So, you’ve decided to give buying in auction and reselling for a profit a go! Welcome on board.
One of the first decisions you’ll have to make is what kind of stock to put your money into to get a good return on investment, closely followed by how much to bid of course!
Well, we're here to help you decide.
The best place to start looking at is bulk stock, such as pallets of customer returns. This way you can secure a variety of stock, often by well-known brands, for a fraction of the RRP. You’ll have a choice of graded returns or raw returns. Raw returns are unchecked, and can range from brand new and sealed to faulty or damaged. Whilst there is an additional risk you can expect to secure raw returns for less cash than graded ones! This stock will have an RRP from new and a manifest of the contents, so you can calculate your bid amount with that in mind. You'll regularly find pallets featuring amongst other things domestic appliances, homewares, fashion and furniture.
Once your pallet arrives with you, you’ll be able to sort through it and resell items that are in good condition, selling others for spares and repairs or fixing them up yourself to get a better return.
Another great place to find suitable stock is in stock clearance auctions. These can include trader bundles to get even better value for money, and the stock is brand new/unused. This way you’ll know the RRP and what you’d expect to sell it for either as individual items or smaller bundles on the secondary market, helping you decide exactly what to bid to get a great return.
It’s also worth checking out our collective auctions for a variety of lots. These are auctions where you have a variety of different vendors all selling their items together in the same auction. You can find all sorts mostly listed by private sellers who will often offer antiques and collectables for great prices. If you are prepared to do some research, you could pick something up that you can resell for a profit whilst helping someone else free up some much needed space!
Once you’ve secured your stock and sorted through it, you can resell it for free with us at William George! We take 0% commission, meaning you get 100% of the hammer.
If you’d like to chat with us about the auctions we have online at the moment, you can get in touch with us on our live chat, or by email. We’ll be happy to help and can point out the auctions we have online at the moment that fit the bill.
Have a look now at what you could be bidding on in our live auctions. Happy browsing and bidding!