Legal Considerations for Reselling Items
Generally speaking, it is not illegal to buy a product and then resell it at a higher price. If you are planning to do this as a business, a couple of issues arise regarding warranties and trademarks.
Permissible Reselling Practices
Can you resell items on Amazon? Yes, it’s legal to buy a product at a store and resell it on Amazon. You have the right to sell products as used. Amazon does have strict policies on reselling products. You can’t resell Nike or Disney merchandise.
Profitable Reselling Strategies
"Buy low, sell high" is the mantra in reselling. You can make a profit by buying items cheaply, then reselling them for a higher price. The key is to buy the item at a lower price than you sell it for. You can resell anything from physical goods to digital products.
Platforms for Profitable Reselling
- eBay – a popular platform for selling a wide range of items, from electronics to clothing.
- Amazon – great for selling books, electronics, and other household items.
- Facebook Marketplace – a free and easy way to sell items to people in your local area.
- Mercari – known for its user-friendly interface and quick shipping options.
- Poshmark – a marketplace specifically for selling fashion and accessories.
Factors for Successful Reselling
Before we can start making money reselling, we need to explore what makes a “good” item to flip. Although anything can be resold (if bought at the right price), the goal is to focus on highly profitable items. Factors that make a great resell item:
- Decent Buyer Demand – must have
- Decent Profit Margin – must have
- Easy to Find – nice to have
Profitable Sourcing Opportunities
Finally, resellers can also source products from yard sales, estate sales, or thrift stores. These types of sales often offer items at a discounted price, which can be resold for a profit.