The simplest approach to set a resale price is using a cost-plus method. Multiply the product cost by 100 percent to determine the retail price.
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Pre-Loved Clothes Pricing: On average, pre-loved clothes sell for 30-40 percent of the original retail price. Price used garments at a third of similar new items’ cost.
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New Products Pricing: When listing new items, price them 30 percent higher than desired and adjust if necessary. Evaluate potential profit by researching current selling prices, costs, and sales effort.
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Furniture Pricing: Furniture often sells for much less than perceived value, especially at garage sales. Experiment with pricing to find the point that generates interest.
Good Resell Price
What constitutes a good resell price can be determined by the 50-30-10 rule:
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Near-to-new items should sell for 50 percent of the retail price.
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Slightly used items sell at 30 percent of retail.
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Well-worn items sell at 10 percent of retail.
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Determining Profit Margin: Aim for a 10 percent profit margin as an average, with 20 percent considered high and 5 percent as low.
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Pricing Strategy: Use a cost-plus approach to set prices, multiplying the product cost by 100 percent. Research similar items’ prices, consider costs, and adjust prices as necessary.