If you consider yourself really good at finding deals and bargains, then this side hustle is for you. In this post, we will explore how you can find products on Slickdeals and resell them on eBay for profit.
What is Slickdeals?
Slickdeals is a website that lists discounted products including electronics, apparel, and even video games. For those who are unfamiliar with Slickdeals, it is an aggregator discussion board.
In order to find profitable deals on Slickdeals, you must first research the eBay marketplace. You must look at the ‘sold’ value of items after any sort of fees charged by eBay or PayPal have been accounted for. There is no specific niche or market that this method of flipping products cannot be applied to. You just need patience, an understanding of shipping, fees, and be willing to research all of this.
Researching Products to Resell on E-Bay
Purchasing goods or purchasing stock from Slickdeals should always be done after you’ve determined how much you can resell the items for. In order to achieve this, you should always be aware of your expenses and your profit margin potential.
You can figure out how much an item eventually sold for by searching for any item (e.g. fishing rod) on E-Bay marketplace and then selecting ‘Completed Items’ and ‘Sold Items’ filters from under ‘Show Only’ filters. This will narrow the list down for you and give you an idea about how much various fishing rods sold for.
Once you are comfortable with researching and calculating profit margins, you can start looking for deals on Slickdeals.
Reselling Step by Step
- Browse Slickdeals to find products that are undervalued and you are confident you can resell on eBay for a better price.
- Once you have identified these products of interest, head over to eBay and research the “Sold” value for these products to confirm your hunch.
- Keep a 40% margin for profit to pay for shipping, eBay and other fees as well as the cost of the product in order for it to be profitable.
- Aside from the “Sold” price, also note how quickly the items sell on eBay by looking at the listing and sold dates. This will help determine the demand.
- Once you have a few products to sell, create an eBay account and begin listing your products for sale.
- Upon receiving orders, ship your products using FedEx, UPS or USPS and you should be golden.
Conclusion
In addition to what we have discussed above, you can maximize your returns by following the general tips below:
- You can opt to receive price drop notifications at Slickdeals. Since the inventory runs out fast when the prices are too good, this maybe a good option to consider.
- Try and sell products that are smaller in size. This will save shipping costs that in turn will result in higher profit margins.
- Try to build a reputation on eBay by making sure that you deliver on time and offer good products. Having a great seller rating will ensure greater sales over time.
Once you have done a few deals, you will realize that this gig can be significantly profitable once scaled up and if done properly. So go ahead and give it a try.