It all started with decluttering my closet. Moving from a tropical island to the Mojave desert has surely made some of my clothes irrelevant. During summer time, it could be as hot as 115 and as cold as 20 during winter time. My cocktail dresses are also no longer suitable since I have no weekend events to attend to. I was just meant to sort what is now appropriate in my current environment and lifestyle. It was not meant to pivot into something more but it did, so here we are…
I started on Poshmark since I am familiar with it as a buyer but not as a seller. I sold 2 items within the first week and I was hooked. I googled other platforms and Mercari was highly recommended for having a small percentage of seller fees. I listed a bundle of Nike leggings that I haven’t been wearing and it sold within an hour.
I knew right there that I’m onto something.
Every sale since then has become a hit of ecstasy – pure sense of happiness, an addiction that inspired me to list everything I own and use it to source actual inventories. I sold some of my bag collection, clothes I love and shoes that I barely wore. Anything that I thought would be a value of something were listed.
At the end of 2018, after just 14 weeks, I have sold a total of 197 items with a gross sale of $4,608.02 and a net earnings of $3,422.87. Here’s the breakdown:
- Poshmark – $ 3,074.70 (141 items)
- Mercari – $ 1,420.00 ( 53 items)
- Depop – $ 73.00 ( 2 items)
- Tradesy – $ 40.32 ( 1 item)
As you can see, I sell in 4 different platforms but Posh is my main hub! I have discovered a few more market places but these four seemed to be the best fit with my items. Now, onto the bigger question, how exactly did I make that much in short amount period of time?
Three Things to Consider when Reselling
Squeeze the time in the morning before you go to your full-time job and when you come home. I have a 9 to 5 job, so I have to stick to my schedule. I wake up early to list, work out and go to work. When I come home from work, I make dinner then list again.
Cross-listing – find the platforms that work best for you and list your items in all those platforms to maximize the visibility. Each marketplace has different audience.
For brand new items, look out for the MSRP on the tag. For example, if an Under Armour Leggings has an MSRP of $54.99 but currently on sale for $10.00 then you can sell the item as high as $40. Don’t be scared to price high. Buyers will most likely make an offer.
If you’re sourcing in retail stores, immediately compare the price of what you found in that store and what’s available online. A simple google search will normally lead you to a similar or same item.
Again, I just want to emphasize that I am sharing my numbers and tips to you, not to brag but to inspire. Inspire those who may be looking for extra income or to just find something else to do with their spare time. I, am more of the latter. I very much love my full time job but also looking to divert my attention to something more productive on my days off. Little did I know that one day, this could actually be my full-time job.
How exciting would it be – to own your time, call the shots and be your own boss?
Well, here’s to 2019 and to finding out more where this journey will lead to.
As always, if you have any question with all the things I discussed here, feel free to leave a comment or connect with me through Instagram @joprofugo