With a friend, I’ve recently started importing memory chips in bulk from China, direct from factory. Of course, my first thought was to sell them on eBay. Right away though, I found that the going price on eBay was only $10-15 higher than my cost. At this rate, I would have to move a lot of volume to see any sort of profit.
My friend decided to post them on the Toronto Craigslist forum and within a few days they were all gone, at nearly a 100% markup. If you are thinking of entering the eBay business and you live in a large enough metropolitan area, try Craigslist first — you’ll be surprised how many replies you receive. Your customers will appreciate it as they won’t have to pay shipping fees and will receive the product faster, and you won’t have to pay PayPal fees, eBay auction & final value fees, and won’t have any worries of credit card chargebacks.
A few tips when selling on Craigslist:
- Never post your home address or home phone number on the site. Leave an email or cell number where you can be reached.
- Meet in a public place. Try a coffee shop or gas station. Bring the item you are selling in a backpack or bag.
- Count the cash together to avoid any misunderstandings.
So far, it seems to be working for me. Give Craigslist a try and let me know how it workes out in your city.