The Gizmophile

Imagine clearing your house of stuff you don’t use anymore like a set of truck rims and tires or an old bicycle.  Not only will you be able to reclaim some space but you can get some money back too.  This won’t get you rich by any means but at least you can use the extra cash for something else like paying your credit card debt.

So why is it that more people aren’t using sites like eBay or Craigslist to sell their old junk.  Yes there’s a potential that you have to deal with getting scammed but if you follow some of the tips below, you can avoid it like I have.  Of course having said that I just managed to jinx myself. 

If you have never used these online marketplaces before you should try it out.  These sites have a wider audience than your local newspaper publication and the chances of you selling that antique 486DX chip increases significantly.  As an example, I recently sold my old digital SLR camera on eBay.  Had I used a local newspaper ad I probably would not have been able to sell it within 3 days of posting the item for the price I wanted.

Of course the drawback to eBay (and PayPal) is the fee they charge you.  The benefit is they are able to help you resolve transaction disputes and provide you some peace of mind.  Sites like Craigslist on the other hand is a free-for-all and you have to tread more carefully but it can be just as rewarding.  In fact, you can regain more money back since you won’t have to worry about transaction fees.  The drawback to Craigslist is people tend to low-ball you.

You can also utilize online forums or bulletin boards to reach a more specific audience.  For instance, I could have used the Canon Digital Forums to sell my old Rebel XT but since I was new to the site, I wasn’t quite sure if the forum marketplace was trustworthy enough.  I have had success on other sites like Slowtwitch and Hardforum.

Here’s a few helpful eBay tips based on my experience.

• Listings that end during the middle of the week and after the work day tend to have more bidders that subsequently push the price higher.
• Post pictures of the item you are selling and don’t use a stock photo from the manufacturer.
• Provide as much detail as possible.  How old?  Is it in good condition? etc.
• Check the completed listings to get an idea for how much an item has been selling over  the last x days or weeks.  This is helpful if you want to know how much your item is probably worth and set your expectations accordingly.
• Check the current listings to see how many vendors are selling the items and how many bidders are available.  Last thing you want to do is list an item that everyone is selling but no one is buying.
• You can also check completed and current listings to help you create a title as well as the overall design of your listing.
• Once you’ve sold the item, send it out as soon as you have received the payment.  Notify your buyer of its progress by providing the tracking number/s if available or when you plan to ship it.  And make sure you pack it right.  You don’t want it damaged on the way to your buyer.
• Leave a feedback.  Vendors and bidders like more stars associated with their accounts.  I know I do.

And my Craigslist tips.

• Always deal locally and in cash only.
• Agree to meet at a public place like a coffee house.  In some cases, you might want to have them come to your house in case you’re selling a couch.  I actually helped transport our old couch to secure the sale.
• Post a price slightly higher than what you want to sell it for.  This leaves you room to haggle a little.
• Post pictures of the item you are selling and don’t use a stock photo from the manufacturer.
• Provide as much detail as possible.  How old?  Is it in good condition? etc.

Don’t you just love how technology enables us to this?

-the gizmophile

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