Liquidating merchandise on Craigslist – This is the first of a three post series where I will guide you through the basics of reselling customer returns on Craigslist. Thousands of eBay sellers supplement online auction income by selling goods through Craigslist. Why not, it’s free and it takes literally 10 minutes to post a add. I personally know a few individuals who make Craigslist selling a full time income. Sound good? Let’s get started:
In the first part of our series I want explain the process of merchandise selection, purchasing, and freight shipping.
Selecting The Type of Liquidation Merchandise – Keeping in mind Craigslist is, for all practical purposes, a garage or tag sale online. When sourcing pallets, I look for a generous mix of items ranging from low to high retail pricing; the higher ticket items will make up the bulk of our investment return, while the lower priced items can be grouped together and sold in assorted lots.
When looking for a specific category of merchandise to resell, in my experience, it’s best to purchase items you are comfortable with, and potentially have some knowledge about. For purposes of this post, I’ll select mixed assorted pallets of either general merchandise or household goods.
Look for manifested pallets or pallets that are advertised with a specific or general piece count. In the case of a manifested pallet, you can get a pretty good idea as to what you will be receiving. Without a manifest you’re laying some heavy chips on the table, but in the liquidation industry risk is a part of the potential reward. If you’ve read our Guide, you will recall a chapter all about the inherent risks of liquidation purchasing….it’s not for the weak or faint of heart.
Purchasing The Pallet – Once you have decided on a pallet, it’s just a matter of making the actual purchase. A lot of wholesale liquidators accept credit card payments for order under $2,500.00, so the actual purchase simply involves whipping out Ye ‘ole plastic. If the particular wholesaler does not offer credit cards for purchase, it’s off to the bank to make a wire transfer. Wire transfers are another topic we talk extensively about within our guide (how to and risks involved).
Having the Pallet Shipped – OK, easy now…this is where most of you get a little queasy. If working with a reputable wholesale liquidator they typically will arrange the freight shipment. It’s hand off for you, in most cases. But, and it’s a big BUT- take a close look at the type of pallet that is being shipped in terms of being able to receive and maneuver the pallet once shipped to your door.
If the single pallet consists of stacked boxes shrink wrapped, a lift-gate trailer may not be needed because boxes can be hand unloaded once the shrink wrap is removed. If the pallet purchased comes in a Gaylord, which is a large cardboard box filed with items, a lift-gate equipped trailer will be needed to unload. A side note: the use of a lift-gate trailer will incur an additional freight fees, typically $75.00 – $100 additional dollars added to a freight bill. This can cut into your bottom line!
Let’s pick out a couple of pallets for Craigslist!
Because we have readers all across the country, I’ll pick a pallet from a West & East coast wholesale liquidator. I’m also limiting my spend to $750 or less…with freight. After reviewing websites and calling each wholesale liquidator, I’ve settled on two pallets for our first purchase.
Assorted Household and Kitchen items from Via Trading – $549 per pallet
General Merchandise Assorted gaylord from Discount Wholesalers, Inc – $375.00 per pallet
Now that we have our two pallets…part one of our three part Craigslist liquidation series comes to an end. In our next post we will discuss pallet piece counts, pricing items for Craigslist, and how to sort newly purchased pallets of liquidation stock. As we close, I’ll open the floor to any questions you might have…don’t be shy, go ahead and ask.
READ THE NEXT POST – Liquidating Merchandise on Craigslist Part II
Our 2017 Liquidators Guide chronicles 12 years of wholesale product sourcing experience and includes my personal black book of direct source contacts! As an industry expert, I'll share the success I've enjoyed along with the mistakes I've made buying and reselling liquidation merchandise.
If you are thinking about buying pallets of liquidation merchandise from a liquidator, broker, or direct from department stores, you need to check out The Liquidators Guide