The Differences Between Craigslist, Ebay, Garage Sales & Consignment
So you've cleaned out your closets and now have bags and bags of stuff to sell. The big question now is, where are you going to sell your stuff? I think a lot of people make the mistake of picking one place and sticking with it. If you do a little research, you'll find some items might sell better at a garage sale while others sell better on Ebay. Today, I'm going to break it down and show you how each one is a little different than the other. Then next time, be sure to think before you sell.
Ebay vs. Craigslist
Ebay: I'm sure if you've been on the internet for long, you have likely sold or bought something on Ebay. Back in the day, I had my own Ebay selling business and thought of myself as an Ebay rock star. However, I learned really quick that Ebay has a HUGE audience. This can be great for sales but it all depends on what you are selling. A quick search on Ebay might reveal that your oh-so-unique item isn't unique after all or at least it is not unique when you consider the mass audience of Ebay.
If you have a collection or something that will take a special kind of person to buy, then Ebay is great because you'll reach a much larger group of people. However, if you are selling your kid's old shoes then you'll be competing with millions of other shoes which means your profits will be far less than they would have been if you sold on Craigslist or even a garage sale.
Craigslist: Just like Ebay only local. Again, you're likely to get more money selling this way if you have an item that is hot in your particular location. Always, always think of your audience. With Craigslist though, you will have to meet the person in real life so keep safety at #1. I always meet at gas stations or other public locations and I always have someone else with me just to be safe.
Honestly, I have made much more money off Craigslist by selling my kids toys, clothing, etc. However, when I had big collections to sell like my grandmother's Precious Moments collection, I did much better on Ebay where there are more collectors.
Garage Sale vs. Consignment
Garage Sale: I'm a huge supporter of the garage sale. Why? Because I'm a bargain hunter and I like to dig for weird things and only pay .25 for them too. Many garage sale shoppers are just like me, they're looking for bargains.
If you just want to get rid of your stuff or if your child's clothing, toys or other items are used and not in perfect condition then a garage sale is the way to go. It's quick cash which is always good and you can get away with selling just about anything. Just remember, it's a garage sale so don't overprice your items. Also be sure to organize and clean your items if you actually expect them to sell at all.
Consignment: First, check out this recent article about 3 Ways to Make the Most Money When Selling Consignment. Consignment is a step above garage sales and some consignment stores can be several steps above garage sales. Consignment is great when your items look good or are name brand. Let's say you spent $100 on a pair of shoes and you don't want to sell them for $2 in a garage sale, take them to your nearest consignment store or event and you'll land much bigger profits.
If your child's clothing is in decent condition and the toys are clean and in completed sets then try out the Just Between Friends Sale. The folks shopping the sale will get higher quality products from your great stash and you'll land higher profits. It's a win-win!
The next time you clean out your closests for some extra cash, be sure to research before you sell and find the best place for your goods. Changing it up a bit and trying something new could get you more money than you ever expected!
What is your expereince? Tell us your tips!