Flipping Things for Profit

Man at a garage sale looking at items to buy

Lately, I’ve become somewhat obsessed with scanning for things to sell and profit from.

This definitely isn’t a new thing to me. In fact, I used to do it quite a bit when I was younger – often buying items from the clearance section of a store and then re-selling online for slightly more (always enough to make a nice wee profit!).

I kind of forgot about this whole buying low/selling high(er) thing, or as it’s more commonly known, flipping. This all happened around the same time I got my 1st proper job – up until now that is.

Thankfully, I was reminded about this when listening to an episode of The Joe Rogan Experience in which Gary Vaynerchuk was the guest.

This recent obsession with buying/selling/profiting is all his fault.

And that’s definitely not a bad thing.

Who’s Gary Vaynerchuk?

Prior to seeing him on Joe Rogan’s podcast, I’d never really heard of Gary Vaynerchuk before.

Gary’s the chairman of VaynerX, a modern-day media and communications company and the active CEO of VaynerMedia, a full-service advertising agency. You can read up more on his biography page here, but for the purpose of this post, all you need to know is he’s one badass, motivational, inspirational dude!

At first, I found Gary a wee bit annoying. I thought he came across as far too energetic and impatient. Despite that, I was glued to watching him and listening to what he had to say. I’ve since realised that what I mistook as unfocused energy and impatience was really just passion. He’s one hell of a passionate guy! It’s no wonder he also makes for such a great motivational speaker.

After I finished listening to the podcast, I began to dig deep into Gary’s immense tonne of content – 99% of which he gives away for free. His YouTube channel, particularly his DailyVee and The #AskGaryVee show are fantastic places to start. My initial impression of him has unquestionably changed. I find many of his ideas to be extremely practical, and I believe several of us could benefit from implementing his advice in our personal lives.

Gary is a big believer in doing. He openly admits that while it’s great to watch/listen/read his content, it’s only useful if you actually do something with it.

Don’t just be a consumer, be a doer!

In fact, one of the things you’ll often hear Gary say is: “Watch what I do, not what I say!”

After consuming countless hours of his videos, I’ve decided to become more of a doer. I’m going to start taking several pieces of his advice on-board and observe how my life improves as a result.

What Am I Going to Do?

I’m getting started by using what I believe is his most actionable advice – flipping things for profit. You only need to watch a handful of Gary’s videos to see just how passionate he is on this subject.

Check out the below video where Gary and his friend hit up a charity shop seeking for things to flip.

Skip ahead to 4 minutes 50 seconds to see them entering the charity shop.

How Can I Get Started?

You can get started in one of two ways:

  1. Gather everything in your home that’s just sitting about serving no purpose. Figure out what it’s worth and list it for sale. I’ve already exhausted this option (I don’t like holding on to pointless shit), so it’s on to #2 for me.
  2. Visit charity shops/thrift shops, car boot sales/yard sales or the likes of community recycling websites (where people simply list the things they want rid of). Hunt for items that you can buy with the purpose of selling on for profit.

The most common place to list things for sale is definitely still eBay, but there are many alternatives which are gaining in popularity.

My personal favourite at the moment is Facebook Marketplace. It’s extremely quick and easy to list your items for sale, plus there are no fees to worry about. The main downside with Facebook Marketplace over eBay is the lower number of eyes you get on your listings. This is because Facebook Marketplace is aimed much more towards people in your local area, whereas eBay is more global.

Other places for selling your items include Gumtree, Shpock and Mercari.

The likes of Gumtree and Shpock are very popular here in the UK. Mercari is one I’m not very familiar with, needless to say, I still created an account and listed things for sale. You don’t know til you try!

Time to Go Hunting!

After being inspired by watching Gary, it was time to head out to see what could be found.

It’s not as easy here in Scotland. Unfortunately, people don’t openly have yard sales as they do in the US, but I wasn’t going to let that stop me.

I headed to a local charity shop and started rummaging through all the items for sale. Almost immediately, I came across 3 Disney soft plush toys in excellent condition. One of them still had all the original labels and tags. Score!

I remember Gary saying in the 1st episode of his new show, Trash Talk (which you should definitely check out!), that Disney toys are always a good buy. I’m not sure how sellable they are here in the UK, but I decided to go for it anyway. I got the 3 Disney plush toys for £6.50. Based on previously completed listings, I’m pretty confident that I can get at least a fiver for them individually. Possibly £20 for the lot!

Disney Plush Toys - Olaf, Eeyore and Tigger
The Disney plush toys I managed to find in the charity shop. This is the photo I took of them for selling.

I also bought a rare Disney photo frame in good condition for £2.50. I managed to find a similar one on eBay that had sold for £16.50. I should be able to make some good profit from this.

It’s purely coincidental that all the things I ended up buying were Disney related. I guess the charity shop likely received a recent donation of items from parents – probably after clearing out their kid’s toys.

There was a lot more on offer – clothing, books, games, vinyl records, models – but I decided to keep it simple considering I’d never done this before. Part of me felt bad for googling how much potential profit could be made on these items. But I reminded myself that I’m still helping the charities out by purchasing from them in the first place.

Everybody wins. Providing I can make a profit that is!

My Thoughts & What’s Next?

The thing I’m keeping in mind when doing this is the fact that it’s all part of a learning process.

If these items don’t sell as well as I hoped, then I’ll have future knowledge of knowing what to avoid. The more items I find, research and sell – the more knowledge I gain of knowing what sells well and what doesn’t.

I can only see myself improving at this flipping game.

I really do get a buzz out of all this. It’s funny, because even Gary Vaynerchuk, a $200 million entrepreneur, has said that he gets more of a kick from flipping shit for profit than he does closing multi-million dollar deals for his company.

The thrill of the hustle is real!

I’m planning to check out a few more charity shops next weekend. Hopefully, I’ll also get round to a car boot sale. Then it’s just a case of finding items I think could be profitable. I’m looking to take this up as an additional means to generating income at the weekends. I’m excited about the pure potential in this, and I can’t wait to find out how much additional income I can make.

Time to go to work!

If you’ve read this far and you’re thinking this all sounds pretty exciting, then I highly recommend you check out The 2017 Flip Challenge (yes, I’m aware it’s now 2018, but this is extremely relevant) and Trash Talk Episode 1 – if these videos don’t inspire you to get involved in the flip game, then nothing will.

If you decide to get involved in this, I wish you the best of luck.

Have you ever flipped things for profit? If so, what’s the most profit you’ve made? Maybe you have some tips of your own when it comes to this? Let me know in the comments section below.

2 thoughts on “Flipping Things for Profit

    • Iain Geddes 18/10/2018 / 9:37 am

      Thanks!

Leave a Reply