Simply put, if you live in a crowded area, you can turn a bit of a profit on Craigslist, even if you have nothing to sell. Here’s how to make money on Craigslist without having to sell anything of your own:
The concept of a profit is simple: sell something for more money than you put into it. Everybody does it, it’s how we get by. The trick to doing this on Craigslist is to exercise self control and only pounce on items that:
A) Are cheap and in good condition (Yes, they exist. You just have to look.)
B) Are cheap, and need a quick fix-up. This can be anything from an acoustic guitar with a missing peg (a few bucks), or a piece of furniture with a stain or scratch on it. Cases like these are common on Craigslist, and you’d be surprised at how easy some of this stuff is to fix.
B) You know you can buy for less than the posted price, for a number of different reasons:
-The person must sell the item(s) because of a pressing deadline (moving, etc.)
-They need money now
Some people say that they don’t need the item anymore, or that they no longer have an interest in it. Why people would advertise this fact is beyond me. My general rule of thumb when it comes to selling on Craigslist is to not give away too much in the ad itself- statements like “I need to get rid of this stuff soon” and “I’m selling this because I need the money” are signs of desperation, and very likely mean that the seller is willing to negotiate. Haggling is the bread and butter of craigslist- always haggle. Nine times out of ten it works.
Now, I’m not saying you should lowball somebody, because nobody likes to be lowballed. A lowballer is someone who asks for a price that’s clearly way too low. There’s no standard amount to haggle, but if I were genuinely interested in something on craigslist (say, a $200 surfboard), then I would haggle it down a bit (say, $175). Just asking for a lower price isn’t haggling; you’ve got to give the seller a reason to accept your offer.
Think to yourself: “This guy would prefer to have X amount of money guaranteed today, rather than wait for an unguaranteed Y.” Then, offer him X amount of money. This X needs to be reasonable. That’s generally a good way to think about it.
Sure, the guy might come back and say “I think $175 is too low, but how about $185?” Perfect! You get the board, and you both feel like you got a good deal.
Once you’ve gotten a good deal and bought the item, time to begin the restoration process. Restoration could be anything- touching up a blemish on some furniture, replacing a missing guitar peg, or just giving something a little bit of a clean. The general idea of restoration is to improve upon what you have just purchased, so you can sell it for a higher price.
Restoration can be fast, and it can be slow. My recommendation is to only get into this with quick fix items, unless you’ve got a lot of free time. Doing this sort of stuff on craigslist can generate some cash, but to be able to make anything really substantial is difficult. This is good for a hobby, or if you need to raise a small amount of m0ney for something.
Once the item is restored and ready to sell, think of a good way to market it. Do you have a second-hand junky guitar? Sell it as a “beginner’s guitar”. Be smart, take good pictures, and remember- you’ll likely get haggled down too, so keep that in mind when pricing. Psychologically, I would be more likely to spend $80 after haggling down from $90, than if the item was posted at $80 to begin with and the seller refused to negotiate, so don’t worry about this step.
Be intelligent with the way you advertise your items, but never be dishonest. What I’m explaining is a way to get a good deal, put in a small amount of work, and make a little money- what I’m not suggesting is to flatly lie or deceive people.
Once you get a response about the item, be quick with your replies. If they are close to you and you have the time, offer to deliver the item (if they sound genuinely interested). Oftentimes you can justify selling something for a little bit more money if you offer to deliver it. If you happen to have a truck, this works especially well with bigger or heavier items, like furniture.
That’s pretty much it. Give it a try- it makes good beer money.
The BIP Section 