Thrift store flipping: Buy donated goods at thrift store, resell them for profit

(KPRC)--There's a simple way to make quick cash and we think just about anyone can do it. Have you ever heard of flipping? You buy something that has previously been devalued and then re-sell it for a profit. We’ve seen it with vintage cars and old houses, but have you ever thought about doing it with items from a thrift store or garage sale?

Thrift store flipping is a great way to add to your income, but you have to know what to look for. It's like a citywide scavenger hunt and the prize is quick cash in your pocket.

“I love getting out in the thrift store, trying to find the hidden treasures,” thrift shopper Jen Meneely said. “It's kind of like gambling. I love gambling. ”

“It is a great way to make money, but you really have to know your product,” Pippa Williams said.

Williams and Meneely met at a thrift shop and hit it off. They started shopping together right away and then created the website and the blog Too Cheap Blondes . They don’t typically “flip” items, but they certainly know what to look for.

“There are people out there who do this to supplement their income. There are others that do it full time and make a lot of money doing it,” Williams said.

Good items to flip include furniture, artwork, books and kitchen items. The “ Too Cheap Blondes ” think the easiest item to flip is clothing.

Clothing

“Do your research, know exactly what brands sell really well and you can flip quick,” Meneely said. Williams recently found a Tommy Hilfiger jacket from the 1990s with a huge flag on the front.

“These are so hot right now,” she said. “The thing that makes this so valuable is it has the big logo flag. I found this for $2.00 at a Family Thrift Store and this is going to sell anywhere from $300 to $400 on eBay.”

Other popular resale brands include Kate Spade, Tory Burch, Burberry and Levi ’ s jean jackets and vests.

How do you know if the item will make money? Go to eBay and type in the name of the item. Filter the “sold” items and you will see how much they are actually being sold for. That will help you decide if it would be worth it to try to resell the item you find.

Furniture

“Thrift stores are a treasure trove for high - quality, vintage, solid wood furniture,” Meneely said.

As you probably know, companies just don't make furniture the way they used to. There is always solid wood furniture at thrift stores and often it's something you can buy and resell for a profit.

“The average price on, say, a solid wood buffet is about $120 to $150, which might seem like a lot.”

Meneely said. “Some of these don’t even need to be updated. Just , you happen to be the one to find it. You can sell this easily for $400 to $500.”

Chairs with fabric that can be easily recovered are also great items to flip. People who recover and upholster furniture frequently look to buy vintage furniture to fix up and sell. You can often grab a chair for $20 to $40 and sell it for an easy $100.

Artwork

You’ll find artwork in just about any thrift store. Look for original works of art. Shopping local is prime for finding artists specific to the area where you live, and you can sell the art online to someone in a different area of the country.

“This is an artist out of Santa Fe who is famous for her watercolors,” Meneely said . “I think these have a value of around $300 and they are here at the Salvation Army for $2.99.”

Meneely and Williams recently paid $10 for an original piece from an artist. They listed it on a Facebook trading group and sold it the same day for $100. They said that while they knew it was worth a lot more (they estimated about $2,500), they were just happy to get a quick buck instead of sitting on it and waiting for a higher bidder.

Kitchen Items

Plenty of people have a nostalgic memory of a kitchen gadget or item that was at their grandmother's house. Because of that, vintage kitchen items often sell for a great price.

We found Starbucks mugs for $2; the same ones are selling on eBay for $30. Pewter items often resell well, too. A $3 pair of pewter bunny salad servers from Mexico are listed for $40 online.

“It’s the thrill of the hunt,” Williams said.

Selling

For smaller items you can easily ship, eBay is your best bet, because you are selling to a wider audience. You end up paying about 20 percent in fees.

For larger items , such as furniture, try neighborhood Facebook selling groups or Craigslist. Take precautions however when meeting people you are working with through the sites. Though there are no “official” “Safe Zones” setup in Central Florida, many police departments don’t mind if you meet potential buyers and sellers in their parking lots.  Below are some resources to help you connect with other sellers and buyers.

Online Resources:

5miles - Online marketplace with ability to be localized.

Amazon – Aside from eBay, probably the best selection of products online.

Carousell -  Setup and join communities of buyers and sellers.

Chairish - Kind of an online consignment retailer that also provides other services like managing online payments or arranging delivery to local shops.

Craigslist – Connecting local communities to buy and sell items.

Decluttr -  Specializing in CDs, DVDs, games, books, game controllers, and cellphones.

Depop –  An app-based marketplace with an emphasis on building your own community to share your offers and purchases.

eBay –  You name it; it’s probably on eBay.

Etsy –   One of the first homes for creative gifts and independent sellers

Facebook – Did you forget about Facebook Marketplace? You wouldn’t be the first – this is a great place to peddle your wares (and services) locally. Also, you have a kind of built-in reference system if you’re dealing with a friend of a friend

Gazelle –  One of the de facto places to see how much your smartphone and other gadget is actually worth.

Gone –   Electronic selling app specializing in wearables, phones, laptops, tablets, and e-readers.

Hoobly -  Online classifieds from all over the world

letgo –  A fairly new player in the online marketplace landscape (founded in 2015), this startup relies on simplicity : snap a picture, post, chat, buy or sell. Bam.  BTW, letgo merged with Wallapop in mid-2016.

Listia –   You sell your items not for cash, but for credits. Use earned credits to buy other things on the site, or cash them in for money.

Next Door –  Mostly known for connecting neighbors with news and events, about 20% of Next Door’s traffic is for classified (buying, selling, or the site’s signature “curb alert” for free stuff).

Offerup –    Another app-based mobile marketplace very similar to letgo.

Poshmark – General fashion.

Shopify –  An online portal to help you set up your ecommerce business.

The Real Real –Consignment for luxury brands.

Tradesy –   Luxury brands; guaranteed authenticity.

Trove -Buy and sell used furniture online.

VarageSale –  “Varage” is a mashup of virtual and garage. Get it? It’s a virtual garage sale that uses your Facebook profile to connect with other members. Members can meet up for individual sales or do a group flea market flash-mob style.

Vinted -  De-clutter your closet and sell your clothing online.

Physical Location Helpers for “Flipping”

Plato’s Closet Orlando

Yard Sale Helper

YardSailr

YardSales.com