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-   -   Chattel chatter, anyone? (http://www.sowpub.com/forum/showthread.php?t=8431)

Robert J. March 8, 2013 01:43 PM

Chattel chatter, anyone?
 
Spring is coming, the weather will be warming up ... and it will be a great time to move some chattel!

Last year there was a lively discussion here, but I stayed on the sidelines. This year, I'm going to get in the game ... time to make some chump change, I'd say.

I've kind of "just caught on" to the whole Craig's List phenomenon, and it doesn't take a genius to understand the potential here, for buying or for selling.

Anybody "flipping" their way to fun and fortune? Care to share your niches or favorite strategies?

Dien Rice March 9, 2013 08:10 PM

What NOT to do...
 
Quote:

Originally Posted by Robert J. (Post 32527)
Spring is coming, the weather will be warming up ... and it will be a great time to move some chattel!

Hi Robert,

In all honesty, I haven't "chatteled" for a while...

However, here's a quick story of perhaps how not to do it...

Quite a while ago, I was buying and selling laptop computers. This was a few years ago now, and at that time, a second-hand laptop would sell for around $2,000... (Of course, they're much cheaper now.)

I really did just buy and sell them for a profit. I didn't fix them up in any way. Just buy low, sell high, buy here, sell there...

However, I think what I did was a dangerous way to do chatteling! Why?

What happens if the laptop works when I bought it, then breaks down before I've sold it?

Firstly, I was only usually making about 10% margin on these. (I'd say, buy them for about $1,800, and sell them for around $2,000, making around $200 per "flip"...)

But, if a laptop broke down - I could lose the whole lot! It would be about 10 "flips" worth, down the drain...

Secondly, a lot of people were buying and selling second-hand laptops. These were usually laptop repair stores, which would buy broken laptops and fix them up to sell. Anyway, because there were quite a few of those around, they drove the prices up, at least at auctions.

(I went to a few auctions, and was bewildered at the ridiculous prices these untested, possibly-not-working laptops sold for... I never bought at an auction, because the prices were crazy, at least in my area.)

Anyway, that's why I got out of it in the end. I never did have a laptop break down on me (I always flipped them quite quickly, within a week or two). However, I was always worried it could happen, and take a lot of my profits!

Better, in my opinion, to go for those things that won't break down easily...

Just think of the "Parade of Life," as Gordon teaches...

I should get back into this (though probably not with laptops)... Chatteling is always good for some quick cash... :)

Best wishes!

Dien

sammy March 12, 2013 04:20 AM

Re: Chattel chatter, anyone?
 
Buy air conditioners in winter (especially the portable ones), sell them in the summer.
Buy space heaters in the summer and sell them back on craigslist in the winter.

Of course you'll need to have space to store these items during off season, but if you can manage it, the payoff is good.

A portable AC can be purchased for $100 or less during winter and can easily be resold for $200+ in the summer because these units retail for over $500.

A space heater can be purchased for $10 or less in the summer and be resold for $40 or more depending on the model.


Sammy

LindaC March 13, 2013 08:42 PM

Re: Chattel chatter, anyone?
 
Hi Robert L,
LindaC here.

It's been awhile since I have done any chattling. But, as the snows melt away and warm summer days return a week- end of chattling sounds really good

I've had very good success with baby furniture, strollers,car seats, and baby carriers.

My Best 2 U,
LindaC

Georjina May 25, 2013 11:23 PM

Re: Chattel chatter, anyone?
 
Hi All,
It's been a while since I was here but wanted to connect with anyone here chatteling. Purchased the guide and following it religiously with very little success.

Did sell a few things by consigning them to an auction house in my area but have lost more money at bids stalling at $5 and have had no success on Craigslist. eBay with it's constantly changing (and rising) fees has scared me off trying to sell anything there.

It may have to do with what I'm buying. If I follow my interests, then it's ceramic or porcelain collectibles, especially teapots. To be fair, my budget is limited to $100 or less to purchase items. Now I'm finding that I'm holding items for 2-3 weeks or longer.

Any suggestions on what I'm doing wrong would be most helpful.

Robert J. May 26, 2013 04:50 PM

Re: Chattel chatter, anyone?
 
I have to plead guilty to (once again) buying the book, finding reasons why I couldn't/can't do it, and looking for another miracle.

Hell I stopped in today looking for more info on our dearly departed friend Boz's headlamp biz in a box. Just symptomatic of my life, but that's not what this thread is for ...

For me, I became frustrated looking for anything that )1 I knew enough about to be comfortable with 2) that has a hungry market 3) has enough profit potential to make it worthwhile.

Paralysis by analysis ...

Others here actually DO things instead of just reading about them. I am sure they may jump in...

In the meantime ... Post about your experience. Is there interest in your target product on craigslist or similar outlets? How much money are you tying up in product?

Gordon preaches - paraphrasing here - quick turnaround. Don't sit on the product waiting for top dollar. Sell for a profit and buy something else ...

Are you 'holding out' on lower offers looking for a big score?

What is the price point you are hitting with what you are selling?

Are you specializing in a particular 'kind' of item?

Robert J. May 26, 2013 04:54 PM

Re: Chattel chatter, anyone?
 
Just reread your post? Are you dabbling in the ceramics? If you are in collectibles, is it possible you are buying less desirable pieces because of your limited budget?

From my armchair (is. I have zero credibility), I am thinking it is a mistake to pick a niche because you like it ... Unless this is a hobby. If you want to make money, you have to find a niche were there is demand and spending AND you can afford to get into the game.

Dien Rice June 2, 2013 06:42 PM

Dealing in everyday stuff, rather than collectibles/antiques...
 
Quote:

Originally Posted by Georjina (Post 32761)
It may have to do with what I'm buying. If I follow my interests, then it's ceramic or porcelain collectibles, especially teapots. To be fair, my budget is limited to $100 or less to purchase items. Now I'm finding that I'm holding items for 2-3 weeks or longer.

Any suggestions on what I'm doing wrong would be most helpful.

Hi Georjina,

Gordon recommends buying and selling everyday stuff, and staying away from collectibles and antiques. That could be why you are holding your items for 2-3 weeks and more.

A budget of $100 shouldn't be a problem, because you can grow that over time, as Gordon Alexander explains in "The Chattel Report: 12 Weeks To Freedom."

Think about the "Parade of Life," as Gordon puts it. There are certain stages of life when people buy certain things, and other stages when they sell those same things. For example, when they have a new baby, parents buy a stroller. A few years later, when the kid gets older, they'll sell it. At the same time, another couple will be looking for a stroller for their new baby. You can make a profit between those two transactions - the first couple selling the stroller, and the second couple buying it.

TV shows like "American Pickers" are very popular, but the reality is they could hold those antiques for months (or more) before they can sell them at a good price. That's the drawback of dealing with antiques and collectibles compared to everyday stuff.

Best wishes,

Dien

sandalwood June 2, 2013 06:59 PM

Re: Chattel chatter, anyone?
 
I have a 1982 Porsche w/only 44K miles I am willing to chattel to anyone who wants it. Needs a water pump btw.

Here's to chatteling.

Tom

LindaC June 2, 2013 10:44 PM

Re: Chattel chatter, anyone?
 
Hi Sandalwood,
LindaC here.

Just a few questions for you concerning the vehicle
you have for sale.

Is this a gas or diesel vehicle?
Location of vehicle?
Do you have a clear title for the vehicle?
Last year vehicle was tagged/inspected?
Can you provide pictures of the vehicle?
Asking price?

My Best 2 U,
LindaC


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