While we may not consider ourselves to be merchants in any capacity, from time to time, we will begin the process of selling some of our belongings. No matter if you’re hoping to sell your home or something smaller such as a collector’s item, it’s important to go about the process in the most careful manner you can. Your conduct and connection with potential buyers during this time will have a marked increase or decrease on the final price you can acquire. Not only this, but in order to add a value assessment to your time, it’s likely that you need to follow best practice and stay realistic to even achieve the sale in the first place.
But selling a personal item is relatively simple to follow, as evidenced by sales platforms such as eBay, Shpock, Depop, and the Facebook marketplace. What’s more important is learning how to navigate these platforms or to connect outside of them, for the primary goal of getting the most from any particular sale. In the interest of maximizing your potential profitability, we believe the following advice could help:
Know Your Item’s Worth
Before you are able to adequately promote and market your item, it’s important you know its worth. Concepts such as depreciation might be in strong effect when it comes to assets such as vehicles, and depending on the age, condition, utility, rarity and handling considerations, your item might raise or fall in value. As such, finding comparable items on the marketplace can be a worthwhile use of your time.
Sometimes, it will be hard to value your item adequately, particularly if you have little knowledge of that library of products. This is where experts, collectors or hobbyists might find that you’re unaware of how valuable an item is as they try to undersell you on it. This is often the case in art sales or the sales of first edition books, as those untrained in a certain complex field may not know the value they are letting slip through their fingers. However, knowing your item’s worth needn’t be some arcane practice you can only come across once in a blue moon. There are many worthwhile appraisers out there who will be happy to inspect your item and give you a more conclusive valuation. However – as per our prior example, beware of accepting a sales offer from an appraiser, as they’ll usually have a vested interest in cutting your price down.
Attractively Market Your Item
Learning how to attractively market your item can be one of the best means in which to increase its value to begin with. It will certainly help you drum up interest in potential buyers, and from there you can manage the best offers. Learning to photograph an item can be important. For example, instead of photographing your vehicle on your rain-soaked, slightly cracked driveway, driving to a nice local car park overlooking a nature reserve can help you show the vehicle in all its glory.
This might sound like a simple and deceptive trick, but it’s more than that. Sometimes, your item needs to shine in order to stand out among the others. However, a good practice is simply taking a photo of smaller items in a neutral space, be that a table, a shelf, or against a white wall. This way the product’s presence can speak for itself.
When creating your listing, be sure you know how to operate the certain platform publishing options. For example, eBay will show an exhaustive list of optional categories you can use to further explain the condition of an item. Ensure that your personal description of the item is clear, brief, and hits on all the points. If it’s an item priced higher or lower than others in its category, explain why. Perhaps you’re signing up for active military service and you no longer need that $2,000 coffee maker collecting dust in your accommodation. Perhaps you’re tired of sitting around playing video games and so are selling your computer components as soon as possible. A little personality can’t hurt.
Know Your Audience
Know who you’re selling to. A collector may be much easier to negotiate with than someone expecting a fair price for a fair item. A simple possession may fly off the shelf, or a niche item may be at auction for a good number of weeks. Know who you may sell to, and that in itself can help you tailor the listing or package the item in the right context.
Understand ‘Side Value’
Side value can be a great means in which to ensure that even if you do not hit the full value of your sale, you gain in additional ways. For example, it might be that someone is willing to drive over 400 miles to come and pick up your vehicle, and so with that the cost of having it delivered somewhere through specialized vehicle delivery is much less pronounced. Perhaps someone is willing to ship your item halfway across the world. Maybe they’re happy to purchase two or more of your other listed items as part of a collection, and cutting a deal with them could help you with the convenience of selling right now.
Side value might also come in the form of a trade, or perhaps a swap for a similar item. While this may not be viable in all circumstances, once in a while it may be. Be sure to measure that based on the outcome you’re looking for and the most realistic result. If you stay persistent in your selling, continue to meet those interested with affability, and exercise the most advantageous wisdom surrounding negotiations, odds are you’ll find selling to be a pleasurable and largely positive experience. This will give you further confidence as you go to sell more belongings, and it may even help you increase your profitability in the long term.
With this advice, we hope you can get the most out of any particular sale.
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