Are you wondering how to make money on Craigslist? It’s not difficult and you can begin today. I’ve been buying and selling goods online for almost 10 years. Over the years, I’ve learned what to do and how to do it on Craigslist.
Craigslist is just one option when looking to buy or sell online. Ebay is a popular choice, as is Amazon. The thing that sets Craigslist apart is the fact that they charge you nothing! No fees to buy or sell. Ebay, for example, keeps raising fees, making it increasingly difficult to make a profit.
It’s also easy and convenient. You search for items by city. After you find what you’re looking for, an email or phone call allows you to see what you’re getting yourself into.
Know Your Product
If you are shopping for ANYTHING online, then do some research before you run out and click buy. This is a principle that goes far beyond Craigslist. Before you ever look to purchase, put in the time to research prices, quality, and customer feedback. This sounds easy, but it’s the main component of a successful Craigslist deal.
Craigslist is an inefficient market. Sometimes even wildly inefficient. Many folks on Craigslist don’t have a clue about the fair market value of items listed. I see people trying to sell 2-year old used TV’s for $200 more than the retail price that Walmart charges. I’ve also had people pay new retail price for my used item. You’ll see all sorts of wild pricing and you need to know the value of items before jumping in the game.
Subjective pricing is the essence of Craigslist! It’s what allows you to buy low, and sell high.
Learn How to Negotiate
The other reason I do so well on Craigslist is my improving ability to negotiate. I’ll let you in on a little secret here – There are no firm prices on Craigslist.
When I go to buy, I never give the seller full asking price. I’ll offer low and negotiate. You have to be able to negotiate prices without feeling guilty in the process.
Set aside your feelings when you are negotiating on Craigslist. The worst thing that can possibly happen is rejection. If the other party won’t accept your deal, who cares? There are thousands of other users waiting in the shadows.
Even still, rejection can be minimized with a couple of added tips –
- Cash talks – Always have cash to buy.
- Be Patient – If you email a seller about an item that is overpriced, and they refuse to negotiate, just give it a few days before trying again. The exception to this rule is if it’s already at a rock bottom price. This gives you more negotiating power and allows you to mention the items inability to sell at the initial price point.
- Be friendly. Some folks will sell lower if you are friendly upon first contact. Happens all the time.
Restore and sell
This is a great option if you’re wondering how to make money on Craigslist. Just follow these simple steps
- Look for furniture or appliances or anything that needs restored at garage sales, flea markets, or on Craigslist.
- Dirty stuff is often discounted, as are damaged goods. These are the goods you want.
- Use your skills to fix the item and make it look like new.
- Sell at a much higher price.
Here is a solid wood table we just reconditioned. It was ugly and mismatched with blue paint and scuffed legs. We just sanded it and repainted it. We bought the table for $12 at a garage sale. I sold it for $100 this week on Craigslist.
Flipping on Craigslist
I’ve made thousands of dollars by simply buying items that work great, then turning around and reselling them for a higher price. This works for almost any category of item, but you have to know the value of whatever you want to flip. If you’re an expert in train sets, then flip train sets. If it’s cars, then flip cars. But if you know a lot about cars, don’t start buying train sets.
You can go beyond the simple flip, though. Sometimes it pays to shop around. I’ve bought sale items on Amazon and immediately listed them on Craigslist for a 100% profit. You can find stuff for sale almost anywhere, so keep your eyes peeled for deals.
I’ve made a fair amount of money in electronics. I’ve bought and sold dozens of video game consoles, computers, and computer peripherals.
I’ve made even more flipping cars and motorcycles. That’s probably another post, but there is a lot of money in used motor vehicles.
If you have room to store inventory, look for off-season purchases. Air conditioners, heaters, motorcycles, hunting season goods, sporting goods, and many more are seasonal items. They can be found during the off-season at a fraction of the price that they will fetch during peak buying season! Take advantage of the cycle!
Make sure to implement a few simple tips when you go to sell your item on Craigslist.
- Title – Make it attention grabbing and descriptive. “Like New” or “Antique” are big hits. Get creative here but don’t make it too long. Make sure to avoid pissing folks off with ALL CAPITAL letters or 9 exclamation points!!!!
- Description – When you list an item on Craigslist, make sure to write a positive and promotional description which addresses all of the questions you would have if you were looking to buy. Doing so will generate leads and eventual sales. Don’t be misleading, but don’t list every tiny flaw in the initial description.
- Pictures – Make sure to take clear and inviting photos. People want to see the item in lots of light, from several angles. This is one of the easiest ways to make a sale.
Get started today. It’s easy to sign up and list your items, and you can begin by selling the junk you don’t use! After you get a little experience, move into flipping or another money making avenue!
That’s how to make money on Craigslist. Did I miss anything?
If you are looking for additional ways to make money online, consider reading my guide on making money taking surveys and starting a blog and making money.