Are you struggling to find your way around the reselling business?
Did you browse the cheap items on Goodwill, thought about selling them for profit somewhere else, but don’t know how to get started?
If you’re afraid of the risk, then we congratulate you. You’re already starting to think like a business person.
Luckily, guides like this one exist for people like you. In this post, we’ll show you how to resell items from Goodwill to make a decent profit.
- Is It Possible to Resell Items From Goodwill?
- What Is the Value of Items From Goodwill?
- Things to Consider When Reselling Items From Goodwill
- Where to Resell Items From Goodwill
- What You’ll Need to Resell Items From Goodwill
- How to Resell Items From Goodwill: Step-By-Step Instructions
- Can You Make Money Flipping Items From Goodwill?
- Frequently Asked Questions
- Similar Tutorials to Check Out
- Wrapping Up
Is It Possible to Resell Items From Goodwill?
Yes. Like any local thrift store out there, items on Goodwill have lower prices compared to other marketplaces.
By identifying the items that have a good resale value, you can buy them and sell them somewhere else to make some extra money.
What Kinds of Items From Goodwill Sell Well?
Goodwill has a large selection of items, but some of them sell better than others, especially if they’re in good condition. Here are some of them:
- Electronics: Laptops, phones, cameras, tablets, and even gaming consoles can yield a good profit if you acquire them from Goodwill and sell them somewhere else. Also, keep an eye on vintage electronics like record players and stereos.
- Clothing: Clothes can resell for a profit after buying them from Goodwill, and so can reselling shoes and wearable accessories. Also, your chances of profiting will increase if you land branded items.
- Books: While many people are now using e-books, the sense and feel of normal books can never be taken lightly. That’s why you can make a decent amount of cash if you flip books from Goodwill, especially if they are rare or collectible editions.
- Furniture: Reselling furniture like chairs, tables, and picture frames can fetch a good price.
What Is the Value of Items From Goodwill?
According to Goodwill’s price list, the items’ value is quite low. From jackets and coats pricing just below $10 to gloves and caps costing less than $1, thrift store flipping will be difficult as the true value of items is hidden as long as they’re on Goodwill.
So, how can you find value in items for a sustainable side hustle when they all have such low price tags? Here are a few markers:
- Know the brands, as some brands are known for making high-quality items. The value of such items is retained even if the items are used.
- Look for unique thrift store finds that seem like they’re one of a kind. If you find an item that you think is unique, then do some research to see if it’s worth anything.
- Be patient. It’s hard to pinpoint every single valuable item that people sell online, and it may take some trial and error. You may lose some money initially, but with time, you’ll be able to identify the pattern and know which sellers and items to trust.
- Know your market and see items that get more value over time. For example, there’s a Gameboy Advance cartilage called the Pokemon Sapphire version that used to be worth a few bucks back in the day. Now, it’s an antique item that costs just under $140 on Amazon. In other words, with the right items, you could be reselling on Amazon.
Note that the Sapphire version isn’t available on Goodwill. We’re only using it as an example.
Do Items From Goodwill Lose Value Over Time?
Items from Goodwill can lose or gain value over time, similar to what pawn shops buy. This value depends on a few factors:
- Condition: An item’s condition is arguably the most important factor, as a bad condition can drop the price of even the most valuable item. The reverse is also true.
- Rarity: Hard-to-find items usually hold the best value, even over time. Also, these items are more likely to keep more value even when they’re not in their best condition.
- Demand: When an item is high in demand, it’ll retain value. This could backfire if you purchase an item that’s currently in demand, only for the buyers to lose interest in it later on.
Things to Consider When Reselling Items From Goodwill
Like any selling platform, there are a few things to keep in mind while trading. When it comes to flipping items from Goodwill, here are what to consider:
- You’ll research quite a bit: Flipping items isn’t easy. It takes some effort and time to learn how to resell items you bought from Goodwill and how to find and purchase those items to begin with.
- The market demands change over time: Items that are popular today may lose their popularity tomorrow. Trends and market demands can change quickly, and that can affect how much you can profit.
- You’ll occasionally lose money: Besides what you have to pay for shipping costs, you’ll end up with a bad bargain from time to time. That can be especially disheartening if you end up with a few bad deals in a row. But as long as you’re doing your research, you can consider those a few unlucky attempts.
Where to Resell Items From Goodwill
In this section, we’ll discuss three marketplaces where you can sell the items you acquired from Goodwill. Those are Poshmark, OfferUp, and Etsy.
Poshmark is a marketplace for buying and selling various items like clothes, home goods, and accessories.
What Makes This Option Great
Selling on Poshmark comes from its unique social aspect integration into the trading process. For example, you can follow (and get followed) by other users, and you can comment on items you see.
The commission may be a bit high at 20%, but in exchange, you can have limitless listings, and all of them are free. If utilized correctly, this can help you build a community and get more exposure to your items.
- Fees/Commission: 20% commission on all sales
- Payment Methods: Credit/debit cards, Apple Pay, Google Pay, Paypal, Venmo, and Affirm
OfferUp is a marketplace that’s specifically designed to work seamlessly on mobile phones.
What Makes This Option Great
The reason why OfferUp made it to this list is how it focuses on local transactions. This benefits both the seller and the buyer because they will meet in person and ensure that the selling process is done as safely and smoothly as possible.
It also has over 100 million users, which helps your items get as much local exposure as possible.
Keep in mind that the best items to sell on OfferUp are those that you can carry on your car or bike to meet your buyer.
- Fees/Commission: No fees for listing up to 40 items (after which it’s $0.50 per listing), no commission for in-person sales, and 12.9% for items shipped
- Payment Methods: Cash, Venmo, PayPal, Zelle, and bank transfer
Etsy is easily one of the largest online marketplaces in the U.S. for handcrafted items.
What Makes This Option Great
Etsy’s uniqueness comes from its focus on handmade and vintage items. In other words, it can be a gold mine for those who know their way around flipping vintage items.
According to Statista, Etsy had over 95 million active buyers in 2022 alone. That being said, you have a massive base of potential buyers that could be interested in so many items. You can even sell stickers on Etsy!
The one downside of this marketplace is its considerable fees, making people think twice before using it.
- Fees/Commission: $0.20 listing fee, 5% transaction fee, 3% + $0.25 payment processing fee, 15% fee on sales that are generated from offsite ads, and $0.45 shipping label fee
- Payment Methods: Credit/debit cards, Etsy gift cards, PayPal, Apple Pay, Google Pay, and Klarna
What You’ll Need to Resell Items From Goodwill
Here’s what you’ll need to flip items you get from Goodwill:
Before doing anything, you need to have an account on Goodwill. To create an account, click sign up > enter your email and password > check your email for verification > you’re up.
A Method to Repair Your Items
Depending on the items you specialize in selling, you’ll need some equipment to repair damage. Thrift stores like Goodwill often have a considerable amount of items that are damaged or in need of repair.
When you encounter those, you’ll have to make them in a better condition so you can resell them.
A Dedicated Platform(s)
Among the platforms we mentioned above (and a few more, like Mercari and Facebook Marketplace), you’ll need to pick and focus on only one or two of them.
Many of the online marketplaces have listing fees, and you don’t want to end up losing too much money just to get your items on display.
Instead, focus on selecting one or two platforms in the beginning to stay focused. If your name gets well-known, you may take your success to other platforms.
A Method to Purchase Items
You’ll need to buy your items from Goodwill before you can resell them. A credit/debit card is a widely accepted method to buy from Goodwill and sell items on other marketplaces.
Good Research and Organization Skills
You’ll need to identify the items that are in demand in the market. You’ll also need to find out which of those are available on Goodwill and the average price they sell on other platforms.
Further, you’ll need to factor in the possible repair cost of the items you buy before you resell them.
These aren’t easy tasks, which is why you’ll need some planning and research skills.
How to Resell Items From Goodwill: Step-By-Step Instructions
In this section, we’ll talk about the steps you should take to resell items from Goodwill. Since we’ve already talked about the importance of research, we’ll omit it from this section.
Step 1: Buy the Items You Need
After doing enough research and finding the items you need, you should buy the items that your budget allows.
Once you acquire them, you’ll need to carefully inspect them for any damage. Many items you buy from thrift stores can be fixed, but some of them are beyond repair, so you have to rule those out first.
Step 2: Prepare Your Items to Be Sold
After sorting your items, it’s time to work with what you have. Do your best to repair/fix the items you have to the best possible quality with the minimum possible amount of money.
Some fixable items may still be too difficult for you to handle by yourself, like electronics. In this case, you may take them to a qualified professional.
Step 3: Price Your Items
Now that your items are ready to be resold, it’s time to price them accordingly. Your pricing should be smart enough to yield some profit yet can compete with the average prices on the resale market.
For example, let’s say you bought a smartphone that’s normally priced at $500 for $200. You then spent $100 to repair that phone.
Based on that, you should price it somewhere between $350 to slightly below the normal price of $500 to make some profit.
Step 4: Take Good Photos
When reselling items from Goodwill, taking quality photos is essential. It’s not just about viewing your product but also about showing defects that you couldn’t repair or failed to completely mend.
While some people might think this is bad for business, being honest about the issues of your items (and setting the price accordingly) can give you huge credibility.
Step 5: List Your Items on the Target Platform
You have your repaired items and their intended prices. Now, it’s time to list them online.
After doing your research and knowing the listing/transaction fees of different platforms, you should already have a decision on where to sell at this point.
Can You Make Money Flipping Items From Goodwill?
The short answer is yes. You can earn good money by flipping items from Goodwill. Also, if you know your way around, you may even start a thrift-sourced resale business.
What Is a Thrift-Sourced Resale Business?
Flipping thrift store items are built on purchasing items for a low price at local thrift stores and online ones like Goodwill. Once you fix any defects in those items, you can resell them for a higher price at other online stores or retail stores.
Since thrift stores sell items for a cheaper cost than their market value, you can capitalize on the difference between the purchase price and the selling price.
Doing that consistently will keep your earning arrows up. If you’re able to maintain that pattern, you may start a business out of it.
To make things easier for yourself, focus on a particular category of things to look out for at thrift stores. For example, narrow down all your research to clothes. Starting a clothing business from thrift stores can be a lucrative business.
Is Reselling Items From Goodwill a Good Way to Make Money?
Reselling items from Goodwill is indeed a good way to make money for those who put enough dedication into it. However, it doesn’t come without its drawbacks. Here are the pros and cons:
- Low starting cost: You don’t need too much money to get into the reselling business. If anything, you can start by selling items that you already own and use the money you make to purchase items from thrift stores.
- Schedule flexibility: You’re not committed to fixed work hours. You decide when to work and when not to. Because of that, you can seamlessly integrate this side gig into your day without losing your current job.
- It rewards effort: If you put enough time into identifying valuable items and reselling them, you can make a lot of money.
- The competition is stiff: Many people are already in the item-flipping business. They’re out there making money and tutorials to help others start as well. It’s important to understand that this is no walk in the park and that you’ll face a tough competition.
- You’ll still pay taxes: Flipping items doesn’t exempt you from taxes. You’ll still have to pay taxes for any profit you make to avoid legal issues.
- Repairing and cleaning are a hassle: Preparing the items you buy for sale can take a considerable amount of effort, especially if you end up with items in a bad state.
Frequently Asked Questions
How Profitable Is Thrift Flipping?
You can make profits of up to $100,000 a year, or you can end up making a few dollars per flip. That depends on the quality of your research and the items you end up flipping.
Can I Sell My Stuff to a Thrift Store?
Yes, you can sell your stuff to a thrift store. However, you’re less likely to make a profit there. If anything, you may even lose money off valuable items because thrift stores don’t pay much for items that they buy.
Similar Tutorials to Check Out
If you’re interested in the reselling business, here are a few other tutorials for you to check out:
- Resell Dresses: If you have some old dresses lying in your closet, why don’t you make some money reselling them? If you like the idea, consider making a business out of it.
- Resell Home Decor: We’re all guilty of buying too many home decorations, but that doesn’t mean they have to sit there collecting dust. Resell those for money, or make a habit of flipping decorations.
- Resell Mattresses: Are you getting a new, more comfortable mattress? Don’t throw the old one away; resell it for some extra cash.
Reselling items that you acquire from Goodwill can be a rewarding experience. It’s not the easiest thing to do, but it pays off if you learn and work hard enough.
Do let us know what you think of this guide in the comments. Feel free to share this article with your friends and loved ones who may benefit from it.