Reselling Electronics

Almost everyone has old electronics lying around without use. This little fact brings us to one question: What to do with them?

Well, if you have any extra gadgets—or know someone who does—you can easily get into reselling electronics!  In today’s article, we’ll guide you on how to do that, as well as the pros and cons of the venture.

An Overview of Reselling Electronics: A Primer

Instead of asking you to imagine a fake scenario, we ask you to look around your home. Search for old gadgets collecting dust or ones you don’t use regularly.

You’ll find at least one gadget sitting there waiting to be sold or recycled. This is the basis for reselling electronics.

The seller knows we all have old phones shoved in the back of a drawer or an analog TV that we haven’t gotten around to throwing.

With that information in mind, the seller works his magic to buy the used or unwanted electronic device at a reasonable price. He then assesses, cleans, and repairs the product, if necessary, before selling it again at a better price.

Related: Repairing broken electronics as a side hustle

How Much Can Reselling Electronics Earn You?

Determining what reselling electronics could get you is tricky. This is mainly because it depends on numerous factors, such as the type of electronics.

For instance, high-demand items like iPhones and premium Androids can fetch a good price, especially if they’re in good condition.

Regarding laptops, Apple, HP, and Lenovo, especially their high-end models, tend to resell at a higher rate. This is not even to mention the vintage consoles and video games that people want to obtain.

Now, if you’re a casual seller with no genuine commitment to this side hustle, you could make a few hundred to a couple thousand annually.

For those with strict schedules to resell electronics, their revenue could go up to around $20,000 annually or more.

Mind you, these numbers are only estimations, and to achieve anything close, you’ll need significant investment, critical thinking, and time management.

How Much Does it Cost to Start a Side Hustle Reselling Electronics?

Starting a side hustle in reselling electronics can be relatively affordable, but costs can vary according to your approach.

To start, there’s no direct cost if you start selling your personal devices. But if you’re buying gadgets, the price varies, increasing your budget. You could diversify your inventory for a good beginning, costing $500–$1000+. 

Let’s not forget that not everything you buy or sell from someone or your private collection is 100% functional. You might need to fix broken items here and there, which requires an extra budget of about $250.

Now, for the products to reach the client in pristine conditions, you’ll need bubble wrap, boxes, and other protective materials. This can cost an extra $50–$150.

Finally, to get the word out about your business, you must register in various online stores. Most online marketplaces, like eBay and Amazon, take fees out of your listing with each sale. The price differs, but you’ll need around $100 for the possible expenses.

Where Can You Resell Electronics?

Diving into the world of reselling electronics can seem daunting at first. Luckily for you, various ways make it easier to get gigs, including the following:

Where to Independently Resell Electronics

If you like being your boss, you must start with companies like eBay. It’s one of the oldest and most established online marketplaces.

One of its special features is the auction-style listing where potential buyers can bid on your item and the “Buy It Now” listing.

Another company that gained popularity in recent years as a local sales app is OfferUp. It’s a customer-to-customer platform that helps you set your price and negotiate directly with the buyers.

While reselling on eBay and OfferUp is relatively easy, using Craigslist has its own charms, so you might want to give it a shot!

Gig Economy Companies That Help to Resell Electronics

For some individuals, being your boss can be overwhelming. If you’re one of them, you can enjoy bigger companies’ benefits, like Decluttr.

With Decluttr, you can send the electronics you want to resell directly to them. All you have to do is scan the barcode on your product, instantly get an evaluation, and ship it to them for free. After receiving the item and inspecting it for malfunctions, they send the money to you.

There’s also Gazelle, another platform like Decluttr that allows you to resell electronics. Instead of the bar code scanning, you get a quote for your item, ship it for free, and get paid after inspection.

Why You Should Consider Reselling Electronics As a Side Hustle

There are various reasons to get into reselling electronics and make extra cash, including:

• High Demand: With new gadgets and cell phones coming out yearly, people are now selling old phones and even wondering how to sell laptops. Because of this continuous cycle of updates, you’ll always find demand.
• Excellent Profit Margins: The best part about reselling old electronics is that you can get it for cheap. Most people are generally trying to get rid of their gadgets to upgrade, which allows for significant profit margins.
• Eco-friendly Venture: You’re promoting sustainability by giving old electronics a second chance at life. This is because you’re reducing electronic waste, which can negatively affect our environment.

Problems With Reselling Electronics

Of course, not all jobs are perfect, and reselling old electronics is no exception. Here are some of the most prevalent pitfalls and issues relating to the venture:

• Volatile Market: The problem with current technology is that it could be seen as “outdated within a few months.” Every year, there’s a new phone or a laptop, making selling old ones even harder.
• Competition: Because of the constant changes and updates to every gadget, the electronics reselling market is full of tough players. From established companies to individual sellers, you’ll have to push your prices and profit to the limit.
• Building Trust: What can make you trust someone selling an old device? It’s a tricky question to answer and even tougher to achieve in practice, but sadly, it’s a must-do to create a loyal customer base.

Frequently Asked Questions

Now that you know what reselling electronics is all about, here are some of the most popular questions regarding the venture:

What Electronics Have the Highest Resale Value?

There are various devices that can fetch a good price, including the following:

• Apple Products: Their flagship phones, iPads, and Apple Watches can get great prices.
• High-Quality Android Smartphones: Mobile phones like the Samsung Galaxy S series are often resold for excellent prices.
• Gaming Consoles: If you find a limited edition PlayStation or Xbox, you can sell it for a great price.

Is Reselling Electronics on Amazon Profitable?

Yes, reselling electronics on Amazon can be profitable. Why, you might wonder? It’s because Amazon offers a vast customer base, as it’s one of the biggest online marketplaces.

It also has an FBA program that helps sellers handle the products and shipping, making the process much smoother.