If you scrounge the Craigslist ads a lot you might notice a theme with high end items. A lot of people will say "bought last year for $1200, selling for $200". If you do the math that's around $83 dollars a month to use (kind of like renting) the item. They might be selling for a number of reasons but I seem to see a lot of people who just change their mind about something once it is in their house. They realize that they don't want it.
Those of us who buy 2nd hand don't experience this on such an expensive level.This is the beauty of thrifting. We can change our mind every day if we want and overall we probably won't lose too much money. I love my couch and I plan on keep it for the next decade but if I do decide to sell it, I would definitely sell it for more than the $50 I paid for it. A "rent to own" where the cost is actually beyond free.
I look at thrifting as an investment and at the moment, it is paying off for us. Last week we learned that we most likely have to sell our sweet home because renting it will not even begin to cover the mortgage. Our money is going to be extremely tight in Santa Monica. At the moment we plan to put the house on the market at the very end of March. Which means I have to get it emptied now. Last weekend I had a burst of energy and listed a bunch of items on Craigslist. We sold over $400 in furniture and other items. Two more people are planning to come this weekend and leave us with $450 more. This money is going straight in our savings account for our move. One of the items I sold was an old oak English pub table. I bought it at Goodwill for $25.00 five years ago. It needs to be refinished but still is an amazing table. I priced it at $100.00. It sold within the hour to a woman who plans to refinish it. Now if you do the math okay I need the calculator for this one we were paid $15.00 a year to own this table. That's my kind of "rent-to-own" scheme that I like.
I don't feel guilty at all about making a small profit on a table that I used and loved. I researched first and found that tables in good condition are listed for around $350 on Craigslist. Maybe I could have asked more but I wanted it to sell quickly. I have a 1200 square foot basement and a 950 square foot apartment that are both filled to the brim with stuff. The woman who purchased it was very pleased with the table, happy about the price and will probably make the table look fabulous. We are both satisfied.
We also sold our hutch this weekend and the woman is coming tomorrow from Seattle to pick it up. I love this hutch but it is so big and I have no idea what our little rental in Santa Monica will be like.
Anyone remember when I bought it? It's funny but I thought I paid $250 for it but we paid $175.00. You would think that I would have a better thrift memory. I think I need to write this stuff down. It sold for $300.00 which I think is a good value. I will still make a little money on it, it was basically free to use for the last couple of years and it pays for the teak, danish modern piece that I picked up for Craigslist for $50 that will replace this hutch.
I tend to look positively on my Craigslist transactions. I don't try to take advantage of people but I do sell an item at a price that I think it is worthy of. I mean if I had the skills to do something else like teaching, being a doctor or a lawyer, maybe I would be doing that instead of the art of Reselling. But that's where my skill is and I try to use that skill on a daily basis. Besides it is the other side of thrifing. While I love to buy thrifted items, I equally love to sell. I couldn't think of a more satisfying job for me. I love researching an item and figuring out the best price to sell it. At least it keeps my brain active.
Do you thrifters ever sell an item for more than you thrifted it for? Do you feel guilty? Pleased? Share with us your own favorite ReSale.