Thinking of starting to resell clothes or other items on a popular platform like eBay or Poshmark?
One question you may have is where can I sell my clothes? We discuss that in this article: 5 TOP RESELLER PLATFORMS THAT ALLOW YOU TO MAKE A FULL-TIME LIVING
Once you have the optimal platform for you, one of the first things you should do is to determine how much you are going to list your items for. These are the steps that I take to determine how much I will sell an item for.
1. Research similar items
Take note of what similar items like yours previously sold for, you can often find this information by simply typing in your item into a Google search and clicking on shop or photos and choose either a similar item or if you’re lucky your same item to see what they are currently priced for.
2. Check the sold for prices
The best-case scenario is if the item has already sold because that will give you an even better idea of the current value of the item.
Finding out how much an item sold for in eBay is simple all you have to do is filter for ‘sold items’ in the left-hand column
What comes up are prices listed in green and this is what the item sold for. If there is a line through the green price that means that it sold at a lower price than the listing price.
3. Is it sold out?
If an item is sold out, that usually makes it much more valuable and while you don’t want to price gouge your constituents you can charge a slightly higher price for a coveted item. Make sure there are no others listed like yours so check as many websites as you can. Also, be sure to state that the item is sold out somewhere within the listing.
4. List accordingly
Between these two numbers, the current list price for active listings and the sold price for those that have sold, you should be able to come up with a fair price for your item.
If you are accepting offers or selling on a platform like Poshmark where people are 99% of the time going to send you an offer rather than purchasing your item at the asking price you should list your item slightly higher to get the price you want in hopes that your purchaser will get a great deal and you won’t lose money in the process.
5. Don’t under or overprice
Try not to over or underprice your item, coming somewhere in between the current list and sold prices for an item is a good strategy, especially if they are just a couple of dollars difference. Your item shouldn’t be the highest-priced item as it will probably sit for a longer period of time, but it also shouldn’t be the cheapest item listed.