In the beginning... ANEBODA

DAY 1


So my first purchase was a three drawer dresser (with a broken leg) from IKEA...

I found someone selling this online for $10 and did a quick search on the IKEA website to find out the price for a new dresser was $59.99 


A good rule of thumb when figuring out how much profit you can earn second hand is about 1/2 retail value.  Sometimes you can do better if an item is rare or discontinued, but for the most part - assume 1/2 price.  SO - I knew in good condition that this would go for at least $30.  The key here is good condition - that broken leg would not do.  


So - in comes hubby and power tools to the rescue!  Geordie quickly took the leg off - repaired it and had the whole thing solid as can be.  We posted it up for sale the same day for $30 and had it sold and gone by that evening.  Not bad - $20 profit for a small amount of work.


Now - when I talk about profit from my sales, I won't mention the additional costs such as gas and time spent picking up the item.  I'm not that hardcore yet - but if something is really close to you - it's even better.  I would go a distance for a great deal. :)


Summary


Purchased: $10
Sold: $30
Profit: $20