Its estimated that, by 2008, there will be $63 billion dollars in obsolete merchandise in the US market. These goods arent unusable; most still have a great deal of life left and that fact presents a tremendous opportunity for online sellers. Because, while these items are no longer the latest, flashiest models available, theres still a market for them one with a great deal of profit potential.
Business-to-business (B2B) auction web sites provide E-Biz owners access to large retailers overstocks and excess inventory. Says Bill Angrick, CEO of bulk auction site http://Liquidation.com, Online sellers and E-Biz owners are always in need of new product sources. With B2B auctions, youre getting below-wholesale price points that let you compete in the marketplace.
Performing Due Diligence
To use an auction site effectively, start by conducting market research. First, review the goods youre interested in and gauge the price at which you can resell them. Factor in the costs related to repackaging or refurbishing the inventory, shipping costs, and any buyers premiums. Determine the profit margin you need to make; and from there, work backwards to figure out the...
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