Are you sitting on a fortune? This Aussie ‘flipper’ reveals what used items sell for big bucks
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Are you looking for a side hustle and a way to make extra cash?
Many of us have unwanted items lying around at home or collecting dust in the garage. But very few of us realise that some of these items might actually be worth a small fortune.
Matt Diedrich, a ‘flipper’ and business owner, has been making money off second-hand items since the beginning of the pandemic.
'Flipping' refers to buying and fixing up second-hand items and reselling them at a higher price.
Diedrich has turned his side hustle into a fully-fledged business, making him thousands of dollars by selling various second-hand items.
'Typically, I go to thrift stores, garage sales and flea markets, and then sell the items on eBay and Facebook Marketplace,' he shared.
‘I've been doing that for two-and-a-half years and I've made some crazy cash.’
What items fetch big bucks?
Since starting a few years ago, he has gathered some experience on which products will likely sell. Diedrich names shoes, clothes, video games, and DVDs as the four most profitable items.
'Last year, I did 30% of my sales in the DVD category alone – it blew my mind,' he said.
He’s had some success stories in the past. His most profitable resell to date was a $20 boxset of the show Ice Road Truckers that he resold for $400.
'Other popular items have been clothing, particularly sneakers. I sold a pair of Jordans for $400 that only cost $200 from a thrift store,' Matt added.
Tips on starting a flipping business
No matter your chosen items, having the right strategy in place is essential to get the most bang for your buck as a flipper. Matt Diedrich recommended that, first and foremost, you undertake research before heading out in search of gems.
'Do the research. Starting at home is the best place to get into it because it’s risk-free, and you don’t have to put any money down,' he said.
He also suggested testing the market by selling a few items first to gauge their potential and pinpoint items with significant value.
Educate yourself on the items that sell well and know the market prices so you won’t be scammed.
Look for unusual or rare items that aren’t widely available and always inspect what you’re buying to ensure it’s in working condition and worth the money you’re spending.
If you’re unsure what you’re getting your hands on, always consider the worst-case scenario, so you don’t bite off more than you can chew.
Capture the interest of potential buyers by utilising your selling prowess through storytelling, providing additional information, and demonstrating its functionality.
Finally, try to keep your margins competitive to allow yourself to make back what you’ve invested and more.
With this new knowledge, it’s time to take a good hard look at your home and see if there are any hidden gems lurking in your drawers or cupboards. Don’t be afraid to take risks and above all else, have fun!
Members, do you have any treasures lying around the house? Has anyone made any successful resells? Share your tips and experiences in the comments below!
Also, for those who are looking to get started on selling on eBay, we recommend checking out this step-by-step guide:
Credit: YouTube/The Aussie Flipper
Many of us have unwanted items lying around at home or collecting dust in the garage. But very few of us realise that some of these items might actually be worth a small fortune.
Matt Diedrich, a ‘flipper’ and business owner, has been making money off second-hand items since the beginning of the pandemic.
'Flipping' refers to buying and fixing up second-hand items and reselling them at a higher price.
Diedrich has turned his side hustle into a fully-fledged business, making him thousands of dollars by selling various second-hand items.
'Typically, I go to thrift stores, garage sales and flea markets, and then sell the items on eBay and Facebook Marketplace,' he shared.
‘I've been doing that for two-and-a-half years and I've made some crazy cash.’
After starting it as a side hustle during the pandemic, flipping became Matt Diedrich’s full-time career. Credit: YouTube/The Aussie Flipper.
What items fetch big bucks?
Since starting a few years ago, he has gathered some experience on which products will likely sell. Diedrich names shoes, clothes, video games, and DVDs as the four most profitable items.
'Last year, I did 30% of my sales in the DVD category alone – it blew my mind,' he said.
Second-hand items that can sell for high prices online. Credit: Seniors Discount Club.
He’s had some success stories in the past. His most profitable resell to date was a $20 boxset of the show Ice Road Truckers that he resold for $400.
'Other popular items have been clothing, particularly sneakers. I sold a pair of Jordans for $400 that only cost $200 from a thrift store,' Matt added.
Tips on starting a flipping business
No matter your chosen items, having the right strategy in place is essential to get the most bang for your buck as a flipper. Matt Diedrich recommended that, first and foremost, you undertake research before heading out in search of gems.
'Do the research. Starting at home is the best place to get into it because it’s risk-free, and you don’t have to put any money down,' he said.
He also suggested testing the market by selling a few items first to gauge their potential and pinpoint items with significant value.
Educate yourself on the items that sell well and know the market prices so you won’t be scammed.
Look for unusual or rare items that aren’t widely available and always inspect what you’re buying to ensure it’s in working condition and worth the money you’re spending.
If you’re unsure what you’re getting your hands on, always consider the worst-case scenario, so you don’t bite off more than you can chew.
Capture the interest of potential buyers by utilising your selling prowess through storytelling, providing additional information, and demonstrating its functionality.
Finally, try to keep your margins competitive to allow yourself to make back what you’ve invested and more.
With this new knowledge, it’s time to take a good hard look at your home and see if there are any hidden gems lurking in your drawers or cupboards. Don’t be afraid to take risks and above all else, have fun!
Members, do you have any treasures lying around the house? Has anyone made any successful resells? Share your tips and experiences in the comments below!
Also, for those who are looking to get started on selling on eBay, we recommend checking out this step-by-step guide:
Credit: YouTube/The Aussie Flipper
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