Making the decision to upgrade appliances may be motivated by a desire to own a more energy-efficient product, to upgrade to a new item that better matches the style and aesthetic of the room around it, or simply just because you want something new and high-performing.
However, choosing to buy a new appliance comes with another consideration to make: what do you do with the old appliance that you are replacing? Unless the appliance has fallen into disrepair or does not function at all, chances are that it is still useful for someone who may not be able to afford some of the newer appliances that are currently on the market. While you won’t be able to gain the full value of your purchase back, you can still make some money that you can use for other purposes.
Of course, on the other hand, you may be someone looking to sell used appliances as a “flipper”, buying them up for cheap, taking care of the necessary repairs, and then making a profit by selling them online. This can be one way to make extra money on the side if you are looking for additional income streams at the moment.
But how exactly are you supposed to sell old appliances and where can you begin? If you anticipate purchasing a new appliance and want to know what to do with the older model, here is a comprehensive guide for selling your used appliances and making cash in the process.
Selling Used Appliances for Cash
Considerations Regarding the Quality and Pricing of Your Used Appliances
Selling stuff that you own comes with a unique challenge. That challenge is in regards to pricing your products. If you price too high (especially if your used appliance isn’t the best quality), you are going to have a very hard time finding buyers. However, if you price too low, you run the risk of losing out on money that you could’ve earned through the sale of your appliance. But how do you determine these items, and is there any advice out there that can help you make sure you are able to sell? Here are a few things to consider when pricing your items and prepping to sell them.
What Is the Overall Demand for Your Product (and Who Else Is Selling These Items)?
Selling a used appliance is like selling anything else. You are only going to get what you are asking for if there is a demand for that item and if you can price it fairly. The most important first step to take when trying to sell a used appliance is to look around and see just how many people are actually looking for that product.
For example, chances are that you are going to fare much better selling a refrigerator that has been well cared for rather than trying to sell an older coffee machine that didn’t cost you much to purchase in the first place. This is largely due to the fact that there is a higher demand for fridges (due to the absolute need for them as well as rising prices), which means people are always going to be looking for them. Meanwhile, inexpensive, small appliances that could be easily replaced most likely aren’t going to find any buyers.
You should also take a look around at who else is selling the same kind of product you are looking to sell (make sure to look for those selling the exact same product to get a general price range as well). This will help you better understand what the average price is, why people are pricing their items the way that they are, and whether or not people are responding positively to those prices.
Finally, it is important to ask yourself, is it worth selling this item? If you are putting in far more time trying to find it a home than is profitable for you, it may be a better idea just to dispose of or donate the product and move on. Some items just aren’t worth the time selling, and we can generally make come to a solid conclusion about this when looking at the general price of and demand for similar products.
How Should I Price My Used Appliance(s)?
So, you’ve decided that selling your appliance will be a good idea. But how are you supposed to price it? The answer depends upon several factors regarding the used appliance itself. While you are certainly not going to fetch the same price for it that you paid when you first got it, you may be able to recoup some of the costs with the right asking price. Some great tips that will help you during the pricing process include:
- What Is the Condition of Your Appliance?: Transparency is key when you are selling something online. Buyers who physically see the product through your pictures and get a detailed overview of its performance and any issues it may be experiencing helps to establish trust with potential buyers. Make sure to list any and all issues with the appliance and consider that when creating a resale price. The more damage it has, the less you are going to have to ask for it in comparison to others who are selling the same type of product but in much better condition. (ALSO, it is important that you disclose its functionality. Even if it looks great and you could convince a buyer that it is in perfect condition, they need to know about any issues ahead of time. Honesty will go much farther when trying to sell used appliances.)
- What Are Some of the Features and Advantages It Provides?: A basic appliance does the job. However, there are some appliances that offer special features that make the owner’s life a little bit easier. What are the highlights of your used appliance? Are they unique to that product alone? Are people willing to pay more for these types of features and advantages? These are just some of the questions that you should ask yourself as certain features may allow you to price a product higher than similar products with fewer features and positives in their use.
- What Is It Selling for Online?: The problem with only looking at similar products being sold online is that used appliances are vastly different, especially when it comes to certain appliances like refrigerators, for example. What you will need to do is research the same appliance that you have and see how much it is being sold for online. This will give you a better idea of how much people are charging for the same product, which prices may be too low, which prices may be too high, and which prices offer a fair deal for the product that they are (and you will be) selling.
- Calculate the Average Price Through Research: Once you find a relatively large number of listings online that feature your appliance, calculate an average price based on your findings that will give you a fair price to put on your listing. As was stated above, some people may ask for too much and some people may ask for too little, which is why it is important that you find the perfect middle price that will help your appliance get sold without undervaluing it and losing out on money that you could have potentially made from the sale.
- Anticipate Negotiations From Buyers: Unless you are selling a completely new product, selling used appliances is a completely different experience entirely. Selling through platforms that offer used products will require you to speak directly with potential buyers, which means that you are almost always going to run into people who wish to negotiate the price down. There are two ways to work around this. The first is to price your item and specifically state that the number listed is the lowest you will sell your item for. This will serve to weed out anyone who may be trying to bargain your listing down. The second is to price it slightly higher than you normally would. Using this method, you can bargain them down to your actual desired price, making them think that they got a discount when they are paying the price you initially wanted to list. Whatever you choose to do, you must know that selling a used item will require decent sales skills and the ability to make people see the need for or value in the item you are selling.
Once you know more about what you are selling, what other people are selling it for, and how much you may be able to fetch, you can begin the process of undertaking the project.
Tips for Those Looking to Become Resellers of Used Appliances
As you can imagine, there are some similarities between individuals who are looking to sell their own used appliances and those looking to make a side income regularly flipping these same products. However, there are some further tips that you will need to know in order to successfully engage in the latter activity. So, what should you know if you are looking to make the most of your flipping efforts? Some great tips to help you better navigate this type of side hustle includes:
- Look for Good Deals on Products Near You: “Near you” is the biggest term to focus on when looking for items to flip. While you may find products that are priced relatively high, there is an equal amount of opportunities provided by individuals simply looking to get rid of something they can no longer house, which can result in a steal for you (you should also look for deals where people are willing to give away multiple appliances at the same time for relatively low costs). However, it is important that you take into account the location of where these good deals are located. If they are located too far from you, you have to take into account how much it will cost to get to the destination and back, as well as whether or not it is worth the work to load and unload the appliances. When looking for appliances to flip, focus on whether or not the item is flippable and whether or not it is close enough to be worth traveling for.
- Be Aware of What It Takes to Successfully Make This a Side Hustle: People who make decent side income through this type of side hustle know that there are some initial investments to be made if you are looking to do this on a part-time basis. This includes having the right vehicle to carry around inventory, enough space to store inventory, items like a dolly and ropes to move around appliances, a generator to test the products onsite so you know they function as advertised, and ramps, just to name a few. If you want to make a regular income from flipping, you will have to make a few investments at first.
- Know What Makes a Potential Profit and What Types of Products to Avoid: Purchasing appliances simply because you got them for cheap can result in an inventory full of things that are not going to sell. Make sure that the products you have your eye on are both in-demand and are able to be sold and avoid any appliances that are missing key items that can’t be replaced, are damaged to the point where repairs that need to be made are extensive, do not fit in with what the average person is looking for, and has any operational problems that will affect the overall value of your flip. While much of this will come with time and practice, these are some key things to learn more about before starting your flipping journey.
- Consider Offering Additional Services to Make Extra Money for Your Efforts: Where there is an opportunity to profit, there is generally an opportunity to make more. Some flippers will boost their income by making repairs to certain households that they visit, offering to haul away junk that someone may not need anymore and would cost them more to haul away, or even cleaning certain things that need to be taken care of in the areas that contain the old appliance. While this will require some extra work on your end, it could make you more money on a regular basis (this is just something to think about if you are going into flipping in order to make some much-needed money on the side of your regular job)!
Used appliances are always in demand, and this is due to the fact that there is a steady stream of individuals like landlords, people in the market for budget appliances, or people looking for additional appliances who are going to want to buy your inventory. How much can you make? Some people who flip used appliances can make $1,000 a week doing so, so if you want an additional stream of income that won’t be too difficult to get started. But where are you supposed to sell all of these used items? Let’s take a look!
Where to Sell Used Appliances
Whether you are someone who is simply trying to make money on an old appliance you need to get rid of or someone who wants to develop their own business selling used appliances, the most important part of the process is figuring out where to sell these items. The good news is that there are multiple places that will help you get your products out there and in the sights of people who need affordable appliances. Some of the biggest platforms and ideas to look into are:
- Craigslist: Craigslist has been around for quite some time, which means that it has already established itself as one of the go-to places where people can find items for sale like used appliances. Although Craigslist has developed somewhat of a negative reputation over the years, you can avoid putting buyers off by making sure that sales are conducted in a safe, open manner.
- Facebook Marketplace: Another application that needs no introduction, Facebook Marketplace is a relatively new entry that helps buyers find both local sellers and shippable products. If you want to tap into a large audience looking to buy used items, you should definitely list your product on Facebook Marketplace.
- Selling Your Items in a Garage Sale: This suggestion isn’t for those with a regular flipping business, but those who want to sell their item quickly and easily. Yard sales are the perfect opportunity to get rid of things you no longer want, and it is not odd to see the used appliance here and there when venturing to garage sales. Selling through a garage sale will also give you the opportunity to talk extensively with a buyer before making a sale. You can also use apps that provide a similar experience, like Varagesale. (As a side note, garage sales and estate sales are perfect places to buy used appliances at as well!)
- Selling to Your Local Used Appliance Store or Pawn Shop: If you want to get rid of a used appliance quickly, one option you have is to reach out to a used appliance store or pawn shop and see if they are willing to take it off your hands. Just keep in mind that they too have to make a profit, and will offer you less for it than you make if you were to sell it yourself.
- OfferUp/LetGo: OfferUp is a sales app that allows you to sell goods locally and because it has been around for longer than other sales apps, has developed a good reputation and solid user base. LetGo was another local sales app that provided the same services, but it was recently absorbed by OfferUp, so now the latter dominates this market as it owns two of the most well-known local sales apps (which is great for those looking to sell their used appliances to interested buyers in their area)!
- 5Miles: Looking to try something a bit different that is designed to offer a safer, more secure buying experience? 5miles is a new local sales app that was constructed out of the desire to create a better experience for buyers who were sick of fake listings and overpriced products. Just join, get verified, and list your products!
There are some other recommended apps and emerging apps that may work for your needs. However, these are some of the best ones that will likely find you local buyers (or ones that you can purchase goods to flip through) and ones that will not require you to have to ship your products to consumers, which is not possible if you are looking to sell larger used appliances.
Before we close this guide, we will also need to touch on one important aspect of selling: optimizing your listing!
Tips for Making Your Used Appliance(s) More Appealing to Buyers
Having trouble selling your items? This isn’t a rarity for those who are just listing their first product on an online platform. This problem can be due to any number of reasons, but optimizing your listing to make sure that you stand out to buyers means following a very specific set of rules that are designed to help you succeed. What are these rules?
- Be Open and Honest About Your Listing: Buyers value transparency, especially when they are looking to buy a used item. Whether your appliance has any damage, has any problems with its functionality, or has any other issues that will need to be addressed before someone buys, make sure to create a listing that is open about these issues so that buyers know what to expect if they decide to make the purchase.
- Take Pictures That Are Sure to Entice Buyers: A picture is worth a thousand words. As such, you need to make sure that you have clear, well-lighted pictures of the appliance that you are looking to sell. These pictures should cover all areas of your appliance and provide potential buyers with a comprehensive overview of the product. The better your pictures, the more likely a buyer is to purchase your appliance over someone else’s listing on the same platform.
- Write Catchy, Attractive Sales Copy: While you don’t have to be a novelist to sell used appliances, you do have to write a description that is clear, describes the appliance, and makes it appealing to the people who are looking at your listing. The better your words, the more likely you are to attract serious buyers who are looking at products just like yours.
- To Deliver or Not to Deliver?: Not everyone looking to sell major appliances will deliver, but being able to bring products to the buyer can be a major perk that may entice them to make the purchase, especially if they live a bit further than five or ten miles or don’t currently have the means to take the appliance back home with them. While you don’t have to deliver, this is something you should keep in the back of your mind while you’re writing up your listing.
- Let People Know Where the Listing Is Located: Location is important. Just like you wouldn’t want to travel far to pick up a used item, no one is going to want to have to travel far to get your used appliance. Be transparent about your location so that you can find local buyers who are interested in your appliance.
- Talk About Any Updates or Repairs You’ve Made: If you’ve made any changes to the appliance you are selling, it is helpful to disclose that to the buyer. This will let them know which aspects of the appliance are the same and which have been modified to improve function and performance. If any of the pieces serve to improve the appliance as a whole, this may be a major selling point!
- Educate Buyers About the Product You Are Selling: Chances are that when you are shopping for something, you are not going to buy it without doing your research. Make sure to give you buyers plenty of links and helpful information regarding your appliance so that they know what the original product has to offer (and what they will be getting when they purchase the product that you have put up for sale).
- Tell People Why You Are Selling the Used Appliance: People will sometimes get worried about a used product because they are concerned that it may not be functional or may underperform. Whether you just bought a replacement, you no longer have room for it, or you are doing this as a business, be open about the reasons you are selling. This can alleviate any of the fears buyers may have and make your listing more approachable.
Once you know how to make your listing stand out and go above and beyond any competitors, you are going to have much better chances turning those unused appliances into profits!
Selling old items you don’t need anymore or flipping products that other people are selling can be a great way to make a little extra money on the side. No matter which of these choices you are making, however, there is an art to buying and selling these kinds of goods that you will need to learn in order to make sure that your efforts are fruitful. Whether you are selling your own appliances or flipping others, use the guide above to learn more about where you can sell/buy, what flippers and sellers should know to be successful in selling these items for cash, and where you can begin to sell all of the used appliances you have today!