3 Easy Ways To Make Money on Facebook Marketplace in 2020
Over the past decade, I've been buying and selling things. It's always been an extra source of income which has made a difference in my life, financially. In 2016, Facebook launched Marketplace and it shook up the re-selling industry. Facebook's broad base of users gave re-sellers not only a new place to buy and sell but a new audience to sell to. I didn't enter Marketplace until 2018, but since then it's become one of my go-to platforms to both buy and sell.
When buying & selling Facebook Marketplace, it's important to do the following:
- Take multiple pictures of the item in the best quality that you can
- Write up a thorough and honest description of the item
- Respond to each possible customer in a timely manner
- Meet in a SAFE place when buying & selling
Here are a few recent real-life examples of how I sell on Marketplace:
1. Sell your personal belongings on Marketplace
I'm not advising that you should sell all of your personal belongings to make some extra money. However, if you have things that you don't use, why not sell them? Every year, I look around my house and see if there is anything in this category. The first time I did it, there was a lot to sell. Now days, I can't find as much.
Recently, I decided to sell this video stabilizer. I was given a gift card awhile back and bought the stabilizer with it. I used it for a short period of time then didn't touch it for months. Instead of telling myself I'd use it again someday, I chose to get rid of it. I listed it on Facebook Marketplace and it was sold for $70 in less than 2 days.
2. Buy from a garage sale, clearance sale, etc. to sell on Marketplace
The most important thing about re-selling is that there's demand for the item at a profit. You don't want to try to re-sell an item that people don't want to buy or at a price they won't buy it for. Re-selling is almost as simple as that. My favorite way to find the value and demand for an item is with Ebay search options. In the search bar, look up an item you're thinking about selling then filter the search by "Sold Items". This will then show you how often the item is sold on Ebay and at what price.
I often stop at garage sales, clearance sections, estate sales or anywhere there's going to be discounted items. At a recent garage sale, I found this Tales From The Crypt light. I figured it was a collectors item and looked it up on Ebay. It was consistently selling for $50 to $100 dollars. So, I talked the seller down to $10 then listed it on Marketplace. It sold 2 hours later for $60.
3. Buy from Marketplace to re-sell on marketplace
Some people who sell on Marketplace don't price their items for as high as they could. Whether it's to quickly sell the item or not knowing the value, its an opportunity for re-sellers. As long as you do your research, this is an effective way to re-sell.
These Ralph Lauren shirts were listed on Marketplace for $10 and I knew right away that if the shirts were in good condition, money was there to be made. I checked out the shirts and decided to buy them. I then relisted the shirts for $25 and they sold a couple days later.
In my eyes, these are the best three ways to make extra money on Facebook Marketplace. Again, make sure you meet in a safe place when buying and selling. You never know who you're dealing with.
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