hi guys my name is ryan the frugal
analyst and recently i just sold the
samsung galaxy
s8 on craigslist and it took me 15
minutes to create the post
and it was sold one day later craiglist
is a great way to sell your used item
without paying any fees
today i will go over the 10 things you
should know before selling on craigslist
tip number one always meet the buyer in
person
craigslist is all about selling locally
if the buyer wants you to send
them the item or have someone else pick
up the item on their behalf
don't do it most legitimate buyer will
pick up the item themselves
if they want it shipped they can go to
ebay instead tip number two
receive payments in cash no venmo no
paypal
no checks cash is the safest and the
standard medium to pay
for items in craigslist venmo and paypal
has risks where the buyer might send you
money
and then reverse it afterward by calling
in fraudulent activity
a story went viral a few years back when
someone was selling a camera gear
the buyer paid in venmo and then the
payments gets
reversed the seller would be responsible
for reverse payments so
please keep it safe with cash checks is
also risky
checks might be written forged or
bounced without real money in the bank
account
an exception to checks would be if
you're selling a large ticket item
like a used car and that transaction
with a check
might need to be done at the buyer's
bank so if the buyer
bank with let's say chase and
if you don't have a chase account before
meeting up to the buyer open up a chase
account
and basically have the ability to cash
that check
immediately to your own account and
execute the transaction right in the
bank
all in all keep it simple and accept
cash only tip number three
first come first serve never hold an
item for anyone
there are a lot of flakes in crickles
and maybe in the world in general
when i tried to sell my phone someone
texted me and they said they wanted to
pick it up in the evening
i was really excited but it turns out
they never showed up
tip number four meet at your own
convenience the buyer needs to come to
your location to pick up the item
not the other way around pick a place
during daylight hours in public where
you are comfortable to meet
tip number five set a reasonable price
compare prices from
ebay amazon or facebook marketplace to
see
listing prices what was sold and if
there are a lot of
inventory or not in the market i once
sold a used standing desk in craigslist
and there was no used market in this
case i set a small discount like 20 to
30 percent off
compared to new prices remember that the
buyer is likely comparing
prices that they can see and low
inventory allow you to mark prices
higher
the next step is firm pricing when i
tried to sell my phone
after the buyer looks at it the buyer
tried to negotiate the price to be ten
dollars lower
even though i knew my price was fair
know that the buyer made the journey
including time and energy to come to
your location
if they want it for slightly less they
are probably just trying to take
advantage of the situation
just know that you have a strong
negotiating power when they decide to
drive all the way to your location
every situation is going to be different
but i would say a
slight discount is probably unnecessary
unless there are significant flaws
discovered prior to the purchase
tip number seven avoid scams and be
suspicious
within an hour of my posting people are
already trying to scam
me there's a google voice scam where
they want me to read a code so they can
steal my phone number
when your information is public on
craigslist know that there might be
some scam and the best way is to use
common sense a real interested buyer
would ask if the item is still available
more details on the item and they would
be willing to meet in person to take a
look and pick it up
if they want something else it's
probably a scam
remember you get to pick and choose who
you want to deal with
and they better look legit otherwise you
can just ignore them
tip number eight repost weekly depending
on your item
it might sell quickly or it might take
longer last time i sold my standing desk
it took me two months to find a buyer
some items are more liquid or illiquid
than others
if the item does not sell after a week
repost it so that your listing is fresh
on top
have patience and if the item is
valuable someone will show up one day
tip number nine keep the original box if
you have an item that you know you will
sell in the future
like a cell phone keep the original box
if you have a box of an item
it makes the product feels more premium
it really shows the buyer that you care
for the item
so keep the original box if you plan to
resell tip number 10
no trading there was a viral video on
tech talk where this lady was trying to
trade
a pin to ultimately get a house now if
you're doing it for entertainment that's
fine but seriously
don't trade the whole concept of cash is
to avoid bartering and if
someone wants to trade with you just say
no this lady also say that
bartering works in one of every 5 000
tries
so please don't trade items you can flip
items on craigslist
but use cash as a medium so that's it
for my
10 list to know before selling on
craigslist to me selling on craigslist
is cheaper than ebay
by not having to pay a listing fee and
shipping fee
that could take 10 to 30 percent of your
profits
i find the selling process fund meeting
new people
and hopefully create a win-win exchange
with someone local
in your community so i hope you make
some money liquidating your unused item
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