Whether you are looking to make a little extra cash or start a new business, flipping items can be a very profitable venture. In this article, we will discuss some of the best things to buy and sell for profit in the UK and provide tips on where to buy and sell these items. If you stay with us until the end, you’ll find advice on how to get started in the world of reselling, so let’s dive right into the topic!
What Is Reselling?
Reselling means buying an item and then selling it for a higher price. This can be done online or in person, and many people make a living out of it.
To be successful at reselling, you need to have an eye for good deals and know what items are in demand. You also need to be patient, as it can sometimes take a while to sell the item.
The latest online shopping statistics show that the online purchase penetration rate in the UK was expected to reach 86.2% in 2021. Therefore, now is a great time to get started in the world of reselling!
How Much Money Can You Make From Flipping Items in the UK?
There is no limit to how much money you can make from flipping items in the UK. It all depends on how much time and effort you are willing to put into it and your ability to find good deals and sell items quickly. Some people make a few hundred pounds each month from reselling, while others make thousands!
If done correctly, reselling can be a very profitable business. However, it is essential to remember that success takes time and effort. There are also a few risks involved, such as not being able to sell an item or losing money on a bad deal. Still, if you are willing to take these risks, flipping items for profit can be a great way to make money in the UK.
Is Reselling Legal in the UK?
Yes, reselling is legal in the UK. You can buy and resell items anywhere in the country or on international markets as long as you comply with all regulations and laws on reselling products in the UK. For example, you need to have a valid business licence to sell items online or in person.
So, before you start a reselling business in the UK, you will need to register as a sole trader. You can complete the registration easily and quickly online, and the best part is — it’s free!
Best Items to Flip in the UK
Now that you know all about reselling, let’s talk about the items you can flip for profit. Although the options are endless, some items tend to sell better than others. Below, you’ll find a list of some of the best things to buy cheap and sell high in the UK!
Books are always in demand, making them a great option to resell. They are also relatively easy to ship, so you won’t have to worry about high shipping costs.
Reselling books is simple yet profitable, as you can often find them for very cheap and sell them for a higher price. Special edition books, rare books, and textbooks tend to sell exceptionally well. You can buy them in bulk or hand-pick them from yard sales and charity shops.
The bridal wear industry is worth billions of pounds. On average, a bride in the UK spends around £1500 on a wedding dress. Therefore, it’s no surprise that reselling wedding dresses can be very profitable.
Wedding dresses are often worn once, making them the perfect reselling item. Consequently, you can often find gently-used wedding dresses for a fraction of the original price. Plus, shipping a wedding dress is usually not too expensive or challenging.
Of course, you’ll profit the most by selling high-quality dresses in good condition. You can find them at charity shops, bridal boutiques, or online classified sites. However, make sure to condition and clean them prior to selling.
When parents can’t find a toy they’ve promised their child, they’ll often turn to the internet to find it. The high demand, especially around holidays, makes selling toys a great way to make money in the UK.
Toys are easy to find and sell, especially if you know where to look. Charity shops, garage sales, and online classified sites are all great places to find cheap toys you can resell for a profit.
To make the most money from selling toys, focus on high demand but challenging-to-find items. For example, certain Lego sets or action figures can sell for hundreds of pounds.
Reselling antiques is very profitable, especially if you can provide proof of authenticity. You can resell anything from furniture to art, as long as it is in good condition.
A great benefit of reselling antiques is that they often grow in value over time. So, if you’re patient enough, you can make a lot of money from reselling antiques. Another great thing is that you can find them anywhere, from garage sales to antique stores.
Branded clothing is pricey, and many people can’t afford to buy it new. However, this doesn’t mean that they don’t want it!
That’s where you come in. You can resell branded clothing for a profit if you find it at a low price. A good thing about selling branded clothing is that you can often find it in good condition. The best places to look for branded clothing are eCommerce sites like eBay and Gumtree. You can also find it at charity shops and thrift stores.
However, keep in mind that many online merchants will try to sell you fake branded clothing. So, do your research and only buy from reputable sellers. It’s also recommended to learn how to recognise branded pieces and avoid fakes.
Flipping home appliances requires effort and patience, but it can result in a significant profit. As a general rule of thumb, buying functional appliances and selling them for a higher price would be best. However, oftentimes, you’ll find faulty or damaged appliances. If you’re ready to go the extra mile for another sale, you can repair them or even sell them as-is.
Video Games and Consoles
Some video gaming addiction stats show around 30% of UK gamers skipped a shower at least once to play games in 2021. With that in mind, it’s highly unlikely you won’t be able to find a video game or console to sell for profit.
When it comes to video games and consoles, there’s always someone willing to buy them, no matter how old they are. However, they must be in good condition if you want to make extra bucks.
If you’re wondering where to begin, it’s advisable to search for discontinued games series that will bring back the old-school feels to the younger generations or consoles that are hard to find on the market.
The best thing about reselling jewellery is that it doesn’t have to be expensive to be valuable. For example, you can find vintage costume jewellery at thrift stores and garage sales. And, if you’re lucky, you might even find some real gold or silver!
Ultimately, scout for unique pieces that can’t be found at the average jewellery store. The more unique the piece, the higher the chances of earning a few hundred extra pounds.
Surprisingly, you can make a lot of money from selling ink cartridges! In fact, some people have even made a full-time income from it.
Ink cartridges are available everywhere, from office supply stores to supermarkets. And, since they’re used so often, there’s always a demand for them.
What’s more, you can also recycle ink cartridges and sell them as refilled cartridges. Selling recycled products is an excellent option if you want to make some extra money on the side.
IKEA is a go-to option for many people looking for affordable furniture. However, this furniture can be a bit mundane and basic.
You can buy IKEA furniture and give it a makeover prior to selling. For example, you can add some paint or new hardware. Or, you can simply sand it down and refinish it.
Another solution is to opt for unique pieces. Vintage mahogany dressers, for instance, can look stunning after a few coats of paint.
There’s a lot of potential when it comes to flipping furniture. So, if you’re creative and have an eye for design, be on the lookout for rare or antique furniture the next time you’re thrifting!
Where to Buy Profitable Items?
Now that we’ve gone over some of the best things to buy and sell for profit in the UK, you might be wondering where to buy those items. You can either scout for profitable items online or in person, so let’s discuss your options.
There are many online marketplaces where you can find furniture and other items to sell for profit. Some of the most popular ones include:
- eBay — eBay is an excellent option if you’re looking for used or vintage items. You will find good deals here, and there’s a versatile selection of items to choose from.
- Amazon — Many resellers can find profitable items on Amazon as well. You can find just about anything on Amazon, so it’s definitely worth checking out.
- Etsy — If you’re looking for handmade or unique items, Etsy is the place for you. You can find all sorts of arts and crafts on Etsy, making it a perfect online marketplace for resellers.
- Police Auctions — Police auctions sell off unclaimed and confiscated items, so it’s advisable to consider them if you’re looking for a good deal. These auctions are usually open to the public, and you can find all sorts of things like furniture, electronics, jewellery, and other valuable items if you decide to participate.
Buying items in person is safer than buying them online since you can inspect them. Plus, you may be able to negotiate the price down. Here’s where you’ll find the best deals:
- Garage sales — Garage sales are unpredictable, and you never know what you’ll find. However, that is the beauty of garage sales. There will be times when you won’t find anything worth considering, only to find another garage sale tomorrow that has exactly what you need.
- Thrift shops — Just like garage sales, shopping at thrift stores is a unique experience — you never know what you’ll find. Thrift shops are ideal for those who want to resell branded clothing, but you might also find furniture and other valuable items there.
- Flea markets — If you’re looking for unusual items, a flea market is the place to go. You can usually haggle with sellers and get a better deal. However, some sellers might try to pass off fake antiques as the real deal, so be sure to do your research before making a purchase.
- Wholesalers — Do you prefer buying items in bulk? If so, you’ll want to check out wholesalers. Wholesalers sell their products in large quantities to retailers, allowing them to get a better deal than if they bought individual items. Typically, wholesalers will purchase goods directly from the manufacturer.
Where to Resell Your Purchased Items?
Once you’ve found the best things to buy and sell for profit in the UK, you’ll need to find a place to resell them. Consider the following options:
- Your own website — Building a website is a must if you want to build a reputable brand and make extra money from ads. What’s more, it’s a great way to connect with your customers.
- eBay — This marketplace is a one-stop-shop for many resellers because it’s easy to use and offers a wide selection of items. Not only can you purchase the goods you intend to sell here, but you can also resell them.
- Amazon — Amazon is one of the best places to sell online because it has a huge customer base across the Globe. Opting for this marketplace, you get a chance to showcase your products to customers from many countries.
- Etsy — For all those resellers who prefer to deal with antiques, arts, and crafts, Etsy is the most suitable and convenient marketplace. Setting up a shop is easy, and you can ship your items worldwide.
- Your local flea market — Reselling items at a flea market is great if you want more control over your inventory and pricing. Plus, it’s always fun to haggle with buyers.
- Facebook — The Facebook Marketplace is an excellent choice if you have a smaller inventory. There are no listing fees, and you can reach out to your friends and family who might be interested in your products.
How to Make Money From Reselling
As you can see, you can resell a variety of products on some of the most popular eCommerce sites. But how do you actually make serious money from reselling? Take a look at these tips to get your business up and running in a blink of an eye:
- Start small — Don’t try to bite off more than you can chew! It’s best to start small and gradually grow your business.
- Set a budget — When buying items for resale, it’s critical to set a budget and stick to it. Otherwise, you might end up spending more than you make.
- Do your research — Before buying and selling for a profit, be sure to do your research. You’ll want to know how much the item is worth and whether or not there’s a market for it.
- Be patient — Don’t expect to make a profit overnight. It takes time and effort to build a successful reselling business.
- Have fun — Remember, the best way to succeed is to enjoy what you’re doing. If you’re not fun, it’s probably not worth your time.
- Prioritise quality — When selling items, it’s essential to focus on quality. After all, you want your customers to be happy with their purchases.
- Calculate additional costs — Don’t forget to factor in shipping, packaging, and any additional costs. If you don’t take extra charges into account, you might end up losing a large portion of your profits.
Is Reselling Worth it?
Believe it or not, some people resell full-time and make a living from it. However, it’s important to remember that reselling is not a get-rich-quick scheme. It takes time, effort, and patience to be successful.
So, is reselling worth it? That’s for you to decide. If you’re passionate about it and willing to put in the work, then the answer is yes. However, if you’re just looking to make a quick buck, you might want to reconsider.
So, what are the best things to buy and sell for profit in the UK?
There isn’t a definitive answer to this question, as the demand for different items varies from place to place. Still, we hope this guide has given you some helpful buy and sell ideas to get started. Remember to take your time, do your research, and have fun with it! Who knows? You might just make a killing.
Yes, reselling previously purchased items is legal in the UK. You’re legally considered an owner of the item you’ve purchased, so you’re free to do whatever you want with it — including selling the item for a higher price.
Books and video games are some of the most flippable items. You can find them relatively cheaply and make good bucks by reselling them. Books and video games are always in demand, so be sure to scout for items appreciated by book lovers and gaming enthusiasts.
Many resellers in the UK have quit their job to resell items for a living. It’s possible to make a fortune from reselling, but it’s important to remember that success doesn’t come overnight. Once you start flipping items, you’ll notice whether you have the potential to earn a living from reselling. So, test the waters before quitting your job to become a full-time reseller.