Is Buying Clearance Items from The Warehouse and Selling It to Cash Converter a Good Way to Flip Items for a Quick Buck?

Feel free to comment your experience with selling items to cash converter.

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The Warehouse
The Warehouse

Comments

  • +4

    Guess it depends on how much money Cash Converters gives you for it vs. what you paid for it and how much time it takes for you to do all of this.

    Is there an item in particular you're looking to sell to CC?

  • +2

    If you can find the right product then I guess it could be.
    However, Cash Converters are not going to pay very much for an item that doesn’t appeal to their customers.
    After all they want to be able to on sell it with some margin added to make a profit for them too.
    You might find some good bargains but you might also be stuck with a bunch of crap that no one wants.
    That’s the chance you take.
    I would ask yourself - is this something that people would buy or is it on clearance for a reason?

    I’ve never used cash converters so can’t comment on the experience but they do offer an online quote service.
    You could try that with a photo of whatever you’re thinking if buying and see what they come back with?
    Here’s the link. Go to ‘Sell Your Stuff’, ‘Learn More’ and ‘What’s it Worth?’

  • +2

    Might as well sell on Trade Me or FB Marketplace (they're called retail arbitrage). CC themselves are flipping products, will not offer you good prices.

  • I agree with akrotohur - you are likely to get a better margin (or any margin at all) if you re-sell it on TradeMe (maybe FB MarketPlace, but the prices on there are nearly always lower than TM in my experience, as there is a lot lower degree of trust).

    You can also put it on here in the Classifieds Section. For a user with a fair period of membership and consistent posting history, there might be more trust that FB MarketPlace at least.

    However, if you think you can onsell to CC and make a buck, then go for it!

  • I think the selling prices at cash convertors are inflated for people paying on hire purchase. Doubt you'll get paid anything close to their selling price.

  • Side question, can you haggle at cash convertors?

    Their website has goods up for auction with most listings showing either not met reserve, a buy now price or available for immediate purchase and minimal or zero bids on many of the listings I’ve looked at.

    I wonder if you can walk in and make an offer irrespective of the sticker price. Turnover of stock must be somewhat key to their business model, especially for tech stuff which has a higher resell depreciation rate.

    • Yes, you can always haggle at any pawn shop.
      My rule of thumb is, if it's 2nd hand, you can haggle.

    • You can haggle at almost all shops. Off the top of my head, the only obvious ones you can never (and never say never!) haggle at are (chain) supermarkets, (chain) takeaways, and quite a few dairies (which actually seems odd, but I don't go into dairies very often, so I could be wrong on that). TWL / KMart won't haggle either for smaller stuff, but they will for larger purchases like appliances.

      I'm sure there are others.

      In general, at most shops, I find that just asking for a discount will get you 10% (maybe more) without doing anything more - most stores seem to give their staff that much authority, and they often give it to you just for asking. If you want a better deal, they will often say they would have to ask their manager / supervisor, so I always say, 'Okay - please can you ask them'. In many cases you'll get 20% to 25% like that without really haggling much. Obviously it will vary, but I always figure there is no harm in asking!

      I am always very polite and it works most of the time, but if not, then I usually walk away, as that does occasionally elicit a 'change of mind' and gets me an offer.

      Personally, I find it kind of fun. Sometimes I've had a competition with my daughter to see who can get the biggest discount / best price - very proud dad that just once in a while she does better than me, but it is becoming more common!

      Alan.

    • If the goods being sold are unredeemed pledges, they must be sold through an auction - https://www.justice.govt.nz/tribunals/licences-certificates/...

      • Interesting, I had no idea, but when you think about it, makes a lot of sense.

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