I’m thinking I might try to cash in this fall. I bought a Playstation 2 for profit after Christmas (made about $200) and I am thinking of trying it again.
Nintendo just released that the GC is going to be a bit late (Nov 18th) and I believe only have 700,000 units at launch… which if memory serves is pretty similar to what Sony did with the PS2.
So, I’m thinking of buying a bunch (for some reason, where I live you can almost always buy consoles launch day out of store inventory…even so I may pre-order just to be safe) and doing the EBay thing. I’m also thinking of doing the same thing with XBox but people are a little unsure as to what the supply/demand of it will be.
People scalp things all the time; no reason you shouldn’t cash in as well.
However, I say to aim higher. Sure, you can make some fast easy cash this way, but why think so small? Instead of game consoles, why not toilet paper? Just buy all the toilet paper in town and then sell it out of a van at a tidy profit. This is something you can do ALL the time. And unlike Milk, which some people would recommend as another good product to scalp, TP isn’t time-sensitive.
It requires a lot more planning and initial income and effort, but that’s what it takes to make the big bucks.
But theres just sooo much toilet paper in town… and I don’t want the poor people in my fair city to go without asswipe. And in a pinch you can use paper towel or even a newspaper. Besides, as I mentioned there is usually an abundence of consoles on store shelves here so its not like I will be causing people who live here to be hard done by. Just making some $$$ of the people who just can’t wait. Must have now!!.
What’s the return policy where you buy? If you don’t open the box, and don’t get any sellers on eBay (start your initial bid high - at an immediate profit), just return it.
Thats the way I look at it too. Buy them at a place like Wal-Mart or Zellers (A Canadian Target) and as long as you don’t open it/them, you can return them.
Hey, it’s not a bad idea if you can stomach the $1000+ credit bill that month. The only caution I’d toss out is that with the downturn of the economy this Christmas parents are going to see their discretionary income drop off quite a bit, and that might leave people reconsidering the additional couple hundo in opportunity costs off eBay.
I’m not to concerned about the credit card bill. hopefully (knock on wood) I would get paid for reselling them before I get the credit card statement. Even if not, my interest charge is pretty low so its not a huge concern for one month.
Never really thought of the economic downturn. I have a hunch though that there will still be a lot more demand than supply if they only ship 700K units.