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How to Make It on Craigslist

blog.priceonomics.com

141–150 of 177 posts

Re: How to Make It on Craigslist

#141
post #129

Earlier quoted context omitted.

Note that eBay provides this sort of distinction, in the form of feedback history (someone who's got feedback from 100s or 1000s of transactions is probably making money at it), and people generally prefer to deal with the dealers and middle-men (in part because dealers have more to lose if they rip someone off and get bad feedback). [edited to clarify wording slighty]

Feedback histories show that eBay dealers are active users with the greatest number of transactions, and that those with the longest histories are successful because they continue to conduct themselves well. But it doesn't say much of anything about whether individual buyers or sellers anywhere (but especially Craigslist) would prefer to transact with dealers rather than other pedestrian users when given those choice…

Let me put a personal spin on this to explain it better.

3 years ago I was broke and bought stuff on craig's list, (specifically camera equipment) and sold it on eBay and held some and sold it on craig's list later. I negotiated hard on the phone and only bought stuff far below market value.

I only sold stuff for far above market value and I ended up with an extra $300 a month or so which was a huge difference in my lifestyle.

I noticed something with the sellers I dealt with. Most were wealthy, or made very good incomes and just wanted to get rid of the item. They didn't want to deal with a bunch of buyers, they wanted someone who would give them cash fast in a straight forward transaction. That is the "service" I did for them.

Buyers wanted the item, but wanted someone who would tell them it worked, and back it up, provide good photos and description etc.

--- Fast forward 3 years and I make enough money that when I buy and sell stuff on craig's list I am primarily interested in a fast, easy transaction where I'm saving money over the new price, but not concerned about getting an extra $20 out of it.

I basically changed places and I am happy that middlemen are able to provide me with fast, easy transactions.

--- One tip too. To get the absolute best deals put up WANTED ads on specific items. I bought stuff for ridiculously low prices that way. 60% off the mean. And you don't have to be the first to respond to the ad. A lot of people search for the item they are about to sell before they post it and when they see your WANTED ad, you provide the service they want and they are happy to get less than the item is worth.

Re: How to Make It on Craigslist

#142
post #33

Earlier quoted context omitted.

I doubt very much that sellers would appreciate this liquidity "service" if it were spelled out for them. They would feel cheated, as would the buyers.

Given how many utter flakes I've experienced when selling (or even giving away!) stuff on Craigslist, I think liquidity here actually has tremendous value. And unlike modern stock trading, not all Craigslist listings are created equally. He seems to be doing the dirty work that sellers don't want to bother with. Besides, everyone knows that if you want get paid a reasonable value, you put something on eBay, but that'…

That is why he is able to make more on appliances which can really only be bought and sold on craig's list.

Re: How to Make It on Craigslist

#143
post #131

I built a free webapp that may be useful for such Craigslist arbitrage. It constantly crawls Craigslist for search terms in your price range and emails you the results (instantly or in a daily digest): http://lootlook.com

Went to check it out. Pretty. I didn't see anything but yet another "create a login" screen, no sample of what the email looks like. Closed tab.

Re: How to Make It on Craigslist

#144
post #131

I built a free webapp that may be useful for such Craigslist arbitrage. It constantly crawls Craigslist for search terms in your price range and emails you the results (instantly or in a daily digest): http://lootlook.com

Went to check it out. Pretty. I didn't see anything but yet another "create a login" screen, no sample of what the email looks like. Closed tab.

Appreciate the feedback. No one likes blocking signups, myself included.

Trouble is, the app can't serve the user without having his or her email address on hand. I suppose I could rework the process so the user can give an email address after seeing how the interface works.

For those curious, the emails it sends are simple lists of links, sorted by keyword.

Re: How to Make It on Craigslist

#145
post #98

I always wondered how much one can make by buying AC units on Craigslist in December and selling them off in June, in a place like NYC where weather gets very hot/cold :)

I do that in NYC with bikes (buy winter, from people who made impulse buys in summer and have nowhere to store them, sell summer, to people making impulse buys.)

I think the NYC market has so many constraints and peculiarities (plus money!), its rife with these kind of opportunities.

Re: How to Make It on Craigslist

#146
post #90

I'm surprised it hasn't been mentioned yet, but roseburg, have you considered packaging up this wisdom you shared on this blog post as a class and make some money teaching? I'd think you could get a bunch of students to take at least a one session 2 hour class or something learning this stuff from you. Or even some class online. You could video some of the interactions you have on the phone and in person when doing t…

Yerp, in this economy, I can see loads of folks willing to pay for your expertise in this. Make it an online class, teach folks over the phone.

Re: How to Make It on Craigslist

#148

Earlier quoted context omitted.

what about other cash-only businesses like a barber shop?

Every one I've been to has a POS computer/register where they enter every sale, no matter how it's paid. Enter the employee ID of the person that did the cut, the service, cash tendered, money drawer opens, provide change if applicable, offer receipt. Same as any other legit business.

There's a grey market in "zappers", which are POS devices that keep two sets of books automatically. Lots of small retail businesses rely on this type of tax fraud to stay in business.

Re: How to Make It on Craigslist

#150
Great post good for you for hustling to take care of your family. Lots can be said from various moral points of view however simply put he's taking care of his family and not drawing on struggling Federal and State governments (while actually paying his share).

A couple great points having grown up in the antique business the skill he's developed is the ability to know the local market (buy and sell-side) for a variety of local items.

Roseburg - a suggestion that may help you're right about a clean listing good pictures etc... However one interesting twist I've experimented successfully with is using Copywriting techniques to drive attention to your ads. Mainly I did it for practice but its seems to work well having helped sell the items far more quickly than previous CL sales I've done. I'm happy to share/email a few examples of ads I've written with you if they would help.

Not sure the best way to connect off the comments here (since I've just registered to leave this comment)

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