7 Tips for Making the Most Money Reselling Items From Liquidation Pallets

More and more people are shopping online with tens of millions of packages being delivered each and every day. The thing is, not all of those packages remain at their final destination.

Online shoppers also return a lot of items, and many of those items are not restocked and resold.

Instead, returned items, and in some cases, even new items, end up getting packed on liquidation pallets to be resold. If you’re a retailer or a reseller, it’s a great way to get some great inventory for a great deal!

But that doesn’t mean you’re guaranteed to make money. 

You can make the most money reselling items, either online or in-store, by following these tips.

Buy the Right Pallets

Your first step is finding reputable sources for buying liquidation pallets because not all pallets are created equal. For example, some palettes contain more high-quality, and therefore high-priced, merchandise from recognizable brands. Others are packed with discount items that weren’t worth very much, even when they were new.

You also want to be aware if the liquidator is going through pallets and reselling items before they put those pallets up for sale. If they are, they are likely taking the best items and leaving the less profitable ones on the palette.

Know your market and buy pallets carefully so you have the best chance at making money on what you sell.

Save on Shipping

Online shoppers are always looking for ways to save on shipping. You should do the same, especially when it comes to large pallets that can be expensive.

Look for palette sellers that are relatively close to where you live. The less distance they have to travel, the less expensive shipping is likely to be.

You may want to consider buying multiple pallets or even an entire truckload at a time. Your chances of getting a great deal on shipping are better if you’re shipping a lot at the same time.

Know What to Sell and What Not to Sell

Ordering liquidation pallets is like a treasure hunt. And that’s what makes it so fun! But as is the case with all treasure hunts, not everything you find is great. Some items might be scuffed, broken, or slightly damaged.

You may be able to repair or repurpose some items before putting them up for sale, but it does depend on the extent of the damage and how willing you are to try and fix it up, as fixing things can be time-consuming and costly.

Even if you’re willing to fix things up before selling them, there will always be items that aren’t worth selling. You might partner with places to donate your items or dedicate one day a month to recycling items that can be recycled. Just make sure you have a plan for those items so they don’t sit in your warehouse collecting dust while you try to figure out what to do with them.

Know Where to Sell

There are a lot of great places to sell online, but certain items sell best on different platforms. Be willing to sell the right items on the right websites and you’ll make more money.

Some online selling sites to consider include:

■ eBay

■ Etsy

■ Poshmark

■ Amazon

■ Bonanza

If you have a physical store or a booth in an antique mall, consider the best way to set up your shop. If you want to get the most money for each individual item, you’ll want to unpack items and display them properly in your store. If your goal is to move as much merchandise as possible, you might want to consider placing items in bins to draw in deal hunters.

Price Items Right

You have to be very careful about how you price liquidation items. You don’t want to mislead people into thinking what you’re selling is brand new, even if the item is unopened. Your reputation depends on it, and your ability to sell could depend on it too. If you resell on Amazon, for example, and a buyer claims that you sold an inauthentic item, you could lose your Amazon seller account.

If you have low-value items that are hard to sell, consider loss leader pricing. Although it means selling items at a loss, it can be a great way to increase other sales and find new customers. Not to mention, it’s a great way to get rid of aging or unpopular merchandise so you don’t have to deal with it.

Consider Bundling Items Together

Some items aren’t that valuable on their own, but they have more value when paired with other items. For example, you might put a pair of headphones with a tablet or sell two or three pairs of leggings in a pack together.

Bundling items is a great way to move inventory, and it gives you the ability to increase the price and ask for a little bit more than you would if you sold just one of those items alone.

Be Kind and Cordial With Liquidators

One often undervalued aspect of acquiring and reselling liquidation pallets is the relationship you have with your liquidators. 

Vendor relations are important because they can impact the longevity of your agreement. You can get better products and you’re more likely to develop a process that is more cost-efficient. You’re able to establish a meaningful relationship and you’re less likely to be dropped as a client, so you don’t ever have to worry about scrambling to find another supplier.

Not to mention, it simply makes doing business more pleasant! It’s easier to work together and your supplier is more likely to help you whenever you have a problem when you work towards having a positive relationship.

Reselling the items from liquidation pallets can be fun and profitable, but like any money-making venture, it comes with challenges too. 

When you buy the right pallets, have a plan for hard-to-sell items, and know exactly where to sell your items, among the other tips on this list, you can boost your sales and experience even more success.

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