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I wonder how he knew there would be a market for this that would buy it for so much over retail.
by partiallypro 8y ago
I wonder how he knew there would be a market for this that would buy it for so much over retail.
- viggity 8y agothere are lots of FBA apps that will let you scan a bar code and tell you how much it is selling for on Amazon, and will factor in Amazon's commission, shipping costs, etc and will tell you the absolute max you can pay for an item and still make X% money off of it.
- GuB-42 8y agoTwo possibilities: Maybe he didn't and it is just luck, classic survivor bias. Maybe what you see is just the highlight of what is essentially a full time job. I have a friend who exploited arbitrage opportunities, and made a few thousands like this. While it is easy to see the surface, there is a lot going on behind the scenes. He sometimes spent the entire day packaging stuff, most of his travels included visits to potentially interesting shops, he has to deal with shipping problems and dishonest customers, and he had a very good knowledge of the market. And while big wins sometimes happened, most of the money were made through a large number of smaller gains. He enjoyed it when he did that, a bit less now, and he makes more through his day job (nurse), so he stopped doing it.
- megablast 8y agoThere are forums where people talk about this stuff. Or maybe he gets the sales data (or brochures), and looks up the big discount items on amazon. Eventually you get a feel for what is a good deal. I have done this in the past with 3g/4g modems, you know how much they sell for, you know when a sale will get you a good deal.