4 Misunderstood Trends When Flipping Furniture
Reselling furniture has it’s pros and cons.
Pro: Most furniture resells for several hundred dollars which drives up your bottom line quickly.
Con: It takes up a lot of space.
If you are thinking about flipping furniture, keep reading.
Misunderstood Trend #1: Always consider the purchase price.
You make your money when you buy the item, not when you sell it.
You want to make sure the margin is there before purchasing an item.
Misunderstood Trend #2: Determine if the size, shape, and usefulness of the piece is something buyers are looking for.
First, you want to consider the price. “Can I make a healthy margin on this?”
Second, you want to think through the attractiveness of the piece. “Is this something that others are looking to purchase?”
Case goods sell better than dining sets, console tables, and beds. Buyers are always looking for furniture they can use like dressers, nightstands, chests, etc.
Buyers rarely change out their dining table, their bed, or other decorative pieces like a console.
Misunderstood Trend #3: Painting a piece in a medley of colors can backfire.
I recommend sticking with the basics: white, black, navy, or gray. As you get more comfortable and grow your following of buyers, then consider branching out into other colors. But when you are first starting, I recommend keeping it simple.
Misunderstood Trend #4: The platform on which you resell will largely determine the price.
If you aren’t getting the price you want, then consider changing to a different platform.
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