Reader’s Digest’s Ways to Make a Bundle #1: Sell for Others

Reader's Digest (eBay) had an article in its May, 2007, issue entitled New Ways to Make a Bundle. I'm a big fan of supplementing one's income in one's “spare time” because a good way to save more, and thus get on more financially sound footing, is to earn more. Earning more on a side business is a good move because it's a diversification of skills. No longer are all money-making eggs in one basket.

The first tip is Sell For Others. Rather than go out and finding wholesale items to sell on eBay, help others sell their stuff and take a cut!

I've begun to do this with Back Mags Plus, my eBay store. A friend from work had a bunch of car magazines he wanted me to help him sell, so I'm listing them for him. This is a good match for the mountain of magazines I have accumulated and want to sell, because the more magazines I have listed in my store, the higher in the search rankings the store gets for magazine back issues. Taking pictures of the magazines is pretty easy — I scan them, covering up any address labels.

Some consignors will charge a flat percentage for selling the item. I do it a little bit differently — I charge a (lower) commission plus all of the associated listing fees, PayPal fees, final value fees, etc. That way I'm not listing a low-priced item and having most of the cut eaten up in fees. Anyway, my friend has left it up to me to make sure it's worth my time to list his magazines and other things, so it's a relatively low-stress way to try it out.