I recently moved into a new apartment that has a washer and dryer included in the place.
I obviously didn’t need my old washer and dryer and I had nowhere to store them, so it was time for me to sell the set.
I thought about using Craigslist, which is where I bought the set for $85 back in 2008. However, Craigslist can be a pain because you never know how long it’s going to take to find a buyer.
Luckily a friend of mine knows a guy who buys and sells used appliances. I gave this guy a call and asked him to give me a quote on my washer and dryer set. I sent him a few pictures and he responded with an offer:
I might have been able to negotiate and get a little more out of him, but I honestly would have taken $50 for the set. Heck, it even kind of leaks. I called it a deal and we set up a time for him to come pick up my appliances.
That’s a 75% Return on Investment
I bought a washer and dryer set four years ago for $85, and probably did hundreds of loads of laundry in them, and then sold the set for a 75% profit. How? Because I obviously bought them at well under market value.
While this may sound like a one-off situation, I’m sure it happens all the time. When people want to get rid of something in a hurry, they are willing to take very low prices just to get it out of their house.
The guy who sold me this set four years ago had just bought a new washer and dryer and needed to make space. He took a really low price because he wanted them gone IMMEDIATELY. Heck, he was so anxious to get rid of it he even delivered it to my apartment for me!
I Think This Happens Often
I actually did the same thing with my old bedroom set. I paid about $400 for my bed, dresser and nightstand from Ikea four years ago. I tried to sell it for $175 but didn’t get any offers, so I eventually dropped the price to $100 because I wanted it gone THAT DAY.
The guy who bought it also ended up taking a bunch of other furniture that I wanted to get rid of, just because he was willing to haul it away. I didn’t want to bother with selling it or throwing it away, so I just gave it to him.
He probably ended up with over $600 of furniture in pretty good condition for just $100.
You Can Make Your Living on Craigslist
There are people out there who actually make their living from buying low priced items from motivated sellers and re-selling them at market value. J.D. Roth from Get Rich Slowly highlights one of those people here.
If I were a handy man and had a truck, I would probably spend a weekend or two seeing if I could make some extra bucks buying old appliances. Unfortunately I had to get help mounting my TV to the wall and can’t fit much of anything in the trunk of my Camry.
I guess I’ll just have to settle for buying cheap stuff that I want and keeping it.
Readers: Have you ever considered trying to make extra money off Craigslist or eBay?
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