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?
Carnival of Financial Camaraderie at My University of Money
Carnival of Financial Planning at The Skilled Investor
Totally Money Blog Carnival at Don’t Quit Your Day Job…
Festival of Frugality Funny About Money
Fin. Carn. for Young Adults at 20s Finances
Carnival of MoneyPros at Miss Wallstreet
Yakezie Carnival at Financial Success for Young Adults
Join the Thousandaire newsletter
Subscribe to get our latest content by email.