Sunday, May 20, 2012


Picked up some great items at garage sales yesterday for my new flea market business.  One of the items was a nice Mikasa wave glass clock, which turned out to be the first item sold for my new business.  I was showing one of my neighbors some of the items I'd picked up from the sales and he offered me $5 for the clock.  Doesn't sound like much?  O.K. maybe not, but I only paid .50 cents for it, so I made 9 times my original investment (9 x .50 = $4.50) in profit or a 900% return in less than one day! 

While I don't expect my average markup to be anywhere near 900%, the fact that I can make these kind of profits on some items will definitely help raise average markups overall.  So I don't think it's unreasonable at all to expect an average markup of 100% on items purchased for resale. 

What surprised me most at yesterday's sales was how many new in package items I was able to pick up for next to nothing.  At one sale I bought a magnetic dartboard for 50 cents, got 3 men's wrist watches at another sale for 50 cents each along with 2 wooden cutting boards for $1 each.  All of these items were unopened/new in package, so at the very least I expect to mark them up 100 to 900%.  I figure the dart game could go for $2, the cutting boards for $2 each and the watches for $5 each.  So with the sale of these items, my original investment of $4 will turn in to $21.  Since my original goal for this business was to turn every $1 invested into $2 in profit, I'm thinking, even after expenses, this is a very realistic goal.   

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