Attention fellow Penny Hoarders: BananaRepublic.com is having a sale. I smell resell potential.... :)
Many of you know that one of my favorite ways to make cash is to shop the sales and then resell the items on Ebay or Craigslist at a profit. I sniffed out just such a deal today on BananaRepublic.com.
BananaRepublic.com has a SALE section that allows you to browse for clothing items that they have put on sale. I stumbled upon a 20% coupon for Banana Republic (use promotion code: BRSALE20) that starts to make their sale items worth purchasing for resale on Ebay. You have to be careful when purchasing new items to resale because not everything is going to fetch you top dollar.
Remember: Ebay buyers are expecting to get a deal that is below retail value. It's important to use Ebay's completed item search to check out what that particular product has been selling for the past few days.
Once you find a product that is selling on Ebay near or above the price as they are selling on Banana Republic, you might have a product worthy of resale. Here is one such deal I did this week:
Banana Republic has Women's white flared jeans on sale for $19.97. Two of those pair of jeans have sold on Ebay in the past week for an average selling price of $32. Bingo!
Here's how the math will breakdown if I were to purchase 3 pairs of jeans:
Cost of 3 Pairs of Jeans: $59.91
+ Cost of Tax: $3.36
+ Cost of Shipping: $0.00 (Free Shipping Coupon Below)
- 20% off Coupon: $12.00
Total Cost of Acquirement: $51.27
Shipping fees: Charged to Buyer
Totat Cost of Selling: $15.97
Expected Selling Price: $96 ($32 each)
-Cost of Acquirement
-Cost of Selling
=Total Profit (3 items): $28.76
It took me about 5 minutes to buy the items and it will take me about 5 minutes to create an Ebay ad for each item all for a profit of about $28.76. Also, to get Free Shipping you must sign up for Banana Republic's email updates - the link is on their home page. They will immediately send you a unique promotional code to your email address for free shipping on any size order. But, don't forget to layer to make even better....
Layer #1 - Online Rebates
Always get your online rebate when shopping online. In this case Ebates.com is offering 10% cashback on Banana Republic purchases. Plus they are giving $5 just for signing up. Too easy...
Profit Added: $10.17
Layer #2 - Credit Card Rewards:
Always use your reward credit card when buying items to resell. It's make the deal that much better. I like to use my Discover card because I earn 1% back on every purchase and I earn 5% at select stores. Just make sure you pay off the card each month. In this case I'll use it to pay for the clothes at Banana Republic, pay for the shipping, and to pay for my Ebay fees.
Total Profit: $39.65
Estimated Total Time: 30 minutes
Remember that Banana Republic's partner, Gap.com, is having the same sale so sniff out some resale items over there as well.
Good luck Penny Hoarders!