A YouTuber has explained how eBay sellers are making hundreds of pounds in profit by selling Poundland products online.
In one example, Zain Shah revealed how one eBayer had made £513 in the space of just seven days by re-selling Poundland hanging baskets.
The hanging baskets sell for £1 each in stores, but the seller has been flogging them online in packs of two for £13.10 - selling 86 units in total.
Zain says selling in quantities of two is a good idea as the postage costs are similar but you can charge a higher price.
He then used a free eBay/Paypal online calculator to work out what the seller would’ve made in profit after shipping cost and eBay fees.
With every two units sold, the seller makes a profit of £5.97.
Zain, who regularly posts videos on how to make money on his YouTube channel, says: “That person has sold 86 of them within one week, he managed to make £513.42 profit, which is a very, very decent profit.”
This process is known as product “flipping”, which is where you buy a relatively cheap product with the view of selling it on at an inflated price online.
Of course, there is never any guarantee that your item will definitely sell - you could keep your receipts so that you can return it to the shop if it doesn't go online.
You also need to take into account eBay selling fees.
Do you make money from selling on eBay? Let us know: mirror.money.saving@mirror.co.uk
eBay charges a final value fee of 12.8%, including postage, plus 30p per order - this is deducted automatically from your sales.
You don't pay any fees to sell on Facebook Marketplace and it is free to list items on Gumtree.
If you're flogging unwanted stuff every so often - for example, if you're having a clear-out - then there is generally no tax to pay on the money you make.
But if you become a trader - so someone who is making or buying goods with the intention of selling them on a regular basis - then any money you make does become taxable.
There is a tax-free trading allowance of £1,000 that can be applied to these types of earnings each year.
If the item is branded then that brand name should be included in your eBay listing so the buyers knows exactly what they're spending their money on.
We recently reported on how could make more than £1,000 on eBay by selling their kids’ forgotten toys and their own neglected hobby equipment.
Bikes, Hot Wheels and Playmobil toys are some of the toys most likely to sell online, according to experts at eBay.
Old bicycles typically sell for £68, with Hot Wheels and Playmobil items coming in at roughly £35 a pop.
