I've been looking into doing liquidation re-selling. You just buy stuff in bulk off of liquidation auctions, like http://www.liquidation.com/
And then, you re-sell it by single item on E-bay or something. Seems pretty simple. Is there a catch? Anybody have experience in this?
Nintendo Wii, for example:
Selling on Ebay for ~$210. + shipping with 14 bids.
Selling on Liquidation, 7 Wii consoles for $675. 11 hours left. Let's say it gets up to $800. That's $114. a piece.
Let's say shipping it to buyers costs $10.
And the buyer's premium is 5%, so that's $40. from me.
96x7 = $672.
762 - 40 - 7(10) = $652 profit from moving 7 Wiis.
The page says that the MSRP is "$2k +" I don't know how they got that.
Am I seeing this correctly or what?