A Guide to Buying Liquidated iPhones for Resale
If you are thinking about starting an online business reselling Apple iPhones, you should look to purchase your inventory from online liquidation platforms. These platforms can offer prices that are even lower than wholesale. And they can do this because some of these companies only serve as a platform where manufacturers and retailers can sell liquidated products. Some of them even have exclusive contracts with manufacturers and retailers, which allows them to sell top quality items to their clients. They do not add large markups to the items they sell.
What Are Liquidated Products?
Liquidated products are sold by manufacturers or retailers to free up shelf space for a number of different reasons. The reasons for liquidating merchandise include the release of a newer version of the product, shutdown of business operations, overstocks or customer returns. These items are offered with huge discounts, which makes them a great opportunity for a reseller.
One of the advantages of buying liquidated iPhones is that you get a sought after item at a very low price that is perfect for resale. But in order to make profits from liquidated resales, you should formulate a plan and search for the best liquidator. This means you need to do your research before you start purchasing your stock.
Every time Apple releases a new version of the iPhone, the preceding models will be liquidated and sold at very low prices. To take advantage of this opportunity, you need to formulate a game plan for each season by following company announcements, industry magazines or forums to know when a new model is being planned for release. With this plan in place, you can then purchase stock and resell it to your clients, according to what is being liquidated at cheap prices and what your customers may be interested in.
Planning to Buy Liquidated iPhones for Resale
Here are some of the questions that you need to consider when buying liquidated iPhones. The clearer your game plan is, the better.
- Where will you store the liquidated items you purchased in bulk? Consider the space you have available and also your budget. Remember that hiring storage space can be costly, and so, if you’re just starting out, it might be better to just use whatever space you already have available.
- How do you plan to sell the products? Consider the different channels through which you can sell your products. Do you have a brick-and-mortar store? Do you have a presence in an online marketplace like Amazon?
- How do you plan to pay for your purchases? You need to set your budget carefully and stick to it.
- How will you sell the products you received?
- Where will you sell them?
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Demand and Market for iPhones
The iPhone is a very saleable product. Not only is the iPhone a top-quality smartphone (and smartphones, in general, are very popular nowadays), but it is also considered by many people as a sort of fashion statement. The original iPhone has been considered a game-changer in the smartphone industry and credited for making Apple one of the world’s biggest companies in the world. It attracts users of all ages and has also been adopted for business purposes. The demand for iPhones is very high, so expect to face stiff competition when you’re reselling them.
The most popular iPhone models for 2019 are iPhone XR, iPhone XS, iPhone XS Max, iPhone 8 Plus, iPhone 8, iPhone 7 and iPhone 7 Plus. This is according to data from Macworld UK. The XR accounted for 38% of iPhone sales in the U.S. in the first quarter of 2019 based on data from MacRumors.
Tips for Purchasing Liquidated iPhones
One of the best sources for liquidated iPhones are online liquidation platforms. These platforms usually sell their products through online auctions. But taking part in online auctions without doing your research is a recipe for disaster. It is very important that you only deal with reputable liquidators. You should evaluate the liquidator’s reputation and the quality of its website by checking its list of services, customer testimonials and shipping charges. Find out as much detail as you can about the liquidator, and the best way to do this is by checking how happy or unhappy their previous customers were with their products and services.
Once you find a reputable online liquidation website like Direct Liquidation, you can be confident when you are bidding on wholesale pallets of high-quality iPhones. You will not need to fear receiving defective items when bidding on ‘as new’ or completely refurbished iPhones. If you’re buying damaged items, you can use parts from different units to repair them yourself. Getting top quality products at good prices will improve your competitiveness in the online resale market and boost your chances of earning the highest profit possible.
Direct Liquidation offers a unique mixture of products in its inventory, including different lot sizes and varying product conditions. This means that buyers can usually find the products or product models they are looking for. For this reason, you will save both money and time when looking for products to sell to your customers.
When reselling your products, offering the lowest price will not automatically bring customers flocking to you. In fact, offering very low prices can sometimes backfire. The reason for this is that some customers become suspicious when they see very low prices. They often feel that something is wrong with the product and decide to keep looking. So the best strategy is to keep your price just a little below your competition.
You also need to invest in promoting your website or your product. Social media is the most convenient and one of the cheapest ways of accomplishing this. Once you get the customers, do your best to retain them by providing quality services and products.
It is also very important to select the right venue for selling your merchandise. You can post listings for your items in free listing sites such as Craigslist, AtOncer, eBay and Amazon.
The export market can also provide you with additional sales opportunities and revenue. Some people in developing countries do not have access to iPhones and those that are available to them are old models and are very expensive. You can tap into this market by providing these people with affordable options.
Here are some strategies for managing your sales of liquidated iPhones.
- Identify the best marketplace/channels for reselling your product.
- Empower your customers by allowing them to return defective products through a convenient return process.
- Let your customers fill out documentation forms about returned defective products.
- Create a process for checking and fix/scrapping returned products.
- Understand the pricing of liquidated iPhones.
To recap, you need to understand the market for liquidated iPhones and the models that are in high demand. Create an account with a liquidation company like Direct Liquidation, determine your storage and preferred reselling and start buying.
Direct Liquidation is a goTRG company.
Diego works as a sales representative for Direct Liquidation helping businesses to source liquidation inventory from the world’s top retailers and manufacturers. Diego works with single pallet, LTL and truckload buyers directly to ensure they stay in stock with high quality inventory year round.
Schedule a sales callback with Diego right now and find out how he can help your business profit with liquidation merchandise.