Which Wholesale Products Should a Beginner Buy from a Liquidation Auction

You are probably excited about getting your business up and running, and you want to start adding to your inventory as quickly as possible. You want to have those products up through the various channels where you sell so you can start making a profit.

However, you need to slow down a bit and make sure you are choosing the right products to sell. Some types of wholesale products tend to have better resale value than others, and they also have more customers who are looking for those products, which can mean faster sales of the items you buy wholesale.

The following are some of the areas where people have had success in the field of reselling wholesale products. As you will see, they are very varied, which means it should be possible to find a niche that works well for you.

Automotive Parts

People are always looking for the parts they need to make repairs to their vehicle, as well as parts that will help them to customize and upgrade their car, truck, or motorcycle. If you enjoy cars, and you know enough about the products to know what to buy and what will sell, this has the potential to be a very profitable niche. Even if you have some items that do not sell right away, you can hold onto them. You can be sure that eventually, someone will need that obscure part that you have, and they will be willing to pay for it.

Clothing

Clothing can be another great way for beginners to start out buying wholesale products. This can work out well whether you sell online only, or if you also sell through a brick and mortar store, such as a boutique.

Within this niche, you can find several subsets that might interest you as well. For example, you might want to specialize in children’s clothing. Of course, having a well-rounded inventory can provide you with more potential customers, and it tends to be the route that most beginners will want to take.

You can often find pallets of clothing for sale. These could be returns or overstock items that did not sell. They are generally in good condition and they are ready to sell. For anyone interested in clothing and fashion, this can be a good way to start a business.

Jewelry and Accessories

Another great niche to consider is jewelry and other accessories, such as watches. You could focus on only buying jewelry for women, or you could expand and offer men’s jewelry, as well. Many types of jewelry can be found through liquidation auctions.

It is easy to get into this field of selling, as long as you know about jewelry and the other accessories you are selling. You need to make sure that you know the value of the jewelry and how much people are likely to pay for it. Having a passion for jewelry makes it even easier to excel in this area.

Consumer Electronics

Many different types of consumer electronics are available through wholesale liquidation auctions, and it tends to be easy to find out the resale value of these items. Whether you are choosing televisions, computers, video game systems, phones, tablets, or any other type of electronic goods, you can be sure to find plenty of customers who are ready and willing to buy.

Fitness and Outdoor Goods

This niche has a good chance of being profitable for you, as people are always looking for ways to become more fit, so the products tend to sell quickly, especially since you bought wholesale and can sell them for a lower price than other retailers and still make a profit. Outdoor goods, whether it is for sports, boating, hiking, or anything else, are equally popular. They can also be fun to buy and sell.

Tools

Tools are another area where even beginners can do well selling wholesale products bought through liquidation auctions. If you have some quality brands and a diverse selection, you will find that people will buy from you. Of course, you also need to have competitive prices for these types of items. You can search through various sites, such as eBay and Amazon to see what resellers are typically charging for the items. In fact, you can do that with many of the different products on this list.

Items for the Home

You might want to consider buying and selling items that people have for their home. This can be a diverse field or a very small niche depending on what you would like to sell. You might want to specialize in décor and furnishings only. However, some might also want to sell cleaning products, vacuums, supplies for the bathroom and kitchen, and even home security items. 

Consider the type of business you want to run and then choose the products that you believe will work best for you and the customers you hope to find.

Make Sure You Are Ready to Sell

You need to have a website, and you need to be set up on multiple channels so you can increase your chance of selling. Know the right prices to pay before you start bidding at the liquidation auctions, as well. You need to get the products at a price low enough to turn a profit when you sell them. Know what the products’ resale values will be when you are determining your maximum amount to pay for the wholesale lots.

Of course, you might have a niche that you feel would be more appropriate for the type of business you plan to start. If that’s the case, you may be able to find wholesale products through liquidation auctions that will work well for your needs.

However, you will want to check several auctions to make sure they are readily available. Choosing to follow your passion when it comes to this type of business can be beneficial, but sometimes, following the money is a smarter and safer bet. You also want to know just how popular those items are. A way to gauge interest in certain things is through Google Trends.

The following graph shows interest over the past five years for Beats by Dre Studio 2.0 headphones. This gives you an idea of how popular certain items could be and whether they have a good chance of selling.

Share on social networks