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The History Of What I Started

I'm going to share my experience with how to buy and then resell your video games so that you will always have new games to play and also money to continue to buy games over and over again.

Rest assured this is no gimmick or anything like that; for once I want to see something that can truly be used for people to save money and in the process let my idea spread around as I have used this technique to never have to pay for video games again, by just learning how to recycle the games I didn't use anymore.

The concept is very simple all you need to do is know how and where to look. Provide good customer service, and it will work for you.

Let me begin with how I got started with this.

Long ago back in the days of 8-bit and 16-bit technology, my son and I had just bought a Super Nintendo, I had paid over 200.00 retail cause I didn't know any better back then. Now we had the system but didn't have any games and back then games were very expensive 50 to 60 per game.

So while driving home from work one day, a thought came to me?

What if I could sell the old 8-bit Nintendo games just to have money to buy new 16-bit games?

Well here is how it started, I was reading my local newspaper and saw in the classified section a place where anyone could place an ad for free, I thought “what the heck”, why not give it a try. It was a simple one-line ad nothing over 100.00 was sold. So I placed the ad like this:

10 used Nintendo games 5.00 each.

So the ad was placed and I thought nothing more of it. We had gone on a trip that weekend, and when I returned home, I totally forgot about the ad I had placed, all of a sudden my wife said look at the answer machine it's blinking a lot.

I said to her, “oh it is”, then I remembered about the ad, when I hit the playback button I had about 30 calls with people wanting to buy the games some even called about 2 or 3 times. I was totally surprised that so many people wanted to buy these games.

When I started returning calls I realized that I was onto something here, I made a total of about 80 dollars from just selling a few games. Some people even paid me a few more dollars for some of the games, because it was still a bargain. It felt good to make some extra cash and buy some new 16-bit games.

Now after a few days had gone by I realized once again that I was onto something here, I thought to myself, I'm taking nothing and turning it into something, I already had the forum to do this, so I said to myself. Let's take what money I have left and see if I can build an inventory of used games and just resell them.

!!! My Idea Was This !!!!

Provide a service for people of quality at a low cost and in turn have games to play for myself and then be able to resell them at a low marketable price, which in turn everybody gets the bargain.

And that's what I did and as of today this still works but there are many different forums to go about this, but I will explain how I did it and it will work for you also.

Some things you need to know in order to get started:
Realize what you have as an inventory, how much it is worth?
Be realistic don't think that because you have games that are popular that you can sell them for any amount, there is a limit to how much it is worth. Popular games have a tendency to drop in the used market very quickly.
Remember, the people you are going to attract are already looking to pay less. Don't think they will pay you more? They are coming to you for a bargain so provide one for them. Give them a bargain and they will buy more.
Know the real value of the games (this is key to generating a cash flow and continue what your doing. (Example of this: if you pay ten dollars for it could you sell it for 15.00)? If you can then buy it.
Advertising for free is what keeps you giving the better bargain; there are forums that I will talk about to do this. some you may have to pay a small fee but look at it as an investment it will pay off.
Don't limit your self to anyone brand of games you can sell all of them Xbox, Play Station and Nintendo.

Video games are for everybody no one is excluded, so you don't need to try to target any particular group of people. They will come to you if you give them a bargain.

How I Built My Inventory

Ok this is how I got started; I looked at it like this way:

I knew I needed to show people a huge selection of games, so they would be impressed and buy more and keep coming back and that's what happened. They kept coming back, it was so much fun to do this.

I started with an inventory of what I first had which was about maybe 20 games. I looked at what I did at first? Placing the free ad, I said to myself “why don't I look at what other people are selling and buy it from them and turn around and resell it.

The games I first sold were way too far below retail, but my only intention was to
buy new games, that's all I wanted to do.

I wanted to keep my selling price way below retail so I looked at it like this:

I would sell games only in the price range between 5.00-25.00. So I knew I had to buy games for at least anywhere between 2.00-10.00 per game.

What I became was a liquidator of video games that others did not want because there are always new gamers out there who will buy what you have if they get a bargain. Also the parents are always looking to save money

Here is the key to it:

I took what no one else wanted anymore; just like me when I placed my first ad and provided it to people who were looking for a bargain. And it turned a profit really quick that's when I knew I had something.

Let me give some examples of what I did:

I first started looking around to get an idea of where I could get games for cheap and then resell them. I found this used video game store which really wasn't cheap they were selling used games at retail prices, but what I realized was that they had games I could buy for cheap and resell them in the used market that I was targeting, which was newspaper classified ads.

I bought 4 games for a total of 20.00, I bought them cause I knew they would sell, and this is where my knowledge of value came in. I took those games placed the ad for free and sold each one for 10.00 I made a total profit of 20.00 in just one day and I still had the enjoyment of playing those games until I sold them. You can guess what I did next, went right back and bought those same games and did it again.

But I realized that I needed a bigger inventory so I sold and sold until I made enough to make a real big purchase. The used video game store was not the answer.

My first big purchase, I found someone that was selling the whole video game system with 25 games. I thought to myself I just want the games not the system but this person wouldn't sell separately. They wanted a 125.00 for everything. Well here is what happened, I bought everything from them because I looked at it like this!! Each game had a value of at least 10.00 and so that was 250.00 with just the games, the game console had a value of about 75.00. So once I did the liquidation on it, I knew I could at least make 325.00. And that's what happened. Now keep in mind I didn't make the money overnight it took some time to sell everything. But when it sold I made a huge profit

As time went on time I went from an inventory of about 25 games to an inventory of about 300 games with a value, which was about maybe 7,500.00 and that, was just the games.
I had an inventory of about 15-20 consoles worth about 75.00 each. Valued around 1,800.00

Plus extra controllers and other accessories valued at couple hundred dollars.

Pretty good for someone who just started with 10 games at 5.00 each?

The best purchase I ever made was from a used video game owner who needed to sell his inventory, we negotiated for about 2 days when we finally settled on a price of 700.00.It was amazing, I had done some calculations of what he had and it was valued at over 5,000.00.he had what I was looking for and it took me only 3 days to make back the money I spent and it made my business.

After that I made my usual purchase from others and had a steady flow of income coming in. but more importantly I never had to buy game at retail and I always had the better deal. And more importantly I always had games to play with.

As the market upgraded over the years and it always will, newer versions of consoles and games i.e. Xbox, PS 2,3, Nintendo Wii, it is still a method that can be used to this day and I will do my best to show you what I had accomplished.

Building An Inventory:

When you start doing this stay local with buying and selling, there are places on the Internet to look, but then keep in mind you will be dealing with shipping and handling charges, which can be costly.

Best places to look for your inventory:

Classified local newspapers is the best place to look, it was how I got started. Your local newspaper will have a small section for general merchandise. Most local newspapers now have a website where you can even look

Craigslist.com this is the best and only place I would look on the Internet. It is the most widely used classified source on the web. You will find some bargains here. Plus you will be dealing locally in your area.

Recycler Classifieds if it is in your area they are another good source to find and build an inventory. they also have a website you can browse.

.Yard Sales - but not all the time, but if your up early one morning give it a try I have only found a few good deals here.

Retail Stores. Best Buy is good to find a bargain on new games which you can sell at used prices I used to buy games there for maybe 7.00 to 10.00,they always have weekly sales and closeouts.

Local Video Game Store. Some mom and pop stores sometimes will have good games for you to resell; this was where I got started before I learned how to just build my own inventory. Stay away from used retail stores like game stop or game crazy, most retail chains you wont find anything of value to resell.

These are my best choices to look and it is where you should start. I recommend staying with used merchandise, if you get some new items make sure you keep them at used prices, so you can give the better bargain (I will talk later on how to buy new and sell for used prices).

Places not to look to build an inventory:

Ebay. Not to knock this giant on the Internet, but you are not going to find any bargains here you will be stuck with bidding and shipping fees which you will only turn over to the consumers. Plus you have to wait 3,5 or 7 days and see if you even win the bid, especially if you have a package deal because there is that last minute bidding (which most people wait for anyway) and it drives up the price, I will give you an example: I was bidding on an Xbox 360 starting at 80.00 I was winning the bid and then in the last minute the bidding jumped to 220.00 there was no way I could have passed this cost onto the consumer.

Online video game websites. This is not the place you want to be looking either, and places like yahoo shopping any other Internet search engines, as they will just sell you something for their own profit margin. And you have to deal with shipping costs. Remember you are trying to provide a valued quality service.

Swap Meets or Flea Markets. I tried this before and what I saw was nothing but overpriced games for sale and came away with nothing. They had nothing but what is considered junk games very old outdated games with little or no value. and the ones that were of value were overpriced.

Video Game Distributors or Wholesalers. Unless you plan on spending an enormous amount of money and I mean you need tens of thousands, I do not recommend going to any distributor (you really don't need them your in the business of used game products) thinking you will find a bargain. Let me show how this one works.

Anyone can go the distributor and buy new games, but in order to get the wholesale prices (which let me tell you is not much different from retail prices you will need a resellers license (which is not hard to obtain), and if your business grows and it will, you will need one eventually for tax purposes.

Now lets say an Xbox 360 costs $299.99 retail, the wholesaler is only going to sell you one piece for 10.00 dollars less. They only worry about their profit margin, which is okay because you need to worry about yours too. This is not a bargain and you will lose money on this, no one is going to pay more for it when they know what it costs. Now if you want to sell your Xbox it would have to be for 310.00 in order to make a profit of 20.00 would you buy it for that price? I'm sure you wouldn't.

They are only going to give you a deal if you buy mass quantities, for instance a wholesaler was going to sell me PS 2's for 95.00 each but in order to get them at that price I had to buy 300 pieces. So take my advice and stay away from this.

Buying Your Used Video Games

You will have to go to the person that is selling, that is why I advise you to stay local, but the good thing is that you will know where that person lives, so its not like they are trying to or going to rip you off. They have invited you to their home. Most people I dealt with were very cordial and you should be the same way, don't go there with that I am going to take advantage of them. By this time you have already done the math on what you can sell and how much you will make in return. No need to negotiate any lower.

Always make sure the price is firm, if you settle on a price of 250.00 then that is it, once a price is settled don't try to get it for even less as it will only make the seller hesitate and you may lose your deal. The exception to this is only if the seller doesn't have what they listed, then settle on another price, most times the sellers will be okay with that. But don't be too greedy if there is game that doesn't work or they listed the wrong item, just knock a little off the settled price, example if you were going to buy for 250.00 and 1 game doesn't work, just take it down to 240.00 don't think that the seller will give you 30 or 40 dollars off, be realistic. Make sure everything is in working order before you buy because once you do you cannot take it back to them. But in all the years I have been in this business I never bought any defective items. Video games are very durable and so are the consoles because people take care of them because of the price they paid for it. They treat their games and consoles like they are made of Gold.

One thing to keep in mind is once in a while you will get the greedy seller or they think they know what they are doing and will try to raise the price once you meet with the seller, never go higher than what you proposed, never fall for the “well I have someone who just called and they are willing to pay me more for it.” If that were true you wouldn't be there. Never buy into that. There will be times you may just have to walk away; I had to do that a few times myself.

A Few things to remember when buying or negotiating a price

Never tell the seller what you are doing, The seller will hesitate and call off the deal, I learned this by trial and error, being a liquidator I thought it would make me seem important and they would be willing to sell to me even cheaper, but in reality all it did was make them feel like they could get more for what they were selling and they were right they could have and some even did. I lost a few deals until I learned that just telling them I was just a regular person looking for a deal. There is an aura about video games and people treat them like gold, ever been to a retail store where the games were not locked up? Or the display had just an empty box?

The seller sometimes will try to sell for way to much but that is ok because I guarantee you that you will be the only one who has contacted them so far and they do want to sell and this is where you put your skills into use. For example the seller has an Xbox 360 with 25 games with high resale value and they are selling the whole package for 500.00.it seems like a lot, but once you do the liquidation on it you can make way more than what you paid, depending on how you do the breakdown value. Here is what I would do. First take the asking price down to at least 425.00. If you're the only one who has been in contact with the seller this wont be too hard. Worst-case scenario is you will pay no more than 465.00. Which is still good. Now you do the breakdown, I will sell a package deal with the 5 games of lowest resale value. For 275.00. I still have 20 games with a resale value of about 25.00 so it looks like this: you sell the package at 275.00 and the 20 games @25.00 for a total of 775 .00 and if you did it right you only paid 465.00 total. When all is said and done you made a total of 775.00 minus what you paid, you made a profit of 310.00. That's some pretty good money and even better is you have good games to play with and you can sell the games whenever you choose to do so.

Always get a list of game titles and the consoles and accessories prior to making a deal with seller. From that point you do the breakdown value, if the games have box and instructions. It will sell faster. If not, still buy if it is a good deal you can always print the game cover from your PC.

Bottom line is this if you buy something for 100.00 always make sure you can make at least ¾ of what you spent the profit margins are very high in used video games. But trust me you will make a lot of money if you do the breakdown properly.

Here is a sample of how to break things down a console can be bought for as low as 100.00 and you should not pay more than 150.00 for it. sell the consoles for at least 175.00 video games should be bought on average of 7.00-12.00 each extra controllers or accessories should be for at least 5.00-15.00.depending on the type.

How to sell your inventory

The very first place you want to sell what you have will be Craigslist.com this where I go on the Internet. It will not cost you anything; it is widely used, and if you advertise correctly, watch how fast you start getting responses.

The next place will be your local newspaper, they usually have a section that is free for people who want to sell, and the only limitation the newspaper I used had it like this: it has to be under a certain value. And it can only be a 1 line ad 20 characters at the most, you are allowed to sell one item valued under a 100.00 your ad will be for only two days depending on the deadline. I always made sure it was on the weekend. After a while I used a paid ad that ran for 15 days for 15.00 it was a good 3-line ad for the money I spent.

Recycler is another huge newspaper classified and your ad is seen by lots of people and it is free.

Ebay like I said before it is not a place to look for bargains but it is a place to sell the only problem here is that you are going to have many people who have their Ebay stores, the “buy it now”. It is very competitive. Plus you will have to make sure you setup a paypal account it's the best way to make sure you get paid. and also you have to deal with shipping.

Word of mouth will bring you a lot of business, just make sure that when you sell to someone tell them to let their friends or family know and have some business cards made up to give out. If you let people know you always have games they will keep coming back.

You can also find certain video games for people I used to do that as an additional service some people are looking for a specific game and if they want it bad enough they will pay extra for it. I also used to add a finders fee and service charge for this depending on how much they wanted to pay. It was a great way to even get more people referred to me.

Trading and Credits and Value

Stay away from trading or getting credits from used video game retailers there is absolutely no value whatsoever in it for you. You can have the most popular game, which retails for about 60.00. They are only going to give you 1/8 of its value so there is nothing more to say on this subject at all.

Also don't trade games with others, as once again there is no value in it for you.

There is absolutely no need for you to take what you have and give it to someone else because they will because the person trading with you just wants something of higher value.

Video games have a high resale value based on what type of game it is. I learned that the more popular titles are what brought me the buyers.

There would be too many titles to list but I will give some of the genres that will sell the fastest:

Fighting Games

Acttion/Adventure

Construction and management simulation

Life simulations
Role-playing
Strategies
Vehicle simulation
Sports Games, they are at the bottom because they have a tendency to lose value the quickest. Resale value drops quickly.

The best thing I used to when I had games that were hard to get rid of was I put them in a package deal. That's the best way to get rid of them. One thing to note is when you start buying large qty's of games you are going to run into this problem, but that's are how you fix it.

Overall Summary

The main thing is to have fun in what your doing, there is nothing better than making a good deal, playing with all the games you want and then selling them and buying more games.

All you need to do is stay consistent with what your doing it will take some time to build your inventory but, while all that is happening you are going to have fun playing with new games all the time, they might not be new but did you have to spend anymore of your hard earned money? No all you need to do is just keep reselling what you have and then buy more of what you need. There is always going to be someone out there who is selling what you are looking for and always someone who is looking for what you are selling.

Copyright ©2009 Godstarz60.

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