On my chase for a million dollars, I recently stumbled upon a whole new industry - flipping. Flipping in the financial world has nothing to do with gymnastics, although that may be a great idea for another time. Flipping, in its simplest form is buying low and selling high. I dug a little more and found that these few items are what 'flippers' usually look out for.
Shoes
Shoes and other hypebeast product seem to be an incredible way to make large sums of money flipping. Apparently, watching out for 'drops' as the community calls it and pouncing on them would allow you to flip products for 10x or even 20x the price! These products do well and sell like pancakes because of their brands and their limited quantities. Hence, it is an extremely competitive market to enter and you have to know your craft to stand your ground against the seasoned hypebeasts.
Tech Products
Technology has become quite prevalent in recent years. Hence 'flippers' like to capitalize on this. They source for cheap IPhones, PS4s, IPads, IPods, Apple Watches and resell them on other platforms to make profit. However, such products are considered quite high ticket and hence come with a higher risk. But with this, the potential to make more money is also higher. Tech products are a safe bet, as demand for them is evergreen. Even older models of the IPhone(6,7 or 8) still sell pretty decently.
Concert tickets
This one is pretty self-explanatory. The ticket reselling industry is insanely inflated(alliteration) due to the 'fangirls' and 'fanguys' willing to give their kidneys and first born child to see their favorite artists in real life. Because of this, people spend hours waiting for ticket releases and snatch them all up, knowing that they are sure to sell(of course the artists or performers have to have a certain level of fame).
 |
| I know that's not how real tickets look like, but I needed an image |
These hoggers then go to platforms like Ebay, Facebook Marketplace, craigslist and Carousell(if you're from Singapore) to auction off these tickets for sky high prices and make crazy amounts of profits.
That's all folks! I know this was a slightly shorter article. I don't have as much knowledge on the subject and I'm only beginning to scratch the surface. I will venture more and share more if I find anything interesting!
0 comments:
Post a Comment