Savvy Sellers and Bargain Hunters

The days of reselling items and purchasing used items has changed tremendously in the past five years. There are more options and benefits.  The National Association of Resale and Thrift Shops report that resale stores in the U.S. are a multi-billion dollar a year industry and online resales are becoming a huge money maker for both the industry and the seller.

Changes in the economy have forced many individuals to reduce spending in order manage their finances.Buying and selling used materials is a strategy for helping with the reduced spending as well as a way of earning money. Buying used items at local resale shops also helps maintain a healthy local economy.

To increase consumer ability and confidence in buying and selling items through yard sales, consignment shops or online sales, the Bourbon County Extension Office hosted Savvy Sellers and Bargain Hunters financial workshop for 9 counties of the Bluegrass Area.  Educational emphasis was placed on:

• Understanding the difference, advantages and disadvantages of yard sales, consignment shops and online sales for selling as well as purchasing
• Identifying how to evaluate items for resale
• Determining the best venue or outlets for selling items
• Learning steps in planning a sale
• Observing an actual online sale process
• Safety issues and precautions to take with all types of resales (buying and selling)

123 consumers participated in the workshops.  Participants were surveyed following the class and 86% indicated that they learned the difference and advantages to various resale options; 46% increased knowledge in how to evaluate items for resale; 81% felt more knowledgeable about online sales; 33% felt less fearful of trying online sales and 83% indicated that they felt more knowledgeable of safety precautions to take with all types of resales.  Nineteen participants indicated that they planned to check out some online yard sales in their local communities.  

“I may never buy or sell an item online but I am so excited to know what it is all about.  I cannot wait to share with my granddaughter what I now know.  She will think I am so hip!”  was a quote from one participant.  She may never use online sales but she now has an increased awareness of how it works and precautions to take.  And she plans to share her information.  That is a success!