With markups on retail items ranging from 50-500% and sometimes more, quality gently used or resale items are becoming more and more appealing. According to
BusinessInsider.com, “[t]he reasons for steep markup prices depend on the product. It could be that the item is in high demand, is difficult to make, or holds a great amount of symbolic value.” In many cases, purchasing an item used can give you like new quality at a fraction of the retail price.
If you’d like to keep the extra 50-500% or more you pay in markups, never buy these items new:
• Cars/Vehicles
In most cases, cars are marked up between 8-10% and their value decreases as soon as they leave the dealership. Experts at Reader’s Digest suggest finding a model that’s a year old and doesn’t have many miles for a like-new ride that costs way less.
• Apparel
Season’s change, shapes change, styles change and more than likely, these changes can occur quickly. Clothing is another category of retail with a significant markup. Most of us buy clothing frequently. From basic items like shirts and slacks to more expensive items like cashmere sweaters and designer denim, we may pay from 100-350% in retail markups. Resale industry experts say “[t]hrifting your clothes can save you up to 90 percent on everything from jeans to tuxedos.”
• Large Appliances and Furniture
If you are in the market for an armoire, oven, dishwasher, shelving or other large appliances or furniture items, consider purchasing them gently used or refurbished to save 200-400%. Be sure to research the appliance brand or furniture maker, ask questions about condition and usage, as well as test the item to make sure it’s in working condition before you make the purchase.
Other Items to Consider Buying Resale or “New to You”
• Collectibles
• Tech Gadgets
• Jewelry
• Sports Equipment
• Rare, Unique or Vintage Items
• Wedding Dresses
SOURCES
https://www.wisebread.com/cheat-sheet-retail-markup-on-common-items
https://www.rd.com/advice/saving-money/buy-used/
https://www.csmonitor.com/Business/Saving-Money/2015/0805/10-things-you-should-always-buy-and-sell-on-eBay
https://www.businessinsider.com/things-high-markup-prices-2016-8