I finally started my re sale business.
I realized that I have a lot of things I dont need, and selling them would earn money.
One such thing was an old guitar I never played.
I did a lot of AI research on how to do sale and re sale online.
I didnt really think I would succeed in selling. But I realized that when it comes to online sales, people look at 3 things: Price, quality, and reputation of seller.
So I realized that any buyer looking to buy a cheap guitar would likely be most attracted to cheapest price among offers. So I looked at other prices, and set my price below those prices, so my offer seems like a better deal compared to those.
there are some important rules in re sale.
First important rule is to set cheap price when selling.
Second important rule is that when buying, you are looking for cheapest price of same product.
Because profit isnt made when selling, but when buying. If you buy for lower price, profit increases when selling later.
Of course, my old guitar wasnt an investment. I just needed to sell it, because I realized I have no use from it, but would have use from money earned by selling it.
I could have set a higher price, but then I probably wouldnt succeed in selling.