There’s a new show on A&E that’s the new talk of the reality TV town. Extreme Unboxing follows real people as they purchase, unbox, and resell liquidation and overstock inventory. It’s a fun and unique way to make a living, and this show follows these resellers’ adventures.
If you’ve watched the show and thought, “I could do that,” you’ve come to the right place. B-Stock is a liquidation auction site you’ve probably heard mentioned by these resellers in the show. We’ve been in the industry for a while now, so we have the connections and expertise to offer top-notch liquidations and overstock auctions (from nine of the top 10 U.S. retailers) for any budget. If you’re wondering where to buy overstock pallets (and ultimately, unbox) from big-name brands such as Walmart, Target, Amazon, and Best Buy, B-Stock is your direct source.
So, you want to be a reseller. That’s awesome! The first thing to know is that reselling liquidations or overstock is a business and it should be treated as such. Don’t just jump in on a whim. You want to be sure to plan appropriately and select your auction source carefully. This can be hard work, but it can also be incredibly rewarding.
Before you start, take some time to understand the reselling concept. Our FAQs for First-Time Resellers might be a helpful first read. Also, check out How to Start a Business Using Retail Arbitrage for more information about this business model.
Once you have a basic understanding of the industry and are ready to get started, you’ll need to register your business. Since B-Stock is a business-to-business auction platform, not just anyone can buy and unbox inventory. Plus, you’re going to need a resale certificate to begin, so be sure all of your paperwork is in order. Next, you’ll want to register as a B-Stock buyer.
When you get a notification that your registration has been processed and accepted, the real fun begins. Find a marketplace that you love or browse all live B-Stock auctions. Before you bid, make sure to do your homework and understand what you’re getting. Read the auction details carefully and study the auction’s manifest to know what’s included in the lot.
After selecting an auction, it’s time to get bidding. There are plenty of auction strategies you might employ, so be sure to choose one that works for you. Remember, there will likely be others bidding too, so be sure to set a budget and stick to it. One helpful bidding tool on B-Stock is called proxy bidding. This allows you to enter the highest price you’re willing to pay and the system will incrementally bid on your behalf. Otherwise, you could get carried away in the excitement of the moment and pay more than you intended for your auction lot.
Winning an auction is a huge rush, but now the process of reselling is just beginning. Next, you’re going to need to arrange for shipping. Some auctions include shipping from the seller, so for these, you won’t have to take a separate step. Others will require that you arrange for shipping yourself, or partner directly with one of B-Stock’s trusted shipping partners.
The auction is over, you’ve arranged to have it sent to your storage facility, warehouse, or home, and it’s arriving soon. Now comes the fun of extreme unboxing. Be sure to carefully check what you received against the manifest provided, and make note of any major discrepancies. Beyond that, have fun with it. You likely just received a lot of great products for a tiny fraction of their retail value, so a bit of celebration is in order!
After the unboxing fun, you’ll need to get to work listing items for sale and shipping them (if you’re an online reseller) to buyers, but for now, enjoy getting to know your products. Inspect each one closely and learn all of the details about every item you’ve purchased. Research current market value and decide how much you will price the items. While it’s useful information when you list your items for sale, it’s also a lot of fun to calculate potential profits!
If reselling liquidated products sounds like your idea of a great job, why not get started with B-Stock today?