In the contemporary era, video games have emerged as one of the most sought-after and beloved forms of entertainment. With new games offering exciting experiences and older ones holding significant nostalgic value, the gaming industry continues to thrive. In fact, over 67% of adults in America are active gamers, making buying and selling video games a lucrative opportunity to earn some extra income.
If you’re considering entering the video game resale market but lack the know-how, fret not! This comprehensive guide is here to equip you with all the essential knowledge to navigate the world of buying and selling video games. Whether you’re a seasoned gamer or a newcomer to the gaming community, understanding how to resell video games effectively can be the key to success in this dynamic industry.
So, let’s delve into the ins and outs of the video game flipping business, from finding the best deals and identifying valuable collectibles to optimizing your sales strategy. By the end of this guide, you’ll be well-prepared to embark on your journey into the realm of buying and selling video games, turning your passion for gaming into a rewarding and profitable venture.
Is Video Game Reselling a Profitable Venture?
While reselling video games may appear as a risky venture at first glance, it has proven to be a lucrative opportunity for some, with a few individuals even amassing fortunes through this business.
In the past, the market witnessed a downward trend before 2020, causing concerns among potential sellers. However, the video game resale market made a remarkable rebound, defying expectations and demonstrating its resilience. Two notable success stories of sellers who thrived in this revived market serve as clear indicators that it is back on track and here to stay.
Real-Life Example 1
Meet Max Hayden, a remarkable 16-year-old entrepreneur hailing from New Jersey, who achieved extraordinary success by reselling video games and sought-after items at an impressive scale. His savvy approach involved procuring items like the coveted PS5 early and at discounted prices, enabling him to capitalize on their high demand and scarcity, resulting in substantial profits amounting to over $1.7 million.
While Max’s strategy may draw comparisons to scalping or drop shipping, it’s crucial to recognize that this venture is not for the faint of heart. Reselling in this manner entails a significant level of risk, but the rewards can be equally high for those who navigate the market adeptly. Max’s inspiring journey serves as a real-life example of how seizing opportunities and understanding market dynamics can pave the way to remarkable success in the video game resale industry.
Real-Life Example 2
Enter Beau Crabill, yet another enterprising young entrepreneur who has found success in the video game reselling realm. When he embarked on his business journey, Beau dedicated considerable effort to building strong connections with companies and suppliers. This strategic move proved to be a game-changer as it enabled him to procure used video games at cost, paving the way for substantial profits upon resale.
Even during the challenging market conditions of 2019, Beau’s reselling prowess shone through, allowing him to rake in hundreds of thousands of dollars in a single year. His story showcases that despite fluctuations in the market, there remains a consistent demand for video games. The key lies in sellers being well-prepared with the necessary supply to meet this demand.
Beau’s journey exemplifies the power of networking, resilience, and adaptability in the video game reselling business, inspiring aspiring entrepreneurs to explore the lucrative opportunities within this dynamic industry.
A Glance into the Current State of the Video Game Reselling Industry
Amidst the uncertainty surrounding video game reselling in mid-2019, numerous forecasts predicted its imminent demise. The preowned game sales had experienced a sharp decline over the previous three to four years, prompting speculation on the reasons behind this trend.
Various factors were cited for this decline; some attributed it to the growing popularity of digital products, while others pointed to an increase in trade-ins rather than direct sales, benefiting the companies more than individual sellers.
However, the gaming landscape took a surprising turn with the release of the Xbox Series X and PlayStation 5 in 2020. Enthusiastic gamers rushed to acquire new titles and sought after older Xbox games to relive nostalgic experiences.
Remarkably, well into 2021, the video game reselling industry continues to thrive. Despite not reaching the peak demand experienced in 2020, the industry’s resilience remains evident, with a promising forecast for sustained growth over the next three to four years.
The allure of specific games remains strong, as gaming enthusiasts remain eager to acquire coveted titles. As people continue to seek ways to spend their leisure time doing what they love, the video game reselling industry maintains its relevance, displaying a future that shows no signs of slowing down.
Which Video Games Are Ideal for Flipping?
In the ever-evolving world of video games, certain titles shine as lucrative choices for reselling online. These wildly successful games often fly off the shelves as quickly as they hit the market, making video games one of the top items to resell.
For example, Animal Crossing: New Horizons, a Nintendo game released in 2020, has experienced a resurgence in popularity due to recent announcements by Nintendo Direct. With a plethora of exciting new items and interactions added to the game’s digital downloads, interest in this title has soared.
As a savvy reseller, staying up-to-date with the latest releases and trends is essential. Most of the prime candidates for flipping are newer games, so being vigilant about tracking reputable sites to purchase games is crucial.
By timing your purchases right and honing your eye for promising deals, you can acquire these sought-after titles at affordable prices and subsequently resell them at a substantial profit.
Of course, accuracy in pricing used items is paramount to ensure quick sales and a flourishing venture in the video game reselling space. With the right strategy and a finger on the pulse of gaming trends, you can unlock a world of profitable opportunities in the dynamic world of video game flipping.
Where to Source Video Games for Flipping?
When it comes to flipping video games, the source of your purchase plays a pivotal role in determining your profitability. Securing games at a favorable price point is the foundation for guaranteeing healthy profits in your venture.
On the flip side, overpaying for items can quickly turn into a challenging uphill battle to recoup your investment.
To optimize your reselling potential, consider exploring these top places to acquire video games:
- Facebook Marketplace
- Game Trades
- Thrift Stores
- Garage Sales
Conduct thorough research before finalizing any transaction, and be sure to scrutinize listings carefully. Avoid the risk of inadvertently buying damaged or scratched discs or cartridges, as this could impact your ability to resell the games effectively.
By being mindful of your sources and making informed purchases, you can position yourself for success in the video game flipping realm, maximizing your chances of generating profitable returns.
Top Video Game Reselling Platforms: Where to Maximize Your Profits
Acquiring video games at the most affordable price possible and selling them at higher prices is a fundamental strategy for maximizing profits in reselling. Consequently, selling back to stores like GameStop or BestBuy should be avoided, as their primary aim is to buy from sellers at rock-bottom prices.
For greater flexibility in your listings and better control over your selling prices, consider these three top options:
eBay: A Popular Option with Considerations
eBay undoubtedly stands as one of the most apparent choices for reselling video games; however, it comes with its share of drawbacks. When you list items for sale on this platform, you’ll find yourself competing against thousands of other listings that closely resemble yours, originating from various parts of the world.
While eBay grants you the freedom to choose your shipping methods and customize your listings as you desire, it’s essential to acknowledge that the platform hosts seasoned sellers with decades of experience. As a result, breaking into the market can be challenging if you lack the right knowledge and strategies to get started effectively on eBay.
Amazon: Expanding Your Reach in Video Game Reselling
Amazon stands out as an excellent choice for sellers seeking maximum exposure for their video game listings. With its vast customer base, this platform offers a great opportunity to reach a wide audience.
Fortunately, Amazon’s referral fees for electronics and video games are comparatively smaller than eBay’s final value fees, making it a cost-effective option, especially for those involved in substantial video game sales.
Moreover, similar to eBay, Amazon provides ample opportunities for sellers to accumulate reviews, which can significantly boost your credibility and attract more potential buyers.
By leveraging the power of Amazon, you can extend your reach in the video game reselling market, capitalizing on the platform’s benefits and expanding your business prospects.
OfferUp: The Hidden Gem for Second-Hand Game Sales
OfferUp might not be the first platform that comes to mind, but it holds immense potential as a fantastic marketplace for selling your second-hand video games.
One of its key advantages is the absence of listing fees, allowing you to list your items without incurring additional costs. Moreover, you have the flexibility to sell your games locally or nationally, broadening your reach to potential buyers across different regions.
Unlike other platforms, OfferUp often presents a fair pricing environment, preventing the need for constant price competition and avoiding a race to the bottom.
However, it’s essential to be aware of a drawback: many buyers on OfferUp tend to adopt a haggling approach from the outset. While gaining traction on your listings can be advantageous, dealing with constant haggling during the purchase process can be time-consuming and draining.
Despite this challenge, OfferUp’s unique benefits make it a valuable choice for reselling your video games, providing an opportunity to tap into a broader market while avoiding unnecessary listing fees.
Standing Out with Your Video Game Listings
In the sea of daily video game listings on platforms like Mercari, eBay, or Amazon, it can be challenging to gain visibility and set yourself apart from the competition. However, with strategic steps, you can make your listing more enticing to potential buyers.
Here are some essential tips to ensure your video game listings stand out:
- Use Real Photos: Include actual images of the product rather than relying on stock photos. Authentic photos build trust and credibility, assuring buyers that they are dealing with a genuine seller.
- Provide Clear Information: Be thorough in describing the product, outlining its features, condition, and any relevant details. Transparency is key to winning over potential customers.
- Be Honest About Functionality: If the video game has minor scratches but functions well, honestly disclose this information in your listing. Honesty builds trust and ensures smoother transactions.
- Add Links to Your Main Store: On platforms like eBay, you can include links to your main store, offering buyers the option to explore more of your offerings. This creates opportunities for repeat business.
- Set Shipping and Handling Expectations: Clearly state shipping and handling timelines to manage buyer expectations. Providing this information helps buyers make informed decisions and reduces uncertainties.
- Offer Contact Information: If possible, provide contact information for buyers to reach out with questions or inquiries. Open communication fosters trust and encourages potential buyers to engage with your listing.
By implementing these best practices, your video game listings can stand out amidst the competition, attracting more attention and increasing your chances of making successful sales.
Flipping Video Games: Common Mistakes to Steer Clear Of
While flipping video games can be a fun endeavor, it’s essential not to underestimate the importance of selling them professionally. Several common mistakes, particularly for beginners, revolve around the way you present your listings.
Two critical areas to focus on are your listing wording and images.
- Nail the Listing Title: Avoid flowery language or sharing personal anecdotes. Instead, keep the title clear and straightforward, indicating precisely what the product is. Consider including relevant ratings or reviews from reputable sources to enhance buyer confidence. Stick to the product description provided by the company and provide accurate details about the game’s condition. Steer clear of dishonesty or expressing personal biases in the listing.
- Take Excellent Photos to Drive Sales: High-quality images are essential to give potential buyers a clear understanding of the product’s condition. Showcase the game’s details and consider including a photo of it alongside the compatible console if applicable. This can help minimize returns from buyers purchasing the wrong game for their gaming system, especially when buying as a gift for someone else.
By avoiding these common mistakes and presenting your video game listings professionally, you can enhance your success in the competitive world of flipping video games.
How to Ship Video Games?
When it comes to shipping video games, it may seem straightforward with the convenience of online selling platforms providing shipping labels. However, there are crucial aspects to consider beyond just the labels.
Packaging is paramount when shipping video games. While a simple bubble mailer suffices, it’s essential to add tissue or paper padding around the video game’s box to ensure secure protection during transit. For used games containing only discs, consider purchasing empty cases to provide added safety during shipping.
In the USA, four major shipping companies dominate the market for video game shipments:
- USPS: The preferred choice for 54% of online stores due to its affordability, easy tracking, and government-backed credibility.
- UPS: Ideal for shipping small items like video games, although prices may be steep. Expanding to include consoles can often yield better pricing options.
- FedEx: Suitable for shipping medium-sized items, it can be cost-effective in certain situations but should not be the only shipping option offered.
- DHL: An excellent choice for international shipments, offering precise tracking regardless of location as it operates independently from government entities like USPS.
Providing multiple shipping options pleases customers, allowing them to choose the most suitable method based on their preferences and needs. Ensuring tracking availability is essential for both your safety and customer satisfaction.
By following these guidelines and offering diverse shipping choices, you can optimize the shipping process, enhance customer experience, and establish a trustworthy reputation in the video game-selling market.
FAQs – Buying and Selling Video Games
Q: What is video game flipping?
A: Video game flipping refers to the practice of buying video games at a lower price and reselling them at a higher price to make a profit.
Q: Where can I buy video games to flip?
A: You can buy video games to flip from various sources such as online marketplaces like eBay, Amazon, OfferUp, and Facebook Marketplace, as well as local thrift stores, garage sales, and game trades.
Q: How do I price my video game listings for maximum profit?
A: To price your video game listings, research similar listings and current market trends. Consider the game’s condition, rarity, and demand to set a competitive and profitable price.
Q: What are some mistakes to avoid when flipping video games?
A: Common mistakes to avoid when flipping video games include overpaying for inventory, neglecting accurate item descriptions, using stock images instead of real photos, and not considering the condition of the game.
Q: Should I sell my video games back to stores like GameStop or BestBuy?
A: It’s generally best to avoid selling back to stores like GameStop or BestBuy as they tend to offer lower prices. Selling directly to consumers through online marketplaces often yields better profits.
Q: How can I make my video game listings stand out?
A: To make your video game listings stand out, use clear and informative titles, include actual product photos, provide honest and detailed descriptions, and offer competitive shipping and handling timelines.
Q: Which shipping companies are best for shipping video games?
A: The top shipping companies for video games in the USA are USPS, UPS, FedEx, and DHL. Each has its strengths and is suitable for various types of shipments.
Q: How can I protect video games during shipping?
A: To protect video games during shipping, use appropriate packaging, such as bubble mailers with additional padding. For discs without cases, ensure you have enough empty cases to prevent damage.
Q: Should I offer multiple shipping options to customers?
A: Yes, offering multiple shipping options is recommended. This allows customers to choose the most suitable method and helps cater to their preferences and needs.
Q: How important is tracking in shipping video games?
A: Tracking is crucial in shipping video games as it ensures the package’s safety during transit and provides peace of mind to both the seller and the customer.
In conclusion, venturing into the world of video game flipping can be an exciting and potentially rewarding endeavor. By avoiding common mistakes, such as overpricing, neglecting item descriptions, and using stock images, sellers can elevate their listings’ appeal and attract more buyers. Leveraging the power of online marketplaces like eBay, Amazon, and OfferUp can provide broader reach and increase sales opportunities. Additionally, offering multiple shipping options and prioritizing accurate packaging ensure customer satisfaction and trust. Remember, success in video game flipping lies in striking a balance between competitive pricing, authentic presentation, and excellent customer service. With determination, adaptability, and a keen eye for market trends, sellers can position themselves for a thriving and profitable journey in the dynamic world of video game reselling. Happy flipping!