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How You Can Save Money By Buying & Selling Used Items

Used items don’t always need to be discarded.

 

With the rise of the numerous marketplace startups and platforms across Southeast Asia, it is getting increasingly convenient to buy and dispose of used items that are still in good condition.

How Much Can You Save By Buying Used Items?

Have you ever wondered how much you could potentially save if you bought more used items instead of new ones?

  1. Electronics

If there is a category of products that you would save considerably from if you purchased second-hand ones instead of new ones, that would be electronics.

A new 13 inch Macbook Pro today (2016) starts from RM5,500 and can go for as high as RM7,649 for the highest specced version. On the other hand, you could get a 2011 Macbook Pro for just RM1,500 to RM2,000 on platforms such as Carousell or Mudah.my.

That’s a price difference of RM3,500 or more. Sometimes, you might even get a higher specced version! If you are tech savvy enough to know where to find parts and replacements at places such as Low Yat, you could get used MacBooks with worn-out batteries at dirt cheap prices like RM1,000 and easily swap the batteries for new ones at Low Yat for around RM200.

Throw in a further RM300 for an extra SSD drive or some extra RAM and you have a Macbook Pro that might run as fast as the latest version!

You could also get other electronics such as phones and TV sets on the cheap (usually for less than half the price of a new one) on such platforms.

Of course, as much as you can save money buying a used item, this might not beat the satisfaction of getting your own new electronics,

  1. Household Items

Besides electronic products, you could also get household appliances such as ovens, coffee machines and washing machines on platforms such as Mudah.my and Carousell. You could test out the products before buying them to make sure that you are getting goods that are still in good condition.

For example, you could get a used Dolce Gusto coffee machine for RM150 on Carousell. That’s almost RM150 to RM 200 cheaper that buying a brand new one.

  1. Clothing

One of the most popular item being sold on platforms like Carousell is used clothing. This is especially true for women’s clothing and accessories. People are sometimes guilty of buying too many clothes which they only end up wearing once or twice.

Buying these beautiful used clothes that have only been worn once or twice (almost as good as new) from a platform like Carousell offers you an opportunity to purchase more clothes at an affordable price. You can always sell it on Carousell to the next buyer without losing much money.

The same applies for shoes and other wearables.

How Much Can You Make By Selling Used Items?

Some people might have too many clothes, shoes, accessories or electronics that they hardly use anymore and are still in good condition. Why not try selling them on platforms like Mudah.my or Carousell?

Most of the time, you could recover at least half of your initial purchase price. While that might only be a couple of hundred ringgit per item, this could add up to a couple of thousand to tens of thousands over the years!

If the item is relatively new, you can get an even higher price! It’s all about the demand.

For example, a 2-3 year old 2013 13 inch Macbook Pro can still fetch a respectable price of RM4,000 on Mudah.my or Carousell, just a little less than its retail price of RM 5,500 for new units.

Read Also: The Best Way To Spend Your Bonus

Where Can You Buy And Sell Used Items?

Hence, if you would like to save some money or recover some money from used items that you no longer use, you can consider trying out marketplace platforms such as Carousell, Mudah.my or Lelong.my.

Other platforms also include product specific platforms such as lowyat.net (computers and electronics) and carlist.my (cars).

Read Also: How Do Online Transactions Work

Is It Worth It?

Some might feel that you are rich enough and a couple of hundred ringgit in savings here and there doesn’t mean much to you and isn’t worth the trouble, then you could just continue buying new goods.

On the other hand, if you don’t mind spending a little bit of extra effort browsing through such platforms to see if a cheaper option is available before deciding on whether to buy a new unit so you could save a couple of hundred ringgit, then you should definitely consider trying these platforms out.

Read Also: 5 Ways You Can Start Saving For The Next Raya Holidays

DollarsandSense is a website that aims to help people make better financial decisions, one interesting bite-sized article at a time. Like us on Facebook to stay in touch with our latest article. 

 

DollarsAndSense Malaysia is a website that aims to help people make better financial decisions, one interesting, bite-sized article at a time. Like us on Facebook to stay in touch with our latest articles.