Warm and humid. No rain in the forecast but maybe some more overcast. Yesterday was mostly overcast, but we didn’t get any rain in the places I visited. I’ve got stuff in the back of my truck that I don’t really want to get wet before I can get it put away…
Did get pickups done. Last pickup for the one auctioneer, who is calling it quits. We may be at the same stage of returns and overstock reselling as house flipping was just before that collapsed. New players with no experience are paying too much to buy in, thinking it’s easy money, while more experienced players are finding it hard to stay in the game, or no longer profitable. A crash and consolidation seem to be headed this way for this nascent but quite large market activity.
It is actually a new version of an old business. There have been resellers, wholesalers, surplus outlets, auctions, and fire sales for a long time. Probably since the first failed product in the market. But the old business model of insiders and somewhat disguised markets (Ross Dress for Less did pretty well selling the stock other retailers couldn’t move, ditto for Marshalls and the “outlet store” fiction) expanded and shifted and combined with online auctions, cottage industry, and the idea of the side hustle to spawn a whole new crop of reseller businesses. There has been a huge increase in the size and scope of the market, as new sellers pop up and buyers become aware of what’s available.
Shakeout and consolidation is probably inevitable.
One consideration is that it has broken the traditional retail model, and opened people up to the idea that goods don’t have to come from a store (or a big company — I mean selling platform– like Amazon). As the general economy worsens, there will be an increase in bargain hunters, of necessity. That means more person to person selling, more non-traditional venues (like swapmeets, black and grey markets, permanent yard sales, etc.) If it happens it means I was right to advocate learning about this way to shop before it became a necessity 😛
Anyway, consider your own habits and routines for getting the stuff you need and use. What if those options are not available, or not available at a price you can afford? It’s always easier to learn a new skill while you still have the backup option of doing things the old way.
Get out there and start learning about the secondary economy, or the “informal” economy. Use the practice to increase your stacks, and kill two birds with one stone.
nick