Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
Daniel Nissanoff, 40, is author of FutureShop (Penguin Press, $24.95) and co-founder of a company that helps resell luxury goods online. He buys a new cell phone twice a year, funded in part by reselling his "old" one.
You say we're going to be moving stuff in and out of our lives at a pretty good clip. We've grown up as a society of hoarders. But because of eBay, we're recognizing that the things we own -- a piece of furniture, a pair of shoes that hurt our feet but are basically new, a handbag we bought last year but no longer like -- have value that goes well beyond their usefulness to us. We can trade on that. When you buy a car, you know you'll sell it one day. The same thing will happen with golf clubs, skis, a watch, an appliance or a piece of furniture. One day their residual value will be published, just like the books for used cars.
Online shopping is a no-brainer. But online selling seems like a pain. It can be difficult. What's going to tip the scales is the advent of drop-off stores. Some 7,000 have opened in 18 months, from places like AuctionDrop, located in nearly 4,000 UPS stores, to mom-and-pops. You give them stuff, and they do the work. Within days, you're watching your stuff trade online. It's like the early days of the stock market. That market was never available to the average consumer until Merrill Lynch and Charles Schwab came to your neighborhood.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
What sells best? Brand-name items that are high-quality and durable. But everything depreciates at its own rate. If you're going to resell tech, you need to move a product while it's still current. You might be able to use a handbag for a year or two and then get back half the value. Giorgio Armani clothing does not do well online, but put Hermegrave;s, Louis Vuitton and Chanel online and you'll have a frenzy. There's a robust market for high-end women's shoes. People wear them a few times, then sell them for hundreds of dollars.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Look Out for These Gold Bar Scams as Prices SurgeFraudsters impersonating government agents are convincing victims to convert savings into gold — and handing it over in courier scams costing Americans millions.
-
How to Turn Your 401(k) Into A Real Estate EmpireTapping your 401(k) to purchase investment properties is risky, but it could deliver valuable rental income in your golden years.
-
My First $1 Million: Retired Nuclear Plant Supervisor, 68Ever wonder how someone who's made a million dollars or more did it? Kiplinger's My First $1 Million series uncovers the answers.
-
How to Search For Foreclosures Near You: Best Websites for ListingsMaking Your Money Last Searching for a foreclosed home? These top-rated foreclosure websites — including free, paid and government options — can help you find listings near you.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Is Relief from Shipping Woes Finally in Sight?business After years of supply chain snags, freight shipping is finally returning to something more like normal.
-
Economic Pain at a Food Pantrypersonal finance The manager of this Boston-area nonprofit has had to scramble to find affordable food.
-
The Golden Age of Cinema Enduressmall business About as old as talkies, the Music Box Theater has had to find new ways to attract movie lovers.
-
Pricey Gas Derails This Uber Driversmall business With rising gas prices, one Uber driver struggles to maintain his livelihood.
-
Smart Strategies for Couples Who Run a Business TogetherFinancial Planning Starting an enterprise with a spouse requires balancing two partnerships: the marriage and the business. And the stakes are never higher.
-
Fair Deals in a Tough Marketsmall business When you live and work in a small town, it’s not all about profit.