I never will buy anything from Amazon because in 2018 I was hired by Amazon and being over 50 I wasn’t as quick moving as people in their early 20’s although I never made a mistake because I’m focused on perfection. But they fired me two weeks before Christmas. Pretty petty if you ask me. Now I’m back doing the work i love and I still strive for perfection and the company that hired me loves my devotion for their 63 retail stores. I’m a maintenance man
@@marka.2715 Not sure this situation qualifies as age discrimination. He said he didn't work as quickly as others. If he had been over 50 and worked as quickly, or quicker than others, he might still work there.
@@jt5747 I'm in my fifties and don't move as fast as I did in my younger years. You can't expect that out of someone 30+ years older than the young people. So yes, Amazon would be discriminating against this guy based on his age. I bet a good lawyer could easily make a case out of it.
@@marka.2715 I am also in my fifties and realize I am slipping behind what I used to be able to do, If a 50+ year-old person had been as equally productive as a 25 year old, everything else being equal, they probably wouldn't be let go. This isn't age-based, if anything, it is performance-based "discrimination." Should Amazon have to keep paying if the person's performance keeps slipping further and further behind, just because they are aging? At what point would this seem ridiculous to you? When they reach 80, 70, 60,...30 percent of the performance of other workers? I realize this isn't a pleasant reality for any of us, and I am definitely sympathetic to it, but how does that burden become the employer's burden?
I started working for Lowes when we had 165 stores and quit when we had 1500 , I used to buy EVERYTHING when it was in clearance back when we didn’t carry anything over so I would go to all the stores in Missouri and buy everything . When Case knives went to the blister packs all the box Case knives were clearanced out and I bought over 500 pocket knives for 2 dollars apiece , I would buy all the table saws , all lawn mowers and then have auctions
Another thing I recently learned was that the deals vary from store to store. I just recently bought the Ridgid 6ah max output 2 pack. It’s on “special buy” but depending on the store there can be a huge difference in price. My local store has the special buy for $199, a few towns away the same deal is $149! If there are multiple stores in your area definitely check it out first before you buy y’all….FYI!
I guess not everybody in the classifieds are selling (100s of) stolen tools, but their price tags are too high and I would much rather pay a bit more for the warranty.
I literally acquired all my tools this way for 4 years straight whether it was keeping the extras or using the money I made to buy the tools I wanted. Great video! I'm sure it will help many people build the tool collection they've always wanted or at least put some extra cash in their pocket.
Like you mentioned, many don’t realize that if you didn’t buy your Ridgid tools from Home Depot, it’s only the standard 3 year warranty- not the Lifetime LSA (Limited service agreement). Being that I’m avoiding having batteries and chargers for a zillion brands, I stick to just 2 brands- Ridgid 18v and Milwaukee M12 - that’s it. I also look for the green tag “special buys” but watch out in some of those because it could be a lessor quality tool like brush vs brushless.
On the 1099 Issue below, an EIN number can be entered into a 1099 form instead of SS#. That EIN can be from a corporation that you form. If you use an EIN from a corporation all expenses in the business are deductible including sales tax previously paid, miles on car, cell phone, advertising and Ebay fees, etc. At the end of all that is when Income is disrbursed to the individual and tax is paid based on bracket. If you are a reseller, and a state TAX ID number, you can present that at the store and be tax exempt, then Ebay will collect and pay the sales for you at each transaction. You just need to keep the receipts as deductions and proof of revenues cause the minute you get a sales tax exempt number the state thinks you are actually doing business and will want a return monthly in my case of SC. It might not be worth the hassle to get the sales tax exempt number, but the state will get twice the tax revenues on each item, something to consider.
I had one and didn’t file a state tax form because I hadn’t sold anything that year because of health reasons…so the state assumed my sales and sent me a huge bill with penalties lol…so I had to fill out the form stating zero and then hand over my paperwork as if I were closing up shop…then fought with the state to credit my file because they cashed the check…after the lady was rude to me I got to ask her why she’s accusing my bank of lying since I have the bank statement showing they got their money almost 6 months before….lol…make sure u fill it out even when. It using it
I used to buy some Hitachi tools from a place called Big Sky Tool that sold "reconditioned" tools. The first few were pretty good deals, they looked like ones that had just been returned with no actual problems, then I got a cordless Dremel-type tool that the chuck stop had been installed backward, didn't work right, and made a hole in your thumb trying. They made it a huge hassle to return and replace, I don't believe anyone really even looked at the tool before sending it out. Then the last one I bought was a cordless drill that the chuck would tighten by hand but you couldn't un-tighten it by hand, you had to use a pair of channel locks to get it open?!?! I never heard of a problem like that and I couldn't figure it out. The company said "too bad", if you are too weak to loosen the chuck that is on you, not us! At the time I was a building contractor who had been in the business for 30 years. Goodbye, Big Sky Tools!
@@oakdalegirl57 I did too until I didn't, but in all fairness, my incidence was 5 or 6 years ago so maybe changes have been made. I recall now what my main issue was with them, when I went to return the defective Dremel tool they said, no problem but insisted on my paying for the return postage. I said you sent me a defective tool and I have to pay for your mistake?!?! We went around and around but they finally did pay for it, but their attitude was really bad and accusational! Have you ever gone through a return with them for a defective item?
Tell you what, man, this is how I get all of my DeWalt batteries. People buy the combo packs, then split them up and sell each piece separately on ebay. It's beautiful. Everybody wins. I win as a buyer because I get things for less than I'd otherwise have to pay. The seller wins because he makes a few bucks. Heck, even Lowes wins...because they are selling originally at the price they want. Now, downside: If you buy on ebay, you are probably not going to get the warranty. Some folks don't care about that, so for them...no worries at all. For me, this is the reason I very rarely buy the actual tools this way. But for batteries? If you are getting 5, 8 and 10 AH batteries for 30, 40, 50 bucks apiece, does a warranty really matter? I have never gotten a bad one, but even if I did...who cares about a warranty of a $30.00 battery? It's a truly beautiful system, in my opinion.
In my area a few years ago lawn flags were out of stock region wide right before aeration season started. There oddly were plenty online at Amazon but 4-5x times the price. I ended up just making my own so the lawn service didn’t destroy my sprinkler heads.
There’s one thing that the sellers on eBay, Amazon & other sites may not realize is that those sites are required by the IRS to send the sellers a 1099. The IRS says the sellers have to claim all of money as income. I think that it starts in 2023, not for sure. So be aware.
I sell all mine on marketplace, made 2k profit in january, CASH is king and I don't accept electronic payment so not trackable by IRS, if I make bad buy and don't sell quickly I return it within 60 days, but this is rare because I only buy when marked at 70% off or more, I have lots of stores in the area I work and hit most of them once a week, when I get hot on an item I scoop them all up at all the stores
@@whitemale8492 So you have to meet up with a lot of strangers in parking lots. "White male " gives the game away . Officer , its not what it looks like ,I was just showing him my tool .
DTO is the best place to buy tools to resell. Example I just bought a brand new Homelite 26cc straight shaft string trimmer for $65 + a Ryobi drill driver and impact driver combo with two batteries and charger and bag for $50 + $15 shipping for all three. FedEx ground so it takes a couple days longer, but one price for shipping. If you are not looking there to buy tools, you need to look there first.
I use my Home Depot credit card at the beginning of the pandemic to buy a bunch of tools, and then I sold them so I could buy a car. Home Depot gives you six months to pay them back, by the time I have found a job, so I never had to pay any interest. I must purchase like $7000 worth of tools that year, and sold about 90% of them.
Scrapfarm does that. Great channel. An actual authentic person, not some over-produced hipster cos-playing. He is a flea market tool hustler. Also a scrapper/garbage picker. Also a storage auction guy. Also a gardener/farmer. He gets deals at Home Despot and resells them.
I tried it in the past, didn't work for me. U have to list it on each and every site to have a chance of it being profitable. Or be willing to hold stuff for months before selling it. I still have tools from a year ago I didn't sell
In my case reselling is a good idea to save money. I can guaranteed to get free tools or make a few bucks when piecing out the combo kit. Makita tools are expensive, so every free tool is a win for me.
The problem with selling on eBay, and Amazon is that they take a rather heft commission percentage of the sale. After they take their fees, these sellers don't make any money...If they do come out on top, it's literally pennies, maybe a few bucks per transaction. It's a lot of time invested in drop shipping for a few bucks on eBay. I tried this years ago. You have to be real dedicated, and be selling items that quickly sell on a daily basis for this to amount to any real income for the seller.
Talk about tool resellers.. go to a local flea market and there are tons of guys out there selling brand new tools in boxes probably obtained them buying them online from either Lowe's or Home Depot on sale or discontinued. But I have to agree with the UA-cam video why buy something if you don't get the warranty with it. Okay so maybe at a flea market you may save a few dollars but in the long run if the tool breaks say 6 months down the road you're 100% out of pocket more than likely.
What Clint forgot to mention is all the low ball offers people make when you try to resell. You are also competing with pallet buying guys who buy junk returns and sell them dirt cheap.
the problem is the pallet buying folks are not selling cheap...lol...they are discounting maybe 10 to 20 percent at most...no thanks..I rather have the warranty and receipt..now 50 percent off might be worth the risk.
Yes, and what he also forgot to mention is the hefty percentage Ebay charges for the listing. Might be the same for Amazon, but I don't have any personal experience with selling through them. Add the shipping cost to this, because the seller usually pays for the shipping, and you're really not making much money at all.
Good video. I prefer to get my tools from Home Depot, Ace, another local hardware store and on a few occasions Lowes. Like the Milwaukee line of tools and I personally want to make sure I get them from a reliable source. Plus I like that I can support local businesses big box or small who provide jobs to the community. To be honest I have fun shopping their deals!
Home Depot makes pricing mistakes Weekly! If you login at 3 am when the daily deals hit you can find some killer deals! i.e the M18 30 degree nailer, 2 8.0 batteries and a Sawzall for $269, when you buy 10 and sell the batteries for $100 each, sawzall for $130 and the nailer for $250, you would have made $2530 after seller fees in 3 days.
This works out best for the tool manufacturers. They sell the tools to the big box retailers at the contracted price and never have to worry about honoring the warranty.
Thanks for another great video Clint. It seems that all these money-making opportunities appear to be too easy. Sure some people will profit but I don't think the masses will. My advice is... watch your channel and get informed about good deals. 👍 ❤
I've never found the price to be low enough to be worth forfeiting a 5/3 year warranty, or even the 90 day exchange/return you get from Home Depot. If it were an obsolete tool I couldn't live without, only then would I feel it might be worth the risk.
I never pay for a Warrenty, yes a few months. There take care of you but. There know people don't keep track of a Warrenty on a $100 tool. I seen to many tools just walk off job anyway. I bought tools just to cut some rebarb and toss it. It cheeper to buy a $79 sal-zal that driving 500 miles.
Did not mention asking clerks/managers to override system and allow discounts like Veterans discount to apply to blocked products. Extra 10% can really move the needle gaming a wee bit further.
Sadly, in CA and some other parts of the country, certain people are just walking in and walking out with product. If it's less than $950 in Ca they don't get prosecuted (thank you voters of Prop 47). Lots of these tools show up online and in marketplace.
I mean..I just refuse to buy almost anything off the internet anymore. Saving money like this will eventually lead to less stores we can actually walk in.
This doesn't work. I always go to the clearance end caps at HD. Yesterday, I was scanning over an endcap and started chatting with an employee who commented about the endcap clearances, "what do you think we do when we get in every morning". I've found a few good deals, but mostly it is picked over by employees or others who happen to be there when it is put out. And on the website, anytime I come across a deal that is like 70%+ off, it is always sold out.
That 56% off on the Milwaukee bit set with the Packout box was too good to pass up. I went and grabbed it right after you talked about it. Thanks for the heads up!
Funny thing, these big box prices are already marked 50+% up anyway, so you aren't really getting much of a deal than if you had just bought the item new online anyway.
@@sarahann530 First, they're all marked up to begin with at the big box stores prior to sale. They're basically saying "we could sell very many of these at the hyper-inflated prices we were trying, so we'll have to knock the prices down to something more realistic. Second, the people who sell brand new unopened items online either a) bought them, but don't have any need for them or, b) were able to procure them at a much less price (think wholesale) and offer them at a more modest price because they don't have to pay the costs of maintaining a huge number of brick-and-mortar stores and employees to staff them.
It started innocently enough. The homeowner had purchased a set of Home Depot tools with the intention of tackling some DIY projects around the house. But as time passed, the tools were left sitting in the garage, gathering dust and cobwebs. Months went by, and the tools remained untouched. But then strange things began to happen. The homeowner started to feel like they were being watched, like something was lurking in the shadows of the garage. One night, while the homeowner was sleeping, they heard a loud clanging noise coming from the garage. They assumed it was just the wind knocking something over, but when they went to investigate the next morning, they found that the tools had been moved. At first, the homeowner tried to brush it off as a coincidence. But then it happened again, and again. The tools seemed to have a life of their own, moving around the garage whenever the homeowner wasn't looking. The homeowner tried to get rid of the tools, but every time they tried to throw them away, they found them back in the garage the next day. And then the nightmares started. The homeowner dreamt of the tools, twisting and turning into grotesque, monstrous shapes. They dreamt of being trapped in the garage, surrounded by the tools as they closed in, threatening to swallow the homeowner whole. The homeowner knew they had to do something, but they didn't know what. They tried to seek help, but no one believed their story. Everyone thought they were just being paranoid or delusional. And then one night, as the homeowner sat in the garage surrounded by the tools, they realized the truth. The tools had been possessed by a malevolent spirit, and they were now trapped in the garage, unable to escape the horrors that lurked within. The homeowner's fate was sealed, and they were never seen or heard from again. The tools remained in the garage, waiting for their next victim to stumble upon them and fall prey to their dark powers.
This was a good video however it does have some misinformation... It is true that with the rigid lifetime warranty it will require a receipt from home Depot.... However you said that's basically the same with Milwaukee and that is just not the case... Milwaukee can be warrantied without a receipt because Milwaukee goes by the serial number which has all the information that they need... The only reason Milwaukee should require a receipt is if the serial number indicates that the manufacture date of the tool is past its warranty. And in that case their receipt can help because it will start the warranty from the date of the receipt instead of the date of manufacture, ... Other than that specific instance a receipt for Milwaukee is not required for warranty.
If everyone is just getting one over on each other, where is the value created? Someone has to do the actual work. Start your own company and create a product or service to add value. This is also a more sustainable income. RA is a good hustle if you are in a bind and need quick cash.
I spent an hour in a Home Depot last week looking for clearance items. Not a single one of them was at a price level as low as what you have mentioned here. I don't think it's as easy as you say.
Prices that end in a 6 are within a 6-week price reduction. Prices that end in a 3 are reduced again in the price for another 3 weeks. After that, they are supposed to be pulled off the shelf. If they aren't, they will ring up for a penny. The system rings items up for a penny that don't have specific shelf space. Most clerks won't allow a penny sale, so you have to use self-checkout.
I have enough weed whacker string to wrap around the earth 60 thousand times and prolly Mars too thanks to a penny deal...not sure what I was thinking..and I finally have enough 10 and 13mm sockets to fill the grand canyon. I lose em on purpose now, and tip waiters with a handful on top of some cash.. 🤣 If something unexpectedly rings up at a penny and the clerk is difficult, just ask for a manager. They'll let ya have it. I now ALWAYS go to SCO for this reason now tho.
@@pvm3926 I always cross my fingers and kinda watch the SCO "attendant" to see if they're overly nosey. Keep your penny item(s) in the middle of other stuff you're buying. Only time I had an issue was when I foolishly asked the paint guy for a price check and he refused to let me take a $99 Rustoleum Counter top refinisher set. Had I asked for a manager, I woulda gotten it for the penny.
One thing to keep in mind is the warranty, not all manufacturers doesn’t warranty any tools bought through Amazon, some tool manufacturers who sells through am will. Smeeesh that like button. 👀👉🏼 👍🏽
I got a dewalt drill, battery, charger and bag bc it was last years display model and I got it for $9.95 😮 I’m a Milwaukee guy but I had to buy it lol I got it at lowes.
@A Conneely That is for damage or theft purchase protection for $10k per claim not warranty. When I got my Chase United Explorer card I got the 60k miles and warranty upgrade option but depending on which version of the card you get now it's 12-24 months onto of product warranties of 3 years or less.
So the obvious question here is this - Why would someone buy from someone marking it up for profit when they can go to Lowes or Home Depot and get the deal themselves?
Making thousands and spending thousands This reminds me of when I worked at a gas station and people would complain about the gas at the station being three cents cheaper down the street. So you spend $10 for fuel which is about 9cents. Did you really miss out on anything?
If your not making at least $10 profit then it’s not a good way to make money. You have to pay to sell your items. You’ll be working over 40 hours a week. Plus your on call 24/7
If someone (middleman) is making that kind of money for basically nothing, that means someone else is not getting a deal (the target purchaser)! Middlemen are the taints of society, standing between overpriced garbage to begin with and the person looking for an affordable product at a decent and fair price.
I'll tell you the way tools are built nowadays they last a long time if you don't abuse them. Plus most people are buying them for 50% of retail or less brother. If you want some more information you're welcome to contact me. I have a great wealth of knowledge on this subject and the history of it's evolution in the marketplace and to the consumer.
I realized that people were giving this info out about 10 years ago when I had sold a pair of boots I got from goodwill on eBay and made a profit…and then started doing that to make ends meet…now everyone does it and there’s no profit left in doing it…killed a good thing
Now, I have some other info but I'm not willing to post it because people will see it as an opportunity and use it to cheat the system and I don't like thieves. They hurt everybody in the long run.
You forget that Home Depot price matches to Amazon prices so essentially you could buy a tool from Amazon at full price, make it available to sell at a discounted price then buy it showing your own created price. You could then take the item bought at the original price back and get your money back.
The clearance end caps never have great deals I never see anything over 5% -10% off the original price I look every time and just end up wasting time Most of the time the price is not labeled either
Doesn't ebay and Amazon get their cut? So profits are very low, so the buyer of these products has to make a large investment to make thousands if dollars, there may only be 3 or si items in their inventory
lemme guess the title has something like "using this ONE SIMPLE TRICK" guess what? what if you live in a rural area LIKE ME where there aren't different stores where arbitrage can be practiced, or we dont have shit for clearance, NONE of this is new, a trick or any of that, just deals, many of which we dont get cuz we small area 90-100 miles from nearest big city.
Tbh, I don’t think most general contractors do this mainly because they don’t have time to resell things on eBay or their local friend/hardware store 🤣 It’s a great idea nonetheless but definitely for resellers that have that kind of time since reselling products is a process depending on how many thing you plan on reselling and how many you have to ship out today… could be a fun hobby on the weekends or it could be a full time job depending on the scale of your operation… but most importantly, you need a buyer lol so charge fair since more and more people are starting to shop for better deals … I for one only ever buy batteries online for my tools since it’s a massive price difference and some reputable website stores have deals for like the Dewalt powerstack where you can get a free tool with purchase of said powerstack for $200 I’ll take a shot at reselling whatever I can tho… but I am also fairly busy running a business and In the process of organizing/restocking inventory 🫠… and I have a weekend job/ I’m bored on the weekends
nobody ever accounts for the time it takes to go shop bring it home list it pack it mail it....if they did you would see they make hardly any money.........but people dont account for the time...ever........
Don't fall for this. You'll only end up wasting money on shipping fees and storage charges by Amazon for stockpiling your unsold merchandise. People who make such claims don't explain the true costs, such as gas and wear and tear on your car driving all around town for deals. Taxes you'll pay on earnings. Fees, fees and more fees to send individual items, etc. You could work for a full year doing this and when you add up all the true costs, you'll be lucky to make as much as you made working for minimum wage somewhere, and you would have spend far less of your personal time doing so.
Cedar Rapids iowa store never has deals of any like what i hear these channels or others talk about.. Even the Milwaukee reps won’t give out a free sticker!
That's not where the real money is at the real money is purchasing these tools through deals in the US I'm selling them overseas obviously you do need a contact on the other side
I seriously doubt that you could make "thousands of dollars" doing this - looks like the times it would work out, would probably equal the times you couldn't sell the product... :)
I never will buy anything from Amazon because in 2018 I was hired by Amazon and being over 50 I wasn’t as quick moving as people in their early 20’s although I never made a mistake because I’m focused on perfection. But they fired me two weeks before Christmas. Pretty petty if you ask me. Now I’m back doing the work i love and I still strive for perfection and the company that hired me loves my devotion for their 63 retail stores. I’m a maintenance man
You mean Amazon actually fires people? I would think that moronic company would be thrilled with any help they can get.
You should have filed a lawsuit for age discrimination. I would have. Amazon is a bunch of prick's to work for.
@@marka.2715 Not sure this situation qualifies as age discrimination. He said he didn't work as quickly as others. If he had been over 50 and worked as quickly, or quicker than others, he might still work there.
@@jt5747 I'm in my fifties and don't move as fast as I did in my younger years. You can't expect that out of someone 30+ years older than the young people. So yes, Amazon would be discriminating against this guy based on his age. I bet a good lawyer could easily make a case out of it.
@@marka.2715 I am also in my fifties and realize I am slipping behind what I used to be able to do, If a 50+ year-old person had been as equally productive as a 25 year old, everything else being equal, they probably wouldn't be let go. This isn't age-based, if anything, it is performance-based "discrimination." Should Amazon have to keep paying if the person's performance keeps slipping further and further behind, just because they are aging? At what point would this seem ridiculous to you? When they reach 80, 70, 60,...30 percent of the performance of other workers? I realize this isn't a pleasant reality for any of us, and I am definitely sympathetic to it, but how does that burden become the employer's burden?
I started working for Lowes when we had 165 stores and quit when we had 1500 , I used to buy EVERYTHING when it was in clearance back when we didn’t carry anything over so I would go to all the stores in Missouri and buy everything .
When Case knives went to the blister packs all the box Case knives were clearanced out and I bought over 500 pocket knives for 2 dollars apiece , I would buy all the table saws , all lawn mowers and then have auctions
AWESOME
Another thing I recently learned was that the deals vary from store to store. I just recently bought the Ridgid 6ah max output 2 pack. It’s on “special buy” but depending on the store there can be a huge difference in price. My local store has the special buy for $199, a few towns away the same deal is $149! If there are multiple stores in your area definitely check it out first before you buy y’all….FYI!
Always check in store clearance and in different locations because as you pointed out each store has different prices.
They "quit their job in order to work 60 hrs a week selling tools and running a small business."
This was literally one of the dumbest videos ever. I’m going to buy 34000 tools to make an extra 6 bucks a month.
From home or abroad...💨🦶🦶...😙
I guess not everybody in the classifieds are selling (100s of) stolen tools, but their price tags are too high and I would much rather pay a bit more for the warranty.
I literally acquired all my tools this way for 4 years straight whether it was keeping the extras or using the money I made to buy the tools I wanted. Great video! I'm sure it will help many people build the tool collection they've always wanted or at least put some extra cash in their pocket.
Like you mentioned, many don’t realize that if you didn’t buy your Ridgid tools from Home Depot, it’s only the standard 3 year warranty- not the Lifetime LSA (Limited service agreement).
Being that I’m avoiding having batteries and chargers for a zillion brands, I stick to just 2 brands- Ridgid 18v and Milwaukee M12 - that’s it.
I also look for the green tag “special buys” but watch out in some of those because it could be a lessor quality tool like brush vs brushless.
People buy tools on clearance and make money selling them?? I am shocked! Never heard of this before!
Well he does say that in the video so .........
Funny story. I quit my 15-year career at Lowes (4 at HD before Lowes). How? To sell products I'd find that I could sell on Amazon for profits.
It's 2023. Little late on this one.Suggesr you stick to tool reviews lol
I'm surprised this video wasn't titled "BIG BOX HARDWARE DOESN'T WANT YOU TO KNOW ABOUT THIS ONE SIMPLE TRICK"
They do there's guy's and gals that do thi as a FT job. Former Employee-Management btw of both brands
Former Manager of both brands I had guys that I would call to buy out all my clearance at a deeper discount not only tools but appliances as well.
On the 1099 Issue below, an EIN number can be entered into a 1099 form instead of SS#. That EIN can be from a corporation that you form. If you use an EIN from a corporation all expenses in the business are deductible including sales tax previously paid, miles on car, cell phone, advertising and Ebay fees, etc. At the end of all that is when Income is disrbursed to the individual and tax is paid based on bracket. If you are a reseller, and a state TAX ID number, you can present that at the store and be tax exempt, then Ebay will collect and pay the sales for you at each transaction. You just need to keep the receipts as deductions and proof of revenues cause the minute you get a sales tax exempt number the state thinks you are actually doing business and will want a return monthly in my case of SC. It might not be worth the hassle to get the sales tax exempt number, but the state will get twice the tax revenues on each item, something to consider.
This sounds a lot like trading one job for another job, not "quitting a job"....
@@michaelduffee6402 Sounds like a smart businessman to me.
Ur becoming ur own boss…
I had one and didn’t file a state tax form because I hadn’t sold anything that year because of health reasons…so the state assumed my sales and sent me a huge bill with penalties lol…so I had to fill out the form stating zero and then hand over my paperwork as if I were closing up shop…then fought with the state to credit my file because they cashed the check…after the lady was rude to me I got to ask her why she’s accusing my bank of lying since I have the bank statement showing they got their money almost 6 months before….lol…make sure u fill it out even when. It using it
I've been buying and reselling power tools for years. Started when I worked at hd and still continue to do it
I used to buy some Hitachi tools from a place called Big Sky Tool that sold "reconditioned" tools. The first few were pretty good deals, they looked like ones that had just been returned with no actual problems, then I got a cordless Dremel-type tool that the chuck stop had been installed backward, didn't work right, and made a hole in your thumb trying. They made it a huge hassle to return and replace, I don't believe anyone really even looked at the tool before sending it out. Then the last one I bought was a cordless drill that the chuck would tighten by hand but you couldn't un-tighten it by hand, you had to use a pair of channel locks to get it open?!?! I never heard of a problem like that and I couldn't figure it out. The company said "too bad", if you are too weak to loosen the chuck that is on you, not us!
At the time I was a building contractor who had been in the business for 30 years.
Goodbye, Big Sky Tools!
I had great luck with Big Sky Tools.....
@@oakdalegirl57 I did too until I didn't, but in all fairness, my incidence was 5 or 6 years ago so maybe changes have been made. I recall now what my main issue was with them, when I went to return the defective Dremel tool they said, no problem but insisted on my paying for the return postage. I said you sent me a defective tool and I have to pay for your mistake?!?! We went around and around but they finally did pay for it, but their attitude was really bad and accusational!
Have you ever gone through a return with them for a defective item?
Tell you what, man, this is how I get all of my DeWalt batteries. People buy the combo packs, then split them up and sell each piece separately on ebay. It's beautiful. Everybody wins.
I win as a buyer because I get things for less than I'd otherwise have to pay. The seller wins because he makes a few bucks. Heck, even Lowes wins...because they are selling originally at the price they want.
Now, downside: If you buy on ebay, you are probably not going to get the warranty. Some folks don't care about that, so for them...no worries at all. For me, this is the reason I very rarely buy the actual tools this way. But for batteries?
If you are getting 5, 8 and 10 AH batteries for 30, 40, 50 bucks apiece, does a warranty really matter? I have never gotten a bad one, but even if I did...who cares about a warranty of a $30.00 battery?
It's a truly beautiful system, in my opinion.
Can't blame ya brother. Those damn batteries are freaking expensive
In my area a few years ago lawn flags were out of stock region wide right before aeration season started. There oddly were plenty online at Amazon but 4-5x times the price. I ended up just making my own so the lawn service didn’t destroy my sprinkler heads.
There’s one thing that the sellers on eBay, Amazon & other sites may not realize is that those sites are required by the IRS to send the sellers a 1099. The IRS says the sellers have to claim all of money as income. I think that it starts in 2023, not for sure. So be aware.
That’s been canceled as of 2023. Program won’t be implemented
I sell all mine on marketplace, made 2k profit in january, CASH is king and I don't accept electronic payment so not trackable by IRS, if I make bad buy and don't sell quickly I return it within 60 days, but this is rare because I only buy when marked at 70% off or more, I have lots of stores in the area I work and hit most of them once a week, when I get hot on an item I scoop them all up at all the stores
@@Travis2L not this year but it will be.
@@whitemale8492 So you have to meet up with a lot of strangers in parking lots. "White male " gives the game away . Officer , its not what it looks like ,I was just showing him my tool .
@@whitemale8492 you target tools or stuff like appliances too?
DTO is the best place to buy tools to resell. Example I just bought a brand new Homelite 26cc straight shaft string trimmer for $65 + a Ryobi drill driver and impact driver combo with two batteries and charger and bag for $50 + $15 shipping for all three. FedEx ground so it takes a couple days longer, but one price for shipping. If you are not looking there to buy tools, you need to look there first.
I use my Home Depot credit card at the beginning of the pandemic to buy a bunch of tools, and then I sold them so I could buy a car. Home Depot gives you six months to pay them back, by the time I have found a job, so I never had to pay any interest. I must purchase like $7000 worth of tools that year, and sold about 90% of them.
EXCELLENT
What gets me is the people that buy the pallets of returns or discontinue and try to sell them full price with no warranty
I buy those with my chase card which gives me a 3 year warranty but you are right with some of these shady sellers marking them at full price.
@@KWW0321 Wait huh?
@UltraGamma25 With the Chase explorer card they warranty purchases for 3 years, other credit cards have similar perks as well.
I've been doing this for awhile now, great side hustle!
Postage, driving around, boxing it up, dealing with the general public. Go ahead.
No doubt!
What a trick selling something for more than you buy it for ! Who would have ever thought of doing this?
Scrapfarm does that. Great channel. An actual authentic person, not some over-produced hipster cos-playing. He is a flea market tool hustler. Also a scrapper/garbage picker. Also a storage auction guy. Also a gardener/farmer. He gets deals at Home Despot and resells them.
I tried it in the past, didn't work for me. U have to list it on each and every site to have a chance of it being profitable. Or be willing to hold stuff for months before selling it. I still have tools from a year ago I didn't sell
Boxing and shipping items I’ve sold online is a huge timesuck.
Apparently my Home Depot Managers are doing this because nothing they have on clearance worth a damn
In my case reselling is a good idea to save money. I can guaranteed to get free tools or make a few bucks when piecing out the combo kit. Makita tools are expensive, so every free tool is a win for me.
If you get in good with management you can get some even better deals and make a lot more!!
Hahaha, that's real nass like Kentucky 🤣👊👊
The problem with selling on eBay, and Amazon is that they take a rather heft commission percentage of the sale. After they take their fees, these sellers don't make any money...If they do come out on top, it's literally pennies, maybe a few bucks per transaction. It's a lot of time invested in drop shipping for a few bucks on eBay. I tried this years ago. You have to be real dedicated, and be selling items that quickly sell on a daily basis for this to amount to any real income for the seller.
Talk about tool resellers.. go to a local flea market and there are tons of guys out there selling brand new tools in boxes probably obtained them buying them online from either Lowe's or Home Depot on sale or discontinued.
But I have to agree with the UA-cam video why buy something if you don't get the warranty with it.
Okay so maybe at a flea market you may save a few dollars but in the long run if the tool breaks say 6 months down the road you're 100% out of pocket more than likely.
eBay and other seller sites also charge $$$ to sell tools. It may be 15% on EBay.
Feebay
What Clint forgot to mention is all the low ball offers people make when you try to resell. You are also competing with pallet buying guys who buy junk returns and sell them dirt cheap.
the problem is the pallet buying folks are not selling cheap...lol...they are discounting maybe 10 to 20 percent at most...no thanks..I rather have the warranty and receipt..now 50 percent off might be worth the risk.
Since when can you low ball or haggle prices on Amazon?
Yes, and what he also forgot to mention is the hefty percentage Ebay charges for the listing. Might be the same for Amazon, but I don't have any personal experience with selling through them. Add the shipping cost to this, because the seller usually pays for the shipping, and you're really not making much money at all.
Good video. I prefer to get my tools from Home Depot, Ace, another local hardware store and on a few occasions Lowes. Like the Milwaukee line of tools and I personally want to make sure I get them from a reliable source. Plus I like that I can support local businesses big box or small who provide jobs to the community. To be honest I have fun shopping their deals!
Same here!
Home Depot makes pricing mistakes Weekly! If you login at 3 am when the daily deals hit you can find some killer deals! i.e the M18 30 degree nailer, 2 8.0 batteries and a Sawzall for $269, when you buy 10 and sell the batteries for $100 each, sawzall for $130 and the nailer for $250, you would have made $2530 after seller fees in 3 days.
yeah this is where the money is made one night is was a sawzall and a chain saw 2 8 battrys for 399 i was hell yeah
This works out best for the tool manufacturers. They sell the tools to the big box retailers at the contracted price and never have to worry about honoring the warranty.
Thanks for another great video Clint. It seems that all these money-making opportunities appear to be too easy. Sure some people will profit but I don't think the masses will. My advice is... watch your channel and get informed about good deals. 👍 ❤
I've never found the price to be low enough to be worth forfeiting a 5/3 year warranty, or even the 90 day exchange/return you get from Home Depot. If it were an obsolete tool I couldn't live without, only then would I feel it might be worth the risk.
True
I never pay for a Warrenty, yes a few months. There take care of you but. There know people don't keep track of a Warrenty on a $100 tool. I seen to many tools just walk off job anyway. I bought tools just to cut some rebarb and toss it. It cheeper to buy a $79 sal-zal that driving 500 miles.
Did not mention asking clerks/managers to override system and allow discounts like Veterans discount to apply to blocked products. Extra 10% can really move the needle gaming a wee bit further.
Sadly, in CA and some other parts of the country, certain people are just walking in and walking out with product. If it's less than $950 in Ca they don't get prosecuted (thank you voters of Prop 47). Lots of these tools show up online and in marketplace.
It's crazy
Retail arbitrage is not a new idea. I guess you and the author of that article live under a rock.
1:14 "Milllie-wah-kay" , Wayne's World
I mean..I just refuse to buy almost anything off the internet anymore. Saving money like this will eventually lead to less stores we can actually walk in.
This doesn't work. I always go to the clearance end caps at HD. Yesterday, I was scanning over an endcap and started chatting with an employee who commented about the endcap clearances, "what do you think we do when we get in every morning". I've found a few good deals, but mostly it is picked over by employees or others who happen to be there when it is put out.
And on the website, anytime I come across a deal that is like 70%+ off, it is always sold out.
Great video
That 56% off on the Milwaukee bit set with the Packout box was too good to pass up. I went and grabbed it right after you talked about it. Thanks for the heads up!
Funny thing, these big box prices are already marked 50+% up anyway, so you aren't really getting much of a deal than if you had just bought the item new online anyway.
@Private Name Where do you buy these tools 50% less online ?
@@sarahann530 First, they're all marked up to begin with at the big box stores prior to sale. They're basically saying "we could sell very many of these at the hyper-inflated prices we were trying, so we'll have to knock the prices down to something more realistic. Second, the people who sell brand new unopened items online either a) bought them, but don't have any need for them or, b) were able to procure them at a much less price (think wholesale) and offer them at a more modest price because they don't have to pay the costs of maintaining a huge number of brick-and-mortar stores and employees to staff them.
@Private Name They also steal them to sell online you forgot that one . Business has to put a markup on products . It's how they stay in business.
It started innocently enough. The homeowner had purchased a set of Home Depot tools with the intention of tackling some DIY projects around the house. But as time passed, the tools were left sitting in the garage, gathering dust and cobwebs.
Months went by, and the tools remained untouched. But then strange things began to happen. The homeowner started to feel like they were being watched, like something was lurking in the shadows of the garage.
One night, while the homeowner was sleeping, they heard a loud clanging noise coming from the garage. They assumed it was just the wind knocking something over, but when they went to investigate the next morning, they found that the tools had been moved.
At first, the homeowner tried to brush it off as a coincidence. But then it happened again, and again. The tools seemed to have a life of their own, moving around the garage whenever the homeowner wasn't looking.
The homeowner tried to get rid of the tools, but every time they tried to throw them away, they found them back in the garage the next day. And then the nightmares started.
The homeowner dreamt of the tools, twisting and turning into grotesque, monstrous shapes. They dreamt of being trapped in the garage, surrounded by the tools as they closed in, threatening to swallow the homeowner whole.
The homeowner knew they had to do something, but they didn't know what. They tried to seek help, but no one believed their story. Everyone thought they were just being paranoid or delusional.
And then one night, as the homeowner sat in the garage surrounded by the tools, they realized the truth. The tools had been possessed by a malevolent spirit, and they were now trapped in the garage, unable to escape the horrors that lurked within.
The homeowner's fate was sealed, and they were never seen or heard from again. The tools remained in the garage, waiting for their next victim to stumble upon them and fall prey to their dark powers.
Rumor has it you hold your breath while channel surfing......
That would be an awesome story line for a haunted house.
This was a good video however it does have some misinformation... It is true that with the rigid lifetime warranty it will require a receipt from home Depot.... However you said that's basically the same with Milwaukee and that is just not the case... Milwaukee can be warrantied without a receipt because Milwaukee goes by the serial number which has all the information that they need... The only reason Milwaukee should require a receipt is if the serial number indicates that the manufacture date of the tool is past its warranty. And in that case their receipt can help because it will start the warranty from the date of the receipt instead of the date of manufacture, ... Other than that specific instance a receipt for Milwaukee is not required for warranty.
If everyone is just getting one over on each other, where is the value created? Someone has to do the actual work. Start your own company and create a product or service to add value. This is also a more sustainable income. RA is a good hustle if you are in a bind and need quick cash.
I've been doing this for years, hit depot after Christmas find stuff up to 90% off.
I spent an hour in a Home Depot last week looking for clearance items. Not a single one of them was at a price level as low as what you have mentioned here. I don't think it's as easy as you say.
Funny, I just found a few and brought them to the channel. Keep looking
Prices that end in a 6 are within a 6-week price reduction. Prices that end in a 3 are reduced again in the price for another 3 weeks. After that, they are supposed to be pulled off the shelf. If they aren't, they will ring up for a penny. The system rings items up for a penny that don't have specific shelf space. Most clerks won't allow a penny sale, so you have to use self-checkout.
I have enough weed whacker string to wrap around the earth 60 thousand times and prolly Mars too thanks to a penny deal...not sure what I was thinking..and I finally have enough 10 and 13mm sockets to fill the grand canyon. I lose em on purpose now, and tip waiters with a handful on top of some cash.. 🤣 If something unexpectedly rings up at a penny and the
clerk is difficult, just ask for a manager. They'll let ya have it. I now ALWAYS go to SCO for this reason now tho.
And pray to God they aren't watching even with self check out.
@@pvm3926 I always cross my fingers and kinda watch the SCO "attendant" to see if they're overly nosey. Keep your penny item(s) in the middle of other stuff you're buying. Only time I had an issue was when I foolishly asked the paint guy for a price check and he refused to let me take a $99 Rustoleum Counter top refinisher set. Had I asked for a manager, I woulda gotten it for the penny.
One thing to keep in mind is the warranty, not all manufacturers doesn’t warranty any tools bought through Amazon, some tool manufacturers who sells through am will.
Smeeesh that like button. 👀👉🏼 👍🏽
Thanks for the info and SMEEESH Jason!!!
If someone buys power tools from the store then sells it online the warranty is gone
I'm all about the warranty, not saving 9 bucks. Think people
I got a dewalt drill, battery, charger and bag bc it was last years display model and I got it for $9.95 😮 I’m a Milwaukee guy but I had to buy it lol I got it at lowes.
Don't forget to factor in the tax and that you have to collect tax when you resell (technically).
I always assume those deals from new/low volume sellers on ebay/amazon/FB marketplace are stolen.
I'm sure some of them probably are 🤔
That's why I like drop shipping, much less risk!
I use my chase card when ever getting milwaukee products from ebay/Amazon which gives me a 3 year zero hassle warranty.
The Chase warranty is only 120 days
@A Conneely That is for damage or theft purchase protection for $10k per claim not warranty. When I got my Chase United Explorer card I got the 60k miles and warranty upgrade option but depending on which version of the card you get now it's 12-24 months onto of product warranties of 3 years or less.
They don't even have clearance racks in the stores by me
So the obvious question here is this - Why would someone buy from someone marking it up for profit when they can go to Lowes or Home Depot and get the deal themselves?
Because the deals are no longer there. The flippers buy up EVERYTHING.
Interesting Clint 🤔
I always see half off DeWalt tools at a Lowe's by me been reselling in ebayv
Making thousands and spending thousands
This reminds me of when I worked at a gas station and people would complain about the gas at the station being three cents cheaper down the street. So you spend $10 for fuel which is about 9cents. Did you really miss out on anything?
If your not making at least $10 profit then it’s not a good way to make money. You have to pay to sell your items. You’ll be working over 40 hours a week. Plus your on call 24/7
This is called retail arbitrage...taking advantage of price differences in different areas to make $$$.
If someone (middleman) is making that kind of money for basically nothing, that means someone else is not getting a deal (the target purchaser)! Middlemen are the taints of society, standing between overpriced garbage to begin with and the person looking for an affordable product at a decent and fair price.
Bingo.... calling them taints is being too kind.. there are more like something found at the bottom of the taint
If you’re making money…you’re doing business…you’re liable for taxes on your profits. Good luck beating the big box store and online sellers’ margins!
I'll tell you the way tools are built nowadays they last a long time if you don't abuse them. Plus most people are buying them for 50% of retail or less brother. If you want some more information you're welcome to contact me. I have a great wealth of knowledge on this subject and the history of it's evolution in the marketplace and to the consumer.
Sure, possible if your one of the first group using a new platform. IF now, " A fool and his/her money is soon parted. "
Thank for showing everyone really awesome of you and I'm being sarcastic ruin a good thing for ppl
Yeah, you are welcome..... and I'm also being sarcastic
I realized that people were giving this info out about 10 years ago when I had sold a pair of boots I got from goodwill on eBay and made a profit…and then started doing that to make ends meet…now everyone does it and there’s no profit left in doing it…killed a good thing
Now, I have some other info but I'm not willing to post it because people will see it as an opportunity and use it to cheat the system and I don't like thieves. They hurt everybody in the long run.
You forget that Home Depot price matches to Amazon prices so essentially you could buy a tool from Amazon at full price, make it available to sell at a discounted price then buy it showing your own created price.
You could then take the item bought at the original price back and get your money back.
The clearance end caps never have great deals I never see anything over 5% -10% off the original price I look every time and just end up wasting time Most of the time the price is not labeled either
Doesn't ebay and Amazon get their cut? So profits are very low, so the buyer of these products has to make a large investment to make thousands if dollars, there may only be 3 or si items in their inventory
lemme guess the title has something like "using this ONE SIMPLE TRICK" guess what? what if you live in a rural area LIKE ME where there aren't different stores where arbitrage can be practiced, or we dont have shit for clearance, NONE of this is new, a trick or any of that, just deals, many of which we dont get cuz we small area 90-100 miles from nearest big city.
Washer/Dryer ☘ Irish Honey Badger - Why did you deliver a broken unit pair to my home? 👎
Because they steal the tools. Its not like the employees are allowed to do anything about it, except watch them leave the building
A lot of these sellers are people that are stealing from the stores. I'll continue to use the apps or websites to buy them legit through deals.
Theres only so much money to be made from snatching up local deals
My man just said Mill-wahck,uh
You can't just sign up to Amazon like you do with ebay.
Learn a skill or a trade and make thousands old fashion way. Way better and more satisfying!
Lol remember all those scoot and looting in all the stores across America. Well, here are your deals 😂😂😂😂😂😂
Tbh, I don’t think most general contractors do this mainly because they don’t have time to resell things on eBay or their local friend/hardware store 🤣
It’s a great idea nonetheless but definitely for resellers that have that kind of time since reselling products is a process depending on how many thing you plan on reselling and how many you have to ship out today… could be a fun hobby on the weekends or it could be a full time job depending on the scale of your operation… but most importantly, you need a buyer lol so charge fair since more and more people are starting to shop for better deals … I for one only ever buy batteries online for my tools since it’s a massive price difference and some reputable website stores have deals for like the Dewalt powerstack where you can get a free tool with purchase of said powerstack for $200
I’ll take a shot at reselling whatever I can tho… but I am also fairly busy running a business and In the process of organizing/restocking inventory 🫠… and I have a weekend job/ I’m bored on the weekends
Or save half on offerup
nobody ever accounts for the time it takes to go shop bring it home list it pack it mail it....if they did you would see they make hardly any money.........but people dont account for the time...ever........
Thats not what they are doing... there is another "hack" you can do to save a lot more money on tools. Which a lot of people do and flip them
Don't fall for this. You'll only end up wasting money on shipping fees and storage charges by Amazon for stockpiling your unsold merchandise. People who make such claims don't explain the true costs, such as gas and wear and tear on your car driving all around town for deals. Taxes you'll pay on earnings. Fees, fees and more fees to send individual items, etc. You could work for a full year doing this and when you add up all the true costs, you'll be lucky to make as much as you made working for minimum wage somewhere, and you would have spend far less of your personal time doing so.
Cedar Rapids iowa store never has deals of any like what i hear these channels or others talk about.. Even the Milwaukee reps won’t give out a free sticker!
Or you can just steal them. That's what they do in my neighborhood.
Been doing this for years ...
That's not where the real money is at the real money is purchasing these tools through deals in the US I'm selling them overseas obviously you do need a contact on the other side
Not worth it in general. Perhaps low volume extra income, but not a way to quit your job.
milwauk.. i. a why?
I seriously doubt that you could make "thousands of dollars" doing this - looks like the times it would work out, would probably equal the times you couldn't sell the product... :)
Too many people selling tools it's hard to compete
I thought most of that ebay stuff was stolen.
first. good video
Well, they WERE, but now 525K people have watched this video. 😛
Better late than never I guess 🤷
Or just steal the Tools and make more money !!!!!! Prosecute all thieves !!!
Did anybody else catch how he pronounced Milwaukee? I can't tell if it's a joke or not...