Complete Guide to Reselling Gaming Consoles Online

Is Reselling Gaming Consoles Profitable?

Reselling gaming consoles can be a lucrative side hustle or even a full-time business if you know how to navigate the market efficiently. For casual resellers, expect a monthly income of $300-$500 from flipping a few consoles. Serious resellers who dedicate significant time can potentially earn $1,000-$2,000 per month or more, depending on their sourcing strategy and sales volume.

Deep Dive on Sourcing: Where to Find Gaming Consoles

Sourcing is a critical part of reselling consoles profitably. Here's where to look:

Facebook Marketplace and Gumtree

After Christmas, many parents sell their kids' outgrown consoles to make room for newer models. Look for PS4s, Xbox Ones, and Switches at deep discounts. A console that retails for $200 might be listed for $100-$150.

Pawn Shops

Consoles are often traded in for cash and priced at 40-60% of market value. Always test disc drives and controllers in-store. If you find a PS4 priced at $120 that you can flip for $200, that's a solid deal.

Garage and Car Boot Sales

This is your goldmine for retro consoles. Many sellers are unaware of the retro gaming market boom. You might find an N64 for $50 that could easily fetch $150 online.

GameStop/GAME Trade-In Arbitrage

Keep an eye out for trade-in promotions. Sometimes the trade-in credit exceeds the clearance price of newer items. Buying clearance and trading during promos can yield surprising profits.

Choosing the Right Platform to Sell Gaming Consoles

Each platform has its strengths:

eBay

With 135 million active buyers, eBay is perfect for rare or high-value finds over $100, such as limited editions or retro consoles.

Vinted

Great for everyday items under $50. The audience here is less focused on high-value items, so consider this for older, less valuable consoles.

Facebook Marketplace

Ideal for local sales to avoid shipping costs. Use it for both current-gen and retro consoles.

Pricing Strategy

Your pricing can make or break a sale. Here are examples:

• Retro Consoles: PS2 or Xbox, price between $30-$80.
• Sought-After Retro: N64 or GameCube, price between $80-$200, depending on condition and included accessories.
• Current Gen: PS5 or Xbox Series X, price between $300-$450.
• Handhelds: Switch or Steam Deck, price between $150-$350.

Photography and Listing Optimization

Photography is your number one tool for attracting buyers:

• Show Functionality: Photograph the console powered on with a game running. Buyers trust visual proof of functionality.
• Highlight Details: Include photos of all ports, vents, and any cosmetic damage. Full transparency builds trust.
• What's Included: Layout all accessories in a photo. This prevents disputes related to missing items.

Use keywords like "tested","fully functional", and "original packaging" in listings. Tools like ListingGenie can help generate optimized listings swiftly.

FAQs on Reselling Gaming Consoles

• How do I determine the right selling price? Research current listings and recently sold items on your chosen platform to gauge the market price.
• What should I do if the console is missing accessories? Source replacements from eBay or Amazon. This can make the console more appealing and justify higher pricing.
• How do I handle returns? Clearly state your return policy on each listing. Be upfront about the console's condition to minimize returns.
• What if the console doesn't sell? Re-evaluate your pricing and listing photos. Sometimes a small price drop or better photos can make the difference.
• How can I ensure safe shipping? Use original packaging if available; otherwise, secure the console with bubble wrap and a snug-fitting box. Remove discs from drives and secure controllers to prevent damage.