Trade-In Tech
by on January 26, 2021
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In the 1970s and 80s, video games were only beginning to become popular. As time went on, video games continued making their way into more homes. 

 

With video games being so popular, you might wonder: is there a way to profit from this industry? Yes, if you know how to buy and sell video game consoles. 

 

In this post, we’ll take a quick look at what video game consoles are the most popular. We’ll also look at how you can start finding video game consoles and reselling them online.

 

Popular Game Consoles Worth Finding

 

 

It’s ok if you’re not sure what the most popular game consoles are right now. As is often the case with the electronics industry, this one moves fast sometimes. Right now, the current leaders of this industry are Sony, PlayStation, and Nintendo.

 

Sony Playstation 4/Playstation 5

 

In the gaming industry, Sony is the company behind the PlayStation video game console. But, you probably know this company from its televisions or other electronics. This company’s current console is either the Sony PlayStation 4 or PlayStation 5, depending on when you’re reading this.

 

Most Valuable Console: The most profitable Sony console on the market is the PlayStation 4 Pro. Depending on its condition, the PS4 Pro resales for about $250-$350.

 

Microsoft Xbox One

 

If you know a bit about video games, you’re probably familiar with Microsoft. For almost the past two decades, Microsoft has been in the video game industry with its Xbox console. Microsoft’s current-generation video game console is called the Xbox One.

 

Most Valuable Console: Microsoft’s most valuable console is the Xbox One X. As Sony did with the Playstation 4 Pro, this is Microsoft’s “pro” version of the Xbox One. Right now, the Xbox One X can resell for anywhere from $250-$350.

 

Nintendo Switch

 

Lastly, we have to mention the other iconic company in this bunch and that’s Nintendo. Out of all current-generation video game consoles, the Nintendo Switch is the newest of the bunch. Releasing in 2017, the Nintendo Switch allows owners to play their games at home or on-the-go.

 

Most Valuable Console: Nintendo’s most valuable current generation console is the Nintendo Switch. This video game console resells for around $300-$400.

 

“Classic” or “Mini” Console Rereleases

 

With all of that said, you don’t have to buy these specific consoles to make money selling gaming-related products. Recently, both Nintendo and Sony are capitalizing on the nostalgia market by rereleasing classic consoles. These are otherwise known as “classic consoles.”

 

A few notable re-releases include the NES mini, SNES mini, and the PlayStation classic. These items don’t retail for as much as their current-generation counterparts. However, classic consoles are much rarer due to being made in limited production runs.

 

Virtual Reality

 

While it still has ground to gain to compete with established gaming companies, virtual reality is becoming quite popular. Virtual reality headsets and accompanying controllers can bring in hundreds of dollars per sale. However, these items might not be as easy to find as more popular video game consoles.

 

Should I Buy New, Used, or Broken Video Game Consoles?

 

 

Before you start buying products, it’s a good idea to learn what type of wholesale electronics business you want to operate. Do you want to buy and resale new, used, or broken video game consoles?

 

Buying new video game consoles can mean selling extremely valuable items. However, you’re also going to be paying more for the condition of these video game consoles. If you can find new video game consoles at prices that cover your costs and leave room for profit, that’s great. But, it might take a little while before you have such luck with new consoles.

 

The most popular option for easier profits would be to buy used video game consoles. In the used market, it’s often easier to find people who are either unsure of or don’t care about the value of what they’re selling. You can also find plenty of electronics wholesalers that work with video game consoles and accessories.

 

Your last option is to purchase broken video game consoles. I know that might sound crazy. But it’s possible to buy broken video game consoles and do what’s known as flipping. When you flip a video game console, you (or a professional refurbisher) fix what is broken and resale this item. 

 

Because broken video game consoles are often dirt cheap, these items can provide you with massive profit margins. You can also make money with broken or damaged video game consoles by selling this device’s parts.

 

Where Can I Find Video Game Consoles for Sale?

 

 

Before you go further, it’s helpful to learn where to find video game consoles for sale. We’re glad to let you know there are many great ways to do this. Let’s take a look at several ways to find video game consoles you can start reselling.

 

Trade-In Tech

 

If you’re looking for video game consoles and wholesale video game lots, Trade-In Tech has what you need. Our platform helps electronics dealers, refurbishers, and other companies in this industry connect with each other.

 

By having such a large network of members, we’re able to offer new listings around the clock. This is great if you’re wanting to start buying consoles but don’t want thousands of them yet.

 

We also offer a simple to use messaging system. You can use this system to learn more about what others are selling. It’s also perfect for taking questions from buyers interested in what you sell.

 

You can see some of the items our members are selling by visiting Trade-In Tech’s electronics marketplace.

 

eBay

 

Another popular destination for people looking for video game consoles is eBay. This popular website has members list what they want to sell. After doing this, they choose whether they want to list items on auctions or at “Buy It Now” prices.

 

If you’re buying video game consoles from eBay auctions, the price is set based on how much bidders want to pay. When it comes to buying video game consoles (or anything) from an auction, it can be a double-edged sword.

 

On one hand, it’s possible to get lots of deals from auctions with low bids. It’s also possible to overpay for something if you get too attached or don’t know the value of what you’re buying.

 

We wouldn’t recommend avoiding auctions altogether. Just make sure you know the value of what you’re bidding on.

 

Craigslist

 

If eBay isn’t for you, it’s possible to find video game consoles for sale on Craigslist. Unlike eBay, Craigslist’s transactions involve meeting people in person. It’s understandable if meeting a random person somewhere isn’t for you.

 

Another potential drawback is that Craigslist doesn’t use a rating system. So, you’re not going to know much about the person you’re buying video game consoles from. To be on the safe side, we recommend meeting your buyer during the daytime and in a public setting.

 

As you begin to grow your business, the quantities of video game consoles available on Craigslist might not be enough. Unless you live near bulk dealers, Craigslist is best for those who are just starting out as wholesalers.

 

Direct Manufacturer Partnerships

 

To start reselling video game consoles, there’s also the option of partnering directly with video game console manufacturers. With that said, these partnerships can be difficult to achieve for newer wholesalers. 

 

To gain this type of partnership, most large manufacturers will need proof that you’re capable of moving a certain amount of consoles per week or month.

 

Tips to Follow When Selling Video Game Consoles Online

 

 

Lastly, let’s look at how to start boosting your sales as fast as possible. These tips are also helpful if you’re new to selling video game consoles and need a little more help. If you’re just starting out or are in a sales slump, try out these strategies.

 

1. Clean Consoles Before Listing Them

 

If you’re buying brand new consoles, feel free to move ahead to the next step. When you buy used video game consoles, most of these items will need a little extra cleaning. Taking a little extra time to clean your video game consoles can help them look more like new than ever before.

 

Best of all, cleaning video game consoles doesn’t require a lot of work. Unless you’re a technical expert, you won’t want to start unscrewing or opening anything. If you open your console and don’t know how to safely clean internal components, you might ruin it.

 

In most cases, being gentle with a clean and lint-free rag will work wonders or dirty video game consoles. For excess grime, lightly go over these spots with a disinfectant wipe. You can also use Q-tips to remove dust and dirt from hard-to-reach areas.

 

2. Always Check the Market Value of Video Game Consoles

 

As we mentioned earlier, the video game industry moves fast. Considering that, the last thing you want to do is spend all night making listings for your consoles to find that you underpriced them! Fortunately, by keeping an eye on market value websites, you won’t make this mistake.

 

3. Consider Selling Accessories

 

For many people, electronics aren’t worth much without a lot of accessories. Almost any electronic device depends on cables and other accessories to provide the most functionality. Fortunately for resellers, the video game market is no different.

 

One of the most popular gaming accessories is the controller. Whether it’s for a Sony or Nintendo system, every console needs a controller to operate properly. Even those who play games on computers or laptops often buy special types of mouses and keyboards to upgrade their experiences.

 

4. Pair Your Console Listings With Video Games

 

If you’re putting in the time and effort to learn about video game consoles, it’s also worth thinking about selling video games. If you’re having trouble selling only consoles, consider throwing in a few popular titles. Of course, you’ll want to ensure that the game or games in your listings pair with the system.

 

Also, make sure that you’re raising the value of your bundle accordingly. You wouldn’t want to accidentally sell a bundle for $200 when you have a console worth $150 and a rare game worth $200.

 

In conclusion, the popularity of video games doesn’t look to be going anywhere anytime soon. This popularity is great if you’re wanting to make money reselling video game consoles. If you’re looking for more tips on reselling popular electronics, check out our guide on how to flip cell phones for profit.

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Trade-In Tech
Find wholesale video game suppliers on www.tradeintech.com