Buying and Selling PSP's on EBay

I have been buying and selling Sony PSP Consoles successfully on EBay for several months now. Simply purchasing broken and faulty PlayStation Portables, finding the problem, fixing the problem and then selling them on as working consoles.

There is an opportunity to make some money doing this, now you are not going to become a millionaire but a small amount of money extra coming in, can be a big help especially in this so called recession. At times I have bought a faulty PSP for as little as £12.50 and sold it as high as £65, sounds good but if you are selling on EBay you have certain fees and of course you will need to pay out for parts in order to fix the problem.

As for selling on EBay the fees include, a small fee for listing it on there auction site, they then take a 10% cut of your final selling price (This is based on the UK version). So if you sell your Sony PlayStation Portable for £60 (not including post and packaging) EBay will charge you a £6 final selling fee.

There are other fees to take into consideration as well, I always use Pay pal as it is the easiest and safest way. If you sell your item and the buyer pays via Pay pal, Pay pal will charge a small amount for the privilege. In fairness this is well worth it as you know that your item has been paid for as it goes direct into your account, so you can then post it out to the said buyer. This then leads us onto the cost of posting, which can vary depending on size, weight and location. You also need your packaging materials like bubble wrap, parcel paper and tape.

As to the repairing of the faulty or broken PSP, depending on the problem you could spend anywhere between £2.99 up to £35 on any one part in order to fix a PSP and then sometimes you may need more than one part. The most common repair I have come across is replacing the LCD screen, these can easily be broken by either dropping or sitting on the console. A screen for an original 1000 series PSP would cost about £15, whereas for a Slim & Lite 2000 series PSP the screen would cost more like £35. These are a straightforward repair and could be done within 15 minutes. Other common repairs are broken UMD doors or missing analog caps which are both very simple fixes or a faulty UMD drive which takes a bit more time, as in you have to investigate the problem by testing and cleaning and if not resolved removing and replacing the UMD drive itself.

So you need to write down and keep a track of all your costs in order to know what you need to sell your PSP for in order to make a decent profit per item. When looking for faulty PlayStation Portables on EBay, always check the product description to see what the fault is then research how much it could cost to repair. With this in mind you will then know a figure in which you are willing to bid up to but not beyond in order for you to make a profit. Please bear in mind though that when you receive your item there may be further faults that where not mentioned on the original auction listing.

Now when it comes to selling especially on an auction website you are by no means guaranteed to get the price you want, you run the risk so to speak. You can set a reserve price so it does not sell below a certain price but EBay does charge you a small fee for having this. You may find that you may only make £5 - £10 profit per console, which does not sound like a lot, but as you get more experienced you could then be able to turnover a higher amount therefore making yourself a decent bit of spending money.

Hope you have enjoyed this post, within it there are positives and negatives as to buying and selling on EBay, I did not want to come across as saying that buying and selling PSP's is easy and if you buy as faulty PSP, repair it and then sell it you can make a load of money. There are pitfalls as with everything in life, some repairs are simple, some are not. Repairing consoles and gadgets is not for everyone, you have got to want to do it.