Used Electronics items store idea :D

[Being.smart]

I was just browsing through sell thread of the TE, and it seems there are loads and loads of people who want to get rid of their 5-6 month used gadgets just to upgrade to something other

While, there are other lot of also people who want to crack deal with them, and satisfy their needs in budget

So, wouldn't it be a nice idea, to open a local shop, where other people can sell their used electronics items, while the needy people can also buy from here
Since the seller will be willing to get rid of product, we can get it at attractive price, and since the buyer will be enthusiastic, we can can earn handsome margin

Have your say on this topic

I find following loopholes in it
1) How to handle VAT
2) Handing chori ka maal
3) how to handle depreciation, S3 used today rate is 15k, tomorrow 12k

 

[vivek.krishnan]

The solution is called 'Renting out the gadgets' - @viditkalra

 

[Being.smart]

The solution is called 'Renting out the gadgets' - @viditkalra

i already know him personally

and i think he had already shut down the gates

 

[rdst_1]

I don't think you need to pay VAT since in case of both Indian and Imported products, VAT or any other tax is already paid. Since you are not issuing a new bill/receipt, you don't need to pay VAT again.

 

[vivek.krishnan]

If not VAT, then service tax, professional tax, sales tax.... the list keeps increasing. So - dont bother to start such a venture

 

[Being.smart]

If not VAT, then service tax, professional tax, sales tax.... the list keeps increasing. So - dont bother to start such a venture

Sales tax = VAT only,

 

[rdst_1]

If not VAT, then service tax, professional tax, sales tax.... the list keeps increasing. So - dont bother to start such a venture

No need to pay any tax other than income tax if dealing in used products as all taxes have already been paid.

 

[pr0ing]

Check CEX.
http://in.webuy.com/

Buying 2nd hand stuff from a shop where you do not know the earlier user definitely reduces the value of the item. As an example, in case of the 2nd hand car market a car owned by a Doctor or an older person will have a better resale value as compared to a youngster.

Doing this on a small scale can be possible as the shopkeeper can verify the items and can fix a price for individual items. Doing it on a large scale will be a problem as you cannot generalize a buy/sell pricelist based on usage.

 

[AsidXxx]

I've seen the prices for stuff on CEX and they are pretty high for second hand stuff, in some cases almost same as brand new retail.

They give pretty good prices for stuff you want to sell too which is why I don't understand their business model.