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Started By
Message
anybody buy goods from china to resell?
Posted on 9/22/15 at 7:56 am
Posted on 9/22/15 at 7:56 am
Looking around on alibaba, it seems that there are alot of deals to be made on industrial equipment. just wondering what kind of tariffs or extra taxes you have to deal with when purchasing and reselling goods from china?
5
Posted on 9/22/15 at 9:09 am to diat150
If it was that easy, everyone would be doing it.
In all seriousness, i have no idea, and would be curious to hear opinions as well.
In all seriousness, i have no idea, and would be curious to hear opinions as well.
This post was edited on 9/22/15 at 9:10 am
Posted on 9/22/15 at 9:25 am to diat150
A couple of years a go I spent a considerable amount of time looking in to a few seasonal products to redistribute. I decided to start small and test run one product. I negotiated the price after several email exchanges with the factory rep(which can be difficult depending on the written English capabilities of that person) and had the products delivered as promised....Literally the slow boat from China. In the end, I just decided it was too much work to do on the side for the nominal returns. It would've taken some scaling and a real time investment to be worth my time.
There's some good forums out there discussing the process and many folks who have done very well with it. I just couldn't put my finger on an idea that would generate the kind of returns I needed to invest my free time doing it.
There's some good forums out there discussing the process and many folks who have done very well with it. I just couldn't put my finger on an idea that would generate the kind of returns I needed to invest my free time doing it.
Posted on 9/22/15 at 9:32 am to LSUAfro
True story:
A friend of mine from law school's brother got into the Chinese resale market buying all types of random stuff like mannequins. He got into some trouble when a buyer came to his house and saw a human skull boiling on the oven (which he had bought for resale).buyer thought he was a serial killer or something.
Anywho, the brother eventually moved to China and manufactures sex toys.
A friend of mine from law school's brother got into the Chinese resale market buying all types of random stuff like mannequins. He got into some trouble when a buyer came to his house and saw a human skull boiling on the oven (which he had bought for resale).buyer thought he was a serial killer or something.
Anywho, the brother eventually moved to China and manufactures sex toys.
This post was edited on 9/22/15 at 9:33 am
Posted on 9/22/15 at 9:58 am to Teddy Ruxpin
quote:
A friend of mine from law school's brother got into the Chinese resale market buying all types of random stuff like mannequins. He got into some trouble when a buyer came to his house and saw a human skull boiling on the oven (which he had bought for resale).buyer thought he was a serial killer or something.
Anywho, the brother eventually moved to China and manufactures sex toys.
Yeah....That wasn't the path I was on
. It does present interesting opportunities by putting a potential buyer in direct contact with a low cost manufacturer.
Posted on 9/22/15 at 9:58 am to diat150
I import about 40 containers a year from China, Taiwan, EL Salvador and India. Your best bet is to contact a customs broker in the States and ask them some questions. We use WR Zanes in New Orleans and they are very helpful. They can tell you what you would have to pay as far as freight, tariffs and such. It all depends on what you bring in.
I import product for resell from factories that we have close relationships with. I would be wary of industrial equipment from China though. You get what you pay for. I bought a couple band sealers from there and one lasted about 4 years and the other less than a year. Good luck.
I import product for resell from factories that we have close relationships with. I would be wary of industrial equipment from China though. You get what you pay for. I bought a couple band sealers from there and one lasted about 4 years and the other less than a year. Good luck.
Posted on 9/22/15 at 10:54 am to diat150
Many items on alibaba are counterfeit. Big business in China when a worker from a legitimate company can steal the mold and sell it to counterfeiter.
Posted on 9/22/15 at 11:09 am to TigerRob20
quote:I think if you grab your gonads and try it, you'd find out that it's very easy. No greater teacher than experience. I've been looking on Alibaba myself. Just can't quite seem to find the right fit. I've also noticed that you can often buy the same thing on Ebay - one piece at a time - for the same price as Alibaba vendors with minimum order quantities. Hmmmm. I think some horse-trading skills would come in handy.
If it was that easy, everyone would be doing it.
Posted on 9/22/15 at 2:51 pm to tigerpawl
quote:
I've also noticed that you can often buy the same thing on Ebay - one piece at a time
I looked at that but the same piece on ebay is $15. On alibaba it is $5. A similar part might sell for $50 from a US distributor. With that said if the shipping and tariffs dont add much to the price of each unit, it would be worth it to use alibaba.
Posted on 9/22/15 at 3:20 pm to diat150
quote:
I looked at that but the same piece on ebay is $15. On alibaba it is $5. A similar part might sell for $50 from a US distributor. With that said if the shipping and tariffs dont add much to the price of each unit, it would be worth it to use alibaba.
Would you not then also have to pay tax on the revenues you made?
Posted on 9/22/15 at 3:46 pm to diat150
A general rule of thumb I use is max of 15% to cover shipping and fees. But again, it all depends on the product to determine the tariff rate. Also, we import in full containers which makes our shipping cost lower than LTCL or consolidation.
Also be aware that if you do import full containers, it can be randomly pulled for inspection and you have to pay for it. That could be anywhere from $500-$2000 per container.
Also be aware that if you do import full containers, it can be randomly pulled for inspection and you have to pay for it. That could be anywhere from $500-$2000 per container.
Posted on 9/22/15 at 3:54 pm to diat150
We've been importing from China for over 15 years. You just need to be careful from who you buy from. It doesn't matter what their rating is on alibaba, they can still screw you over.
We always try to get our terms 30% down 50% on BOL and 20% 10 days after we receive our container.
When finding a supplier I always ask for references from the US and I always call them.
We always try to get our terms 30% down 50% on BOL and 20% 10 days after we receive our container.
When finding a supplier I always ask for references from the US and I always call them.
Posted on 9/22/15 at 4:10 pm to MrLarson
Yup, very good advice. We have an agent in China now that visits potential factories and we pay him a commission for that and also to consolidate items from different factories. That helps a lot.
Posted on 9/22/15 at 4:17 pm to deaconjones35
quote:
A general rule of thumb I use is max of 15% to cover shipping and fees
Ours has been running anywhere between 16%-21%. This will also vary greatly on your location. Since we are inland we have a good bit of rail freight.
If you have to approve any drawings for the items you order you better put in your work on them. They will make the items EXACTLY how the drawings are and will hold you to your mistakes.
Posted on 9/22/15 at 8:39 pm to MrLarson
Im not ordering anything extremely large or very large amounts of volume. I believe I would be able to use air freight. I saw fedex offers a service to take care of all of this but havent had a chance to call them yet.
Posted on 9/23/15 at 8:44 am to diat150
I sold four wheelers and dirtbikes before Christmas a couple of ears ago and made a decent profit.
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