What’s one of the fastest-growing ways for people to spend their free time? By playing video games. For the past few decades, more and more people are experiencing everything that video games have to offer. There are even a lucky few who are able to earn millions by playing these games.
If you’re not one of those fortunate few who make a living playing video games, there’s still a great way to make a lot of money in this industry. That’s by buying and reselling video game consoles, games, and accessories.
You’ve come to the right place if you want to learn how to start and grow a business that resells video game consoles online. We’ve got a lot of helpful information to go over, including:
The most popular video game consoles
Video game accessories you’ll customers will love
Where to find video game consoles online
Tips to help you start making sales right away
What Are the Most Popular Video Game Consoles?
Before we get too in-depth, the first thing you’ll want to know is that most of your profits will come from video game consoles. If you’re not a gamer, that’s okay. A video game console is what’s needed to play a video game. Think of it like a computer and a computer game. Without a computer, the computer game can’t be played.
With that analogy out of the way, let’s learn more about the most popular video game consoles (in no particular order).
PlayStation 5 (Sony)
Many electronics resellers know Sony as a company that manufactures televisions. Video game fans know this company as the producer of the PlayStation. Believe it or not, Sony’s first-generation PlayStation video game consoles, debuted in North America in 1995!
Since the mid-90s, the PlayStation console’s grip on the video game industry hasn’t let up. Currently, gamers everywhere are playing Sony’s current-gen console, the Sony PlayStation 5.
One of the main reasons why the PlayStation 5 is so popular is due to its newly redesigned controller. This new controller is much more than just a few buttons or triggers. The PlayStation 5 controller features adaptive triggers, haptic feedback, and even a built-in microphone (no more headsets)!
The power of the PlayStation 5 brings gaming to life by offering up to 120 FPS (frames per second) and vivid colors on HDR televisions. With thousands of games available to play, especially since this video game console plays PlayStation 4 games, your customers will have a lot to enjoy by purchasing this console.
Unfortunately, many eager PS5 buyers have had to wait quite a while for a shot at getting the chance to buy this console. While Sony is working to fix this problem, it could be a while before the PlayStation 5 is widely available for purchase.
If you’re able to snag one or several of these video game consoles, it might be worth it to purchase them. According to Sony’s latest pricing, the PlayStation 5 currently costs either $399 or $499, depending on which version of this console you want. Unfortunately, since demand is much higher than the supply of these consoles, it’s not uncommon to see a new PS5 retailing for upwards of $700 to 800.
Nintendo Switch
As you’ll soon learn, Sony is far from the only popular gaming company on the market. One of this industry’s leaders remains the gaming company Nintendo. Originally launching in Japan, Nintendo originally made children’s toys. In the 1980s, this company would become one of the innovators of the video game industry.
Fast-forwarding to modern times, Nintendo’s best-selling video game console is called the Switch. The Nintendo Switch is a great console for gamers of all ages, especially younger players. That’s why the Nintendo Switch is also a great investment for families who want to have fun playing video games together.
Another reason for the Nintendo Switch’s popularity has to do with its many exclusive games. Nintendo isn’t only making video game consoles, they’re one of the most well-known game producers in this industry. Because of that, there are many video games made by Nintendo that only get released on this company’s consoles.
Xbox Series X and Series S (Microsoft)
Sony and Nintendo aren’t the only companies creating video game consoles every few years. Another one of the biggest names in the video games industry is Microsoft. While you might know this company as a maker of many home computers, this business also makes a lot of revenue from its Xbox console.
Unlike Nintendo and Sony, Microsoft showed up at the video game console party a little later with its first-generation Xbox. However, Microsoft’s Xbox has now steadily held a place in the list of the big three console makers, alongside Sony and Nintendo.
The current Microsoft consoles that everyone wants are the Xbox Series S and the Xbox Series X. On paper, these two gaming consoles don’t sound different from one another.
When comparing the Series S and Series X, the former is the base console. But don’t think this means that the Xbox Series S is short on power. This video game console is capable of running games at up to 120 FPS.
The Xbox Series X ramps up this console’s power for even higher graphical clarity. The Series X is perfect for customers that want 4K graphics with an up to 8K high dynamic range.
Gaming PCs and Laptops
Not everyone is playing video games on special consoles. Many of the world’s gamers prefer one of the original ways to play games: the home computer. The processing power of many new or like-new computers makes it easy for these devices to play some of the most popular video games on the market.
Something else in this realm that’s also worth mentioning is the wide range of gaming PCs and laptops. Instead of being used primarily for accessing the Internet or working, gaming computers provide maximum power to play the latest games with a stunning level of quality.
If your customers specifically want gaming PCs, look for computers from Alienware, Republic of Gamers, and Predator (to name a few).
VR Gaming Headsets
Welcome to the Metaverse! That’s what many people are saying since Meta’s Oculus VR gaming headset has risen in popularity. Chances are, you’ve been seeing at least a few (or a million) advertisements for VR headsets. You might even have one of your own!
While the Oculus Quest is incredibly popular and connected with the Metaverse, it’s far from the only VR headset on the market. Many consumers are also raving about the Valve Index, an incredibly popular VR gaming headset that is designed to work with the Steam gaming platform.
Not wanting to miss out on a popular trend, Sony has even entered the VR world with its PlayStation VR headset. As you can imagine, this headset is only able to work with the PlayStation video game console.
You don’t have to look far to see people of nearly all ages enjoying VR headsets. If you can find these items for sale online, it’s worth having VR gaming headsets in your company’s inventory.
The Most Popular Video Game Accessories
As mentioned earlier, consoles and games are only two parts of what’s needed to really enjoy a great game. Enter the world of video game-related accessories. Let us give you a quick walkthrough of some of the most in-demand accessories that every gamer wants or needs.
Video Games
A video game console can’t offer the most fun unless the people using it also have games for these items. These days, most video game consoles have hundreds of games for people to enjoy.
But, with so many video games on the market, how do you know what you should start buying and reselling? One of the best ways to answer this question is by checking out video game best-seller lists. In time, you could also receive requests for certain games or types of games from your customers.
When you’re just getting started, it’s always the best thing to have the most popular or newest games in your store. Sometimes, you’ll luck out and the newest and most popular games will be the same title. Carry the right games and watch your business grow.
Have a lot of customers who prefer digital gaming? A popular add-on item to consider would be digital gift codes for their favorite gaming service. Popular gaming services like Steam, Origin, and others offer libraries of digital-only games to their customers.
Controllers
What’s better than playing a game by yourself? Enjoying a game with one or a few friends! But, before you can do that, you’re going to need extra video game controllers. With that in mind, you’ll definitely want to have plenty of video game controllers to pair with the consoles and games you’re selling.
Each video game console will have corresponding controllers made for use with these systems. For example, a Sony controller would only work with the PlayStation. A Switch controller would only work on the Nintendo Switch. With many of the previously mentioned consoles having up to four controller ports, you can make a lot of profits from selling controller bundles.
Extra Cables and Cords
Video game technology has come a long way. However, many gamers still have to hook up several types of cables to begin their gaming experiences. Unfortunately, as you might know, it’s tough to keep track of every power or AV cord you own. That’s why it’s a good idea to have replacement cords in your inventory.
There really isn’t a huge profit margin on cables and wires. However, the person that buys these items from you will probably be glad that you had them in stock!
Headsets
Part of what makes gaming such a popular experience is how well people are able to communicate with each other during this time. One of the main things making this communication possible is the gaming headsets.
Many companies make headsets for gamers, ranging from beginner setups to more high-quality (and costlier) headsets. Some of the most popular gaming headset brands are Logitech, Razer, Bose, EPOS, and SteelSeries.
Finding these popular gaming headsets will give your customers the sound they’re looking for while enjoying their favorite video game titles.
Hard Drives
As video games continue to evolve, it takes more data to create them. This is reflected in the larger file sizes of modern video games. In the 1980s and 1990s, entire video games were measured in kilobytes and stored on small chips.
Nowadays, it takes much more data to play and store games. While the multi-gigabyte storage space that modern consoles offer sounds great, it’s easy for these items to run out of memory in a short time. This is why it’s a great idea to carry hard drives for video game consoles in your company’s physical or online store.
By using hard drives, your customers can enjoy all of their favorite games without having to delete anything.
Where Can I Find Video Game Consoles for Sale Online?
By this point, you should be getting ready to start buying video game-related items. Before you start making any orders, you’ll need to know where to find video game consoles, games, and accessories online. Fear not, we got you covered. Here are the best places to find video game consoles and accessories for sale.
Trade-In Tech
If you need to find lots of video game consoles at great prices, check out Trade-In Tech. Trade-In Tech began in 2012 as a platform for electronics wholesalers. Since this time, Trade-In has continued to grow into your one-stop-shop for all sorts of wholesale electronics (including video game consoles).
Instead of selling items for high retail costs, all item listings get created by our members. This means that you have professionals throughout the electronics industry pricing their items to sell. By using Trade-In Tech, you can start finding incredible bargains on large quantities of video games and game consoles.
If you can’t find what you’re looking for on Trade-In Tech, which is rare, you can always create a buyer’s request. What’s a buyer’s request? We’re glad you asked. A buyer’s request is a feature only available to members of Trade-In Tech. This request allows a member on our platform to send out a request to our worldwide network of members.
After joining Trade-In Tech, you’ll also get to create your very own member’s page. This page is where you can connect with other members, post updates about your inventory, and much more. You can also follow other members’ pages to stay connected with what they’re up to.
When shopping for items online, the elephant in the room is the threat of potential scammers. Unfortunately, these people are often found on popular websites like eBay, Craigslist, and others. However, you shouldn’t worry about running into scammers on Trade-In Tech. That’s because we use a verification system to help make sure that no scammers use our platform.
Take a closer look at everything Trade-In Tech has to offer by checking out our marketplace. We look forward to welcoming you aboard our amazing platform. You’ll find lots of popular electronics for sale on Trade-In Tech.
eBay
It should come as no surprise that one of the biggest e-commerce websites on the internet can be a good place to find all things related to video games. When you’re using eBay, keep in mind that you can find out the ratings of each seller and buyer. Use these ratings to make sure you’re buying electronics from someone you can trust.
Since eBay is such a popular platform, you’ll need to do some digging to find what you’re looking for. With eBay being a popular auction website, you might also need to spend some time watching listings and being available to make those last-minute bids.
On the other hand, you could also encounter lots of listings from sellers who are trying to charge far too much for what they’re selling. It’s recommended that you avoid these sellers unless you absolutely must buy something from them. More often than not, you’ll be paying retail costs to get your hands on what they have to offer.
Social Media
Some of the best deals on video game consoles and other related items can be found on social media. Many popular social media websites like Meta and Instagram now offer ways for their users to buy what they’re browsing for.
With enough of a following or through the use of popular hashtags, social media can also be a great platform to sell items you already bought. So, make sure that you’re always keeping your audience informed of what your business is selling.
As you might imagine, you certainly won’t be the only business selling items through social media. However, don’t let that discourage you from getting started on these platforms. Stay active on social media, create engaging posts, and your accounts could soon be social media juggernauts.
Shopping Locally (Small Shops and Garage Sales)
Consider yourself a bargain hunter? Maybe you enjoy doing a little hunting to find rare video games, consoles, and deals? If you answered yes to the previous questions, think about finding inventory by looking locally. Checking out yard sales, garage sales, and shops in your area could yield many amazing surprises.
With that said, one of the main disadvantages of this strategy is that you rarely know what’s going to be available ahead of time. If you’re already pressed for time, driving around your city looking for something to buy might not be the best option.
However, if you have the time, checking locally for video game consoles, accessories, and games could lead to you uncovering some amazing deals. This is something that many people who flip electronics love doing.
GameStop
If we’re going to discuss where to find video games online, it’s impossible to not mention GameStop. Amazingly, GameStop began all the way back in 1984 in the state of Texas. If you want to find video game consoles and accessories, there are pros and cons of buying items from GameStop.
One of the main advantages of GameStop is that this business is a massive retailer. This means it’s often possible to find decent deals on used video games and consoles. You’re not likely to get any great deals on brand new consoles, since GameStop typically charges retail prices for new items.
At the end of the day, GameStop is a retailer that needs to make money. We wouldn’t recommend finding all of your items from this retailer. However, it could be worth spending some time seeing what your local GameStop has to offer.
Tips Every Video Game Console Reseller Should Know
We’ve covered quite a few topics in this article. With that said, we’d hate to wrap things up without giving you a few great tips that you can start applying now. When you’re ready to start buying and reselling video games, make sure to follow the tips below.
Offer Bundles to Make Things Easy for Your Customers
If you’re like most people, your life moves at an extremely quick pace. With so much to do during any given day, many individuals are looking to save time wherever they can. If you want to offer an easy shopping experience for your customers, consider offering them bundles.
If you didn’t know, a bundle is just another way of describing a group of items. Sometimes, sellers list bundles for a lower price than a buyer would spend if they were to purchase each item in a bundle separately. But whether or not you want to offer cheaper pricing for bundles is up to you.
So, what does a typical video game bundle look like? That’s another great thing about bundles, you hold the power to choose what you’d like to bundle. You can offer a smaller bundle with a video game console and a couple of controllers. Or, you can create something with a console, games, and accessories!
Stay Informed About the Video Games Industry
One of the best things you can do in this industry is also one of the easiest, which is to keep up with video game-related news. No, this doesn’t mean giving up all (or even much) of your free time to achieve this goal.
All you need to do is have a few legit websites bookmarked or otherwise saved that cover the video game industry. A few popular websites that cover this industry include Kotaku, IGN, and Game Informer.
Don’t have much of an interest in keeping up with the world of video games? It might be time to reach out to family or friends that consider themselves gamers. Chances are, these people can and will happily tell you all about upcoming video games and consoles.
The goal of all of this research has to do with making sure you have video games and consoles that people want. And, considering how fast this industry moves, keeping up with video game news might be the thing that helps you snag those popular items before your competitors do.
Watch Out for Rare Items
No matter what industry you work in, you’re bound to encounter collectors. This rule definitely applies to the world of video games. There are many video game collectors, and most of them are willing to pay top dollar for rare video games or consoles.
As it is with just about any old item, their condition is an incredibly important factor. Someone might be willing to pay thousands of dollars for a rare video game. However, this might not apply if the rare video game is in terrible condition.
One minor drawback is that certain video game sellers also know the value of what they’re listing. These sellers will list their items for as much as they can get, making it tough for you to make a profit. However, stay on the lookout for those diamonds in the rough.
With enough time and effort, you could find those few rare items that most video game resellers would love to have. Reach the right people or companies and you could earn a hefty profit from these rare finds.
Know the Value of What You’re Buying and Selling
For some people, this tip might seem a little obvious. However, we can’t stress the importance of learning the values of what you buy and sell. If you spend too much money buying items, you’ll have a hard time finding someone willing to pay what you need to make a profit. If you sell your items at too low of a cost, this can also create similar problems.
Fortunately, it’s fairly easy to find the values of just about anything in the realm of video games with a quick online search. Another great way to find out how much to price items for is by looking at how much others sell the same items.
With enough time and effort, you’ll soon start being able to price many items in your head. Just make sure that you regularly check online price guides and sold listings, as the value of certain video game-related items can vary with time.
Stay Active During Popular Sales Times
Every year, there are certain times when people are more willing to spend money than others. I’m sure that you can think of a few of those times, like Black Friday and the holiday season. If you stay active during these busy shopping times, you could make a ton of extra sales.
Prepare for these seasons ahead of time by working on posting lots of content now. If you do things right, you should have a decently sized audience waiting to read about your company’s upcoming sales.
Consider Partnering with a Professional Repairperson
As you continue looking for video game consoles and accessories to buy, you’re likely to run into broken items. It makes sense why someone wouldn’t want to keep video game consoles or games that no longer work. When you see these listings, it’s understandable to wonder who would want broken items.
If you can strike up a partnership with a person or company that’s good at repairing consoles and games, your business would want to start purchasing broken items. In most cases, you’re not going to spend much money to purchase broken electronics. If you or someone you know can fix these damaged goods, you can resell them for a sizable profit!
To make things a little clearer, let’s use an example. Let’s say that you found 10 broken or otherwise non-working video game consoles for a total of $100. This means you would pay $10 per console.
Next, you take your broken consoles to a repairperson who charges you a total of $100 for their services. Boom, you now have 10 working video game consoles to resell. If you were to sell all 10 for $100 each, you’d make about $800 in overall profit!
Once you find a system that works for you, it’s easy to repeat that same system and scale it up as you continue working. While you might start out with only a few consoles in your inventory, this could soon change. Soon, you might be making lots of money by selling hundreds or even thousands of electronics each month!
Don’t Throw Away Any Boxes or Manuals
An almost unavoidable part of life is ordering things that arrive with both boxes and instruction manuals. If you’re like most people, you toss out those manuals and boxes as soon as you get your items. But, when it comes to video games, this isn’t something you want to do as a reseller.
Many video game fans place immense value on items that are CIB (complete in box). This is another way of saying to make sure that a video game or console comes with all of its “extra pieces.” Unless the buyer specifically tells you not to, always include boxes and manuals.
Wrapping things up, reselling video game consoles can be a great way to earn a living. There are many popular types of electronics on the market. If you’d like to learn more about succeeding in this industry, make sure to check out our blog. Trade-In Tech’s electronics blog features how-to guides, case studies, and other content designed to help your business thrive.