In Kenya, the second-hand market is a booming and fast-growing industry that covers a lot of sectors. It includes used cars, used home appliances and electronics, used clothes, etc. By the end of this writing, we are going to cover a couple if not most of the frequently asked questions for selling second-hand items by Kenyans.
The questions are going to be based on a situation where a Kenyan sells an item to another Kenyan.
Table of Contents
Q: Is it legal to sell second-hand items?
A: Yes! It is legal to sell used household goods in Kenya. In fact, it has been encouraged and is being promoted by the government of Kenya. The government has gone as far as saying that they want all the citizens of Kenya to participate in this industry because it will help create jobs, boost the economy and also help clean up the environment. So, if you are going to be involved in this industry, you can rest assured that you will not have any problem with law enforcement agencies.
Q: What is the right price for second-hand items?
A: The value for second-hand items is determined by the market demand. This means that if a lot of people want a certain item and they are willing to pay a high price for it, then you can sell it at a higher amount. On the other hand, if no one is interested in an item and they are not willing to pay more than a particular amount for it, then you should settle for a reasonable figure.
The right place to start when determining the right asking price for your item is to check out what your competitors are asking for similar items. If their asking prices are reasonable, then you can also set yours at that level or even slightly lower than theirs. If you want to sell your items quickly, then you should set your asking fee slightly lower than the market average.
Q: Do I have to pay tax on my profits?
A: You do not have to pay tax on the profits you make from selling pre-owned items. However, there is a 10% commission paid on items sold by Corido Marketplace agents that you should be aware of while seeking the help of that service.
Q: What are the payment options when using the Corido service?
A: You can make your payments using cash, or through a money transfer service like Mpesa. If you choose to use any of these payment methods, make sure that your items have already been seen, confirmed, or liaise with the company agents before making the payment.
In addition to the above-mentioned payment options, there is also a pay-on-delivery as a possible option. However, it is only available for some select clients.
Q: How can I sell my furniture instantly?
A: If you want to sell your furniture instantly, then you can take advantage of the Corido Marketplace. This is a platform that connects people who want to buy used assets and those who have them for sale.
If you are a seller, then you can register on the Corido Marketplace website and list your households for sale. When someone places an order for your item, the company will contact you for further arrangements. Your item will be picked up by one of its representatives who will come and inspect it before taking it to their warehouse in Nairobi where it will be sold.
If your item is in good condition and has been valued fairly, then you can expect a sale within a few days or even a couple of hours.
Q: How can I sell my furniture online?
A: If you want to sell any of your pre-owned assets online, then you can do so by getting a website that sells used household goods. You can then post pictures of your items on the website and get them listed for sale.
You will be required to set a price for each product, as well as provide detailed descriptions of their features and any specific conditions they may have. When someone places an order for one or more of your assets, the company for this case Corido will contact you with further instructions on how to proceed with the transaction.
Q: How can I find furniture?
A: The first step to finding good furniture is to do your research. If you are looking for a specific item then there are several websites that furnish classifieds and auction sites where you can search the sellers around Nairobi or in Kenya and place an order for the said piece. I do recommend Corido Marketplace because of their business model where they assign an agent to help you find household items with ease. Other platforms such as Facebook offer a wide range of services to help you find assets around Nairobi as well as second-hand stores located in your area of residence.
Tony’s buying and selling of second-hand items Nairobi