Legal question

[Cirion]

Is it illegal to buy something then sell it for profit, like i buy shoes for $30 dollars in a sale and then sell them for their non sale price of $60 at my own online store, is that legal, im just trying to get ideas of how to start out small.

[GuyBBY]

I am not a lawyer, but I think this simply and issue of "market value vs cost" in an accounting/business standpoint.

In accounting, if a business buys 20,000 computers from a going out of business sale for $1 each, the cash out flow was $20,000. The value of those computers to the seller was $1, to get them out the door and off the inventory quickly.

If that business who owns them now, sees that there is a shortage of computers world wide and their value has just gone up to $100,000 a piece, they can sell them for that as the market has expressed a need for them and dictates what they will and will not pay for them.

I know it was a round about way to answer the question but really it is all about what people are willing to pay that dictates your prices.

If, however, you do this without tact or abuse it, and your buyers find out they can get the shoes where you are getting them from and they see you are hosing them, well right there for $30 saving per pair, you have cost yourself Customer Lifetime Value for the years to come.

Guy

[JohnnyBudZ]

It depends on where you live, for instance.. a law that is well known would be the "scalpers law" In 48 out of 50 states it is NOT legal to sell tickets for more then $3 or 10% more then the face value. Believe it or not laws apply to retail aswell (people just arent familiar with them). So It's prob not illegal...but you might piss some people off when they find out where you obtained them lol. (like guybby said)

[HarveyJ]

Laws change depending on the area.
As such, legal questions are impossible to field correctly unless we know which country and province you live in.