CNBC Selling Used Clothes

What was the profit margin on the vintage Abercrombie & Fitch jacket the seller purchased?

• $10 profit

• $50 profit

• $90 profit

• $150 profit

How much revenue did Rick bring in last year from selling pre-owned clothing?

• $5.4 million

• $6.5 million

• $2.5 million

• $1 million

What event inspired Rick to start his reselling business?

• He found a valuable item at a flea market.

• His phone broke, and he resold a replacement for a profit.

• He inherited a large collection of vintage clothing.

• He was laid off from his job and needed income.

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At the peak of his eBay business, how many items did Rick sell per year and what was the annual revenue?

• 100,000 items, $2.5 million

• 50,000 items, $1 million

• 25,000 items, $500,000

• 75,000 items, $1.5 million

What is a common indicator that a Bape hoodie is fake?

• It has a sloppy logo.

• It lacks a tag and uses sublimation printing.

• It is made of cheap material.

• It is sold at a low price.

How did Rick's business model evolve to achieve $6.5 million in annual sales?

• He started selling directly to individual customers online.

• He expanded his physical store locations.

• He transitioned to a wholesale model, selling to other resellers.

• He began manufacturing his own clothing lines.

What is the approximate retail value of an Alexander McQueen dress that Rick purchased for $10?

• $100

• $500

• $1,000

• $5,000

What environmental benefit does Rick's business provide by acquiring discarded items?

• It promotes fast fashion trends.

• It increases the demand for new clothing production.

• It prevents valuable items from ending up in landfills.

• It encourages consumers to buy more clothes.