A resale business builds up stock the same way any wardrobe does — piece by piece, over months, spread across a spare room, a rack, a few plastic tubs. It's easy to know roughly what you've got. It's much harder to prove it, especially once a listing's been sold, relisted, or sat in storage long enough that you've genuinely forgotten what's in the tub.
Why stock records matter more than most resellers realise
If stock is lost to fire, flood or theft, insurers and, if it's a registered business, the tax office both want the same thing: a real record of what you had, what it cost you, and roughly what it was worth. A guess based on memory doesn't hold up either way.
It also matters day to day — knowing your actual current stock value helps you price, helps you know if you're properly insured, and saves the headache of trying to reconstruct months of buying and selling from memory at tax time.
What's worth keeping on record
- A photo of higher-value stock as it comes in, with a rough purchase price
- Brand and condition notes for anything you'd struggle to describe from memory later
- A running sense of total stock value, updated as you buy and sell
- Records kept somewhere other than the same space the stock is stored
Where My Asset Mate comes in
My Asset Mate's Clothing & Accessories category lets you log stock properly — photos, cost, condition — kept safely on your phone, and in the cloud too if you choose. It's a Premium category, and every account gets a free one-month Premium trial to see if it's worth it for your stock.
If the worst happens, or tax time rolls around, you're not trying to remember what was in which tub. You open the app, and it's there.
Reselling is a business. Treating your inventory like one pays off eventually.