We had a good, solid week of sales. A completely unglamorous week, but these are the weeks that make us a living.
We get regular emails from sellers who ask us about items they find. The person tells us how special the item is and how they can’t find it anywhere online. It’s so special that they can’t figure how much to price it. They don’t want to list it because they might undervalue it and miss out on unknown riches. Paralysis sets in.
Here’s what we always tell these sellers. Being too precious about anything is one of the worst mistakes we can make. First, do the research. Rarely is there ever not something online to tell you how valuable an item is. And if there is absolutely nothing online, it could mean that it’s not that valuable. Sought after items are spoken about at length on the internet.
Second, you can always take it to someone who might know more. But when we do this, we think of it as an adventure. A fun way to do research. Questions are usually always free to ask. Paying for appraisals doesn’t make sense to us.
Third, sometimes rare items just aren’t worth much. It may be rare or even one-of-a-kind, but that doesn’t automatically mean it’s valuable. Someone has to want it.
Ultimately, we can’t be paralyzed by indecision. We just have to list it. If we’re unsure, we put a high price with “make offer” see what kind of offers people send in. For every item we may have undervalued, we’ve sold 100 items for double what normal sellers might have made on the same items. The key is never be too precious about anything after doing the research.
In this episode, we mentioned the following links:
- We finally switched over to the new eBay Seller Hub. Things are in different places, but it’s pretty much the same. Cleaner layout.
- We signed up for a new eBay competitor, Vangoe.com. We’re trying them out because they have an importer that automatically pulls in all our eBay listings like Bonanza does. The site’s owner, Jeff, is responsive and looking for feedback.
- We posted another episode over at Shampoo & Booze if you want to hear how we’re learning to run a vacation rental business.
Hope you had a good week.
Our Store Week January 3-9, 2016
- Store #1
- Total Items in Store: 3895
- Items Sold: 22
- Cost of Items Sold: $303
- Total Sales: $1,426.43
- Highest Price Sold: $300 (AA book)
- Average Price Sold: $64.81
- International Sales: 1 GSP
- Returns: 1
- Money Spent on New Inventory This Week: $20
- Number of items listed this week: 20
- Store #2
- Total Items in Store: 879
- Items Sold: 7
- Cost of Items Sold: $15
- Total Sales: $528.96
- Highest Price Sold: $300 (Lot of brass hinges)
- Average Price Sold: $91.79
- International Sales: 2 GSP
- Returns: 0
- Number of items listed this week: 34