We recently asked listeners to share their "manifestos" on the blog so sellers could share the different strategies they use to run their eBay stores. You can scroll through them in the comment section here.
Lots of great ideas were shared, but we especially loved what Tim Snoper shared. He said that being a scavenger is all about being an "opportunist". To us, this means setting up your lifestyle so you can run into the great finds that are always out there if you look for them. It's about creating your own luck. This can mean running a full-time eBay store so you have time to always be scavenging when you're out of the house. We've found amazing items at random yard sales that we've just happened to drive by because we had the freedom of our time. We also love that we can go to any auction we want to because it's our job.
Or it can mean making sure you visit thrift stores on your lunch break. A worker at your local thrift store could be placing an extremely valuable item on the shelf right now! Just making time to stop in and check to see if there's anything new each day is a great way to improve your chances to find good items.
Here are the links we mentioned in the podcast:
--Pinterest is starting a new program for "buyable pins". It's unclear who will be able to sell items, but it's smart.
--The last factory on the planet that makes VCR's has closed down. To us, this means it'd be smart to start buying up any VCR you see for cheap. It's not uncommon to see them for $1 at yard sales. If you have the storage, who knows when they'll start having value since they'll never be made again.
--eBay updated their mobile phone app on iPhone and Android. Has anyone used it yet? Worth updating?
--One of our listeners, MyCottage, said some sellers can created "codeless coupons" to send to select groups of people. Never used this feature before, but might be cool.
Hope you guys had a good week.
Our Store Week July 24-30, 2016
- Store #1
- Total Items in Store: 3911
- Items Sold: 20
- Cost of Items Sold: $375
- Total Sales: $1,200.87
- Highest Price Sold: $500 (Autographed photo)
- Average Price Sold: $60.04
- Returns: 0
- Money Spent on New Inventory This Week: $30
- Number of items listed this week: 50
- Amazon FBA Store
- Number of items sold: 10
- Amazon total sales: $323.31
- Amazon FBA Fees: $75.58
- COGS (shipment to FBA included): $20
- Net profit after COGS: $227.73 ----------
- Store #2
- Total Items in Store: 1128
- Items Sold: 9
- Cost of Items Sold: $32
- Total Sales: $361.45
- Highest Price Sold: $100 (Vintage wool prayer rug)
- Average Price Sold: $40.16
- Returns: 0
- Number of items listed this week: 0