In our New Years Goals for 2017, a big one is to start scavenging higher dollar items. But this is easier said than done. We went to a fancy auction this week to try out our new strategy. Can we buy items for $50+ that will sell for $200+? This is much different from our current strategy of buying for $1 and selling for $30.
First, we have to find a place that sells more expensive inventory since our local thrift store and garage sale usually only sells items below a certain threshold. Then we have to determine if paying $50 for an item means we can sell it for a significantly higher cost. Then we have to make sure we can be patient enough for that item to sell if it’s not a quick seller. Can we handle holding onto those inventory costs for as long as we usually do? You can listen here to find out how we did at the auction.
Here are the forum conversations we mentioned in this podcast:
–If another seller copies your description and photos, use VERO to take down seller’s copying you
–Would you give a seller a defect in this case?
—Creating a “Sale Event” and using Markdown Manager
–We noticed some scavengers met up in Indiana. Sometimes its just fun to go scavenging together and have a coffee
We had a great week on eBay. Wish it was like this all year.
Our Store Week January 22-28, 2017
Total Items in Store: 5384
Items Sold: 66
Cost of Items Sold: $260
Total Sales: $2,303.17
Highest Price Sold: $150 (vintage military jacket)
Average Price Sold: $34.89
Money Spent on New Inventory This Week: $250
Number of items listed this week: 75
Sold 1 items for $?
Total Items in Store: 983
Items Sold: 4
Cost of Items Sold: $4
Total Sales: $138.01
Highest Price Sold: $70 (Vintage military pants)
Average Price Sold: $34.50
Number of items listed this week: 20