The big sale for us was a silver plated flute I purchased at a yard sale for $10. I took it to a musical instrument repair shop to have it serviced. Turns out it cost $150 to get it working, but it sold immediately for $250. It wasn’t as valuable as I thought and cost more to repair than I expected.
We’ve done these kinds of experiments before where we’ve invested in the professional repair or cleaning of an item we think will sell for “big money”. One time we had a watch fixed for a couple hundred dollars and it sold for $900. But it’s rare we invest so much into an item. Usually we just dust it off and list.
With the flute, I wanted to learn more about musical instruments since I sometimes see them at auctions and yard sales. The repair person told me that these days parents just buy the cheap Chinese-made instruments on Amazon for $50 that can’t be repaired. It’s becoming more rare to find the well-made, generational instruments of years past. This is why so few repair shops exist that work on instruments.
Otherwise, we had a quiet week. We accepted offers on two items for $250 total that were never paid. That’s almost 25% of our weekly profits that we “lost”. Wish eBay would institute immediate payment so buyers would follow through on offers.
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Our Store Week September 25-October 1, 2022
Total Items in Store: 9061
Items Sold: 19
Gross Sales: $1,043.53 (including eBay fees, shipping, and taxes)
Net Sales: $800.83 (minus eBay fees, shipping, and taxes)
Cost of Items Sold: $180
Cost of helpers: $60
Highest Price Sold: $254 (silver flute)
Average Price Sold: $42.14
Returns: 0
Money Spent on New Inventory This Week: $10
Number of items listed this week: 40
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(Your numbers can be found here: https://www.ebay.com/sh/performance/sales)
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