08/09/2020 at 2:38 pm #80484
Join the conversation in the forum>> Our Store Week August 2-8, 2020 Total Items in Store: 7812 Items Sold: 44 Gross Sales: $1292.01 Cost of I
[See the full post at: Scavenger Life Episode 475: Spotting Problems, Solving Problems]
08/09/2020 at 9:49 pm #80492LaurenParticipant
- Location: Central Illinois
Planning on listening tonight, but here’s this week
Items in shop:249
Newly Listed: 90
Sold on Ebay: 2
Gross Sales w/o shipping: 29.98
Highest item: MCM Bud Vase, no name, 16.99
COGS: Less than $1
Another slow week, but we’ve been listing like crazy. Have some more FB Marketplace sales keeping us afloat, though it’s more quick nickle than slow dime stuff. Tons of questions being asked this week about products, so hopefully will see some sales.
I put promoted listings at 1% on all my listings and the bud vase sold via promoted. Going to set a 10% sale tonight too to boost some sales for the coming week.
Listed 2 auctions worth of stuff in the last 2 weeks, and still chipping away at that estate from the 85 y/o. So far every box has had something in it to at least pay for the box, but it’s not the ROI that I’m looking for.
On the local front, I have two consignment booths in town that I use to cull down sub $20 items. One of my booths asked if I wanted to move downstairs to the main floor and get 3 shelving units instead of 1 that I have upstairs for the same price ($40 a month, no commission), so I moved all my stuff down and figured out I have about 5 shelves worth of space more than what I had upstairs. Lots of old lady smalls going to the booths this week. My other booth didn’t turn a profit this month, which is the first time it hasn’t, but I also only moved stuff once last month because of the wisdom teeth debacle.
Wisdom teeth are good, but I found a cyst so I’ve been out of commision for the weekend until I can go to the doc tomorrow. Don’t worry too much about it, its not the big C word, but it’s annoying regardless. I’d love for all this medical stuff to be over.
Thanks for the podcast! Excited to listen.
08/11/2020 at 3:10 pm #80581
I’d love to hear how your antique booths do over time.
08/09/2020 at 9:51 pm #80493spinachetrParticipant
I haven’t posted numbers here in a very long time, but wanted to show that postcards still provide a very lucrative income.
Total Items in Store: 24,863
Items sold: 160 (159 postcards)
Gross Sales: $1,852.13
Highest Price Sold: $60 (Barney The Dinosaur Plush from my 2nd store)
COGS: $18.89 (postcards average $.10 each Barney was $2.99)
Average Price Sold: $11.27 (postcards only)
Money Spent on New Inventory: $500 for approx 6,000 postcards
Number of items listed this week: 450
I consolidated my 2 stores and I’m still 95% postcards. After retiring in November 2019 it took me about 5 months to decompress, recover and regroup from my job. My pension covers all of my bills with some leftover. I still do ebay for fun money and for capital for other lofty goals.
As a retirement gift to myself I took advantage of the dealership offers during the pandemic and bought my forever truck. Probably shouldn’t have, but I usually don’t splurge on anything for myself. I went from driving 500 miles a week to driving 500 miles every 3 months, so I hope to have this truck for many years to come.
08/11/2020 at 2:52 pm #80571
Congrats on retirement. You did it! What kind of truck did you get? Around where I live, guys made quite the judgement based on what brand you drive 🙂
08/11/2020 at 4:12 pm #80587spinachetrParticipant
Chevy Silverado. I made my way around the other brands, but I always come back to Chevy. They’ve given me fewer problems than the others. And, thank you! At times I didn’t think I was going to make it to retirement, it always seemed so far away. I am so blessed to be able to have my time and my life back. It’s amazing when 90% of the BS you had to deal with suddenly disappears overnight.
08/12/2020 at 7:48 am #80603
Nice. I know a lot of Chevy fans. Welcome to your life!
08/13/2020 at 12:07 pm #80652MissMaggieParticipant
- Location: Ohio
@spinachetr Your post has inspired me to list the vintage postcards in my collection. First I’ll do the research! What you said about retirement & decompressing / recuperation from the job is something I totally relate to! I’ve been retired for over 3 years now and some mornings I still wake up and pinch myself as I feel so super-lucky to be able to support myself and not have to go through all that daily stress of the “workplace”. I bought my forever-van…and I love it! Best regards on your retirement journey!
08/09/2020 at 10:14 pm #80494
Not going to give numbers this week, will do so next week.
I do have a question, to preface a relative has broken their hip and is living in an assisted living facility. She’s doing fine but won’t be moving back into her home and it will become a rental property due to legal stuff (power of attorney stuff). My role is to list stuff as things can’t be donated (would violate the trust). I’m going to list the larger stuff on local apps (LetGo, OfferUp, and FB Marketplace). I live in the Midwest and my relative lives in the Southwest. Should I sell what I can when I go down starting Weds until early September and then ship back what doesn’t sell? Then I could ship from my apartment from the eBay account I made for this project. Thoughts?
08/10/2020 at 12:48 am #80498So Cal JoeParticipant
Depending on the distance you are from your relative, I would strongly consider an estate sale of some type, especially for the larger stuff. The hassle and expense of moving it, is generally not worth it. If you are going to temporally relocate, then yes the online local sales apps might be a good move.
I hope it all works out.
08/11/2020 at 2:56 pm #80573
I don’t disagree with you about the estate sale. I think there might be concern over another relative getting jelous (family drama). My goal is to sell as much as I can and then decide on what else to do with it.
08/10/2020 at 9:19 am #80503
Hey Jay and Ryanne,
$2.72 sounds like it might be a first class return label. Have you gotten any small items returned recently? Incidentals like return shipping will be included on the monthly invoice along with your store fees.
08/10/2020 at 9:21 am #80504
ah, that might be it, wish ebay would just reveal those fees though.
08/10/2020 at 9:25 am #80506
My account wont be activated for managed payments until next year so I can’t check, but maybe you can still go to the account/invoice page and see the running details for the current month.
08/11/2020 at 2:51 pm #80570
Although today it jumped to $88.23 in our invoice. No place that breaks it down.
Seam_Store, are you in managed payments and see the invoice amount?
08/11/2020 at 3:01 pm #80575
No, I got an email saying my account wouldn’t roll over until some time early next year.
But, normally you could go to the Account Summary tile of the Seller Hub and click the header. You should be taken to the invoice page on “old ebay”. Scroll about half way down to just below the Current Balance. Here you will find quick links to each type of transaction on the current invoice. I would think it will be under “fees”.
Just an idea of a work-around. Not sure if it will work or not since I can’t test it myself.
08/11/2020 at 3:13 pm #80582
True. I’m going to wait till the invoice is due and see how eBay conveys the breakdown. I feel they’re still figuring out the system?
Currently, it looks like this:
No clickable links that explain how the current invoice amount is calculated.
08/11/2020 at 3:26 pm #80583
You might also still be able to get to the old invoice page by hovering over your name at the top left corner of the screen, click “Account Settings”. On the next page click “Seller Account”
08/11/2020 at 3:26 pm #80584
I think Ryanne figured it out: the invoice amount is for eBay Send and FedEx labels. Shipping labels come out of the Managed Payment account but not these labels.
But we don;t know this for sure since eBay doesnt list the fees. We’re just deducing.
08/10/2020 at 9:22 am #80505debitendcreditsParticipant
- Location: Albuquerque, NM
My store: DEBITENDCREDITS
Total Items In Store: 2,344
Items Sold: 33
Cost of Items Sold: $208.25
Total Sales (Sales + Shipping does not inc sales tax) $1,395.66
Ebay / PayPal / Shipping Costs / Fees $433.30
Net Profit: $962.36
Highest Price Sold: $150.00 Vintage 1920 Smith Corona Typewritter
Average Price Sold: $29.16
Number of items listed: 70
Scavenge of the Week: a HUGE lot of 8mm Home movies with footage shot all of the world between 1960 and 1986. The first two 30 minute reels contained footage of 1960s Dog Sledding, President Eisenhower on a military base, jets flying, a baby in diapers playing poker, and a zoo trip. Whoever took these films, knew how to compose shots, follow subjects, and stay in focus. I have only begun to explore this treasure trove.
Most Satisfying Sale Sold a Vintage GE General Electric Radiant Space Heater for $60.00. I rescued it for our local recycling bin—a truly scavenged item.
08/10/2020 at 9:48 am #80508simplicioParticipant
Decent week on ebay for me.
Sales c/w shipping: CAD$2499, 14 sales, COGS: $149, Fees: ~$365, Postage: $640 –> Gross profit: $1346
Expenses: $0, New inventory cost: $1100 –> Cashflow: $156
Got a bunch of microscope stuff for $15, already sold one lens in a few days for $380 to France. Also moved a whole bunch of fibre optic terminals I got at the dump for $5, they sold for $430 with like $550 shipping (weighed 70lbs altogether) to somebody in the south.
Spent a lot of money on ebay sourcing… I guess we will see how well bone drills sell.
08/10/2020 at 9:58 am #80509The Thrift RaiderParticipant
What we do in the shadows fan here! Favorite episode was the Mailer Daemon.
Slow sales over here lately from all 3 of my platforms, but enjoying the break from the overall business of the pandemic. Sourcing Halloween is probably a great idea right now, just sold a blow mold for $50.
08/10/2020 at 11:20 pm #80534
omg Mailer Daemon episode was hilarious
08/10/2020 at 10:21 am #80510The Thrift RaiderParticipant
Also, one of the best things I ever did was move to Mint and pay $200 a year for service. I can’t believe people pay $100 a month. Now I even think my old service at Straight Talk was too expensive at $45 a month.
08/10/2020 at 12:30 pm #80514InstanceParticipant
Poor guy just wants a tesla 😉
A quick look at the spreadsheet shows 12 sales for a total revenue of $510 and a profit of $215 for the week. I’m noticing that rather that I’m clearing out a lot of the gaming items I have bought from others locally and slowly selling more and more retail arbitrage/imported myself type items.
While it makes me less a flipper and more an actual ecommerce store I do like these items as the sourcing a lot more consistent.
Goal ahead is just to keep churning over inventory to build up capital!
08/10/2020 at 12:30 pm #80515RhiannaParticipant
Much better week for us, the last month and a half has been scary slow.
Total Items in Store: 703
Items Sold: Ebay 28<span class=”Apple-converted-space”> </span>
Total Sales: $1895
Highest Price Sold: $391.50 8mm Player (Paid $20)
Money Spent Inventory This Week: $311 (online auctions)
My favorite item: Vintage Bear sold for $198 and purchased for $6
Along with you all we have been contemplating life and wondering how to sell higher priced items. With both my husband and I now reselling full time we wanted to change business models. We are also running out of space in our house. UG. We will no longer buy items that will make us under $25, at least this is what our goal is. We have been doing pretty well in the last month with higher priced items, most we have gotten at online auctions for a pretty minimal price. We of course are always weary of scammers with electronics but we are going to do our best, learn from our mistakes, and give it a shot.<span class=”Apple-converted-space”> </span>
We are also fans of What we do in the Shadows!!<span class=”Apple-converted-space”> </span>
08/11/2020 at 3:03 pm #80576
We’re right there with you. Our biggest challenge is finding high dollar items + good margin + WITHOUT spending all day online or in-person scavenging. It’s a tough equation to crack!
08/10/2020 at 12:33 pm #80516DoublythumbsParticipant
- Location: Hopedale, OH
Aug 2 – 8
- Total Items in Store: 3,947
- Items Sold: 39
- Total Sales : $1,193
- * ABOVE yearly average of $1,002
- Highest Price: $180 (1912 Arthur J Elsley Print in Frame “His First Christmas”)
- Average Price: $31
- Returns: 0
- Cost of Goods Sold: $85
- Costs of Goods Purchased this Week: $0
- Number of New Items Listed this Week: 15
It looks like I’ve hit a milestone. For the first time, I’ve averaged over $1,000 a week over a 52-week period. This is a goal I’ve been working toward since day one. It feels great knowing my store can generate that kind of income, even when I’ve put almost no effort into it for a little while like I did this last week. We spent the week preparing for our community yard sale, but I feel like it wasn’t really worth it. We made about $200 together which is fine, but the work getting everything out of our basement up to the garage and organizing everything was insane. From now on, I’m only putting in the yard sale pile the things that I know will sell and tossing the rest.
I just got into the Managed Payments program last week too. So far I like it. And I like that we won’t be paying anymore PayPal fees, but I’m wondering if that will be supplemented with additional eBay fees. So far I haven’t seen any decline in sales but rather on the contrary my sales seemed to have had a boost since the day it activated. I’ll keep recording the data and reserve my final opinion once I see the numbers.
One annoying thing about Managed Payments is that it removed 18 of my currency-related items. I knew the policy beforehand, but I didn’t know I had so many listings. The funny thing is that not a single one was for real currency. They were all bus tokens or wooden nickels or commemorative coins. I wonder if I can re-list those in a different category and not catch flack for it.
I had a question for the caller who purchased a church building for storage and had an auction from it. Was this in Weirton, WV? I swear I went to an auction earlier this year out of a little old church that sounded just like what you were describing.
08/10/2020 at 1:14 pm #80517ChristineRParticipant
- Location: Southern California
Total Items in Store: 353 Ebay, about 100 Mercari
Items Sold: 4 Ebay, 1 Mercari
Gross Sales: $200 Ebay, $9 Mercari
Cost of Items Sold: $64
Highest Price Sold: $79 (4 new plates, bought on summer clearance this month for $22)
Average Price Sold: $50 Ebay
Returns: 0 – two immediate offer cancelations.
Money Spent on New Inventory This Week: $0
Number of items listed this week: 4
Slow sales this week but only one was very low dollar. I have been really tied up with my day job and son’s college search and apps so basically not listing or running a sale. One day Ebay let me send out 28 offers and I didn’t even get any counters.
Hope everyone has a good week. Perhaps people are being cautious since the Federal relief has stalled out. I’m wondering if people will be extra excited about some Halloween and Christmas items this year since they are cooped up. Obviously might be less gatherings and travel but the holidays are a nice change.
08/10/2020 at 1:16 pm #80518old_man_martyParticipant
- Location: California
My Sales Week Ending 8/8/20
Notes: Efforts went to a new niche that needed some prep work. Will return to listing this week.
Total Items For Sale: 67
Items Sold: 1
Items Listed: 0
Average Profit: $6.36
Highest Profit: $6.36 for a small lot of boy’s pants
Cost of Items Sold: $0
$ Spent Sourcing: $0.00
08/10/2020 at 2:50 pm #80519jamieParticipant
What we do in the Shadows is great! Love that show.
08/10/2020 at 11:45 pm #80536
i rarely laugh out loud at shows, but this one cracks me up, sometimes uncontrollably. jemaine clement (writer, producer) is hilarious.
08/10/2020 at 4:02 pm #80522ThatAnonymousWomanParticipant
Regarding the invoice total on the payments tab, mine equals the FV fees charged for the period of time between my last invoice and when managed payments was activated for me. I assume they will also charge store subscriptions to the invoice amount at the end of the month.
08/11/2020 at 3:15 am #80544PaulParticipant
No need to feel sorry for PayPal. eBay has a market capitalization (share price x # shares outstanding) of $38.05 Billion while PayPal’s market capitalization is $226.82 Billion. Here’s another measure: eBay earned $746 Million of Net Income during March – June 2020 while PayPal’s Net Income for that same quarter was more than 2x ebay’s at $1.53 Billion. This is why activist investor Carl Icahn pressured eBay into spinning off PayPal as a separate entity to “unlock” the value. In other words, activist investors like Icahn and now Elliott Management are forcing eBay to part itself out because the sum of the value of PayPal, StubHub, eBay Classifieds, Magento, etc is more than the value of eBay as a whole.
08/11/2020 at 3:05 pm #80578
Agreed. Rich people get rich.
08/11/2020 at 8:25 am #80551Retro Treasures WVParticipant
Items in Store 1282
Items Sold 25
Total Sales $739.00
Total Profit $653.00
Average profit $26.12
Average sales price $29.56
New Listings 7
Yesterday we had our refinance appraisal. We used that as motivation the last 2 weeks to hardcore do work to our house so it looked its best for the appraisal. I am TIRED! TONS of painting, trim, repairs, cleaning, etc. I took a week of vacation from my day job just to get this work done.
Now it is done and our house looks amazing. I’m gonna take a week or two to reorganize my ebay space that I wrecked during this process and get back on the listing train.
Numbers for the week weren’t going well but I had two $100+ sales this weekend that saved the week.
Also of note, this past weekend was the annual neighborhood yardsale. We took a break from work to hit the sales. There were SOOOO MANY yard sales! I was tired of them by the time we were done. I was able to get a bunch of great stuff. Yard sales are where I get my best items for my store – the good stuff rarely hits the floors at thrift stores anymore.
08/11/2020 at 12:41 pm #80563Julie BParticipant
- Location: Georgia
The podcast’s discussion around new cars was timely for me. For some reason 2 weeks ago I started thinking I wanted a different car. Mine is a 2015 Nissan Rogue. There is nothing wrong with it – I just don’t like that every other car on the road looks exactly like mine. My husband was even pricing cars for me online when suddenly over the weekend I came to my senses. Why would I want to shell out thousands of dollars when my car is paid off, has all of the features I want and is in perfect working order? I’m not even a car-person. I’ve always driven other cars for as long as possible. I think I was just bored.
08/11/2020 at 3:06 pm #80579
I think thats exactly what Ryanne was going through.
08/11/2020 at 3:29 pm #80585
yeah, basically, i was like my car is dirty, i want a “new” one. AND a friend recently upgraded to a sweet vehicle and i was jealous. AND another friend in town bought a 2016 TESLA, which i’m also jealous of. not jealous of his monthly payments though!
08/11/2020 at 1:58 pm #80567Old DadParticipant
- Location: Missouri
“Spotting Problems, Solving Problems”. Yes, very important and I personally think this is more difficult for someone like me who has no partner (business or life) to share concerns with. I think, at least in my case, we can become better at independent problem solving if we take the time to analyze the problem. There are also several proven problem-solving techniques such as ‘Root Cause Analysis”, which can be found online.
What I really want to bring up though is the danger of falling into the trap of creating systems and processes to circumvent a problem, or spend more money and time preventing a problem that what the problem causes for us. This sometimes comes from deciding to make sure the problem, whatever it is, never happens again. One example, I have seen some sellers who make a video recording of packing every order so the can prevent the empty box or didn’t receive everything type of claim. I personally think that is way overboard but those sellers who do it will likely staunchly defend that process and even think sellers who don’t do it are just stupid.
It’s called cost vs. benefit analysis and it can be applied to many decisions we make in business and even in our personal lives. A good example is Jay and Ryanne talking about keeping an older reliable car vs. buying a new or newer car.
Anyhow, these are things that work for me in solving problems.
08/11/2020 at 3:09 pm #80580
Good point. Another commenter taught us that it was dumb to get insurance on every item. Because so few packages ever get damaged in transit, we were losing money “being safe”. It’s better to just take a chance and eat the cost of the one damaged package that happens each year.
08/11/2020 at 4:19 pm #80588
Finally listened to the podcast. Man the guy who called in about using the church for storage is something else! I think it goes to show also that one changes what one sells over time. Also maybe an incentive to get help with photos or listings to plow through that large of a “death pile” aka storage units. It also I think points out just how many people who have estates think they have more valuable stuff then then actually do. I do think it’s natural especially for people who don’t do eBay to over estimate what stuff is worth.
08/12/2020 at 7:50 am #80605
Many many people think “old” immediately equals “valuable”.
08/11/2020 at 6:54 pm #80590David PuddyParticipant
- Location: Gilbert, AZ
Finally found my first antique typewriter in a storage locker. Had it professionally restored at a typewriter store, didn’t even know those guys were still in business.
08/11/2020 at 9:02 pm #80596retiredtreasures719Participant
- Location: Troy, Ohio
Just got an email from eBay today-simplified fees start August 12. Can’t come soon enough, because I got a huge honking July bill. I honestly wasn’t too sure when I started with managed payments in June, but after I finally got everything directed away from PayPal to my new bank account, things are flowing pretty well. Every time I thought I had switched everything, something else would pop up. Hit a new high today in my store-1,300 items!
08/12/2020 at 7:50 am #80606
What are simplified fees?
08/12/2020 at 9:05 pm #80626retiredtreasures719Participant
- Location: Troy, Ohio
Took me a bit to find where I saw this but here’s what they sent me…
Reminder on Simplified Fees:
Starting August 12, you will pay only an updated final value fee, consisting of a category-based percentage of the total amount of the sale, plus a $0.30 fixed fee per order. You will not pay separate payments processing fees.
Fixed fees will apply to each order, rather than each individual item in an order, saving you money when buyers purchase multiple items from you.
In the event of a refund or cancellation, the variable portion of your final value fees will generally be returned to you, and eBay will retain only the per-order fee.
Final value fees, and select fees associated with the order will be automatically deducted at the time of the sale, and the rest of your proceeds will be paid out directly to your bank account.
You can cover the costs of refunds from your linked bank account or credit card when your pending payout is not sufficient to cover the refund amount.
Watch a short video on fees here or for full updated fee details, click here.
08/13/2020 at 7:21 am #80638
Ah thanks. I forgot that this new payment system is called “simplified fees”. I’m still getting used to everything being attached to our bank account with money in and money out on the regular.
08/13/2020 at 5:26 am #80634Country LaneParticipant
- Location: Indiana
If you want peanuts, Uline is probably the most expensive place to get them unless you are picking them up, but even then they charge you for that. Open google maps for your closest big city and search for shipping supplies. There is probably a local place that sells bulk bags of peanuts you can pick up or have delivered to you for next to nothing. I bought 10 big bags of peanuts in Indy for about $18 a bag and they delivered for $15. These companies usually have delivery routes around the state anyway delivering to business and factories.
08/13/2020 at 7:20 am #80637
This is good advice. Ironically its the shipping of bulky peanuts that’s expensive.
08/13/2020 at 8:53 am #80648gargolferParticipant
- Location: Illinois
Total Items In Store: 2037
Items Sold: 29
Gross Sales: $779
Highest Price Sold: $120 (Yamaha FM Sound Generator)
Average Price Sold: $26.87
Returns: 0 $0
Money Spent on New Inventory: $204
Number of items listed: 18
- A little late posting sales this week. We got hit with a freak storm early in the week. 100 MPH winds for about 20 minutes straight. Had trees down at 2 of our properties and one landed on the porch roof. I’m pretty sore from cutting and hauling wood for the last couple of days, but it’s all cleaned up.
- Put my store on 3 days handling last week, as I was out of town for a wedding and had my son doing my shipping for me.
- Got switched to managed payments this week…a little freaked out at first about how it all works. Seems mostly fine, but I don’t like not having instant access to the funds like I had with PayPal.
- One of my favorite auctions opened back up again and I went last week. Interesting dynamic….about 50% wearing a mask. Most of the 70+ years old were not masked. Old farmers just going about business as usual.
- Scavenge of the Week: I had the winning bid of $2.50 on an online auction of the entire wall of glassware behind someone’s basement bar. Lots of unique glassware from the 70’s and a couple of cool decanters. My wife packed it in boxes while I hauled it up to the car, so I don’t even know what all is in there. It will be fun to go through when I am ready to list it.
08/15/2020 at 3:41 pm #80690TemudginParticipant
- Location: Jacksonville FL
Jay your interview of Chris the Coin Guy was in Episode 138 back in 2014 if that’s who you were thinking of. I also wonder how he’s doing. I find that in 2020 I can still snipe items for resale on eBay though I now use Gixen rather than doing it manually. But I don’t buy gold coins.
08/15/2020 at 4:36 pm #80693
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