10/18/2020 at 3:58 pm #82571
10/18/2020 at 4:20 pm #82573purpleguppyParticipant
- Location: chevy chase, md
Heard there was an explosion in downtown Harrisonburg and though of you. Happy to see the podcast released. Hope you’re all well.
10/18/2020 at 6:40 pm #82582Uncle TacoParticipant
Jay et al,
I think that the “Frugality” part of this is CRUCIAL. I couldn’t be doing this full time if I lived like a lot of my friends or relatives.
I believe Frugality is a KEY component if someone wants to do this FT the way we do it (i.e reselling vintage and not new items from China) and that we don’t talk about that aspect nearly enough.
I’d like to know if when you say that “ebay pays all your bills” are you including the mortgages (I assume you have mortgages) on your Air BNB properties and you downtown building(s) and the renovation costs of those? I know you’ve mentioned you own your home.
Also, can you further clarify the average $1000 per week? I know that’s just sales so if you take out your cost of goods, your helper, your 13-14% ebay final value fees and your $75 per week for anchor store subscription, that’s closer to around $670 per month profit. I’m also leaving out taxes. Is my math close to accurate?
I know that’s how I run my numbers so I’m making 100% sure I’m bringing in enough to cover my expenses and my family and I live VERY frugally compared to most we know.
Thanks for all you do. I wouldn’t be doing this if I hadn’t found you guys online years ago so I feel like I owe you alot. Thanks
10/18/2020 at 9:05 pm #82585LaurenParticipant
- Location: Central Illinois
Numbers for this week:
Items in Store 608
Items Sold: 16- 11 Ebay, 5 FB Marketplace
Total Sales: $375
Total Profit $345.75 minus fees
Average profit $21
Average sales price $23
Highest Priced Item: $45 Ice cream maker- local, no fees
New Listings: Ebay-0, Amazon- 130
Been focusing on Amazon this week. Had a $130 dollar day on amazon today thats not included in my numbers. Ebay was a pretty solid week. Been working on a secret project this week, and I ran out of stuff to list, but I have more that will be available starting tomorrow so next week will be a big listing week again. Woohoo!
10/19/2020 at 8:17 am #82591The_SEAM_StoreParticipant
- Location: PA
+1 on File Exchange,
I’ve been using it for years for weekly/monthly sales reports, active listing/inventory reconciliation, item specific changes. It’s definitely the optimal way to go, especially if you have a larger inventory, and some basic level excel/numbers experience.
10/19/2020 at 9:03 am #82593ChristineRParticipant
- Location: Southern California
Total Items in Store: 341
Items Sold: 7
Gross Sales: $235
Cost of Items Sold: $87
Highest Price Sold: $69 (RA new pajamas from summer clearance)
Average Price Sold: $34
Money Spent on New Inventory This Week: $0
Number of items listed this week: 0
Thanks for the podcast. This week I listened to it while I waited for my teen and her friend to take selfies at the pumpkin patch. LOL. So much for listing while you listen.
@Simon, congrats on your early retirement. I can’t wait to see how you ramp up Ebay even more. It’s been impressive and you always have been really organized with your numbers.
I’ve been alerted by the day job that it will be a busy week. Between that and obsessing about my son’s college app and search, Ebay is just really on the back burner. Mercari is super dead, everything is pretty much listed for their minimum $9 now and once and a while an items sells. Sometimes someone will ask me for a break on the $9 and I’m like it’s not even worth the effort to get up and pack it! Since Mercari’s shipping went up, it’s a bummer for my typical 1-2 pound items. Have a good week!
10/19/2020 at 9:14 am #82594simplicioParticipant
We had our first snow of the year so the kids were tobogganing all weekend, good fun. I had time to set up some more ebay shelving too.
Had another great week on ebay.
Sales c/w shipping: CAD$4979, 17 sales, COGS: $691, Fees: ~$673, Postage: $$601 –> Gross profit: $3014
Expenses: $689, New inventory: $663 –> Cashflow: $2354
Couple pneumatic controllers (recently bought at auction) sold for $1400, and a water quality meter (bought on ebay) sold for $800.
10/19/2020 at 10:42 am #82600Julie BParticipant
- Location: Georgia
3 more weeks at my job before I go FT reselling – I think the last 3 weeks are going to feel like forever.
I had 2 GREAT thrifting days this weekend. Saturday was at one of those Amazon Return stores where everything is priced $5 the first day no matter what it is. I found some high dollar stuff, including some sort of gun calibrator I’ve listed for $189 and a box of fancy supplements I’ve listed for $140.
Sunday I went to my first garage sale in years. It was a charity that works with women rescued from sex slavery type situations. Many of the women aren’t ready to work out in public so they run an ebay and Poshmark store! They are remodeling their space so they sold all of their ebay inventory for dirt cheap. I got tons of NWT clothing items for $1.28/ea. 10 Ryan Michael shirts with $170 price tags per shirt. Tons of dresses and other things with $200+ price tags. It was insane! I’m kicking myself that I didn’t go on Saturday – who knows what I missed out on. I thought about offering to buy all of the leftover stock but I really didn’t want to drag that much stuff home.
10/19/2020 at 11:04 am #82601SharynParticipant
- Location: Central NJ
Interesting discussion about buying a car. Our daughter started a job about a month ago, and we have only one car with an automatic transmission, which is my minivan. So, we need to buy another one. In consultation with Consumer Reports and other research, we’ve decided on a 2017 Mazda 3. At the dealer on Saturday, the manager started talking about how a 2018 would be better for resale, and I’m like “uh, our newest car is 13 years old”. Ha! They didn’t have exactly what we wanted, so we are still looking.
I’m starting to see prices again in messages. I think Jay is right. Some programmer made a change and somehow wiped out the prices, and now they are back.
Salt cellars – some people still like to use them. Perhaps they are considered more formal or fancy. I bought a large lot of glass ones a few years ago. They didn’t go for much, but they did sell pretty fast.
Yes, a slow week all around:
Week of Oct 11 – 17
Total Items in Store: 1330 eBay, 33 Etsy
Items Sold: 13 eBay
Cost of Items Sold: $22.30 + $26 Commission
Total Sales: $242.82 eBay
Highest Price Sold: $39 lot 2 vintage Optimus / Radio Shack headphones
Average price: $18.68
Money Spent on New Inventory This Week: $9.20
Number of items listed this week: 0
I volunteer for my town’s friends of the environmental commission group and manage the Freecycling events twice a year. I had to cancel in the spring. Although it is an outdoor event and could still happen, we rely on a local university to provide many of our volunteers, but they are currently remote. From ideas here on the forum and our freecycling Facebook group, we decided to go “curbside” this time. It was quite successful with about 130 houses that registered. I cannot use the event to get inventory as it is strictly against the rules, but some friends offered me a few items that hadn’t been taken. I’ll have to rewire a brass lamp, and I’ll have to figure out how to ship a large, heavy vintage (maybe antique?) enamel table.
10/19/2020 at 11:16 am #82602Retro Treasures WVParticipant
Items in Store 1564
Items Sold 24
Total Sales $721.00
Total Profit $594.00
Average profit $24.75
Average sales price $30.04
New Listings 76
October is really turning out to be a dud compared to September. I agree that people must just be really burnt out on virus and politics and that is why sales are not where I expected. Not to mention the stimulus never happened.
Yesterday I did all of my listing photos and I had a moment of panic. I updated my app on the iphone and mobile photo uploading was RUINED! I had to log a case with ebay in hopes it gets fixed. With the new ‘recent” tool photos upload in a default order no matter what order you select them. So all my photos are in reverse order. If I went to the tradtional photo album area to select photos, completely wrong photos were being uploaded!
I did find a workaround. You click on photo album, then click “all photos” at the top of screen, then click “all photos” again. This will allow you to upload photos the same as prior to the update. That’s ALOT of clicks to get to upload photos…annoying.
In regards to the $1000 machine, I checked my numbers and this year I have a $1000 a week machine too! My weekly total sales average to date this year is $1142.79 and my average minus COGS is $1022.69.
Last year my average minus COGS was only $685, so that’s a HUGE jump.
In regards to the being frugal talk, my major frugality comes via clothing. I’ve converted my whole family to buying used. As I type this, I’m wearing expensive Clarks dress shoes, a $100+ Dri Duck jacket, American Eagle Khaki pants, and a Nike golf polo. All of it is from Goodwill at a total cost of about $11. The only new clothing I buy is socks and underwear. Lol!
Since I’ve lost 120 lbs, I’ve been able to swap out my wardrobe with stuff I already had in my ebay inventory. The best day ever was when I realized I could wear normal width shoes. I went on a shoe ‘shopping spree’…at home in my inventory building.
My wife was slow to come around, but she is 100% on board now. Her wardrobe is amazing. She shops for herself and the ebay store every Saturday and Sunday. When she clears out her closet to make room for new stuff I list everything she discards since it was originally purchased as inventory anyways. Shoes? She has ALL the shoes. How any woman can afford to buy shoes at retail, I just don’t understand. My wife has a closet full of $100+ shoes that in total cost less than a single pair at retail. Again, I sell them when she tires of them so it is always a net profit rather than a loss.
10/19/2020 at 11:54 am #82604old_man_martyParticipant
- Location: California
My Sales Week Ending: 10/17/20
Total Items For Sale: 57 (Up 2)
Items Sold: 1
Items Listed: 3
Average Profit: $21.57
Highest Profit: $21.57 DKNY Wool Sweater Dress
Cost of Items Sold: $0
$ Spent Sourcing: $0
10/19/2020 at 12:29 pm #82605DoublythumbsParticipant
- Location: Hopedale, OH
Oct. 11 – 17
- Total Items in Store: 4,018
- Items Sold: 18
- Total Sales : $573
- * WAY BELOW yearly average of $1,005
- Highest Price: $96 (Vintage MCM Gold Tone Gooseneck Desk Lamp)
- Average Price: $32
- Returns: 0
- Cost of Goods Sold: $46
- Costs of Goods Purchased this Week: $0
- Number of New Items Listed this Week: 22
Another slow week. Like you, this has been the slowest past few weeks in a long time. But since I’ve been keeping track of my numbers for the past four years now, I can see that October has historically been somewhat slow for me. Things always pick up starting at the beginning of November. I know it’s been a weird year, but I’m confident that sales will start rising in a few weeks.
Regarding the topic of knowing your average sales, I’ve been keeping track of my weekly average for some time now. I’ve been excitedly watching that number rise to exceed $1000 which was an awesome milestone. It’s good to know your average in order to keep you grounded. So for instance, this week was a bummer with under $600 in sales. Knowing my average of $1000 a week keeps me from beating myself up about it. And on the other end, if I make triple that in a week, I’ll see my average bump up a little but I’ll know not to get too cocky.
10/19/2020 at 1:56 pm #82608gargolferParticipant
- Location: Illinois
Total Items In Store: 2095
Items Sold: 40
Gross Sales: $1153
Highest Price Sold: $150 (2 Vintage Revere Ware Muffin Tins)
Average Price Sold: $28.84
Returns: 1 $32
Money Spent on New Inventory: $74
Number of items listed: 58
- Back on track with sales this week. Made it back over $1K after a really slow week last week.
- Found 2 1980’s Revere Ware muffin tins in a box I got from an auction a couple weeks ago and they sold for $150 this week. People will buy the craziest things!
- Had a return this week on a set of flatware. I listed them with the wrong pattern and had to refund the buyer. Dumb mistake!
- My numbers don’t include a couple of small sales on FB Marketplace. I cleaned out a few larger items from the garage which works very well using FB.
- This week’s discussion also prodded me to go and take a look at my weekly averages. So far this year my average week is $1102 in sales. My average week last year was $754. When I quit my day job last May, I was averaging $440 a week and my goal was to get to at least $1K per week by the end of the year. I was able to reach that goal and maintain it. I try to get at least $2000 worth of product listed each week which got me to my sales goal fairly rapidly. Over the next year, I am going to have to try to raise my listing goal to $3K and see if I can get to a $1500 weekly average.
10/19/2020 at 4:31 pm #82614retiredtreasures719Participant
- Location: Troy, Ohio
Hey gang! Thought I should stop lurking and chime in a bit. Things have slowed down for me too. I’m used to the occasional day with no sales, but last week I went 3 days! Then I had a really good day followed by another day with no sales. It, pardon my language, sucked!
Here’s my two cents on auctions. I generally avoid them, but recently I have been doing more of them. Sometimes they work great, sometimes not. I generally auction things that I’m finding a wide range of prices on, for instance a sterling fork/spoon set Sandringham by Shiebler. Prices ranged from $5 to hundreds of dollars. So I debated with myself and decided to ask $19.99 for them and was still doubting my price. So I put them on a 5 day auction with a starting price of $19.99 and ended up getting $28 for them. My other auction scenario- I have an item which doesn’t seem worth much, but can’t find anything to compare it with so I start it at an auction for .99 with the buyer paying shipping. It’s only costing a bit of time since I have 500 free auctions and with the pandemic, time I have in spades. Occasionally I make out quite well and if it doesn’t get any nibbles after a couple of tries, it goes in the Goodwill bag.
My theory on the slow down is that stimulus money is running out and people are lying low until after the election. These are scary times between politics and a pandemic. I also did a bunch of sourcing this past weekend, so I’m ready to hunker down and list, list, list!
Happy Halloween y’all!
10/19/2020 at 5:00 pm #82615totommytoParticipant
- Location: Naples, Fl
Hello all, I have not been a regular on the forums for months now. Like I had mentioned, we put our home up for sale, been very busy, and good news, it sold. God willing, we close on the 30th and everything looks as good as it could be. We will live apartment life for about a year and see what’s next. Also, my 401K has been cashed out without penalty (I’m close to 60 years old), and debt has been paid off.
Earnings on eBay/Etsy have been consistent with my normal. Here is a 5 month average report:
eBay weekly net about $300 with about 12 sold, with average sell price about $25
Etsy weekly net about $110 with about 5 sold, with average sell price about $22
These numbers are without shipping and without fees taken out. COGS average about 10% of selling prices. My eBay store currently has 748 listings, Etsy has 548.
So, what lured me out of hiding? Jay mentioned the free shoebox full of Lego score on this weeks podcast. When it comes to sorting and sifting obscure little toy parts and pieces, and making money off them, I cannot resist posting the occasional report.
Around mid July I scored what amounted to around 6 large bins of mostly Lego. There were also some Mega Bloks, Transformer, Technic (also Lego brand), and various other toys mixed in. I bargained down from $200 to $180, since the vendor was going to let me walk. Legos are expensive generally. I won’t go into the various sorting and sifting and all that, just know it was, and still is a project. And one has to be careful of clone Lego, I kid you not! Luckily the lot I found was all around the same date and seemed to belong to the same kid. I could have quick flipped for around $400 that day, or sold in large lots for around $1,000. I chose the slow and steady and have a love affair with Lego way.
So the numbers so far are $1,500 sold, another $1,200 (minimum) listed and should sell, and another $300 or so to list. So, $180 into $3,000 and I am a Lego professor now with still much, much to learn. I reserve the right to stop learning until I find more Legos.
Fun to mention are that just five minifigure lots, about one pound of Legos, paid for the whole shebang. Here are the highest selling of the minifigs:
Star Wars Commander Wolffe, $55, found complete and sitting in a partially built ship:
A lot of Star Wars minifigs, $45, found mostly complete:
A Marvel Hero Iron Patriot, $44, had to piece him together from all those Legos!
A Snake Tribe from the Ninjago line, $38, research paid off, many found complete
Star Wars Wolfpack Clone Trooper, $32, found him with Commander Wolfe:
There is quite a bit that goes into finding, identifying, and successfully selling a giant mixed lot of Legos. I enjoyed building the minifigs the most. The excitement in finding a tiny little hairpiece to complete a figure was embarrassing though! The worst part was opening up ‘advanced’ transformers and then trying to close them back up again while all the bells and whistles go off the entire time. And they shoot stuff.
Thanks again all, and Jay And Ryanne. I never miss a podcast, and I still lurk around now and then.
10/19/2020 at 5:07 pm #82616totommytoParticipant
- Location: Naples, Fl
Ooops, I showed Commander Wolffe twice, here is the Wolfpack Clone Trooper…Do you care?
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