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02/25/2019 at 12:56 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57629
Yay for the 400th podcast!
I had 70 sales on the main Ebay store this week! After a disappointing December & January, this past week finally felt like how it should have been during the Holiday Season. Currently at 3 sales for today. I’m not sure if increased sales have come from nearly daily listing, or reaching a certain number of active listings. I’m currently at 10,470 listings with 0 promoted listings.
I’ve been working through items from both the backlog and new stock. If I don’t list the new items right away, I at least like to sort them by type, or price them. As long as something is done to keep them active and not fall into the backlog, it works. I also spent half a day cleaning and prepping areas as new photo areas for Ebay, so at least that’s out of the way. I hope to incorporate working on inventory soon into the mix.
Definitely agree about getting taxes out of the way as quickly as you can. It makes you feel less anxious to get it out of the way as soon as possible. I always try to get mine knocked out by the second week of February, which I did once again this year. I have already shifted my focus away from that to other aspects of my business (backlog, inventory, cleaning, prepping, buying new inventory, etc,.).
I tried winning a storage unit this week (first time bidding), and it went up to $1,100 in the last 10 minutes! My max bid was $500. Yikes.
02/25/2019 at 10:28 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57594Poshmark pays for shipping, but they allow an option in “send offers to buyers” that allows you to offer reduced shipping to people that like your listings. That shipping fee reduction comes out of what you earn for the sale.
What are the fees for selling on Poshmark?
What are the fees for selling on Poshmark?
Our fees are very simple and straightforward. For all sales under $15, Poshmark takes a flat commission of $2.95. You keep the rest. For sales of $15 or more, you keep 80% of your sale and Poshmark’s commission is 20%.Once your sale has been delivered and received by your buyer, the earnings from your sale are yours. Please keep in mind that buyers do have 3 days from the delivery date to accept their purchase. If they do not accept their purchase and are pleased with their item, Poshmark will automatically release your funds on the 4th day after the delivery date. You can spend your earnings within the app or withdraw your money as cash whenever you like.
We at Poshmark like simplicity. Unlike other places, there is no nickel and diming – we handle the financial transaction for you (including paying credit card fees), provide you with a pre-paid, pre-addressed shipping label (supporting packages up to 5 pounds), and we will serve as your customer support team for your sale. In other words, we provide a simple end-to-end platform for selling fashion!
Promoted listings exist as a stealth fee increase for sellers, and an annoyance for buyers that have to see the same items twice.
I still don’t see any advantage to it, so I don’t use it. It might work for smaller inventories with more competition for common items. I don’t know.
I sorted and/or listed through 8 boxes of backlog this week so far! I’m definitely sticking to 1 box at a time to get through it all. If I’m not listing at the moment from a box, I am at least sorting/pricing items from the box and discarding items that aren’t worth it. I feel like any progress is good progress.
For items that I am pricing, I intend to list them within the week. I don’t want to find them again 5 years later, already priced but not listed (this has happened before). Ugh.
What helps is listing/sorting through 1 box of likes at a time, then moving onto another box that is completely different. It keeps it interesting.
It is encouraging to see the piles thin out. A good way to lead into spring garage sale time!
I would guess this is European, not Chinese. The style of the back part of the sculpture does not look like any Chinese art I have seen before. Are there any makers marks on it?
Reseller hangouts look like the most boring, tedious videos imaginable for the people watching or listening to them. I think some people did a 7 hour video a few weeks ago? Why??
Depending on what you sell, you can go f/t with a 200 item store, or a 20,000 item store. It all depends on a number of factors, such as what you’re listing, popularity of items, your price points, str, etc,. At the very least, everyone’s different in their approaches to all of this, so it keeps it interesting. It would be boring if everyone went after the same items with the same str and asps, and just posted their numbers like that week after week.
For my main store, it took 10,400 items listed to sell 46 items this week. I only listed on the store 3 days this week (I’ve been focusing heavily on stocking up my 2nd ebay store this week) for an hour or less apiece, so I thought that was great for the level of work I put into it. For others, they might be listing everyday for 2-4 hours a day and selling the same amount with only 100-500 listings. Yet, their net might be less. Or, they’re sourcing more, but they are also paying more in both time & money in order to make what I make or based on low cogs and little time spent sourcing. Or, they’re making more $$, but they’re spending a lot more time sourcing than I am. So many variables to look at in terms of effort with reselling.
I was listing through a bag of items I purchased last summer this morning. I found another seller with a stock similar to mine who has 300,000 items listed! With the Enterprise level store, I estimate listing fees to be $16,500 a month. 9,200 items were sold over the past 3 months. If all items averaged out to $10 asp + shipping, 3,000 sales per month would equal $30,000 sales per month. Items appeared to be going for $10-20 for the most part, so there could be $45,000 gross sales per month, possibly more. For an inventory that large, a warehouse (or 2) would be required.
Some people are f/t with Ebay, while others are extremely f/t with Ebay. I’m happy with my level of sales. Others require 290,000 additional listings to make their required income. Others need 9,000 less items than I have listed. Ebay can accommodate all levels of ambition.
Haha! Congrats on quitting your job! Don’t worry, you’ll be able to get a lot of listings up with all the free time you’ve gained.
RIP Mr. Lahey. 🙁
I actually think it’s better to sort one box at a time randomly, and then list like items in that box at the same time. This is just for items that are worth listing – discard items that aren’t worth anything, but then list EVERYTHING from that box once you have finished sorting through it all.
If you list items from most expensive to least expensive, you will only list the expensive items. The cheaper items will go straight back into the box, and then you will just put them away as you sort through a new box. With this approach, a box will never actually be emptied out.
The best way to get through it is one box at a time. Clear the ENTIRE box out. Once all items have been donated or listed, then move onto the next box. Rinse and repeat.
NAUGA MONSTER NAUGAHYDE DOLL IN “EBB TIDE” MARINE SERIES, SMALLER SIZE
SOLD FOR:$66.55
SOLD DATE: Nov 24, 2014NAUGA MONSTER – RARE 1987 EBB TIDE MARINE PATTERN DOLL MINTY! ~ L@@K!!!
SOLD FOR:$66.00
SOLD DATE: Dec 24, 2012NAUGA DOLL – EBB TIDE PATTERN – MARINE – VINTAGE 1987 AND RARE
SOLD FOR:$102.50
SOLD DATE: Oct 21, 2011I don’t like the margins on RA, so I don’t do it. I get why people do it (multiple quantity, brand new items, ease of purchasing at a local store, etc,.), I just don’t choose to buy and sell that way myself.
However, what I don’t get is why people that do this share youtube videos on the process of how they do this. “Here’s the store I go to, the aisle I go down to get the products, the listing software I use to list the items, the price I have it listed for.” What?!?
Especially the people with repeatables. Why would you create your own competition in order to get a couple of thousand views on your video?
I’ve never used Pinterest, but I find that Instagram is good for posting interesting items found and sold. It’s easy to connect with people with similar interests who can appreciate what you have found.
When items sell, they’ll still exist on in the feed for people to look at and like months later. With Ebay, once it’s gone it’s gone.
You definitely have to have an enjoyment for what you sell to feel this way.
If you buy directly from the apple store, you can get an essentially brand new “refurb” laptop for at least $200 off what you would pay for new. This at least allows you to purchase apple care for it. It’s in the clearance/refurb part of the apple store website. I’m not sure if they have this in the UK.
Last year, I purchased a 2017 macbook 12″ at a discount thanks to this section of the website. It has the best battery life of any laptop I’ve ever used, and only weighs like 2 pounds. It also has a fast flash hd. I’ve turned it into my listing machine.
How did the online auctions go??
After making good progress in January in listing through the backlog and hardly buying anything, I failed miserably at life last week and went thrifting/online sourcing/online auction bidding/rummage sale’ng. It felt like a spring week of sourcing! Now, I am back to working hard with my head down and listing as fast as I can. I’m hoping to build up 100-200 drafts this week, on top of the 60-100 items I plan to list straight through to Ebay this week.
I also found a box of unlisted inventory from 2009 that I have been working through on top of the backlog and all the new inventory that came in. Ugh.
You guys should check out the most recent episode of Broad City. It features the trash of NYC!
Don’t feel bad about not finding anything at the thrifts. You’re much better off walking away from bad items than buying them for the sake of buying.
The thrifts where I live have been bare this month. I’ve been walking out empty-handed most of the time. Oh well.
As for mugs, the last time I found any good ones was in the fall. A bunch of Starbucks mugs I haven’t listed yet. I’ll get those up soon. I thought I found a good “Nightmare Before Christmas” mug this week, but there’s 1 listed for $20 OBO with free shipping. The shipping alone looks like it will be $7-10, so no thanks! Most of the mugs I find are not worth anything and pretty generic looking. The cool looking ones I tend to keep for myself. I am a bad mug flipper. 🙁
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