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Awesome to know that you have something to fall back on if it’s ever needed!
Yeah, for our taxes, I take 15% of our mortgage payments as an expense as that’s the approx sq footage I use (plus internet bill, car payment, mileage, etc).
Week February 4-10, 2018
Total Items in Store: 889
Items Sold: 20 (2 Facebook)
Cost of Items Sold: $42 (10.2% of sales)
Total Sales: $411.93
Highest Price Sold: $42 (Lot of 3 metal records)
Average Price Sold: $20.60
Returns: 0 (1 says he’s sending back though)
Money Spent on New Inventory This Week: $608
Number of items listed this week: 48
Promoted listings test: 11 sales, $257.94 (62.6% of total sales), $13.84 fees (5.4% of sales)Lowest total dollars in sales since probably Aug/Sept of last year, but also probably the lowest COGS% since then as well. Volume was solid, but average price sold was super low – only one sale over $30 this week.
Spent most of the weekend cleaning, organizing, listing. Usually only get 20ish things listed per weekend, but was able to knock out 48 which I was excited about. Also, my entire inventory is stored in our second bedroom in our condo so I’m constantly pruning and donating old inventory so I can buy new inventory. However, our condo just announced their building 5x5x9 lockers in our basement and I jumped on the list immediately. Excited to combine the need for storage space with the inconvenience of it being in the building. This could allow me to cross that 1000 item barrier that I’ve been stuck behind simply because of space issues.
This sounds amazing.
02/06/2018 at 4:29 pm in reply to: Scavenger Life Episode 346: Frank Discussions. Gewgaws. Storage. #32334The way I look at it (estate sales are my preferred way of shopping vs. thrifts), if they didn’t want you to looks through & buy their stuff, they wouldn’t have an estate sale. They want everything out of the house so they can sell it and you’re there to help them in that.
02/06/2018 at 11:35 am in reply to: Scavenger Life Episode 346: Frank Discussions. Gewgaws. Storage. #32282I remember about a year ago you saying you worked at a record store but would never sell on eBay – never understood it cause you probably have a wealth of knowledge that an amateur like me doesn’t… I just focus on what I know (Beatles, Zep, Floyd, Stones, Kiss, etc will always sell quickly). That, plus they’re generally quite cheap to acquire & store easily. I’m up to about 30% of my store being records.
02/06/2018 at 11:25 am in reply to: Scavenger Life Episode 346: Frank Discussions. Gewgaws. Storage. #32281I really like the white/multicolored lettering tape because I think it stands out and its great for “branding” (much like Amazon’s taps/boxing). But, part of me likes that new purple tape because it would be good for “cover ups” – like if you’re using a liquor box to ship, or reusing an Amazon box, etc.
02/06/2018 at 10:40 am in reply to: Scavenger Life Episode 346: Frank Discussions. Gewgaws. Storage. #32276re: Super Bowl AirBnB
I would think the only people that could command that $5k+ price would be established folks that have ratings & feedback. New listings/no feedback folks probably would have to undercut those pros in order to get the bookings.
02/06/2018 at 10:30 am in reply to: Scavenger Life Episode 346: Frank Discussions. Gewgaws. Storage. #32273Ditto on this. Most of my sales are one offs. However, maybe once or twice a month, a buyer will buy a bunch of “like” items (records, toys, militaria) or ask the question “do you have more of x”. The store categories is just an easy way to point them in the right direction.
Also, it helps if you’re having sales. Instead of putting my whole store on sale or selecting items individually, I can put a category on sale in seconds. Also makes it easy to have a “Clearance” category for those big, move them out, sales.
02/06/2018 at 10:26 am in reply to: Scavenger Life Episode 346: Frank Discussions. Gewgaws. Storage. #32272“lebensraum” – hadn’t heard that word since high school AP International Relations. Good one, albeit one with pretty dark roots. 🙂
02/06/2018 at 10:04 am in reply to: Scavenger Life Episode 346: Frank Discussions. Gewgaws. Storage. #32270That storage picture looks awesome! So organized & clean!
Week January 28 – February 3, 2018
Total Items in Store: 857
Items Sold: 15
Cost of Items Sold: $140 (18.2% of sales)
Total Sales: $769.94
Highest Price Sold: $210 (Victorian photo album with 35 photos)
Average Price Sold: $51.33
Returns: 0 (1 may be coming though)
Money Spent on New Inventory This Week: $122
Number of items listed this week: 20
Promoted listings test: 11 sales, $523.96 (61.8% of total sales), $25.64 fees (4.9% of sales)Low volume, but high quality sales this week (which is totally fine by me). Highest avg price sold in a long time, with 3 items over $100 (the photo album, a 1960s Barbie, and a limited edition Zippo) selling and only 6 items less selling for less than $30. With those high dollar sales, my COGS were teetering on the edge of being over my 20% goal/threshold – but I snuck in slightly under that line.
I didn’t go out and do any picking, but recently have been active in a FB buying/selling group and on a couple of online auctions. Testing the waters to see if there’s still enough room for profit, expanding what & where I can source things.
I’m a noob myself, still learning – literally signed up on Saturday and put up 5 listings. From what I’ve seen, the volume isn’t as high as eBay or Amazon, but the prices can be higher. Only a few days in, I would think it’s similar to Etsy – it requires your own curation & sharing. For example, each day they have themed “parties” that could be either by style or brand. Yesterday they had a “Chanel Party” where they encouraged sellers to share their Chanel listings so that buyers that only want Chanel have everything in one spot.
As for listing, it’s pretty easy & fluid, although I have not seen something that lets you easily import listings.
As for fees, I do believe they may be a touch higher than eBay (especially if you get the TRS discount), but prices can be higher as well. Additionally, sellers do not pay for shipping – buyers do and then Poshmark sends you a prepaid label.
Another feature that I love that I have been wanting to see on eBay for years – if someone makes an offer, they pre-authorize the credit card. So someone makes a $50 offer on a pair of shoes and I accept, the money is already there and the transaction is complete.
I’ll certainly update the group once I make a sale!
Week January 20-27, 2018
Total Items in Store: 852
Items Sold: 19 (3 Amazon, 2 Facebook)
Cost of Items Sold: $96 (12.7% of sales)
Total Sales: $754.27
Highest Price Sold: $149.99 (1962 Barbie)
Average Price Sold: $39.70
Returns: 0 (1 buyer contacted me and might be returning, just didn’t like it and paying return shipping)
Money Spent on New Inventory This Week: $0
Number of items listed this week: 30
Promoted listings test: 8 sales, $331.97 (44% of total sales), $20.83 fees (6.3% of sales)Good to hear on the show this morning that others had an extremely slow early week with these glitches. I didn’t sell anything on eBay Monday or Tuesday (sold a couple thing son Amazon though). Also started dabbling in a FB group – have been lurking around for a bit, but finally put a few things up and so far everything has been smooth.
No picking this week as I spent a ton last week (nearly $1500) and had to get everything listed. Listed high on the luxury fashion items I had, we’ll see what happens. Also listed the shoes & sunglasses on Poshmark. Between Poshmark & FB selling groups, trying to expand my client base. Will report back if it’s successful or more work that it’s worth.
01/24/2018 at 10:15 am in reply to: Scavenger Life Episode 344: Decluttering and Auction Cravings #31205Zoo Line now on my BOLO list. Definitely knew about Orvis – often times when I find them, I keep the items like sweaters & jackets for myself since they’re very high quality (& expensive in retail).
01/22/2018 at 10:08 am in reply to: Scavenger Life Episode 344: Decluttering and Auction Cravings #30978Week January 14-20, 2018
Total Items in Store: 839
Items Sold: 11 (2 Amazon)
Cost of Items Sold: $89 (17.6% of sales)
Total Sales: $505.94
Highest Price Sold: $200 (1962 Barbie)
Average Price Sold: $45.99
Returns: 0
Money Spent on New Inventory This Week: $0
Number of items listed this week: 0
Promoted listings test: 8 sales, $231.93 (37% of total sales), $11.52 fees (4.9% of sales)Only 11 sales when I’ve been averaging 18-24 per week for the past few months, but I’m really pleased at the average price sold, remaining high for the third straight week. Outside of another Barbie selling, also had higher dollar sales including a 1983 1st Gen Voltron for parts.
Hit up 4 estate sales this weekend, spending nearly $1500. Three were standard bread & butter type stuff, but I went to the last day of an uber high end sale – got a pair of vintage Cartier sunglasses, Valentino sunglasses, vintage Chanel/Valentino/+5 eye glasses, 2 pairs of Valentino wedges, a pair of Chanel ballet shoes, 2 pairs of Karl Lagerfeld earrings, and more. I didn’t include these items in my purchases as I’m doing extensive research to ensure my listings are accurate and then likely list this coming Saturday (will provide links in next weeks’ posting).
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