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Thanks for the video. I think the market for Birkenstocks may have slowed some, I also have some that are not getting play. I don’t sell many Tori Richards shirts but I think the pattern is the main factor if they sell quick or not. Personally, I am sick of clothes. I have a ton and can’t get them to sell, so I am gradually switching to other things. I have been listing vintage software, vintage toys (I like the die cast models when I can find them), and even some post cards and books. So far it is paying off, the last several weeks have allowed me to break out of the slow summer sells pattern. I was lucky to find a ton of vintage trucker hats at my outlet and an estate sell this week, so I am washing them and then will be listing them soon in my etsy store (over 60 hats, most are in demand styles).
For me the Poshmark sharing aspect is a little time consuming. I just try to click “followers” out of my main closet page, and then follow everyone who follows me. I share a few listings here and there as well just to make an effort of good will towards the community. As far as sells, the jury is still out for me. I think as an eBay clothing and shoes seller, I have seen more competition come in and prices tank. As a seller, I must adapt. Same thing happened with trucker hats, there was a time when you could get 30 bucks for them, now 15 is the going rate for the really cool ones. So back to Poshmark, I like that everyone there is there for clothing. It is a more targeted market. There are a ton of beautiful women on there, but the problem is I sell mostly men’s clothes. I do sell women’s shoes. I think I will just keep listing on Posh and see how it goes.
Rough couple of weeks for me in the resell business. First order of business to address is the eBay vanishing picture glitch. I have about 25 (some of my better higher prices items) items that have vanished as far as pictures go. Ebay says they are working on it but for now nothing can do. I am guessing something to do with the Summer sales update. My sells have tanked, but thankfully my other platforms are keeping me breathing. Rough numbers = Poshmark = 15 items, 3 sold for 90 dollars; FBA 3 items sold for 94 dollars; Etsy 6 items sold for around 100 dollars; eBay = around 15 sells for 450 dollars (the week before was only 300 dollars, the worst week I have had in 3 years of f/t on eBay).
So going forward, I think I am going to put more clothes and shoes on Poshmark, and switch to more toys, small electronics, and vintage items on eBay. I am also thinking about parts, I see old sewing machines and old Shwinn Bicycle parts go for good money, as do other vintage electronics. Thanks for the podcast!
My expenses are about the same according to godaddy books. Sells are slightly better than last year, I think I may be listing less. I think I need to find a side gig for the summer months when it can get slow for clothing sellers. I am looking into adding collectibles and getting ready for 4th quarter, and I know how to live cheap when needed.
Very slow week until Saturday and Sunday when I made up for the slow sales. I had slow sales this time last year until kids go back to school in August. I thought the extra shoes I have listed would help, guess not. I am weighing options, as I have to get my income up to survive. I had a neutral this week from a Canadian buyer who was made about the import charges, hopefully ebay can remove it when I call one day this week. I have been busy cleaning old sneakers and can pass along some tips. To clean the mid soles and bottom soles of old sneakers, use a brass bristle brush with some soap and water. Works wonders. Thanks for podcast.
I diversify, but other platforms take a back seat to eBay. I have an etsy hat store, an FBA store where I send in things I find at thrifts that are NIB, and also sell locally once in a while. My main problem is I love treasure hunting but hate listing, so I have to force myself sometimes. I need to improve pic and set up soon as well. I do think it is good to not have all eggs in one basket, but for now eBay is the king of the re-sell market. Week = eBay $711, etsy $50, FBA $80. Did not list much due to vehicle troubles.
Thanks Mark, I do check estate sells once in a while but haven’t had great luck so far. I will keep looking 4 sure. Recently, I visited a store that sells shoes in my area called “Marti and Liz shoes”, it had a big sign on the front door that said “no re-sellers”. I subsequently did not buy anything.
Yes, quarterly, but last year I made enough that I also had to pay up on April 17th in the tune of several thousand. And now my quarterly estimated is up as well. I will adjust and make it, and hopefully next years higher deduction will help. I am looking at selling local on offer up.
Concerning the question at the beginning of the podcast, I know I would do things different if I was just starting. For one, I would not sell used clothes and shoes. Instead, I would stick to vintage. The reason for this is simple. Vintage items are numerous and cheap. Thrift stores make you pay up for good shoes and clothes, and most everyone goes strait to the shoe rack when they enter a thrift. Also, I will be honest and say it sucks paying taxes. I grossed about 50k last year on eBay and FBA and the tax man KILLED me. Between eBay, Paypal, FBA, Etsy, and IRS fees, the actual profit isn’t that impressive. The only thing that makes it worth it to me is owning my own time and getting to treasure hunt for a living. You do get better at what you do and know as the time passes, so hopefully it will eventually pay off. I am staying positive and will continue looking for new sourcing opps., but it is naive to over look the pitfalls. Thanks for the Podcast.
Yes, they are speculation, but I do see adoption incoming. Craigslist now allows sellers to accept bitcoin. Agreed about us already being basically cashless. I have spent the last couple months learning all I can about trading and investing in them and I am very careful to never take a position that I can not afford to lose. So far I have made out very well, but with cryptos you must watch the charts constantly so you can sell if things change on a dime. Using them and trading the are 2 different things, and for now I agree there are many more stable investments. When eBay begins to allow payment in btc, I will be on board.
I like the new storage building. I am fortunate to have access to my uncle’s steel frame shop building, granted he only lets me use the back part and the attic (He is now retired but very particular). I have been selling as usual on eBay, etsy, and FBA. I am focusing on shoes and clothes on eBay, and sales have been steady but there is always room for improvement. I use my etsy income to trade cryptos on Binance. My favorite crypto is Iota coin, which has made me some decent gains. I think cryptos will be the new money in the future once regulation gets sorted out and of course the feds want a cashless society on a block chain so they can monitor everything. I look for some scrap gold jewelry now too, I hear it is very undervalued. Have a good week!
I once had a guy email me and ask for me to donate some size 56 pants for his wedding. He said he had cancer. I asked for pics and he sent me some with a towel over his head. Yet his goatee was still in tact. I did not want to question him because I would feel horrible if he really did have cancer and I do know what it is like to be poor. I sent him the pants. He probably conned me, I guess I will never know.
This week I ate some bullets on both eBay and etsy. I found some Christian Louboutin sequin heels at Goodwill for 9 dollars, and foolishly listed them for 300 BIN. They were taken down by eBay. I guess I am at 4 or 5 strikes now 🙁 Then on Etsy I got hit with 2 Dolce & Gabbana strikes. I swear I thought they were real, but these came from a DG lawyer in Italy so no need to fight it. It is driving me to explore other options s/a Offer Up, which also seems to be a great place to find some stuff for eBay.
MDC, yes, I do. I do think it depends on the things you sell. I am primarily a contemporary clothing and shoes seller, and both of these venues are very competitive. I think it helps with search results when buyers search items with free shipping. I simply figure the shipping into the cost. Sorry for the late reply, it has been several days since I logged in.
Sells have really improved over the last 6 weeks. I used the slow summer to trim the fat off my store and make some adjustments, and it looks like they helped. For one, I now sell most things with free shipping. Sells seem to have picked up as a result. I also now try to list higher quality items, which as time has passed I have gotten better about finding. I hit my 1st 4,000 dollar month this month on eBay, with close to 1k on etsy and several hundred on FBA as well. I plan to scale up etsy and have some niche craft items to list soon. Now if I can just keep the rat wheel spinning fast without stopping.
