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totally – i was encouraged by the growth. I did make a mistake on my report however — inventory value closer to 42,000 — but still encouraged by it.
So I loved the “realistic expectations” discussion combined with the humble portrayal of where you guys are today. Sort of a nice reflection of “overestimating” what can be done in a year and “underestimating” what can be done in a decade – or however it goes.
Had a flurry of returns this week – all of which were 100% my fault. Came to the realization that i need to give myself a few hours here and there to just relax and slow down to ensure i am not making costly mistakes. Returns have been backed out of my numbers:
12/24/17 – 12/30/17
Total items in store (beginning of week): 941
Items sold: 16
Weekly sell through: % 1.70
Total Sales: $429.01 (no shipping)
Average price: $26.81
Cost of items sold: $76.25
Gross profit: $352.76
Highest item sold: 1912 Excelsior Diary – Miniature Almanac & Remembrancer – San Francisco ($75.00 cost .28)
New items listed: 12
Asking price of new items listed: $838
Cost of new items listed: $27.88Month of December
Items Sold: 89
Average Sale price: 42.32
Items in store beginning of month: 869
Value of inventory listed beginning of month: $29,333.42
Items sell through for month: 10.24%
Revenue (minus shipping) / Asset Value: 12.84%
Value of inventory beginning on Jan: $46,979.61I will just echo that was a great interview – thanks to all involved. Sell through rate continues to be better which is good – average sale price was down. Continue to focus on increasing my efficiency listing.
Hope everyone is having a blessed Holiday Season.
Geoff12/17/17 – 12/24/17
Total items in store (beginning of week): 897
Items sold: 21
Weekly sell through: % 2.34
Total Sales: $504.60 (no shipping)
Average price: $25.23
Cost of items sold: $107.56
Gross profit: $397.40
Highest item sold: Djembe Remo signature series Paulo Mattioli Hand Drum 14″ x 25″ (170.52, cost 60)
New items listed: 34
Asking price of new items listed: 1323.25
Cost of new items listed: $ 283.51I don’t know about google – but i have found lately for ebay best match the titles that perform really good often can be 2 worlds – like “Estes Rocket” – and sometimes not using unnecessary worlds (or all capital or that kind of thing) is as important as key words.
totally — i have dealt with one, and only one, scammer. And for whatever reason i have to actively remind myself that fundamentally almost everyone is just like you or me — and Ebay does do a good job of keeping the marketplace fair.
So I just picked up the phone and called the people who bought the sink. An 82 year old woman bought it and i spoke with her son. I am so glad I spoke with them because they just seem so nice. Looks like my sale may go through — and i totally don’t mind helping the lady figure out freight now that i know they are actual people. For a little while i was trying to figure out how someone could be scamming me by depositing money into my pay pal account.
My take away is i need to get out more.
I think that thought is what i find most fun about this business : )
I sold my Cast Iron Utility Sink again this week for 490 and change. My wife cannot wait for me to get it out of the garage. First sale the woman blew off picking it up 2 times without calling and then asked to cancel the sale day 28. This time the customer instant paid but seems not to understand the local pick up thing and he is in Texas (Im in Ma.) Anyway — it is a great sale however i am afraid it is going to fall through again — its funny some items just seem to be cursed or something.
Week fell off a bit – hopefully the sink sale sticks otherwise it will hurt the week pretty bad.
12/10/17 – 12/17/17
Total items in store (beginning of week): 897
Items sold: 21
Weekly sell through: % 2.34
Total Sales: $ 851.52 (no shipping)
Average price: $40.55
Cost of items sold: $200.23
Gross profit: $651.29
Highest item sold: Mid century Cast Iron Deep Utility Sink 24″ x 21″x 13″ 1962 ($492.00 Cost $120.00)
New items listed: 49
Asking price of new items listed: 1774.46
Cost of new items listed: $ 207.83Actually this has dawned as me as well — and folks are doing it. Where i live there are stores that will take fed ex, ups or USPS (and other stuff) and they make like 50 cents per package to mail. They also offer packaging services, po boxes (i think their po box income pays their rent) and will coordinate freight, I actually will just send customers there for local pick up items who still want to ship and they will pack it for them etc… and i go there everyday because they will take any kind of package to mail.
Anyway — it makes a lot of sense especially if you want to get into real estate and live in an area where there are going to be a lot of sellers. In a similar vain i have been thinking about buying up on a bigger warehouse to rent to other sellers (turn a coast into an appreciating asset that hopefully would end up being free for me from a cash perspective)
12/3/17 – 12/10/17
Total items in store (beginning of week): 869
Items sold: 28
Weekly sell through: % 3.22
Total Sales: $1224.40 (no shipping)
Average price: $43.73
Cost of items sold: $253.57
Gross profit: $970.83
Highest item sold: Apple Macintosh 512k enhanced M0001 E & Image Writer II, 800K External, USA ($504.63 cost $59)
New items listed: 57
Asking price of new items listed: $2553.24
Cost of new items listed: $ 538.3Yea it would be great if the ASP could stay high. This has been my best week for sure – but i will keep the focus on the sourcing end and hopefully the trend will be where i want it over time. On a week by week basis the average is more like 34. But this week certainly counters the lower weeks.
Wow – that storage building is totally awesome. I am playing a maneuvering game in our garage and am totally dealing with major storage issues. Really great to see what you guys are doing!
Bigger developments for me — the wife is expressing interest in getting involved with the business – which is great. Looking at selling my old Sonata and buying a pick up truck. Looking for storage options. Accumulating a network of impromptu movers available to help me move bigger items all over Massachusetts and RI and transport them to (hopefully a storage facility).
Sales picked up some this week. More sales and some bigger ticket stuff — over the last few weeks i have been going after bigger ticket items and some have moved already — which is really nice. Hopefully with the wife helping more it will help me get back to my listing goal of 100 items per week. My main struggle has been getting everything i want to get done complete as a one man show. I have showed her the pod cast a few times hoping she catches the bug.
11/26/17 – 12/3/17
Total items in store (beginning of week): 867
Items sold: 22
Weekly sell through: % 2.54
Total Sales: $1101.24 (no shipping)
Average price: $50.06
Cost of items sold: $188.08
Gross profit: $913.16
Highest item sold: tsa 88 irongrip strength weight rack with dumbbell set 5 to 50 LBS – $225 (cost 60.00)
New items listed: 25
Asking price of new items listed: $1924.43
Cost of new items listed: $183.49Sigal,
I have been telling T-Salt or any of these clothing guys and gals that will listenthat what they really need is a Corby of Windsor Trouser Pant Press. Its a remarkable innovation and i happened to have torn one off a hotel wall and have it sitting in my store right now.
I agree T-Salt’s store is slick. Testing video games is never an issue over here.
