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Starting in May 2018, we will streamline our returns policy options. Buyers’ expectations are continuously evolving and we strive to deliver a returns experience that is consistent and competitive with the changing marketplace. Our simplified return policy options will help drive a retail-standard returns experience for buyers and may boost your sales. We recommend that you begin changing your returns policies now.
Regarding the automation of removal of restocking fee’s — my guess is since it will no longer be an option we would not have to do anything but I would assume no one has a way of really knowing for sure at this point.
Yes good point. Much like how local pickup now does not qualify for top rated.
yes thanks for pointing that out. Looks like the are holding over their previous understanding about the requirements for this one segment. I am hopeful that their will be a lot more detail regarding specific segments and that Ebay will avoid making large sweeping assumptions for the market at large. Traditionally Ebay is very aware that each category is its own beast.
T-Salt, as usual you are giving very sound advise. And to Jay’s point about return rates, I think your earlier assumption of looking at a 2x sceneries is prudent. My concerns are the following.
Right after I earned top rated EBay cut the discount from 20 percent to ten. Now EBay is making this sweeping change that, from what I can tell, will lead to unknown results. For my business what does a free return look like on a vintage stereo cabinet or receiver or a mid modern table? My return rates are very low now, but what if they jump 3x or 4x? What does one really bad free return do to one months cash flow in my young business? Right now it’s all about cash flow without room to spare.
I totally agree that looking at empirical data is the first step. But based on what I understand now this is rocky and I cannot see a great option. Ultimately, EBay may be forcing me largely out of top rated. If that is the case I will want to hear from EBay executives how they really are a partner with my business as they claim.
So yes, I will take your advise on the numbers but I am not ready to make sweeping and major changes based on EBay “having my back”. Frankly this shows me why it may be sound to be on multiple platforms and gives the impression of EBay being all over the place with the frequent changes, but I’ll have to see how the next few months unfold and don’t want to be too reactionary.
Here is something
1949 AUTHENTIC FRED DRESK ALL AMERICAN SOAP BOX DERBY AWARD FRAMED
SOLD FOR:$1,999.99
SOLD DATE: Jan 27, 2017
SOURCE:eBay
WORTHPOINT CATEGORY: Advertising
ORIGINAL CATEGORY: Collectibles : Advertising : Automobiles : Other Automobile Ads
This belongs to a client it is a original soap box derby award 1949 Fred dresk award it is framed approx 30by 30 it is a original and is in rough shape has water stain marks and bottom of frame has looks like termite damage this is a rare piece could not find another one sold as is no returns at all if you have any ideas on the history please let me know sold as is authentic No returns at all �For folks like myself and a lot of others on the forum it seems like ‘the devil will be in the details’ around the free returns. I can see it making sense for shirts but i am having a difficult time wrapping my head around the benefit / risks with more high dollar sales / big shipping stuff.
I am sure Ebay will adapt as well shortly after all of this really kicks into gear. An example comes to mind — in the coins / bullion space if you sell gold, silver, as opposed to a coin that has numismatic value alone, you are exempt from TRS requirements around the 30 day return due to fluctuation in silver and gold price / ebay protects sellers from folks hedging and scamming around these price changes. These days Ebay seems to be taking the competition to retain sellers almost as seriously as buyers and preach making ebay the most “profitable platform to sell on” — so the amendments to the new rules that surely will follow initial rollout likely will be seller friendly to account for seller backlash. For this reason i am going to take a bit of a wait and see approach.
So actually I had a real life example of what i referred to on the last email unfold this AM. One of my new years resolutions is to return more value to places like this forum, so hopefully this helps someone. The 2017 Geoff would have either a) ignored the request to break up an auction b/c i did not want to take new pictures etc.. or b) told the person no (mistakes). The 2018 Geoff spends 45 seconds to attempt to spin the situation to my liking. In this instance it resulted in a person paying 100% of my asking price (i had best offer on) and i still have 99% of the product (the actual fan). Way better way to do things on multiple levels as now that i got full asking price i can just relist in the same motion as i pack up a sale.
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That will work. 30.68 plus 3.49 shipping. I will purchase now and will watch for the shipping refund. Thanks.
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Your previous messageSure I’ll refund the difference in shipping after you pay. It would be flat 3.49 first class to USA shipping
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Hi–I don’t need the whole fan, but I could use the red ring in the center of the cage. Would you be willing to sell just that? It pops right off with a little careful pressure at the attachment points. Just let me know.
Thanks.Something I had to retrain myself is ‘to never say no.’ Generally, when a customer asks if they can only buy x I will say ‘Sure I’ll refund the difference in shipping after you pay. Shipping will be y.’ Then I stop talking and see what they do. Basically I am leaving open the chain of events that they pay me full or most of the price if it will multiply my end profit. Rule number one in sales is when a customer is reaching for their wallet take the money and make it simple.
Now if it just does not make sense after their offer or if the request is obnoxious I ignore or say I am not interested plainly, sometimes preemptively blocking obvious problem buyers.
So wow – I had a bad listing week. Looking back at the week I see that on a personal level it was just challenging. Nothing bad by any means; 2 young kids, working at home with a bit of extended family drama stuff scattered in. This morning I kind of looked at everything and had to acknowledge it is difficult at times. This business is all me and it is a lot of work.
This week and going forward the focus for me is “emotional intelligence” – no matter what, even if there is a day where something happens and i don’t have the best listing day or whatever, I am jut going to do what i can to be consistent and pick it up by creating the time i need to get something done to move in the right direction.
My goal is to get over 100 listings this week and every week and will stay focused on getting to 2,000 by the summer / 3000 by years end. I think likely this is a tall task with one person but remain confident that i can do it. With the nice weather i have gotten back into the running and that goes a long way keeping me balanced as it will be a grind obtaining the above goals.
2/18/18 – 2/25/18
Total Listing in store (beginning of week): 1202
Total items (including multiple item listings): 1323
Value of inventory listed beginning of week: $ $39,828.42
Value if inventory listed end of week: $ $40,511.20
Items sold: 22
Weekly sell through (based on number of listings): 1.83%
Total Sales: $ $654.56 (shipping backed out)
Average price: $ $29.75
Cost of items sold: $ $164.94
average cost of item sold (pre fees): $7.50
Gross profit: $ $489.62
Highest item sold: Bronze Coal Hod – sold 170 cost 91.64
New items listed: 18Deep down i believe i have never been smart enough for apple products.
Ok – so I found the solution. My wife is trying to get more into the business between the kids and dealing with me in general, so she is starting to help with photos. She has an Iphone and i got the ap going with her — THE IPHONE AP is TERRIBLE – along with everything else about Apple minus the camera itself. Go to best buy or online and buy an Android phone. Its great – they are open and you can like use anything you want for storage back up and power cords and such.
Hey – I called Ebay about my return – 5 minutes later i have a reference number and a rep telling me no worries the buyer is wrong. Don’t do anything just call us back if the buyer escalates.
Too often in life myself included we propagate the negative. While there are problems here any there, Ebay has over and over backed me up. Pretty cool!
Timely explanation on the return as item not as described in the podcast. My largest sale of the week, the Boston Chandler desk legs, a buyer puts a return request for a broken leg and says cannot figure out how to attach a photo. I cut and past my item description and attached a photo from my listing asking, do you mean the broken leg i site in the item condition and the photo i took of the leg reattached here?
Who knows – i guess if he does not respond i will have to accept and challenge the case. Good to know i won’t be billed without having the chance to appeal for the shipping at least. Helpful as always.
2/10/18 – 2/17/18
Total Listing in store (beginning of week): 1164
Total items (including multiple item listings): 1246
Value of inventory listed beginning of week: $39,338.91
Value if inventory listed end of week: $39,828.42
Items sold: 24 (one cash sale)
Weekly sell through (based on number of listings): 2.06%
Total Sales: $570.97 (shipping backed out)
Average price: $23.79
Cost of items sold: $277.79
average cost of item sold (pre fees): $11.57
Gross profit: $293.18
Highest item sold: Boston Chandler Desk Legs 120.00, cost 70
New items listed: 62
Asking price of new items listed: $1,015.48For the record – i was laid off as well last April. I just sort of dove in and did not look back. While i am not where i need to be yet, I know i will make it there and things are ok (and i am having a lot more fun now.) I am not nearly as experienced as some others but here is what i have learned (a lot from this forum). For full transparency — I did and do have a cushion that helped me “brave” the venture and i always have been a saver, nonetheless the pressure is real and of course at times it is scary. Here is what has helped me:
– do your weekly numbers. Copy someone who is really good at it, and then make it how you want to see them and how they help you. The longer you do the numbers the better they get, and the better they help you see your path forward and what needs to happen to make it work. Ultimately advise from others does not get you very far beyond getting started – you need to know your business and watch it closely to develop your strategy based on empirical data.
-selling the stuff that is given to you, or laying around the house, is great. However, remember that this stuff likely is not going to be as good as what you hand select via picking and sourcing. I have listed a lot of less great things that will be long tail — and had to remind myself to get out there and find the cream as well. Personally i look at getting through some of the less great stuff as things just to help me get better at listing.
-Develop a strategy sourcing – know what is in your strike zone, and do not swing at pitches outside of your zone. Know how much profit you want to make on an item to spend x, how much if you spend y. Understand if you sell a lot of different products what takes you more time to list and factor that in. I developed and keep working on my own formula. For me since i work alone I feel like being disciplined is all the more important.
– Focus on getting really good at listing. I am always working on this myself and am not where i want to be. But if you are just outstanding at getting really great listings up really fast, and as long as you are good at sourcing, nothing can stop you. There are some who are a lot better at listing fast than most (amazing taste comes to mind) – but have the mindset at getting better than what is normal listing. Look for ways to hack each business process.
-Fix the small leaks. Little costs add up more than you realize.
-For me personally i am at just under 1200 listings and need to get to 2,000 by the summer and plan on going to 3,000 before i think about hiring. Keep doing your numbers and you will come up with what is right for you based on sell through rates and average price sold etc… Know what percentage of your items sell in a day on average, figure out your medium and longer term goals, then develop a daily plan of small steps that get to the medium goals and long term goals. Then hold your self accountable.
– Stalk the sellers you admire (in a non creepy and nice way.) Ask them questions.
Good luck and i hope you enjoy the process!
