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01/23/2017 at 9:36 am in reply to: Scavenger Life Episode 294: Finding the Valuable Caches and Going All In #10942
Week of Jan 15 – 21
* Total Items in Store: 602
* Items Sold: 21
* Cost of Items Sold: $22.26 + 51.14 Commission
* Total Sales: $435
* Highest Price Sold: $50 Winter scene oil painting
* Average Price Sold: $20.71
* Returns: 0
* Money Spent on New Inventory This Week: $121
* Number of items listed this week: 42I am pretty sure that this was my best week ever! I was somewhat disappointed with holiday sales, but apparently my items are better for the people that want to buy for themselves and not for gifts.
I purchased the oil painting in May last year for $2. I had it listed for $80 and took a best offer of $50. That was a long tail item worth waiting for!
The money I spent on new inventory was $45 for two items at an estate sale and $76 for 9 lots in an online auction. I realize why I like online auctions so much. I don’t negotiate well at estate/garage sales. The one I went to had just opened an hour or so earlier, and I saw that they weren’t negotiating much. I didn’t have time to go the second day when I would be more comfortable with asking for a lower price, but I did get a large hand carved wood chess set and a very old sewing machine in working condition!
About 9 of my sold items are on consignment for a family friend, and my COGS show how much I owe her. Most of the items I listed were her items as well. I have a number of her items yet to list, but I’m going to take a break and list some of my new inventory.
01/19/2017 at 7:01 pm in reply to: Scavenger Life Episode 293: How To Hire Your First Employee #10734Well, I was under the impression that the protection was more substantial, so thanks for putting me straight. I’ll keep re-registering, though, just in case I do end up needing it.
01/19/2017 at 7:57 am in reply to: What Sells On eBay: Record stands, Lava Lamp, Jackets, 1933 Chicago Worlds Fair Lamp, Hot plate #10687A few of my interesting sales for the week:
When I first found the Scavenger Life website, the What Sold videos showed a number of sales of vintage camping gear. So, I purchased a vintage sleeping bag at an estate sale for $5, in April 2016. Once listed, it sat around with very little interest. Since I had less than 50 listings at that time, I was constantly checking on it. Once I had more listings, I stopped obsessing on it. In true “list it and forget it” fashion, it finally sold for a best offer of $35:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182099346306I had a few offers of $20 for this wool blanket that were just was a little too low. I finally got an offer of $26, which I accepted. It was part of an online auction lot, and the cost was mere pennies:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182207168240Here is another online auction purchase, which cost me $8.80. It is part of my goal to buy higher priced items even if it means a lower ROI. This was a unique item – a bar plaque made in the former Soviet Union. I sold it for a best offer of $40:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182394888645Lastly, this is not all that exciting, but here are a pair of New Balance sneakers that I originally mis-listed as being women’s. I had to take a return, and I re-listed them correctly as men’s. Hopefully, they stay sold. Sold for $35, paid a dollar or two:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182320617752It is a balancing act between wanting to make a sale and wanting to get a higher price. I need to balance the two. I try to price my items a little high, so I’m OK with reducing it a bit to make the sale.
I think you are right. As a newer seller, I just hadn’t thought about it much. Maybe it was something mentioned on the podcast or maybe something I realized, but I decided to try it and document it in some way. Jay suggested to have data behind your statements, so I am gathering the data.
I have an offer out right now, but I’m not so sure about it. The question was about a sugar and creamer that I listed last spring, just as I was starting to make a go at the eBay thing. I looked at it closer today on request, and I found a defect. So, I offered more of a discount to account for the defect, and I’ll see whether she bites or not.
01/17/2017 at 9:30 am in reply to: Scavenger Life Episode 293: How To Hire Your First Employee #10516Week of Jan 1 – 7
* Total Items in Store: 581
* Items Sold: 14
* Cost of Items Sold: $43.22 + $16.46 Commission
* Total Sales: $350
* Highest Price Sold: $40 Soviet Union Wood Bar Plaque
* Average Price Sold: $25
* Returns: 0
* Money Spent on New Inventory This Week: $0
* Number of items listed this week: 35Good week for me with a decent average price sold. Recently, I was given some stuff to sell on commission from a family friend. She gave me jewelry that is mostly sterling silver, so that stuff sells really well. Of the 14 items sold, three were hers. Most of the 35 items I listed were jewelry.
The $40 bar plaque was from an online auction I did at the end of the year. I bought it for $8.80. This is part of my goal to spend more for a higher profit, but lower ROI. I’m very happy with that sale, and I’ve now sold 3 of the 9 items I bought.
I had an issue with the USPS. After I came back from my year end vacation, I had a large number of items to ship. One of them was a car repair manual sent media mail. I brought it to the PO on Jan 3 or 4, but it didn’t get scanned until 13th, about 9 days late. The buyer had contacted me on Jan 9 asking why I hadn’t shipped it, and I replied that sometimes media mail doesn’t get the tracking that other mail does. After the tracking info finally showed up, I sent a second message saying that it was now on its way, but I didn’t know why there was a delay in the shipping. So, I’ve got two potential issues. One is that my customer might not believe me and could ding me for the slow handling time. The second is that eBay will automatically ding me for the slow handling time.
I’m fixing the issue for the future by not putting anything in the drop boxes, but, instead, standing in line and getting the items scanned right there and then. I’ve had similar issues on a few first class packages where the tracking didn’t show up until the item made it to its destination, so I feel that this is necessary. It is a pain because I can’t drop off on a Sunday or holiday (like MLK holiday yesterday). I know it won’t affect my 1 day handling time I have on some of my items, but I feel like I’m not shipping fast enough. I’ll have to get over it.
One last thing – just a comment on the podcast – I registered my company, in my state, as a single person LLC. I originally did this based on different plans I had for a business at that time. I had to reregister at the end of the year and pay a $50 fee. I still have plans to expand my business into something else other than eBay, so I’m sticking with it. It does protect my personal assets should someone sue me. I realize that is very unlikely, but I set it up, so I’ll keep with it.
Since my first post on this subject, I responded with offer twice and made a sale both times.
The first was for a framed needlepoint where the buyer asked about hanging it.
The second was for a wallet. The buyer first asked about a wallet and whether the bills would lay flat. When I showed that the bills had to be folded, she found another of my wallets that she like better. I tried to give an incentive to buy both, but she didn’t bite. Nevertheless, my responding with offer did end up in a sale.
So far my experiment is 3 for 3, but I was 1 for 11 before the change in tactics. I’m liking the results so far!!
01/12/2017 at 4:04 pm in reply to: What Sells On eBay: Tori Richard Harley shirt, Candle stick, Alabama sweatshirt, Danner boots, Turntables #10176I love how your cat gets along so well with your dog. I have two cats, and, at their best, they tolerate each other, but sometimes they don’t.
My favorite sales from the past week:
This needlepoint of a siamese cat only sold for $15.50, but what was so great about it was the feedback “I am SO happy with this!!!! It hangs just fine! Thank you thank you thank you!!!”:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182376226306This is a vintage light fixture that I bought at an online auction. It was described as requiring some cleanup, but when I got it home I found out it had paint splatters that required strong chemicals to remove. Rather than spending the time on it, I just washed it up with dish detergent and listed with the paint at a lower price. Still happy with the sale; Sold for $30, paid $4.40:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182394924939Week of Jan 1 – 7
* Total Items in Store: 560
* Items Sold: 12
* Cost of Items Sold: $15.66
* Total Sales: $122.82
* Highest Price Sold: $30 Vintage Porcelain Ceiling Light
* Average Price Sold: $10.24
* Returns: 0
* Money Spent on New Inventory This Week: $0
* Number of items listed this week: 10ishI was away for the last week of 2016, so I didn’t spend anything on new inventory. I was given stuff to sell by my family and some friends, so I’m working on listing that now. Sunday and Monday has started out pretty well, so I think my numbers this week will be better.
I was away between Christmas and New Years, so I am catching up. Here are my past two weeks of sales:
Week of Dec 18 – 24
* Total Items in Store: 550ish
* Items Sold: 9
* Cost of Items Sold: $41.50
* Total Sales: $192.10
* Highest Price Sold: $40 Fratantoni Italian Terra Cotta Ceramic Sun Tile Address Plaque
* Average Price Sold: $21.34
* Returns: 0
* Money Spent on New Inventory This Week: $0
* Number of items listed this week: about 20ishMy higher cost of goods is due to a pair of boots in great condition that no longer fit my daughter. I chose a cost close to the sale price since we owned it.
Week of Dec 25 – 31
* Total Items in Store: 555
* Items Sold: 9
* Cost of Items Sold: $18.29
* Total Sales: $231.80
* Highest Price Sold: $50 Lenox Jewish Seder Plate
* Average Price Sold: $25.76
* Returns: 1 Insurance payment for casserole that broke in shipping (set of 2, only 1 broke)
* Money Spent on New Inventory This Week: $0
* Number of items listed this week: 0 (out of town)The Seder plate was something I bought in an online auction during the summer with 4 other Lenox Jewish items. My mother actually had the same Seder plate, so she wanted three of the other items because they coordinated with the plate. I gave them to my mom and dad as a Chanukah gift, so that was about $100 I didn’t have to spend – almost like making a sale!
Both weeks were good in that my average price was higher than normal, but the number of sales was lower. This is actually part of my strategy, but I am disappointed that I didn’t sell more items during the holiday season.
12/24/2016 at 4:41 pm in reply to: How do I change handling time while a buyer hasn't paid up? #8746Thanks for the reassurance. I did send an email yesterday asking that he pay by tonight or it wouldn’t go out until Jan 3. I just sent a follow-up email reiterating that point and asking him to contact me if he had any issues (and mentioned that an unpaid buyer case would be opened if nothing happened after 4 days).
I’m a small seller, so I am concerned about a ding however small.
I’m wondering if I sent him an invoice whether I could change the handling time there. I really don’t want to do that, but just wondering.
Anyways, thanks for answering my questions and happy holidays!
I took a quick look at the link for the USPS. For the new prices, they give you over 60 Excel spreadsheets and use acronyms for everything. I can figure some of it out, but it takes work.
I did figure out that the flat rate padded envelope is increasing from $6.80 to $7.20. I can reasonably assume that the discounted rate that eBay gives us will also go up by about $0.40.
I think that the $0.47 price for a first class letter is going back up to $0.49.
I’m not sure about first class packages. I’m not familiar enough with current vs. new rates to say how much prices are increasing. I’m assuming for now that the prices won’t go up that significantly where I need to increase my prices for items that include shipping.
12/22/2016 at 10:15 pm in reply to: What Sells on eBay: Yamaha stereo, Man from U.N.C.L.E. costume, Turntable, mismatched boots. #8659I “found” a few things around the house that we didn’t need anymore. These two sold within days of listing:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182394849022
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182394865586I was surprised that this wallet sold through GSP to someone in Canada:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182312208693My more interesting sale was something that I bought in the summer for $5, and I had an offer when I got up this morning for $50. They haven’t paid yet, but hopefully it will be paid when I get up tomorrow:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182188964364I am also planning on getting rid of lower price and slower moving merchandise and focusing on higher value. This past year I bought some household dishes, cups, and such because they were so cheap. In an online auction during the summer, I bought the contents of two cabinets for $1 each. It’s been easy to make money on it – all I needed was one sale, but it moves so slow, it is hard to pack, and it takes up lots of room. In the new year, I will put it on 50% sale. I don’t know if that will be enough to unload it, so I’ll most likely go to a flea market in the Spring or Summer, and get rid of the rest of it.
I do need to add clothing. I bought winter stuff pretty cheaply this past spring, and it is paying off now. I’ve never been to the GW Outlet in my area, so I’ll do that at some point. See what this weigh and pay stuff is all about. I’ll continue on the online and live auctions, but just being more careful.
Yes, my sales were slow this week as well. I sold nothing on Sunday or Monday. I did sell three things this morning (Tuesday). I don’t have a reason for why this morning is different than yesterday’s. Like J & R say, maybe no-one wanted my stuff until today.
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