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Week of Apr 23 – 30
* Total Items in Store: 753
* Items Sold: 13
* Cost of Items Sold: $41.04 + $0 Commission
* Total Sales: $270
* Highest Price Sold: $42 Brass Barometer
* Average Price Sold: $20.77
* Returns: 0
* Money Spent on New Inventory This Week: $20
* Number of items listed this week: about 35It was an average week for me, but very inconsistent. Sunday and Tuesday I had no sales, but Wednesday I had four. Weird.
COGS is a little high because $25 were two items we owned.
I went to an auction of mostly new items on Tuesday. They sell overstocks, refused shipments, returns, etc. I keep going, but never buying anything. They sell stuff by the piece, so if there is 100 items in a lot and the bid is $2 each, then the total is $200 plus buyer’s premium. So, I have to decide whether it is something I can sell and make good money on, then I have decide the max price I’m willing to bid and make sure that I can obtain the correct amount of cash to pay, and, lastly, I have to determine if I have enough room to store the items. So, I hesitate at bidding. I’m planning on selling low cost/low interest items at a flea market next weekend, so I’ll have more room. My goal is to make room so that I can actually buy something at the next one. These auctions happen every one to two months.
I did buy a 10 volume set at my local library’s book sale called The Century Dictionary and Cyclopedia published in 1899 & 1900. Two of the books have issues and, in general, there is wear, but the pages are still in good condition. I’m working on listing them now.
What a disaster! Thank god for small miracles that her kids were not with her. She certainly has my prayers. Keep us informed on her progress.
Were the people in the other car were hurt as well?
As far as being worth it, it depends on the value / price for the item. If you list something for $10, how much would you get after it sells? Probably not worth it even if your commission was 50%. Were you to sell the Mercedes (and I’ve never sold a car on eBay), yes, that would be worth the commission. (I don’t know if eBay is the best place to sell a car or not.)
You would need to decide the minimum value you would want to sell (maybe $30?), and either refuse less expensive items or group them up in lots that at least meet your minimum.
Then you need to decide your commission rate. I do consignment for a family friend. I will do less expensive items because I am doing it partially as a favor. I decided on a commission fee of 50% up to $100 and 35% above that. For something higher than a few hundred, like a car, probably the commission should be lower. I originally set the 35% at a value less than $100, but decided that it wasn’t worth it.
I do not take the eBay & PayPal fees out prior to determining my cut, so I am really taking less than 50%. I do this mostly out of laziness. You should decide whether to take out the fees (about 13%) and/or cost of shipping supplies prior to determining your commission.
After that, as mentioned above, you would need a written agreement (to include all your decisions above). I do not have one, just agreements in emails back and forth. Another friend asked me about consignment for her, and, if I do it, I will make sure to get something written.
OK, thanks for the quick reply. Looking through eBay “help” information (notice the quotes around help), it says to print out a label directly to get tracking. It doesn’t list an exception for first class letter. Of course, their “help” information is pretty sub-par as far as websites go, so I’m not surprised.
Steve – I love that one of your dogs is named Norman, also my dad’s name!
This back massager is made by a company called Nikken. It has magnets that are supposed to help with pain. I don’t know that it works, but products from this company sell well. This was sold on commission at $40 for a family friend:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182495539810My week was certainly boosted by a lady who purchased four items from me on the 18th. She said that she was buying for her niece who likes the color purple. This large purple purse with coordinating wallet was the most expensive item she bought at $34. My sister gave me the wallet and that family friend I keep mentioning gave me the purse, completely randomly, and I decided to sell them together.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182411648185Here is another item on commission from that same family friend. It sold for $37 including shipping (about $4). I’m pretty sure it was purchased by one of those forwarding companies. I’ve sold to just a few, but their MO is very similar:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182428716656On the commission items, I pay her 50% after shipping but with the eBay & PayPal fees. For the purse, I will take out some money for the wallet. It is a coincidence that this week my higher priced / more interesting items were mostly hers.
I thought that prescription medicines weren’t allowed for sale on eBay, or is this an over-the-counter med?
Seems like I was affected by the PayPal bug mentioned in the podcast. I just opened my Discover Card bill, and PayPal charged shipping to the card from April 4 – 18. I had plenty of money in my PayPal funds during that time. For some reason, it switched back to PayPal funds after April 18. What a pain.
Jay and Ryanne: Totally different subject – During last week’s podcast, you guys were talking about driving several hours to pick up some hardwood flooring found through Craigslist. I was just wondering how that went. Was it good? Did you end up buying it?
Week of Apr 16 – 22
* Total Items in Store: 753
* Items Sold: 13
* Cost of Items Sold: $7.95 + $33.95 Commission
* Total Sales: $225 ish
* Highest Price Sold: $40 Nikken Magnetic Massager
* Average Price Sold: $17.30
* Returns: 0
* Money Spent on New Inventory This Week: about $20
* Number of items listed this week: 4I had a pretty decent week of sales, but this weekend really slowed down. I had no sales Friday or Sunday. I also had a $100 offer on a leather bag Thursday, and the buyer did not pay. When I contacted him yesterday, he replied that he made a mistake, so I cancelled the sale.
I have not been listing much because of my vacation two weeks ago, and I was playing catch up this past week. I’m now ready to get back to listing, listing, listing!!
I was away for last week, but I did well despite the extended shipping. Since I came back with 21 items to ship, I decided to do a video, which covers more than just the past week.
Here is a bit more on some of the more interesting items:
This is a Harmony Kingdom collectable box, artist made in the UK with crushed marble. My brother-in-law gave me his whole collection, so I paid nothing (although I owe him and my sister a meal) and sold for $87.80 (came to $95 with shipping). It was worth more than the others he gave me because it was signed by the artist at the 1998 International Collectible Exposition in Rosemont, IL and had a limited edition.
http://www.ebay.com/itm/Harmony-Kingdom-1998-Tin-Cat-Cruise-Special-Edition-Signed-IL-ICE-Event-TJROSE98-/182381403532?rd=1I have showed up to an overstocks and unclaimed merchandise auction a few times, but I’ve been hesitant to buy anything. Last Fall, I ended up buying 25 bags & purses for $2 each from a guy who won the lot. Up to this week, I had only sold one of them. A few weeks ago, I changed them all to Best Offer and removed free shipping, and they’ve started to sell close to my original asking prices. I’ve been selling more purses and wallets in general right now, so the Spring season must also be helping sales. This one is called a flight bag:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182342788078This massager with magnets from a brand called Nikken was sold on commission for a family friend. All the items she gave me from Nikken have sold very quickly. I had it up for $89, but took the offer of $40 when I found that most of the used ones went for around that price. The ones that were higher in price were new in the box.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182495539810I leave feedback when tracking tells me that the buyer has received the item. My thought process is that it might remind the buyer (since he/she is probably happy with the item) to leave positive feedback as well. Since I check tracking most weekdays, I usually leave timely feedback. I have nothing to back this up, but that is just what I decided to do.
I once had a Grumpy Buyer (TM) trying to get money back, and I thought I’d ask eBay to remove my positive feedback. I don’t know if that is possible, but I didn’t want to waste my time calling eBay again. You just have to move on.
Week of Apr 9 – 15
* Total Items in Store: 757
* Items Sold: 15
* Cost of Items Sold: $24.99 + $24.73 Commission
* Total Sales: $321.68
* Highest Price Sold: $87.80 Harmony Kingdom Collectible Box
* Average Price Sold: $21.45
* Returns: 0
* Money Spent on New Inventory This Week: $0
* Number of items listed this week: 0I was on vacation this past week, so my sales were pretty strong considering my extended handling time. My slow weeks were more in mid to late March.
Today was spent packing and shipping. I use bulk shipping, and I edit the shipping information for each item as I pack it up. I print out the scan sheet at the end. I don’t know if that takes me longer, but today, lugging all my items into the PO with a hand truck, I know that the people behind me in line appreciated how fast I finished my turn. It was busier than normal due to tax time.
I didn’t list or buy anything because of my trip, but my parents gave me half a trunk load of stuff. It will keep me busy for the next few weeks!
I like flea markets and yard sales, but I find that the good stuff at low prices can hard to come by. Once I find a good sale, though, it can be better than the auctions. Last year, I bought a set of 10 Jadeite cups and saucers plus a few bowls for $5. I doubt I could get that price at an auction!
Mike –
I read through the eBay policy at the link you provided. I don’t see where it specifically says that it is against their policy to include shipping in the best offer. They say that shipping is not included if a cost is listed, but that doesn’t mean that a buyer is not allowed to change that.
In addition, after you press the accept offer button, it takes you to a screen to finalize the deal. There is a statement to the affect that you accept the offer plus any other terms specified by the buyer.
Anyway, sometimes I have best offer on more costly items where I don’t know the value, and sometimes because I am trying to get rid of something. If I’m trying to get rid of something, then I’m willing to include shipping. I just miss the buyer’s message sometimes because it’s not very visible. I’m actually on vacation right now, so I think I just wasn’t paying as much attention as I usually do.
I do like your suggestions on how to use the comments. Perhaps I’ll try including something similar in future Best Offers. I appreciated your response to someone else on the vacation/extended handling time message, and I’ve been using a version of it this week.
Great video Steve – I have several old keyboards that I need to check for working condition before I list. I’ve been lazy about it, but they were free for me.
My more interesting sales for last week:
My big sale was a set of 12 Fitz & Floyd dragon napkin rings. I bought them for about $10 at an online auction, sold for best price of $180:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182517223132This isn’t a big sale, but I do commission sales for a friend of my family, and she had a silver plate tea pot set for me to sell. It was stored wrapped in plastic, but, when I opened it, I found that the pot was corroded in sections. I listed the whole set as $29 or best offer, and accepted the first one to come along, which was $16:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182465298635I purchased some new bags/purses at an auction for overstocks. They have been listed for months with only one sale. I changed all of the listings to best offer, and finally they are starting to sell. I bought each for $2, and this one sold for $15. I haven’t given up on new merchandise, but I wouldn’t buy these again:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=182343075980
