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Congrats on 300! Thank you both for all the great conversations and information you have provided over the years!
Total for stores (Only listing main store as there were no sales or additions in the t-shirt or postcard stores)
Items in store: 163
Items sold: 4
Total Sales (not including shipping): $87.97
COGS: $17.20
Highest sold: $39.99 Timberland Waterproof Shoes
Net profit: $61.28
New inventory purchased: $19
New listings: 0This is going to sound odd, but I was happy for a slower week since my biggest focus right now is wrapping up the house project. We are shooting for occupancy permit on Friday. I spent most of Saturday putting up tile in the second bathroom and getting a few other smaller projects done. We are so ready for this to be finished since it is eating up all our free time. We have one more shower to tile and then a few small projects to knock out for the final bank inspection.
Brian, that remodel looks amazing!!! Sorry to hear about your added frustration with the contractor at the end.
I just discovered that Google Maps has a button for “Your Timeline” and I was able to go back months and see my driven miles, routes, and stops on my phone. It has these routes for driving automatically…..actually, it shows all movement. For ease of tracking mileage, I’ll leave it on, but it is a bit creepy that Google knows where I went to lunch today.
Week 2/20-2/26
Stores (Main/T-Shirt/Postcards)
Total items in Store: 172/118/10
Sales: 5/0/0
Total Sales: $150/0/0
COGS: $16.50
Highest item – $60 pair of Cole Haan Military style boots
Avg Sale price:$30
Net Profit for week: $108.28
Spent on new inventory: $41
International: 0
Returns: 0
Items listed: 4/2/0Okay week for me. Started pulling my COGS together for taxes. We have an appointment with our tax lady tomorrow at 8 PM, so I pushed it off way too long. I’ve already started tracking current COGS better so next year will be easier.
Took some time and organized a bit of stuff. Also got pictures taken of a pile of shirts so they are ready to list when I have a few free minutes here and there.
I’ve been more active with the online auction I frequent. They had a three day auction over the weekend and I go pick my stuff up tonight. Nothing too notable and mostly just bread and butter stuff. I have a few live auctions I’m looking at in the next few weekends, but the house is still a priority so I may not be able to make the time. April is starting to look good for auctions and my go-to auctioneer is liquidating an antiques store in May. He did tell me that another one in April will be good for the things I typically go for. Here is a link to his website if anyone is interested in seeing what kinds of items I have in my area:Gilligan Auctions
If they are already having an estate sale, they should sell the higher value items at the estate sale or consign them to an auction. It sounds like a lot of cooks in the kitchen at this point so I’d be removing myself from that one.
I had someone as me to sell clothing on consignment and I quickly said no, but followed up with an offer to teach them how to list the items.
I am glad to hear he is becoming more understanding of you selling on eBay. My husband was unsure of this “hobby” when I started. He is much more understanding with it now that I have shown that it can add to our bottom line. I think it is common that the income coming in helps ease the idea that you are spending time working on it. My husband likely will never be involved in this, but I’m getting my son involved so it becomes a better balance of family time and business time.
Good luck and I hope you have continued success!
Yep, it is hanging in my office cubicle for all my coworkers to see!
I don’t pin the backs for larger shirts since I don’t want the fit to look different than it is. I tend to mix up my clothing between mannequin photos and lay flat photos. Jackets I tend to use the mannequin while I do flat lay for pants (I don’t sell many pants) and t-shirts. I haven’t sold any suits so I’ll defer that to someone who does!
I have been watching a lot of youtube videos from other people who do sell suits and blazers so there are a good number of videos showing various ways to get it done.
I just sold the same gooseneck lamp like 2 weeks ago! Mine wasn’t teal though. Great sale. And yes, trench art is very cool and sought after from collectors. Nice sale on that as well.
I tell people 50% on hard goods and no consignment on clothing. I have a relative who asked for me to sell her dad’s model car collection that I agreed to do at 20% after fees because the proceeds are going towards his memorial project.They have given me free reign over pricing and timeline to get things listed so there isn’t any fighting or pressure to overvalue the items.
Great sales Steve! Thanks for the video!
Here are my highlights for last week:
Renato Men’s Watch Limited Edition 6/50
http://www.ebay.com/itm/Renato-Mens-Vulcan-Collezioni-Limited-Edition-Green-Face-6-50-Ronda-5051c/252679671785
Last of my watches I got at an auction in September. Finally took a best offer of $260.Vintage Trailwise Down Jacket
http://www.ebay.com/itm/Vtg-Trailwise-Berkeley-Down-Coat-Blue-S-M-w-Hood-Waist-Drawstring-Made-in-USA/252777385032
This I picked up from the Goodwill for 50% off so $4.75. Sold the next day for $60 after a buyer asked if I would take $45 10 minutes after listing. I wasn’t ready to deal and was seriously considering keeping it for myself. I let them know that and they paid full price then asked about a smell…..ugh. It doesn’t smell, at least not to me, but I left the decision up to the buyer and informed them that I do accept returns. Hopefully all goes well.Vintage Colt 45 Beer Snapback hat
http://www.ebay.com/itm/Vintage-Colt-45-Beer-Snapback-Hat-Blue-with-Maroon-Bill-MADE-IN-USA/252669719597
Another thrift store find for $1. Took about 6 months to sell and went to a college student.Vintage 1960’s/70’s Woolrich lined Jacket
http://www.ebay.com/itm/Vintage-Woolrich-Lined-Jacket-Green-Tan-Plaid-Large-Late-1960s-Made-in-USA/252749097049
Picked this up on a bag sale day for about $3.75. Sold in about 2 weeks for $50 to someone on Fillmore St. in San Francisco.My vintage stuff is going well lately. I love finding cool vintage jackets. Just picked up a Lee Rider’s Denim jacket that should get listed this week. I think it is from the 1980’s.
Yeah, I know the paper trail aspect makes laundering the money unlikely. I’m thinking the gift card thing is more likely.
I was going to say maybe they are offering to send overseas, but they only ship in the US. They charge shipping on Priority mail, but give free first class shipping. They are probably making about $10 on each one sold. I can only wonder why someone wouldn’t just go to a bank to get a hundred dollar bill. May have to do with how they have accounts set up or just flat out money laundering.
While alive, I’d look into holding an auction or selling it to another reseller. In the event of death, I really have no say past what is said in the will. I’ve joked with my 8 year old that it will all be his problem one day — mostly related to the house in general.
In terms of estate planning I would just have a section where you outline what is expected for the business inventory. I would also sit down and discuss this with my heirs so they all know what is expected and where to find the information related to key business accounts like eBay, Paypal and my business related bank accounts. That way in the event of unexpected death, the store can be closed and all business assets can be reached.
