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More than likely, although a small part of my brain is convinced that I have sold the final desirable item in my inventory and the rest is worthless junk.
Hi guys! Christmas week was exceedingly slow for me too.
Sales: CAD$524, 5 sales, COGS: $127, Fees: ~$81, Postage: $130 –> Gross profit: $186
Expenses: $68, New inventory: $554 –> Cashflow: -$308
I bought a bunch of UPCs at one point and then never used them. Try
0600190890544. If it works I'll give you more, I don't think they'll get used otherwise.
Hi folks.
Felt like a slow week this week but looking back at the numbers – not so bad.
Sales: CAD$2084, 11 sales, COGS: $472, Fees: ~$258, Postage: $397 –> Gross profit: $957
Expenses: $81, New inventory: $199 –> Cashflow: $1150
Moving quite a few of my Voip phones this week, which is nice as they are bulky boxes.
I had planned to go all-in on a local auction but I stupidly forgot about it on the day of the auction and got wrapped up in work. Kinda kicking myself but there will be other chances.
Hey jchi!
I think it is less different from any other category than you might think. I usually aim for 1/5 to 1/10 of final sale price depending on popularity, which is the same as what I aimed for when thrifting.
The kind of stuff I buy is similar to the vintage stuff J&R buy inasmuch as it’s long tail stuff – which is basically the source of the profit opportunity. So yeah, it’s buy and hold for sure (with the added bonus that it tends to be big). And if you are relying on higher dollar items your week to week numbers are more variable than if you do more volume.
If you want to break in I suggest finding a “miscellaneous lot of so-and-so” with lots of weird junk in it, often these can be found at auction for relatively cheap. Processing these miscellaneous lots is a great education in what is and is not worth bothering with. Good luck! 🙂
Hi all!
I’m glad you mentioned the USPS delays. I had noticed things were bad going to the states but didn’t realize it was “a thing,” as the kids say.
Had a decent week on ebay.
Sales: CAD$2357, 14 sales, COGS: $184, Fees: ~$327, Postage: $317 –> Gross profit: $1529
Expenses: $303, New inventory: $582 –> Cashflow: $828
Best sale was a motor shaft for $450, think I bought it for $50 on ebay.
Hm, I can see how that’s a tricky equation.
I wouldn’t be so sure a canuck buyer won’t pay full shipping. We are conditioned to high shipping costs, even domestically. If I wanted to ship a small hardcover book domestically it’d be like $15.
And on a larger order the $15 ($20?) splits over a few pounds of coffee.
I dunno how much of a market you have here but if it exists they may be willing to pay.
But I have no idea what food-related regulations there might be in importing… that is a good point.
For example, I just packed an item the size and weight of a VCR, sold to the states. Buyer paid $102, cost to me $64. It’s that kind of stuff, adding up over a year. In general it comes from my overestimating shipping weight a little bit historically in my listings, to “be conservative”. I’m trying to dial that in more now.
Hi folks, glad to hear from you again!
Broad Porch website looks slick. I see it can’t ship to Canada. Not the end of the world but – is it hard to set that up?
Sales: CAD$3554, 12 sales, COGS: $285, Fees: ~$477, Postage: $213 –> Gross profit: $2579
Expenses: $668, New inventory: $139
Best sale was a couple valves for $1700. Made a little more effort to scavenge this week but without too much success. However there is a big auction coming up in a week and a half that I plan to go whole hog on.
You might be surprised how much you make on shipping. When I do my numbers for taxes it forces me to see this number. I made $8000 on shipping last year.
I do think it is worth considering this your “gross”, both because you can make money on shipping, and because taxes, fees, etc. are all calculated on that number.
Good morning!
Had a good week on ebay, if a fairly uneventful one. Not doing much scavenging lately.
Sales: CAD$2323, 15 sales, COGS: $1272, Fees: ~$327, Postage: $219 –> Gross profit: $505
Expenses: $36, New inventory: $249 –> Cashflow: $1492
Sold a density probe for $500… otherwise not much to write home about.
One thing I learned recently which may prove useful (I am not a tax lawyer yada yada, this is according to my accountant): if you buy inventory and have it shipped to you, the item cost is COGS (and so cannot be deducted until it sells) – however, the shipping cost can be deducted immediately along with your shipping costs *to* buyers.
Good morning!
Solid week on ebay. Did a little buying too.
Sales: CAD$3521, 22 sales, COGS: $538, Fees: ~$481, Postage: $782 –> Gross profit: $1720
Expenses: $575, New inventory: $1613 –> Cashflow: $70
Good week on ebay, and I got some good stuff at auction, though not as much as I had hoped.
Sales: CAD$3201, 14 sales, COGS: $599, Fees: ~$456, Postage: $272 –> Gross profit: $1875
Expenses: $413, New inventory: $673 –> Cashflow: $1388
Decided to forgo ebay scavenging this weekend and went out grouse hunting in the mountains with some friends. Hopefully this week won’t be too crazy and I’ll have some time in the evenings to find new inventory.
Oh I see how you mean! I am primarily burnt out from my day job, which has been quite stressful of late. Ebay scavenging is still fun for me. Alas the online scavenging does require a lot of time and focus which has lately been in short supply – by the time kids are in bed I am already nodding off.
