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02/25/2019 at 3:37 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57651
SEAM: Huge fan of the Jeep line, especially if it is the Straight 6 engine. Our oldest still drives our 1999 Jeep Cherokee, and Veronica loves her Wrangler.
02/25/2019 at 3:35 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57650Ditto on the congrats on the retiring!
02/25/2019 at 3:33 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57649Retro: Was that elderberry syrup Umcka? We have had good success with that in the past, and lots of our friends as well.
02/25/2019 at 3:30 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57648Geoff: I swear by SixBit, also for the listing process. Both Veronica and I list everything through SixBit. Lots of reasons why, and something I can explain out.
The biggest reason is that I list in chunks. I just do listings about 2-3 days each week with my schedule. But with SixBit, you can schedule the listings to hit at no extra cost. So when we get our photos back, I add the photos, finish up the listings, and then schedule them to hit over the next few days. This has us “listing new” on eBay every day, even though the actual listing time is only 2-3 times per week.
02/25/2019 at 3:27 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57647almasty: Yeah, I’m normally like you, done with the taxes by the second week of February. Let’s you know if you owe, you have some time to prepare. If you get a refund, you get it sooner.
Showed my youngest son how to do taxes (he moved out, works pretty much full time while also going to school first time), and why I use and swear by TurboTax. He is getting a pretty good refund, so we talked about how to change his W4 so he gets more per paycheck. I laughed since he is now part of the 45% of the population that pays $0 in Federal Income Tax. Made almost $30k this year…$0 Federal Income Tax.
Now to finish ours. Got the 1065 Partnership form done, as well as the K-1s, and working my way through ours (we have four sources of income, all taxed differently…this is why Jay and Ryanne pay someone to do theirs!).
We are getting a pretty good sized refund now as well. That $24k Standard Deduction for Married is kicking in now. I may not need to itemize any more!
02/25/2019 at 1:39 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57635Yep. This week was $700 on Posh (12 items at a $58.33 ASP). New league record.
The listing is easy, and I have a process now to not only make sure that I keep the sales in sync (remove from Posh when it sells on eBay, and vice versa), but I also make sure that the active number of listings is in sync as well. I can show that on the hangout.
02/25/2019 at 1:36 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57634Jay, that is an excellent idea! We can announce when it would be shown live, and while I have you and Ryanne on and asking questions, we could have other folks come on and ask questions as well. That would be a great knowledge share!
Let me look this week on how to do one, especially the screen sharing.
02/25/2019 at 11:56 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57614PS – Jay, you had me pegged. The second you guys were talking about having an item not found, I’m saying “SixBit!”.
02/25/2019 at 11:54 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57613Jay and Tony: This is part of the reason that I’m steering clear of lower end items on Poshmark now. The STR hasn’t been great, and I don’t want to go less than $15.
Plus, the buyer is stuck with the $6.79 shipping price. So that is a great rate for a suit, coat, or shoes, where the shipping on eBay would be above that price.
02/25/2019 at 11:48 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57611Poshmark is a little higher, but I think clothing sellers like it because it has cultivated the right audience, clothing buyers.
As to how much more expensive, it isn’t that much more when seen differently.
On Poshmark, you pay 20% on the selling price of the item (no shipping included). On eBay, you pay 13% (9% eBay FVF + 3% PayPal Fee) and that includes shipping.
So, let’s look at something we would sell using a Padded Flat Rate Envelope.
Selling Price – $20
Shipping – $7.33
Total – $27.33Fees (13% of $27.33) – $3.55
Fees (as a percentage of JUST the Selling Price of $20) – 18%The same sale on Poshmark would have $4 in fees (20% of the $20). So the difference is $0.45, kinda small. Plus, it is free to list on Poshmark. No listing fees.
Now yes, if you extend this out to higher end items, like your $200 boots that you could ship for say $15, you are looking much different ($27.95 fees on eBay vs $40 on Poshmark), but I think you can get good prices for the higher end items on Poshmark. Plus, you may still want to ship those boots Priority for the insurance, so now it lessens the difference in rate.
Goat: I have to say, that is one thing I love about Poshmark. Before you can offer on Poshmark, you enter your payment information and you are committing to a sale. So when the offer comes in, you have 24 hours to accept and when you do, the sale is binding and the buyer is charged.
Very nice.
02/25/2019 at 10:29 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57595I got you Jay:
Yes, the $40 is 20% of the selling price. Shipping is not included at all in that calculation. The price that the buyer pays for the item itself, you pay a 20% fee on that.
Poshmark handles all of the shipping themselves. All shipping is priority (no first class), and all labels are the same price to the buyer, $6.79, for up to 5lbs. So a light shirt, buyer pays $6.79 priority shipping. Buyer purchases a 3-4 lb suit and pays $6.79 for shipping. Buyer purchases 5 lb boots and pays $6.79 shipping. So in your case, the buyer paid $206.79 for the boots, $200 to you and $6.79 for the shipping.
I think it is three calendar days for the acceptance. I’m running about 60% of the time they accept on Poshmark before the three days.
02/25/2019 at 10:11 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57588Week of 02/17-02/23
Total Items in Store: 2,877 (Up 53% YOY)
Number of Items Listed: 120
Number of Items Sold: 98 (Up 51% YOY)
(Includes 2 Etsy, 3 Bonanza, 0 TrueGether, 12 Poshmark, 1 Mercari)
Weekly STR: 16% (Up 1% YOY)Total Product Sales: $2,842 (Up 84%)
Sales Volume Variance to Prior Year: $784
Sales Price Variance to Prior Year: $515
Cost of Items Sold: $551
Cost of Labor: $257
Highest Item Sold: $125 – Spyder Legend 3L Stryke Jacket
Competition: Highest Priced Sale: Troy wins the week (on a roll!) and Veronica leads for the year 5-3.Clothing
# Listed: 1,734
# Sold: 66
STR: 17%
ASP: $29.80Shoes
# Listed: 576
# Sold: 13
STR: 10%
ASP: $31.13Hard Goods
# Listed: 567
# Sold: 17
STR: 16%
ASP: $24.76EBay
# Listed: 2,877
# Sold: 84
STR: 13%
ASP: $25Etsy
# Listed: 209
# Sold: 2
STR: 4%
ASP: $30Poshmark
# Listed: 578
# Sold: 12
STR: 9%
ASP: $58Bonanza woke up this week, had three sales. Plus, we had our first sale on Mercari, and I almost had a sale on Grailed (accepted the offer, but he didn’t pay). I will listen while we ship this morning!
Even better…could be grounds for experimenting!
Make two listings on the same item (slight changes so eBay doesn’t see it as a duplicate and spam). One with Free Shipping, one with paid shipping. Use the SKU as reference to the other listing to pull down when sold.
Do this for 100-200 listings, see what the STR difference is.
No extra costs involved at that point, so the experiment is free…
@ Speckled Goat: Amen. I have the same tug of war on a regular basis.
Accept and cancel again this morning.
Offer on some high end boots overnight, wake up and accept. Immediate cancellation.
At least this time the buyer said he was told that the offer wasn’t accepted so he purchased some other boots.
This is another reason that I have a “ceiling” on my best offers. You make an offer above that price, I auto accept. Veronica doesn’t do that (but she did on this listing now)… 🙂
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