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Incredible. You seem to net $4k a week after COGS and fees. Thats incredible. Remind me what you do with all the money? Thats about $16k a month unless i’m misunderstanding your numbers.
Thanks. It’s been a crazy few weeks for sure, and this next week is stacking up nicely as well.
I don’t know how long my numbers will stay up like this, but I will ride it out as far as it goes.What you can’t see in the numbers…let’s see.
A portion of my sales are consignment items, once a month I pay my 7 clients for the prior months sales. The total client payout this month for December sales was a big one, just over $4000. It’s typically in the $2500-$3000/month range.
I also have a running Paypal working capital loan from a buyout I did in November. That’ continues to scoop $2200/month off the top, and will for the next 3 months.
I have a home office, but we had to build it. Just under 1 year left to pay on the 5 year loan. It’s going to be a big relief when it’s paid off.
In this busy season I typically spend more on inventory to start preparing for next fall, and put back money to rebuild our comfort cushion for the slow season.
Some is sent into my self employed 401K, not as much as I’d like, but we are focussed on other short term debt first.
Medical Bills and Health Insurance premiums….enough said. Ouch.
We send in extra premium payments monthly on our mortgage, and once taxes are done and over with, We will send in a larger lump payment with some of the excess, if any.
Then if there is anything left over, we will take a vacation to somewhere warm in February/March.
Week Jan 13-19, 2019
Total Items in Store: 3547 listings for 5407 total items
Items Sold: 92
Gross Sales: $5924.75
Cost of Items Sold: $595
Highest Price Sold: $381 (NWT Filson x Levis Collaboration Hunting Vest)
Average Price Sold: $64.40
Returns: 5
Money Spent on New Inventory This Week: $647.57
Number of items listed this week: 98Amazon Experiment
Amazon Products – 45
Items Sold – 6
Gross Sales – $227.12
Average Price Sold – $37.85
Some spent on amazon this week – 0
$ Spent on amazon inventory this week – 0Scavenge of the week, a 1996 Lego electric train set in original box with 3 expansion track packs. Bought for $25, assembled, tested and listed it in about an hour, sold for $250 shipped, in under 24 hours. Loving that.
I’ve spoken in length with at least 3 anchor support reps about service metrics. They all told me you have to be a very poor seller to be penalized. It requires at least 4 separate things to happen. They all have to happen in order to be penalized.
– 10 or more NAD returns (in the same category/group) for that evaluation period.
– 1% or higher NAD return rate (in the same category/group)
– Exceed your peer group NAD return rate (in the same category/group) by an undisclosed percentage.
– Be evaluated in the “Very High” level of the NAD % chart…..also an undisclosed percentage.Additionally, they all reps assured me that in the unlikely event we are penalized with higher FVFs for our service metrics, and have several “false” NAD returns, we can then appeal the FVF penalty and they would then look at the questionable returns individually. While they do not have the power to remove the false NAD returns from the record, they do have the power to overturn the FVF penalty if they see a history of false claims.
If it helps, even though I offer 30 day free returns, I had 11 NAD returns for the last evaluation period. 7 of them were “false” NADs for color, fit and one even tried to return something his dry-cleaner destroyed. This landed me with over 10 returns and just over 1%, but I’m still right in line with my peers by a tenth of a percent or so. I think everyone gets them regularly and that’s why they go by the peer average.
Remember when they started that horrible defect system a few years back and thousands of innocent sellers were kicked off ebay within in a few weeks? I truly think they are trying to perfect that system so it doesn’t happen like that again.
I totally agree with you on calling in. I try to wait until I have a few to call about. If it’s only one transaction, and it’s only going to save me a couple bucks, it’s not really worth an individual call.
If you do a manual refund via Paypal, you would still need to call ebay if you want to get a refund of your Final Value Fees, those aren’t automatically refunded outside of a “thru-ebay” refunds.
I read Marie Kondos book a few years ago. The show is fine, but the book (meaning following the instructions in the book) was absolutely life altering. I recommend it to anyone. Yes it can take a couple months to do the process correctly but totally worth it.
1/6/2019 – 1/12/2019
Total Items In Store: 3508
Items Sold: 66
Cost of Items Sold: $445
Total Sales: $5213.79
Highest Price Sold: $600 (Leather Jacket)
Average Price Sold: $79
# Items Listed: 111
Money Spent on New Inventory: $1495Scavenge of the week, $25 Leather Jacket sold above for $600 in under 12 hours.
New years business goal was to try a little Amazon action in my “spare time”. lol
Got my account set up in the last week of December and acted on that resolution immediately and sent in a few things for FBA on Jan 1. Also have a few things I’m doing merchant fulfilled for now. After a week or so of waiting for my units to go live, I finally have my first week of AMZ sales.Total items listed 55
Items Sold 9
Cost of Items sold $24
Total Sales $320.02
Average Price Sold $35.56Yeah. The announcement said there was no need to call and they would be removed by the Jan 20th evaluation.
Awesome info and thanks for outlining so clearly for all of us. But doesn’t this open a new can of worms that people can’t request combined shipping on multiple items? Is there a workaround with that to keep/include both?
No. Unfortunately we each have to decide whether we will press for payment sooner, or allow a longer shopping time. I think it best depends on what you sell. If you are in a niche you may sell multiple items more frequently, so you may want to let buyers shop for a few days. YMMV
I’m kicking myself for getting a 30 year mortgage when we purchased this house. If we had done the 15 year like I should have, it would be paid off right now.
Hopefully you didn’t do what we did. We mistakenly bought a knocker-downer that we thought was a fixer-upper with a 30 year mortgage and then put a ton of unexpected money into it for renovations/additions. Luckily we were able to get back a bunch of that unpaid interest by refinancing when the rates dropped, and we make extra monthly payments and yearly lump payments to catch back up. We are at the 13.5 Year mark, and I’m shooting to have it paid in 6 more years….if not sooner.
December 30, 2018 to January 5, 2019
Total Listings in Store: 3577
Items Sold: 79 orders for a total of 83 items.
Gross Sales: $5215.93
Highest Price Sold: $216 (Burberry Trench Coat)
Average Price Sold: $62.84
Returns: 4
Money Spent on New Inventory This Week: $168
Number of items listed this week: 25Scavenge of the week: Near Mint Zelli Crocodile Loafers.
I always forget if you figure in returns for gross profit, or if subtract it later for the net.
The numbers aren’t quite finalized with a few loose receipts left to input, but they wont change much at this point, so here are the rough numbers. We will be polishing them up the week as we get ready for next weeks Q4 tax estimated payment deadline.
Was a rough start, with both my wife and I having back issues this year, but we muscled through and really finished strong in the fourth quarter to get the year back on track.
Product Sales (no shipping) – $168,459
COGS – $21,692
Fees – $30,412
Payout to Consignors – $17,178
Returns – $10,977, yikes but hey, its all part of the clothing game.
Gross Profit – $88,200
Already Reinvested into wholesale inventory not yet sold – $21,495Total # of Sales – 3,825
Jan 1 # of Listings – 1,568
Dec 31 # of Listings – 3,605
New Listing in 2018 – 5,7102018 ASP – $44.04 (no Shipping)
Avg sales/wk – 73
Avg listings/wk – 110@ryanne, the reason you can’t set the unpaid item case to two days, is because it is being overridden by another setting which allows buyers to combine payments over multiple days of shopping. Most likely, you have the “allow combined shipping” option set to 3 days, which would mean since you are giving the buyer that option, you wouldn’t be able to open an unpaid item case until the 4th day.
To make these changes…
1. Hover over your name in the top left corner,
2. choose Account Settings from the drop down menu.
3. Select Site Preferences on the left menu.
4. Scroll half way down to the Shipping Preferences section,
5. Look for “Offer combined payments and shipping”
6. Select the “edit” link to the far right of that line item.
7. On the following screen select “Edit” under the Combined Payments Section
8. On the pop up screen uncheck the box allowing combined payments.Once you have unchecked the box, you should be able to navigate to the Unpaid item assistant and switch your preference to 2 days.
Hope that helps.
