This week I want to change the way I review my week of reselling. I plan to experiment with a few different layouts and this week I would like to include some actual figures (numbers), a few tips, and even some great sales that I had. This type of post is still a work in progress and I would greatly appreciate any feedback you have about the way the content is presented.

With that said, let’s jump right into what happened in my world of reselling last week…

eBay Mojo…

I am proud to say that I got my eBay mojo back! 🙂

I’ve managed to list over 20 new items this past week. That’s 20 more items than I listed in the past month. 🙂 In fact, it had been over a month since I sold anything on eBay. Once I sold the book that I talked about in my previous post, I decided to get busy listing more items on eBay. Having shipped over 34 boxes of inventory to Amazon over the course of 2 weeks, I more than needed a break from listing, labeling and shipping! To my surprise, eBay has been a welcomed break. I am slowly making a dent in my backlog of inventory and I have seen sales slowly trickle in.

Lately I have been focusing on listing mostly auctions over on eBay. Out of the 12 items that I sold from the 27th through the 2nd, only one item was purchased via “Buy It Now.” (Looking back, I probably should have listed that item as an auction too.)

Over time I have actually grown to like auctions because I find that my items sell much faster than waiting for the right buyer to come along and purchase it via “Buy It Now.” Although I have no hard data to back this up, I feel that when I list something on auction, I always have more activity and appear higher in search results than if I listed the exact same item “Buy It Now.” Furthermore, I can usually get whatever I had in mind for an asking price through auctions and in some cases even more if bidders get into a bidding war.

As I go into this upcoming week, I plan to continue listing more auctions with the option to “Buy It Now.” My goal is to list more items than I listed the previous week. Hopefully that means that I can list at least 25 items.

This Week’s Expenses

I have severely decreased the amount of money I spend on new inventory until I can get through my backlog. Lately I have been HIGHLY selective about the inventory that I purchase — especially for eBay. This week I went a little overboard and spent $132.77 on new inventory. I spent a total of $23.95 on new eBay inventory and $108.82 for Amazon FBA inventory.

I am trying to gear up for back to school season, so I have been focusing a lot on purchasing used textbooks. Outside of books, I purchased one item for Amazon FBA that cost a whopping $20, but should gross $98. I have sold this item three times now, so if I can’t find it in a thrift store, I look for it online. I managed to find one online with free shipping and it arrived earlier this week. It will go out with next week’s shipment.

I haven’t done much shopping for inventory other than what I mentioned above because I have a lot that still needs to be sent into Amazon’s warehouse or listed on eBay.

Next week I plan to attend one estate sale and a book sale, but my budget will be restricted to $75. I anticipate that the bulk of that money will be spent at the estate sale.

Amazon FBA & eBay Sales of the Week

I had some good sales last week on both eBay and Amazon. Over on Amazon, I sold out of this clock in less than a week after being checked into Amazon’s warehouse.

I purchased four (4) of these clocks at an estate sale for $5 each. All four of them were new in box. Originally, I was going to sell them on eBay because my Terapeak app showed that they had a good sell-through rate in used condition. I figured that I could get more for them since they were new, however, once I realized that I would have to personally pack and ship each of these odd shaped boxes, I decided to send them into Amazon.

 

There were no current offers for this particular As Seen On TV model on Amazon, so I priced it similar to the sold listings on eBay. Each of these clocks sold within 1 week.

legosaleOver on eBay, this particular sale was my second highest sale last week in terms of ROI. I purchased this Lego set from the same yard sale where I purchased this. I paid $3 for the set which did not include the original box.

I did not know how to price it because it was missing the box, so I listed it via auction to let bidders decide. This was one of those auctions that I couldn’t keep my eyes off, mainly because at its peak, it had about 35 watchers. I have never had that many watchers on an auction before.

Total cost for all six (6) items = $23.00

Net profit (minus all fees, shipping, and cost of items) = $203.01

…that’s $203.01 that went towards my paying off my student loans. 🙂

Closing Reseller Insight/Advice…

Tip #1: If there is one thing that I learned this past week, it would be to not get so attached to your inventory that you fail to let it go because of how much money you have invested into it. I watched an interesting video a few weeks ago by Rev’s Rusty Retro Retail. In this video, Rev talked about removing stale or “oops” inventory from your possession even if you have to take a loss.

I couldn’t agree more. There were many items that I finally managed to list last week that had been languishing in my home for months. For many of those items, they sat languishing because I just had not sat down to list them, but for others, it was because I did at one point list them for sale, but I placed such a high price on them in the hopes of getting a decent profit that they didn’t sell.

Now I am operating in true liquidation mode! That means that I’ve stopped researching prices to figure out what I can get out of my inventory. Instead, I’m simply listing at least 90% of my inventory as an auction and letting the market decide what it is worth.

Tip #2: I turned over a new leaf last week by photographing every new item that I purchased within 48 hours of buying them. I haven’t done that in a while! Early on, I did, but as I began to acquire more inventory than I could handle, it just wasn’t possible. Now that I’m being more selective and getting a little more involved with liquidating my inventory, I am more diligent about getting things listed.

Your inventory isn’t making you any money when it’s sitting on a shelf somewhere unlisted.

The more I list and sell, the closer I am to knocking out one of my student loans completely!

11 Thoughts on “Reselling Re-cap: July 27th – Aug 2nd

  1. Isabella on August 4, 2014 at 4:25 am said:

    I love reading about your sales and strategies. You have such a levelheaded approach to your business!

  2. I have that clock somewhere in my inventory (not NIB though). If only I could catch up on my listings before I buy new inventory…LOL
    Margaret recently posted…The Sure-Fire Way to Get out Of Debt!My Profile

    • Yolanda on August 4, 2014 at 8:09 pm said:

      Margaret,

      Don’t worry about not having the box. They still do well on eBay, especially the ones with the wood grain! You can view some of the listings here.

  3. Love this post. Just did that with my “old” inventory not selling on eBay. Took it off, put it on Amazon FBA (most at a minimal loss but some I did make a bit on) and it all sold in like 2 weeks. It is money but its also space LOL. I am so backlogged that I’m not buying inventory at all for a while. BTW I love your blog 😀
    grace recently posted…Goals for AugustMy Profile

    • Yolanda on August 4, 2014 at 8:11 pm said:

      Grace,

      Have you looked into Yerdle as another option to get rid of inventory in exchange for credits? I have been doing that lately and it goes really fast. I may not get money for it, but I do get credits and I exchange those for other items that I can resell.

      I certainly understand where you’re coming from about the backlog. Do you have help or are you a one woman operation too?

      • I’m mostly a 1 woman operation. My hubby brings the FBA boxes to UPS, my 3 kids “help” with FBA stickers and such (basically taking way longer than normal), and a neighbor babysits for yard sales.

  4. This is some good info.

    I think the inventory thing all depends on your system. Some people don’t have a lot of space so they need to keep things moving even if they have to cut the price some. Others have a set # of items that they list and just try to keep that steady. This option does require somewhere to store them though.

    I need to get my old shelves moved, new shelves in place (in 2 weeks I’ll have them), and shirt packing materials. I’ve been heavy into clothing and swear that I have at least 300 items to list but my plastic baggies where I’m going to store the shirts (all ready to be thrown into a mylar bag or a flat rate padded mailer). WHOOBOY! I’ve also zero’d out my inventory money for 2 reasons – A – there were a lot of garage sales and B – I need to focus on listing. Can’t sell it if it’s just sitting in my garage… :-/

    Reading all of these posts about people listing or listening to podcasts is really giving me the eBay bug! Gotta prioritize now though or I’ll never dig out of that hole.
    Chris @ Flipping A Dollar recently posted…YouTube – How to Embed Video in EbayMy Profile

    • Yolanda on August 4, 2014 at 8:16 pm said:

      Chris,

      I sincerely hope you write a blog post about how you handle all of that clothing. 300 items?!? Wow! I just find listing clothing so cumbersome. Are you using a mannequin to sell each individual item or do you have a different way of photographing your clothing? I would love to know your process for working through that many items.

      • Well, that’s part of the issue. Because of the move, I haven’t been able to list in WAY too long. I’m going to start pre-packing all of the shirts/pants just so it’s easier for storage. Plus, I can keep them in storage totes in my garage without worries about it getting dirty/dusty. Clothing takes a little work up front, but really, the template is important. I take 3 measurements for shirts (chest, sleeve, length down the back), and 3-4 pictures (front, back, maybe front pocket, and tag). Right now, it’ll be written on a sheet of paper but I may go to digital in the future. Then it’s just a copy/paste exercise to list!

        The shipping is the best part. Every shirt I sell goes in a little clear plastic baggy with a thank you sticker. Then it goes 1st class in a Mylar bag if it’s 13oz/under or in a padded flat rate ($5.35) if it’s bigger. Very few items go in one of the bigger Mylar bags. So simple and no boxes to deal with. 🙂
        Chris @ Flipping A Dollar recently posted…YouTube – How to Embed Video in EbayMy Profile

      • Oh yeah, no mannequin. Just use a black or white poster board. I’ll definitely do a post on it in the future!
        Chris @ Flipping A Dollar recently posted…YouTube – How to Embed Video in EbayMy Profile

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