Why you should almost never use auctions (but I did for this)
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- čas přidán 7. 08. 2024
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My favorite reselling tools that I use:
- Label printer: tinyurl.com/28hdx8y8
- My favorite packing tape brand: tinyurl.com/29k792e6
- Postage scale: tinyurl.com/zakyprz5
- The best tape gun: tinyurl.com/55pmcbr9
- Photography lights: amzn.to/4bRgVOj
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Some of the links above contain affiliate codes, which means I may get a cut if you decide to make a purchase. And Flipwise is an app that I co-founded. Thank you for your support! - Jak na to + styl
The fan probably sold so well because you had the only listing with the original box. Cool piece of history!
My wife finally went to the bins with me. I thought she'd be squeamish, but she dove in like a champ and found some great stuff! Hoping she'll go more often!
For sure sales ebb and flow and great advice, I see the same patterns. My sales were crickets about 2-3 weeks ago and then I scored some good inventory..now Ive been getting some movement. It holds up every time but def the almighty algorithm rewards you when you're hot and ignores you when you're not. Im rarely consistent and it tends to go from one extreme to the other. Love the videos as always, thank you!
I believe that if you're in a saturated niche that has demand, auctions can be the way to go, especially when you've just entered a niche. For example vintage Santa postcards. The category is saturated so if you're listing as buy it now, they will have that initial boost and then fade, whether if you have them listed as an auction, they will have the listing and ending soon boost. So, if you've just entered the niche, it is also a great way to get people to watch your store. Later then you can sell as a buy it now when you've already got your following for the niche rolling.
A few other times I would sell as an auction, using the example above: during Christmas season, there will be more competition for the items and prices skyrocket; You need to get inventory moving because of a bad buy or your strapped for cash.
Regarding sourcing with your wife my wife has a 9-5 but always goes with me on the weekends to buy inventory in fact we go out of town for weekend getaways to go sourcing in other states and have a blast plus she always finds stuff I missed
Regarding the Tim Holtz item. My wife says yes it is for scrapbooking, card making etc. Teresa Collins or Heidi Swapp are other good bolos in crafting.
She also says she is annoyed about your dogs barking because you didn’t share a picture of them. Lol
I don’t think you underpriced the fan.. I just think the box really sealed it for authenticity and a collector having a box is probably a big deal. Great flips!
I sell epherma I cannot value (usually postal covers) and if it doesn't sell via auction, I just list lower for buy it now. Most don't sell as an auction, but I've had a few that brought much better $$ than I would have gotten going straight to buy it now. I do this because there is so much nuance in things like postal covers that I just don't know. And I have hundreds of old, international covers.
Added bonus is that you get a second listing when you re-list the dud auction item.
LET THEM BARK! We love dogs!
Yep - with the clothing measurements. No matter what, I still get questions. I loathe selling clothes because of it!
Would be GREAT to hear some more about your tips and tools for removing store pricing stickers and shipping labels from boxes to reuse if you do that. I've nearly given up on a few items because the sticker was so annoying to get off. Goo-gone, fingernail scraping, rubbing alcohol etc.
will add this question to the list for next week!
I get great results using a blow dryer. Heat them up a little and they lift off. Hope this helps :)
Sometimes I turn a box inside out, esp. if I have a "perfect" box but it's got liquor names on it (USPS won't allow liquor names).
Use a Heat gun. Go slow. Don’t over heat and most labels will come off with very little residue.
That's for the in depth answer on my question - much appreciated!
I’ve been waiting all day!
Loved the baseball glove. Tis the season. Play ball! 😊
Thank you!
wahoo update on my Ebay quest with information from your videos. I managed to pick up some free kids movies the other day and have already sold one for 45$! Thrifting has been tough however Facebook market has been really good!
That EMT fire department sweatshirt is called a “job shirt”. Very popular in emergency services. Game is a great brand! Good find!
good to know, thanks!
@@justinresellsQUESTION: what percentage of what you sell do you get full list price for versus what you accept an offer on? (It seems like I'm taking an offer on 80 percent of what I'm selling and I'm wondering if I'm doing something wrong. I allow offers in everything I list. Do you? Thanks!
I wonder if the fan went so quickly cause it was working and someone can restore the look of it and then that resell is in the hundreds.
Great video as always
I continue to get surprise sales of items I call "dead stock", items that have been listed for more than a year. As long as I have room, I will hang with items. I will check pricing to make sure I am still competitive. Books in particular can be slow movers for me. Just sold a vintage car manual, I had it listed for over two years. As with all my books, markup/margin was excellent.
The garage sale dead inventory question?
I tried last year all season, I did Thursday and Friday hitting early garage sales and the thrift stores but spent Saturday and Sunday selling dead inventory and even had friends and coworkers donating inventory to us we used to use to get coupons.
I was consistently making $500 cash per weekend, all season, there were people who stopped by every week to see what was new, and I was out in the country.
I know it’s not for everyone but $250 a day cash in hand is a pretty good day sourcing for many people. You build up small bills you can use as change or to buy at other garage sales.
I would suggest you try it, and like reselling online it takes a bit to get the hang of it. Selling at a garage sale is not like buying, it’s a whole different attitude and strategy.
I’m a new eBay seller. I don’t have a store, I’m just selling things we’ve accumulated from living overseas for 20 years. I don’t particularly agree with your dislike of auctions. I put up a game I bought in Asia in the 80’s and set a starting bid of $99. It sold for $368 and the auction was quite exciting. Even if I only get the starting bid, it’s still a lot more than I paid for it. I have an auction right now on some vintage perfume still in the unopened box I bought in Kuwait at air port duty free and started at $70. It’s now at $71 with 2 more days to go and several watchers. I didn’t pay anywhere close to $70 for it. I have another bottle that is sitting at $175 and one bidder. Sure, it could end up being a bogus bidder, but so far all my bidders have paid up. Auctions are proving to be my biggest sellers. Of course, I have a little over 50 listings and most all of them are sell it now. I do about 3 auctions at a time on collectibles, especially if I’m not sure of their value. If I get no bids I’ll lower the price and try again. If I fail again I’ll move to sell it now. I don’t have a profit margin (maybe 0), I just want to share a bunch of stuff that has been sitting in storage bins for decades. You can’t enjoy what you never see, unless you’re buying life insurance!😊
Sounds like you are auctioning off items that do well on auctions! Definitely continue to do so if it is working out well for you. eBay used to be nothing but auctions, and many new sellers thinks that's the best way to sell anything, but that is not the case and so my advice is geared towards those who are selling more common things. Nice work!
Mercari has added fees. I've been watching an item and got a notification that price dropped. Those fees during check out were not there yesterday!
I don’t think it’s smart to turn off eBay store completely. You can put on vacation mode and email your buyer. Usually that works. I’ve never had an issue and they’re grateful to be reminded or maybe they did realize but more sales are better for my pocket. I don’t mind coming back to a bunch of sales and yeah, shipping can be a little hard but most people are reasonable.
If sales are slow, maybe it's not such a bad thing that buying is slow.
My niche is "nude" dolls, it's a very common search word for doll collectors and OOAK doll artists.
interesting! thank you for sharing
It’s a GUARANTEE that people will still ask for measurements! Lol
Agreed. Your not alone. "Nude" doll sounds kinda creepy. Who keyword searches Nude Doll...anyway? Not sure I want that person to have my address. 🤔 lol
Right? Ha ha. The only reason I can think of to use nude instead of no clothes is it takes several less characters in the 80 character limit for your title but so creepy!😮😂
Love your videos. They’ve helped me so much in my journey. I also love your app as well but I haven’t been doing this too long but those analytics are so amazing to have. Is there anyway to get access to it?
Very interested in your app.
I also have problems with sourcing as I live in Europe and my only sourcing way is online auctions and is not easy at all finding items that you can profit on. Especially being a niche seller.
I go to Europe to buy to resell to Americans....jewelry especially. Ruby Lane is a good selling place for that. Very hard for us here to find the old stuff or good antique smalls.
Under sold that fan. I sell them on occasion, with the box and as good of shape it appears to be, I would've listed near $170.
You think? My sold listing is the most expensive from the last 90 days. Terrapeak shows one that sold at $150 in 2022.
Great content! Heads up though, it's pronounced "ah-VAY-da", not "avita" 🙂
thanks. my wife was just making fun of me for mispronouncing that
I didn't have anything happen with messaging yet but the app layout has changed quite a bit.
Dogs are great!
And "doll no clothes" sounds better than "nude dolls" for sure.
We love dogs. In fact: we want to see the dogs! Cats too, if ya got em. 🐱
Yeah, man...let's see that dog!
I agree! Show us your dog 🐕 on camera! 😊
will bring the dogs on next week
@@justinresells great! Could you go over, historically, what percentage of your ebay items sell for asking price and what percentage sell because you send an offer or a buyer sends you an offer that you accept?
Fur kids are always welcome!
Fan was underpriced. In a situation where you have a vintage item like that in that condition with the box, you price 5 times (or more) the highest comp and let them make offers. Probably should have gotta $200 for that.
(20k plus eBay sales - many emerson fans)
you’re probably right!
No matter how well you set up a listing with measurements I still get return that the buyer claims wasn’t as described. Oh well.
Hi Justin, how do I search for a single item on my eBay closet with scrolling on multiple listing?
Where is this warehouse sale you speak of? (I live in STL too) Do they have jewelry? That’s more my thing, but dabble in vintage hard goods as well.
it was out near Soccer Park, but a one time thing
Hey man update on flipwise? Really looks awesome!
Coming soon, but we are still accepting beta testers: forms.gle/cRJZaHMokgjC7yn1A
I'm brand new to eBay. I'm considering using an all auction strategy, specifically so I can control which days I have to ship. My plan is to start and end auctions on Sunday night every week, so I can ship everything on Mondays, without having to worry about it every day.
I also work out of my apartment, so my storage space is extremely limited, so listing items well below the competition will be a good way to move inventory quickly, even if I'm not making max value.
Anyone try a similar strategy? Is there a pitfall that I'm missing?
answered! czcams.com/video/_pk4hvO8R8g/video.html
Sourcing has been slow for me too.
I have a question about listing items and the shipping part of things. If im using a calculated shipping option, do i need to pre-package and weigh my item so that i can put in the package details before i list it? Or other wise the customer wouldnt be able to see a shipping price i assume. Do you just make a guesstimate? thanks.
i'll answer this in next week's video. thanks!
Yes, after selling for 20+ years on eBay I have a pretty good feel for how much the addition of a box and packing material add to the total weight so I’ll do a guesstimate. It’s not hard to weigh the item and add a box on the scale. Also always round up on the final measurements to avoid getting an additional charge for underestimating the size or weight. I’ve found this especially true with ups.
Justin I didn’t take notes from your video about just in time FB listing code strategy. Can you tell us which video it is? Thx much
hmm not sure. this one maybe? How to bypass the Facebook Marketplace algorithm to see the most recent listings (Updated for 2023)
czcams.com/video/bW6W1qZ6zQI/video.html
Justin do you hav a resale license so you don't pay sales tax on your purchases?
❤
Do you try to get a signed receipt when you purchase from yard sales or how do you account for cost of goods?
You just need to keep a records of your cost of goods. People are going to look at you funny if you ask for a receipt at a garage sale :)
Hold up...on the vintage fireman's jacket you said "metadata"....what does that mean and do?. You may need to do a video on how that works please
Metadata = data about data. I imagine it's related to his app he uses and is developing.
By metadata I just mean the extra data you fill out in your listing, like brand, model, color, size, etc.
Hey Justin, heard you mention this and thought I’d ask. Can you write the cost of old inventory you bought to sell and then donate if you use the CASH method of bookkeeping? I was told you couldn’t because you’ve already expensed it for the price of the item, and you can’t charge them off again. They told me only items from your own household that you donate can you write off. You know for sure which is true? TIA
Hi Gary, I avoid giving tax advice directly because I am not an expert and would hate to give someone bad advice. Your best bet is to talk to a CPA. Sorry!
Facebook marketplace IS the Wild West. I.would never buy or sell anything on it shipped. Local meet ups are few and far between as everyone now prices at or above retail. I'll just order it on eBay or Amazon for a lower price.
Forgive me if you have answered this question before..but what is your opinion on Promoted Listings?
I have a video on that:
czcams.com/video/Kef1xouVphA/video.html
"The Game" hats can be stupid money
That pic is malicious compliance
Can we meet the puppies?!?!? plzzzzzz
Dog bark Annoying?? Never!!
Do you ever sell for other people for a consignment fee? Also, as the EX Wife of a firefighter, they have an endless amount of FF shirts, sweatshirts, etc. Even outside of wearing their uniform, they seem to like people knowing they are indeed a firefighter.
Did you see that Apple is charging you an extra fee when you buy an ad on social media? Be careful if you use an iPhone
It takes a village to source well ! Amazing to see the gender lines resellers adhere to.
Please double check your advice of being able to take donated product off your taxes. You take the deduction when you buy it, but that's the only time. If you donate, it's gone. If you garage sale, at least you get something for it .... Plus, hosting a garage sale is a great oppertunity to be reminded oif what it's like to be on the other side of things.
i’m not a tax expert and this isn’t tax advice, but there are multiple ways to account for cost of goods. if using the accrual method you deduct at the time of purchase. if using the cash method you deduct when it sells. if it doesn’t sell, you can donate it and deduct your cost then.