This issue comes up at least weekly on eBay seller Facebook groups. Sellers not listing items because their free listings ran out, or eBay isn't offering a free listing special. You have done the work purchasing items, and those items are inches way from the very computer where you sit reading this, but some of you aren't listing those items because it may cost at the most an additional 30 cents to list the item? How else can you connect your item with a buyer? Have you ever received an email from a buyers stating, "Hey, I know you bought that great item at the thrift store last week, and you haven't listed it yet because you don't want to pay the listing fee, but can I buy it?" Yeah, nobody is ever going to get that email.
I am shocked at how many people don't list inventory because "My free listings ran out." Really? You are going to let a a small fee stop you from making money, maybe hundreds of dollars? I think about how many hundreds of items you CAN sell if you list them- even with fees. So let's break this down...
Let's say you have 50 items sitting around and you paid an average of $3 for each item. That is a $150 investment that isn't working for you. If you listed those items, with an insertion fee of 30 cents per item, you would be out of pocket $15. Right?
So let's say you listed those items with a price of $19.99 with free shipping - and shipping cost estimated at $5. Profit on each item would be $8.81:
If you sold 10% of those items this month, 5 items, your profit would be $44.05.
If you sold 25% of those items this month, or 13 items, your profit would be $114.53
If you sold 50% of those items this month, or 25 items your profit would be $220.25
By looking at the big picture, you can see how silly it is to let a 30 cent listing fee get in the way, right?
This is one of the biggest stumbling blocks I see with people I work with one-on-one, letting the nickel and dime fees STOP you from making money. It's called "Tripping over dollars to pick up pennies." It takes money to make money, pure and simple. If it isn't listed, NOBODY can buy it.
Try plugging in some numbers yourself with this free eBay profit calculator.
And make sure you understand listing fees for your unique eBay business.
No more excuses. Dig in and get those items listed. Unlisted items can't sell.
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I totally agree. And in addition when free listing promotions are going on the market is more saturated and you may be less likely to sell an item you do list. I love the saying Tripping over dollars to pick up pennies. I am going to adopt that and remember it. I know I trip over dollars when I shop for inventory...not wanting to spend more than a couple of dollars for an item. I want to change that.
ReplyDeleteThis has got to be the most relevant article I have seen for a long time! Of course, you have to speculate to accumulate - and the fees are a lot smaller than opening a bricks and motar shop!
ReplyDeleteWell written and very enlightening.. I am one of those persons.. I trip my self up a lot. I am going to be reading your blog a lot not that I discovered you! You are great.. Thanks for your insight.
ReplyDeleteI didn't understand this Suzanne until I repeatedly saw it as a comment when other people said they were waiting for free listings. After awhile I decided to just jump in and go with it, and as my items started to sell that I had sitting around previously waiting for free listings, I realized I had all this money sitting around my house for months. That seemed so silly after the fact. So now I list whatever I can find, and when we get the free listings offer, I run to my favorite thrift stores and get even MORE stock to list. Thanks for this reminder. You are SO right: items that aren't listed can't sell. And with a store, at 20 cents an item, it's totally worth it to list whatever we can get our hands on!
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