Tuesday, June 27, 2017

How to Get Top Dollar for Items You Sell on eBay

This post is contributed by an eBay consignment seller who wishes to remain anonymous.

So you're one of the lucky sellers who has access to incredibly low cost merchandise - whether you are hitting the bins at GoodWill or are super influential at estate sales. Or maybe you volunteer at a thrift and get a discount or inside scoop about upcoming sales.

Whatever you sell, no matter how you buy it - have you noticed how cheaply merchandise can sell for over the past couple of years? High-end electronics, extremely desirable collectibles and similar still demand a good price. But clothing and accessories, the most popular items to source and sell on eBay, often go for insanely cheap prices. I've been a seller for close to 20 years and have watched the competition increase and prices go down. To boot, eBay has added features which show the buyer competing items - similar or identical to yours - which can easily sway a buyer to someone else's item.

That's great for buyers, but not so great for sellers. And while some of us maintain a stance that we will attempt to sell at deep discounts off retail, but in a win-win for seller and buyer but closer to, perhaps, consignment pricing, other sellers who can source items for a few dollars per pound think of it differently. For instance, if your net cost of a high-end dress is under $2, selling it for $15.99 is a 1000% profit, right? That's impressive. Until you think about a few things:

What is your time worth? How long does it take you to evaluate the item, inspect it, photograph it, measure and list it, store it, retrieve it and pack it up? How much does the label cost? We won't factor in driving to the post office as so many folks have doorstep pickup. How about eBay fees?

Let's look at our $15.99 example above and do some math.

15.99 sales price
-2.07 ebay/paypal fees (13%)
-.20 listing depending upon your store subscription
-2.00 purchase price
-2.00 income tax paid on April 15, depending on your bracket and how your expenses factored into your income

9.72 is what you've really made on this item. Unless you offered free shipping. Yikes. Then you're down another 2.50 at least.

Considering that minimum wage is $10.10/hour in my state, you're making under minimum wage on that item, perhaps a little more if all the activities per item take you less than an hour when factored together.

While it's great to make ANY wage while being your own boss, wouldn't it be even greater if you made more? If you considered, rather than net profit on the piece, what the marketplace is willing to pay?

What if we all did that? What effect would that have on everyone's bottom line? Instead of trying to undersell the competition, what if all 20,000 of us on this site collectively took action to raise our collective bottom lines?

I can tell you personally, I have successfully maintained a higher price point and have had success with it. I feel by going for the win-win - the customer is happy with a great deal and quality item, and I'm happy with a significantly higher profit margin - you develop a better reputation than you do when you're giving away the farm. As a marketing director in my full-time job (eBay is an unavoidable addiction), I know that  you diminish the value of your product and your brand when you give it away.

You may disagree with me, and that's certainly your right. But I don't even know you and I know your time is worth a lot more than you're getting if you're lowballing to beat the competition. So take a look at your costs and your time holistically, and consider the impact our community can have if we ask for what we're worth.

Related Articles:

eBay Quick Tips

How $20 in Sales Add Up Over a Year

Huge eBay Seller Controversy

Thursday, June 22, 2017

How to Deal With Slow Summer eBay Sales

It's that time again. Time to regroup and get ready for Back to School and 4th quarter.

If your eBay sales are slow, as they may be during summer, here is some advice in the form of a video. Summer is a slow time for many retail businesses and other industries, don't take it personally. Have patience, it is just a cycle.

Lots of ideas here for how to use this slow time in a productive way. Sales will bounce back, they always do!

If you have not booked your seat for the Dallas Training Event, it is time! Reservations must be made at the hotel (if you plan on staying overnight) by July 1st. Seating is limited for the training, so you don't want to miss it!

Also, now booking for:

Charlotte on August 19 (SouthPark Area)

Orlando on September 16 (Disney Area)

Thursday, June 15, 2017

Join Us in Dallas on July 22 for LIVE in Person eBay Training

We are so excited about our upcoming training in Dallas on July 22.  There was such a large response that we have secured a larger room so that more people can attend. And this was no easy task! I called about 6 hotels before finding one that had any available conference rooms. Lots of weddings, family reunions, and other events taking place so meeting rooms were scarce.

So, here are the details:

WHAT:     8 hours of hands-on training - read all the details here

WHEN:     Saturday, July 22 from 10 AM to 6 PM

COST:       $749 for the 8-hour workshop (Payment plan available - contact me here for info.)

ROOM RATE: We have a special room rate of $125 per night for up to 3 nights. This is a Marriott Suites, so all rooms are suites. Rooms must be booked by July 1 to get this rate. I can send you a direct link to make reservations online. 

Secure your space now so you won't miss this event in Dallas. See what the sellers in Atlanta had to say about this event, or feel free to contact me here with any questions or further details.

See you in Dallas! 

Wednesday, June 14, 2017

New Feature - eBay Daily Video Tips

Don't have time to read up on eBay information? Well now you can listen. I have added a new playlist on YouTube for Daily eBay Video Tips.

No topic is off limits! These tips are 2-5 minutes long, on a specific topic, straight to the point, with links to facts to back up what I am telling you about. No rambling, no fluff, no lengthy diatribes about this or that - just short, sweet, and to the point information with no background noise or distractions. Real information you can use!

So far I have 15 videos ready - you can just let the playlist run while you work on other things.

I have been selling on eBay since 2003 so I have many years of eBay experiences rolling around in my head that I can share with you to help you make more money on eBay. You know, those "oh by the way" thoughts you get at 2 in the morning...

The playlist is here. If you are not subscribed to my YouTube Channel, make sure to click the red subscribe button so you will get these tips in your email as soon as they are posted.

I am open for suggestions on topics! What do YOU want to know about?

See you on YouTube!

Related Articles:

How to Make $2,000 a Month on eBay - The Math 

Selling on eBay When Thrift Store Prices are Too High

eBay Success Story - Disabled Seller Making it Work

Monday, June 12, 2017

Atlanta eBay Workshop a Success - Next Stops Dallas, Charlotte, and Orlando!

Our Atlanta Live Training was a success! What a great group of people to spend the day with learning about selling clothing on eBay. We even had one student drive all the way from Minneapolis, Minnesota to Atlanta! That is like a 17 hour road trip. She said she wanted to spend the weekend with like minded people and her peeps just happened to be gathering 1,100 miles away so she jumped in the car and drove south!

Testimonials from a few of the attendees:

Linda H. was said this about the workshop:

Linda sold her home in Buckhead that she had been living in for 40 years, and has much of her stuff in storage. She wants to learn more about how to sell her "accumulation" and downsize. 

The Mays drove over from Birmingham for the day, and they had this to say:

It is so nice when spouses are both on board with the business and it can be a family project. The Mays have 3 teenagers to put through college and eBay is how they plan to finance it. 

Beth posted on Facebook:

Melanie P. and Karen drove down to Atlanta from Cleveland, Georgia. Karen works at the post office and was able to answer some of our most burning USPS questions! Melanie works the medical field in vascular health, and has been selling on eBay for 20 years! They stayed in Atlanta and went shopping on Sunday, and texted me this:

We are so thrilled that everyone who came found the information helpful and enjoyed the day. Here was our agenda:

Are you ready for an 8-hour, hands-on, intensive eBay training? Our tour schedule for the next 3 months is:

Dallas, July 22 (Near DFW Airport)

Charlotte, August 19 (South Park area)

Orlando, September 16 (Disney Area)

If you are interested in attending any of these upcoming trainings, read more about the workshop here.

Deposits can be made NOW to hold your spot, as space is limited. Feel free to contact me here if you would like to discuss payment options or need more information. We need at least 10 people per city to commit to guarantee the event will take place. Dallas is already confirmed. 

We are so excited to be able to help you, in person, with your eBay business and are looking forward to meeting you and having a fun and educational eBay day!

Happy Selling,

Suzanne and Melanie