Little one is with Grandma for the day (doesn't happen often, whole other story. . .)
I needed something to occupy my mind. I keep feeling very overwhelmed by the mess that is my shop right now. So, I decided to take a look at my ebay and etsy store and see what would be the best type of item for me to add right now.
That's when I realized that most of the items (over 100 on ebay) I have both places are under $20.
In my ebay store I only have 16 items that are $50
And only 2 items that $100 or over
Most of my items are in the 24.00 range.
My etsy store is even worse.
I've been getting a lot of low ball offers lately, and I'm wondering if it's because the price of items I'm selling.
So I decided to be my most productive with my day I would get photos of my big stuff, get it put safely away (as a lot of it is glass and breakable, great for stacking precariously in my shop, right?) and listed to put some big ticket items in my store.
I still love all of the small stuff, but I have realized that I spend a lot of time dealing with the small stuff to get to a big payout. My new goal is to only buy things that I can sell for a profit of $10 or higher.
Speaking of which, I recently decided that anything I sell on Amazon I will only buy if it makes a profit of $15 or higher. A few months ago it was $10, and when I first started out 2 years ago, I was happy with any price over what it cost me. (although alot of times I ended up paying someone to take it, you live, you learn!)
I think I might be getting the hang of this finally.
So, here are my 2 questions for you today:
1. What profit margin do you look for in items to resell. Do they vary for different selling venues?
2. How much do you spend on new inventory? Do you go by items or amount? Do you have a budget each week, each month, base on it sales? We've been doing Dave Ramsey's Financial Peace seminar since I found it at a garage sale last summer. Now that I'm getting so much inventory, I feel like I need to decide on a budget or goal for what I put away and what I spend.
Here are some of the "big" ticket items I listed today. I'll let you know how it goes.
Vintage Double Gooseneck Lamp
listed at 59.99
Mid Century Modern Lamp
Sitka Picture
still need to do some more research on this one, it's signed and numbered, just not finding any other sold by the same artist.
Mid Century Modern Display Shelf
listed at 69.95
Wire 2 tier basket
I think I listed this one at 69.95
Are you interested in purchasing any of my items ?contact me, tell me you saw it at granny's hoard and I'll give you 20% off the listed price.
For Amazon I look to atleast double my money after fees. eBay I try to triple my money. On either venue I try not to pick up anything that will sell under $10
ReplyDeleteI try not to buy anything unless I can make at least $10 off it. Most of my merchandise is from garage sales and I pay about $1 for them.
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