Friday, May 23, 2014

Finding Items to Sell on eBay (Part 1)

Part of the fun of having your own business is the "treasure hunt."  I love looking for gems that are overlooked.  Now I know I am fairly new at this and cannot get to the sales before everyone else sometimes so I have decided to delight in finding the "overlooked" wonders.

The amazing thing about selling on eBay is that it is accessible to the world.  You never know what someone is looking for.

When I am shopping I've learned to look for a few distinct things:

  1. Is there a name?  Is it signed.
  2. Is there a size or other pertinent information on the item.
  3. Is it broken? Does it have spots?
  4. Can I ship it easily?
  5. Will the shipping take too much from the profit?
  6. Can I make 9 to 10 times the cost?
  7. Am I excited about it?
Now I know the last one is very subjective but I want to sell things that I like.  I know that may not be the best route but for now it's the one I'm on.  

Number 6 is a key question:  Can I make 9-10 times the cost?  
I aim for ten but settle for double occasionally.  Currently I tend to sell smaller items so the profit margin is smaller.  I have to factor in the time I spent finding the item, photographing and listing the item, as well as packing it up into the price.  If I pay a dollar I want to charge nine to ten dollars to make it worth my while.  Sometimes though something is just too cool and I have to post it because of the enjoyment and other times I am trying to sell something I have had for a long time and I just want it to find a new home.

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