I’ll admit it. I’m obsessed with ebay. Not buying, selling. I used to be an ebay reseller many moons ago. In fact, I was quoted in an article in The Boston Globe on my ebay re-selling habits. Then life happened, work, kids, etc…and who had time for ebay anymore. That was the case for about 9 years..until last month. I got bitten by the bug.
Only difference is now, it is waaaaaaaaaaaaaaayyyyyyyyyyyy more sophisticated. You don’t just pop a picture on ebay and sell your stuff. I mean you can but why would you when you can make some serious cash if you play the game properly. Here is where we get to the part on my addiction. It only takes a few sales to get hooked. My husband and I have so many things around our house including cameras from the photo booth company we used to own. So I threw them up there and BOOM. Literally 3 minutes after I posted the camera for $50 it sold (I’ve learned this means I priced it too low :-)) I posted another camera, same thing. So on and so on.
But then you start watching YouTube videos and you learn about retail arbitrage. This is when you go to the store or online and buy something for cheap and then flip it for more money. So I start researching this. I find things on many websites that are much less than the items have recently sold for on ebay. I buy them. I’m to the point now where every time we go to a brick and mortar store, I’m headed straight for the clearance section. We did our first flip from Staples. It hasn’t worked out great. We bought an internal memory for a desktop computer for $25.50. We sold it for $37 with free shipping. By the time we did ebay/paypal fees and shipping we made $3.10. Not.Worth.It. Now, I had looked up these items in the store before I purchased them but with all re-selling, people might not need your item right this very minute. We also bought some Built Bento Lunch Boxes at Staples for $7. We sold one for $7.25 and after shipping and fees we lost .87. Again, still figuring it all out and this was all during my first week when I had no idea what I was doing. Things like, price your item slightly higher and offer free shipping.
So then I watched a few more YouTube videos (can you tell this is a problem) and I learned about membership based sites like Tactical Arbitrage where you pay a monthly fee and they do all the searching for you..but wait..it’s only for Amazon resellers. Well that sounds like a good plan. I sign up. Then I learn the terms FBA (Fulfillment by Amazon) and so many more. I learn about search rankings on Amazon, profit margins, storage fees and more…all in ONE FREAKING MONTH. I’ve made some handy dandy excel trackers to keep myself organized because at the end of the day if you want to make some money, you have to spend some money to get products to flip. Of course, I’m still selling everything in my house 🙂 Last night I added 35+ listings to my ebay store. But I have a few things I’m waiting for in the mail that I’m hoping to flip in my first go at Amazon for a good profit. I’ll keep you posted. Wish me luck!