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Buying and Selling on eBay: Tips, Tricks, Problems & Questions

Discussion in 'Classic Menswear' started by HansderHund, Jul 27, 2012.

  1. TheNeedMachine

    TheNeedMachine Well-Known Member

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    Don't crush the man's dreams before he's even started. I'm rooting for you, goochman - get that $3k a week, $20 at a time! It's all about the Jackson's!
     
    1 person likes this.
  2. TheNeedMachine

    TheNeedMachine Well-Known Member

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    12 minutes per item is about right, for taking photos, measuring, writing ad copy, listing, packing, labeling and shipping. I'm down to about 3 minutes per item after buying speech-recognition software to create the description, which I use with my Google Glass to take the photos - all I have to do is stare at the item and talk.
     
    5 people like this.
  3. Koala-T

    Koala-T Well-Known Member

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    Dude, you aren't listening to the people on this thread who are best at this. That's troubling in and of itself. This is not easy. If you go into it expecting it to be, you will be sorely disappointed.
     
    1 person likes this.
  4. Fueco

    Fueco Well-Known Member

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    Hahahahaha...
     
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  5. guccihomme

    guccihomme Well-Known Member

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    I'm brainstorming out loud. I hear the feedback and know you've got experience and knowledge is valuable! Thank you.

    Right now I purchase thrifts for myself, for pm's asking for something.

    It's not a horrible idea to start an ebay account, even if all I sell was clothing purchased for myself I don't wear or have closet space for. Before I found my Canali blazer I purchased a few BB blazers, Mark Shale blazer, Hart/Marx blazer, all beautiful but I will not wear them when I have Canali & Zegna. I was going to donate them back or give them away for free.

    I need closet space for more tweed, windowpane, Armani, and Brioni waiting for me to buy and wear.
     
    Last edited: Dec 25, 2014
  6. My Main Man

    My Main Man Well-Known Member

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    I'm 100% convinced you are an internet bit now. I applaud you though. It's a great one.
     
    3 people like this.
  7. txwoodworker

    txwoodworker Well-Known Member

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    If that were true, that would be the shit.
    12 minutes an item that sounds realistic. I did a timing exercise for a few weeks and came up with an average of 11 minutes from procurement to the post office. Note that this is when I'm listing around 70-100 items a week, the per item time would probably be much higher if my volume was less (driving to/from the store takes the same amount of time whether you pick up 1 or 100 items). Selling 5 items per work hour, if you can clear $20/item is $100/h. It's not lawyer/doctor/kitchen designer [​IMG] money, but, I feel it's a profitable way to spend some free time.

    edit- can't believe I didn't mention, this jobs other benefits, like dressing 1000% better than I did a year ago for free, is a HUGE upside to my personal life and well being. You are judged by your appearance, and just like us looking at labels as a quick way to tell quality and value, people looking at a well dressed you, make an instant positive assessment of you. That assessment will either be enhanced or diminished by your personality, but it puts you at a higher starting position for personal interactions.
     
    Last edited: Dec 26, 2014
    3 people like this.
  8. guccihomme

    guccihomme Well-Known Member

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    The only unknown variable is how long it takes to sell. While browsing eBay as a buyer the most attractive listings I feel an impulse to purchase are Buy It Now & starting auction price 20% to 25% less than average competitors Buy It Now of same brand, and my Buy It Now price is 5%-15% less. For example, if I see five pages of PRL cashmere sweaters sell for $93, I would set a starting bid of $73.01 and BIN $81.02.

    The initial starting price/bid makes viewing the listing irresistible to view and a BIN price ~10% less is like winning an auction for less than market value & without the wait and uncertainty of auction outcome.

    My goal would be to sell quicker at lower price/profits than waiting for top dollar. I think lower selling prices reduces the risk of buyers remorse. For example, a buyer wants a chocolate PRL sweater but none are listed that day, and the buyer purchases a light brown PRL sweater instead of waiting for the color the buyer wants. A week later the buyer sees a chocolate PRL sweater for sale. My expectation is the buyer is less likely to make up a fake reason to return the light brown sweater so he can buy the chocolate sweater if he believes the price is so good he "won" my listing and my selling price will not happen for the chocolate sweater in the near future.

    Is buyers remorse a very rare phenomenon?
     
    Last edited: Dec 26, 2014
  9. guccihomme

    guccihomme Well-Known Member

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    I like you. Your posts are spot on and insightful.

    Thrifting changed my entire wardrobe. I couldn't afford to buy a closet full of high quality suits and wool trousers. Ten Canali & Zegna suits is more than $15,000 at department stores. Add a dozen dress shirts and ties, a couple wool and cashmere sweaters. That's a large investment and I would rather spend it on my interests, a Corvette, tickets to Notre Dame football games and Cubs tickets.

    My idea dressing well was chinos, polo's, a few dress shirts from Target, and 1 BB dress shirt. A cheap blazer for "formal" needs. I believe matching a blazer and chino is called a California Tuxedo.

    In the past month I purchased a dozen sc/blazers, 20 shirts, 5 wool trousers, several wool swearers, 6 ties, and a few casual linen shirts. There is a good number or Canali, Zegna, Zanella, BB, Armani thrifted.

    The reaction from strangers is unbelievable. Wearing a polo and chinos people are friendly. Wearing a Canali blazer and strangers initiate conversations, smile more, women gaze longer, listen more attentively. I was renting a movie and had a 1 day late fee from the previous rental, the woman working smiled and removed the fee without any suggestion from me. At McDonalds I ordered a McDouble. The lady manager gave me a free soda cup smiling and saying come more often. People were nice before but now it's different. Stuff like that is common in my life and happens every day. Christmas Eve I made a trip to Walgreens for a last minute purchase of A&W soda. A younger lady with her boyfriend were in the crowded store. She looked at me and smiled. The boyfriend noticed and felt the need to put his arm around her and kiss the side of her face. They got in line before me. When I got in line she gazed at me smiling. It was obvious the boyfriend was frustrated.

    The total money I've spent thrifting is less than the MSRP of one fused blazer at Macy's with fabric that feels like cardboard and fits so large it can accommodate a man with the same chest size as me but with an extra 75 pounds of love handles and belly.

    When I look at everything I have been blessed to receive thrifting and the price paid, it's better than winning a game show like Wheel of Fortune or Price Is Right. Everything is in like new condition and looks amazing.

    If I can flip for a small margin and make money upgrading pieces of my wardrobe it's a gift from God. It's amazing that my $9.99 Hart/Marx blazer that I thrifted before I thrifted a Canali blazer can cover the price of my upgrade and put cash in my pocket? Wow! Speechless.
     
    Last edited: Dec 26, 2014
  10. Jompso

    Jompso Well-Known Member

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    I agree, there's no way this is real. You are not really happening.

    Edit: And what is this California Tuxedo thing? Is this an actual phrase? I've never heard it.
     
    Last edited: Dec 26, 2014
  11. guccihomme

    guccihomme Well-Known Member

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    California Tuxedo is a phrase, chinos and a blazer. Friends who took employment in California say business attire is very casual & relaxed compared to the Midwest. I learned the phrase when I asked a friend what he wears at work, what's considered dressing well? Answer: California Tux. He said some programmers wear flip flops to work.
     
  12. Jompso

    Jompso Well-Known Member

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    [​IMG]
     
  13. thefastlife

    thefastlife Well-Known Member

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    YEP. IT'S JUST THAT EASY BRO! FREE MONIES.
     
    Last edited: Dec 26, 2014
  14. borbor

    borbor Well-Known Member

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    Lol at netting 10 bucks per item being worth the time.
     
  15. FlorianQC

    FlorianQC Well-Known Member

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  16. Fueco

    Fueco Well-Known Member

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    It's a matter of perspective and whether you're willing to put in the time building your business from scratch.

    Spoo once said in this thread that you have to be willing to sell lots of stuff at $5 profits before you have the customer base to sell at much higher profits. It's very true. Only those willing to work their asses off will succeed.
     
    3 people like this.
  17. chogall

    chogall Well-Known Member

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    That's probably much better than Amazon's net margin ratio.

    Just need either volume or margin for a business to work. Having both is usually a godsend.
     
    1 person likes this.
  18. Fueco

    Fueco Well-Known Member

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    Exactly, my profit margin on items I've sold this year ranges from a few pennies to $2000. The average is $27.40. If I had substantially higher volume (which I'm working on), I would be doing very well. And I will get there. What's holding me back right now is that my laptop is a fiver-year old POS with a bad internet connection and keyboard. Uploading auctions is an exercise in frustration. Once I get my new laptop, my productivity is going to go through the roof.
     
  19. Steve Smith

    Steve Smith Well-Known Member

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    I wouldn't laugh at the guy for being willing to knock out $10 per item. In fact, I give him a better chance of succeeding than the guy starting with the plan of "I'm only buying items which make a $100 profit".
     
    3 people like this.
  20. Fueco

    Fueco Well-Known Member

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    It's the morning after Christmas, and I've just finished packing 14 Ebay orders... Good times!
     

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