Many times we see sellers a little bit frustrated that they have slow or no sales. We also see questions concerning that when sales do happen it is maybe not a big profit margin.
We will try to knock out two birds with one stone in this blog post.
Check out the video below for the “How To” of the app and then we will discuss a little more down below for the why we want to use it this way.
When it comes right down to it there are really only two ways to run your re-sell business.
#1 – Buy a lot of inventory with lower profit margins and sell a lot of that inventory daily / weekly
#2 – Buy Less Inventory that has a higher profit margin and maybe sell one a day or even a couple a week depending on your financial goals.
I have to say after selling for several years in the first option I personally prefer option #2. Less Inventory, Less Listing and chunks rolling into the bank.
Nothing wrong with ether option it’s a personal preference but doing 3-5 smalls a day is tougher for me as a part time seller.
Doesn’t matter what model you choose knowing how to use you eBay phone app effectively will make you a lot more money. It will help keep you from buying items that simply don’t sell or don’t sell for a good profit margin.
First make sure you understand the three options to look up items.
1) Type it into search
2) Scan bar codes
3) Take a picture
Next check out the filters and dial down what you are working with,
Condition – New / Used
Sort – Highest + Shipping
Solds – What do they really sell for?
Now that we have dialed down we can also look at how many are listed and how many have actually sold in the past 90 days. That is your “sold through rate” – Listed Vs Solds – Looking for 100% or better.
One last note – No matter how cool or pretty you think something is f they do not have a good sell through rate or profit margin to at least double your investment…PUT IT BACK ON THE SHELF!! This is a tough discipline but will keep you from over buying therefor lowering the profit margins of your total inventory.
Awesome! Now get out there and source some good stuff !
Re-Selling Star Wars Geek With A Golf Habit
PS .. Ready to step up the game in your re-selling journey? Check out what our friends over at Flea Market Flipper have to offer! ==> How To Hit $100 Sold In Your first Week!