Comments on: Don’t feel like you need to be an expert. http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html Mon, 06 Feb 2012 16:39:09 +0000 hourly 1 By: Peggie http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html/comment-page-1#comment-414 Peggie Sun, 13 Feb 2011 17:56:53 +0000 http://www.sellthingsonline.org/?p=315#comment-414 This is so helpful. Thanks to all of you who have posted. This is so helpful. Thanks to all of you who have posted.

]]> By: Eunice http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html/comment-page-1#comment-320 Eunice Sun, 18 Jul 2010 19:41:54 +0000 http://www.sellthingsonline.org/?p=315#comment-320 It was a dream come true when I got my I-phone. I can immediately sign in to Ebay from the thrift store or estate sale and see if an item is there and what it's popularity is. This has saved me from buying things that will probably never sell on Ebay. It was a dream come true when I got my I-phone. I can immediately sign in to Ebay from the thrift store or estate sale and see if an item is there and what it’s popularity is. This has saved me from buying things that will probably never sell on Ebay.

]]> By: Serena http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html/comment-page-1#comment-304 Serena Thu, 10 Jun 2010 19:31:14 +0000 http://www.sellthingsonline.org/?p=315#comment-304 Oh, and another thing - when deciding whether or not to purchase something, the question I always ask is, "Will I be able to get $10 for this item?" If the answer is yes, I will go ahead and purchase it. I don't bother with anything that I don't think will sell for $10 or more. Oh, and another thing – when deciding whether or not to purchase something, the question I always ask is, “Will I be able to get $10 for this item?” If the answer is yes, I will go ahead and purchase it. I don’t bother with anything that I don’t think will sell for $10 or more.

]]> By: Serena http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html/comment-page-1#comment-303 Serena Thu, 10 Jun 2010 19:28:26 +0000 http://www.sellthingsonline.org/?p=315#comment-303 I concur with StrayFinds. My general rule of thumb is to not pay over $2.00 for 90% of my items. Every once in awhile, I will pay more if I have a hunch about something. Unless you really know how popular the item is on eBay, $2.00 is a good flinch point. If the item never sells, you're only out a few dollars. I list everything first at auction, usually at $9.99. If an item doesn't sell, I raise the price, and move it into my eBay store, with a Best Offer option. One important thing to keep in mind is that the higher you price something - within reason - the higher the perceived value to the buyer, which is why I almost always relist my unsold items in my store for higher than what I started out at auction. Some buyers will not even bother to make a best offer and buy the item outright at my listed price. Others will even offer a higher price! Of course, you will get buyers who will make a low offer, so I always have a dollar figure in my head as to what I will accept for an item, so I will either accept or decline or counteroffer accordingly. If the buyer totally lowballs on the price, I will just decline their offer. I don't bother submitting a counteroffer in this instance, as the likelihood that the buyer will accept my counteroffer is very slim. I usually keep items in my store for up to 2 years. But how long you decide to keep an item in your store will depend on your storage space availability. I will admit, this will require you to stay really organized and have a system in place for keeping track of everything, but if you're running a serious business, you will need to have some kind of inventory control in place anyway. With eBay's recent change to their best match search, a lot of my older items have been selling. If at the end of 2 years an item hasn't sold, I donate it back to a thrift store. I concur with StrayFinds. My general rule of thumb is to not pay over $2.00 for 90% of my items. Every once in awhile, I will pay more if I have a hunch about something. Unless you really know how popular the item is on eBay, $2.00 is a good flinch point. If the item never sells, you’re only out a few dollars. I list everything first at auction, usually at $9.99. If an item doesn’t sell, I raise the price, and move it into my eBay store, with a Best Offer option. One important thing to keep in mind is that the higher you price something – within reason – the higher the perceived value to the buyer, which is why I almost always relist my unsold items in my store for higher than what I started out at auction. Some buyers will not even bother to make a best offer and buy the item outright at my listed price. Others will even offer a higher price! Of course, you will get buyers who will make a low offer, so I always have a dollar figure in my head as to what I will accept for an item, so I will either accept or decline or counteroffer accordingly. If the buyer totally lowballs on the price, I will just decline their offer. I don’t bother submitting a counteroffer in this instance, as the likelihood that the buyer will accept my counteroffer is very slim.

I usually keep items in my store for up to 2 years. But how long you decide to keep an item in your store will depend on your storage space availability. I will admit, this will require you to stay really organized and have a system in place for keeping track of everything, but if you’re running a serious business, you will need to have some kind of inventory control in place anyway. With eBay’s recent change to their best match search, a lot of my older items have been selling. If at the end of 2 years an item hasn’t sold, I donate it back to a thrift store.

]]> By: Brigitte http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html/comment-page-1#comment-302 Brigitte Thu, 10 Jun 2010 18:34:15 +0000 http://www.sellthingsonline.org/?p=315#comment-302 Thanks Strayfinds, I could have written myself! Thanks Strayfinds, I could have written myself!

]]> By: strayfinds http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html/comment-page-1#comment-301 strayfinds Thu, 10 Jun 2010 18:21:58 +0000 http://www.sellthingsonline.org/?p=315#comment-301 Brigitte, you are so right! My theory is if you like it more than likely someone else will too! I have very eclectic taste that is why I love thrifting. So many things catch my eye and even though I may not be able to use it in my home decor or give as a gift I am able to pass that item on to give it another life through e-bay and other outlets. My best advice is to set yourself a limit to spend for an item so that your mark-up will still make you money and will sell the item the majority of the time. I do give myself a little margin for higher end items, vintage, and antique type of items. Same with new items, "designer" etc. Don't forget to use all the tools that e-bay gives us for searching current and clsoed items. This is a real eye opener. I try to get at lest 3 times what I paid for the item but sometimes I just make some profit, which I am not complaining about! I am certainly no expert I just love the hunt. I usually list everything at $9.99 and then move it to my store if it does not sell. I just used the "mark down" manager option with my store and have not run the figures yet so I am interested to see how that goes. I marked down 20% items I have carried for over 6 months because I have limited space now. Baby steps and I say have some fun with it and do not be so hard on yourself. You will buy something on a hunch, list it and it will top the chart and you will be surprised and that is what is so deliciously fun about e-bay! Keep up the great work. I so enjoy reading what everyone is doing as learning is part of the process. strayfinds Brigitte, you are so right! My theory is if you like it more than likely someone else will too! I have very eclectic taste that is why I love thrifting. So many things catch my eye and even though I may not be able to use it in my home decor or give as a gift I am able to pass that item on to give it another life through e-bay and other outlets.

My best advice is to set yourself a limit to spend for an item so that your mark-up will still make you money and will sell the item the majority of the time. I do give myself a little margin for higher end items, vintage, and antique type of items. Same with new items, “designer” etc. Don’t forget to use all the tools that e-bay gives us for searching current and clsoed items. This is a real eye opener.

I try to get at lest 3 times what I paid for the item but sometimes I just make some profit, which I am not complaining about! I am certainly no expert I just love the hunt. I usually list everything at $9.99 and then move it to my store if it does not sell. I just used the “mark down” manager option with my store and have not run the figures yet so I am interested to see how that goes. I marked down 20% items I have carried for over 6 months because I have limited space now.

Baby steps and I say have some fun with it and do not be so hard on yourself. You will buy something on a hunch, list it and it will top the chart and you will be surprised and that is what is so deliciously fun about e-bay!

Keep up the great work. I so enjoy reading what everyone is doing as learning is part of the process.

strayfinds

]]> By: Sue http://www.sellthingsonline.org/dont-feel-like-you-need-to-be-an-expert.html/comment-page-1#comment-300 Sue Thu, 10 Jun 2010 13:09:33 +0000 http://www.sellthingsonline.org/?p=315#comment-300 This was a major roadblock for me when I started selling online. I agree with you. If you want to become an expert, there's plenty of information online. If you want to sell your items in the meantime, keep doing what you know how to do. List it and sell it. Will you eventually sell something for a lot less than it was worth? Yes. I'm sure that I've let some good stuff go. But the key is to get (a lot) more than you paid for it. Study up in the meantime so you can tell a First Edition book from a Book Club Edition! :-) This was a major roadblock for me when I started selling online. I agree with you. If you want to become an expert, there’s plenty of information online. If you want to sell your items in the meantime, keep doing what you know how to do. List it and sell it.
Will you eventually sell something for a lot less than it was worth? Yes. I’m sure that I’ve let some good stuff go. But the key is to get (a lot) more than you paid for it.
Study up in the meantime so you can tell a First Edition book from a Book Club Edition! :-)

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