Let’s take a few minutes to discuss what sold on eBay this week. Plus, I have a few reseller tips that I’ve learned in my short time. Read on to find out more. Or, watch the video to be soothed by my melodious narrations regarding eBay profit margins.
Here’s a link to my eBay store and current listings:
Link to Dymo 450 Twin Turbo thermal label printer #ad
What Sold on eBay This Week
I had three sales in the past week: two vintage cameras and a vintage 80’s portable cassette player. Both of the cameras came from the same auction lot – 22 cameras that I paid $76 for. So, I’m considering the purchase price of all the cameras to be $3.47.
The first sale was a Nikon Tele Touch 35-70mm point and shoot film camera. This one sold for $24.95 plus shipping. eBay fees came to $3.42. Paypal fees ended up being $1.33. That left me with a net profit of $16.73.
Next was a nice sale, a vintage Minolta Hi-Matic AF2-M film camera. This one I had listed for $79.95 and then I dropped it to $74.95 after a few weeks. I had a lot of views and a lot of people watching it, so I knew it would sell. As soon as I dropped the price it sold within a few hours for $74.95 plus shipping. eBay fees came to $12.20, and Paypal fees were $2.75. That left me with a net profit of $56.53.
The last sale of the week (so far) was a vintage GE cassette player. This came from a separate lot of vintage electronics that came to 11 items. I paid $16 for this lot, or $1.47 apiece. It was listed for $14.95 and received an offer of $11.00 plus shipping. I took that offer; eBay fees came to $2.08 and Paypal fees were $0.80. That left me with a net profit of $6.67.
Overall, my net profit for the week’s worth of sales was $79.93. Not crazy, I know, but it’s better than last week and I’m still learning. Even at that pace it’s an extra $300 a month for something that I enjoy doing. I pray for continued success in this venture as I can really see how it can impact our lives for the better.
eBay Reseller Tips
So now, a couple of quick tips for everyone. First, remember that the profit is made in the purchase. Getting a good purchase price is paramount. If the margin is too small, don’t buy it. If you’re forced to drop the price for whatever reason, you won’t have the flexibility to do so at a profit.
I like to buy with the goal of earning a 10x ROI on my purchase. That’s just a goal and it doesn’t always work out, but as long as that’s my average then I’m good. It really forces me to only buy profitable deals and to really evaluate a purchase.
Additionally, getting a good purchase price ensures a large enough profit margin to cover the eBay product promotions that I do. I do pay additional eBay fees for them to sponsor my items. The percentage varies based upon the product category, but it’s nothing too crazy.
Personally, paying a few extra bucks to offer a greater chance of my items selling quicker is worth it to me. Plus, since I buy at a good deal with my ROI in mind, I know I can afford to sacrifice a few bucks.
Finally, I picked up this Dymo 450 Twin Turbo label printer at another auction. They’re normally around $130 and I got this one brand new in the box for $81. That’s awesome, because I was finding it really inconvenient to print shipping labels with my current setup. This should help a ton!
Now it’s your turn to continue the conversation. Leave some reselling tips below and share your knowledge for the rest of us!