For some reason I've seen a lot of resellers that have this weird sense of pride where they say stuff like "oh I don't bother sourcing items that make me less than $30 in profit." And I think that's extremely arrogant. I totally understand that some folks have employees and overhead and $7 profit items may not be worth their time, but for someone with a single person operation working out of their home, $7 in profit for 3 minutes worth of work is always worth it. I've worked many minimum wage or low paying jobs in my life where I was earning $7-$10 per hour for work that was physically and emotionally exhausting. Anytime I earn a lower profit amount on an item I always think back to those times in my life. It makes me appreciate reselling and how much more fun, easy and enjoyable it is that any other form of employment I've ever had. Great video, man.
I don't really think it's arrogant to expect a certain price point we have figured out within my company that we need a $40 profit minimum because of our space constraints and our time there is a point to faster selling but I would rather sell one item with $40 profit then 10 items with a total of $40 profit. There are a lot of restraints in my business that you don't have to look into with the quick flip business but at the same time there's a lot of upside if you know what you're doing but it takes years to get to the point where we have gotten to. I generally sale between 20 and $30,000 per month with current volumes I don't think I could physically ship more than I already do just to make the same money
I totally agree with your theory of Quick flipping. I tell myself if I can make a $10 profit on 10 items every day I’m making 100 bucks a day. I think that’s pretty good. I really enjoy your videos.
I struggle with this though, especially because even if you price something on the lower end, people are going to make offers on it… so at what point should you take a sale and what point is it just devaluing the item? 🤷♀️
Yes I love flipping I just saw some of my items at 2-50 ahhh other sellers average price 15-20 on those items how are they getting away with this . Grrr it’s not good for people to make a living I just don’t get it how are they making money on this . Yes supply and demand.? I need reduce my prices to keep flow going thanks !, Yes big time feeling like that with many brands !
@@emilyhope7721 put it at the low end and NO offers. Offers just bug the crap out of me. Price it at the low end or even below everybody else’s, then don’t allow offers. It will go.
I have a 12 tote clothing death ☠️ pile and I started pricing more competitively and things started selling and it has made me more motivated to keep working my death pile
I can list about 10 clothing items per hour. My way of thinking, even if I only make a $5 profit per item, I’m potentially making $50 an hour. And try to keep in mind that we are in the reselling business, not the storage business. This helps me keep my business in perspective.
@@karenromero3290 I'm with you, I rush rush rush and still take 10-15 mins to list. Even if I find a sell similar item, it still takes me 10 mins with photos/measurements.
Your content is so much more interesting than hauls and what solds. Though those are helpful too - appreciate you and hearing your thought process. Loving this strategy for myself.
Hearing you talk about the value people attach to what they're selling reminds me so much of reading when these people get so offended by people giving them lowball offers, and they type out the breakdown of the percentage of what the site takes, the tax, the this that. and the other, as if it adds value to an item for a buyer. When I'm buying something, I don't care if you get 100% of my money for it, or only 20%. Basic economics.
As emotional as it can be to price below your expectation, it feels crushing when an item still doesn't move even after you price it as near give away value or customers want an even bigger discount and the margins don't allow it. It can also feel like I am contributing to bottoming out prices in a particular market when I price on the bottom end.
Gosh I love how you put this so honestly. My business model is basically exactly like yours - I see a net profit of $7-15 on about 90% of my items but also about 75% of my items are sold within 60 days of listing. I spend LESS time thrifting than if I were being super particular about only picking items that made a higher profit therefore its a better way to spend my time. Thanks for making this video and busting the myth that there is more money in higher end sales.
Ive been watching several different sellers, all of whom use different selling models. So interesting! I sell mainly collectibles so quick flip seems to work less reliably as we often have to wait for the buyer who wants my particular thing which may be unique. Plus markets change. Im always learning and i get so much value from your videos. P.s. im not an angler but i understood your metaphor. Thanks!
As a reseller, I have been thinking about just this same issue. I think you are mostly right. If you have plenty of sourcing opportunities then you should absolutely try to maximize orders. You just need to think about the labor involved on average for each order, i.e. sourcing, listing, fulfillment, and calculate the profit per hour worked.
Dude your Manifesto for Men's Clothing is insane. You have made this a study and it's so awesome to hear your intellect on these topics. Thanks for all the knowledge!
I agree completely to an extent. I routinely find items that are deemed "impossible to find" these items should be at a premium because there aren't many (book sets over 1000$ or high end electronics etc). But for items that are bread and butter i sell quick flip always. Miss me womens jeans all day i price the quick flip batch them and dump them on ebay ship them on my next shipping day (3 day handling). Clothes, plush, media, anything that shipping is typically under 1 lb or has media rates is perfect for this model, and i love it! Especially if you list sunday night and work a FT also it makes Monday alot more fun, putting those wins on a monday can get you through the grind smiling cuz you made twice as much as anyone around you that day lol. Great metaphor!
The gray box... great idea. Yes, I'm attached to my items... jewelry pieces. But you are so right, I really need to be unemotional about it!! Appreciate your fish analogies too!! Thank you!!
If your prices are the same as everyone else, it will take me a long time to decide which person to buy from. However, if you have what I want at a lower price then I'll be inclined to jump on it before someone else buys it.
As someone just re-entering the reselling game, I've been trying to find a model that works. I think this is the approach I'm going to use. Id rather make $10 quick than have to wait an extra month or 2 to get $15-20. I could miss out on so many good items waiting on that capital to reinvest. Your videos get better all the time. I appreciate all your wisdom.
How about waiting a year for it to sell? Excruciating! Clothing is the worst to sell because it takes so long to get views. The size matters, the style matters. I end up going to consignment stores with the clothing that doesn't sell.
the most important thing I've learned about reselling is to source as cheap as you can, especially if you're selling lower priced items, try to spend $2 maximum on any item you buy, avoid sourcing from thrift stores unless they're cheap, flea markets, garage sales and estate sales are the cheapest in most cases, if you have access to a Goodwill Outlet (some people call them the bins), I would suggest going there first, they sell by the pound, you can buy a pair of jeans for no more than $1.50, you will find better stuff at the Outlets than the regular retail stores because the items aren't cherry picked through before they are put out on the floor, all the clothes are in big bins that you dig through, it's not a convenient as flipping through racks, but when you consider you can either pay 50cents vs. $12 for a shirt, its kind of obvious which one is better as far as sourcing goes, it's also a good idea to not assume something will sell for whatever reason, I did that when I first started and learned quickly that making assumptions isn't very smart, I think any reseller you ask will tell you that you will have items that may take a year or years to sell, even if you have them price very low, thats why its a good idea to source as cheap as possible, you'll have a lot less "dead money" wrapped up in inventory in the case items dont sell quickly, quick flipping is a good concept but if are paying too much for single items, you might be paying what the sells for on the low end, or in some cases you might even be paying more, which kind of defeats the whole purpose, I try to never sell anything less than $20 at the very lowest, I sold cheaper items when I first started until I realized the amount of monkey hustling that it takes just to make $100, when I stopped selling cheaper items, I was to work less hours and make about 3 times more profit, I still work around 70 hours give or take a week, it seems like a lot of people think that reselling is easy money, if you any reseller, they will most likely tell you its not as easy or effortless as people think, it takes a lot of discipline and hours to make enough for living expenses unless you another source of monthly income as well, sometimes I miss having a real job, because no matter how much it sucks, you know you will get paid for the hours you work, there's no guarantees in reselling, you have an occasional day when you don't make any money even if you work 12 or more hours, that's just part of the deal, the best way to avoid those kind of days is to constantly be listing new items, if you dont list items constantly you won't do very well, shopping is far more fun in my opinion but if you source more than you list you will accumulate more inventory than you'd probably to like to have, that's another mistake Iearned the hard way, I wouldnt have ever thought clothes would take up as much space as they do, sometimes I think it wouldve been smarter to stamps or coins, it would take an awful lot of stamps or coins to completely fill 2 bedrooms and a garage
@@sonnyboy2040 You got it! That's truth , you can't pay 7.99 at the goodwill , you have to go to the bins or the Dusty thrift stores in the city on days when all cloths is a dollar or some by me do everything half off on the last Saturday of the month . Go.on days when it's dirt cheap and stock the f@k up.
Love these concepts. I've been going through the ups and downs of sell through rate. I've dabbled in what you refer to as quick flipping for higher end items like 200 and up. The lower end items I have a harder time quick flipping.
I have been doing it this summer using high sell through combined with 5% promoted listings and I have not noticed ANY slowdown this summer at all. I have really implemented sell through into clothing and it has helped so much. I will take 7 to 10 dollars per sale for 100 sales over 15-20 per sale for 25 sales in the same amount of time with slower movers any day.
I don’t have a problem selling my items for lower average sales price because my thrifts are so plentiful. I know I’ll find big dollar items every few weeks and it’s all about the averages. I pick up women’s Rothys brand shoes for $6.49 and sell them for considerably more so I too don’t mind selling a Robert Graham shirt for $25. I constantly have to remind myself to not get emotionally attached to the brand name or the idea of “what it should be worth”. Please keep up with your content. I would have never picked up a PFG 4X shirt and I did thanks to your videos. And it sold. In one hour.
This is so true. It is hard to emotionally separate yourself from what you think an item should sell for, but I’ve been working on it lol. I had someone create a bundle of 2 items and total was $95. She sent me an offer for $50 and my first instinct was to counter but then I talked myself out of it and accepted. my cost of goods was only $7.50 so I still made a great return :)
I love a good analogy! It really does help me fully learn and understand a concept. Now watch me butcher it while I try to impress my husband with a trout analogy 😂 Thank you for your knowledge and your time! I always try to contribute some kind of tip in my comments…..Some quick flips for me are: American Eagle jeans, lulus formal dresses, shackets, chore coats and anything Y2K right now!
With the huge amount of competition, I think your mentality for selling in volume is definitely the way to go. Great video. Definitely time to reset my mentality!!
Hahaha i love the fish story. I had a similar experience in the tetons this past weekend. Also on a serious note, its a very true concept when it comes to sales and buyers
I find your videos very informative and have learned so much. I believe in the work smarter not harder approach and can’t justify buying a Robert graham shirt for $7 to flip for only $25. I am thankful that reselling offers more than 1 way to be successful. Congratulations on your success!
I have about 50/50. Quick flips and higher listing prices. Buuuuut that's because I keep finding luxury items near me. Or pricier items that aren't luxury. Both have worked out for me. Once I can't find luxury items anymore, I'm definitely all for the quick flips. Especially if you get a lot of them on the same sourcing trip to save time. It makes it worth it that way.
Not a resaler, but have been watching a few, even subscribed. As I move into retirement and care for aging parents, dispersing personal inventory seems relevant. My perspective is that most resellers want top dollar and are spear hunting not trout fishing. I enjoyed listening to your perspective. May I recommend the book "Essentialism", currently reading with recommendations by a Ebay reseller on RUclips. 💞 😇💞
I think sometimes we get wrapped up in the hype of being able to say we paid a dollar for something and sold it for $50 or $100 or whatever, just to be able to say we did that huge, great thing. Personally, I would rather sell 10 things and make $10 on each one than wait however long for that same item to sell for $100. Like you said, most people are looking for a deal. If it truly is a collector's item, then mark it at collector prices. Otherwise, give the people what they want = a deal :)
Love your videos, my sister A poshmark seller sent me to your channel. Bought a pair of waders for ten. Offers for 25 turned down more than one. Sales for 60 on Ebay. Still sitting after a month.
I think you're a 100% right to think about the motivations of the buyers. Looking back at my own buying history, you're right about that, too -- I'm either looking for a bargain on a known quantity, or I'm hoping to find something hard to find at a good price. So, yeah, this approach sounds dead right if you're looking to make a reliable return with fast turn around. Thanks for the straight talk, again.
I look at it differently - I'm more interested in the longer quarter vs the quick nickel because what I'm trying to do is maximize my hourly rate and I'm willing to wait to get the higher hourly rate. If it takes me 12 minutes on average to process an item (shopping, listing, shipping) I'm willing to wait a few months to make $15 on the RG shirt vs $7 because that changes my hourly rate from $35 to $75. My business model can handle that because I have the space for storage and enough cash flow that keeping the capital tied up isn't a problem for me...and sometimes I end up having to drop the price on the RG shirt after keeping it for a long time to only make $7 anyway. There is no right or wrong way - it all depends on your particular situation. Thanks for sharing your thoughts.
What's the rush? Why kill the market value? I dunno 🥺? I can afford to wait since buying low and selling reasonably priced and people should aim for better returns on their money.
I am having more success moving toward a quick flip model. But I had an Ariat western boot listed for $66. I got an offer for $40 which is probably what I would have charged a family member, but I counteroffered at $50. Shopper countered with her original $40 offer, so I shared it repeatedly to the TOP of my Poshmark closet and sold it for $60 to a new buyer same-day. So I find myself having a divide between what I will part with cheap and hold out for. But since I started my closet with donated items that divide was expected.
I’ve been sourcing men’s clothing ever since I found you and got your manifesto. I flipped about 20 pairs of men’s shorts and/or swim trunks in less than a month, my fastest and best sellers. Got my store moving after months of doldrums. I owe you a few coffees.
I agree with you. I do the same thing. I need the quick flips to keep merchandise moving and to get money back to keep going. It builds momentum and excitement.
Between this and the burnout video, I really appreciate both. Dig the honesty and viewpoint, this is the type of stuff I, personally, find helpful. Thank you
Enjoying this vid. Just getting started and did just what you are describing. Priced a bit below average and all sold fast. Great to get start up cash. I prefer this quick flip way. I am rather impatient.
I do quick flipping the exact same way. I have major doc and medication bills every month and don't have time to wait for something to sell at a high price. I start panicking if I don't make my quota. My quota is different from many, mine's to survive, literally. I enjoy your videos and the way you think.
Hmmmm I may need to start rethinking things. I just found 2 brand new in package designer sheets in my basement. I put them up on offer up for $15 then went to list it on ebay only to find out they were selling for over $60.! I listed it for $50 and before I could finish listing the second one someone bought it. I listed the second one for $56 because it was a larger size and within a half hour someone offered me $50. I Didn't take it .... I probably should have. We'll see what happens
Thanks! I’ve been moving in the quick flip direction and my sales and profit have increased greatly. Your rationale makes perfect sense to me where I’m at right now. BTW now I’m craving fresh trout! Gosh darn, I’m hungry.
Thanks for this video, I am new to flipping and when I priced my items at their market value they were taking forever to sell, I was starting to become disheartened and even considered quitting this whole flipping thing, so I decided to which to quick flipping strategy and selling items under market value and now things sell fast, yes im leaving money on the table and it hurts but im actually enjoying reselling now, because I have sales taking place and profits coming in, even if they are smaller profits.
You’re awesome. I like you!!! I’ve sold 400! In 6 months so I get what you mean about quick flipping. I think what I’ve learned so far is take that shot but don’t wallow in my expectations. Keep it moving!!! Stacey in Vegas
Brilliant advice. Thank you. What you described with the trout analogy was spot-on. When I first started purchasing on eBay, I had a certain price point, and it was generally clothing that interested me. If the one (or more) transactions went well, I saved that seller and continued to peruse their inventory--sometimes they had items that I _initially_ had zero intention of buying, but later ended up purchasing because of my experience with that first purchase. Some sellers went above and beyond, wrapping/folding the item (and sometimes including a note) so nicely that I appreciated that effort and vowed to give them business if something of theirs caught my eye. I know how time-consuming this is/was. I would go on to purchase big-ticket items from those sellers.
I live in a small town in Alabama and came home yesterday with a bag full of stuff that has over 100% sell through rate. IronHeart, Buck Mason, and more. This isn’t California, but this proves the good stuff is everywhere. Thanks for the great content.
Teaching my college student son what I know about eBay because typical student jobs don't offer as much potential profit and flexibility as reselling. Just yesterday I used the exact same investment analogy as you have in this vid to describe to him a different way of looking at reselling. Another way to look at it, the $20 I spend on sourced items, after reselling, pays for my $100 electric bill at a discount. It ceases to be important how much money you are making on an hourly basis and becomes a matter of return on investment with this mindset. And I agree that this is when reselling becomes fun and profitable!
THANK YOU THANK YOU THANK YOU! I just had the biggest ah-ha moment listening to this video! I'm always so afraid I'll price something too low and "miss out" on that awesome "it sold for HOW much?!" moment that I've lost sight on WHY I'm doing this in the first place ... TO MAKE MONEY!! Absolutely makes so much more sense to price it so it will flip quickly vs sitting - because all this inventory collecting dust waiting for that "wow" flip is not making me a single penny!!! You have just opened my eyes and completely changed my thinking. SOOO glad I came across your video .. just subscribed and look forward to more ah-ha moments! (and fishing metaphors LOL!)
I really like this concept and for sure will follow it on my business and also... i realized while youre talking why my sales are so slow because i priced to high..🙈 Thank you for sharing👍🙏
THANK YOU for this!!! - I have been a FB seller (private group) for several years now and I am considered a low dollar seller. I am used to selling 400-600 items every two weeks, all low dollar and that is why they sell, because I keep my prices very low plus still make a profit. - I've decided after 2 years that I am going back to ebay for a while, because whereas the low dollar selling has paid the bills well enough, I also work my butt off. So I want to go back to ebay for some higher priced items to lessen the load a little. - I came in to a huge haul of very nice higher name brand big mens clothes so I will be going back to ebay with those. And I have struggled as I get ready to list with two things. ------- Do I price them in the same higher range as other sellers or do I lower my price to flip them quicker. AND.........SPACE. My home is small and there are two of us here and I'm finding that my death piles are absolutely taking over the house. I don't want to sit on stuff for months on end. I need/want it to move relatively quick so I can not overwhelm the household and still be able to continue to source before winter. - I say all of this to say thank you, I needed to hear these words today.
I think whatever method keeps your energy and fun levels up is a good one. (100% Agree about emotional attachment btw - if we can liberate ourselves from linking our self-esteem to pricing, or brands we like, I think things get easier).
My favorite thing - when an item goes immediately from my "photographed/needs to be stored" pile directly into a poly mailer to ship out. Love getting my money and return back faster even if it's slightly less than it could have brought waiting a few months. I do this mostly by pricing mid-high range based on comps and running a sale.
HIi, Matt Quoting Heraclitus at 7:23/21.05. about stepping in the same river twice change it to a fishing metaphor by stepping on the same fish twice, of course the second time would be easier since the fish is mashed and not the same. Hence it all works and its the same quote. LOL
I always try to use the 100% rule. If I make 100% after expenses...I have been successful...no matter what the item is worth...it gets me nothing sitting in a box...
Your model is 100% true. I've been reducing my prices with no offer, but with free shipping. I want the quick flip and not to wait months for my items to sell for the full asking price. I want the income coming in fast.
Learning to much from your videos!! Im still learning , looking brands that you recommend, I have my list with all brands that you mention, hard to find in Georgia . You should do thrift and flip conferences!!
So true about thrift stores in San Diego (not all, but most of them), you can literally Cherry Pick every single thrift haul, they mark up but the quality is 🔝🔝🔝🙌🏻
For some reason I've seen a lot of resellers that have this weird sense of pride where they say stuff like "oh I don't bother sourcing items that make me less than $30 in profit." And I think that's extremely arrogant. I totally understand that some folks have employees and overhead and $7 profit items may not be worth their time, but for someone with a single person operation working out of their home, $7 in profit for 3 minutes worth of work is always worth it.
I've worked many minimum wage or low paying jobs in my life where I was earning $7-$10 per hour for work that was physically and emotionally exhausting. Anytime I earn a lower profit amount on an item I always think back to those times in my life. It makes me appreciate reselling and how much more fun, easy and enjoyable it is that any other form of employment I've ever had.
Great video, man.
I agree with what you have said totally!!! 👍🙂
Great way of looking at it Hairy Tornado
Also love you channel Hairy Tornado
I agree
I don't really think it's arrogant to expect a certain price point we have figured out within my company that we need a $40 profit minimum because of our space constraints and our time there is a point to faster selling but I would rather sell one item with $40 profit then 10 items with a total of $40 profit. There are a lot of restraints in my business that you don't have to look into with the quick flip business but at the same time there's a lot of upside if you know what you're doing but it takes years to get to the point where we have gotten to. I generally sale between 20 and $30,000 per month with current volumes I don't think I could physically ship more than I already do just to make the same money
I totally agree with your theory of Quick flipping. I tell myself if I can make a $10 profit on 10 items every day I’m making 100 bucks a day. I think that’s pretty good. I really enjoy your videos.
I struggle with this though, especially because even if you price something on the lower end, people are going to make offers on it… so at what point should you take a sale and what point is it just devaluing the item? 🤷♀️
I’m up to five today so far. As I stack them and tell my girlfriend.” I want to take this opportunity to make a point and to brag a little!”
@@emilyhope7721 Exactly.
Yes I love flipping I just saw some of my items at 2-50 ahhh other sellers average price 15-20 on those items how are they getting away with this . Grrr it’s not good for people to make a living I just don’t get it how are they making money on this . Yes supply and demand.? I need reduce my prices to keep flow going thanks !, Yes big time feeling like that with many brands !
@@emilyhope7721 put it at the low end and NO offers. Offers just bug the crap out of me. Price it at the low end or even below everybody else’s, then don’t allow offers. It will go.
You're so right. Emotion is our biggest enemy in reselling. I'm going to keep your words top of mind. Thanks for sharing.
I have a 12 tote clothing death ☠️ pile and I started pricing more competitively and things started selling and it has made me more motivated to keep working my death pile
Keep going 💪
I can list about 10 clothing items per hour. My way of thinking, even if I only make a $5 profit per item, I’m potentially making $50 an hour. And try to keep in mind that we are in the reselling business, not the storage business. This helps me keep my business in perspective.
Why does it take me at least an hour to post one thing? Taking pictures, measuring, and filling in description takes me forever.
@@karenromero3290 I'm with you, I rush rush rush and still take 10-15 mins to list. Even if I find a sell similar item, it still takes me 10 mins with photos/measurements.
Your content is so much more interesting than hauls and what solds. Though those are helpful too - appreciate you and hearing your thought process. Loving this strategy for myself.
I’ve dropped prices low and the item still sits there so I raise it higher.
Hearing you talk about the value people attach to what they're selling reminds me so much of reading when these people get so offended by people giving them lowball offers, and they type out the breakdown of the percentage of what the site takes, the tax, the this that. and the other, as if it adds value to an item for a buyer. When I'm buying something, I don't care if you get 100% of my money for it, or only 20%. Basic economics.
As emotional as it can be to price below your expectation, it feels crushing when an item still doesn't move even after you price it as near give away value or customers want an even bigger discount and the margins don't allow it.
It can also feel like I am contributing to bottoming out prices in a particular market when I price on the bottom end.
Gosh I love how you put this so honestly. My business model is basically exactly like yours - I see a net profit of $7-15 on about 90% of my items but also about 75% of my items are sold within 60 days of listing. I spend LESS time thrifting than if I were being super particular about only picking items that made a higher profit therefore its a better way to spend my time. Thanks for making this video and busting the myth that there is more money in higher end sales.
Ive been watching several different sellers, all of whom use different selling models. So interesting! I sell mainly collectibles so quick flip seems to work less reliably as we often have to wait for the buyer who wants my particular thing which may be unique. Plus markets change. Im always learning and i get so much value from your videos. P.s. im not an angler but i understood your metaphor. Thanks!
I love how it feels like a genuine conversations listening to your video's... Instant subscription for how genuine you are.
As a reseller, I have been thinking about just this same issue. I think you are mostly right. If you have plenty of sourcing opportunities then you should absolutely try to maximize orders. You just need to think about the labor involved on average for each order, i.e. sourcing, listing, fulfillment, and calculate the profit per hour worked.
Dude your Manifesto for Men's Clothing is insane. You have made this a study and it's so awesome to hear your intellect on these topics. Thanks for all the knowledge!
I agree completely to an extent. I routinely find items that are deemed "impossible to find" these items should be at a premium because there aren't many (book sets over 1000$ or high end electronics etc). But for items that are bread and butter i sell quick flip always. Miss me womens jeans all day i price the quick flip batch them and dump them on ebay ship them on my next shipping day (3 day handling). Clothes, plush, media, anything that shipping is typically under 1 lb or has media rates is perfect for this model, and i love it! Especially if you list sunday night and work a FT also it makes Monday alot more fun, putting those wins on a monday can get you through the grind smiling cuz you made twice as much as anyone around you that day lol. Great metaphor!
another video with great insight. should be required watching for ebay sellers.
The gray box... great idea. Yes, I'm attached to my items... jewelry pieces. But you are so right, I really need to be unemotional about it!! Appreciate your fish analogies too!! Thank you!!
If your prices are the same as everyone else, it will take me a long time to decide which person to buy from. However, if you have what I want at a lower price then I'll be inclined to jump on it before someone else buys it.
As someone just re-entering the reselling game, I've been trying to find a model that works. I think this is the approach I'm going to use. Id rather make $10 quick than have to wait an extra month or 2 to get $15-20. I could miss out on so many good items waiting on that capital to reinvest.
Your videos get better all the time. I appreciate all your wisdom.
How about waiting a year for it to sell? Excruciating! Clothing is the worst to sell because it takes so long to get views. The size matters, the style matters. I end up going to consignment stores with the clothing that doesn't sell.
@@Chicago48 I'll keep consignments in mind for what doesn't sell. Thanks for the idea.
the most important thing I've learned about reselling is to source as cheap as you can, especially if you're selling lower priced items, try to spend $2 maximum on any item you buy, avoid sourcing from thrift stores unless they're cheap, flea markets, garage sales and estate sales are the cheapest in most cases, if you have access to a Goodwill Outlet (some people call them the bins), I would suggest going there first, they sell by the pound, you can buy a pair of jeans for no more than $1.50, you will find better stuff at the Outlets than the regular retail stores because the items aren't cherry picked through before they are put out on the floor, all the clothes are in big bins that you dig through, it's not a convenient as flipping through racks, but when you consider you can either pay 50cents vs. $12 for a shirt, its kind of obvious which one is better as far as sourcing goes, it's also a good idea to not assume something will sell for whatever reason, I did that when I first started and learned quickly that making assumptions isn't very smart, I think any reseller you ask will tell you that you will have items that may take a year or years to sell, even if you have them price very low, thats why its a good idea to source as cheap as possible, you'll have a lot less "dead money" wrapped up in inventory in the case items dont sell quickly, quick flipping is a good concept but if are paying too much for single items, you might be paying what the sells for on the low end, or in some cases you might even be paying more, which kind of defeats the whole purpose, I try to never sell anything less than $20 at the very lowest, I sold cheaper items when I first started until I realized the amount of monkey hustling that it takes just to make $100, when I stopped selling cheaper items, I was to work less hours and make about 3 times more profit, I still work around 70 hours give or take a week, it seems like a lot of people think that reselling is easy money, if you any reseller, they will most likely tell you its not as easy or effortless as people think, it takes a lot of discipline and hours to make enough for living expenses unless you another source of monthly income as well, sometimes I miss having a real job, because no matter how much it sucks, you know you will get paid for the hours you work, there's no guarantees in reselling, you have an occasional day when you don't make any money even if you work 12 or more hours, that's just part of the deal, the best way to avoid those kind of days is to constantly be listing new items, if you dont list items constantly you won't do very well, shopping is far more fun in my opinion but if you source more than you list you will accumulate more inventory than you'd probably to like to have, that's another mistake Iearned the hard way, I wouldnt have ever thought clothes would take up as much space as they do, sometimes I think it wouldve been smarter to stamps or coins, it would take an awful lot of stamps or coins to completely fill 2 bedrooms and a garage
@@sonnyboy2040 very informative thanks!!
@@sonnyboy2040 You got it! That's truth , you can't pay 7.99 at the goodwill , you have to go to the bins or the Dusty thrift stores in the city on days when all cloths is a dollar or some by me do everything half off on the last Saturday of the month . Go.on days when it's dirt cheap and stock the f@k up.
Love these concepts. I've been going through the ups and downs of sell through rate. I've dabbled in what you refer to as quick flipping for higher end items like 200 and up. The lower end items I have a harder time quick flipping.
I have been doing it this summer using high sell through combined with 5% promoted listings and I have not noticed ANY slowdown this summer at all. I have really implemented sell through into clothing and it has helped so much. I will take 7 to 10 dollars per sale for 100 sales over 15-20 per sale for 25 sales in the same amount of time with slower movers any day.
Just curious - how many active listings do you have and how many items do you believe you can store? Thanks!
FOLLOWING !
Funny, it’s like you were talking directly to me! Thank you!!
I don’t have a problem selling my items for lower average sales price because my thrifts are so plentiful. I know I’ll find big dollar items every few weeks and it’s all about the averages. I pick up women’s Rothys brand shoes for $6.49 and sell them for considerably more so I too don’t mind selling a Robert Graham shirt for $25. I constantly have to remind myself to not get emotionally attached to the brand name or the idea of “what it should be worth”. Please keep up with your content. I would have never picked up a PFG 4X shirt and I did thanks to your videos. And it sold. In one hour.
Awesome tutorial filled with great stories.....especially the gray cube lol! Thanks so much for all your wisdom!
Very helpful! Thanks Matt! Appreciate the little lint speck on the beanie...😄
Love your content! You are realistic and honest.. no bs. I appreciate your business model and I'm learning so much!
This is so true. It is hard to emotionally separate yourself from what you think an item should sell for, but I’ve been working on it lol. I had someone create a bundle of 2 items and total was $95. She sent me an offer for $50 and my first instinct was to counter but then I talked myself out of it and accepted. my cost of goods was only $7.50 so I still made a great return :)
I love a good analogy! It really does help me fully learn and understand a concept. Now watch me butcher it while I try to impress my husband with a trout analogy 😂
Thank you for your knowledge and your time! I always try to contribute some kind of tip in my comments…..Some quick flips for me are: American Eagle jeans, lulus formal dresses, shackets, chore coats and anything Y2K right now!
You are a great teacher! Thanks for your time. I will certainly use your flip method
With the huge amount of competition, I think your mentality for selling in volume is definitely the way to go. Great video. Definitely time to reset my mentality!!
It works. Nuff said. Loved the trout analogy.
Hahaha i love the fish story. I had a similar experience in the tetons this past weekend. Also on a serious note, its a very true concept when it comes to sales and buyers
Yes. You are so right. Thank you.
Listening to this video as I list a bunch of aluminum foil scrunched into balls 😂
Lots of good points!
@@helpfulcommenter did you watch the video? Lol. There's a part where he talks about scrunched up aluminum foil.
@@helpfulcommenter i end up watching most videos on 2x speed tbh lol
@@helpfulcommenter yeah, i sell clothes on ebay and depop mostly. What about you?
Great advice. I feel the struggle. But you are right!! Thank you for making feel better
I find your videos very informative and have learned so much. I believe in the work smarter not harder approach and can’t justify buying a Robert graham shirt for $7 to flip for only $25. I am thankful that reselling offers more than 1 way to be successful. Congratulations on your success!
I love your approach and I couldn't agree more. I don't want to run a 100000 item store and keep expanding my storage.
I like the way you carry yourself sir, I’m a big fan of your channel. Keep up the good work
Love the fishing story. I get it, thank you ! Leslye
I like the fishing analogy, someone once told me its better to make quick nickles then slow dollars.
Just... WOW. I REALLY need to hear this today. I wish that you had a coaching/mentoring program. This is the most valuable reselling wisdom available.
P.S. If you ever decide to venture into mentoring, sign me up!
i agree with you. i learn so much here and I like the real talk.
I’ve always said “a short nickel beats a long dime”
Love the perspective! Helpful to have someone articulate a practice that a reseller crosses naturally now and then.
Lol. Having written and published a fishing book - and being brand-new to reselling - I loved this analogy!
I have about 50/50. Quick flips and higher listing prices. Buuuuut that's because I keep finding luxury items near me. Or pricier items that aren't luxury. Both have worked out for me. Once I can't find luxury items anymore, I'm definitely all for the quick flips. Especially if you get a lot of them on the same sourcing trip to save time. It makes it worth it that way.
Not a resaler, but have been watching a few, even subscribed. As I move into retirement and care for aging parents, dispersing personal inventory seems relevant. My perspective is that most resellers want top dollar and are spear hunting not trout fishing. I enjoyed listening to your perspective. May I recommend the book "Essentialism", currently reading with recommendations by a Ebay reseller on RUclips. 💞 😇💞
I just found you and I love everything about this video.
I think sometimes we get wrapped up in the hype of being able to say we paid a dollar for something and sold it for $50 or $100 or whatever, just to be able to say we did that huge, great thing. Personally, I would rather sell 10 things and make $10 on each one than wait however long for that same item to sell for $100. Like you said, most people are looking for a deal. If it truly is a collector's item, then mark it at collector prices. Otherwise, give the people what they want = a deal :)
Love your videos, my sister A poshmark seller sent me to your channel. Bought a pair of waders for ten. Offers for 25 turned down more than one. Sales for 60 on Ebay. Still sitting after a month.
Awesome. Your so right we get attach to our items we drift. N we don’t want to let for cheap
I have been bnige watching your videos. This one is so far the best! Great advice and metaphor.
High volume, lower margin. Makes total sense.
I think you're a 100% right to think about the motivations of the buyers. Looking back at my own buying history, you're right about that, too -- I'm either looking for a bargain on a known quantity, or I'm hoping to find something hard to find at a good price. So, yeah, this approach sounds dead right if you're looking to make a reliable return with fast turn around. Thanks for the straight talk, again.
I look at it differently - I'm more interested in the longer quarter vs the quick nickel because what I'm trying to do is maximize my hourly rate and I'm willing to wait to get the higher hourly rate. If it takes me 12 minutes on average to process an item (shopping, listing, shipping) I'm willing to wait a few months to make $15 on the RG shirt vs $7 because that changes my hourly rate from $35 to $75.
My business model can handle that because I have the space for storage and enough cash flow that keeping the capital tied up isn't a problem for me...and sometimes I end up having to drop the price on the RG shirt after keeping it for a long time to only make $7 anyway.
There is no right or wrong way - it all depends on your particular situation. Thanks for sharing your thoughts.
What's the rush? Why kill the market value? I dunno 🥺? I can afford to wait since buying low and selling reasonably priced and people should aim for better returns on their money.
I only came by for the analogy clickbait, but stopped and learned tons. Good luck - loved the perspective you gave me.
I am having more success moving toward a quick flip model. But I had an Ariat western boot listed for $66. I got an offer for $40 which is probably what I would have charged a family member, but I counteroffered at $50. Shopper countered with her original $40 offer, so I shared it repeatedly to the TOP of my Poshmark closet and sold it for $60 to a new buyer same-day. So I find myself having a divide between what I will part with cheap and hold out for. But since I started my closet with donated items that divide was expected.
I have definitely been holding on way to hard for the extra few bucks. Thanks for the eye opener!!
I’ve been sourcing men’s clothing ever since I found you and got your manifesto. I flipped about 20 pairs of men’s shorts and/or swim trunks in less than a month, my fastest and best sellers. Got my store moving after months of doldrums. I owe you a few coffees.
Sweet, you owe me nothing. Love getting comments like this. Congrats on the sales.
@@ThriftALife Too late. A promise is a promise!
I agree with you. I do the same thing. I need the quick flips to keep merchandise moving and to get money back to keep going. It builds momentum and excitement.
Between this and the burnout video, I really appreciate both. Dig the honesty and viewpoint, this is the type of stuff I, personally, find helpful. Thank you
Enjoying this vid. Just getting started and did just what you are describing. Priced a bit below average and all sold fast. Great to get start up cash. I prefer this quick flip way. I am rather impatient.
I do quick flipping the exact same way. I have major doc and medication bills every month and don't have time to wait for something to sell at a high price. I start panicking if I don't make my quota. My quota is different from many, mine's to survive, literally. I enjoy your videos and the way you think.
Good thoughts going out to you 😊
Hmmmm I may need to start rethinking things. I just found 2 brand new in package designer sheets in my basement. I put them up on offer up for $15 then went to list it on ebay only to find out they were selling for over $60.! I listed it for $50 and before I could finish listing the second one someone bought it. I listed the second one for $56 because it was a larger size and within a half hour someone offered me $50. I Didn't take it .... I probably should have. We'll see what happens
Hope you feel better soon!
Amazing trout analogy ❤️
Whats a quick flip video without a fishing metaphor! I love the quick flip....in and gone thanks Matt!
I almost didn't watch this video bc I dont do Whatnot but I luv the trout story so much. Thanks.
Brilliant approach to reselling. I have hundreds of "C.O.G.s = 50 cent" items to clearly make a $8 to $10 profit. Good enough for me to flip quick.
Thanks! I’ve been moving in the quick flip direction and my sales and profit have increased greatly. Your rationale makes perfect sense to me where I’m at right now. BTW now I’m craving fresh trout! Gosh darn, I’m hungry.
Thanks for this video, I am new to flipping and when I priced my items at their market value they were taking forever to sell, I was starting to become disheartened and even considered quitting this whole flipping thing, so I decided to which to quick flipping strategy and selling items under market value and now things sell fast, yes im leaving money on the table and it hurts but im actually enjoying reselling now, because I have sales taking place and profits coming in, even if they are smaller profits.
You’re awesome. I like you!!! I’ve sold 400! In 6 months so I get what you mean about quick flipping. I think what I’ve learned so far is take that shot but don’t wallow in my expectations. Keep it moving!!!
Stacey in Vegas
I love that you are talking about the emotional aspect of selling. I thought I was just a tripper… hehe Thanks brother!
Brilliant advice. Thank you.
What you described with the trout analogy was spot-on. When I first started purchasing on eBay, I had a certain price point, and it was generally clothing that interested me. If the one (or more) transactions went well, I saved that seller and continued to peruse their inventory--sometimes they had items that I _initially_ had zero intention of buying, but later ended up purchasing because of my experience with that first purchase. Some sellers went above and beyond, wrapping/folding the item (and sometimes including a note) so nicely that I appreciated that effort and vowed to give them business if something of theirs caught my eye. I know how time-consuming this is/was. I would go on to purchase big-ticket items from those sellers.
I live in a small town in Alabama and came home yesterday with a bag full of stuff that has over 100% sell through rate. IronHeart, Buck Mason, and more. This isn’t California, but this proves the good stuff is everywhere. Thanks for the great content.
Teaching my college student son what I know about eBay because typical student jobs don't offer as much potential profit and flexibility as reselling. Just yesterday I used the exact same investment analogy as you have in this vid to describe to him a different way of looking at reselling. Another way to look at it, the $20 I spend on sourced items, after reselling, pays for my $100 electric bill at a discount. It ceases to be important how much money you are making on an hourly basis and becomes a matter of return on investment with this mindset. And I agree that this is when reselling becomes fun and profitable!
Very helpful! Thank you for today’s reseller mind shift. I will remember your story the next time I go “fishing”.
Wow, I can relate......thank you!!!
This is an amazing video. It really changed my psychology re sales
thank you for this perspective! 🤔🤔🤔
Excellent advice thanks.
THANK YOU THANK YOU THANK YOU! I just had the biggest ah-ha moment listening to this video! I'm always so afraid I'll price something too low and "miss out" on that awesome "it sold for HOW much?!" moment that I've lost sight on WHY I'm doing this in the first place ... TO MAKE MONEY!! Absolutely makes so much more sense to price it so it will flip quickly vs sitting - because all this inventory collecting dust waiting for that "wow" flip is not making me a single penny!!! You have just opened my eyes and completely changed my thinking. SOOO glad I came across your video .. just subscribed and look forward to more ah-ha moments! (and fishing metaphors LOL!)
I really like this concept and for sure will follow it on my business and also... i realized while youre talking why my sales are so slow because i priced to high..🙈 Thank you for sharing👍🙏
That was very interesting. Made a lot of sense to a non fisher/ just a desert flower like me ! THANKS!!
THANK YOU for this!!! - I have been a FB seller (private group) for several years now and I am considered a low dollar seller. I am used to selling 400-600 items every two weeks, all low dollar and that is why they sell, because I keep my prices very low plus still make a profit. - I've decided after 2 years that I am going back to ebay for a while, because whereas the low dollar selling has paid the bills well enough, I also work my butt off. So I want to go back to ebay for some higher priced items to lessen the load a little. - I came in to a huge haul of very nice higher name brand big mens clothes so I will be going back to ebay with those. And I have struggled as I get ready to list with two things. ------- Do I price them in the same higher range as other sellers or do I lower my price to flip them quicker. AND.........SPACE. My home is small and there are two of us here and I'm finding that my death piles are absolutely taking over the house. I don't want to sit on stuff for months on end. I need/want it to move relatively quick so I can not overwhelm the household and still be able to continue to source before winter. - I say all of this to say thank you, I needed to hear these words today.
where can I buy a bulk of poly Mailers for cheap amount?
$ is $...no matter if it is even just doubling your investment. Love this channel. Truth here.
I think whatever method keeps your energy and fun levels up is a good one. (100% Agree about emotional attachment btw - if we can liberate ourselves from linking our self-esteem to pricing, or brands we like, I think things get easier).
Well said. Thank you for making this video
My favorite thing - when an item goes immediately from my "photographed/needs to be stored" pile directly into a poly mailer to ship out. Love getting my money and return back faster even if it's slightly less than it could have brought waiting a few months. I do this mostly by pricing mid-high range based on comps and running a sale.
HIi, Matt Quoting Heraclitus at 7:23/21.05. about stepping in the same river twice change it to a fishing metaphor by stepping on the same fish twice, of course the second time would be easier since the fish is mashed and not the same. Hence it all works and its the same quote. LOL
I love your approach to reselling. Thanks for your videos.
Holy crap! Little white speck... You got a subscriber! Plus Hairy Tornado weighed in :)
Some great advice thanks
Dodad 😝😝😝love it. Your explanations are FABULOUS!!! word of the day. Dodad 👍👏👏👏
Foil rolled into a ball is just about every cat's idea of a good time!
Thales quote so true 👍
I always try to use the 100% rule. If I make 100% after expenses...I have been successful...no matter what the item is worth...it gets me nothing sitting in a box...
Thank you for your candor. Great thoughts.
Your model is 100% true. I've been reducing my prices with no offer, but with free shipping. I want the quick flip and not to wait months for my items to sell for the full asking price. I want the income coming in fast.
Learning to much from your videos!! Im still learning , looking brands that you recommend, I have my list with all brands that you mention, hard to find in Georgia . You should do thrift and flip conferences!!
So true about thrift stores in San Diego (not all, but most of them), you can literally Cherry Pick every single thrift haul, they mark up but the quality is 🔝🔝🔝🙌🏻
Great video, just summed up my approach to selling, thanks for all the info