I am fortunate that I live in such a big city. I get many opportunities here that wouldn't have happened in a smaller cities. Thanks for the shout out :)
Here's how I calculate the goodness or badness of a deal: it depends on two things for me: storage requirements and carrying cost. We are assuming you already did the math to make sure it's a good deal as far as the markup is concerned, and you've calculated how many you have to sell before you could throw the rest of them in the trash can and still walk away with a profit. After that, I want to know how much storage space it's going to take up, likely for a year or more to sell. Space requirements is a yuuuuge consideration for me because I don't keep inventory on-site here, and so I'm renting TWO large storage units. So the smaller the size and the higher the markup the better in my store. That second thing I'm calculating is the carrying cost on the deal. In other words, how much is is costing me (cost of goods + storage expenses + any special shipping supplies I might need to buy for that one type item) to carry that inventory on-hand for a year or two, vs. taking the cost of the merchandise to the bank and throwing it in a CD or something and just plain old get a better return on investing the money. The longer it takes to sell off the deal, the more likely that putting the cost in the bank instead is a better deal. In 2023 I've had to get very rough on myself on this calculation because I'm carrying old inventory too long to show a suitable profit when finally sold. It is time to - as they say - clean house with the Death Pile in North Carolina!
Ya know…. My wife and I are fortunate enough to pick across the country (we run our resell business from our 18 wheeler…. Lookout for us on RUclips, Chris because we’ve been recording to make some content) but we’ve noticed that all over this country, prices and picks are way different. We still go to goodwills as they’re easy for us to access and we’ve noticed a lot of resellers don’t go to them anymore due to the price hikes. You can still find some that have maintained their low prices on hard goods though, Hayes, KS, Laramie, WY, and Ellensburg, WA all have great products at great prices. We’ve also made some terrible buys at some of the more expensive ones. It never ceases to amaze us what some people will just give away when we find it out picking and know it’s worth a good amount of money. ❤
Man I totally understand the issues with finding good items living out in the rural areas like I do. I have to really hustle at sourcing to supply the store and still rely on a higher volume of slower movers and lower value merchandise. But just like you say, we have to learn how to sell what we can find.
Sell what you find! Great video Chris! I'm glad to see I'm not the only one with that big stack of Priority box collecting dust. Ground Advantage killed Priority!! Lol
I'm pretty sure I've never had a bad buy, too funny, we all do it. I have been trying a new strategy and my sales are up over the last week. It's working so far.
Media can be good. I sold a sealed Legend special edition blue-ray two disc set. Bought it for a few bucks on a WhatNot stream and sold it or $60.00 👍👍
I think we all have had bad buys, its just one of those things that's going to happen in reselling. Most of my bad buys have been on smaller low cost items. I have had way more success gambling on bulk buys, sometimes you get that gut feeling and know its going to pay off.
I’ve made videos talking about bad buys I’ve made. I have 4 items that I can’t even resell now because the prices have tanked so much because when I first bought them they were going for over $100 and now a case is going for $25 thanks to price tankers.
i think the slow sellers are more of a bail out item like some times when sells are slow u get a random hit on a item u have had for a while and it like o ok and its a little bit of a bail out for the day
I am fortunate that I live in such a big city. I get many opportunities here that wouldn't have happened in a smaller cities. Thanks for the shout out :)
Here's how I calculate the goodness or badness of a deal: it depends on two things for me: storage requirements and carrying cost. We are assuming you already did the math to make sure it's a good deal as far as the markup is concerned, and you've calculated how many you have to sell before you could throw the rest of them in the trash can and still walk away with a profit. After that, I want to know how much storage space it's going to take up, likely for a year or more to sell. Space requirements is a yuuuuge consideration for me because I don't keep inventory on-site here, and so I'm renting TWO large storage units. So the smaller the size and the higher the markup the better in my store. That second thing I'm calculating is the carrying cost on the deal. In other words, how much is is costing me (cost of goods + storage expenses + any special shipping supplies I might need to buy for that one type item) to carry that inventory on-hand for a year or two, vs. taking the cost of the merchandise to the bank and throwing it in a CD or something and just plain old get a better return on investing the money. The longer it takes to sell off the deal, the more likely that putting the cost in the bank instead is a better deal. In 2023 I've had to get very rough on myself on this calculation because I'm carrying old inventory too long to show a suitable profit when finally sold. It is time to - as they say - clean house with the Death Pile in North Carolina!
You taught me to look for anime' dvds! Speaking of good buys, bought one the other day for 50 cents. Worth 35... that was your info! Thanks, brother!
Ya know…. My wife and I are fortunate enough to pick across the country (we run our resell business from our 18 wheeler…. Lookout for us on RUclips, Chris because we’ve been recording to make some content) but we’ve noticed that all over this country, prices and picks are way different. We still go to goodwills as they’re easy for us to access and we’ve noticed a lot of resellers don’t go to them anymore due to the price hikes. You can still find some that have maintained their low prices on hard goods though, Hayes, KS, Laramie, WY, and Ellensburg, WA all have great products at great prices. We’ve also made some terrible buys at some of the more expensive ones. It never ceases to amaze us what some people will just give away when we find it out picking and know it’s worth a good amount of money. ❤
I just bought my plane ticket to go to visit my Mom & sisters in Kansas City for Christmas. We call it the Sister’s Christmas.
Man I totally understand the issues with finding good items living out in the rural areas like I do. I have to really hustle at sourcing to supply the store and still rely on a higher volume of slower movers and lower value merchandise. But just like you say, we have to learn how to sell what we can find.
Sell what you find! Great video Chris! I'm glad to see I'm not the only one with that big stack of Priority box collecting dust. Ground Advantage killed Priority!! Lol
I'm pretty sure I've never had a bad buy, too funny, we all do it. I have been trying a new strategy and my sales are up over the last week. It's working so far.
Enjoyed it. Great advice! We've had bad ones also. . Thank you for sharing.
I keep seeing that king Kong back there, we just sold that same one!
Media can be good. I sold a sealed Legend special edition blue-ray two disc set. Bought it for a few bucks on a WhatNot stream and sold it or $60.00 👍👍
You haven't given me time to do a video about bad buys yet! 😂 You won't be alone! 😂
I think we all have had bad buys, its just one of those things that's going to happen in reselling. Most of my bad buys have been on smaller low cost items. I have had way more success gambling on bulk buys, sometimes you get that gut feeling and know its going to pay off.
I have a few Rifleman magazine lots for sale.Have had them now going on 2 years. I know they will sell. It is just a matter of when.
I've been sick the last couple of days and just on the brink of recovering... The only thing is I'm afraid that my voice is going to skip...
I’ve made videos talking about bad buys I’ve made. I have 4 items that I can’t even resell now because the prices have tanked so much because when I first bought them they were going for over $100 and now a case is going for $25 thanks to price tankers.
Don't you just love those people who race to the bottom with prices?
@@dianepropson2508 they are ruining reselling because they are driving the price down and making buyers expect prices like that.
i think the slow sellers are more of a bail out item like some times when sells are slow u get a random hit on a item u have had for a while and it like o ok and its a little bit of a bail out for the day
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