When I first started reselling on eBay (5 1/2 years now), I was very reluctant to tell people what I did. Now I let them know right away if they ask. My favorite response is "Oh, I've got more stuff in the basement, want to take a look?" Also, business cards help a lot.
@Sterling Picker I started in 99. My experience has been almost completely positive. The Polo Outlet near me limits purchases of any single item to 10 pieces. And I have one estate sale company that will charge more if I'm interested in something unmarked...because they know I know...lol But other than that, it's been all positive for me.
Great advice. I have found repeated BOLO'S ($1.99 to $10.00 to purchase the item $100.00 - $200.00 in sales per some of those items ) but I stay at home caring for my elderly mom. I have to spend most of the profits and not reinvest as much as I should. I'm keeping the faith and pinching every penny. You've taught me so much and are making those BOLO'S possible. Many Blessings
These tutorials are just on time for me. I look forward to watching them all (probably several times each) I plan to list my first item in about 3 weeks. Just getting prepared. Thank you, Thank you Scott!!! .
Fantastic list but YES YES YES!! to #1 - so many people don't want to do what we do and are happy to work with us! I have never heard of or considered a couple of these so you definitely gave me some homework.
There's SO little risk to starting with things you don't have. Most businesses fail, either directly or indirectly, due to debt. You reduce that risk by just starting with things you already have. Thanks so much for watching!
I am just starting out (6wks now) and I started by cleaning out our closets and basement which was starting to look like a hoarders place. LOL After I get a lot sold, I am planning on going to Goodwill (although there aren't many near me) and garage sales. Hubby also said he'd tell his mom to start purging and we'll take her stuff too. Love your videos I have earned so much. You explain things so well.
Education is so important, and the Outlet (BINS) definitely is the best place to do it! We've tried many of these, but online & retail arbitrage are the toughest. We'll be looking into Lone Star Auctioneers! Thanks! Great video, Scot!
Thank you so much, you've cheered me up. I'm just trying to get money together for my cats operation and to get by. Looking at what I'd got to sell and it seemed so hopeless untill I saw your film. You've given me back drive to keep going and make this work. I'm so gratful for all your positive vibes. Xxx
I've just started watching your videos as I'm adding ebay as a side hustle and another stream of income. Your videos are great, keep up the great work and continued good luck in your hunting down deals.
Thanks again Scott!! Another intelligent and helpful video. I’m still in the infant stage of reselling on eBay but as I push through, I refer to my notebook of “Scott” for information and advice. I have made mistakes and each one helps me to improve. I haven’t been selling a ton. I have 80 listings and sold 17 but I’m having fun and learning from this adventure. Keep these videos coming!
Start at home. Well, you're right about that. Found some old fanzines on my bookshelf that have been staring me in the face for the past 13 years. Wouldn't you know it but the things are $60 or more EACH! Then I just checked an old videotape that was on a shelf and found out it was one of the rare "big box" ones that go for over $100! I tested the tape on my VHS player (always nice to do that and show a pic to boot to prospective buyers) and it plays just fine. Hopefully I can find more stuff in the coming days. That was a great tip of yours. I've also found oodles of stuff at thrift stores and places like the Salvation Army and Value Village (Canadian store like the Sally Ann but for profit). Estate sales are a dud these days as the people running them don't anymore. The only one left does cars and other big items as there is more profit in that. I used to attend all the ones in my city and picked up some great finds that I can now part with. Still looking but have run out of time for tonight...
I started to do online arbitrage starting in October. I’ve been able to accumulate over $16k in new products. But I’ve realized I don’t have a solid way to get rid of it. Which is how I found your channel. Thanks again. I enjoy your videos.
I have been seriously considering bidding on my first storage locker. There are a bunch of cheap ones being sold all of the time near me but I haven't jumped in just yet.
Glad you like them! My goal is to try and create some videos that are helpful and encouraging to those who want to build something of their own. So, I truly appreciate the comment.
The reason why I think it's best not to tell everyone what we do is simply because I have heard many retail workers complain whenever I am buying lots of items. They straight out complain to me that I am reselling therefore these retail stores are starting to slowly raise up their prices. Retail stores are selfish they don't want us to make money with their products. I don't understand why retail stores complain when they are still making their profit so why not just let us make our profit. Also say are VHS movie cassettes worth buying and selling?
That's a good point. I do so little retail arbitrage that I didn't consider that in my suggestion. The Polo Outlet near me has limits on purchases for resellers.
@@TheChaChingKing That right there is something I can't understand especially since these retail stores are already making tons of profit. What do they care if customers buy more items.
What's a good way to tell people you're a reseller that doesn't sound like, "I want to make more money than you can off of your unwanted items?" I'm considering taking a big plunge into reselling, but I admit it does feel a bit embarrassing, like I'm a prospector or something.
I have always offered to help them sell it themselves. I encourage them to make the additional profit. VERY few want to do all that work. Here's the real deal. We don't by things, sell them and then reap the profit. We buy them. THEN, we get them ready to sell. We clean, wash, fix...etc. Then, we photograph, build a listing, sell the item and offer customer service throughout the process. Doing ALL of that is what creates the added value. We don't just make money on stuff. We add value to stuff and then work to pull that value out.
Thanks, you are always so informative, but I have a question today I finally listed some items. So if they are they automatically removed or do I need to remove them? Thanks again, you've helped me a lot
If they are auctions and don't sell, they will automatically end without relisting. If they are buy-it-now, they will automatically be relisted when they expire. Thanks!!!!
How do you determine what to pay? When you shop thrift stores that take donations only. Just pay what you want. I seem to overpay for things at these places.
I try to buy in bulk when I can. The price per item is cheaper, and I have some to give away. Otherwise, I try to buy cheap enough that there's no way to not make a profit. But no real formula.
Do you usually source in stores near your area or do you find yourself having to drive far away sometimes? I'd like to be able to do most if not all my sourcing locally given how high gas is nowadays.
There aren't any stores near me...at all. I live very rural. The population in my town is less than 200. It's about a 30 minute drive to the nearest Wal-Mart. So, I have to drive constantly. For me, it's just part of the business expense. I have to be diligent about keeping myself informed about sourcing options just to be competitive.
I wouldn't start with a store. But you can do Buy It Now without a store. I'd get a store once you're keep at least 300 or so items in your store at any one time. I don't run a lot of auctions.
I have a question, I noticed that when I get more than one bid on an item my listing price stays the same, I thought you would get more money when bids go up
That means that the person who has the high bid has probably bid a higher price so they won't lose it. The price won't go up unless another bidder bids against them.
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When I first started reselling on eBay (5 1/2 years now), I was very reluctant to tell people what I did. Now I let them know right away if they ask. My favorite response is "Oh, I've got more stuff in the basement, want to take a look?" Also, business cards help a lot.
You are exactly right! I had business cards made, too. I don't hesitate to give them out.
@Sterling Picker I started in 99. My experience has been almost completely positive. The Polo Outlet near me limits purchases of any single item to 10 pieces. And I have one estate sale company that will charge more if I'm interested in something unmarked...because they know I know...lol But other than that, it's been all positive for me.
Thanks for sharing. Where do you get your cards made? What do you include on your card? Thanks inadvance.
Love how you teach me stuff and I have fun at the same time!!
You are fully awesome
Great advice. I have found repeated BOLO'S ($1.99 to $10.00 to purchase the item $100.00 - $200.00 in sales per some of those items ) but I stay at home caring for my elderly mom. I have to spend most of the profits and not reinvest as much as I should. I'm keeping the faith and pinching every penny.
You've taught me so much and are making those BOLO'S possible.
Many Blessings
I believe you can do this. Your journey will look different than other's, and that's OK. You've got this!
@@TheChaChingKing I am NOT a quitter and have deep faith.
Thank you so much for the words of encouragement.
God bless you.
These tutorials are just on time for me. I look forward to watching them all (probably several times each) I plan to list my first item in about 3 weeks. Just getting prepared. Thank you, Thank you Scott!!!
.
You can do this!
Fantastic list but YES YES YES!! to #1 - so many people don't want to do what we do and are happy to work with us! I have never heard of or considered a couple of these so you definitely gave me some homework.
There's SO little risk to starting with things you don't have. Most businesses fail, either directly or indirectly, due to debt. You reduce that risk by just starting with things you already have.
Thanks so much for watching!
I am just starting out (6wks now) and I started by cleaning out our closets and basement which was starting to look like a hoarders place. LOL After I get a lot sold, I am planning on going to Goodwill (although there aren't many near me) and garage sales. Hubby also said he'd tell his mom to start purging and we'll take her stuff too. Love your videos I have earned so much. You explain things so well.
Thank you so much! I'm glad you're here and hope you continue to find some of it helpful
Education is so important, and the Outlet (BINS) definitely is the best place to do it! We've tried many of these, but online & retail arbitrage are the toughest. We'll be looking into Lone Star Auctioneers! Thanks! Great video, Scot!
Lone Star Auctioneers does a lot of school auctions in the Houston area, too.
Thank you so much, you've cheered me up. I'm just trying to get money together for my cats operation and to get by. Looking at what I'd got to sell and it seemed so hopeless untill I saw your film. You've given me back drive to keep going and make this work. I'm so gratful for all your positive vibes. Xxx
You can do this. Just find one thing and get it listed...then another. Rinse and repeat. You've got this.
Lol.. I'm also doubting that I will have anything worth listing.. which video addresses that worry? Thanks for every video!!
I love your videos. You are honest and down to earth, and the guy I trust. Thanks so much
!
That is so kind. I truly appreciate the encouraging words.
I've just started watching your videos as I'm adding ebay as a side hustle and another stream of income. Your videos are great, keep up the great work and continued good luck in your hunting down deals.
I appreciate that, my fellow namesake!
Thanks again Scott!! Another intelligent and helpful video. I’m still in the infant stage of reselling on eBay but as I push through, I refer to my notebook of “Scott” for information and advice. I have made mistakes and each one helps me to improve. I haven’t been selling a ton. I have 80 listings and sold 17 but I’m having fun and learning from this adventure. Keep these videos coming!
The Notebook of Scott. 😆
Great video. I learned something new in regards to the Bankruptcy finds!!!
They can be a great way of getting multiple quantity listings. Which are as close to passive income as I've ever had on eBay.
Can not agree with you more, tell everyone what we do! Great guidance ! Thx much for sharing your experience and the joy you get as a reseller.⭐️⭐️
Thank you so much!
Start at home. Well, you're right about that. Found some old fanzines on my bookshelf that have been staring me in the face for the past 13 years. Wouldn't you know it but the things are $60 or more EACH! Then I just checked an old videotape that was on a shelf and found out it was one of the rare "big box" ones that go for over $100! I tested the tape on my VHS player (always nice to do that and show a pic to boot to prospective buyers) and it plays just fine. Hopefully I can find more stuff in the coming days. That was a great tip of yours. I've also found oodles of stuff at thrift stores and places like the Salvation Army and Value Village (Canadian store like the Sally Ann but for profit). Estate sales are a dud these days as the people running them don't anymore. The only one left does cars and other big items as there is more profit in that. I used to attend all the ones in my city and picked up some great finds that I can now part with. Still looking but have run out of time for tonight...
Oh my! You're killing it!
I started to do online arbitrage starting in October. I’ve been able to accumulate over $16k in new products. But I’ve realized I don’t have a solid way to get rid of it. Which is how I found your channel. Thanks again. I enjoy your videos.
To be clear it’s $16k in product value but I invested around $200 for everything. So the profit margin should be amazing once I figure this all out.
You can do this!
Very well said thank you very much. A lot of information that will be helpful indeed.
I really appreciate that
We have a 40 mile rural garage sale each June. I have the kids scout for resale bargains, while I sell older listed items at my garage sale.
I LOVE sales like that. I'm ready for them to get started again
I have been seriously considering bidding on my first storage locker. There are a bunch of cheap ones being sold all of the time near me but I haven't jumped in just yet.
Don't go for the cheapest locker. Go for the cleanest. :-)
Great advice!
A very valuable session for all of us. Thank You..
So nice of you
Hi I love watching your videos! I'm new to selling online ..
Glad you like them! My goal is to try and create some videos that are helpful and encouraging to those who want to build something of their own. So, I truly appreciate the comment.
The reason why I think it's best not to tell everyone what we do is simply because I have heard many retail workers complain whenever I am buying lots of items. They straight out complain to me that I am reselling therefore these retail stores are starting to slowly raise up their prices. Retail stores are selfish they don't want us to make money with their products. I don't understand why retail stores complain when they are still making their profit so why not just let us make our profit.
Also say are VHS movie cassettes worth buying and selling?
That's a good point. I do so little retail arbitrage that I didn't consider that in my suggestion. The Polo Outlet near me has limits on purchases for resellers.
@@TheChaChingKing That right there is something I can't understand especially since these retail stores are already making tons of profit. What do they care if customers buy more items.
What's a good way to tell people you're a reseller that doesn't sound like, "I want to make more money than you can off of your unwanted items?" I'm considering taking a big plunge into reselling, but I admit it does feel a bit embarrassing, like I'm a prospector or something.
I have always offered to help them sell it themselves. I encourage them to make the additional profit. VERY few want to do all that work. Here's the real deal. We don't by things, sell them and then reap the profit. We buy them. THEN, we get them ready to sell. We clean, wash, fix...etc. Then, we photograph, build a listing, sell the item and offer customer service throughout the process. Doing ALL of that is what creates the added value. We don't just make money on stuff. We add value to stuff and then work to pull that value out.
Thanks for the video and information 😀
😀
Wow I didn’t know those sweaters were worth much. I have one of those in my death pile that I never looked up.
They can be worth an awful lot! I had one that was really rough and only had a high school mascot on it. Even that one brought almost $100.
Thanks, you are always so informative, but I have a question today I finally listed some items. So if they are they automatically removed or do I need to remove them? Thanks again, you've helped me a lot
If they are auctions and don't sell, they will automatically end without relisting. If they are buy-it-now, they will automatically be relisted when they expire.
Thanks!!!!
AWESOME VIDEO
Thank you again!
Thank you for these ideas!
You're welcome! I hope some of them are useful
@@TheChaChingKing So far, they all have been. ☺️
Especially helpful video. A+!
🍎 🍏
Glad you think so!
How do you determine what to pay? When you shop thrift stores that take donations only. Just pay what you want. I seem to overpay for things at these places.
I try to buy in bulk when I can. The price per item is cheaper, and I have some to give away. Otherwise, I try to buy cheap enough that there's no way to not make a profit. But no real formula.
Do you usually source in stores near your area or do you find yourself having to drive far away sometimes? I'd like to be able to do most if not all my sourcing locally given how high gas is nowadays.
There aren't any stores near me...at all. I live very rural. The population in my town is less than 200. It's about a 30 minute drive to the nearest Wal-Mart. So, I have to drive constantly. For me, it's just part of the business expense. I have to be diligent about keeping myself informed about sourcing options just to be competitive.
Great info :)
Thanks Courtney!!!
i have not started ebay yet but i was wondering if i should have a store or just do auctions in the beginning Thanks.
I wouldn't start with a store. But you can do Buy It Now without a store. I'd get a store once you're keep at least 300 or so items in your store at any one time. I don't run a lot of auctions.
chachingking....you the man!! thanks for your help.
I have a question, I noticed that when I get more than one bid on an item my listing price stays the same, I thought you would get more money when bids go up
That means that the person who has the high bid has probably bid a higher price so they won't lose it. The price won't go up unless another bidder bids against them.