Bedford Ramblings
Steve Mills

Money is tight so what can you do to earn some extra income?

Posted Wednesday, November 7, 2012, at 10:01 PM
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  • The original post was getting a bit long, so I decided to cut it off for now. If anyone is interested, we can continue the discussion and hopefully some of our experienced area sellers will chime in.

    I expect Philip Cohen to check in from Australia, so G'day mate. Hope you have some new stuff for us? (Philip is not a big fan of eBay or its' president) He checks back on his comments so don't hesitate to ask him questions. Of course, I reserve the right for rebuttal Philip. :-)

    -- Posted by stevemills on Wed, Nov 7, 2012, at 10:01 PM
  • My wife and I sell on Ebay, Amazon, etc. We have found we have to have a significant mark-up (50% or more on most items)to pay the Ebay, Paypal, Amazon fees and cover our shipping, labelling and packaging costs. Add to that the taxes, especially the state sales tax, and we hardly make enough to justify our time. We have had several people ask us to sell for them as well. We are just not willing to take on the extra work and headaches for so little reward. Too many hands taking too much of the pie drives the cost of the items beyond a reasonable expectation for our customers.

    -- Posted by Liveforlight on Thu, Nov 8, 2012, at 6:49 PM
  • That is a big reason why I got into teaching eBay rather than selling for others, but many folks seem to think my time is paid for by eBay (which it isn't) and should be free, so there are challenges thee as well. If it is a collection or a large enough ticket item, I will be tempted, but.... I still try to stay away.

    I used to wonder why Trading Assistants (TA's) would state that the item value needs to be at least $50, or $100 etc. I quickly learned why.

    I do not sell on Amazon but our eBay and PayPal fees usually average about 20%, even with the charge on shipping. Most of our items are now Buy It Now from our store.

    The lowest we sell for is 100% mark-up or 50% of the selling price but that is only on new things that we have to buy at a higher price. Since all of the other things are bought from auction or garage sales, the mark-up is much, much more.

    As many know, a very significant aspect of buying to resell is to get the best price. Since buying new product to resell has such a small profit margin, one needs to go for volume.

    We prefer to have less volume but higher profit, so we usually stay away from new, except for my wife's photo albums.

    -- Posted by stevemills on Fri, Nov 9, 2012, at 8:55 AM
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