Anyone ever bought any items wholesale and made a profit on it? I think thats how alot of people make money on ebay. Any ideas, or thoughts on this subject? I have been selling on ebay for 5 years, books, others peoples stuff, etc....sometimes i make a profit and sometimes I dont. Any ideas on whats hot these days? I have some halloween items on ebay and so far no luck in selling anything. Lately I have been researching on buying fantasy items such as fairies, mythic, figurines & such at wholesale prices, Also been researching gothic victorian jewelry..dont know which way to go here. I have always loved selling items on ebay and shipping them off, its fun and I enjoy doing so from home. I would really like to sell items on ebay that actually sell. Any ideas???? Thanks $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 09-09-04, 11:25 AM MommyTimesTwo I do not sell wholesale on eBay but I know a lot of people that do, and I do make a profit typically from my own sales.
The only way to make a profit in sales, on or off line, is to offer something people want, and can't get other places OR at a cheaper price than competitors.
For example, one guy I bought from before had purchased a run down warehouse and found crates of old baseball cards in it. Since he paid nothing for the baseball cards, he was able to offer them at a much lower price than anyone else, and thus sold a lot.
Another way this can be achieved is by making the items. For example, many people have success making beeswax candles that are decorated for the seasons. While this idea is over done on eBay, the priciples hold true--the materials are very inexpensive, but the finished product can be sold for about 100x what you pay to make it. (For example, a sheet of beeswax may cost $.15, a few inches of ribbon about $.05, a few pinecones are free...etc...but the candle will sell for about $3. That's a markup of $2.80, or 93%.) Or another example, my husband's aunt sells crocheted blankets on eBay. She pays about $10 for the yarn but the finished blankets sell for $150. That's a profit of $140 on each blanket, or 93% again. Another--I make quilts. It costs me about $25 for the materials to make a queen sized quilt. I could sell that on eBay for between $200-300. That's an average profit of 90%.
These are just a few ideas. The most successful eBay sellers I have seen make items where the materials are very inexpensive, but the finished goods are worth a lot more.
09-09-04, 01:40 PM clarebear
quote:The only way to make a profit in sales, on or off line, is to offer something people want, and can't get other places OR at a cheaper price than competitors.
How true. That is the only way to make money! I just started selling on ebay this month. A few things I relisted more than once. The few things I have sold were considerably lower than I paid for them. A friend of mine bought 25 vases at a store that was going out of business for $5.00 a piece. She was hoping to sell them for $10.00+ a piece but none sold. She is now out the listing price and is still stuck with 25 vases. You have to be really careful buying bulk. You have to know your product.
I think clothes sell well. You could go to the local thrift store and buy there. (they have some nice pieces) Jewelry is always a good seller.
So where do you get good stuff? I think its a matter of luck. You have to be at the right place- at the right time- with just the right items. Garage sales are usually just a bunch of junk. The people who run estate sales know the value of the items. It seems as if everyone is ebaying. They are even opening ebay shops where they will sell your items for you for a cut in the profit.
The best items to sell are items you know about or items laying around that you just don't want anymore. Sell something you know the value of. If you have no clue how much hot wheel cars are worth then don't buy them even for 50 cents a piece. (Trust me, you will end up with 100 worthless cars and a good idea gone bad.)
You also have to consider how much your time is worth. Spending time shopping, going to the post office and being on ebay consumes a LOT of time.
P.S. If you need a really cool vase my friend has a few to spare. If you need any hotwheel cars let me know. I might have a few laying around. Roll Eyes
09-09-04, 03:01 PM MommyTimesTwo
quote:You have to be really careful buying bulk. You have to know your product.
Definitely! A Christmas store in town was going out of business so I bought some of those Department 56 figurines on clearance. Little did I realize they were on clearance for a reason. I did end up selling them all, but the most I made on any of them was $.25, after my listing fees.
Another tip: be very careful with your postage. Make sure you weigh your item AND the shipping packaging (ie box, paper, etc). More than once I've lost whatever profit I might have made because the box weighed more than I thought. And be certain if you put that you'll send internationally that you know what you're doing. I just recently sold a Barbie doll NIB to a lady in Canada. Well first of all, I had to file a non-paying bidder dispute just to get her to pay, because the shipping alone was $15 (for a 2 lb box) and she didn't want to pay that much (yes, she should have known better, but don't depend on people looking at the shipping costs BEFORE bidding. Being in Alaska, I get people all the time who complain after winning an auction that 1) it costs too much to ship or 2) it's taking too long to get there.) Also you can't always insure boxes going to Canada.
Final tip--make sure that your shipping etc... standards are made CLEAR. For me being up here, it can take up to a month for a Priority mail box to get to the lower 48. I have had many people email me after like four days demanding to know where their box is and threatening to complain to eBay. Okay, I have ZERO control over the post office. So after the first few bad experiences, I made up a "Me" page (free from eBay) and my auctions direct people to it. On that page it clearly states that shipping is usually 6-10 days, but can be up to a month, and that I am not responsible for the length of time shipping takes. Also make it clear that you aren't responsible for the item if it breaks in transit. If they don't buy insurance, it's their problem.
09-09-04, 03:47 PM clarebear I just bought a postal scale on ebay for $30.00 (including s/h). That is going to be a great investment. Smile
Mx2
I know what you mean about the shipping. I just lost about $1.00 shipping something I underestimated. I know its only $1.00 but it can add up quick if someone is not careful. Great tip about shipping. Thanks! Smile
09-09-04, 04:13 PM MommyTimesTwo I've been considering getting one. It will all depend if I keep selling on eBay. So far I've sold frames I've made and then just stuff we had and didn't want anymore. But now I'm learning how to quilt and might sell them there (however, there are PAGES of unsold quilts, so it's not likely). If I do, I'll need a postal scale, because quilts are surprizingly heavy!
09-10-04, 02:29 AM Jenny Roberts Ebay is great if you are selling what people want! I buy and sell postcards on ebay and have had success and failure. However postcards are light in weight so postage is no problem. Trouble is, if the item doesn't sell first time, you have listing fees to add, these all mount up. Then you have selling fees at the end depending on the total auction price. I recently bought a job lot of 1500 postcards on ebay for £7.50 including postage. I sorted them out into categories and relisted them. I made a profit of over £150 just by selling them separately. Just remember though, if you are making something, like quilts or blanket etc, that you have got to take into consideration the time spent producing them. Years ago, when my kids were babies, I had a knitting machine. I used to design and make a lot of kids jumpers and cardigans. The wool cost next to nothing but used to take a couple of hours of my time to actually make the product and finish it off. I would make about 50 and then sell them at the local playgroup/nursery. Some sold well but other people expected to pay the same price as they would at the local market and I had trouble getting the price I wanted for them. In the end I didn't make much money at all. If you have the right product, there is money to be made on ebay. You need to be very organised and send off items promptly. This can be time consuming if you sell a lot of items. A postal scale is a must to avoid charging the wrong prices. Do not guess! Happy selling Big Grin
09-14-04, 07:46 AM BookHunter Good comments & tips - Thanks! I know what you mean abut being in the right place at the right time. I have found vintage hankies, I paid $0.5 cents each. I made over $100.00. Vintage jewelry I did well on as well. Bought a necklace & earring set for $2.00 sold it for $68.00 to a lady in Switzerland. I sold every piece I had and made a huge profit. Last summer I bought some art books for $0.25 cents each. Sold one for $78.00. I know vintage jewelry & books so I knew what to look for.I bought all those items at various garage sales so not all you find is junk. I have also sold 2 tractors for my neighbor on ebay, Various antiques for friends. I got tired of selling other peoples stuff. Too much a a headache. Ive had a scale since last X-mas and its well worth the money spent. Thanks for the comments!
09-14-04, 11:28 AM MommyTimesTwo I'm glad we could help! Sounds like you should stick to jewelry! I wouldn't know a valuable antique from pasted CZs myself, so you definitely have an edge there. Wink You're right about not all being junk in garage sales. My mom had a garage sale a few years ago and this guy pulled her aside and said "You know that rhinestone jewelry you have over there for $2? I just wanted to let you know they are very old and worth a few hundred." She ended up keeping them and attaching them to a custom made teddy bear she did in a flapper style--that bear had that jewelry and a hand-sequined flapper shirt from the 1930s, made of rabbit, and sold for $1300. If that good samaritan had not told her, she would have sold the jewelry as costume junk and not gotten as much for the bear, either!
I decided to go ahead and try selling the quilts. I made it different through by offering to make the quilt the way they want it, rather than trying to sell quilts I made where I picked out the colors. No dice so far, maybe I need to wait until a little closer to Christmas. I can make a Queen sized quilt in two days, so I can probably wait as long as the end of November. We'll see what happens! Smile
09-14-04, 06:41 PM clarebear I'm thinking about going to a storage unit auction listed in the newspaper. When a person has abandoned their unit and did not pay their bill, the storage company bids off the items left behind. You are not allowed to go through the boxes but you can sometimes just peek inside the unit. You have until the end of the day to remove all the contents.
For example:
Mini Storage #347 Contents include 3 small boxes, 2 large boxes, one piece of furniture, small hand tools and misc. Bidding starts at $25.00.
P.S. I usually get to the garage sales on the 2nd day. Most of the good stuff is probably gone. Frown
09-14-04, 07:24 PM MommyTimesTwo That sounds rather a gamble to me. I mean, those boxes could hold anything from musty air to decomposing bodies Eek But hey, could also house a previously unknown Picasso Razz I guess as long as you don't bid too much, it can be fun and possible profitable!
09-15-04, 02:55 PM BookHunter MommyTimesTwo, Wow she did make a huge profit. Shes lucky the guy told her about the jewelry. I think I will stick to jewelry. I am trying to find wholesale jewelry..Gothic, Victorian , etc...I found one site so far, $150.00 Minimum to order.. Not sure if I want to spend that much right off the bat. So I am continuing to search. After I bought jewelry at various garage sales last summer I havent had any luck in finding any this year. I wiped out every garage sale in my area Jewelry & Books. No luck at all this summer. I think once my dad started bragging about how much I had sold the stuff for the word got around my small country town so least to say people know who the heck I am even though I dont know them. So now that I can no longer find what I am looking for at garage sales I need to find wholesale company's to buy from. Yeah I wouldnt buy out stuff from a storage unit- you dont know what the heck your getting if you cant even see whats in the box. If I cant see what I am buying then i dont want it.
09-15-04, 03:45 PM MommyTimesTwo My mom used to make jewelry and she'd buy the components wholesale. Most of those companies also sold finished pieces and a good number sold antiques.
The only thing is, to buy from wholesalers you usually need a tax id number. You can call IRS and ask how much it costs--if anything--to file. Then all you have to do is file an additional form with your taxes if you have a profit or a loss on your sales. This can actually save you taxes--last year I wrote freelance, but I made less than I spent on my computer and stuff, so we actually saved a lot on our taxes from my business loss.
09-16-04, 04:36 PM BookHunter yeah I know all about the tax Id thing. Thats no big deal. I found some that dont need that. But I am still pondering the whole thing. should I get a tax id number or shouldnt i. My husband opposes the idea, hes got his own business and has a tax accountant come to the house one a year to do the taxes. If I make more than $600.00 in one year then yes its a good idea to have a tax Id. I am not going to let getting a tax Id scare me. I would just charge sales tax on what I do sell and set that aside. I am going to ask my husbands tax accountant more about it before I actually dive into this whole thing.
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