So I decided to do an experiment. It was Sunday, and it was 5:30 p.m. I'd been listing all afternoon and needed to get out. The weather was great, and I was itchin' to shop.
The only place open was a place I try to avoid. It's overpriced and under clean. Back in the day, it was a supermarket. It's like a big dirty supermarket filled with junk.
Now don't get me wrong. I'm OK with dirty. But if it's gonna be dirty, it better be cheap -- and this place definitely ain't cheap.
So here's what I had in mind. The shop was about to close. I thought it would be fun to see how much money I could make in the last 10 minutes of the day. I decided to focus on footwear. And I have to say, things went pretty well.
10 minutes after starting this little game, I was at the front counter ready to check out. I had gone through the shoes and picked out the money makers. I ended up with three pairs, and two of them were 50% off!
The first ones I purchased were Stuart Weitzman boots in excellent condition. They had absolutely no scuffs or uneven wear to the heels and appeared to be made of calf. I listed them for $89.99 obo. They should sell for at least $69 or so if I'm patient. I priced them a little high, but I've been getting more than the going rate for a lot of my products. Not sure if that has to do with the fact that I'm finally a Top-Rated Seller or what.
They're a good size (7.5) and probably retailed for around $400. Two people are already watching them. Since it's March, these might take a while to sell, but I'm willing to wait. At 5 cents a month, I don't mind. (Update 4/4/11: I took an offer of $45 -- still pretty good as I decided to flip them as fast as possible instead of waiting until next fall.)
Next, I found a pair of Ros Hommerson women's sandals in a size 11WW. I jumped for joy! I love the size 11WW because it's impossible to find. They retail for about $80. They were in perfect shape so I listed them at $24.99. They shouldn't take long to sell since it's almost spring -- no best offer on these. 11 double wide is an extremely hard size to find, and these were probably worn once. (Update: They already sold to someone in Canada -- like before I could post this! I think I will list them at $29.99 next time!)
Finally, I picked up a pair of Born sandals that retail for around $80. They were in pretty good condition and should bring in about $19.99, especially since summer is right around the corner! Had they been more attractive, I would have priced them higher. (Update: They already sold for $19.99 -- again, before I could post this.)
Total cost for all three pairs? $11.50. Total profit after all is said and done? I'm guessing around $80. (Update 4.4.11 -- I ended making almost $70) Total time it took me to drive to the thrift shop, pick up inventory, list and eventually ship all three pairs? About an hour. Hey, that's almost $80 an hour. (OK. I ended up making almost $70 -- still pretty good for having fun!)
I'd like to point out that although I live in a nice little college town, the area is not known for it's wealth (to say the least). So don't think you can't go out and score. It's easy to do when you know how to do it.
When I purchased these shoes, I was pretty confident they would sell because I'd sold these brands before. When it comes to eBay, experience matters. It definitely does. So get out there and get some experience! But before you do, check out my "Score of the Day."
I read a lot of blogs and listen to quite a few eBay-related podcasts. That's how I learn about new products. I've actually been trying to find more items to sell at auction. In general, shoes are not good auction items. One of the podcasts I listen to happened to mention watchbands, so when I saw one at a yard sale, I decided to pick it up.
It was in good shape, and it was a Tag Heuer. Tag Heuer watches are extremely pricey. I picked it up for $1. I wasn't sure how much it was worth, but for $1, I had nothing to lose.
So I got home and looked it up on Terapeak. Sure enough, it was worth around $60. So I decided to be daring and list it at auction for a starting price of $9.99.
The bidding started early (always a good sign) and before I knew it, it was up to $50. But things didn't end there.
People went crazy and when all was said and done, it sold for...
$160!!!
Congratulations, eBay! You've still got it!
(A man in London bought it and already left positive feedback, so the deal is sealed!)
Gotta go now. Don't forget to check out my store, Bluefrogshoes.com for fab deals on pricey shoes. Remember: I specialize in hard-to-find sizes, so if you have a problem finding your size, check it out! If you need tutoring, email me at Bluefrogshoes@live.com. And if you're interested in reading an awesome newsletter, check out Skip McGrath's! I've been reading it for years. Have a good week!
