Selling Online – Amazon and Ebay

Jan 09

Here’s a bit more of a glimpse into what we’re selling on Ebay and Amazon and how we’re doing it.

disney_princess_stationery_setThis Disney Princess stationery set is something I found at a discount store. This is one example of retail arbitrage. It’s brand new, in the package, and I’m selling it on Amazon for about three times what I paid for it.

subway_checked_shirtI can’t sell clothes on Amazon because it’s a closed category, but I can sell them on Ebay. I didn’t know it, but uniform shirts tend to sell well on Ebay. I found these Subway shirts – the checked shirts and some polos – and I have them listed now.

10_mash_vhs_resizedThis is an example of something I found at a thrift store – a set of MASH episodes on VHS. Believe it or not, VHS still sells well in certain categories. Non-fiction like documentaries, exercise videos and the like do pretty good. Also movies or TV shows with a good following, and that’s why I bought the set.

salt_bundleThis is an example of a bundle I’m doing on Amazon. I have an individual account (there’s individual and professional, which costs $40 month) and usually you need a professional account to create your own listing. I have the good fortune to be part of a beta group of individual sellers that they’re allowing to create items. This means I can create a bundle or multi-pack. I found these flavored salts at a discount store and they’re selling well on Ebay individually, so I decided create a bundle and sell them together. We’ll see how it goes.

How do I know what will sell? I have an app on my cell phone called Profit Bandit. It costs $15 (one-time fee) and I can scan a barcode from any item in a store and it will tell me what it’s selling for on Amazon. I can customize the app to include my buy price and sell price and the app will take into account the Amazon fees and I’ll see my potential profit. I started out using a free app – Amazon Price Checker – for my first few shopping trips.

I also have a free app called Evaluator. I can look up items on Ebay and see current and closed auctions. This way I can tell if something could be profitable to sell on Ebay.

I’m not going to go into detail on how to sell on Amazon or Ebay, setting up listings and all that. Why reinvent the wheel? Here are the best sites I’ve found that share tons of information if you’re interested in finding out more:

http://www.youtube.com/user/dollarmoves

http://thriftingforprofit.com/

http://howazon.com/

And this is the webinar that started it all:

http://www.youtube.com/watch?v=_JWQb1e9c6s

We started selling on Amazon in September after watching the webinar above. I did the books for the end of the year and we made a great start, in my opinion. We’ve grossed $345. With the inventory we bought and fees, we’re at a loss of about $150. However, the majority of the items we still have for sale already belonged to us – we’re cleaning out Scott’s library and selling other items. So we’re going to be slowing up on the inventory purchases and continuing to send in items we already own. If you want to get started selling on Amazon or Ebay, that’s a great way to start.

Have you ever sold on Amazon or Ebay? Do you have any tips to share?

 

 

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