Well, that is where cost control comes into play. ALL of my fees, including COGS, runs about 25% of my gross.
Not everything is worth the effort, or suited to, an eBay environment.
Not everything is worth the effort, or suited to, an eBay environment.
"how does anybody make any money here"
Maybe you should ask how does anyone make money selling "stuff" at any retail level?
If you have a brick and mortar store - stand alone or in a mall - you pay rent, staff, utilities, advertising, insurance, credit card processing, etc... Not unusual to see those expenses add up to 20% to 50% of the gross sales once you factor shoplifting and pilferage.
If you sell through "mail order" (also known as direct marketing) you do not have the rent and utilities expenses but you may have higher advertising cost.
On eBay, you only pay a commission (10% or less) if you sell in addition to minimal listing fees. PayPal fees are competitive to what you would have to pay if you had a merchant account with a store.
"wonder if its really worth it.."
It all comes down to the gross margins you are working with and the value of your time.
At the end of the day, you make a profit by being able to offer attractive products at competitive prices and having an edge on your purchasing costs.
The method of distribution - store, flea market, website, eBay, or whatever - is a matter of personal choice and time availability. A successful result is achieved by : those who buy right, sell right!
Femme, send yer DH down here to Belleville. I can't get good stuff at anything except above retail. Maybe he can score something for me.
"Femme, send yer DH down here to Belleville."...
... and after he visited mr. elmwood, tell him to walk around the corner where he could find a huge stamp 'estate' available at a very fair price (about 70% below retail)!
"We in Canada can buy USA items tax free for items under 40.00.."
The official government website advises:
http://www.cbsa-asfc.gc.ca/import/postal-postale/duty-droits-eng.html
Now, it is understood that many packages with value exceeding $20 go through the postal system without tax being assessed because the folks at Canada Customs do not do their job for whatever reason.
"bottom line, can you turn the product ?"
So true. And that applies to all of us, even the most experienced sellers.
About twelve years ago, I purchased a large lots of 2,500 identical mint postage stamp sets from Myanmar (Burma), still in the original packages from their Post Office. The price was so low I could not miss.... The (inflated) catalogue value was US$340,000 and my cost was only $11,000. Few sets were offered for sale anywhere amd I hoped I could get a fourth to a third of catalogue value over time.
I was wrong. It turned out few stamp sets were being offered for sale because fewer collectors were interested in paying a high price for these stamps. I eventually lowered the price, lowered again, and again, and again to finally dispose of them slightly below my original cost from ten years earlier, to a dealer overseas.
There is no guarantee in business. Even if you have knowledge and experience, mistakes will happen and you may end up buying "stuff" that will not move.
He could spend the same money in Belleville instead of Halifax! Keep it in Ontario!
@pierrelebel wrote:He could spend the same money in Belleville instead of Halifax! Keep it in Ontario!
Ahemmm... we can really use the cash here...
(posted from my 'retreat' here near Annapolis Royal, NS)
This is how ya make money. I went to an auction today. Picked up a set up new tail lights with metal guards. Cost me $13. They are factory Hummer H2 and I will list for around $400. After this, that, the other, fees, shipping, I should clear $300.
Two other piles of $5 each yielded a $300 pile and a $400 pile. Then there is the bag full that cost me $5 and I am WAGing there is $300 in that pile.
I was only there because I went to pick up the online auction stuff I had spent $43 on. I will list that plie for $200.
That is how I make money here.
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