How many sellers on this board have sold over $1 million on eBay?

[gifts_of_elegance]

I have never seen this topic here before.  How many sellers here have sold over $1 million on eBay?  

[toby_le_pue]

You and the Canada Revenue Agencey would like to know.

[pierrelebel]

I have (prior to my retirement) and all of it was properly reported to CRA, year after year.

[pierrelebel]

PS - I also know of many other stamp dealers who have but do not visit these discussion boards.

[lukey9]

When you answer that Question you better have Good Records or a trusty accountant, CRA loves these topics.

[cumos55]

There are several questions  one should never ask... here or elsewhere.

(1) How many sellers on this board have sold over $1 million on eBay?  Not quite!

(2) Where do you get your inventory to sell on eBay?  Where????

(3) Can you help me learn how to sell on eBay?   Come back after you have feedback of 150

(4) Can you help me learn how to sell on eBay?  A $10,000 deposit in my account would start the process.

(5) Can you help me learn how to sell on eBay?  I will drive you crazy with what I know... Consult numbers 3 and 4

(6) I have 200 books  each valued about $20 ..... Can you sell them for me.

We start with a deposit of $5.00 per book... just to list them.  

This deposit is not refundable......If the book sells this is a part of the fee I charge....   and my fee is 50 % of the final price... eBay and Paypal fees are included in this 50 % that I charge.

(7) Can you sell?this item ???  for me????.  Consult Number 6.

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This is a good start.

Every seller sells on eBay based on personal experience....  and based on what they sell.

There are generalities to selling on eBay.......something that everyone knows... 

Never ask about specifics... that is called..... Proprietary Information... and that information is ... priceless... and only to the seller that has this information.

To every one else it is a million dollar price tag... an easy way to earn a million dollars selling on eBay.

[pierrelebel]

"you better have Good Records"

I agree.

Was audited twice by CRA - both GST/HST and Income Tax.  All OK.  Final Bill $0.00 

[pierrelebel]

"Where do you get your inventory to sell on eBay?  Where????"

I never had a problem telling folks, including competitors, where I purchased my inventory for resale.  Having that knowledge does not mean much unless you know what you are doing and can afford to make those purchases.

In fact, in the "good old days" (prior to retirement) I could be in a room with fifty or more competitors (other stamp dealers) where a public philatelic auction was conducted .  We all all the same opportunity to buy the lots we wanted.  There was no secret as to who is buying what and for what price.

[cumos55]

Auction sales... but beware.

Someone showed up an an auction ready to buy...  and he kept buy with that one bid extra.... and did very well.

Always overbidding this one person.He had been a spectator at other auctions

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This fellow showed up and did the same at another auction.

Only this time  the person that was outbid at that first auction sale... now bid well above his safe price.... and that top bidder found out... the hard way..... 

Do not compete unless you know what you are doing...

That newby bidder never showed up again... learned his lesson... the hard way.....

[pierrelebel]

" unless you know what you are doing..."

That has always been the key.

At a public philatelic auction, you will find collectors and dealers.  Everyone knows who is who.

[lukey9]

I've had the GST/HST Audit a few years back and every thing was fine but it is still stressful   waiting for the results. I sell allot of German Military items and when they ask me where I get it I'm always honest and tell them from Germany.

[rose-dee]

'cumos' -- Thank you for my "smile of day" with that list of 7 questions.  You are absolutely right!  

And as far as (2) goes ("Where do you get your inventory?"), I imagine many sellers do not bid openly with other competitors in a public auction to get their products, but have their own "quiet" channels and proprietary sources that they would never wish to reveal.  In fact, I'm sure that for some, those private sources are the reason they can sell on eBay.  

Each seller has her/his own way of making it work for them on eBay.  There are different kinds of successes on eBay.  It's useful to remember that a big number isn't everything.  Not everyone needs to earn a full-time living at selling on eBay.  For some, great success is measured in being able to supplement a limited income, or pay for extras in life.  However, I think most of us who are here running a business need to turn a profit, and our background knowledge and experience is what makes that possible.   

Personally, I'm happy to help out a newcomer with a specific issue or problem if I can, but asking for a revelation of income or a précis of years of hard-won experience and personal sources is another matter. There are books on that subject by people who earn royalties for writing them.  

[rose-dee]

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@lukey9 wrote:

I've had the GST/HST Audit a few years back and every thing was fine but it is still stressful   waiting for the results. I sell allot of German Military items and when they ask me where I get it I'm always honest and tell them from Germany.

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Love your store name by the way -- is that an old cat with bad teeth?  

[cumos55]

I have had a few ask me what do I do with the books I buy...

My answer....Make doorstops...  and then I tell them about the encyclopedia bookcase

sorry... Worldly bookcase.

[cumos55]

There is something called dealer's,  or picker's etiquette

Always help the collector.... Many times  I have been at a book sale looking for inventory.....   and very quickly found something for a casual buyer.... and then

at the next sale.. they may even find something for me.

Knowing when to let the other pickers clean out a table of books... of Manitoba history....move on and find great inventory at the military table... and then at the art table....  and  then keep on moving.... 

and then they realize...  you have a buggy full ... What did they miss?...

or they find something... I ask for a good look... and then find it within months....

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It was an auction sale for a major stamp collection....  Someone that I knew was interested... but had never been to an auction before...  He thought $50 a book of stamps for a specific country....

My answer  be careful... and if you really want it.

The rule is ... When in doubt bid...  for if you want it you will never be sorry...He was bidding against a dealer.  got his books  and walked away happy...  even with paying more than expected.

and that dealer bought what he wanted....  knew what he wanted.....  and his end value... $10,000 when he sells his purchases...

knowledge is a big winner.

[cumos55]

Knowledge is always a big winner.

Bid on hockey cards... Nine rookie card.

First one sold for $45

Second and third ones also sold for $45 each.

the last 6 also sold for $45 each

All bought by the same buyer...

The bidding crowd heard rookie cards  an bid  to the absolute.

The only problem.... atleast 6 of the cards could be bought elsewhere for $6 to $10 each....

Buyer beware...

The best way to learn on eBay is 

Sell what you know...   and know what you sell.

and in searching for inventory... it is Buyer Beware....

[cumos55]

And from the bookseller board on eBay.com.

Q...How to end up with a million dollars selling books?

A..  Start with two million dollars.

Selling is not easy...  Success comes in baby steps....  eBay has a very broad range of categories in which to sell

Start with  earning pennies...  apologies... no more pennies...

Start with earning nickels...  and the dollars will follow...  and maybe someday  the total just might be $1,000,000

[lukey9]

Hi Rose-Dee

It  is Das Katze-Atem Hotel Warenhaus

The Cat Breath Hotel General Store

I've never seen another Store on E-Bay close to that name

[38e_avenue]

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@lukey9 wrote:

Hi Rose-Dee

It  is Das Katze-Atem Hotel Warenhaus

The Cat Breath Hotel General Store

I've never seen another Store on E-Bay close to that name

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Das stimmt volkommen - beim kanadischen Ebay nie gesehen! 😉

[Anonymous]

Good question! I would love to know! I took an eBay courses taught by an employee who works for a city of a city in a province. He said he sold his items which he designed for the car (some parts) and became a millioniaire. All his salary from his work at the city goes to bank while they live on his wife's salary. He will retire at age of 55 years old and can travel all over the world plus working on eBay when need after they pick up something worthwhile to sell on eBay. I learned a lot from him in 6 weeks like you wouldn't believe. Awesome guy.