Most sellers don’t know this trick
TLDRIn this video, the host discusses various strategies for successful garage sale shopping and online reselling. He shares his recent finds, including a Fujifilm camera, Brooks running shoes, and a vintage race car track, emphasizing the importance of knowing the value and demand for items. The host also addresses a viewer's question about finding garage sales and recommends using apps like Yard Sale Treasure Map and Facebook Marketplace. He talks about his experience with a military address delivery issue and advises on handling such situations. The video includes a detailed discussion on the effectiveness of eBay's promoted listings and the strategy behind ending and relisting items to refresh their visibility. The host concludes with his top and worst flips of the week, providing net return figures and insights on the resale process.
Takeaways
- 🔍 **Identifying Sold Comps**: A big green slash through the price indicates the seller accepted a best offer, but the exact amount isn't shown.
- 🎥 **Garage Sale Tips**: The speaker shares personal strategies for finding and sourcing items from garage sales, including using apps like Yard Sale Treasure Map and Facebook Marketplace.
- 🛍️ **Inventory Insights**: The importance of buying items in bulk at garage sales and then selling them individually or in lots is highlighted.
- 📦 **Shipping Issues**: When a package is marked as delivered but the buyer claims not to have received it, the seller is generally not at fault and should not issue a refund unless they can verify the claim.
- 📈 **Promoting eBay Listings**: The speaker advocates for promoting all listings on eBay at a minimum of 2% to increase visibility and sell items faster.
- 📝 **eBay Relisting Strategy**: Ending and relisting items on eBay can refresh their visibility and potentially lead to faster sales.
- 🛍️ **Estate Sale Strategies**: The speaker discusses techniques for managing items during estate sales, such as using large bags for carrying and paying in batches to reduce the load.
- 📐 **Parting Out Items**: The benefits of breaking down items into parts to sell individually are discussed, emphasizing higher profits and easier shipping.
- 🚗 **Vintage Finds**: The value of vintage items, such as a vintage race car track or a vintage Pyrex coffee pot, is highlighted, noting their demand and potential for high returns.
- 🛡️ **Home Security System**: A new ring alarm home security system bought at a garage sale is mentioned as a quick and profitable flip due to its high demand and brand value.
- 📊 **Sales Performance**: The script concludes with a summary of the week's sales, including the gross and net income, and the number of new listings and sales made.
Q & A
What does a big green slash through the price on sold comps indicate?
-It indicates that the seller accepted a best offer, but the exact amount of the best offer is not disclosed.
How does one find garage sales to source new inventory?
-One can find garage sales by driving down well-known local paths with neighborhoods, using apps like Yard Sale Treasure Map, or checking Facebook Marketplace.
What was the best find of the weekend in terms of value in the script?
-The best find of the weekend was a Cool Pix s8000 camera found in a 50 cents pile at a garage sale, which is worth about $150.
What is the recommended strategy for promoting eBay listings?
-The recommended strategy is to promote all listings at the bare minimum of 2%, as it increases the visibility of the listings and helps sell items faster.
How does the seller handle situations where a buyer claims not to have received an item that shows as delivered?
-The seller does not issue refunds in such situations since eBay backs the seller if the item shows as delivered. However, the seller may assist by providing the local post office contact for the buyer to follow up.
What is the process for finding out the actual sale price of an item sold on eBay through a best offer?
-One can use Terapeak to search for the exact title of the item. Terapeak will show the actual sale price, which is helpful for valuation purposes.
What is the average net profit margin for the seller in the script?
-The average net profit margin is typically in the high 40s or low 50s.
How does the seller decide whether to part out an item or sell it as a whole?
-The seller decides to part out an item if it will yield a higher profit and is easier to ship, and if there is a demand for individual parts.
What is the seller's process for carrying items while looking through different rooms and piles at an estate sale?
-The seller uses large Ikea bags to carry items and, if necessary, pays for filled bags and takes them to the car to make another round.
What is the significance of the green slash through the price on sold comps on eBay?
-The green slash indicates that the item was sold for less than the original listed price, typically through a best offer or a negotiated price.
What is the seller's strategy for dealing with items that have a high likelihood of being broken in transit?
-The seller is cautious about purchasing such items at high prices, and if bought, they ensure careful packing to minimize the risk of damage during shipping.
Outlines
🔍 Garage Sale Finds and Best Offer Tricks
The speaker discusses the process of identifying sold comparable items on online platforms, mentioning that a green slash through the price indicates the seller accepted a best offer, but the exact amount remains undisclosed. The video then transitions into a Q&A format, addressing how to find garage sales and sharing a successful garage sale experience. The speaker highlights the value of certain brands, like Nikon and Levi's, and the strategy of buying items in bulk to negotiate a better deal. They also mention using apps like 'Yard Sale Treasure Map' and Facebook Marketplace to locate sales, despite the latter's shortcomings. A question about a missing item shipped to a military address is addressed, with the speaker explaining the challenges of resolving delivery issues and their policy on refunds.
🎒 Profitable Resale Strategies and Promoting Listings
The speaker shares their experience with reselling various items, including a Fujifilm camera, Brooks running shoes, and a Mountain Smith lumbar day pack, emphasizing the high return on investment (ROI) achieved. They delve into the topic of listing optimization, particularly the use of eBay's promoted listings feature. The speaker argues that spending a small percentage of the potential profit to promote listings can significantly increase visibility and speed up sales. They also discuss the importance of understanding when to use promoted listings and when it might not be beneficial, such as with unique items that already rank high in search results or items with no demand.
📦 Managing Inventory and Parting Out Items
The speaker addresses a viewer's question about managing items at estate sales, sharing personal strategies for carrying and purchasing multiple items efficiently. They discuss the process of parting out a Quezart food processor and a vintage race car track, highlighting the benefits of selling individual components instead of the entire unit. The speaker also talks about the advantages of paying for items in batches to better understand the pricing strategy of the sale and to manage their inventory more effectively.
🚴♂️ High-Margin Sales and Valuing Best Offers
The speaker recounts their successful sales, including a Mountain Smith bike cube, a vintage Pyrex coffee pot, and a vintage Mark Martin Valene satin jacket, each with a significant profit margin. They also discuss the challenges of determining the final sold price of items sold through best offers on eBay. They reveal a method using Terapeak to find the actual sale price of such items by searching for the item's title in the Terapeak product research tool. The speaker emphasizes the importance of understanding the true value of items for valuation purposes.
🏡 Top Flip of the Week and Reflecting on Sales Performance
The speaker details their best flip of the week—a new ring alarm home security system purchased at a garage sale for $30 and sold for $558, yielding a substantial profit. They reflect on the week's sales performance, which included a variety of items like a video game and a Hallmark American Girl doll. Despite some items not yielding the highest profit, the speaker reports a satisfactory week with a gross income of $989 and a net income of $565. They encourage viewers to subscribe for weekly updates and answer more questions in the upcoming video.
Mindmap
Keywords
💡Sold Comps
💡Best Offer
💡Garage Sales
💡Inventory
💡ROI (Return on Investment)
💡Promoted Listings
💡Estate Sales
💡Parting Out
💡Vintage Items
💡Security System
💡Net Profit Margin
Highlights
Understanding how to identify sold comps with accepted best offers and the trick to determine the sale price.
Discovering the best ways to source inventory through garage sales and the benefits of buying certain brands like Gy Shore.
Learning how to find garage sales effectively using apps like Yard Sale Treasure Map and Facebook Marketplace.
Garage sale strategies, such as driving well-worn paths and looking for signs in neighborhoods branching off main roads.
The importance of researching and listing items, especially when dealing with unfamiliar areas or trying new locations.
Dealing with situations where a buyer claims not to have received an item, despite tracking information showing delivery.
The decision-making process on whether to offer a partial refund or no refund in cases of disputed deliveries.
The impact of promoting eBay listings and the strategy behind using a minimum 2% promotion on all listings.
Identifying which items are not suitable for promotion on eBay, such as one-of-a-kind items or items with zero demand.
The process of parting out items like the Quez art food processor for better profitability and easier shipping.
Strategies for carrying items at estate sales without overwhelming oneself, such as using large bags and making multiple trips.
The advantage of paying for items in batches at estate sales to understand pricing and increase buying confidence.
The high demand and profitability of vintage items like the Pyrex coffee pot percolator, despite the challenges in shipping.
Using Terapeak to find the real sale price of an item sold on best offer, which is essential for valuation purposes.
The significant return on investment (ROI) from selling a vintage NASCAR satin jacket found at an estate sale.
The strategy of pricing items to sell quickly, as demonstrated by the rapid sale of a Ring alarm home security system.
The importance of knowing the value and demand of an item before purchasing it at a garage sale to ensure profitability.
An overview of the best and worst flips of the week, providing insights into successful and less successful sales strategies.