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Old May 16, 2022, 07:42 AM
Dien Rice Dien Rice is online now
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Join Date: Aug 2006
Posts: 3,102
Default My big eBay mistake!

Hi Gordon,

You've reminded me of my big eBay mistake!

I think it was back in 2002... Jeepers, that's 20 years ago now...

I had already done some chatteling (successfully)... and I had read Jim Straw's report, on how to "Make a Fortune Just Snooping Around"... (good report by the way...)

So, I started snooping...

Those were the days when people were still buying music CDs.

I found a music CD store... going out of business!

I had some spare cash at the time, so I organized to buy all their stock, which was all NEW...

I forgot how much it cost, it was probably around $5,000 or so... But I figured I could make many multiples of that, selling the stock (mostly music CDs, with some DVDs thrown in), individually...

So, I got to selling my new CDs on eBay...

What I didn't count on was - as you point out - the TIME it takes to do the listings!

Because virtually each listing was different!

It's not too bad if you're selling 100 of the SAME THING... Because the listing is the same. You only have to create it once, then list it again and again...

But if you're selling 100 different things... that's a lot of TIME and WORK!

You have to do each listing individually!

Then, I haven't yet gotten to the time it takes for packing and shipping each single CD...

Ahem... Anyone wanna buy some music CDs? (I still have a couple of boxes stored away...)

Best wishes!

Dien

Quote:
Originally Posted by GordonJ View Post
I jumped to the 8th week in THE CHATTEL REPORT, THE SPRINT TO FREEDOM and never looked back.

Everyday. Every single day, I find items selling between 500 and 1500 dollars with at least 25% stored value in them. Or, 100 bux to 300+ dollars. Go up a thousand and you find at least 400 profit in that amount.

It is the least understood, and yet the most important part of FLIPPING or buying and selling anything.

I marvel at the guys selling 30 and 40 dollar items on eBay by the hundreds, just the time alone it takes to package and ships, is time I could spend feeding squirrels in the park.

TIME VS. MONEY has always been an issue for me.

Maximum dollars in MINIMUM time, not only a great Gary Halbert headline, but also a great maxim for all business/money making ventures.

People look for THINGS to sell. I look for dollars.

What are people selling on Facebook marketplace, or craigslist or local buy and sell groups that have STORED value, there is where I do my searches, and sure it takes time to learn it...but in the 25 years since I wrote that first report, anyone could have become an expert on anything.

And even without personal expertise, I can borrow expertise for next to nothing, which is where building networks come in, which to my knowledge, not one of the thousands of readers have ever done.

Dollars, not things. Buy then sell for market value.

Or complicate the heck out of things.

Gordon
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