What a crazy last couple of weeks for me on eBay! I bought an entire house full of stuff (well almost)! Luckily my best friend from High School, Melanie, was out visiting from Boston. She had rented an SUV and we made a ton of trips from Cathedral City with my loot.
Mel and me at a football game.
There was so much merchandise that it was taking over my life (and my house) and I am happy to report that most of it is now sold! Yes, I know what to do with a house full of merchandise and how to flip it in less than two weeks (I will demonstrate this at my eBay Boot Camp in November.) Read more here.
In this issue, I am going to use a few of the items that I bought in that house full of stuff to demonstrate why I prefer and recommend selling items yourself on eBay versus taking them to an eBay consignment store. You will be saying, “You sold it for HOW much?”
I did over $10,000 last month on eBay and I am shooting for another $12,000 this month (October). My best months are really November and December and I am gearing up for the holiday rush! You should be gearing up also and there is no better way to do this than to attend my eBay Boot Camp in Los Angeles.
And for those of you who missed my eBay Griff interview–read on. It was a hoot! Griff and Lee are hysterically funny and you shouldn’t miss this one. There is a link to the download and more details below.
This ezine is published twice a month.
October 3, 2006 Volume II, Issue 13
- Lynn Recommends!
- Consignment Drop-offs vs. Selling for Yourself–My Success Stories!
- eBay Radio with Griff–Listen to it here
My eBay Boot Camp–November 3, 4, and 5–near LAX (Los Angeles, California).
If you are on the fence about attending my eBay Boot Camp in LA–Don’t delay in making your decision. Seats are selling quickly. We have been selling up to five seats in a day and at this rate, they will not last. It will sell out. Click here to sign up now or click here for more information.
Remember that awesome email from my former Boot Camp student Sharla from Denver, CO? Well, guess what? Sharla will be returning to the Los Angeles boot camp to help us out. This event is getting better and better.
If you are a procrastinator, don’t file this away to look at later. That won’t work this time. I am looking out for your best interests and at midnight on Thursday, October 5th, the 3-part payment plan is going away. You must sign up now!
I want you to have the best holiday season ever on eBay and make your dream a reality–you need my boot camp! (We’re also going to have a blast!)
Consignment Drop-offs vs. Selling for Yourself–My Success Stories!
I am often asked what I think of the consignment drop-off stores. In fact, I am going to be quoted in an article in AARP Magazine (22 million readers), and I was asked that very question. Here is the reporter’s query along with my response. I will also offer some concrete examples of why I think you should sell items yourself.
I meant to ask you about your thoughts on the chains opening up that handle eBay auctions for you. Are those worthwhile for someone who really isn’t comfortable with putting together a listing and dealing with shipping? Any suggestions for someone who wants to go that route?”
-Rachel for AARP
I am not a big fan of the consignment chains–for several reasons. They have dollar minimums. For example, if they don’t think your item is worth $50 (at some of the chains) to $70 (at others) they will not take it and put it up for sale for you. They are looking for the easy auctions.
“Quite frankly, I don’t even know which of my items are $50 items. It always shocks me what sells for the most–so I think that the consignment stores are too picky. Also, they take between 25 and 40%. That is a lot of money that could go into your readers’ pockets. I do recommend the consignment stores if you just don’t have the time, you have an expensive item and you don’t mind giving away $250 to $400 on a $1,000 item. I hope that helps.
Now for the fun part! The examples from what I got in that house full of stuff. The way that I was able to list over 400 items that I purchased in that house in two weeks is what I call “The Dralle method.” One secret of the Dralle Method that I will be teaching (at my eBay Boot Camp) is that I don’t spend more than an hour on research each week. What? You might be saying. That goes counter-intuitive to all we believe. Yes–but my system works and is proven.
Here are four items that I sold without doing any research:
1. A Harley Davidson Stein
2. A Harley Davidson Clock
3. A pair of antique Wilson goggles
4. An Asian Enamel Rabbit Lamp
Let’s look at Item Number 1: A Harley Davidson Stein
Now if I had taken that stein into an eBay consignment store, the person behind the counter would have spent 10 (wasted) minutes trying to figure out its value. They would have found that the Evolution Harley Beer Steins from 1998 sell for between $18.99 and $34.99 (from completed eBay auction research.) They would have handed it back to me and said “Sorry, it is not worth $50 (our minimum) and we will not take it.”
I listed it with no research and guess what? It sold for more than any in the past month. Click here to see what it sold for.
Let’s look at Item Number 2: A Harley Davidson Clock
This clock was another Harley Davidson item. I did my research using HammerTap (after the fact) for the purposes of this ezine. What I found was that in a 30-day period the average sales price for a Harley clock was $32.42. This also included the more expensive neon clocks. My clock was very simple and plain wood. Again, the consignment store would have turned it down as being below their minimum.
My clock sold for over $50 on September 20th and was shipped to Indiana. Click here to see what it ended up selling for. Cool!
Let’s look at Item Number 3: A pair of Antique Wilson Goggles
These goggles were really neat! I did do some research on eBay and PriceMiner. This was part of my one-hour per week on research. I found some important keywords to use in the title like “side shield”. I didn’t do my research to ascertain value. So, I went back today to Priceminer and found that the Wilson goggles sell for an average of $39.53. Once again less than the consignment store’s minimum.
You won’t believe what these ended up selling for. Click here to see the actual auction. Way more than I expected! Wow!
What is my secret? Attend my eBay Boot Camp to find out. Click here for Boot Camp info.
Let’s look at Item Number 4: An Asian Enamel Rabbit Lamp
So, let’s say I took this lamp into a consignment store and they spend 1⁄2 hour trying to find the value. They could literally spend hours and hours and never find anything about it because it did not have a maker’s mark. Finally, they say the closest lamp to yours sold for $19.99 so we won’t take a chance on it. BIG MISTAKE.
This auction blew my mind. Click here to see the final sales price! Yikes.
The moral of this story is that you can never be sure what an item on eBay is ultimately going to sell for. When someone would ask my grandmother what an item was worth, she would reply, “I never know until it sells. It is only worth what someone is willing to pay for it.” As you have seen, values on eBay vary incredibly from week to week and from seller to seller. This is why you should be the one to sell your items on eBay instead of taking your items to a consigner.
My September Radio Interview with Griff and Lee!
My interview on WS Radio last month with Griff and Lee was a hoot! We discussed those Yankee Candle Tarts that I sold for my sister (from the last ezine.) We also talked about a red Alfa Romeo convertible that I purchased to sell on eBay. Here is a link to the interview so that you can listen right on your computer.
Griff, Lee, and me at eBay Live
Happy Buying & Selling!
P.S. If you aren’t making all the money you deserve on eBay….you must check this out.
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Lynn is an experienced eBay Power Seller, author, and teacher. If you want to know the eBay tips, tricks, and tools that Lynn uses for buying and selling at an online auction click here.