Wow, those eBay changes took me by surprise! I thought that eBay would wait until March 31st when Meg stepped down to do anything so major. Don’t miss my feature article. It will make your day–it made mine!!!
- Lynn Recommends: ecourse update pre-sale
- Special Announcement: Live Boot Camp is open for your Reservation!
- Feature Article: eBay Fee Structure Changes–I could save $901 in the next two months!
- The Queen’s Update: We want to hear your eBay success stories!
This ezine is published once a week.
January 31, 2008 Volume IV, Issue 5
I was exhausted last Saturday morning. After driving 8 hours to Phoenix and back in a 24 hour period and then working every other spare minute–I just didn’t want to get up early to go to garage sales. But, somehow, my mom and I did it!
There have not been many sales out here this January. We can’t figure it out. If the economy is so bad, why wouldn’t more people be having garage sales? It just doesn’t make sense. Another reason may be that we have had some rain this month and people don’t want to risk having a sale if there is rain in the forecast. That never stopped us in Bellingham–because the forecast was ALWAYS for rain. Just kidding!
I ended up spending only $130 and got one tiny box that barely took up any space in my mom’s mini-van. Here is a photo of what I bought on Saturday.
Once I had spent that $130, I was out of cash, so my mom and I went to the Washington Mutual that we always go to near McDonald’s on Highway 111 (Saul & everyone…do you remember that McDonald’s from Live Boot Camp?). Well, we got our cash and continued on our way. Little did we know at the time, but just hours before (on Friday afternoon), that same bank was robbed with Carol Channing inside. It was on Fox News and Good Morning America–you may have seen the coverage! Boy, were we lucky that day!
In addition to missing the bank robbery, the best part of my Saturday was that I got 2 dinner sets and 2 sets of flatware. My favorite kind of merchandise! And I had the patterns identified by the time we got home. I was going to write about how I accomplished that feat for this week’s feature article, but I just got the announcement from eBay about all the new changes. Yikes!
My feature article will address the fee structure changes. We have all been through this before and our eBay businesses have survived and even thrived. Don’t be discouraged until you read my feature article. I think it will put it all in perspective. AND I have some good news–the new fee structure is going to save me and hopefully, YOU money$$$!!!!
Nevertheless, I have to admit that I am still in shock about sellers not being allowed to leave buyers negative or neutral feedback–so I will have to think about that one for a while before commenting. AND I am hoping that eBay realizes that this is a huge mistake and changes it back before I comment!
Now back to good news, I want to update you on the rust crackle Pier One dinnerware set that I paid $20 for. I sold 19 out of the 25 auctions I had listed. The vegetable bowl didn’t sell for the most but this plate did.
Click here to learn more.
Grand total sold from my $20 investment was $191.34 and I still have six items that were listed in my store at higher than the original auction starting price. When they sell, I will gross another $87.00. Gotta love dinnerware!
Also, this week in my tiny pile of merchandise, I picked up six odd pieces of illy espresso items. Turns out that illy pieces are made in Italy, designed by famous people, and can sell for more than Starbucks items!!!
Click here to see what this cup and saucer is up to and learn more.
76 people have already viewed it and when I was doing my research on PriceMiner, an early illy espresso cup, and saucer sold for $2,000!!! Unbelievable….
Speaking of Unbelievable, that is what the Live Boot Camp experience will be for those lucky enough to attend. Please read the Special Announcement section to learn more. We are ready to accept reservations!!! How exciting!
In the Lynn Recommends section, I am very happy to announce that after two years, I have completely rewritten my original basic ecourse. You must read more about this.
Finally, I get emails from many of you that want to buy my full Boot Camp in a Box but just can’t afford it. So, I listed one on eBay this week starting at 99 cents. It ends 1/31/08 (today) at around 2:30 pm Pacific so click here to place your bid.
Remember that PriceMiner‘s Jim Kamnikar is going to give away a 2-year subscription to one of my lucky ezine readers. Click here to enter the drawing. We will choose the winner around February 1st. Good Luck!
Here’s to Successful eBaying!
I wrote my original basic ecourse back in 2005. For the infomercial, we had to update it and make it completely current. It is now not sent out week by week but is sent to you all at once as a course you can go through at your own pace.
It is now called “Six Steps to eBay Success” and still covers all the topics of the original ecourse but updated with new screenshots (remember eBay recently changed their SYI (Sell your Item form)) and my new and revised strategies.
I was amazed at how much had changed since I originally wrote it almost three years ago! Yikes, time flies!
So, if you have ever purchased the basic ecourse, watch for an email with a special invitation to get this upgrade for a super special low introductory price!!! And if you have never purchased the ecourse, watch for a special intro price for “Six Steps to Your eBay Success.”
The invitations have gone out for the ONE and ONLY Live eBay Boot Camp of 2008. It will be held (once again) at the amazing La Quinta Resort here in the Palm Springs area.
To get the best room rates for my students (and myself!) it will be held the weekend after Labor Day; Friday through Sunday, September 5th-7th, 2008.
Click here to learn more.
This Boot Camp will sell out–especially with the infomercial coming out on February 2nd, so I encourage you to reserve your seat as soon as you can.
I am so excited to have another fun bunch of students meet us here this Fall. I hope that you will be one of those students.
Click here to reserve your spot now.
‘I could save $901 in the next two months!‘
by Lynn A. Dralle, ‘The Queen of Auctions’
Before we look at the new eBay fee structure, I wanted to update you on the Oaxaca pottery from last week. I sold seven of the auctions for $175.49 and I have eight auctions that didn’t sell. I raised the prices (as I often do when putting them in my eBay store) and when these eight items sell, I will net another $120.00!!! These Oaxaca pieces were from the house full of merchandise that I recently bought.
In addition, the sterling pieces from that same house brought in about $300. I will tell you that $475 will go quite far in paying off that initial investment!
See how much this one sold for–it sold for the most!
Now, let’s take a look at one part of the eBay announcement from Tuesday, 1/29/08. At first glance, I was not happy about the fee changes. So, I decided to do my due diligence and actually run the numbers. Always a smart move!
Thank goodness I have been using the eBay Sales Reports since November of 2007. They come free with Selling Manager Pro and you must go in and download the reports periodically or your subscription will expire.
So, I had two good months’ worth of data to analyze. I wouldn’t normally share my actual sales figures but I thought that in this case, it was extremely important. From my Excel spreadsheet shown below, here is what I learned.
My sell-through at auction is about 30%. On average, I sell about 50% from my eBay store and 50% at auction. That is much higher than I thought I was selling from my eBay store (check out my eBay Store Report here). In November I sold much more at auction (still plenty of time to get it shipped before Christmas) and in December I sold much more from my eBay store, over $6,700. Instant gratification, shipping, and arrival in time for gift giving!
Let me tell you that for the purposes of this analysis, I made some assumptions. I took out all the buy-it-now auction items (fixed price) listings and just focused on actual true auctions and store items. I also assumed that every auction item was listed at a starting bid price of $9.99 (true in 98% of all my listings). This made the listing fees 75 cents for each auction because I always use gallery. I listed 2011 items in that two-month period at auction. Remember, I was shooting for 200+ items per week. I did it!!!
I also assumed that every store item was listed at $9.99. I found that my average sales price (in my eBay store) for those two months was $10.80–right on the money!
|Fees over a two month period
|Online Auction Fees
|Final Value Fees
|eBay Store Fees
|Final Value Fees
You can see that this new fee structure definitely encourages us to list more at auction and in our stores. Fine with me because that has always been my strategy. You can’t sell it if it isn’t listed.
Notice how I would have saved over $800 in auction listing fees for those two months with the new fee schedule. Of course, I realize that eBay had a lot of sales in November and December for listing fees–and they must have realized that they were working–but for this analysis–I am going to assume no sales were happening. It has got to be apples to apples.
This $800 more makes up for the increase in final value fees. You can see that overall–my auction savings would have been $449 for those two months!!! This new schedule is going to be wonderful for encouraging us to list at auction.
Now, I wasn’t so sure about the new fee schedule and how it would affect our eBay stores. Because I have soooo many things listed in my store–I immediately save about $342.00 each month. This does cover the $290 increase in final value fees–netting me a $124 windfall in my store. If you don’t have as many things listed in your store as I do, the savings may not outweigh the costs. But, I think that if you combine the store loss that you may have with the gain from your auction listings–you will still come out ahead.
I did read today that Ina Steiner said that some eBay sellers’ fees will increase by 33%. That was definitely not the case for me. In fact, my overall fees will decrease by 15% and I would have saved $572 for November and December. Now that is not pocket change–that is serious money. AND this is without the extra incentive 5 to 15% discount on final listing fees for power sellers.
I can’t wait to see how this is going to affect my bottom line. I was paying eBay about 18% in listing and selling fees. This will drop to about 15% as you can see in the chart, and I am thrilled with that. Do keep in mind that I will pay another 3% or so to PayPal. However, 21% versus 18%. I will take the 18% and be very happy.
When I started out on eBay in 1999, I only paid eBay 7% in fees (there was no PayPal). So it would really have been closer to 10%. It has increased–but in almost ten years–not too much! AND When I think about having an open shop that along with that came theft, overhead, having to keep an open store, slow turnover (it could take 20 years for an item to sell), breakage, employee costs, time wasted chit-chatting, etc., etc. 18% sounds like a wonderful price to pay.
Our antique store.
My grandmother opened it in November of 1950 and we closed it on August 2nd, 2000.
Let’s all stand behind eBay and support them in this new price structure. They have given all of us a life that we couldn’t imagine beforehand. The American dream, entrepreneurship, and the fun of finding trash that turns to treasure online. I am not complaining and am supportive of this decision. I will wait to comment on the new PowerSeller requirements and the no negative feedback policy. But for now, I leave you happy and in the next two months at least $572 richer!!!!
Oh, and before I forget, If we have a 4.6% positive on the four feedback items (Item as described, communication, shipping time, and shipping & handling charges) we get a 5 % discount on final value fees–that would be an additional $110 savings for me. If we have a 4.8% positive on those same four items, it is a 15% discount–that would be $329 for me. Unfortunately, I think my positive percentage is 4.725. I think eBay needs to rethink those numbers and be a little more lenient on where they draw the discount percentages. But let’s just say I get to a 4.8%, I would have saved $901 during those two months. 24% savings in all fees and only 13.8% going to eBay. That $901 sounds like it would pay for a trip to Cabo and let me tell you…I NEED ONE!
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We are looking for your eBay success stories to share with our ezine readers and possibly make it into a book of our reader’s best eBay stories.
A big thanks to everyone who has already submitted a story! We are looking for more great stories of your eBay adventures. We know there are many great tales out there, so please submit your story along the lines of the stories from the 100 Best Books and a great side story with photos will help. If we use your story, you will receive a $35 merchandise credit on my website and you will have your story featured–along with your user ID–in my ezine! It may also eventually end up in a published book!
By the way, when I mention my ezine readers’ user IDs with links to their auctions–it actually helps their sales! Amazing how that works. Click here for the guidelines for submitting your stories.
eBay PowerSeller and third-generation antique dealer, Lynn Dralle, is the creator of Boot Camp in a Box, the home-study course where you can learn to implement the Dralle Method to maximize your eBay profits.
If you liked today’s issue, you’ll love this step-by-step course that is guaranteed to be the most complete and enjoyable guide to selling on eBay that MAKES YOU MONEY.
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