Monthly Archives: May 2017

eBay, Liquidation

Some Tips at How I List my Items on eBay

I had a great Friday night in sales.  After shipping, PayPal and eBay fees I made over $175 in profit.  While I usually do Buy It Now on eBay, it does provide some unpredictability when expecting to ship items.  My main channel of selling items is through eBay.  Here’s how I list my items on eBay

Some Tips at How I List Items on eBay

Tips for listing on eBay

  1.  Buy It Now. When you know the value of your product, or the price at which your comfortable to let it sell for.  This option provides some unpredictability when you’re expecting to sell stuff, but does allow multiple items to be listing and relisting is automatic if you set the timing to “Good until cancelled”.
  2.  Auctions. Rarely do I use auctions anymore as you have to continuously relist items when they do not sell.  Plus you use up all your free listings on this option.
    • I never list the starting price at $0.99.  I start the auctions at a price I’m willing to let them go for even if I only get one bid.  I also research prices that that item is currently listed for on eBay and try to list below the lowest listed.
  3.  Shipping. I have the best success when I list items with Free Shipping.  I feel buyers are attracted to auctions where shipping is free.  Sometimes I will add shipping when I’m not as concerned with an item selling, so if its sells even better.
  4. Returns. I also accept returns.  I feel that no matter what you select (no returns, 14 day returns or 30), eBay will always force the seller to accept a return no matter what.  So accept the return and resell it.  90% of the time my returned item sells very quickly.

Please reference my videos for more tips and tricks! at:

http://www.youtube.com/c/liquidationOH

Liquidation

Open All Items!

1 Comment

Test All Items – Don’t get LAZY!

You might find surprises you never dreamed of…

I wanted to give you some insight to my last auction unboxing from Liquidation.com.  Whenever I get new auctions I always make sure to go through every item.  In my latest box I received the item you see in the attached picture.  Well needless to say when I opened the SteamLink controller, it was a used, battered XBOX controller that most likely didn’t work.  If I didn’t do my due diligence and open and test items, I most likely would’ve been guaranteed a negative feedback on eBay.

  • Open All Items – Be sure to open all items and validate the exact item is in there, with cords, and instructions (not always needed).
  • Test Items – Test the item to the best of your capability.  If you can only test for power then do it.  If you can test for power AND functionality then DO IT.  The more you’re able to test the item, then the more money you’ll be able to get.
  • Learn – You will be getting items in your auctions you probably would never buy for yourself.  You will get familiar with products and how they work.  Its a learning experience.  If you’re really ambitious you might get into the world fixing items from beginner to expert. (I learned how to solder!
  • Similar Items – Sometimes I run into trouble if I use sell similar in my listings, I will inherit the version details of that listing.  If i’m not careful there might be a discrepency of the version listed verses what I actually have.  Pay attention to model numbers and items you’re including.  You don’t want it to say you have the charging cord when you do not have it!

Take the time to learn your items and provide the best possible inventory for your buyers.  The more time you put in, the more money you’ll make.

-Chris

eBay

How Do I Take Returns on eBay??

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How do I take returns from buyers on eBay?

When and How to do returns on eBay

As a seller on eBay you will eventually have to deal with returns.  I wanted to give you tips and tricks on how I handle them.  As a good seller its always best to offer returns.

How do I offer returns on eBay?

  • Buyer needs to request return on the listing
  • Once they request a return you will get an alert and/or email asking if you will accept.
  • The seller must go in and click one of many options, and some of them are as follows,
    • Offer return – once you click this you can send a prepaid label
    • Offer partial fee – seller gets to keep the item and will be reimbursed partially
    • Offer full refund – seller gets to keep the item
    • Reject
    • Message the buyer – I usually send a message any time there is a return to let the seller know that I am working with them to resolve the issue.  I feel a personal touch goes the extra mile in avoiding negative feedback.
  • Buyer remorse – this is where the buyer just didn’t want the item.  It is up to the buyer to pay for return postage.  If everything is explained about the item in the description that also falls under buyer remorse.  I have lot of buyers that never read the description and didn’t realize that there is something wrong with it.  In that case they pay for returns.  If you have any issues with the buyer not wanting to pay for postage then I would reach out to eBay support and verify that you are in the clear.
  • Damaged – If the item is damaged then I always offer returns and I will pay for the postage.  If its a very CHEAP item then I will tell the buyer he/she can keep it.  If its a more expensive item then I will pay for postage to return.  Usually in 90% of these returns you will be able to resell the item and recoup your shipping fee loss.  Also sometimes the item isn’t damaged and most of the time either you can coach the buyer on how to use the item and resell it when it gets back.
  • Buyer requests return but…. – Alot of times the buyer will request returns due to a multitude of reasons, but sometimes they disappear off the face of the earth.  If you’ve sent them a label through eBay and they haven’t used it, then you won’t be charged.  You shouldn’t be charged for the label unless the label is scanned on the return.
  • Negative Feedback – It is always in your best interest to message with the buyer at all costs.  I always make sure to offer the best customer service.  If I have any questions on if I will be covered by eBay I usually call them and explain the situation.  I always double check on if they will back up my case given the circumstances.

Special Tip:  Sometimes the buyer will message you asking for a partial refund due to certain issues.  If you feel that the buyer is trying to get money back I do a couple of things.  If the buyer says there is an issue with the item then request that they send you pictures of the item through eBay’s messaging system.  This will usually scare enough of them away.  In most cases they are honest buyers and will show you issues that they can live with.  If that is the case then I will gladly send them a percentage off of the total cost.  A partial refund is almost always better than getting the item returned and trying to resell it.  Other times if I feel like the buyer is trying to get the item for free, otherwise know of manipulating the system to hold your feedback ransom while getting what they want.  I will only off the buyer to send back the item for a full refund.  I would rather eat the return cost then allow the buyer to keep the item for free.

What are some ways that you deal with buyers and their returns?

-Chris
Liquidation@gmail.com

Want to learn step by step on how to get into the wholesale liquidation business?  Follow the link below for the all encompassing book!
http://bit.ly/LiquidatorsGuide2017

Liquidation

Liquidation Types and What to Expect!

What am I buying???

Explanation of type of liquidated products

I see a lot of questions online about types of liquidated merchandise.  If you do not understand what you are buying you won’t receive the product you’re expecting and will probably be unhappy.  When you are looking at auctions you want to understand exactly what you are getting.  You are putting a lot of money on the table so let’s understand what we are getting into.

I mainly stick to returned items as I know 80-90% of the items will be in working condition or probably brand new.  If items are defective I usually try to fix them, or I will sell them as broken.

Definition Source: www.liquidation.com

New

  • New assets are in original packaging and possess all of the characteristics, qualities and features as advertised by the manufacturer.
  • Traditionally, they are overstock items that were never offered for sale in a retail environment or used in any way.

Refurbished

  • Refurbished assets are used, but have been inspected, tested and restored to fully working condition. They rarely come in their original packaging and seldom contain any documentation or any additional parts and/or accessories.
  • Due to their operational history, refurbished assets possess noticeable cosmetic defects and/or blemishes, including but not limited to dents, scratches and signs of age.

Returns

  • Returned merchandise were assets sold to a customer, who then either physically brought the item back to a store or mailed it to a specified location. Reasons for returning a product may not have any correlation to its utility (i.e., size, color, model, etc.), and as a result may be in fine working order.
  • The majority of returns, however, do have some operational and/or cosmetic problems. Depending on a company’s return policy, these items may also reflect a measurable amount of use. In addition, since most of these items are sent through a reverse supply chain (e.g. from a customer back to a store or a centralized warehouse), they can show signs of further handling.
  • They generally do not come in their original packaging and often do not have any of the advertised documentation or additional parts and/or accessories. Accordingly, returns can exhibit a wide range of individual product and package conditions that can differ substantially from the original manufacturing.

Shelf Pulls

  • Shelf pulls were assets previously available for sale in a retail environment, but were never sold. They usually possess one or more price tags and/or stickers, indicating multiple markdowns and have been exposed to appreciable customer contact.
  • In addition, since most of these items are sent through a reverse supply chain (e.g. from a retailer back to a centralized warehouse), they can show signs of further handling. Accordingly, Shelf Pulls may exhibit a wide range of individual product and package conditions that can differ substantially from the original manufacturing.

Used

  • Used assets were previously sold, put into use and possess noticeable cosmetic defects and blemishes, including but not limited to dent, scratches and signs of age. Since these assets are usually pulled from a working environment, they rarely come in their original packaging and rarely contain any documentation, additional parts and/or accessories. They are minimally tested to meet the basic requirements of functionality, and therefore may not be in optimal working condition as they may require additional maintenance and repair.

Salvage

  • Salvage assets have been identified as defective for reasons concerning their functionality, appearance or both. Salvage assets usually can only be used for parts and are therefore recommended for professional buyers specialized in repairs or resale parts.

Please do your research as you’re buying these items, so you could turn your hard earned cash into profits!

-Chris
LiquidationOH@gmail.com

eBay, Shipping

What Shipping Supplies do I Use?

Shipping Supplies

How to use the most effective methods for shipping items sold on eBay

I wanted to share with you how I manage my shipping expenses through choosing the correct method of shipment to choosing the most effective shipping supplies.  Keep in mind this is how I currently do it, but there may be more efficient methods.  Please let me know if there is something I could be doing better.  Currently the items I buy and resell on eBay are bought in bulk from Liquidation.com

I currently buy all my shipping supplies from amazon.  I buy packing tape and padded mailers in bulk from amazon.  I save all boxes that I get when I order items for myself.  I also save a lot of money on tape and inkjet ink using my Dymo 450 thermal ink printer.  You can purchase the same items I use on my shipping page at http://www.liquidationOH.com/shipping.

Process:  I always weigh my own items and print my own labels from eBay.  If an item surpasses 16 ounces, then I will mostly likely ship it priority.  If I have to ship it priority then I will weigh the item, and price out both the flat rate mailers/boxes and compare to regular priority.  I’ve saved a few bucks here and there but those add up when you’re shipping out 75 items a month

First Class rate:  You can use this option when your item weighs 16 ounces or less.

Padded bubble mailers – I buy my padded mailers in bulk from amazon.  They come in packs of 100 and measure 14.5 x 9.5 inches.  I find that the majority of my products are able to fit in these mailers.  These average about $0.23 per mailer.  These are invaluable not only in price but also saving me time.

Packing tape – I buy my tape in bulk from amazon as well and the come in packs of 6 (shown on my other page).  These last me a long time and are very durable.  Now that I use my label printer, I don’t nearly buy as much packing tape to attach my mailing labels to my mailers.

12 x 10 x 8 boxes – I buy these boxes in groups of 25 from amazon.  These are great as they almost never exceed the measure requirements for pushing mail into the next bracket due to oversize requirements.

Priority Mailing Boxes – I ALWAYS keep the medium square and rectangle boxes on hand.  Any time I price out a box that is over 1 pound in the priority mailing class, I make sure it falls below $11.  If it happens to cost over $11, then I will probably mail it in a flat rate box.  These are definitely key to keep in your shipping supply arsenal.

Grocery Paper Bags – This is a great tip that I continue to use.  If you get any paper bags from the grocery store then save them.  They are great to cut and wrap your boxes up if those items won’t fit in a box and are sturdy enough to be mailed solo.  If the box is going to be wrapped with this paper, its good to use to protect against scuffing.

Bubble Wrap/Packing Paper – I always save the packing paper from the liquidation.com auctions.  This paper is great for protecting your own items from shipping out.  I also save all the bubble wrap from shipments that I receive from amazon.

What do you use to cut down on your shipping expenses??

-Chris
LiquidationOH@gmail.com

Liquidation

How do I choose what items do I buy and resell from Liquidation.com?

How do I choose what items do I buy and resell from Liquidation.com?

What to choose?

I get tons of questions of how do you know what to buy and resell.  Many people want to get started in the liquidation business but have no idea of what they want to get into.  They continuously hunt for the hot items or the items they think will get them the most return on their money.  While that may work for a little bit or it may work a lot for some, I don’t always agree.  My answer to that question is what is your passion?

For myself I chose electronics and tools as those are items I not only love to buy, but I love to use them.  I tend to stay up to date on the newest items coming out and what to look for.  I also use these products everyday and research them.  Maybe you love to cook or are a sneaker head.  You too will understand the newest items and will have an acute sense of how to use items and which ones to look for…or which ones to avoid.

  • Passion – If you find something you love to buy and sell I fell if makes it more enjoyable for you.  You will always know more about the products and what is hot or not.  If you buy something just for the money, you will not be as interested in understanding its market value.
  • Hot or Not – If you don’t buy products you have some vested interest in then you might not understand the ebb and flow of their resell value.  If I didn’t understand electronics and someone was selling a large load of an outdated item, I might be in for a rude awakening.
  • Knowledge – If I buy items that I continuously inspect and have a keen understanding of how they work then I will be handy with them.  What I mean is that as you know more than likely you will come across many products that are broken or missing parts.  If you know how they work you will have the ability to fix them, and gain a new skill potentially.  For example I taught myself how to solder so I can repair some of the items I get.  Youtube has also been my friend as I learn how to tear down items quickly and carefully to fix them.

Those are some of the tips I used when selecting which products to look for on liquidation.com.  These help me select auctions that will make me money verses which auctions I can let the next person lose money on!

-Chris
LiquidationOH@gmail.com

Want to buy a book that teaches you the business of liquidation and wholesale?
http://bit.ly/LiquidatorsGuide2017

eBay

So You Want to Open an eBay Store?

So you want to start an eBay store?

When should you start an eBay store?

When I first started selling on eBay, I was awarded 50 free auction listings a month.  Keep in mind for those starting out now, your free auctions amounts might be different.  There are also selling limits for each buyer.  Starting out that was awesome for me as I never approached the 50 item selling threshold. On top of that if I listed items as a Buy It Now I was getting charged a $0.20 per listing.  I started out selling auctions that would only sell with auctions.  When I started buying liquidation items, I frequently surpassed the 50 item auction limit and auctions weren’t the greatest option.   So thats when I started to question if I was losing money on listing fees.

Listing fees become an issue if you’re listing more than 50 auctions a month (or what ever your current threshold is for free listings), and if you’re keen on Buy It Now auctions.  When you start a store, Buy It Now auctions are included in your “free” listing quota.  If you’re listing a ton of items it makes sense to start a store.

My first tip is to use eBay’s store fee calculator which is located here: http://www.fees.ebay.com/feeweb/feeillustrator

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For me the Basic Store was the best option.  I am now able to list 250 items per month for “free”.  I get charged a $24.99 (I believe you can pay 12 months up front and it works out to be $19.99) fee per month.  If I didn’t have a store I would definitely lose money on my listings as I’ve increased my purchases.  The calculator will give you an idea of how much money you can save if you increase the number of listings per month.

Keep in mind every month you get get those 250 free BIN listings free a month, but that ALSO INCLUDES YOUR RELISTED LISTINGS for items that didn’t sell.  So if you have a ton of rollover every month then your free insertions will be eaten up pretty quickly.  You either have to make the decision to end those auctions, or do something to try and get it to sell.

My next step is figuring out if I need to increase to the Premium store as I increase my listing frequency.  As I buy more and more frequently from Liqudation.com my limits are getting eaten up pretty quickly.

Investing in the eBay store option definitely has paid for itself!

-Chris
LiquidationOH@gmail.com

Shipping

What Shipping Option Do I Use?

Shipping Options through USPS (Cost Effective)

There are so many choices – what do I do??

If you’re new to eBay shipping if can be overwhelming.  There are many things probably floating through your head such as “Am I picking the right service?”, or “Am I paying too much??”  If you’re not careful shipping can quickly eat away your profits from reselling.  As you are listing items make a mental note of how heavy the item feels, or weigh it.  This will give you an idea of how much you’ll be willing to sell it for as well as if you’ll offer free shipping or not.  These are a few items to consider in which I dive into below.  Keep in mind these options of efficient for COST and NOT SPEED.

  • Weight – If you’re getting into the reselling business its almost imperative you have a scale.  When you are beginning, I would recommend you weigh every item you list.  If you are going to be sticking to the same type of items you’ll get a grasp how the weight of each item and your expected shipping costs.
  • Buyer vs. Seller Burdened Costs – What is the best option for WHO pays for the shipping.  Personally it always feels better when I buy things when shipping is free.  I always offer free shipping on my auctions and “buy it nows”, but I try to account for the shipping within the listing sell price if I can.  If you’re looking for a set amount and are willing to potentially sit on an item for awhile, then build the cost into you auction.  DO WHAT FITS BEST IN YOUR PROFIT MODEL!  Don’t list a listing with Free Shipping and lose money!
  • Priority vs. First Class – eBay gives me the ability to ship items using the First Class service offering for weights up to and including 16 ounces.  ALWAYS ROUND UP.  If the item weighs 16.5 ounces then I would not ship first class.  When you ship priority the price of shipping jumps a lot.  My recommendation is if you jump into the Priority bucket then always price out a flat rate box option (if the item fits) to validate that you have the most cost effective option.  I found this image floating around online.

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#Secret Tip – You can order flat rate boxes and envelopes online at USPS for FREE!  But its important that you use the supplies as intended and not as packing materials in a random box.  I will dive into this in another post, but Regional Flat rate boxes will save you a ton of money if used correctly.

I hope my tips can help you save some money on your shipping costs!

-Chris

LiquidationOH@gmail.com

eBay

eBay Partial Refunds Verses Full Refunds

Full Refunds Vs. Partial Refunds

What is the process on when and how to offer partial verses full refunds??

I see a lot of noise online about what is the process for refunds when selling on eBay.  I wanted to give you some insight onto how I look at and handle returns.  There are instances where I will offer a partial refund or I will offer a full refund.  The main point is to offer the best customer service possible.  I always offer a return policy as not only does it offer comfort to the buyer, but more than likely the buyer will find a way to return the item if they want too.  Keep in mind if the sale is within 45 days and buyer claims there is an issue, most of the time eBay will require you to take the refund.  When in doubt, call eBay and explain your case.

PartialRefund

Partial Refunds

I offer partial refunds as a first option when I more than likely do not want to take a return (if item is working), and based on what the buyer says they more than likely want the item anyways.  I will not offer a partial refund if the item is defective, item is under a certain price point, or the buyer thinks its not as described (even though it is).  Here are the instances where I start with a partial refund,

  • Item is heavy as I don’t want to eat the shipping costs of returning it
  • Item is still functional
  • Buyer hasn’t completely stated they don’t want the item.  There is still some inkling in their voice they want it
  • Item is expensive and I can handle a partial profit loss while still keeping the customer happy

If a partial refund is rejected or not offered based on how I feel they are requesting a return then I will offer full refunds.

FullRefund

Full Refunds

I offer full refunds in most all cases.  Usually I can take the item back and resell it, so most of the time I’m out the shipping cost for both ways on the original sale.  Refunds are part of the game of selling, but its how you handle them to minimize their impact.  Here are the instances where I offer full refunds,

  • Buyer clearly states they don’t want it
  • Buyer opens an Item Not As Described (INAD) case for a return
  • Item can be sold as soon as I get it on return
  • Appears buyer isn’t using the item correctly even after coaching
  • If I feel the buyer is fishing for a partial refund.  This forces the buyer to return the item prior to full refund.

NEVER FULLY REFUND THE BUYER UNTIL YOU GET THE ITEM IN YOUR POSSESSION!

Secret Return Tip: I will offer full refunds on items if they’re not functional, but I won’t offer them to return the item if they are below $9.  For me, if the item is broken, I more than likely will lose money on the return shipping.  Its easier for me to eat the loss than pay for return shipping.

noRefund

No Refunds

Here are the only times I will not offer refunds,

  • Buyer tries to return an item after 45 days
  • Buyer breaks the item or uses it in correctly per their messages.  In these instances I will call eBay and explain the situation.  In most all cases where this has happened eBay as stated they would back me and refute any negative feedback should any issues arise.

Buyer Pays Return Shipping

In all cases, I will make the buyer pay for return shipping in the following scenarios,

  • Buyer states they don’t want the item
  • If buyer is outside the return window and item is still functioning
  • They threaten negative feedback
  • Buyer claims item isn’t described, but description clearly states what buyer is refuting.  An example of this is when I state item is “For Parts or Not Working”, and buyer states he wants to return as the item isn’t functioning.

In all cases, I treat the buyer with respect and hear them out.  It works out better for all parties if you treat everyone with respect and understand what they are saying!

When in doubt, call eBay support, explain your case and understand your options!

-Chris
LiquidationOH@gmail.com

Liquidation

How I Buy Auctions from Liquidation.com

Why buy auctions from Liquidation.com?

LiqTitle

www.Liquidation.com is a great website to source products from

I use liquidation.com to source all of my products currently for selling online.  I go to their website daily to look for auctions on two categories that I love.   You do not need a business license or special privileges to bid on their auctions.  Depending on the state, you might need to submit sales tax, but their website will explain which states. I keep track of the auctions through their watchlist feature.  I want to walk you through how their website works.

LiqHeader

  • eBay – Their auctions function a little like eBay’s auctions work.  You find the auctions you want and click into them.  You then submit a price that you’re willing to pay for the auction in the bid field.  Keep in mind this is for product cost only.

BidScreen

  • Auction Costs – The other costs include shipping and buyers premium.  Buyers premium for any auction i’ve seen is 8%.  BEFORE you bid make sure to get a shipping quote.  You can click on shipping options below and click “get a quote”.  All you have to do is put in your address and if its a residential or business address.

COSTS INCLUDE THE FOLLOWING

Bid price + Buyers Premium + Shipping Cost.  In some states you’ll have tax added on.

  • Multiple Auction Shipping Costs – If you win multiple auctions you will have the ability to consolidate shipping costs.  I will call them and ask what my options are for lowered shipping costs.  Only if my auction shipping costs are higher than the minimums will I call and get consolidated shipping.  For me the minimums currently are $40 from Indiana and $86 from Vegas (I’m currently in Ohio).
  • Auction Sniping – Sniping auctions does not exist with liquidation.com auctions.  If you bid within the last 5 minutes of the auction ending then the auction will extend out 5 minutes.  There are some tips I use here.  I will wait until the auction is close to closing until I bid on items as if I bid too early then I just drive the price of the auction up.
  • Why? – I have tremendous success with auctions from Liquidation.com.  They are a great company to work with and supply great products.  Their manifests have matched against everything Ive purchased from them.  I know exactly what I’m bidding on and the quality I expect. ALWAYS check the manifests to validate what you’re getting.  Keep in mind there is some risk with purchasing “returns” as there will be some items that don’t work.  I have always been able to recoup my costs.

Secret Tip: Make sure their MSRP values match against the market value at the time.  Take the first few high priced items in your manifest and validate them in eBay.  There have been some times where their value doesn’t match against what they’re actually worth.

What are some concerns you may have in purchasing liquidation items?

My next blog will go through how I search for items and what I do to sell them.

-Chris

LiquidationOH@gmail.com