So you’ve been thinking about trying liquidation.com. Here is your chance to enter to win one your choice of 3 types codes. The winner will be picked this Friday on 6/22/2018 on the live show on YouTube.
Winner will have a choice of one of the following
discount to the auction of $20
discount to the auction of 10%
$40 off shipping
All you have to do is email me with the answers to the questions below. All who answer the bottom questions below will be entered in the drawing.
Q: What are the costs of an auction on Liquidation.com? (looking for 3 types)
Q: What auction formats can you see on Liquidation.com? (looking for 4 types)
Another month has closed and a new one has opened. With a new month means new goals. Along with my goals I like to include all of your goals. If you want to be added to the list please comment below! Every month I try to outdo the previous month with either more numbers or better processes. In addition to increasing the frequency, I like to have some subjective goals. I like to have items where I feel like I’m growing my business month to month. Including all your goals with mine holds myself accountable. Plus I like to go back and see what my old goals were. So lets get into the goals!
Kathyrn Domer – 416 listings currently to get to 500
Redneckerson – currently sold 275 items wants to get to $6,500 in sales
Donna Wester – 318 listings currently to get to 350
LizzAnns Finds – 18 listings currently to get to 50
Charlotte – wants to get to 400 listings
Charlie – wants to get to $5K in revenue
Scott L – wants to get to 80 listings
Liquidation King LA – wants to get to 250 listings on Mercari, 500 listings on eBay, and source 100 items
Tanja – wants to get to 200 listings
If I missed your goals please reach out and I can add them above. Let get to the next level!
I like setting goals because they hold me accountable. I also like adding to my goals to change it up. Adding to my goals always me to find new ways to do things or grow myself in my business. For example I’ve starting to add revenue to my goal setting as it allows me to do more to make more profit.
Here are my goals for this month.
List at least 1 Mercari Item per day
Get up to 875 active listings on eBay. I’m starting with 800 for the month.
Revenue of $2,500 for the month
Added Goal: Lower one long listed item per day to get it to sell.
Non Selling Goal: Walk the dog at least 3 times a week.
I’ve added a non selling goal to help create more of a schedule for me to adhere to. Plus it will allow me to get out with the dog and get some exercise during the week!
Here are some goals set out from all of the views on YouTube.
Michigan Girl – 500 active listings
Kathryn – currently 365 to go to 450 listings
Scott Lindey – currently 160 to get to 250 active listings
Charlotte – wants to get to 800 listings
Ebizzy Chris – currently at 320 to get to 500 listings
Donna Wester – wants to get to 400 active listings
Packman – wants to get to 800 active listings and 7500 revenue
Scott L – currently at 119 and wants to get to 200
Redneckerson – currently at 690 and wants to get to 850 listings
DarrinAdams – wants to get to 300 listings
Diesel Engine – currently at 51 wants to get to 70 listings
Andi Patrotic – currently at 994 wants to get to 1200 listings
Goals are defined as the following: the object of a person’s ambition or effort; an aim or desired result.
I find setting goals in your business is a great way to not only allow you to grow, but it also holds you accountable. When you write your goals down, it forces you to look at it and question why you’ve not hit it yet or why you hit it too quickly! You want to make goals so that they are attainable but not too easy. I find I thrive more when I set a couple of goals that I know are attainable but to also set goals that might be a little more lofty. I call these stretch goals.
A simple goal that I might set for myself in a single month is to list 5 items a night. A stretch goal for me might be to have $5,000 in sales. Given my historical monthly sales numbers I see that I haven’t hit $5K in a single month yet, so setting something a little higher will force me to make some changes in my process to try and hit it. It is a goal that force me to think outside the box
Stretch Goal is defined as the following: A goal that cannot be achieved by incremental or small improvements but require extending oneself to the limit to be actualized. Expressed in the saying, “You cannot cross a chasm in two steps.”
The first step to achieving success is staring your obstacles in the face. In my video below, I challenged everyone to set a goal for the month of March. If you want to join this challenge of holding yourself accountable please comment below or message me and I can add you to the list. Once march is over we will review and see what we could have done differently or if we hit it or hit it too easily we will want to know what we did to make it happen!
Here is everyone who joined!
Me: Listing goal of 800 active listings, and $2500 profit
Charlotte: 800 listings
SoGitThisFlips: move from 150 listings to 175
Kathryn: 300 listings
Patriotic: 1200 listings and $2000 sales
Arizona Hustle: move from 104 to 250 listings
Sandi: 0 to 100 listings
BigGuy: 60 to 100 listings
Gail: 297 listings to 400
Ajayi: 60 listings to 150
Debra: wants to max out listings at 30
Lets knock these out together! Looking forward to the March review show!
Here is the first post in the new liquidated item series. I want to pick a new product each time and review with you different things to look out for before you purchase as well as what to do if you get the item. I would like to run this in conjunction with my video series on Youtube. Keep in mind these are from my own experiences. If you have different ways you do things or something to add feel free to comment below!
Before Purchasing:
I really look for Mohu Leaf products if i’m going to look at HDTV antennas. I find that this model sells really well and price will depend on the specific mileage range units. I’ve seen a 25 mile one and a 50 mile one. Here’s an example of one below.
Keep in mind they come with multiple pieces (listed below), so you may be missing some if you’re expecting them in a liquidation lot. Also the actual antenna is a thin plastic sheet, so sometimes they corners could be cracked or missing. Some of the models have sticky velcro pads that can stick to the wall which also could be missing.
Items possibly in the box:
Flat plastic antenna sheet
Coaxialcable
Wall Plug – some units require extra power
Velcro stickers to put on the wall to hold it up
Pushpins into sheetrock – some have this
(You can always validate which items come in your unit by looking up that same antenna on Amazon, etc. to make sure you have everything)
After Purchase:
Once you get them in the box usually they come in the retail packaging with is nice. Some of the items listed above are pretty small, so make sure to check in your box if they fell out. Other times they just put the items in a big poly bag. Make sure to take everything out and make sure the plastic antenna didn’t crack.
Testing:
This is the most important part of your journey to reselling. It took me a little bit to figure out how these work. Hook everything up such as the coaxial, dc plug if available, and hold the antenna up high if you can preferably near a window. Once plugged into your TV you will need to change the source to “Cable”. Now here is the tricky part. I had to go into my tv settings and change the antenna settings. Once this is changed to match the HDTV antenna, your TV might need to do a scan to receive your channels. Once the scan is over you should start getting a signal.
Listing:
I usually list my units on eBay. Double check the comps and determine based on the pieces you have what a good price is. usually for the 50 miler I get around $50, and the 25 miler I get around $25 all with free shipping. Given when you list yours the comps may be different.
Stay tuned as I will be putting more of these item reviews up so you can not only make better liquidation purchases, but come to better understand your products!
Do you want to have help sourcing products? Do you find items in the stores to resell in your store but only find a few of them? Do you want more of them to sell? Would you be ecstatic if you could get more of those new items without lifting more than you finger? If you answered yes to any of those questions then Sourcing Fanatics might be for you!
They currently operate in Canada only (with buildings in Vancouver and Calgary). They are in the process of expanding and are slated to open US operations with a pilot program in November of 2017.
I just interviewed Dan Ryan from Source Fanatics (you can catch video below). His company specialize in wholesale and finding inventory that you ask for! He has access to a wide range of shoppers to by your products and consolidates them all to ship to you. They can access products that you specifically request through the following channels: wholesale, retail in-store and online. They have shoppers on the ready to source product online and in retail stores, and they have direct access to wholesalers to get you product as well.
Visit their website for more information: SourceFanatics.com
Join their Facebook group for immediate access to their wholesale lots that they periodically post. You can purchase these lots without any additional subscriber or lot fees listed below.
Source Fanatics eliminates the challenges of sourcing inventory so that you can dedicate time to growing your business. Our community of buyers across the country source product for you at retail (in-store or online) while our dedicated and handpicked wholesalers are ready to sell directly to you.
Here’s how it works. For access to his handpicked shoppers you will need to do the following
Subscribe to the service for $100/month. This is a month to month fee and you can cancel at any time.
Unit Cost – You will need to pay upfront (PayPal) for the total unit cost of the items. This is for the acquisition cost of the items.
Shipping – Once the items are available you will need to pay for shipping which is either arranged by Source Fanatics or you can arrange your own shipping.
PPF – This is the Product Purchase Fee which is negotiated prior to buying the items. This fee is determined based on multiple factors such as difficulty to acquire the items, how many shoppers are used, etc.
They require a minimum retail cost order of $500 (excluding shipping and PPF). I can see the immediate value in using this service as depending on your operation, this instantly scales it up. You have a whole network of people buying product instead of just you. The best point is that this product is completely brand new in box which instantly eliminates testing or using your valuable time to make sure the product is salable. Once you get this product you either instantly sell it locally, list it on eBay or push it on to FBA!
As they understand buyer and shopper behaviors, they are massaging their process, price points and operations. At any time something will change as they refine operations and understand what works best for everyone.
Once they expand into the US I look forward to bringing you my journey into new channels to source product. I would love to use the power of the Source Fanatics buyer community to scale my business.
I’ve been purchasing liquidated items for over a year and a half now and I’m not an expert by any means. But the process I have developed helps me get the best product at the best price from Liquidation.com.
Same Seller: Find a seller that works for you. You can discover them from trying new ones out of the blue or discussions with current resellers. I find out a lot of my tips and tricks through my own trial and error, but also through a large Facebook group that I have formed relationships with resellers and liquidators. You can visit their group here.
Make a List of Products: Once you start to get the hang of reselling then try and stick to the same items that do well. I have started a running list of products that I intentionally comb through manifests to find. Once I find these manifests I add the auctions to my wishlist. I then look up other other high priced items on the list to gauge profit.
Homework: Make sure you put in your homework and comb the manifest prior to bidding and check your shipping costs. I take the top 10 or so items and look up their value on eBay. I look at what they are actually selling for, not what they’re listed at or what their MSRP is. Ultimately their value is only as good as what they are selling for. To understand your net profit then before bidding make sure to quote your shipping cost so you know what your total cost is all and what you can expect to sell your items for.
Gut Check: Keep your wits about you when you’re bidding. Don’t let the thrill of bidding and getting new product keep you hooked into bidding. If the bidding gets too high, meaning it gets over what you think your profit could be on that total auction then let it go. There will always be similar auctions with similar products.
The only secret is doing your homework and networking. It will not guarantee that you will make money but it will increase your odds of winning. You will make as much as the effort you put back into this process.
-Chris
LiquidationOH@gmail.com
Want to follow my day to day? Please subscribe to my YouTube channel and follow along!
As a seller on eBay you will run across a time when you will need to cancel an order that either a buyer won or used a Buy It Now. There are many reasons why an order would need to be cancelled. Here are some reasons why orders have been cancelled in my experiences
Buyer wanted to cancel because they bought it in error or they didn’t read the full description (where I sell items for parts or not working)
Shipping is incorrect and buyer wants me to change the address. DO NOT edit the address on the label purchase screen. If you edit the address you forfeit your seller protection
You are out of stock or item is damaged (seller defect). Use this rule as a seller will give you a defect. If you fall below 0.50% then you will lose Top Rated Seller, and I’m assuming if you get enough of them eBay could step in on your selling account status.
Seller doesn’t pay for their item after their auction, and a case is opened for unpaid item.
Buyer Requests Cancel:
For issues where buyer simply wants to cancel an order I always first request that the buyer cancel from their side. You should have the ability to go into the listing and cancel it if its shortly after they’ve purchased the item. If they cannot do it then I will go into the sold screen on eBay and cancel it. Be sure to click “Buyer request for cancel” so that you do not get a defect on your account. This will usually issue an immediate refund through PayPal. I believe you will lose $0.30 per cancel from PayPal for the transaction.
Address is Incorrect:
Again make sure you select the right reason when you cancel this order type. If the buyer requests that you change their address on the label then make sure you ask the buyer to cancel and rebuy the item with the correct address. They must make the edit in PayPal before completing the transition. If you edit it yourself and the buyer opens a case you will be fighting an uphill battle. eBay will most likely refund the buyer and you’ll be out of the item!
Out of Stock:
If you are out of stock then you will be hit with a defect. Understandably eBay will give you a defect because they want sellers to know their purchase will be fulfilled. I always check my listings to validate that what I have listed is what I have in stock. Sometimes I have seen that I will have duplicated listings and I can go in and end the listing. As you grow your number of listings, I can see this happening. Sometimes I will get a hiccup in the system or something will glitch out and I will duplicate listings. Go in and look at your store every so often to make sure what is listed is what you have in stock.
Tip: If you relist and listing that had multiple quantities, then that relist will also pull in that same multiple quantities. Make sure to edit this number so you’re listing doesn’t have more than you physically have!
Unpaid Case:
If you setup auto unpaid case opening for unpaid auctions then this will not impact you as much in terms of cancelling an order. If you do not have it open automatically for you, then you will have to open a case manually, and then manually close it after a certain time period. Once the case is closed your item should be auto posted again. In all cases make sure you check that the listing is reposted.
Sometimes I have heard some strange stories at why people want their order cancelled. Probably the most infamous and most frequent is that “so and so” took my phone and ordered it. The only inconvenience is that if you had watchers on your listing then it will take awhile to get that back. I always feel that it hurts the chances of my item selling and extended it from selling. What are some of your strangest stories on why a buyer wants to cancel an order?
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As I have been listing items the last few days I wanted to share some tips that have been working for me. Also something I’ve started doing with my slow moving inventory.
Slow Moving Inventory ($0.99 auction):
When I first open my liquidation.com box I usually list the top selling items immediately and move on to the next box. Then there becomes a backlog of lower priced items that sit around for awhile. These items sit because I get other lots coming in and I’ve already made my money on the box. Here’s what I’ve started to do moving the slow items. I will move these items as $0.99 starting auctions, but the key is to cover your shipping cost. I will not do free shipping but start the auction at $0.99. Even if I make minimal amount on the item, then its better than it sitting in my basement making $0. Two take aways:
Start Auction on slow items only when you’ve made your money on the lot. Start them at $0.99
Cover your shipping cost on these items. DO NOT DO FREE SHIPPING.
These type of auctions also work for items that do not work (condition: for parts not working).
Listing Daily:
I’ve had great success listing items daily. I try to at least list one item a night. Now don’t get me wrong listing more than 1 is great, but getting in the habit of something every day works wonders. I’ve heard rumors of listing daily gets you better search results for buyers, but I’m not so sure. I usually sell between 2 to 8 items daily. My current goal is to get 400 active listings, so I need to list more than I sell. Plus having more listings allow for more sales! Increase your probability of a sale!
Bundling Lower Priced Items:
Not only listing lower priced items as a $0.99 cent auction is good, but if you continuously get the same lower priced why not sell them as a bundle? My recent example is iWatch bands that I get a ton of in my boxes. When I look online I see bands going for anywhere between $4 and $7 depending on the band. If I were to list each one individually it would consume all my free listings, and my time. I’ve already made my money on these lots so netting $3 profit is not worth it assuming they’d even sell! So I bulk listed all 40 bands for a buy it now listing of $50. It sold within the week! This is a greater bang for my time and my listings. This also works for electronic items that are defective. I have three defective PlayStation 4 headset units that I’ve bundled together. People will buy broken items to fix and resell. Instead of throwing them away I will make some money on them and get them out of my inventory. But make sure to calculate shipping and your fees correctly to not lose money!
Lastly if you haven’t seen my latest video please check it out. I’m interested in learning on how you handle local sales and how you’ve achieved success if any with them.
Keep listing and innovate how you sell your items. There is money in everything!
If you’ve ever sold on eBay for any period of time you have probably come across some interesting cases. There are many signs that give away scams. These can appear in many forms such as messages, miss typed addresses, delayed payments and cancelled auctions to name a few. I wanted to add a series to my blog to bring some insight on how scammers are trying to exploit sellers. I want to give you some tips on what to look for and how to react.
Most recently one example I encountered was someone with zero feedback purchased something and immediately sent me a message after purchase. All of my Buy It Now auctions require immediate payment. And don’t get me wrong ,all new eBay buyers with zero feedback have to start out somewhere so I’m not knocking the zero feedback. Some indicators from his purchase raised flags immediately and zero feedback was one of them.
Zero Feedback with account opened in last few days: Everyone has to start from zero, but sometimes certain indicators will show to be a scam. I personally lookout for weird usernames with zero feedback that were just opened. If the username also has the issues below the BE ALERT!
Weird Addresses: The way this person’s address was written usually has the word freight forwarder written all over it. This means the buyer pays a US based company a small fee for the item to be “forwarded” to their out of the country address. I ship the item to a US address and if there were to be a return I can only provide a return label from that US address. Usually in this case the buyer would have to eat the return costs. In this case, if the buyer complains about the item and admits they are not based at the address that you shipped to then you are covered by eBay. Call eBay immediately and they will cover you. Stay on the lookout for US addresses with letters after the street name such as (i.e. EC-12113).
Usually this means your item is leaving the country.
Weird Messages: If the buyer sends messages after purchase saying they need the item immediately due to (insert excuse here) a multitude of reasons it could raise flags especially combined with the above issues. Sometimes these requests are legit but always be on your toes if something doesn’t seem right.
Payment Methods: Most sellers will use PayPal and pay immediately. Once they pay it immediately deposits into your PayPal account. Sometimes though the payment is in a held status. From my experience when someone pays with their debit card or using their bank checking account as their payment method it takes awhile for the payment to clear. Now not everyone who pays with their bank account is trying to scam you, but the messages that they send you could lead to one. In this instance in the picture below, the payment was still pending and the buyer sent me a message saying to ship the product right away for his son’s birthday. I responded and told the buyer I was waiting for payment to clear prior to shipping. Now if I shipped the item immediately the buyer could suspend payment and I would be out of money and out of the unit should I have shipped early (photo: payment pending)
These a some of the signs I look for when answering questions or evaluating buyers after their purchase. Please follow along so you can see some of the potential scams I may encounter and how I vet them out.
