All posts by LiquidationOH

eBay, Liquidation

End of Summer Slowdown? Focus on the Small Items!

As I review August 2017 sales numbers, I can’t help but think where did all the sales go?!  Earlier in the summer I was selling anywhere between 5 to 10 items a night.  Now I’m selling between 1 and 3 items a night on average.  Now my dilemma is how do I handle this turn in sales?

Now here is a little history on my journey into liquidation in liquidation.  I learned about liquidation through a newspaper at about someone who bought liquidated cell phone cases.  The kicker was that he eventually went full time in it.  Now how could he do this?!  This intrigued me as I have been into part time reselling on eBay since 2003, but I only sold items around the house and the occasional flip from goodwill.  The idea of getting store return merchandise to sell in bulk was very interesting! And now here I am only 1.5 years into it, so I’m still learning.  I will save the full story for another post!

My dwindling sales have led me to a couple of issues both good and bad!  Let’s begin with the good.

Good Issues:
Listing Inventory and Creating Sales:

The downturn in sales have given me more time to list instead of ship.  I have been going through all my merchandise and making sure it’s listed to sell.  I also am able to run more sales so to entice more buyers.  Creating these sales has enabled me to blowout some old inventory to create room for new inventory but I haven’t been buying as much as I used to at the moment.

I’m able to put more of my focus on the smaller value items and get them listed.  Usually I concentrate only on the high value items in the lot, sell them, profit, and move on to the next lot leaving the small items sitting on the shelf.  This is a lesson learned as these items have been the ones selling consistently.  If I can learn to thoroughly go through the lot and list everything before going to the next I will step up my sales to the next level.

They say the more you list then the more you’ll sell.  I agree with this as I keep listing more and more, the likelihood of a sale increases.  Who knows if I didn’t have as many listing as I do now, then I probably wouldn’t have ANY sales.

Bad Issues:
Less Inventory Coming In:

Sales have slowed going out which also has slowed inventory coming in.  Since I’m not selling as much I have been hesitant to bring more stuff in.  Not only would i be tying up capital, but i would my shelves would be overflowing.  I would rather grow inventory slowly, even though I love the thrill of buying new boxes of product!  If I had the help to bring more product and list more then I would continue to buy even though I would be selling less.

This downturn in sales has allowed me to learn how to not only grow my business but enhance my overall profitability per lot.  If I slow down buying inventory and consistently list each and all items in the lot then I will be able to move more inventory.  Developing processes and creating consistency is key to efficiently moving product!

-Chris
LiquidationOH@gmail.com

Want to learn step by step how to excel in the liquidation business or do you simply have questions?  This book will answer everything for you!

http://bit.ly/LiquidatorsGuide2017

eBay

How to add item photos to eBay

Stock Photos vs. User Photos
I always make sure to have the best photo as my first photo in the listing as this is usually the next best thing next to the title that the buyer will see.  A great photo will take your listing to the next level.  If I enter a UPC I will never use the stock photo.  These stock photos are not personable and usually do not give the buyer a good sense of what they are buying or bidding on.

I have read that more pictures in the listing then the better the listing will show in search results.  I cannot say for sure if this is fact, but I will include as many photos as necessary.  If I am selling something still in the box I will only take a picture of the front and the back.  If the item is open and has multiple pieces I will take pictures of all items to not only show the buyer what they are getting but to have proof on the listing should a case get opened up as “Item not as Described”.  I will go more into this in eBay cases later on.  The more pictures the better.

Some people use special lighting apparatuses or hanging backgrounds for pictures, but I usually just place the item on a table or the floor.  If I had lots of clothing then I might invest in a mannequin.  I make sure that nothing else is in the photo if possible so the user can focus specifically on the item.

Cover Yourself:
If there is a serial number I always make sure to include that in the listing.  This covers yourself if the buyer sends back the item for a return.  You can validate the serial number you received back against the serial number against the photos.  Plus if a case is opened against you, you can prove to eBay the items are different.  If items are being sold with defects then take pictures of which areas of the items are defective for the same reasons.

How to add photos to your listings:
There are multiple ways to get photos added in to your listings.  You can use an external camera, take your pictures and upload them to your computer to add onto the listing.  You can also strictly list and copy listings from your phone and take photos that way as you’re going through it.  What I do is start the listing on my computer, save as draft, and finalize it on my phone by taking the photos and listing it.  It is super easy to open the saved draft on your eBay application on your phone and add the photos as you take them in the listing.  Once you take the pictures, complete the listing!

-Chris
LiquidationOH@gmail.com

Items, Liquidation

Where Do I Get My Products From?

When you’re first starting out at reselling, I would guess the first question you’re going to ask is what do I sell and where do I get?

Look Around You

I would recommend any reseller who wants to scale their reselling business look at this option first as it is the most cost effective solution to someone who wants to start out.  Everyone has items in their house that they are looking to get rid of, and why not use these products to make some money.  That pair of jeans in the back of your closet that you have not worn in a year, sell them!  The old iPod sitting in your desk drawer? Sell it!  Not only will this give you capital to grow and move into the options described next, but it will test if this is something you are interested in and want to grow.  It will also give you a taste of what selling platforms that you like best and you understand how to work them to your benefit.  Once you’ve perfected selling items around you and choosing a platform or two, then I suggest you move to the next options.

Thrift Stores

Thrift stores such as Goodwill and Salvation Army will potentially have items that you can sell.  The variability of finding sellable items is dependent on the market you are in as well as what items have been donated.  There have been instances where someone has found a large priced item for cheap, but it is hit or miss.  Also as it depends on the store, but I have seen Goodwill stores that are priced very cheaply so as the majority of items allow for a large profit.  I have also seen Goodwill stores that have researched online and discovered the items that they are selling are worth money and then they try to sell that same item for the price on eBay.  Again this open will take multiple tries and lots of digging to find good products.

Retail Arbitrage/Online Arbitrage

The process of retail arbitrage or online arbitrage is the buyer going to a store or online store and finding good deals for reselling.  For example, someone finds that Target is having a large discount on a certain video game or household item.  This would mean you would go to that store and purchase it for the sale price and resell it for higher on a different platform such as eBay or Amazon.  The same holds true for an online platform.  Maybe Amazon has a black Friday sale on NES consoles for $50 dollars.  You would then try to buy as many as possible and then resell them on eBay for $200 as an example.

Wholesale or Liquidation
Buy from Liquidation.com! CLICK HERE

Liquidation has currently provided me the most opportunity to turn a profit, but these options also have the highest risk.  You can buy an auction of liquidation merchandise and lose your shorts.  It is important to dip your toe in before you buy a full truckload of returned merchandise.  Because what could happen is that full truckload is full of junk, you lose money, become discouraged and quit.  You need to start small and grow commensurate with your profits.  I would not recommend buying thousands of dollars of inventory only to learn you bought at the tail end of a trend.  Purchase to what you know and grow one step at a time!  I will explain the different options of where you can source small lots to grow your profits and expertise in sourcing the right product to make you a profit in the wholesale and liquidation business.

-Chris
LiquidationOH@gmail.com

Want to learn step by step how to excel in the liquidation business or do you simply have questions?  This book will answer everything for you!

http://bit.ly/LiquidatorsGuide2017

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??

Image

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

fullsizeoutput_16

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