Tag Archives: ebay

Goals, How To

May 2018 Goals: What’s Different

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

Let’s end this month strong and grow each other!

-Chris
LiquidationOH@gmail.com

 

Sourcing

Source Fanatics – Instantly Scale Your Inventory

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.

FB Group: Source Fanatics Facebook Group

Our Services

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

  1. Subscribe to the service for $100/month.  This is a month to month fee and you can cancel at any time.
  2. 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.
  3. 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.
  4. 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.

-Christopher Sirois
LiquidationOH@gmail.com

eBay, How To

Tips for eBay Success – Listing Daily and Bundles!

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!

-Chris
LiquidationOH@gmail.com

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

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

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.

IMG_9521

#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

Shipping

Shipping Secrets: Regional Boxes

USPS Regional Boxes

What are they, how do I get them and save money?

Where? – I get my regional boxes for free from USPS.com.  If you go to their website you can order them and get them shipping to your door at no cost.  Make sure you order both the regional A and regional B boxes.  Keep in mind they take awhile so make sure you order in advance is you’re running out.

Get boxes here: https://store.usps.com/store/browse/category.jsp?categoryId=shipping-supplies

RegionalPricing

When? – I’ve found they are comparable if not better than shipping Priority.  They basically combine the low price of zone shipping while using the speed of Priority.  Here are some other benefits of using regional boxes.

  • Up to $50 in insurance included (for mail pieces with barcodes)
  • Tracking included in rate
  • 1, 2, or 3-day delivery based on package origination and destination
  • Free package pickup for many locations
  • Saturday and residential delivery at no extra charge for many locations

Tip:  They are the lowest cost option when the weight is between 2 and 15 pounds.

How? – Purchasing the label is just as easy as purchasing a first class label or priority label.  There are options within eBay to select the regional A or B options and the price will populate.  Then you simply place the item in the box and ship it.  There are different box options as show in the table below.

RegionalSizes

How do you know when to use this option?

  • First, I always see if my item will fit in the regional box if I think the item will be over 16 ounces.
  • I then weigh the item and plug the weight into eBays shipping screen
  • I price out both priority and regional options (A and B).
  • Choose the cheapest!

I hope this helps you pick the most cost effective solution!

-Chris

LiquidationOH@gmail.com

Liquidation

How I Find the Items I want on Liquidation.com

How do I find the items I want on Liquidation.com?

Some tips on how to find items that you can sell

I wanted to give everyone some insight on how to not only search for auctions but how to search for specific items within auctions.

Search Options:

Category Browsing

Screen-Shot-2017-04-05-at-11.02.06-PM

  • As you can see in the snip above you can select general categories to look at all the auctions for each grouping.  This is how I started out searching for the auctions to target within the electronics and tools categories.  Doing it this way allows you to see all the sellers and different types of items in each category.  Once you dig into it at a high level there are options for you to narrow down your targets by auction type, warehouse, and auction price to name a few.

Specific Item Search

Screen-Shot-2017-04-05-at-11.01.53-PM

  • If you use the box at the top of the website you can actually search for specific items.  When you click search you will see all the auctions with that specific word in them.  So for example if you search the word “Nest”, you might see auctions for Baby items having a blanket with the word nest in it, or tool auctions with the Nest Thermostat.  Once you search for the item I would suggest you go into each auction and READ the manifests.

Secret Tip: If you search for multi-word items encased in double quotes then it will return auctions with that specific word combination in them not just bits and pieces.  For example if I search “Nest Thermostat”, I most likely will only see tool auctions while excluding the baby ones that might appear should I not have used double quotes.

  • Make it a Habit – I make a habit of checking Liquidation.com daily to search for auctions.  As I search for auctions, I add the ones I like to my watchlist (see below photo where it says “Add to My Watchlist”. Once they are in my watch list I monitor them from they “My Account” screen.

Screen-Shot-2017-04-05-at-11.01.39-PM

  • Create an Item List – No matter the category, as I become familiar with the products I’m selling I notate the ones that consistently sell and sell for a high price on a piece of paper or electronically.  These items are going to be the ones that allow you to recoup your expenses for the lot.  Usually I make my money back from only selling the top 10% of items from each auction.  These items are then what I search for when I’m searching for item specific auctions.
  • Stick with a Seller – I tend to stick with one seller as I then get to know what to expect from them.  This may bode well for beginners as they know what to expect.  If I’m continuing to see good items and my expectations are met, then I will only look for auctions with those that match my previous experience.  Only when I’m looking to grow my business or when I want to seek products that only other sellers offer will I then venture to a new seller.
  • Boundaries – I always keep track of auction cost verses value of the auction.  Just because the auction has an item I really really want, I will NOT continue to bid.  If the auction price surpasses what my return will be I leave it alone.  There will be plenty of other auctions with that same item in them.

I’d love to hear your tips on winning auctions and finding items that you love to sell from Liquidation.com

-Chris

LiquidationOH@gmail.com