Another month in the books! Spring has been a little weird around here in Maryland.
It’s gone from winter, to spring for 2 days, then right to summer. Then back to winter (it actually snowed on Saturday last weekend), a week of spring, and now we’re going to have a high of 86 today.
Basically, I’ve gone from wearing my winter jacket to shorts within a span of a week!
But hey, all of this means that it’s garage sale season, and I’m already enjoying the deals out there! I just need to keep my purchases to a minimum and really be buying with purpose.
April Profits by the Numbers
|Cost of Goods Sold||70.69||80.48||335.79|
|Profit / Loss||387.34||518.52||1,501.06|
Things to note:
* I seem to be right around that $900 in sales per month. This proves to me that eBay growth definitely isn’t linear. I’ve gone from ~200 items up to 300 and have only increased my income incrementally.
To illustrate, the people over at Scavenger Life like to net $1500+ per week, so that’s ~6k a month. This is on ~4,000 items in their store though! They have 6x as much sales as me but have 13x as many items in their store.
**I’ve put in a 20% re-stocking fee for all of my items. This helps recoup some of my costs from offering Free Shipping.
I sold a Pendleton shirt that I shipped to NY for $5.35 (padded flat rate mailer). It was returned due to not fitting. So here’s the math on it (ignoring original purchase price and eBay/Paypal fees since I either got them back or it will come out again the next sale)
- Sale Price – $44.99
- Shipping – $5.35
- Return (minus 20% re-stocking fee of $9.00) – $35.99
Total Profit – $3.65
As a seller, I’m a huge fan of re-stocking fees! I had the shirt listed for a few months, so that’s probably ~$0.60 in re-listing fees. Then there’s the costs of bags, stickers, and labels I use. All of this ignores the time I spent packing, shipping, and re-listing the item.
In the end, I feel zero guilt making a buyer pay for this. I had the size in the listing, and I had the measurements.
This also taught me a nice lesson on buying on eBay – check the measurements against something that you own and fits you well and be comfortable with a seller’s return policy. You can’t leave negative feedback for a return policy that you agreed to prior to purchase.
Most sellers give you some return window and re-stocking fees are slowly becoming more popular.
All in all, April was a solid month. I still haven’t had a good enough month to make up for the lousy January and March, but I’m also just sticking with my Beeminder goal of listing 15 items per week.
I understand that this won’t get me to my goal of 10,000 in profits for the year, but it is something that fits into my life schedule while still remaining a hobby. I’m not doing this full time (yet?) even though working from home may be a long term option.
Stay tuned for next week where I’m not going to do one of my usual flip posts. It’s going to be all about “flops!”
This co-insides with our community garage sale so I have everything nicely organized into depressing piles of sub-par profits. If I sell it for $1 at a garage sale, it’s better than me donating it back to a thrift store.
Hopefully I’ll be able to help you avoid some of the mistakes I’ve made while also making a little cash back!