Dear Diary...

I worked about 3 hours yesterday and photographed my thrifting pile from Monday.  I have 37 items completely ready to list, and got 5 up online.  Sold one shirt for $17.50....not great, but I'll take it.  We've knocked the lid off of July.

Here is a sample of what is coming to my store soon!


Brooks Brothers vintage tie...

Banana Cabana Camp Shirt with vintage trucks and palm trees on it...

More to come as the week progresses.

Golf Shirt Tuesday..

Golf Shirt Tuesday...

Here's a fun one. This is a brand I don't normally sell, Greg Norman. I, personally, LOVE his shirts. But, they don't do as well on eBay....under $20 on the average and tend to sit awhile. This particular shirt, though, I had to have. I debated keeping it for myself, but knew it would sell for higher than average. Why? It's pattern! Sometimes you just know.

I listed it and within 24 hours it had half a dozen views and a watcher. The next day, a couple watchers. Then, 3. I had it listed at $22.50 and BO of $17ish, but no one pulled the trigger. I kept peeking in on it for a couple of days, knowing it would eventually pop. Usually, when an item picks up views AND watchers quickly, it is a good sign it will sell. But, I was a bit confused at why someone wouldn't pull the trigger at $22.50 or below? "C'mon, people....it's priced to sell," I would think to myself. Yet 4-5 days in and.........nothing.

Here's the trick. With 3-4 watchers building that quickly, I KNEW it would sell. So, I RAISED the price. Too many people think the answer is to lower the price. Raising it also produces activity. I don't think any of the current watchers were serious; I wasn't after them. I wanted someone knew that wouldn't see that I had changed the price.......or I wanted someone on the fence to panic and pull the trigger thinking, "Oh no, the price is going UP....not down. I'd better grab it before this guy gets too greedy."

I raised the price to $24.95, I think, with an offer at $20. Boing! Within 24 hours, it sold to someone in the middle at $22.00ish. I got what I was originally asking, but they still got a deal because it was under what they saw me asking, if that makes sense. It was a quick sale on a slow selling shirt because it was a great pattern AND because sometimes raising your prices triggers movement, too. Give that a try on some stale items with watchers.

Bought for $2.50....sold for $22+.  

The Big MO!

Thought I'd put up a thought...

People like to debate flipping vs buying and holding.  I'm always on the prowl for the middle.  But, I would like to say something to those that are just beginning the search for their selling style.

Buying and holding requires a bit of patience.  It is like a farmer planting seeds.  They aren't ready for harvest immediately very often.  And, the more seeds you plant, the bigger your harvest when it comes to season.

Most get excited about selling on eBay, do a bunch of work photographing and listing, then proceed to sit and watch their listings like watching a telephone when you just went on a date with a woman out of your league.  A lot of folks get impatient and begin a downward spiral of self-doubt when items don't sell for the prices they see others sell for.  These folks often become flippers (not anything wrong with the style) because they don't like the waiting.  Let me give you one tidbit that may help get you over that hump.

You need more listings.  You need to build momentum!  If selling for higher prices, you need a bit of patience to let time take over and harvest your seedlings.  'Tis true that the more you list, the more you sell.  But, once the momentum starts the reaping process, it doesn't stop for awhile, either.  This is the phase you desire.  This is when your business starts to get consistent.

It may be a slower trickle of sales, but it builds.  You start selling an item every few days.  You keep building your momentum (planting your seeds), and you start realizing a sale a day.  Then, two a day.......and onward as you list more and build.  The beauty is you take awhile off from listing and your sales continue.  The momentum keeps rolling like a big snowball down a hill.  Yes, you have to add to it to make it grow/speed up, but the proverbial ball will continue to roll.

In my opinion, this is where I want to be.  I don't want the pressure to list 20 things to create income.  I don't want the pressure to buy more inventory because I have nothing to offer.  

I would rather have a campfire going and only need to add a few logs to keep it going instead of having to continually babysit said fire hoping it never gets blown out.  I can always add more logs and build a bigger fire.  What I can't do is give the energy to keep starting over with a pile of wood and a flint rock.

As I draw my half dozen analogies to a close, I hope you can see where I'm ultimately coming from.  Patience.  Building on faith.  Knowing that you just need to see the start of the momentum to excite you to keep going.

I see too many give up short of realizing the momentum.  If you like to flip your items, by all means flip them.  But, if you are the type that likes a buy and hold strategy...............by all means, buy and hold.  Don't change your mind half way through.  Stick it out and realize you just have to give your seedlings time to sprout, and it takes time to get those seedlings to harvest.  But, when you start to reap, you continue reaping.  The choice is yours.

Logo Watch..

Pine Valley GC in New Jersey is routinely ranked #1 in the state, country, and world.  And, it has been ranked in some form since at least 2003.

Golfers seek out logos on their golf shirts as a form of status symbol.  A lot of us collect them like badges.  Logos can be souvenirs from our travel vacations.  Heck, some of us lie about where we've played.  I don't know the reason everyone collects logos, but they can definitely add value to your typical golf shirt when reselling.

Be aware of the value some of the bigger ones can add.  It's easy to google the "best golf course top 100" or look at the PGA Tour schedule to learn which courses are more popular.  And, of course, google images can show you most of the logos so you can learn.

Sunday Tip: Pricing

Tip on pricing:  (Caveat....it may not be the best way, just my way).  

Many wonder how to price things.  They all go to the completed listings and see most things selling for $20 and think that's all their item is worth.   WRONG!  Follow these steps instead...

-Search the completeds/solds for your listing and organize by "selling priced highest plus shipping."
- Start with the top dollar item that is similar to yours (if not selling in a lot, disregard these results and scan down until you find a single item like yours)
- Look up at the number of listings returned by the search and go down 25% of the way.  For example, if the search returned 100 items, go down to number 75 (25 from the top since you are organized by price from highest to lowest).
- The top dollar number and the 75% number is your "range."  Price your item somewhere in there.

Don't be the guy that comes in at $19 because you saw three things this week sell for $20.  If you are that guy, you are contributing to killing your own market and costing EVERYONE money.  Sure, you may make a quick buck on a sale......but you are setting the new standard for buyers to expect and killing the entire niche for everyone else.

If you took any help from anyone ever, you owe it back to them to keep things in line with what you were taught.  If you continually undercut everyone, you should have been charged all the money you are leaving on the table by the person that shared all the info with you for free.

Just one guy's opinion.......have a great weekend, all.

Sunday Tip..

Patience is a virtue.

I don't know if that famous saying is from Aristotle or if it's perhaps a Chinese Proverb.  What I do know is it's true......and a test.  As I sit here watching the US Open unfold on tv, I remember my more competitive golf days.  When courses are set up this tough, patience is truly a virtue.  You learn to take what the course offers....what your day brings.  You do what you can to set yourself up to the best of your ability for those quality opportunities, but when things don't fall........you just wait it out and grind up another opportunity you will hopefully cash in on.  More championships in sports are lost rather than won.  Remember that when struggles start rearing their ugly heads.

Case and point...........new niches in Ebay.  Try to remember back to when you were brand new.  Heck, you may still be there in your opinion.  I often think I am.  How often did you check to see if something was getting views, watchers, interest?  How often did you listen for that app on your phone to ching?  All the time, right?  But, what was the advice you received when you found groups online that contained the experienced sellers?  List more!  Wait it out!  Do your research and you'll be fine.  Am I right?  This is exactly what you need to remember when you venture into a new niche of selling.

When you leave your comfort zone, you are a brand new rookie in a sense.  Yes, you have experience to draw from.  BUT, you are so anxious to do well that you often revert back to your old newbie self and start staring at the phone....hoping it chings.

As I venture into blue jeans, I see the same thing happening to me.  I am here to tell you to exercise PATIENCE.  You have a little experience.  You know how to construct a title.  You know how to take photos (maybe not perfect, but likely perfectly effective).  You know how to find the correct pricing value.  You just have to build your listings and let the opportunities come to you.

Many run out of patience and start lowering their prices in a panic.  I equate this to the stock market daytraders selling on the dip.  They don't wait it out....trusting their abilities.  Instead, they freak out a bit............and cost themselves money.  Don't take me wrong.  There are times when flipping is fun, or can fill a void in your selling strategies.  But, there needs to be balance in your selling structure for a few higher priced items you are willing to sit a little while on and maximize your profit margin.  And, that requires............PATIENCE.

So, join me and take the fingers off the phone.....off the computer for a minute.  Be the veteran you are and let the opportunity come to you.  Just keep listing and keep setting yourself up like a golfer on a tough course.  The opportunities will come to you.............if you exercise patience.

Hybridized system in the works..

I have hit over 2 sales/day this month....which is great. But,

 honestly, it's still not enough. And, I'm noticing I have to

 really build inventory to accomplish this....which means

 space WILL become an issue to reach my goals.

 BUT.............I am working on a hybridized system right now

 that will be a combination of flipping and sitting for top-

dollar with NO additional work from me. Flipping takes work,

 no doubt there. And, I just don't know if the margin

 provides enough for ME to do so without burning out by the

 end of the year. So, I have to get creative, and I think I've

 found something that may work. I will revisit this when I

 have something to report, but think I'll be rather quiet on

 this subject through June, unless things happen faster than

 I think. So, we'll see. I will be VERY vocal about it when I

 feel confident in the system working.

More on this idea later.