posted on November 30, 2000 12:41:06 PM
Adrian..I was using the bible as an example too
What I was getting at is that the whole market for the truely antique book trade may be softening. Even a dealer who has decades of experience may not be aware yet that this is happening. I think the process is slower in the real world, it takes longer for the individual dealer to recognize it is occurring.
I have always had to be careful of what I bought for ebay. I have always also had to think in terms of a smaller profit margin than a shop owner does. I have never bought for ebay with the expectation of doubling or tripling my money (which I did for the shop).
I look at it this way...I can buy an item Saturday night for $20, bring it home, list it Sunday night, seven days later it sells for $30, within 7 more days (normally) I have the money in my hands and the item is on it's way to the new owner. I have made 50% on my money in 15 days. This comes out to 1200% on my money over a 12 month period.
In a shop I buy it on Saturday, put it in the shop on Sunday and it sits for 3 months before it sells (average). In order to get the same return of 1200% on my money I have to price that item for $120...assuming that $120 is the normal retail price for the item in my area and it will sell for that.
As a shop owner though, I wouldn't expect to get a 1200% return on my investment every year..I would expect more like 300-400%. So I can buy that item for $30-$50 at auction..which of course means the ebay seller will be outbid by me, the shop owner.
The average ebay buyer (IMO) is like the collector who goes to a real life auction...he goes because he doesn't want to pay retail. The ebay buyer doesn't want to pay retail, that's why he is buying on ebay.
When I rented my first (very small) booth at an antique mall, the manager told me I could go one of two ways...I could buy and price for the collector or I could buy and price for the dealers. She told me both ways were profitable but required different mindsets. She didn't know about ebay at the time.
I have found that I have to buy and price for the dealer on ebay because the true collector who will pay top price for an item is few and far between on ebay. And IMO, the ebay seller who is buying with shop retail in mind is not going to be satisfied with ebay...they will always be unhappy that they are outbid at local auctions for merchandise and will be upset that the real life dealers get higher prices than they do...and will begin to think there is something "wrong" with ebay.
posted on November 30, 2000 12:53:29 PM
Amy.
You and I think the same way.I price it purely at a wholsale level.But you have to be
very picky about what you buy.
I rarely loose money on an item.Some items I make a lot some I do not.Just keep plugging at it.
Question is why do you see more of the dealer than the collector on ebaY.I get lots of payment from dealers and it does not bother me as I am looking for the quick turn around.Sometimes I go for longer depends.
A few months ago I bough 9 books all before 1600 at auction.I paid about 100 a piece each.I sold all 9 each on an individual basis for as low as 150.00 others as high as 700.I made out like a bandit on it.I find I can find at least 3 or 4 items that do that each month.Those are the fun ones.
If I can sell at item for 15.00 that cost be 10.00.I do it,but I buy it on quantity and can list more than one at a time and that works too.
My strategy is similar to yours.But ebaY is not a retail market and again I think it does not represent the true value of items or even comes close in most cases.
posted on November 30, 2000 01:08:40 PM
I feel that the price it sells for on ebay is more indicative of the value than the same item collecting dust in an antique shop priced twice as high...
posted on November 30, 2000 01:44:25 PM
Adrian..I agree, it does not represent the retail market or frequently even come close. And it is a challenge to find merchandise to sell at a profit. I think that's why I like it so much..the CHALLENGE!
