posted on September 28, 2000 11:54:10 PM
I'm just now thinking of "stepping up" my auctioning habits. I have not been on ebay long, only about a month and a half. I've done 140 auctions as a seller but only one as a buyer. My most expensive sale was for $158.00. Small potatoes I suppose I'm tracking an auction now that is well into the thousands and I am confident that I can resell this/these items at a substantial profit even if the bidding goes up a few more G's. Here's the problem: While I can afford the auction and I am confident I can re-sell without risk, I'm still getting cold sweats, lol.
Is this a crossroads that most of you sellers have come to at some point?
Did you give something up because of the "cold sweats" and ended up regretting it later?
Have you "gone for it" and been rewarded?
I'm not usually in such a wishy-washy state because my auctioning has been alot of fun and the dollar values haven't been great enough to sweat over. Any chance of some input here? Maybe some of your stories of what went right and what went wrong will help me to make that "maximum" bid or not.
Thanks
posted on September 29, 2000 12:14:26 AM
All I can tell you is that I spent 9 months testing out the sales and learning all I could. In the 8th month, I discovered AW and I learned so much stuff that it would have taken me another year or two to learn.
It wasn't until we received a feedback rating of 30 before anyhting really moved, then at 50 Buyers began to trust us. After that, we did better and better as our feedback climbed up high.
posted on September 29, 2000 12:49:20 AM
You are not very specific about what you are bidding on due I suppose to not wanting to draw other bidders. Just be sure this is not an item that can be not-as-represented like 14kt gold that may not be up to karat value, and from someone that you know they have a physical address where you can deal with them if there are problems. When you get into thousands of dollars I would want escrow services if I could not pick it up and pay on sight. If you have a Visa/MC with enough of a limit I would use it so you can do a chargeback if all else fails. When there are scams for high value items eBay's insurance is pretty worthless. They only cover a couple hundred and make you jump through hoops to get it. It is just not real common to be able
to buy on auction with the intention of reselling on the same auction. You usually have to do a lot of repackageing etc. to make it work. I have boughtm large lots of perishable cutting tools and broken them into individual pieces because I am set up to do the packing and shipping well and the other people were not - they wanted a whole sale.
I have been selling online for a little more than a 1 1/2 years. Most of my items are under $20.00, and sometimes $50-$70, and a few a month near or over $100.00
I very very rarely buy on ebay to resell on ebay in the cat. that I usually sell in.
One reason is: If someone can buy it today for 500 why would I think that someone in a week or two or a month would pay more for it? Especially when they can look up the item and see how much others are going for or what it has sold for.
I have found that very few items on ebay are one of a kinds. It seems like my highest bids come from newbies and the seasoned bidders hold back and wait for the price to come down some before they bid. Either is great with me.
Having said that, and with 4 million items online for sale at one time (or so we think, since ebay no longer tells us) and since your item is in the thousands of dollars, my experience may be typical of sales in my area only.
You might want to do a search for the item on ebay, to see if there are others, and check the closed auctions to see what the going price was.
Also consider the seller - is it an established person? Do they have negatives? what are the terms of auction? Do they offer payment through an escrow service?
You might even what to do a universal search through auction watch.
If it is an item that is so low in price you can't believe your eyes, something may be up.
Also check to see if the seller states no refunds, and are the pictures good?
For myself: no picture=no bid from me.
been burned too many times.
My advice, do the homework. Check out the feedback - is the most current positive feedback for large or small items?
As the saying goes, if it's too good to be true, it probably isn't true.
If you do the homework and it checks out, ask yourself if you can stand having this item at home collecting dust if you can't resell it, and can you make the house payment, rent, car payment, etc. if it doesn't sell right away.
I would also be careful about putting the item on credit card. Calculate the interest rate. This may seem like a good idea at first, but if the item sits for a long time, the interest rate may eat up any profits you might make.
posted on September 29, 2000 01:07:31 AM
Thanks macandjan:
Good points there. This auction is for an item that I know very well and the seller has stellar feedback. I'm not so much worried about getting ripped off as I am for spending that kind of cash all at once. My car didn't cost me as much, lol.
"to buy on auction with the intention of reselling on the same auction. You usually have to do a lot of repackageing etc. to make it work. "
This will take extensive repackaging. A point I hadn't considered yet.
posted on September 29, 2000 02:50:56 AM
It's all about self belief. If you believe you can then you will probably be ok.
Make sure that your analysis of the facts and situation are sound. If it is then take a big spoonful of courage and go for it.
Best of luck!
posted on September 29, 2000 07:38:43 AM
Look at it straight forward: If you buy it and it doesn't sell, can you still afford to eat? If so, (and you can overcome that awful feeling in the pit of your stomach,) go for it! You'll never know unless you try. And, if you fail--well, you've got a big expensive thing sitting around your house. In this day of murders, accidents, diseases, etc. keep in mind IT'S ONLY MONEY. Important, yes, but it's just green stuff.
posted on September 29, 2000 09:09:41 AM
Many sellers turn decent profits relisting things they've purchased on ebay. Every auction, virtual or RL, has its sleepers. On ebay, typically poor performers are those that are misspelled, placed in the wrong category, listed by sellers who don't know what they are, etc.
If you're certain that this thing falls into the "poorly listed" category, and indeed will sell for much more if listed properly, then I'd definitely go for it. Good luck!
posted on September 29, 2000 01:42:05 PM
ehansen, if it's for a big comics auction, it's going to be a lot of work! I have some experience in that category. I realize there are oodles of categories on eBay, but that's one I've been watching. Just out of curiosity, wish I could afford it, it would be a lot of fun to sort through, but not for me!
You said you could resell the item(s) for a profit. Like I realized in the comics field (and all I'm doing is dumping my collection), just make sure you account for all your time and hard work in those profits!
monster
P. S. Moderators, the auction I mentioned is just a general one-shouldn't be able to identify which one I was referring to (as there seem to be several at the moment)
posted on September 29, 2000 03:11:27 PM
I've picked up a few "box lots" on eBay (and elsewhere) that I have made good money on, by cleaning up, repackaging, identifying for buyers, and so on. I look for at least 3X what I paid, or it isn't worth it. Of course, I've never dealt with something worth into the thousands, but I think the principle is the same. If the value is there, and you are sure you can either get more than you paid for it (plus recompense for your time and effort), or you can afford to eat your loss, go for it.
I'm still steadily working away at two separate large lots that I've bought over the past few months for resale, and I'm getting good sales when I do the listings. But another aspect is that I've gotten sick and tired to death of selling these particular things, and almost wish they would just disappear at this point!
posted on September 29, 2000 04:02:41 PM
I can buy virtually nothing on eBay in "my" categories (computer or photo) because almost always the bids excede what I can pay RETAIL for and get the next day with a warranty. Most of eBay is people thinking they are playing a video game.
They only time I have gotten a "deal" is when newbie sellers don't know what they are doing. Often they put large lots up instead of breaking them up. Then newbie buyers don't know how to search. As an example of both: I saw an auction for "okidata stuff". In the listing were 2 laser printer drums, some laser printer fusers, and a bunch of junk. I won the bid @ $70. At the same time , people were looking for and paying $150.00 each for "Okidata OL-1200 drum". So I got my drum plus an enormous profit.
Another time I got a steal because a Beseler 23CII enlarger was advertized as "Besselar 23CII".
Other than instances like this, I've never found a "deal" on eBay. eBay is best thought of as the way it started: collecters swapping stuff.
Tony
posted on September 30, 2000 06:36:24 AM
Thanks for all your thoughts
The auction in question is in that horrible limbo stage right now with zero action and I know there is a pile of pros waiting for the closing moments. Thank god I'm on the night shift rotation at work this weekend, lol, and need to be awake all night.
Joyce:
"And, if you fail--well, you've got a big expensive thing sitting around your house. In this day of murders, accidents, diseases, etc. keep in mind IT'S ONLY MONEY."
-which is usually the reason behind murder and "accidents", lol. I know what you mean though and I'm about 90% sure I will go for it although if the very serious collectors are waiting in line to bid, then I'll be out of my league very quickly.
idlemonster:
No, it's not for a comic auction but there is a parallel. I can see profits in splitting this thing up and piecing it out but as you and Macandjan have mentioned, the repackaging is something I'm just now considering as it will be alot of work. So far, though, I've even enjoyed the packaging aspect of this business. Even with the work, it's soooooo much easier than it used to be for me with hauling everything around to the shows and getting slim profits operating as a lowly picker for items outside of my field.
again,
thanks for all your thoughts
It will make a difference in the end. Already I'm feeling better about deciding. All I need now is to wait and see if my max can come in just a quarter higher than the highest one......
posted on September 30, 2000 11:59:05 AM
my feeling is any profit is a profit. I only make $1 or $2 on my auction but being disabled it brings me joy and my people love my clothing....so go for it and repack and repack but get rid of it all before beginning of December...hope your feedback is building Preppylady
I'm tracking an auction now that is well into the thousands and I am confident that I can resell this/these items at a substantial profit even if the bidding goes up a few more G's. Here's the problem: While I can afford the auction and I am confident I can re-sell without risk, I'm still getting cold sweats, lol.