Most sellers don’t know this trick
TLDRIn this video, the host shares valuable tips for online sellers, particularly on eBay. He explains the importance of promoting listings to increase visibility and sales velocity, even if it means paying a small percentage to eBay. The host also discusses strategies for finding garage sales and sourcing inventory, including using apps like Yard Sale Treasure Map and Facebook Marketplace. He provides insights on handling situations where items are marked as delivered but the buyer claims they never received them. The video is filled with examples of successful sales, such as a Fujifilm camera, Brooks running shoes, and a vintage Mark Martin Valene satin jacket, which yielded high returns on investment. Additionally, the host addresses a common issue sellers face with 'best offer' transactions and how to use Terapeak to find the actual sale price of items sold through offers. The summary of the video is both informative and engaging, offering practical advice for those looking to improve their online selling strategies.
Takeaways
- 🔍 When you see a green slash through the price on sold comps, it indicates the seller accepted a best offer, but the exact amount is not disclosed.
- 🎥 The video provides tips on finding garage sales, including using apps like 'Yard Sale Treasure Map' and checking Facebook Marketplace, though the latter can be less reliable.
- 📦 The speaker shares a successful garage sale find, a Cool Pix s8000 camera bought for 50 cents and worth about $150.
- 👟 The importance of promoting eBay listings is discussed, with the speaker advocating for a minimum 2% promotion on all listings to increase visibility and speed up sales.
- 🛍️ The strategy of ending and relisting eBay items to refresh them in search results is mentioned as a cost-effective way to boost an item's search ranking.
- 📈 The video outlines a process for dealing with situations where a buyer claims not to have received an item, despite tracking information showing it was delivered.
- 📦 The use of large bags, such as Ikea bags, is recommended for carrying multiple items when shopping at estate sales.
- 📈 The video details a week's sales, highlighting a high ROI and net profit margin, with 27 new listings and 25 sales.
- 🤝 The importance of good packing is emphasized, as it can prevent damage during shipping and lead to positive feedback from buyers.
- 🚫 The video advises against promoting listings for items that are one-of-a-kind or have no demand, as it will not create interest where there is none.
- 🏆 The top flip of the week was a new Ring Alarm 8-piece home security system bought at a garage sale for $30 and sold for $558, demonstrating a high ROI.
Q & A
What does a big green slash through the price on sold comps indicate?
-It indicates that the seller accepted a best offer, but the exact amount of the offer is not disclosed.
What is a good brand to look out for when buying items at a garage sale?
-Gy Shore is a good brand to look out for, as items from this brand tend to sell well.
What was the best find of the weekend in terms of value at a garage sale?
-The best find was a Cool Pix s8000 camera found in a 50 cents pile, which is worth about $150.
How does Justin find garage sales to source inventory?
-Justin finds garage sales by driving down well-known paths in his local area, using apps like Yard Sale Treasure Map, and occasionally checking Facebook Marketplace.
What should a seller do if a buyer claims they never received an item that shows as delivered on tracking?
-The seller should not issue a refund as eBay generally supports sellers in such cases. However, they can assist by providing the local post office contact information for the buyer to follow up.
What percentage of his listings does Justin promote on eBay and why does he believe it's worth it?
-Justin promotes all of his listings at a minimum of 2%. He believes it's worth it because it increases the visibility of his listings, leading to faster sales.
What is the benefit of ending and relisting an item on eBay?
-Ending and relisting an item can give it a new item ID and make it appear as a new listing in search results, which can help boost sales as eBay's search algorithm often favors newer listings.
How does parting out items work and why is it beneficial?
-Parting out items involves selling individual components of a product separately. It can be beneficial because it often results in a higher total sale price, is easier to ship, and helps keep more items out of landfills.
What is a good strategy for carrying items while looking through different rooms at an estate sale?
-One strategy is to carry a couple of large Ikea bags, which can hold a lot of items. If the bags fill up, the person can pay for the items, take them to their car, and then return for another round of shopping.
How can sellers determine the final sold price of an item that was sold as a 'best offer' on eBay?
-Sellers can use Terapeak to search for the exact title of the item. If the item was sold for a fixed price, Terapeak will display the final sale price.
What was the most profitable item Justin sold in the given week and what was the return on investment (ROI)?
-The most profitable item was a new Ring Alarm 8-piece home security system, which Justin sold for $558, resulting in a net return of $484 and a 2400% ROI.
Outlines
🔍 Garage Sale Treasures and Best Offer Secrets
The paragraph discusses the process of identifying sold items on online platforms, where a green slash through the price indicates a best offer was accepted, but the exact amount isn't disclosed. The speaker shares personal experiences with garage sales, highlighting successful finds like a Nikon Cool Pix camera and a bag of Levi jeans. They also offer advice on finding garage sales through personal routes, apps like Yard Sale Treasure Map, and Facebook Marketplace. Additionally, there's a discussion on a tricky situation involving a delivered item that the buyer claims not to have received, and the speaker's approach to handling such issues.
📈 High ROI Flips and Promoting eBay Listings
This section details the speaker's sales performance over the past week, including income figures and the number of new listings and sales. They mention not meeting their listing goal for the week and provide insights into their inventory turnover. The speaker then delves into specific high-ROI sales, such as a Fujifilm camera and Brooks running shoes, and discusses the strategy behind promoting eBay listings. They argue that the minor additional cost of promotion is worthwhile for the increased visibility and faster sales it provides.
🛍️ Navigating Estate Sales and Item Carrying Tips
The speaker shares their experience with estate sales, discussing strategies for buying items in bulk and paying in batches to understand pricing better. They mention high-performing sales items like a Mountain Smith lumbar day pack and a vintage race car track part, emphasizing the value of parting out items for higher profits. The paragraph also addresses a viewer's question about managing items while browsing through estate sales, and the speaker admits to using large bags for carrying purchases and making multiple trips to the car if needed.
🚴♂️ Flipping Bike Cubes and Vintage Finds
The speaker recounts successful sales, including a Mountain Smith bike cube and a vintage Pyrex coffee pot percolator, which despite being delicate and difficult to ship, yielded a high return. They also discuss the use of Terapeak to discover the final sold price of items sold via best offer, which is particularly useful for valuation purposes. The paragraph ends with the sale of a vintage Mark Martin Valene satin jacket, which was acquired at a low cost and sold for a significant profit.
🏡 Home Security System Flip and Weekly Sales Recap
The speaker describes purchasing and quickly selling a new ring alarm home security system at a garage sale, emphasizing the importance of recognizing an item's potential sell-through rate and demand. They review their worst flips of the week, which still resulted in decent profits, and provide a summary of their overall successful week in terms of gross and net income. The paragraph concludes with an invitation to viewers to subscribe for weekly updates.
Mindmap
Keywords
💡sold comps
💡garage sales
💡best offer
💡promotion strategy
💡ROI
💡parting out
💡inventory turnover
💡net profit margin
💡estate sale
💡Terapeak
Highlights
A trick to determine the sale price of an item when a best offer is accepted, which used to work by viewing the source code, is no longer effective.
The use of Terapeak to find the actual sale price of items sold on best offers by searching for the exact item title.
Garage sales are a favorite method for sourcing new inventory, with strategies for finding them shared by the seller.
A successful garage sale find includes a Nikon Cool Pix s8000 camera found in a 50 cents pile, later sold for $150.
The importance of looking out for brands like Jym Shore and Mountain Smith when sourcing items at garage sales.
The strategy of buying items in bulk at going-out-of-business sales, such as Brooks running shoes, for resale.
The use of apps like Yard Sale Treasure Map and Facebook Marketplace to locate garage sales in unfamiliar areas.
A seller's dilemma when a military-based address claims non-receipt of an item despite confirmed delivery, and the approach to handling such situations.
The impact of listing and promoting strategies on eBay sales, with a focus on the effectiveness of promoting every listing.
The high return on investment (ROI) from selling a Fujifilm camera, Brooks running shoes, and a Mountain Smith lumbar day pack.
The practice of parting out items, such as a Quez art food processor, for higher profits and easier shipping.
The discovery of a vintage NASCAR satin jacket and its high resale value due to its rarity and good condition.
The successful sale of a new ring alarm 8-piece home security system, highlighting the brand's demand and quick turnover.
An overview of the seller's weekly sales, including gross and net income, and the importance of listing goals and average time to sell.
Tips for managing items during estate sales, including paying in batches to reduce carrying items and understand pricing.
The process of testing and relisting eBay items to refresh search results and potentially boost sales.
The sale of a vintage Pyrex coffee pot percolator, emphasizing the demand for vintage items and careful packing for shipping.
The handling of situations where buyers claim not to have received an item despite evidence of delivery, and the protection eBay provides sellers in such cases.
The importance of valuing and selling items like vintage race car tracks individually for parts, due to high demand for specific pieces.
