eBay

worldapexsales · ‎01-22-2023

Need some advice from the veterans. First full year on ebay part time selling yard sale, thrift store, and auction finds. Total Sales is 55k, net is 33k, leaving me with 15k profit after cost of goods and taxes. The 15k number really left me feeling defeated as I'm spending about 14 hours per week sourcing, listing, and shipping. Does this seem right with 55k total sales? Should I look at my promoted listings percentages? Would my second year be slightly better if I put in the same amount of effort (I also have a full time career) since I have inventory now? I'm looking for motivation. 😔 I'm willing to learn and make drastic changes...even if that means switching up my sourcing. Thanks so much!

sapphire_studio · ‎01-22-2023

Making 15k in profit on 55k gross seems right to me. Thats over $20 an hour of you are only putting in 14 hours a week. Thats pretty great! Especially if you enjoy the process of sourcing and the dopamine rush of finding treasures at yard sales and thrift shops.

theteamsetguy · ‎01-22-2023

@worldapexsales ,

After one year I would hope you have learned a few things like what sells well and for what price. Where you tend to find the best deals and etc.

I would hope you should do better the second year if learned anything. Also, 20.00 per hour for a part time gig isn't terrible. Especially if you enjoy it.

dnasilver · ‎01-22-2023

If I understand what your saying Net33 -15 profit = 18 invested. A return of 15K on 18K is outstanding. You got around an 83% return on investment. If I misunderstood take you profit divided into your investment. Either way you are on the right track if you can maintain those types of returns.

memphiskansasgirl123 · ‎01-22-2023

This is a rhetorical question: had you not promoted your listings, do you think you would have gotten any sales.

Its sad, but the reality is despite me even having a store; paying for promotions is a must. Unless you can find some exceptionally rare and very unique items promotions is a must for common items.

tdrake · ‎01-22-2023

@worldapexsales wrote:
Need some advice from the veterans. First full year on ebay part time selling yard sale, thrift store, and auction finds. Total Sales is 55k, net is 33k, leaving me with 15k profit after cost of goods and taxes. The 15k number really left me feeling defeated as I'm spending about 14 hours per week sourcing, listing, and shipping. Does this seem right with 55k total sales? Should I look at my promoted listings percentages? Would my second year be slightly better if I put in the same amount of effort (I also have a full time career) since I have inventory now? I'm looking for motivation. 😔 I'm willing to learn and make drastic changes...even if that means switching up my sourcing. Thanks so much!

From where I sit you're doing good.

As far are your promoted listing percentages, I don't see where you can improve your take-home a whole lot. I only know what my %'s are, over time I sell a pretty varied array of items. I promote about 85-90% of them, at the "suggested" rate. It seems for most of my items that runs from 4% to 8%, a few higher, a few lower. And, of course, some none at all. PLUS, not every promoted item sells through promoted listings. 4 of my last 10 sales were not sold via promotions even though they were promoted. Didn't pay fee. So if I wasn't promoting, what would it gain me? Maybe 5% more? And THEN... you have to think of what you wouldn't have sold if you didn't promote.

That is the longgggg way of saying I think you're doing good, any cutback in promo would result in small gain - if any - return.

dhbookds · ‎01-22-2023

I agree that you've done well.........but I also think you should examine what you are doing to see if you could do better......

Look at each of your expenses.......you don't have a premium store, I presume.....if you do, you should knock down to basic.

Promoted listings.....how much ARE you spending on that.......too much? too little?

What is your sale price average.......can you raise it by listing the more expensive items and not fooling with $5-10-15-20 items? (I haven't done more than glanced at your items)......

Can you get by adding 25/50/75c handling fee on shipping? That little amt can add up if you are selling alot.........

I used to review stuff every Jan........just to see if I could see ways to increase the "take"......not necessarily by raising prices.....

just thoughts.

worldapexsales · ‎01-22-2023

Thanks to everyone for the quick replies. It was nice to read the positive replies. It's good to hear that 15k seems about right after cost of goods and taxes on $55k sales. Yes, good points on promoted listings. I tested out not promoting for a few weeks and it was a huge drop in sales. I'll try to answer some of the questions. I have a basic level store. If my math is right, I'm earning roughly $30 an hour (before taxes). I automatically promote ALL of my listings at the eBay suggested rate. I'd like to turn promotions off for the items that I know are rare/hot but I've not yet figured out how to make promoted listings automatic for some and not for others. Average sales price is $39.40 and, after a few months of reselling, I'm much more careful about ignoring some of the $10/$20 items that aren't worth the time (although I'll still occasionally pick up an easy shipper for $1/$2). I run best offers on almost everything and run lots of markdown sales. As far as ROI, I THINK that would be figured using my Net Sales before subtracting cost of goods and taxes. So 10k invested resulting in 33k net is a 23k gain or 230% ROI??? I have lots of inventory left over that was purchased with that $10k. As far as adding a handling fee, I haven't done that but I recently upped a couple of my flat shipping policies prices by 10%. Having a steady flow of GOOD items to sell (aka sourcing) is my biggest challenge. Thanks for the ideas and I welcome additional replies.

whorunbartertown · ‎01-22-2023

I think you are doing incredibly well. I am in my second year of full-time selling; about 30-40 hours per week and I'm taking home four figures in profit. I'd love to switch with you, working 15 hours and making 10x the money.