send offer feature

[keziak]

Over the course of the past 2 days I sold 5 books from the Send Offer feature. I make an  offer of the amount I would accept if the customer made me the offer.

[myboardid]

How many offers did you send out, and how much of a deal did you offer them? I find that I get about one in 30 replies with an offer, but I don't drop my price a huge amount, as I already have the lowest prices for my items.

[lex-talon]

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@keziak wrote:

Over the course of the past 2 days I sold 5 books from the Send Offer feature. I make an  offer of the amount I would accept if the customer made me the offer.

Lately, I'm having more success with the send offer feature. There is usually more than 1 watcher & sometimes it takes a nudge to get them interested enough to buy my item. 

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[estatesalequeen]

I have recently, over the past month, been using the Make an Offer feature. I have been very happy with it. I have not figured the actual % but I am getting a sale or two every couple days. I only offer 8-10% off. This amount works for me and seems to work for the buyers. I am happy.

[keziak]

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@myboardid wrote:
How many offers did you send out, and how much of a deal did you offer them? I find that I get about one in 30 replies with an offer, but I don't drop my price a huge amount, as I already have the lowest prices for my items.

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Five sales out of, hmm, around 10 offers, since it was just yesterday and today. 

I make an offer in the same amount I would accept.  Except for more expensive books this is $1-2 off. 

I would add that one of the sales is for a book lot that FINALLY sold to someone after sending offers to multiple people over the past several weeks. On that one my offer was $2 off the asking price.

[sin-n-dex]

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@myboardid wrote:
How many offers did you send out, and how much of a deal did you offer them? I find that I get about one in 30 replies with an offer, but I don't drop my price a huge amount, as I already have the lowest prices for my items.

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I probably get 1 in 10. There seems to be a select handful of coins that keep getting watchers but no one is buying, even though I think the offer price is pretty good (the list price is good too as I dropped it over months), but the stubborn coins won't sell.

I had better success with offers earlier on, but I think it depends who's watching. Some people have put items on their watch list and waited intentionally for that offer to come in. Sometimes they watch 20 items, but then agree to buy 5 if they like my price.

I definitely don't have the best prices on my items, but I have a number of items that are difficult to find on eBay. Also I offer some really good shipping rates (especially if you want to buy a box of packaged coins), and I think my shipping policy helps me make sales.

C.

[upgradedendmills]

In the last couple of days you have made a post that you are concerned about having enough inventory. Why would anyone in that situation lower prices or make offers to watchers? Not being snarky, I might be looking at my inventory in the wrong way and your answer might help me to do better. Thanks.

[keziak]

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@upgradedendmills wrote:

In the last couple of days you have made a post that you are concerned about having enough inventory. Why would anyone in that situation lower prices or make offers to watchers? Not being snarky, I might be looking at my inventory in the wrong way and your answer might help me to do better. Thanks.

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Everyone's business practices are different. I do blow hot and hot on how much inventory I have. Right now I've burned through the better stuff. The rest is blah or extra work.

However,  I'm willing to deal for sales, a modest discount to make the buyers feel like they got a good deal and a sale for me. I'm not so confident that I have the "perfect"  prices so I am willing to allow discounts that feel reasonable and provide profit.

[upgradedendmills]

Thanks, that helps.

[chapeau-noir]

@upgradedendmills  There's also the fact that inventory that's not moving is tying up revenue - one might sacrifice 10-15% on a best offer, finally move that item to its new happy home, and can use the money from that to purchase more inventory. If one is keeping their eye open for more inventory, it's better to have the money free to purchase it, and not tied up in slow sellers.

At least that's how I look at it (and what I do - I'm close to running out of inventory, too, and may have to start arbitrage again).

[bar-29368]

I'm not even close to running out yet. I've been listing my butt off and still haven't made a noticeable dent in it. I just did photos for another 65 listings, so fingers crossed I start to see spaces happening soon.

And my sales are up 53% over last month which was a good one, so stuff is moving out the door, but not seeing a lot of empty space in the ebay room where the listed stuff is stored either.

Maybe it's like wire coat hangers left in a dark closet and it's just multiplying on it's own.

[chapeau-noir]

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@bar-29368 wrote:

I'm not even close to running out yet. I've been listing my butt off and still haven't made a noticeable dent in it. I just did photos for another 65 listings, so fingers crossed I start to see spaces happening soon.

And my sales are up 53% over last month which was a good one, so stuff is moving out the door, but not seeing a lot of empty space in the ebay room where the listed stuff is stored either.

Maybe it's like wire coat hangers left in a dark closet and it's just multiplying on it's own.

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ROFL - you can hear them clacking around in the closet at night...replicating.

For a while I was sure I had gnomes in my storage, manufacturing inventory.  Periodically I'd go down there and yell "Can't you guys make Demeulemeester and Prada instead of Croft and Barrow and White Stag??

[upgradedendmills]

The type of items you sell probably require a much larger investment than what I sell.  Also much different storage methods and space. 

     My comments to the OP were related only to books and meant to help. I used to sell books almost exclusively and still have a couple of thousand stored here. There used to be a very good market for books but it has changed drastically over the last few years. I did well with them at the time, but don't consider them as a worthwhile use of my time anymore.  

     I feel that in order for a bookseller to do well that they need a huge inventory that was purchased at very low prices and culled for the very best to keep and list, or a very selectively purchased inventory of a couple of hundred books that have a history of selling at a good margin. Buying books based on price alone creates a bunch of problems and detracts from actually making any money at it.

     Making offers to unknown watchers seems to me to be counter productive, especially if you have a dwindling inventory. I would take stale inventory and put it in lots of similar and sell it that way.  A more productive selling tool for books might be to offer the quickest shipping possible with "free shipping" built in to the price. Never, ever, use a "shipping partner" or anything else that slows down the process. The repeat business you will gain is well worth the investment.

     When I do sell books, they are assigned an inventory number and put in a covered tote with 30-50 other similar books and the tote is named. The books are stored this way in sealed, marked, poly bags or zip lock bags. Saves the frustration of looking through 100's of misc. books to find one that is sold.

     I sincerely hope this helps. It works for me.

[chapeau-noir]

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@upgradedendmills wrote:

The type of items you sell probably require a much larger investment than what I sell.  Also much different storage methods and space. 

     My comments to the OP were related only to books and meant to help. I used to sell books almost exclusively and still have a couple of thousand stored here. There used to be a very good market for books but it has changed drastically over the last few years. I did well with them at the time, but don't consider them as a worthwhile use of my time anymore.  

     I feel that in order for a bookseller to do well that they need a huge inventory that was purchased at very low prices and culled for the very best to keep and list, or a very selectively purchased inventory of a couple of hundred books that have a history of selling at a good margin. Buying books based on price alone creates a bunch of problems and detracts from actually making any money at it.

     Making offers to unknown watchers seems to me to be counter productive, especially if you have a dwindling inventory. I would take stale inventory and put it in lots of similar and sell it that way.  A more productive selling tool for books might be to offer the quickest shipping possible with "free shipping" built in to the price. Never, ever, use a "shipping partner" or anything else that slows down the process. The repeat business you will gain is well worth the investment.

     When I do sell books, they are assigned an inventory number and put in a covered tote with 30-50 other similar books and the tote is named. The books are stored this way in sealed, marked, poly bags or zip lock bags. Saves the frustration of looking through 100's of misc. books to find one that is sold.

     I sincerely hope this helps. It works for me.

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I understand - I used to sell books and also finally left the market because it was no longer worth the trouble - a lot depends on what books one can get and how one is set up to sell them, too.  Books were only one thing I sold and I'm certain if I sold only books I'd have a much more streamlined system adapted to it.  I was just giving another reason for deciding to get rid of certain inventory  - make space and free up some cash.

[upgradedendmills]

Thanks, not expecting others to adopt my methods or ideas, just trying to give the OP alternative ways to look at things concerning book sales. This discussion has gotten me motivated to sort through a bunch of 50 gallon totes and organize old books today. A few years ago I went to buying a few different kinds of vintage books on eBay and reselling them. Fairly steady revenue and limited space requirements. It is also a good way to skirt the 12% Media FVF's within the rules and still use Media shipping or 1st class at reasonable cost.

     The mega booksellers are shooting themselves in the foot with their shipping practices. I bought a book as a gift for my son on the 2nd that just arrived yesterday.  Obscene!!!!!!!!!, but does make normal sellers more competitive.