For some reason I've seen a lot of resellers that have this weird sense of pride where they say stuff like "oh I don't bother sourcing items that make me less than $30 in profit." And I think that's extremely arrogant. I totally understand that some folks have employees and overhead and $7 profit items may not be worth their time, but for someone with a single person operation working out of their home, $7 in profit for 3 minutes worth of work is always worth it. I've worked many minimum wage or low paying jobs in my life where I was earning $7-$10 per hour for work that was physically and emotionally exhausting. Anytime I earn a lower profit amount on an item I always think back to those times in my life. It makes me appreciate reselling and how much more fun, easy and enjoyable it is that any other form of employment I've ever had. Great video, man.
I don't really think it's arrogant to expect a certain price point we have figured out within my company that we need a $40 profit minimum because of our space constraints and our time there is a point to faster selling but I would rather sell one item with $40 profit then 10 items with a total of $40 profit. There are a lot of restraints in my business that you don't have to look into with the quick flip business but at the same time there's a lot of upside if you know what you're doing but it takes years to get to the point where we have gotten to. I generally sale between 20 and $30,000 per month with current volumes I don't think I could physically ship more than I already do just to make the same money
I totally agree with your theory of Quick flipping. I tell myself if I can make a $10 profit on 10 items every day I’m making 100 bucks a day. I think that’s pretty good. I really enjoy your videos.
I struggle with this though, especially because even if you price something on the lower end, people are going to make offers on it… so at what point should you take a sale and what point is it just devaluing the item? 🤷♀️
Yes I love flipping I just saw some of my items at 2-50 ahhh other sellers average price 15-20 on those items how are they getting away with this . Grrr it’s not good for people to make a living I just don’t get it how are they making money on this . Yes supply and demand.? I need reduce my prices to keep flow going thanks !, Yes big time feeling like that with many brands !
@@emilyhope7721 put it at the low end and NO offers. Offers just bug the crap out of me. Price it at the low end or even below everybody else’s, then don’t allow offers. It will go.
I can list about 10 clothing items per hour. My way of thinking, even if I only make a $5 profit per item, I’m potentially making $50 an hour. And try to keep in mind that we are in the reselling business, not the storage business. This helps me keep my business in perspective.
@@karenromero3290 I'm with you, I rush rush rush and still take 10-15 mins to list. Even if I find a sell similar item, it still takes me 10 mins with photos/measurements.
Hearing you talk about the value people attach to what they're selling reminds me so much of reading when these people get so offended by people giving them lowball offers, and they type out the breakdown of the percentage of what the site takes, the tax, the this that. and the other, as if it adds value to an item for a buyer. When I'm buying something, I don't care if you get 100% of my money for it, or only 20%. Basic economics.
Your content is so much more interesting than hauls and what solds. Though those are helpful too - appreciate you and hearing your thought process. Loving this strategy for myself.
I have a 12 tote clothing death ☠️ pile and I started pricing more competitively and things started selling and it has made me more motivated to keep working my death pile
As a reseller, I have been thinking about just this same issue. I think you are mostly right. If you have plenty of sourcing opportunities then you should absolutely try to maximize orders. You just need to think about the labor involved on average for each order, i.e. sourcing, listing, fulfillment, and calculate the profit per hour worked.
As emotional as it can be to price below your expectation, it feels crushing when an item still doesn't move even after you price it as near give away value or customers want an even bigger discount and the margins don't allow it. It can also feel like I am contributing to bottoming out prices in a particular market when I price on the bottom end.
Gosh I love how you put this so honestly. My business model is basically exactly like yours - I see a net profit of $7-15 on about 90% of my items but also about 75% of my items are sold within 60 days of listing. I spend LESS time thrifting than if I were being super particular about only picking items that made a higher profit therefore its a better way to spend my time. Thanks for making this video and busting the myth that there is more money in higher end sales.
Dude your Manifesto for Men's Clothing is insane. You have made this a study and it's so awesome to hear your intellect on these topics. Thanks for all the knowledge!
If your prices are the same as everyone else, it will take me a long time to decide which person to buy from. However, if you have what I want at a lower price then I'll be inclined to jump on it before someone else buys it.
I don’t have a problem selling my items for lower average sales price because my thrifts are so plentiful. I know I’ll find big dollar items every few weeks and it’s all about the averages. I pick up women’s Rothys brand shoes for $6.49 and sell them for considerably more so I too don’t mind selling a Robert Graham shirt for $25. I constantly have to remind myself to not get emotionally attached to the brand name or the idea of “what it should be worth”. Please keep up with your content. I would have never picked up a PFG 4X shirt and I did thanks to your videos. And it sold. In one hour.
Ive been watching several different sellers, all of whom use different selling models. So interesting! I sell mainly collectibles so quick flip seems to work less reliably as we often have to wait for the buyer who wants my particular thing which may be unique. Plus markets change. Im always learning and i get so much value from your videos. P.s. im not an angler but i understood your metaphor. Thanks!
As someone just re-entering the reselling game, I've been trying to find a model that works. I think this is the approach I'm going to use. Id rather make $10 quick than have to wait an extra month or 2 to get $15-20. I could miss out on so many good items waiting on that capital to reinvest. Your videos get better all the time. I appreciate all your wisdom.
How about waiting a year for it to sell? Excruciating! Clothing is the worst to sell because it takes so long to get views. The size matters, the style matters. I end up going to consignment stores with the clothing that doesn't sell.
the most important thing I've learned about reselling is to source as cheap as you can, especially if you're selling lower priced items, try to spend $2 maximum on any item you buy, avoid sourcing from thrift stores unless they're cheap, flea markets, garage sales and estate sales are the cheapest in most cases, if you have access to a Goodwill Outlet (some people call them the bins), I would suggest going there first, they sell by the pound, you can buy a pair of jeans for no more than $1.50, you will find better stuff at the Outlets than the regular retail stores because the items aren't cherry picked through before they are put out on the floor, all the clothes are in big bins that you dig through, it's not a convenient as flipping through racks, but when you consider you can either pay 50cents vs. $12 for a shirt, its kind of obvious which one is better as far as sourcing goes, it's also a good idea to not assume something will sell for whatever reason, I did that when I first started and learned quickly that making assumptions isn't very smart, I think any reseller you ask will tell you that you will have items that may take a year or years to sell, even if you have them price very low, thats why its a good idea to source as cheap as possible, you'll have a lot less "dead money" wrapped up in inventory in the case items dont sell quickly, quick flipping is a good concept but if are paying too much for single items, you might be paying what the sells for on the low end, or in some cases you might even be paying more, which kind of defeats the whole purpose, I try to never sell anything less than $20 at the very lowest, I sold cheaper items when I first started until I realized the amount of monkey hustling that it takes just to make $100, when I stopped selling cheaper items, I was to work less hours and make about 3 times more profit, I still work around 70 hours give or take a week, it seems like a lot of people think that reselling is easy money, if you any reseller, they will most likely tell you its not as easy or effortless as people think, it takes a lot of discipline and hours to make enough for living expenses unless you another source of monthly income as well, sometimes I miss having a real job, because no matter how much it sucks, you know you will get paid for the hours you work, there's no guarantees in reselling, you have an occasional day when you don't make any money even if you work 12 or more hours, that's just part of the deal, the best way to avoid those kind of days is to constantly be listing new items, if you dont list items constantly you won't do very well, shopping is far more fun in my opinion but if you source more than you list you will accumulate more inventory than you'd probably to like to have, that's another mistake Iearned the hard way, I wouldnt have ever thought clothes would take up as much space as they do, sometimes I think it wouldve been smarter to stamps or coins, it would take an awful lot of stamps or coins to completely fill 2 bedrooms and a garage
@@sonnyboy2040 You got it! That's truth , you can't pay 7.99 at the goodwill , you have to go to the bins or the Dusty thrift stores in the city on days when all cloths is a dollar or some by me do everything half off on the last Saturday of the month . Go.on days when it's dirt cheap and stock the f@k up.
I agree completely to an extent. I routinely find items that are deemed "impossible to find" these items should be at a premium because there aren't many (book sets over 1000$ or high end electronics etc). But for items that are bread and butter i sell quick flip always. Miss me womens jeans all day i price the quick flip batch them and dump them on ebay ship them on my next shipping day (3 day handling). Clothes, plush, media, anything that shipping is typically under 1 lb or has media rates is perfect for this model, and i love it! Especially if you list sunday night and work a FT also it makes Monday alot more fun, putting those wins on a monday can get you through the grind smiling cuz you made twice as much as anyone around you that day lol. Great metaphor!
I have been doing it this summer using high sell through combined with 5% promoted listings and I have not noticed ANY slowdown this summer at all. I have really implemented sell through into clothing and it has helped so much. I will take 7 to 10 dollars per sale for 100 sales over 15-20 per sale for 25 sales in the same amount of time with slower movers any day.
I think sometimes we get wrapped up in the hype of being able to say we paid a dollar for something and sold it for $50 or $100 or whatever, just to be able to say we did that huge, great thing. Personally, I would rather sell 10 things and make $10 on each one than wait however long for that same item to sell for $100. Like you said, most people are looking for a deal. If it truly is a collector's item, then mark it at collector prices. Otherwise, give the people what they want = a deal :)
I actually tend to disagree with this model of reselling in certain situations. I find that if an item has sold within an hour, then it was very likely priced too low. My opinion is that ~1-3 weeks is the golden spot to hit for me, and have managed about 250% store-wide sellthrough with this model. When dealing with oversaturated items (e.g. Tommy Bahama - as you mentioned, Untuckit, certain Levi's, etc.), I can definitely see how a 'quick flip' model would be beneficial. But, when it comes to niche, high-demand, high sell-through items, or just much rarer items, pricing near the high-end of the market has almost always worked for me. Just my 2 cents.
The gray box... great idea. Yes, I'm attached to my items... jewelry pieces. But you are so right, I really need to be unemotional about it!! Appreciate your fish analogies too!! Thank you!!
I look at it differently - I'm more interested in the longer quarter vs the quick nickel because what I'm trying to do is maximize my hourly rate and I'm willing to wait to get the higher hourly rate. If it takes me 12 minutes on average to process an item (shopping, listing, shipping) I'm willing to wait a few months to make $15 on the RG shirt vs $7 because that changes my hourly rate from $35 to $75. My business model can handle that because I have the space for storage and enough cash flow that keeping the capital tied up isn't a problem for me...and sometimes I end up having to drop the price on the RG shirt after keeping it for a long time to only make $7 anyway. There is no right or wrong way - it all depends on your particular situation. Thanks for sharing your thoughts.
What's the rush? Why kill the market value? I dunno 🥺? I can afford to wait since buying low and selling reasonably priced and people should aim for better returns on their money.
I always try to use the 100% rule. If I make 100% after expenses...I have been successful...no matter what the item is worth...it gets me nothing sitting in a box...
This is so true. It is hard to emotionally separate yourself from what you think an item should sell for, but I’ve been working on it lol. I had someone create a bundle of 2 items and total was $95. She sent me an offer for $50 and my first instinct was to counter but then I talked myself out of it and accepted. my cost of goods was only $7.50 so I still made a great return :)
Love these concepts. I've been going through the ups and downs of sell through rate. I've dabbled in what you refer to as quick flipping for higher end items like 200 and up. The lower end items I have a harder time quick flipping.
I find your videos very informative and have learned so much. I believe in the work smarter not harder approach and can’t justify buying a Robert graham shirt for $7 to flip for only $25. I am thankful that reselling offers more than 1 way to be successful. Congratulations on your success!
I have about 50/50. Quick flips and higher listing prices. Buuuuut that's because I keep finding luxury items near me. Or pricier items that aren't luxury. Both have worked out for me. Once I can't find luxury items anymore, I'm definitely all for the quick flips. Especially if you get a lot of them on the same sourcing trip to save time. It makes it worth it that way.
I love a good analogy! It really does help me fully learn and understand a concept. Now watch me butcher it while I try to impress my husband with a trout analogy 😂 Thank you for your knowledge and your time! I always try to contribute some kind of tip in my comments…..Some quick flips for me are: American Eagle jeans, lulus formal dresses, shackets, chore coats and anything Y2K right now!
I do quick flipping the exact same way. I have major doc and medication bills every month and don't have time to wait for something to sell at a high price. I start panicking if I don't make my quota. My quota is different from many, mine's to survive, literally. I enjoy your videos and the way you think.
Hmmmm I may need to start rethinking things. I just found 2 brand new in package designer sheets in my basement. I put them up on offer up for $15 then went to list it on ebay only to find out they were selling for over $60.! I listed it for $50 and before I could finish listing the second one someone bought it. I listed the second one for $56 because it was a larger size and within a half hour someone offered me $50. I Didn't take it .... I probably should have. We'll see what happens
With the huge amount of competition, I think your mentality for selling in volume is definitely the way to go. Great video. Definitely time to reset my mentality!!
Teaching my college student son what I know about eBay because typical student jobs don't offer as much potential profit and flexibility as reselling. Just yesterday I used the exact same investment analogy as you have in this vid to describe to him a different way of looking at reselling. Another way to look at it, the $20 I spend on sourced items, after reselling, pays for my $100 electric bill at a discount. It ceases to be important how much money you are making on an hourly basis and becomes a matter of return on investment with this mindset. And I agree that this is when reselling becomes fun and profitable!
I am having more success moving toward a quick flip model. But I had an Ariat western boot listed for $66. I got an offer for $40 which is probably what I would have charged a family member, but I counteroffered at $50. Shopper countered with her original $40 offer, so I shared it repeatedly to the TOP of my Poshmark closet and sold it for $60 to a new buyer same-day. So I find myself having a divide between what I will part with cheap and hold out for. But since I started my closet with donated items that divide was expected.
I agree with most of what you said. However, you really can't look at reselling as investing in my opinion. Investments don't take any significant amount of your time. Reselling is really selling your time and expertise. I think you really have to look at your time investment and then also consider how long it takes you to get paid. If I buy stuff for $1 and sell it for $5 I have a huge return on investment, but my hourly rate will probably be terrible.
The investment comes when you plough earnings back into the model and into your knowledge and experience. He is clearly doing that or he wouldn't be gaining more sales and making videos, which are co-investments. If you stack him up with all his experience against a same age dude just not really having a system and not bothering with lessons learned and research, this guy will outsell him consistently because he has invested in his skill set and connections and inventory of items and inventory of videos and he knows where and how to fish and he has a high work ethic and curious studious mind. Watch and see if he doesn't come back and share more on this topic.
I have a different vantage point on investments and time. Real estate is a huge investment area, bigger and bigger since the 00s recession, and many people both reno properties, which can take lots of time, and also rent out properties, which takes work and time. It’s a valid investment.
Not a resaler, but have been watching a few, even subscribed. As I move into retirement and care for aging parents, dispersing personal inventory seems relevant. My perspective is that most resellers want top dollar and are spear hunting not trout fishing. I enjoyed listening to your perspective. May I recommend the book "Essentialism", currently reading with recommendations by a Ebay reseller on TH-cam. 💞 😇💞
Hahaha i love the fish story. I had a similar experience in the tetons this past weekend. Also on a serious note, its a very true concept when it comes to sales and buyers
I’ve been sourcing men’s clothing ever since I found you and got your manifesto. I flipped about 20 pairs of men’s shorts and/or swim trunks in less than a month, my fastest and best sellers. Got my store moving after months of doldrums. I owe you a few coffees.
Thanks for this video, I am new to flipping and when I priced my items at their market value they were taking forever to sell, I was starting to become disheartened and even considered quitting this whole flipping thing, so I decided to which to quick flipping strategy and selling items under market value and now things sell fast, yes im leaving money on the table and it hurts but im actually enjoying reselling now, because I have sales taking place and profits coming in, even if they are smaller profits.
Love your videos, my sister A poshmark seller sent me to your channel. Bought a pair of waders for ten. Offers for 25 turned down more than one. Sales for 60 on Ebay. Still sitting after a month.
I think you're a 100% right to think about the motivations of the buyers. Looking back at my own buying history, you're right about that, too -- I'm either looking for a bargain on a known quantity, or I'm hoping to find something hard to find at a good price. So, yeah, this approach sounds dead right if you're looking to make a reliable return with fast turn around. Thanks for the straight talk, again.
My goal is $10 or more per item, so $7 isn't bad since I'd take offers for that. I will try to get a higher end or median price before I lower it enough to clear it though, I'm more than willing to let a good item sit up a couple weeks at fair value before I lower it. We have to remember sometimes the people that really want something (the right buyer) isn't scouting eBay the moment we post!
Brilliant advice. Thank you. What you described with the trout analogy was spot-on. When I first started purchasing on eBay, I had a certain price point, and it was generally clothing that interested me. If the one (or more) transactions went well, I saved that seller and continued to peruse their inventory--sometimes they had items that I _initially_ had zero intention of buying, but later ended up purchasing because of my experience with that first purchase. Some sellers went above and beyond, wrapping/folding the item (and sometimes including a note) so nicely that I appreciated that effort and vowed to give them business if something of theirs caught my eye. I know how time-consuming this is/was. I would go on to purchase big-ticket items from those sellers.
I live in a small town in Alabama and came home yesterday with a bag full of stuff that has over 100% sell through rate. IronHeart, Buck Mason, and more. This isn’t California, but this proves the good stuff is everywhere. Thanks for the great content.
How do you juggle the time is money concept with quick flipping? The investment return doesn't just involve COG, but your time as well. I find it incredibly demoralizing to make only $7-10 on an item that I've spent a time investment on. This seems like the struggle. How much time is worth spending on sourcing, maybe cleaning, steaming, photos, measuring, listing, shipping etc. for a lower return? That is the balancing act that I think of more than the emotional aspect. Any input is appreciated.
The balance is going to be different for each of us. Some find it equally demoralizing to sit on something for 3 months or more waiting for the right buyer. Each seller has to find their own balance. I have a (relatively) large eBay account selling one type of goods. I’m good at it, and have 500-1000 listing at a given time, with an average of 15 sales a day at a high profit per item. But I’m in a position to buy at $100 and sell at $180 for example-I have the capital to do so. My average sale is over $100. I can wait for the right buyer and price things at the high end. But I built it that way. It was a long process, building the inventory and reinvesting every dollar of profit back into inventory until it was self sustaining. My model is not for everyone. There are variables such as how much inventory can you obtain, how much inventory can you house, how long can you wait before pulling the profits for yourself, and how much time can you devote to the endeavor. Matt does a good job of explaining why his model works for him. He’s done the math and figured where his personal threshold is for time invested. There are countless ways to do it. There are advantages to his model. The faster turnover of product results in a cash flow that allows one to reinvest quickly. If you’re depleted and your cash is all tied up in inventory, you may miss opportunities. You’ll become very good at what you do. More product movement means more listing, and the time invested per piece starts to go down. You’ll become more and more efficient at all aspects of your business. You’ll also have more sales to absorb the inevitable mishaps and negative feedback, staying above the line with respect to metrics. Additionally, more sales tends to positively impact attitude and motivation. It’s harder to stay motivated when there’s a trickle of sales. Like you said, cleaning/steaming/listing is a process that takes time. So perhaps one would begin to invest in things that didn’t require as much labor to get ready to sell. Maybe the scope of potential items you buy for resale becomes larger because now you’re willing to sell for less profit, increasing inventory and positively impacting for reasons already stated. I hope you find your balance.
I like this line of thinking. I'm primarily a Poshmark seller. What strategy would you suggest for the Poshmark platform. They have higher fees-20%. Most buyers there expect offers.I see very few outright purchases. If you use the offer to liker feature it is a minimum 10% discount (I usually offer 20%) and a mandatory shipping discount. This is why people on that platform price higher to ensure you are still selling at a profit. I would love to price, no BS, quick flip. I just don't know how to work it on Posh.
I think whatever method keeps your energy and fun levels up is a good one. (100% Agree about emotional attachment btw - if we can liberate ourselves from linking our self-esteem to pricing, or brands we like, I think things get easier).
My father loved fishing trout. I totally got what you were saying and as a long time ebay seller of 18 years I agree! Do you want $25 now or $35 in 2 years? That $25 can buy 4-5 quality items at the next yard sale.
I needed to hear this because I tend to think my stuff is gold and price higher than I should and turned down offers... Or account to offer and then they get uninterested... But at the same time I list a lot less than the average person cause I do it part time but I need to start listing a lot more to make some extra money so this is a good idea because I have a huge death pile a 10 by 40 container full
Thanks! I’ve been moving in the quick flip direction and my sales and profit have increased greatly. Your rationale makes perfect sense to me where I’m at right now. BTW now I’m craving fresh trout! Gosh darn, I’m hungry.
Enjoying this vid. Just getting started and did just what you are describing. Priced a bit below average and all sold fast. Great to get start up cash. I prefer this quick flip way. I am rather impatient.
With inflation pricing everyday items higher and higher, I think people will go back to looking online for better deals. Love your methods. I'm starting in February.
You’re awesome. I like you!!! I’ve sold 400! In 6 months so I get what you mean about quick flipping. I think what I’ve learned so far is take that shot but don’t wallow in my expectations. Keep it moving!!! Stacey in Vegas
Your model is 100% true. I've been reducing my prices with no offer, but with free shipping. I want the quick flip and not to wait months for my items to sell for the full asking price. I want the income coming in fast.
Between this and the burnout video, I really appreciate both. Dig the honesty and viewpoint, this is the type of stuff I, personally, find helpful. Thank you
I agree with you. I do the same thing. I need the quick flips to keep merchandise moving and to get money back to keep going. It builds momentum and excitement.
THANK YOU for this!!! - I have been a FB seller (private group) for several years now and I am considered a low dollar seller. I am used to selling 400-600 items every two weeks, all low dollar and that is why they sell, because I keep my prices very low plus still make a profit. - I've decided after 2 years that I am going back to ebay for a while, because whereas the low dollar selling has paid the bills well enough, I also work my butt off. So I want to go back to ebay for some higher priced items to lessen the load a little. - I came in to a huge haul of very nice higher name brand big mens clothes so I will be going back to ebay with those. And I have struggled as I get ready to list with two things. ------- Do I price them in the same higher range as other sellers or do I lower my price to flip them quicker. AND.........SPACE. My home is small and there are two of us here and I'm finding that my death piles are absolutely taking over the house. I don't want to sit on stuff for months on end. I need/want it to move relatively quick so I can not overwhelm the household and still be able to continue to source before winter. - I say all of this to say thank you, I needed to hear these words today.
![These Clothing Brands Are Flipping At Warp Speed [WHAT SOLD]](http://i.ytimg.com/vi/cBtfPeTjdTA/mqdefault.jpg)
For some reason I've seen a lot of resellers that have this weird sense of pride where they say stuff like "oh I don't bother sourcing items that make me less than $30 in profit." And I think that's extremely arrogant. I totally understand that some folks have employees and overhead and $7 profit items may not be worth their time, but for someone with a single person operation working out of their home, $7 in profit for 3 minutes worth of work is always worth it.
I've worked many minimum wage or low paying jobs in my life where I was earning $7-$10 per hour for work that was physically and emotionally exhausting. Anytime I earn a lower profit amount on an item I always think back to those times in my life. It makes me appreciate reselling and how much more fun, easy and enjoyable it is that any other form of employment I've ever had.
Great video, man.
I agree with what you have said totally!!! 👍🙂
Great way of looking at it Hairy Tornado
Also love you channel Hairy Tornado
I agree
I don't really think it's arrogant to expect a certain price point we have figured out within my company that we need a $40 profit minimum because of our space constraints and our time there is a point to faster selling but I would rather sell one item with $40 profit then 10 items with a total of $40 profit. There are a lot of restraints in my business that you don't have to look into with the quick flip business but at the same time there's a lot of upside if you know what you're doing but it takes years to get to the point where we have gotten to. I generally sale between 20 and $30,000 per month with current volumes I don't think I could physically ship more than I already do just to make the same money
I totally agree with your theory of Quick flipping. I tell myself if I can make a $10 profit on 10 items every day I’m making 100 bucks a day. I think that’s pretty good. I really enjoy your videos.
I struggle with this though, especially because even if you price something on the lower end, people are going to make offers on it… so at what point should you take a sale and what point is it just devaluing the item? 🤷♀️
I’m up to five today so far. As I stack them and tell my girlfriend.” I want to take this opportunity to make a point and to brag a little!”
@@emilyhope7721 Exactly.
Yes I love flipping I just saw some of my items at 2-50 ahhh other sellers average price 15-20 on those items how are they getting away with this . Grrr it’s not good for people to make a living I just don’t get it how are they making money on this . Yes supply and demand.? I need reduce my prices to keep flow going thanks !, Yes big time feeling like that with many brands !
@@emilyhope7721 put it at the low end and NO offers. Offers just bug the crap out of me. Price it at the low end or even below everybody else’s, then don’t allow offers. It will go.
I can list about 10 clothing items per hour. My way of thinking, even if I only make a $5 profit per item, I’m potentially making $50 an hour. And try to keep in mind that we are in the reselling business, not the storage business. This helps me keep my business in perspective.
Why does it take me at least an hour to post one thing? Taking pictures, measuring, and filling in description takes me forever.
@@karenromero3290 I'm with you, I rush rush rush and still take 10-15 mins to list. Even if I find a sell similar item, it still takes me 10 mins with photos/measurements.
I’ve dropped prices low and the item still sits there so I raise it higher.
Hearing you talk about the value people attach to what they're selling reminds me so much of reading when these people get so offended by people giving them lowball offers, and they type out the breakdown of the percentage of what the site takes, the tax, the this that. and the other, as if it adds value to an item for a buyer. When I'm buying something, I don't care if you get 100% of my money for it, or only 20%. Basic economics.
You're so right. Emotion is our biggest enemy in reselling. I'm going to keep your words top of mind. Thanks for sharing.
Your content is so much more interesting than hauls and what solds. Though those are helpful too - appreciate you and hearing your thought process. Loving this strategy for myself.
I have a 12 tote clothing death ☠️ pile and I started pricing more competitively and things started selling and it has made me more motivated to keep working my death pile
Keep going 💪
As a reseller, I have been thinking about just this same issue. I think you are mostly right. If you have plenty of sourcing opportunities then you should absolutely try to maximize orders. You just need to think about the labor involved on average for each order, i.e. sourcing, listing, fulfillment, and calculate the profit per hour worked.
As emotional as it can be to price below your expectation, it feels crushing when an item still doesn't move even after you price it as near give away value or customers want an even bigger discount and the margins don't allow it.
It can also feel like I am contributing to bottoming out prices in a particular market when I price on the bottom end.
Gosh I love how you put this so honestly. My business model is basically exactly like yours - I see a net profit of $7-15 on about 90% of my items but also about 75% of my items are sold within 60 days of listing. I spend LESS time thrifting than if I were being super particular about only picking items that made a higher profit therefore its a better way to spend my time. Thanks for making this video and busting the myth that there is more money in higher end sales.
I love how it feels like a genuine conversations listening to your video's... Instant subscription for how genuine you are.
Dude your Manifesto for Men's Clothing is insane. You have made this a study and it's so awesome to hear your intellect on these topics. Thanks for all the knowledge!
If your prices are the same as everyone else, it will take me a long time to decide which person to buy from. However, if you have what I want at a lower price then I'll be inclined to jump on it before someone else buys it.
I don’t have a problem selling my items for lower average sales price because my thrifts are so plentiful. I know I’ll find big dollar items every few weeks and it’s all about the averages. I pick up women’s Rothys brand shoes for $6.49 and sell them for considerably more so I too don’t mind selling a Robert Graham shirt for $25. I constantly have to remind myself to not get emotionally attached to the brand name or the idea of “what it should be worth”. Please keep up with your content. I would have never picked up a PFG 4X shirt and I did thanks to your videos. And it sold. In one hour.
Ive been watching several different sellers, all of whom use different selling models. So interesting! I sell mainly collectibles so quick flip seems to work less reliably as we often have to wait for the buyer who wants my particular thing which may be unique. Plus markets change. Im always learning and i get so much value from your videos. P.s. im not an angler but i understood your metaphor. Thanks!
As someone just re-entering the reselling game, I've been trying to find a model that works. I think this is the approach I'm going to use. Id rather make $10 quick than have to wait an extra month or 2 to get $15-20. I could miss out on so many good items waiting on that capital to reinvest.
Your videos get better all the time. I appreciate all your wisdom.
How about waiting a year for it to sell? Excruciating! Clothing is the worst to sell because it takes so long to get views. The size matters, the style matters. I end up going to consignment stores with the clothing that doesn't sell.
@@Chicago48 I'll keep consignments in mind for what doesn't sell. Thanks for the idea.
the most important thing I've learned about reselling is to source as cheap as you can, especially if you're selling lower priced items, try to spend $2 maximum on any item you buy, avoid sourcing from thrift stores unless they're cheap, flea markets, garage sales and estate sales are the cheapest in most cases, if you have access to a Goodwill Outlet (some people call them the bins), I would suggest going there first, they sell by the pound, you can buy a pair of jeans for no more than $1.50, you will find better stuff at the Outlets than the regular retail stores because the items aren't cherry picked through before they are put out on the floor, all the clothes are in big bins that you dig through, it's not a convenient as flipping through racks, but when you consider you can either pay 50cents vs. $12 for a shirt, its kind of obvious which one is better as far as sourcing goes, it's also a good idea to not assume something will sell for whatever reason, I did that when I first started and learned quickly that making assumptions isn't very smart, I think any reseller you ask will tell you that you will have items that may take a year or years to sell, even if you have them price very low, thats why its a good idea to source as cheap as possible, you'll have a lot less "dead money" wrapped up in inventory in the case items dont sell quickly, quick flipping is a good concept but if are paying too much for single items, you might be paying what the sells for on the low end, or in some cases you might even be paying more, which kind of defeats the whole purpose, I try to never sell anything less than $20 at the very lowest, I sold cheaper items when I first started until I realized the amount of monkey hustling that it takes just to make $100, when I stopped selling cheaper items, I was to work less hours and make about 3 times more profit, I still work around 70 hours give or take a week, it seems like a lot of people think that reselling is easy money, if you any reseller, they will most likely tell you its not as easy or effortless as people think, it takes a lot of discipline and hours to make enough for living expenses unless you another source of monthly income as well, sometimes I miss having a real job, because no matter how much it sucks, you know you will get paid for the hours you work, there's no guarantees in reselling, you have an occasional day when you don't make any money even if you work 12 or more hours, that's just part of the deal, the best way to avoid those kind of days is to constantly be listing new items, if you dont list items constantly you won't do very well, shopping is far more fun in my opinion but if you source more than you list you will accumulate more inventory than you'd probably to like to have, that's another mistake Iearned the hard way, I wouldnt have ever thought clothes would take up as much space as they do, sometimes I think it wouldve been smarter to stamps or coins, it would take an awful lot of stamps or coins to completely fill 2 bedrooms and a garage
@@sonnyboy2040 very informative thanks!!
@@sonnyboy2040 You got it! That's truth , you can't pay 7.99 at the goodwill , you have to go to the bins or the Dusty thrift stores in the city on days when all cloths is a dollar or some by me do everything half off on the last Saturday of the month . Go.on days when it's dirt cheap and stock the f@k up.
Just curious - how many active listings do you have and how many items do you believe you can store? Thanks!
FOLLOWING !
I agree completely to an extent. I routinely find items that are deemed "impossible to find" these items should be at a premium because there aren't many (book sets over 1000$ or high end electronics etc). But for items that are bread and butter i sell quick flip always. Miss me womens jeans all day i price the quick flip batch them and dump them on ebay ship them on my next shipping day (3 day handling). Clothes, plush, media, anything that shipping is typically under 1 lb or has media rates is perfect for this model, and i love it! Especially if you list sunday night and work a FT also it makes Monday alot more fun, putting those wins on a monday can get you through the grind smiling cuz you made twice as much as anyone around you that day lol. Great metaphor!
I have been doing it this summer using high sell through combined with 5% promoted listings and I have not noticed ANY slowdown this summer at all. I have really implemented sell through into clothing and it has helped so much. I will take 7 to 10 dollars per sale for 100 sales over 15-20 per sale for 25 sales in the same amount of time with slower movers any day.
I’ve always said “a short nickel beats a long dime”
I think sometimes we get wrapped up in the hype of being able to say we paid a dollar for something and sold it for $50 or $100 or whatever, just to be able to say we did that huge, great thing. Personally, I would rather sell 10 things and make $10 on each one than wait however long for that same item to sell for $100. Like you said, most people are looking for a deal. If it truly is a collector's item, then mark it at collector prices. Otherwise, give the people what they want = a deal :)
I actually tend to disagree with this model of reselling in certain situations. I find that if an item has sold within an hour, then it was very likely priced too low. My opinion is that ~1-3 weeks is the golden spot to hit for me, and have managed about 250% store-wide sellthrough with this model. When dealing with oversaturated items (e.g. Tommy Bahama - as you mentioned, Untuckit, certain Levi's, etc.), I can definitely see how a 'quick flip' model would be beneficial. But, when it comes to niche, high-demand, high sell-through items, or just much rarer items, pricing near the high-end of the market has almost always worked for me. Just my 2 cents.
You are a great teacher! Thanks for your time. I will certainly use your flip method
another video with great insight. should be required watching for ebay sellers.
The gray box... great idea. Yes, I'm attached to my items... jewelry pieces. But you are so right, I really need to be unemotional about it!! Appreciate your fish analogies too!! Thank you!!
I look at it differently - I'm more interested in the longer quarter vs the quick nickel because what I'm trying to do is maximize my hourly rate and I'm willing to wait to get the higher hourly rate. If it takes me 12 minutes on average to process an item (shopping, listing, shipping) I'm willing to wait a few months to make $15 on the RG shirt vs $7 because that changes my hourly rate from $35 to $75.
My business model can handle that because I have the space for storage and enough cash flow that keeping the capital tied up isn't a problem for me...and sometimes I end up having to drop the price on the RG shirt after keeping it for a long time to only make $7 anyway.
There is no right or wrong way - it all depends on your particular situation. Thanks for sharing your thoughts.
What's the rush? Why kill the market value? I dunno 🥺? I can afford to wait since buying low and selling reasonably priced and people should aim for better returns on their money.
I always try to use the 100% rule. If I make 100% after expenses...I have been successful...no matter what the item is worth...it gets me nothing sitting in a box...
This is so true. It is hard to emotionally separate yourself from what you think an item should sell for, but I’ve been working on it lol. I had someone create a bundle of 2 items and total was $95. She sent me an offer for $50 and my first instinct was to counter but then I talked myself out of it and accepted. my cost of goods was only $7.50 so I still made a great return :)
Love these concepts. I've been going through the ups and downs of sell through rate. I've dabbled in what you refer to as quick flipping for higher end items like 200 and up. The lower end items I have a harder time quick flipping.
I find your videos very informative and have learned so much. I believe in the work smarter not harder approach and can’t justify buying a Robert graham shirt for $7 to flip for only $25. I am thankful that reselling offers more than 1 way to be successful. Congratulations on your success!
I have about 50/50. Quick flips and higher listing prices. Buuuuut that's because I keep finding luxury items near me. Or pricier items that aren't luxury. Both have worked out for me. Once I can't find luxury items anymore, I'm definitely all for the quick flips. Especially if you get a lot of them on the same sourcing trip to save time. It makes it worth it that way.
Awesome tutorial filled with great stories.....especially the gray cube lol! Thanks so much for all your wisdom!
I love a good analogy! It really does help me fully learn and understand a concept. Now watch me butcher it while I try to impress my husband with a trout analogy 😂
Thank you for your knowledge and your time! I always try to contribute some kind of tip in my comments…..Some quick flips for me are: American Eagle jeans, lulus formal dresses, shackets, chore coats and anything Y2K right now!
I like the fishing analogy, someone once told me its better to make quick nickles then slow dollars.
Very helpful! Thanks Matt! Appreciate the little lint speck on the beanie...😄
I do quick flipping the exact same way. I have major doc and medication bills every month and don't have time to wait for something to sell at a high price. I start panicking if I don't make my quota. My quota is different from many, mine's to survive, literally. I enjoy your videos and the way you think.
Good thoughts going out to you 😊
Hmmmm I may need to start rethinking things. I just found 2 brand new in package designer sheets in my basement. I put them up on offer up for $15 then went to list it on ebay only to find out they were selling for over $60.! I listed it for $50 and before I could finish listing the second one someone bought it. I listed the second one for $56 because it was a larger size and within a half hour someone offered me $50. I Didn't take it .... I probably should have. We'll see what happens
Hope you feel better soon!
With the huge amount of competition, I think your mentality for selling in volume is definitely the way to go. Great video. Definitely time to reset my mentality!!
Teaching my college student son what I know about eBay because typical student jobs don't offer as much potential profit and flexibility as reselling. Just yesterday I used the exact same investment analogy as you have in this vid to describe to him a different way of looking at reselling. Another way to look at it, the $20 I spend on sourced items, after reselling, pays for my $100 electric bill at a discount. It ceases to be important how much money you are making on an hourly basis and becomes a matter of return on investment with this mindset. And I agree that this is when reselling becomes fun and profitable!
I am having more success moving toward a quick flip model. But I had an Ariat western boot listed for $66. I got an offer for $40 which is probably what I would have charged a family member, but I counteroffered at $50. Shopper countered with her original $40 offer, so I shared it repeatedly to the TOP of my Poshmark closet and sold it for $60 to a new buyer same-day. So I find myself having a divide between what I will part with cheap and hold out for. But since I started my closet with donated items that divide was expected.
High volume, lower margin. Makes total sense.
Funny, it’s like you were talking directly to me! Thank you!!
Love your content! You are realistic and honest.. no bs. I appreciate your business model and I'm learning so much!
I agree with most of what you said. However, you really can't look at reselling as investing in my opinion. Investments don't take any significant amount of your time. Reselling is really selling your time and expertise. I think you really have to look at your time investment and then also consider how long it takes you to get paid. If I buy stuff for $1 and sell it for $5 I have a huge return on investment, but my hourly rate will probably be terrible.
The investment comes when you plough earnings back into the model and into your knowledge and experience. He is clearly doing that or he wouldn't be gaining more sales and making videos, which are co-investments. If you stack him up with all his experience against a same age dude just not really having a system and not bothering with lessons learned and research, this guy will outsell him consistently because he has invested in his skill set and connections and inventory of items and inventory of videos and he knows where and how to fish and he has a high work ethic and curious studious mind. Watch and see if he doesn't come back and share more on this topic.
I have a different vantage point on investments and time. Real estate is a huge investment area, bigger and bigger since the 00s recession, and many people both reno properties, which can take lots of time, and also rent out properties, which takes work and time. It’s a valid investment.
I see it part daily grind, part investing.
Not a resaler, but have been watching a few, even subscribed. As I move into retirement and care for aging parents, dispersing personal inventory seems relevant. My perspective is that most resellers want top dollar and are spear hunting not trout fishing. I enjoyed listening to your perspective. May I recommend the book "Essentialism", currently reading with recommendations by a Ebay reseller on TH-cam. 💞 😇💞
Hahaha i love the fish story. I had a similar experience in the tetons this past weekend. Also on a serious note, its a very true concept when it comes to sales and buyers
I like the way you carry yourself sir, I’m a big fan of your channel. Keep up the good work
Great advice. I feel the struggle. But you are right!! Thank you for making feel better
Listening to this video as I list a bunch of aluminum foil scrunched into balls 😂
Lots of good points!
@@helpfulcommenter did you watch the video? Lol. There's a part where he talks about scrunched up aluminum foil.
@@helpfulcommenter i end up watching most videos on 2x speed tbh lol
@@helpfulcommenter yeah, i sell clothes on ebay and depop mostly. What about you?
I love your approach and I couldn't agree more. I don't want to run a 100000 item store and keep expanding my storage.
It works. Nuff said. Loved the trout analogy.
I’ve been sourcing men’s clothing ever since I found you and got your manifesto. I flipped about 20 pairs of men’s shorts and/or swim trunks in less than a month, my fastest and best sellers. Got my store moving after months of doldrums. I owe you a few coffees.
Sweet, you owe me nothing. Love getting comments like this. Congrats on the sales.
@@ThriftALife Too late. A promise is a promise!
Yes. You are so right. Thank you.
Thanks for this video, I am new to flipping and when I priced my items at their market value they were taking forever to sell, I was starting to become disheartened and even considered quitting this whole flipping thing, so I decided to which to quick flipping strategy and selling items under market value and now things sell fast, yes im leaving money on the table and it hurts but im actually enjoying reselling now, because I have sales taking place and profits coming in, even if they are smaller profits.
Love the fishing story. I get it, thank you ! Leslye
Just... WOW. I REALLY need to hear this today. I wish that you had a coaching/mentoring program. This is the most valuable reselling wisdom available.
P.S. If you ever decide to venture into mentoring, sign me up!
i agree with you. i learn so much here and I like the real talk.
Love your videos, my sister A poshmark seller sent me to your channel. Bought a pair of waders for ten. Offers for 25 turned down more than one. Sales for 60 on Ebay. Still sitting after a month.
$ is $...no matter if it is even just doubling your investment. Love this channel. Truth here.
I have been bnige watching your videos. This one is so far the best! Great advice and metaphor.
I think you're a 100% right to think about the motivations of the buyers. Looking back at my own buying history, you're right about that, too -- I'm either looking for a bargain on a known quantity, or I'm hoping to find something hard to find at a good price. So, yeah, this approach sounds dead right if you're looking to make a reliable return with fast turn around. Thanks for the straight talk, again.
My goal is $10 or more per item, so $7 isn't bad since I'd take offers for that. I will try to get a higher end or median price before I lower it enough to clear it though, I'm more than willing to let a good item sit up a couple weeks at fair value before I lower it. We have to remember sometimes the people that really want something (the right buyer) isn't scouting eBay the moment we post!
Brilliant approach to reselling. I have hundreds of "C.O.G.s = 50 cent" items to clearly make a $8 to $10 profit. Good enough for me to flip quick.
Brilliant advice. Thank you.
What you described with the trout analogy was spot-on. When I first started purchasing on eBay, I had a certain price point, and it was generally clothing that interested me. If the one (or more) transactions went well, I saved that seller and continued to peruse their inventory--sometimes they had items that I _initially_ had zero intention of buying, but later ended up purchasing because of my experience with that first purchase. Some sellers went above and beyond, wrapping/folding the item (and sometimes including a note) so nicely that I appreciated that effort and vowed to give them business if something of theirs caught my eye. I know how time-consuming this is/was. I would go on to purchase big-ticket items from those sellers.
Whats a quick flip video without a fishing metaphor! I love the quick flip....in and gone thanks Matt!
I live in a small town in Alabama and came home yesterday with a bag full of stuff that has over 100% sell through rate. IronHeart, Buck Mason, and more. This isn’t California, but this proves the good stuff is everywhere. Thanks for the great content.
Lol. Having written and published a fishing book - and being brand-new to reselling - I loved this analogy!
How do you prepare clothing for resale. Do you wash and iron to freshen. Thanks for your advice, appreciated.
How do you juggle the time is money concept with quick flipping? The investment return doesn't just involve COG, but your time as well. I find it incredibly demoralizing to make only $7-10 on an item that I've spent a time investment on. This seems like the struggle. How much time is worth spending on sourcing, maybe cleaning, steaming, photos, measuring, listing, shipping etc. for a lower return? That is the balancing act that I think of more than the emotional aspect. Any input is appreciated.
The balance is going to be different for each of us. Some find it equally demoralizing to sit on something for 3 months or more waiting for the right buyer. Each seller has to find their own balance.
I have a (relatively) large eBay account selling one type of goods. I’m good at it, and have 500-1000 listing at a given time, with an average of 15 sales a day at a high profit per item. But I’m in a position to buy at $100 and sell at $180 for example-I have the capital to do so. My average sale is over $100. I can wait for the right buyer and price things at the high end. But I built it that way. It was a long process, building the inventory and reinvesting every dollar of profit back into inventory until it was self sustaining. My model is not for everyone.
There are variables such as how much inventory can you obtain, how much inventory can you house, how long can you wait before pulling the profits for yourself, and how much time can you devote to the endeavor.
Matt does a good job of explaining why his model works for him. He’s done the math and figured where his personal threshold is for time invested. There are countless ways to do it. There are advantages to his model. The faster turnover of product results in a cash flow that allows one to reinvest quickly. If you’re depleted and your cash is all tied up in inventory, you may miss opportunities. You’ll become very good at what you do. More product movement means more listing, and the time invested per piece starts to go down. You’ll become more and more efficient at all aspects of your business. You’ll also have more sales to absorb the inevitable mishaps and negative feedback, staying above the line with respect to metrics. Additionally, more sales tends to positively impact attitude and motivation. It’s harder to stay motivated when there’s a trickle of sales.
Like you said, cleaning/steaming/listing is a process that takes time. So perhaps one would begin to invest in things that didn’t require as much labor to get ready to sell. Maybe the scope of potential items you buy for resale becomes larger because now you’re willing to sell for less profit, increasing inventory and positively impacting for reasons already stated.
I hope you find your balance.
I totally agree. Gas spent to go to thrift store and then to post office
I only came by for the analogy clickbait, but stopped and learned tons. Good luck - loved the perspective you gave me.
Love the perspective! Helpful to have someone articulate a practice that a reseller crosses naturally now and then.
I just found you and I love everything about this video.
Excellent advice thanks.
I love that you are talking about the emotional aspect of selling. I thought I was just a tripper… hehe Thanks brother!
I like this line of thinking. I'm primarily a Poshmark seller. What strategy would you suggest for the Poshmark platform. They have higher fees-20%. Most buyers there expect offers.I see very few outright purchases. If you use the offer to liker feature it is a minimum 10% discount (I usually offer 20%) and a mandatory shipping discount. This is why people on that platform price higher to ensure you are still selling at a profit. I would love to price, no BS, quick flip. I just don't know how to work it on Posh.
I think whatever method keeps your energy and fun levels up is a good one. (100% Agree about emotional attachment btw - if we can liberate ourselves from linking our self-esteem to pricing, or brands we like, I think things get easier).
I have definitely been holding on way to hard for the extra few bucks. Thanks for the eye opener!!
Some great advice thanks
Wow, I can relate......thank you!!!
My father loved fishing trout. I totally got what you were saying and as a long time ebay seller of 18 years I agree! Do you want $25 now or $35 in 2 years? That $25 can buy 4-5 quality items at the next yard sale.
Foil rolled into a ball is just about every cat's idea of a good time!
I needed to hear this because I tend to think my stuff is gold and price higher than I should and turned down offers... Or account to offer and then they get uninterested... But at the same time I list a lot less than the average person cause I do it part time but I need to start listing a lot more to make some extra money so this is a good idea because I have a huge death pile a 10 by 40 container full
Well said. Thank you for making this video
Thanks! I’ve been moving in the quick flip direction and my sales and profit have increased greatly. Your rationale makes perfect sense to me where I’m at right now. BTW now I’m craving fresh trout! Gosh darn, I’m hungry.
Enjoying this vid. Just getting started and did just what you are describing. Priced a bit below average and all sold fast. Great to get start up cash. I prefer this quick flip way. I am rather impatient.
I needed to hear this. Thank you!
Amazing trout analogy ❤️
Awesome. Your so right we get attach to our items we drift. N we don’t want to let for cheap
With inflation pricing everyday items higher and higher, I think people will go back to looking online for better deals. Love your methods. I'm starting in February.
You’re awesome. I like you!!! I’ve sold 400! In 6 months so I get what you mean about quick flipping. I think what I’ve learned so far is take that shot but don’t wallow in my expectations. Keep it moving!!!
Stacey in Vegas
Your model is 100% true. I've been reducing my prices with no offer, but with free shipping. I want the quick flip and not to wait months for my items to sell for the full asking price. I want the income coming in fast.
Great video, just summed up my approach to selling, thanks for all the info
Between this and the burnout video, I really appreciate both. Dig the honesty and viewpoint, this is the type of stuff I, personally, find helpful. Thank you
This is an amazing video. It really changed my psychology re sales
I’m not a fisher person and your fishing story was so hard to pay attention to that I watched the whole thing and I’m now a fisher person
May I ask what steamer to use...I'm new!
I agree with you. I do the same thing. I need the quick flips to keep merchandise moving and to get money back to keep going. It builds momentum and excitement.
Holy crap! Little white speck... You got a subscriber! Plus Hairy Tornado weighed in :)
in business you can only prosper when you deliver more value to the customer than what you ask for
THANK YOU for this!!! - I have been a FB seller (private group) for several years now and I am considered a low dollar seller. I am used to selling 400-600 items every two weeks, all low dollar and that is why they sell, because I keep my prices very low plus still make a profit. - I've decided after 2 years that I am going back to ebay for a while, because whereas the low dollar selling has paid the bills well enough, I also work my butt off. So I want to go back to ebay for some higher priced items to lessen the load a little. - I came in to a huge haul of very nice higher name brand big mens clothes so I will be going back to ebay with those. And I have struggled as I get ready to list with two things. ------- Do I price them in the same higher range as other sellers or do I lower my price to flip them quicker. AND.........SPACE. My home is small and there are two of us here and I'm finding that my death piles are absolutely taking over the house. I don't want to sit on stuff for months on end. I need/want it to move relatively quick so I can not overwhelm the household and still be able to continue to source before winter. - I say all of this to say thank you, I needed to hear these words today.
where can I buy a bulk of poly Mailers for cheap amount?
Great advice, I needed to hear that