Ive been selling part time for a couple of years. I'm taking all that I've been learning from your channel & I'm redoing my business plan & revamping my stores (3 of them) to prepare to go full time heading into 2022 😎 I am pumped!! And hey Thanks for all you & your guests for sharing informational content. Its Much Appreciated! 😉
10:16 On Ebay you can use your available balance to pay for your shipping label, but I recommend that you hook it up to a credit card in credit card points, so for me personally, my credit card points are more than forty thousand dollars a year or so. If he was single he could live 100% off of his credit card rewards. He could live tax free because cash back rewards are not taxable by his credit card company, they don't actually issue anything to the IRS for credit card rewards, because the IRS considers it a discount and not revenue.
Ebay is always getting worse for their original sellers. I was doing a lot more 20 years ago. They get too much for too little. As a seller if I made a tiny mistake in a listing, it cost me a profit. I must have enough pictures and a PERFECT description because buyers expect new items when I only sell used parts. All the buyer has to do is tell ebay "not as described" and I have to return and lose shipping both ways!
I have a full time job and do ebay when I can for extra money. Unfortunately between ebay's policies and increased shipping, casual sellers are being weeded out.
The 20k to 600 dollar tax bs basically killed me. I sold about 15-17 k this year and unfortunately next year they will be syphoning all my profit if I continue to sell.
LOL Credit card rewards have their fun uses: I paid my medical bills/copays for my breast cancer treatments all with one card that had a pretty substantial rewards program, and it paid for a modest, but still very nice, family Christmas trip once I had recovered from my radiation treatments enough. We all had a laugh about that, so I get how that works out nicely for you.
@@joshowens2219 thanks! I have high price high demand product line. Its just only got a 20-35% retail to wholesale margin. Losing 15% in fees is killer.
I just quit my job to focus full time on my business, I have a ton of confidence now after watching your video because a lot of the things you mentioned I’m already doing :)
ebay will be changing a lot due to the massive change in tax law coming 1/1/22. threshold to get 1099 is going from $20K a year to $600 a year. A LOT of small sellers are not legit businesses, so many sellers will be gone
lol, i have a sneaky suspicion THEY, the IRS, and be inundated with massive amounts of $600. transactions ALL OVER THE PLACE from account to account and for silly items purchased...i believe THEY (the irs and controlling people) will realize they incredible BLUNDER very QUICKLY. THEY have no idea what they signed up for....it's going to dog-pile drive them with paperworked...buried! By 2023...it'll be adjusted upwards of 10k or more. It's shockingly hilarious to think they can manage, sort, understand the new 1099's with $600. transactions to be logged. THEY just F-ed themselves...clueless.
@@LarsonFamilyFarm-LLC they already hired a lot more people to calculate. they want their money and are going to get it no matter what assumptions you make
@@LarsonFamilyFarm-LLC you underestimate THEIR end of the software. Just because the end you are forced to interact with is garbage doesn't mean the end they will plunder you with is.
This 15 minute video = my whole first year of college economics (micro/macro). Great job. Net result = data tells you where to fine tune your process ….and the real money is made in the last 5 percent of your process.
I would love to see how you do 13 listings in an hour, I struggle to do 15 in an evening, photography and staging takes ages and the amount of information ebay now requires per listing adds an age to each listing.
Here's how i do it Chris....in reply DailyR Gosh, for my E-Bay store...i can layout and take photos of 30 items (first step, kind of my item limit for the day, as some lots have 10 to 20 things in them and have lots of set-up time) in about 25 minutes (that's the roughest part of e-bay are the pics, I HATE the pics, HATE,HATE,HATE)...then I can create the listings (lightening FAST) and attach, select the best photos which takes about 10 minutes for the 30 items. Yeah, I'm that fast. Then i spend 5 minutes on textual enhancements-adjustments....so all in under an hour, 40 to 50 minutes I can do 90 to 140 photos of 30 items, select best photos and list. It's quality and fast speed that i can control without a break....However i would not want to do this all the time 8 hours.... just one hour a day. Your 15 item listing/ hour can be increased way more than you think....especially if you don't have 5 to 10 to 20 items in the lots (1 item) that have to be turned over for pics. Have your person take all the pictures first all back to back...gig-rig for camera, lightening....then worked all the descriptions with similar listing templates...delete and input new pics and adjust pricing, shipping and titles....you should be able to get to 20 listings an hour easily....I can hit 40/hour max....someone must be able to do 20 half my speed.
What available Balance? Everytime i make a sale it automatically starts processing to my bank and for the cost of shipping label they take it from my bank before the money from the sale goes into my bank. And majority of the sales ebay takes fees higher than the shipping cost. For $60 item sold ebay will take around $9 for the fee,And most the time the weight of item amounts up to around the same cost of shipping that technically the seller pays for because the buyers shipping cost ebay takes that as the seller fee leaving the buyer charged for the shipping cost.Ebay has a 12.5% selling fee, And If you win on a lottery ticket or scratch offs thats a huge win,and the IRS takes 25% of it and states will take about 5%. And ebays fees are between state and government tax fees. And to mention State taxes for buyer and seller just for used items that a tax has already been made on before that. Just another reason why middle class people and poorer cant get ahead in life because everything thing has a tax or fee to it.Thats insane
Bro tell your CPA or tax professional to incorporate you and become an S Corp thank me later got kids and a grandparent you can "pay them 16k" a year on paper lol so many tricks but legal
Shipping is wild. Last year I paid nearly $2.4 millon on shipping alone. Scammers and shipping is a uphill battle. Thank you for the tips Chris. I always like refreshing as a reseller.
My sourcing has been mostly the same, but I only sell about $1000-2000 per month in sales. Shipping has gone up slightly, but I still make pretty high margins
I used to be a big buyer and seller. I have now stopped selling and buy way less then i used to. Usually only because i can't find something anywhere else.
The shipping/credit card gem is one of the best ones you've dropped. Not only the reward points are great but its helping me be much much more responsible with the card(s). Which I wasn't very good at in the past 🤝🏽
Yes, storage space/warehouse costs are definitely a challenge for coastal clients especially. Makes it a challenge to scale for those resellers for sure.
You should be ok on shipping so long as your customers are enticed to buy more than one item. I used it for years an it increased sales. My recommendation is to transition your sales to your own website and use the venues at the same time.
I use a 1.5% cashback everything card. Now just added a Shell Visa 30cents off first five fillups and then ten cents off all my gas plus it gives me 3% rebate on all groceries and dining out. Just restarted my Ebay account and like your ideas for cost cutting.
I sold a Picasso large poster on wood for $500 and I bought it for $54 , I had to order a box to fit for $66, Etsy took $ 50 of sale, They want $350 to ship UPS. I am going to try USPS to ship hoping it is less. I can't believe shipping is this high. I never dreamed I could not make anything on a $500 order. I usually don't sell anything over $200.
@@tracyfunk3928 I don't use Pay Pal and no, I am paying shipping to get people to buy stuff. The economy is not good no matter who is saying it. I think the economy is collapsing a little at a time .I am just trying to get rid of stuff from my flea market days . Wait until inflation gets to 30% . I predict half of online sellers will quit .
The most glaringly obvious thing is to raise the price of your sold goods too. As you said “the price of everything is going up”. Business 101 you pass your expenses on to the consumer. This is why the government never really raises taxes on corporations just the people that buy their goods and services.
@@dailyrefinement kind of true, and this is of course why businesses diversify. If you’re not diversified and you’ve maxed out internal processes but expenses keep going up you eventually go broke. Eventually there is enough attrition and consolidation that the only product available becomes at that higher price point and people are forced to pay the increase. Assuming it’s something the market wants. If you weren’t diversified you won’t make it there.
Another great video that’s chockablock filled with useful information. Thank you so much for sharing your knowledge with us. I learn so much from you and Tech.
I love all this advice because it is so helpful. I ended reallly taking to heart the $30 are more per item. I'm looking to sell both video games and movies so while most of those are less than 30 i can bundle them together to either hit that price point or over that price point. And in some cases it can increase the amount of times people search for my item. If I have 3 popular games in the title then one listing with pop up 3 times as much which helps the chances of it selling.
We've had similar experiences and things have been growing nicely for us. We've done a lot of great sourcing to hold us through winter and shipping hasn't been that bad. It also helps to learn all sorts of little tricks in packaging that take down your shipping costs dramatically.
@@thisismagacountry1318 Knowing what you can pack in polys for one, lots of things can be pack in them and you can fold them over to make them more compact and increase protection to the item inside. I also use oddball cardboard pieces as support for items in boxes that keep the box from caving in, like a fast food drink carrier for example.
Like your videos so far... great details and encouragement. I don't want to rule the sales empires, but do want to make sure I keep as much money as possible in my activities. I think your eBay details are really helpful. I am just starting to figure out how to make eBay part of my income. Thanks for sharing your process.
Gee, can i work for you....That's incredibly generous.....i can encroach 40 listings per hour. Of course i'd be burned out after 2 hours each day....but $240./day is good for me.
another one i think is have the right type of boxes/envelopes in stock if you dont only ship with the free usps materials. dont use bigger boxes when you have to ship an item it may save you time, but might cost more $$. It made me lose some profit for that simple mistake.
@@tracyfunk3928 quit spamming, weve all seen your copy paste comments on this video and I've reported spam. If you spent this time listing instead of complaining.. It's clear why you didn't make any sales. And one month? Bud come on, it's practically impossible to make a sale in a month, that's not how the algorithm works. EBay also does not take the majority of your profit. I don't know what else to say other then that's just simple wrong. That doesn't math right 😂
Ebay is nothing more than another online sales outlet. I used to sell on eBay, but stopped because it just wasn't worth it for me as a somewhat casual seller. I would sell in batches, I would buy estates and sell it online, but it's just not worth it anymore. Shipping and the ridiculously high fees just drove me away
As an ebay seller that just passed 24 years being on there... it's a very different world. Scams and fees abound. Really don't want to switch platforms but... ... ...
Might have to with that attitude. I haven’t been alive as long as you, but every year I’ve lived, the world is different. Expecting it to be the same is a losing endeavor.
@@dailyrefinement Expecting businesses to be the same when they were for the first 20 years isn't expecting too much. Ebay changed considerably recently.
Do you have any videos about tax deductions to offset taxes on your eBay sales? If not can you make one? Now that everyone will be more accountable for taxes under the new threshold rule, it’s going to be a hot topic for 2022. TIA!
I'm in England. Nothing said about the new handling charge ebay has implemented. Instead of money going directly to your bank ebay holds it then after a short while sends it to your bank, thus charging for a service that wasn't needed.
WHY DOESN'T EBAY GIVE SELLERS A SHIPPING DISCOUNT?? I'M A SMALL SELLER AND IT'S KILLING ME....AND DON'T SAY INCREASE PRICE BECAUSE PEOPLE WANT FREE SHIPPING.
You mean like when you go to print a label on ebay and it says "ON EBAY YOU SAVE 26%" - cause that's what I'm seeing. So they do give sellers shipping discounts.
@@therealjenniferrr Not sure if he means no discount or minimal discount. The percentage discounts depend on the type of seller account. And the discount is variable based on the service being used. In addition, ebay is already charging you a commission fee on the shipping amount, so the percentage that shows, isn't really accurate as you end up paying ebay a percentage of your perceived savings on shipping fees. It's all a racket. Add in if it's an international seller you're often charged an international transaction fee so if your pricing is already on the margins, it costs you more to have an international buyer purchase an item from you than it would if someone domestic purchased it from you.
@@DaedalusDesign I'm already familiar with all the fees thank you. I was only giving one as an example because he said shipping and yes, there are shipping discounts.
@@therealjenniferrr Sure thing. I just wasn't sure based on both your comment, and the other persons. For one example, I shipped something today, Ebay discount was 9percent. After fees that basically means discount was eliminated. So back to what the original commenter stated. Just happened to see the post and thought I'd add my experience as well.
i always wanted to do clothes , i been selling books for 21 years now . what's the best to start on clothes ? It's only me , I get clothes at the bins and I do nothing then I send them to Thred Up . How can i get the mind set to start ..
It makes me sad that he is basing his success model on other retailers failing and then he swoops in and bargain basement buys their inventory. Like the vultures that buy property and houses that banks and gov't steal from people.
You would rather inventory goes unpurchased because one person couldn't run a business as efficiently as possible? Did you EVER take Business 101 in college?
He has no historical connection to this country or the people who founded an built it. He is here to pick the bones clean as our people suffer. So your culture metaphor is somewhat apt.
Minimum wage per hour is 1.95$ Where I live. Minimum salary per month is 375$. A lot of people here work 6 days a week for this amount of money instead of 5. Lets not forget the minimum wage also gets taxed and all taxes are around 27% if I remember correctly. Good thing is I have cheap Thrift stores around me, bad new is I have double or triple shipping price compared to US sellers that sell in the US where most of my orders go to the US as well, I am located in Europe. I am still motivated regardless. I had to quit my nice job a little over an year ago and experimented with Ebay I am still working for myself and I have been watching most of your videos since then and you are the only person I watched for that long, even if I took all the advices I could have already it is still refreshing all the time. I started thanks to my mom she helped me out and we are still supporting each other.
I see used (pre-owned they call them) clothing for sale on Ebay that I can get brand new for less. People selling used T-shirts for $20. Even some sellers have the nerve to sell items with stains, pulled threads, or missing buttons. I have at least a dozen thrift stores within easy reach of me where I can get nice clothes for $3 to $10 or even less on sale days or with their coupons with no shipping charges to pay. Sure I could pick out good clothes or other items and mark them up for sale on Ebay but the rewards don't justify the time and effort.
I'm glad to see you doing well running your business. I started selling on Amazon FBA but it feels more like partnering with a monopoly that does the work for me, so I'm considering going back to ebay where I feel more connected with the customer.
If you can find the time, do both. Ebay is not exactly a monopoly but they can be a big faceless Corp at times. For people working independently it's best to not rely fully on any one of these companies.
@@tracyfunk3928 If you had any ethical consistency or backbone you wouldn't be using TH-cam either. Since you are I am just going to assume your "see above" comments was deleted, or perhaps the writing of it was just the fever dream of a broken mind.
@@tracyfunk3928 I did not read it as it was not inline in the comment thread we're in now and there were too many comments otherwise to scroll through when your initial reply came off as so unhinged. I do agree with your screed about eBay fees, and already use pirateship for the same reasons you outlined. As for the rest... since you did have a legitimate point, just put the tin foil hat language back in the bag and just use the legit points.
Maryland minimum wage is $11.60-$11.75hr. Amazing 😉 that your points are tax free and you can make so much ($40,000yr) thru credit cards. Not that you should move, but many middle of the country resellers (Texas) average shipping price is lower.
Great on you.... But I am COMPLETELY DISCOURAGED now from even THINKING about doing eBay. You're a great entrepreneur... and eliminating your competition VIA EFFICIENCY is part of your pathway, it seems.... And EBAY is sabotaging its sellers on purpose -- BESIDES!! Timing is very important, and it looks like at 65, I am just too far behind the curve.... Auction Professor's having trouble... after 20 years of honing this business... So, you're right... Writing's on the wall... Doors are locked and the windows of opportunity are closing on eBay.... 🧐 so sad...
Australia minimum wage $20.33 per hour. Casual loading is plus 25%=$5.825. So that is $26.155 ph. total. If you work full time you are entitled to 4 weeks paid annual leave. You might look at prices of things in Australia and think they are high but they include all taxes, no nasty surprises at the checkout. Plus our medical services are practically free. Come on down.
One lady has a way to combat storage unit costs. She has everything she can move easily. I'm thinking shelves on wheels. Every year her rates will increase. She has noitced the company will put other units of the same size at a reduced rate. She asks if she can get the reduced rate unit. She does, and it takes her about an hour to move all of her stuff.
My brother had made 80k on eBay selling cards & collectibles. He gave up on eBay, because of the "fees". Have any insightful videos on selling items like cards?
our minimum wage is going to $14.25 in January., its currently at $13.50. The minimum I have to pay someone is $15 an hour, otherwise good luck finding someone to show up. :( I don't plan to hire any more employees at the moment. I have 1 currently. i anticipate rent going up in my brock and mortar come January also.
Chris, I might have missed the point and have brain fog, but if you charge shipping to the buyer which covers the actual cost of shipping, then it is not a cost to the seller, right ?
@@InvestingBookSummaries I am inclined to agree with you completely, but I still look forward to finding a shipping company that provide free services which must exist because of the many buyers who tell me they enjoy those services. :-)
I'm sure it doesn't apply to all categories of goods but whenever I've gone shopping on EBay, the prices are ridiculously high and there was just no value to be had. It seems there are too many sellers trying to find a sucker to pay top dollar. I simply gave up other than the occasional look and see.
You mentioned average shipping cost has decreased for you; have you not been charging your buyers for shipping? The burden of shipping cost is carried by the buyer. If the buyer is responsible for the shipping there would be more incentive for the buyer to buy more than one item from your own store; combing shipping would save them money on shipping. I do this when I buy items.
Walmart is hiring pickers here for their drive up pickup service for $17/hr. I don't even live in a big city, just the middle of NYS (we have cows here for those who think all of NY is NYC - it's not even close). $17 for a mindless job that you can go home and not even think about is amazing. Also would give you a semi-comfortable salary if you were single without kids in this area as long as they do full time hours (which I imagine it's def full time hours now with the holidays).
Are you ready?
I’m ready
Ive been selling part time for a couple of years. I'm taking all that I've been learning from your channel & I'm redoing my business plan & revamping my stores (3 of them) to prepare to go full time heading into 2022 😎 I am pumped!!
And hey Thanks for all you & your guests for sharing informational content. Its Much Appreciated! 😉
Ready to go Bro 👍🏽👍🏾👍🏿👍🏼
Yes
Not sure if im ready because of sourcing from thrift stores is pricey and may not last haven’t found bulk reliable areas to source
10:16 On Ebay you can use your available balance to pay for your shipping label, but I recommend that you hook it up to a credit card in credit card points, so for me personally, my credit card points are more than forty thousand dollars a year or so. If he was single he could live 100% off of his credit card rewards. He could live tax free because cash back rewards are not taxable by his credit card company, they don't actually issue anything to the IRS for credit card rewards, because the IRS considers it a discount and not revenue.
Yessir
what card do you recommend?
Ebay is always getting worse for their original sellers.
I was doing a lot more 20 years ago.
They get too much for too little.
As a seller if I made a tiny mistake in a listing, it cost me a profit.
I must have enough pictures and a PERFECT description because buyers expect new items when I only sell used parts.
All the buyer has to do is tell ebay "not as described" and I have to return and lose shipping both ways!
I have a full time job and do ebay when I can for extra money. Unfortunately between ebay's policies and increased shipping, casual sellers are being weeded out.
Yes a long time ago it was easy you could sell used and new items easily but now the rules are much different.
The 20k to 600 dollar tax bs basically killed me. I sold about 15-17 k this year and unfortunately next year they will be syphoning all my profit if I continue to sell.
Thats me. It was a great gig up til 3 years ago. 10 hours a week I could profit $250. Now 10 hours equals break even. Bye Ebay
@T.J. Kong that's garbage... and it doesn't have the reach ebay does.
3 months in and I have had 3 sales in the last 24 hours thanks to your videos thank you Chris!
LOL Credit card rewards have their fun uses: I paid my medical bills/copays for my breast cancer treatments all with one card that had a pretty substantial rewards program, and it paid for a modest, but still very nice, family Christmas trip once I had recovered from my radiation treatments enough. We all had a laugh about that, so I get how that works out nicely for you.
Glad you survived breast cancer and had vac with a card
@@darlenenistor6759 Thanks, Darlene.
Sold on eBay for 10yrs full time. Closed it all down and started my own website 2yrs ago. Best decision I ever made.
That is what I am doing. Any advice is helpful.
@@RealLifeFinance Shopify, narrow focus, & good descriptions for SEO.
@@joshowens2219 thanks! I have high price high demand product line. Its just only got a 20-35% retail to wholesale margin. Losing 15% in fees is killer.
I just quit my job to focus full time on my business, I have a ton of confidence now after watching your video because a lot of the things you mentioned I’m already doing :)
spam
ebay will be changing a lot due to the massive change in tax law coming 1/1/22. threshold to get 1099 is going from $20K a year to $600 a year. A LOT of small sellers are not legit businesses, so many sellers will be gone
me too. trying to get rid of stuff before 2022
lol, i have a sneaky suspicion THEY, the IRS, and be inundated with massive amounts of $600. transactions ALL OVER THE PLACE from account to account and for silly items purchased...i believe THEY (the irs and controlling people) will realize they incredible BLUNDER very QUICKLY. THEY have no idea what they signed up for....it's going to dog-pile drive them with paperworked...buried! By 2023...it'll be adjusted upwards of 10k or more. It's shockingly hilarious to think they can manage, sort, understand the new 1099's with $600. transactions to be logged. THEY just F-ed themselves...clueless.
@@LarsonFamilyFarm-LLC they already hired a lot more people to calculate. they want their money and are going to get it no matter what assumptions you make
Good riddance. They fools anyway LOL
@@LarsonFamilyFarm-LLC you underestimate THEIR end of the software. Just because the end you are forced to interact with is garbage doesn't mean the end they will plunder you with is.
Every video you make is chock full of information. I appreciate what you do for all of us.
This 15 minute video = my whole first year of college economics (micro/macro). Great job. Net result = data tells you where to fine tune your process ….and the real money is made in the last 5 percent of your process.
Most of the things I learned in micro economics sounds great but doesn’t apply in real life situations.
I would love to see how you do 13 listings in an hour, I struggle to do 15 in an evening, photography and staging takes ages and the amount of information ebay now requires per listing adds an age to each listing.
@@i.m.7710 thanks i'll look for that
Here's how i do it Chris....in reply DailyR
Gosh, for my E-Bay store...i can layout and take photos of 30 items (first step, kind of my item limit for the day, as some lots have 10 to 20 things in them and have lots of set-up time) in about 25 minutes (that's the roughest part of e-bay are the pics, I HATE the pics, HATE,HATE,HATE)...then I can create the listings (lightening FAST) and attach, select the best photos which takes about 10 minutes for the 30 items. Yeah, I'm that fast. Then i spend 5 minutes on textual enhancements-adjustments....so all in under an hour, 40 to 50 minutes I can do 90 to 140 photos of 30 items, select best photos and list. It's quality and fast speed that i can control without a break....However i would not want to do this all the time 8 hours.... just one hour a day. Your 15 item listing/ hour can be increased way more than you think....especially if you don't have 5 to 10 to 20 items in the lots (1 item) that have to be turned over for pics.
Have your person take all the pictures first all back to back...gig-rig for camera, lightening....then worked all the descriptions with similar listing templates...delete and input new pics and adjust pricing, shipping and titles....you should be able to get to 20 listings an hour easily....I can hit 40/hour max....someone must be able to do 20 half my speed.
Exactly. I get Maybe 10-12 in a 2 hour session.
What available Balance? Everytime i make a sale it automatically starts processing to my bank and for the cost of shipping label they take it from my bank before the money from the sale goes into my bank. And majority of the sales ebay takes fees higher than the shipping cost. For $60 item sold ebay will take around $9 for the fee,And most the time the weight of item amounts up to around the same cost of shipping that technically the seller pays for because the buyers shipping cost ebay takes that as the seller fee leaving the buyer charged for the shipping cost.Ebay has a 12.5% selling fee, And If you win on a lottery ticket or scratch offs thats a huge win,and the IRS takes 25% of it and states will take about 5%. And ebays fees are between state and government tax fees. And to mention State taxes for buyer and seller just for used items that a tax has already been made on before that. Just another reason why middle class people and poorer cant get ahead in life because everything thing has a tax or fee to it.Thats insane
Bro tell your CPA or tax professional to incorporate you and become an S Corp thank me later got kids and a grandparent you can "pay them 16k" a year on paper lol so many tricks but legal
I finally used the combine shipping function and it was sooo awesome.
Shipping is wild. Last year I paid nearly $2.4 millon on shipping alone. Scammers and shipping is a uphill battle.
Thank you for the tips Chris. I always like refreshing as a reseller.
My sourcing has been mostly the same, but I only sell about $1000-2000 per month in sales. Shipping has gone up slightly, but I still make pretty high margins
Ebays takes a % of your shipping. I absolutely hate using that site. I prefer Merc and Posh because their shipping is soooo simple.
This on one of your best videos. It has a lot food for thought.
I used to be a big buyer and seller. I have now stopped selling and buy way less then i used to. Usually only because i can't find something anywhere else.
The shipping/credit card gem is one of the best ones you've dropped. Not only the reward points are great but its helping me be much much more responsible with the card(s). Which I wasn't very good at in the past 🤝🏽
Totally agree!
I just said the same the lol about switch my cards lol
What was the card again?
@@jasonbianco735 capital one capital.one/3Ebhd1F. I actually use the spark plus 2% card.
I totally agree!!!
Yes, storage space/warehouse costs are definitely a challenge for coastal clients especially. Makes it a challenge to scale for those resellers for sure.
You should be ok on shipping so long as your customers are enticed to buy more than one item. I used it for years an it increased sales. My recommendation is to transition your sales to your own website and use the venues at the same time.
Yup. I am working on that now. I sell high price low margin items and the Ebay fees are killer. Gonna try to sell 5% less on my own site.
That’s it. I’m joining the group in December. I will also be getting off Instagram. It’s the season and I’m ready to have the best month yet!!
You’re the best, Chris! Thanks for pushing me.
I use a 1.5% cashback everything card. Now just added a Shell Visa 30cents off first five fillups and then ten cents off all my gas plus it gives me 3% rebate on all groceries and dining out.
Just restarted my Ebay account and like your ideas for cost cutting.
That photo setup is killer!
I sold a Picasso large poster on wood for $500 and I bought it for $54 , I had to order a box to fit for $66, Etsy took $ 50 of sale, They want $350 to ship UPS. I am going to try USPS to ship hoping it is less. I can't believe shipping is this high. I never dreamed I could not make anything on a $500 order. I usually don't sell anything over $200.
@@tracyfunk3928 I don't use Pay Pal and no, I am paying shipping to get people to buy stuff. The economy is not good no matter who is saying it. I think the economy is collapsing a little at a time .I am just trying to get rid of stuff from my flea market days . Wait until inflation gets to 30% . I predict half of online sellers will quit .
excellent lessons learned.
Thanks for making this video. Keep it up chris , it helps people out so much.
You Rock! Thank you for sharing your knowledge.
The most glaringly obvious thing is to raise the price of your sold goods too. As you said “the price of everything is going up”. Business 101 you pass your expenses on to the consumer. This is why the government never really raises taxes on corporations just the people that buy their goods and services.
I agree with that, but the market can’t always pay the increase, sometimes the demand doesn’t rise enough to cover it and people buy different things
@@dailyrefinement kind of true, and this is of course why businesses diversify. If you’re not diversified and you’ve maxed out internal processes but expenses keep going up you eventually go broke. Eventually there is enough attrition and consolidation that the only product available becomes at that higher price point and people are forced to pay the increase. Assuming it’s something the market wants. If you weren’t diversified you won’t make it there.
Well the state minimum wage here is still $5.15 an hour in Georgia but they go by the federal at $7.25
Another great video that’s chockablock filled with useful information. Thank you so much for sharing your knowledge with us. I learn so much from you and Tech.
Thank you for the credit card shipping label idea!
You are so welcome!
I love all this advice because it is so helpful. I ended reallly taking to heart the $30 are more per item. I'm looking to sell both video games and movies so while most of those are less than 30 i can bundle them together to either hit that price point or over that price point. And in some cases it can increase the amount of times people search for my item. If I have 3 popular games in the title then one listing with pop up 3 times as much which helps the chances of it selling.
We've had similar experiences and things have been growing nicely for us. We've done a lot of great sourcing to hold us through winter and shipping hasn't been that bad. It also helps to learn all sorts of little tricks in packaging that take down your shipping costs dramatically.
Tricks like,...
@@thisismagacountry1318 Knowing what you can pack in polys for one, lots of things can be pack in them and you can fold them over to make them more compact and increase protection to the item inside. I also use oddball cardboard pieces as support for items in boxes that keep the box from caving in, like a fast food drink carrier for example.
Another tip is simple smaller boxes for smaller items. We sent out jewelry for 4 bucks a package by keeping it small and simple.
@@tracyfunk3928 where is a better place to sell online?
@@tracyfunk3928 no I did not.
Christopher here from pop’s Garage on ebay , excellent content my friend
Congrats on 100k!!
Like your videos so far... great details and encouragement. I don't want to rule the sales empires, but do want to make sure I keep as much money as possible in my activities. I think your eBay details are really helpful. I am just starting to figure out how to make eBay part of my income. Thanks for sharing your process.
Thank You!
Bruh, back here in Utah I’m paying around $3 per listing, but only on listings making $20 plus. We are on different levels tho 😂
Gee, can i work for you....That's incredibly generous.....i can encroach 40 listings per hour. Of course i'd be burned out after 2 hours each day....but $240./day is good for me.
Good business sense. Well done on running a smart business.
another one i think is have the right type of boxes/envelopes in stock if you dont only ship with the free usps materials. dont use bigger boxes when you have to ship an item it may save you time, but might cost more $$. It made me lose some profit for that simple mistake.
Use pirateship too. They sometimes save you money
@@julieclark3649 Thank you Julie that's a good point I'll definitely keep that in consideration 🤓💯
@@HollywoodReseller one more thing, box in a bag on pirateship can also be a big $$ saver
@@tracyfunk3928 oof bud.
@@tracyfunk3928 quit spamming, weve all seen your copy paste comments on this video and I've reported spam. If you spent this time listing instead of complaining.. It's clear why you didn't make any sales. And one month? Bud come on, it's practically impossible to make a sale in a month, that's not how the algorithm works. EBay also does not take the majority of your profit. I don't know what else to say other then that's just simple wrong. That doesn't math right 😂
Ebay is nothing more than another online sales outlet. I used to sell on eBay, but stopped because it just wasn't worth it for me as a somewhat casual seller. I would sell in batches, I would buy estates and sell it online, but it's just not worth it anymore. Shipping and the ridiculously high fees just drove me away
As always Chris, thanks for the wonderful info🤗🙏🏻
As an ebay seller that just passed 24 years being on there... it's a very different world. Scams and fees abound. Really don't want to switch platforms but... ... ...
Might have to with that attitude. I haven’t been alive as long as you, but every year I’ve lived, the world is different. Expecting it to be the same is a losing endeavor.
@@dailyrefinement Expecting businesses to be the same when they were for the first 20 years isn't expecting too much. Ebay changed considerably recently.
Do you have any videos about tax deductions to offset taxes on your eBay sales? If not can you make one? Now that everyone will be more accountable for taxes under the new threshold rule, it’s going to be a hot topic for 2022. TIA!
great videos. always full of knowledge. Thank You.
Thank You!
Great info!
I'm in England. Nothing said about the new handling charge ebay has implemented. Instead of money going directly to your bank ebay holds it then after a short while sends it to your bank, thus charging for a service that wasn't needed.
Minimum wage is $15hr, fast food places here start around $17-18hr for basic staff and around $23 for a shift manager
Great tips. Always learn stuff watching your channel. Keep up the amazing work.✌️😎
Great information thanks!
Thank You!
you are a smart dude.....I don't get to watch that often, but I enjoy your strategies and your content
Thank You!
great info!
what do you use to post new listings?
WHY DOESN'T EBAY GIVE SELLERS A SHIPPING DISCOUNT?? I'M A SMALL SELLER AND IT'S KILLING ME....AND DON'T SAY INCREASE PRICE BECAUSE PEOPLE WANT FREE SHIPPING.
You mean like when you go to print a label on ebay and it says "ON EBAY YOU SAVE 26%" - cause that's what I'm seeing. So they do give sellers shipping discounts.
@@therealjenniferrr Not sure if he means no discount or minimal discount. The percentage discounts depend on the type of seller account. And the discount is variable based on the service being used. In addition, ebay is already charging you a commission fee on the shipping amount, so the percentage that shows, isn't really accurate as you end up paying ebay a percentage of your perceived savings on shipping fees. It's all a racket. Add in if it's an international seller you're often charged an international transaction fee so if your pricing is already on the margins, it costs you more to have an international buyer purchase an item from you than it would if someone domestic purchased it from you.
@@DaedalusDesign I'm already familiar with all the fees thank you. I was only giving one as an example because he said shipping and yes, there are shipping discounts.
@@therealjenniferrr Sure thing. I just wasn't sure based on both your comment, and the other persons. For one example, I shipped something today, Ebay discount was 9percent. After fees that basically means discount was eliminated. So back to what the original commenter stated. Just happened to see the post and thought I'd add my experience as well.
Hi what happen with you new store I see 0 items listed ?
closed it, just want to do one store
i always wanted to do clothes , i been selling books for 21 years now . what's the best to start on clothes ? It's only me , I get clothes at the bins and I do nothing then I send them to Thred Up . How can i get the mind set to start ..
12.50 an hour is minimum wage in Maine
Love these detailed videos! Very helpful 👍👍
It makes me sad that he is basing his success model on other retailers failing and then he swoops in and bargain basement buys their inventory.
Like the vultures that buy property and houses that banks and gov't steal from people.
You would rather inventory goes unpurchased because one person couldn't run a business as efficiently as possible?
Did you EVER take Business 101 in college?
Someone gotta do it
He has no historical connection to this country or the people who founded an built it. He is here to pick the bones clean as our people suffer. So your culture metaphor is somewhat apt.
Minimum wage per hour is 1.95$ Where I live. Minimum salary per month is 375$. A lot of people here work 6 days a week for this amount of money instead of 5. Lets not forget the minimum wage also gets taxed and all taxes are around 27% if I remember correctly. Good thing is I have cheap Thrift stores around me, bad new is I have double or triple shipping price compared to US sellers that sell in the US where most of my orders go to the US as well, I am located in Europe. I am still motivated regardless. I had to quit my nice job a little over an year ago and experimented with Ebay I am still working for myself and I have been watching most of your videos since then and you are the only person I watched for that long, even if I took all the advices I could have already it is still refreshing all the time. I started thanks to my mom she helped me out and we are still supporting each other.
@@bestbargainfashion5575 Thank you, will do. :)
As always many thanks Chris
Thanks again!
I see used (pre-owned they call them) clothing for sale on Ebay that I can get brand new for less. People selling used T-shirts for $20. Even some sellers have the nerve to sell items with stains, pulled threads, or missing buttons. I have at least a dozen thrift stores within easy reach of me where I can get nice clothes for $3 to $10 or even less on sale days or with their coupons with no shipping charges to pay. Sure I could pick out good clothes or other items and mark them up for sale on Ebay but the rewards don't justify the time and effort.
I'm glad to see you doing well running your business. I started selling on Amazon FBA but it feels more like partnering with a monopoly that does the work for me, so I'm considering going back to ebay where I feel more connected with the customer.
If you can find the time, do both. Ebay is not exactly a monopoly but they can be a big faceless Corp at times. For people working independently it's best to not rely fully on any one of these companies.
@@tracyfunk3928 If you had any ethical consistency or backbone you wouldn't be using TH-cam either. Since you are I am just going to assume your "see above" comments was deleted, or perhaps the writing of it was just the fever dream of a broken mind.
@@tracyfunk3928 LOL, I am sure that is exactly what you think you are doing.
@@tracyfunk3928 I did not read it as it was not inline in the comment thread we're in now and there were too many comments otherwise to scroll through when your initial reply came off as so unhinged. I do agree with your screed about eBay fees, and already use pirateship for the same reasons you outlined. As for the rest... since you did have a legitimate point, just put the tin foil hat language back in the bag and just use the legit points.
Great job Chris! Always great motivation! 👍🏼
Glad you liked it!!
I sold $570 worth of electronics and eBay took almost 20% It's a drag
Learn from every video! Thanks!
My wish is getting a space where I can live and have my business too in which I have no idea what that would look like
Maryland minimum wage is $11.60-$11.75hr. Amazing 😉 that your points are tax free and you can make so much ($40,000yr) thru credit cards. Not that you should move, but many middle of the country resellers (Texas) average shipping price is lower.
awesome video thanks
Great on you.... But I am COMPLETELY DISCOURAGED now from even THINKING about doing eBay. You're a great entrepreneur... and eliminating your competition VIA EFFICIENCY is part of your pathway, it seems.... And EBAY is sabotaging its sellers on purpose -- BESIDES!! Timing is very important, and it looks like at 65, I am just too far behind the curve.... Auction Professor's having trouble... after 20 years of honing this business... So, you're right... Writing's on the wall... Doors are locked and the windows of opportunity are closing on eBay.... 🧐 so sad...
Nice video, lots of information!!
Australia minimum wage $20.33 per hour. Casual loading is plus 25%=$5.825. So that is $26.155 ph. total. If you work full time you are entitled to 4 weeks paid annual leave. You might look at prices of things in Australia and think they are high but they include all taxes, no nasty surprises at the checkout. Plus our medical services are practically free. Come on down.
Sounds great....plus I love the Seekers, speak English and have my own money.....
Where do you recommend someone who at one time had 2500 items but had to close but now is restarting….start with your videos, podcasts, etc?
I thought seller fees are now automatically taken out of your proceeds. How do you opt to have them charged to your credit card?
It’s the shipping costs, not the seller fees
Thanks for the reminder about credit card rewards!
You bet!
One lady has a way to combat storage unit costs. She has everything she can move easily. I'm thinking shelves on wheels. Every year her rates will increase. She has noitced the company will put other units of the same size at a reduced rate. She asks if she can get the reduced rate unit. She does, and it takes her about an hour to move all of her stuff.
Does economy shipping have tracking there?
it has become a scammers delight and they don't care, Best avoided
Interesting. Good video.
Thanks
My brother had made 80k on eBay selling cards & collectibles. He gave up on eBay, because of the "fees". Have any insightful videos on selling items like cards?
Be big, or prepare to die because fees aren't going down, they go up every year.
I left for pwcc
@@randymoran67 my brother did same.
Like button smashed.
our minimum wage is going to $14.25 in January., its currently at $13.50. The minimum I have to pay someone is $15 an hour, otherwise good luck finding someone to show up. :( I don't plan to hire any more employees at the moment. I have 1 currently. i anticipate rent going up in my brock and mortar come January also.
what credit card was you referring to that offered tax free rewards?
Chris, I might have missed the point and have brain fog, but if you charge shipping to the buyer which covers the actual cost of shipping, then it is not a cost to the seller, right ?
Shipping is always baked in regardless of "free" shipping.
@@InvestingBookSummaries I am inclined to agree with you completely, but I still look forward to finding a shipping company that provide free services which must exist because of the many buyers who tell me they enjoy those services. :-)
I overcharge a bit
where an I buy your stuff? what is the ebay store?
I go in more details on my blog about the process and store: www.dailyrefinement.com/blog/ebaysetup
What is the name of you EBay store? Thank you for video
daily refinement
what card do you use? I have the same set up but wonder if you have a card that pays more points.
Just moved to East TX and minimum wage is $7.25 ……
Wow
I'm sure it doesn't apply to all categories of goods but whenever I've gone shopping on EBay, the prices are ridiculously high and there was just no value to be had. It seems there are too many sellers trying to find a sucker to pay top dollar. I simply gave up other than the occasional look and see.
Yeah, ebay is mostly overpriced items and a few deals
how much staff do you have? and where you get your inventory from?
2 contractors
is your stated profit on ebay before or after ebay fees?
After
@@dailyrefinement may i check out your ebay shop? what's its name?
I dropped Ebay a few years ago. I found selling what i enjoy to expensive...I sold little vintage things etc...
You mentioned average shipping cost has decreased for you; have you not been charging your buyers for shipping? The burden of shipping cost is carried by the buyer. If the buyer is responsible for the shipping there would be more incentive for the buyer to buy more than one item from your own store; combing shipping would save them money on shipping. I do this when I buy items.
Average shipping cost for both buyer and me
shipping is killing me too
What credit card are you using to get such high rewards?
capital one spark plus, 2% cash back. Spend $2M, get $40k cash back.
many business cards offer 2% on shipping. I use Amen Delta gold business card
@@dailyrefinement I use Capital one...GM rewards 5% for the first $5k and then 2% after....it'll buy you your next GM vehicle...Scot free.
Walmart is hiring pickers here for their drive up pickup service for $17/hr. I don't even live in a big city, just the middle of NYS (we have cows here for those who think all of NY is NYC - it's not even close). $17 for a mindless job that you can go home and not even think about is amazing. Also would give you a semi-comfortable salary if you were single without kids in this area as long as they do full time hours (which I imagine it's def full time hours now with the holidays).
So what's your eBay store name?
That's what I thought
Where did you get your boxes
Uline
What sizes are they
eBay is a joke. When the buyer isn't happy the seller gets screwed
I’m pretty sure that’s the case with any business that you can pay with a credit card.
Could you explain the PayPal & credit card points for shipping charges? Curious about fees
www.dailyrefinement.com/blog/paypalshipping