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Old 03-08-2008
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Default Don't ship insured - save the cost to pay out loss claims yourself

When I was selling I had a theroy that you could make a good living with any thing that would fit and ship first class in a #000 bubble pack mailer (I also had a theroy that if you insured a package for a million dollars with the post office you had better odds of winning than the lottery) I used to buy them 5000 at a time getting them for 6 cents each I shipped Ic chips in them for 25 and 50 dollars each now here is where the money is to be made i sold around 16,000 chips a year on several accounts and charged 2.00 each for insurance in my fair fixed shipping costs however i didnt purchase insurance but self insured them putting the 2.00 in a seperate account then paid first class shipping with delevery conformation to dispute those who said they never received it I never hesitated to pay any legit claims kept every one happy sending a replacement asap no long lines at the post office to make a claim no wait time for the customer they always got they package within 2 to 5 days of payment neadless to say I had up to 10 powerseller accounts at one time so the numbers are 32k collected less than 6k paid out so thats 26k profit from self insurance on items valued at 25-50 bucks each replacing them at my cost of about half that.

sorry about the spelling and grammer i wish now i had finished skool

I would love to hear and share other ideas about making money on ebay or online.

Throb-n-Rod (How to make a Million Dollars A Year On Ebay) Adult is where it is...
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i'm not really sure what you were selling. or was it a way to scam the post office? what is it that you were shipping?
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Old 03-08-2008
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ohh basically you were the insurance company. i get it. that is a pretty good idea!
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Old 03-08-2008
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Very creative, but it seems like a lot of tedious work.
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Old 03-08-2008
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no work at all you just collect the insurance money and self insure the items yourselfone gets lost or damaged you use the money you collected to replace it just like the big insurance companys the house always wins
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Old 03-09-2008
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so the insurance was mandatory for the buyers to purchase?
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It isn't a scam. Instead of the USPS insuring the items Throb-N-Rob is taking on the burden and is insuring the items himself. If the item doesn't arrive then a replacement is sent at no cost.
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Old 03-10-2008
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unless you are making it mandatory for the buyers to pay for insurance i don't see the point. maybe 5% of my buyers actually opt for the optional insurance.

i guess the same could be said for padding shipping costs. on some items i sell i can make 5-10 dollars per item depending on where the item is being shipped.
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