Question for the seasoned sellers

[StevEbay]

For those of you that have been in the BIZ for a while, do you usually see an influx of liquidated goods more so after the holidays?
I'm just a newbie trying to get my feet wet and I couldn't find water if I fell out of a boat. This "research" stuff sucks ass. I have literally spent 8 hrs. a day for the last 3 weeks looking for stuff to sell and all that's out there is junk. I mean who wants to sell something for like $80, $100 or $150 and only make 10-20 bucks on it? I fell into the trap of believing I was gonna be an instant millionaire when I sold some Rosetta Stone sets and p90x. Only to get my wrist slapped by feebay. I haven't had to go stealth yet cause my account only got suspended for 7 days. Now I'm just selling stuff around the house that's collecting dust. I sometimes think it would just be easier to get a part time job to make $$$ that put in 50 hrs. a week doing "research".

(rant over)

[jeffweico]

Well, better to get your wrist slapped by eBay than cuffed by law enforcement. Better to stay away from that stuff.

But retail always has low profit margins. And eBay is probably the most competitive marketplace in the world.

The biggest mistake newbies make is to think of the more popular items. For example, if you wanted to sell Bluetooth headsets, you are competing not only with 1,000 other USA sellers, but also with sellers from China. That leaves very little profit for you, if any at all.

You need to find a niche to be successful. But such products do not come up on the first page of Google searching. Most people find stuff offline and then sell it online. Others buy online and sell online, but they do so in quantity to get the price breaks.

But no matter what you do, if you are looking to buy something for $25 and sell it for $100, it does not really exist. Sure, you can find that one-off bargain, a rare book or video game that can be bought for cheap and sold for top dollar, but it is not the norm. The only thing with that kind of profit margin that sells in quantity is counterfeit goods. And that is not an easy road to travel down. People spend time in jail for that. So, even if you see a guy selling P90X like there is no tomorrow, don't think he has it easy. He is risking lawsuits and jail time. Not such a nice way to live your life.

One idea you might be able to use (it depends on your comfort level) is to try to source some stuff locally. For example, many video stores have recently gone under. If you know of one going out of business, maybe you can work a deal to buy their inventory. The owner may prefer a lump-sum payment rather than trying to sell off the dvd's piece by piece. It doesn't have to be dvd's, it could be ANYTHING. But that requires that you are comfortable talking to people and negotiating. Many people aren't.

I don't have an easy answer for you, I'm just trying to throw out some ideas. Hopefully, others will chime in as well.

[forummember]

Jeff is right. There's no such thing as easy money. You take enormous risks when selling counterfeits. What people don't understand about eBay and Amazon, is that you need to build your account up, get it established. The stuff your on about where you make say $20 per item... some people sell 100's of these a week along with endless other items. If you want to get to a level whereby your making a decent income off of internet selling then you need to prepare yourself and the most important thing is to have patience.

I have a really good account now that in the beginning didn't make much money, now after 3 months of work it is really paying off and I'm making a lot out of it. It's all legit and above board. Sure, you could go in to selling ⊗⊗⊗⊗, but ask yourself whether or not it's worth the risk.

[rsot]

Lot of solid advice around the forum. And yes, sadly there is not much choice of easy legit profit...you need patience, find your niche, and pump out VOLUME. That's how retail works - volume x margins...if you can stand to deal with complaints and possible losses then knock-offs sure but there are many other ways.

You are new to the forum so welcome first of all. As time goes by and you build cred here - if you wish to do so - you will find lot of people receptive and open to discussion with you via PM.

All the best.

[StevEbay]

I love the input from you guys and appreciate it very much. I definitely have been more of a reader that a poster on here trying to gain info.
I notice that you guys talk about pumping out VOLUME of product. I can't imagine you guys are stocking all of these items in a garage or basement. Are the majority of you dropshipping all of your items? Or what % of items do you stock as opposed to dropship?
Thanks.

[TGMT²]

Originally Posted by StevEbay

Or what % of items do you stock as opposed to dropship?

You won't find many sellers on the forum who Dropship...except for the new members who just found us because they have been recently suspended because of that.

Originally Posted by StevEbay

I sometimes think it would just be easier to get a part time job to make $$$ that put in 50 hrs. a week doing "research".

Another option is developing a niche selling stuff from Garage/Yard/Estate Sales. I make a Great living doing that. Anyway, something to think about.

[forummember]

I sell in large volume, and I never dropship items. I have built up a good inventory, and am always looking to expand it.

[BooMer]

Glad you still have your REAL account. Make sure you don't do anything during that 7 days Suspension. I failed and didn't listen and learned the hard way. One more serious violation is all it takes to force you to go Stealth. Going legit is always better than going stealth. Sales always pick up during the holidays and that's not just online either. If you do find a hot item then stock up on it as much as your wallet can handle. Doing research is not always easy and finding the right products is just the same. If you don't have time or you get aggravated just doing that then you should consider finding another job that won't stress you out. Ebay is not for Everyone. U make the conscious decision if this business is what you want and if you enjoy it.
Another way to find stuff is to look at other items from small time sellers. Don't look at the Sellers that have thousands of items that are from china who have over a million feedback. If you keep digging you might find something right under your nose. Maybe you didn't dig far enough and gave up too easily.

Master the art of Haggling!

Jeffweico got it all basically down pack with his response.

BooMer

[123]

Yeah best way to go is to find a niche after a couple months or a year of successfully selling in that niche and making good profit. Explore other possible items to expand your horizons.

[holymoly]

Possible Jail = $$$

Is it worth it...if yes...go head on but be careful.