Author Topic: EBAY side hustle  (Read 2494 times)

Markywalberg

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EBAY side hustle
« on: March 19, 2017, 08:44:44 PM »
Hello, Mustachians's just asking for some advice here i recently started selling my clothing that i didnt want anymore on ebay to make some side cash and it sold for more then i expected so i started buying clothing lots on ebay and then selling that but I only really make maybe $30 bucks a month off of that if im lucky. Im wondering if anyone has a decent side hustle on ebay with clothing or other stuff that might bring in a little more per month and might be a little more sustainable? I might make $30 a month but for the most part it seems  kinda random since I only make money off of the few items that go for more then i expect.

ChpBstrd

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Re: EBAY side hustle
« Reply #1 on: March 20, 2017, 11:40:38 AM »
I've thought about this too. In theory, things sell for less in a small market than in a large market. E.g. that toaster that only brings $2 at a yard sale brings $6 on ebay because there is a larger audience of people looking for toasters there. We'll call this the markets spread

The trick would be to find things with a markets spread so big they justify the time and shipping costs.

How to execute on this theory? Probably 1,000 ways to do it.

One way would be to buy a junk car / motorcycle and sell the parts. People with a broke-down ride will pay extra for the convenience, and unlike the salvage yard, you have a national audience.

Another is to find antiques, art, or other rare objects for sale in small markets like yard sales or CL that you can resale on ebay.

A third way is to offer to sell all your friends' stuff for a 20-25% cut. Word will spread. There were some such shops in my town but they went under due to the costs of expensive prime real estate. A sole entrepreneur working from home could make it profitable if they could develop a referral network. Also, local advertising is cheap.

Ocinfo

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Re: EBAY side hustle
« Reply #2 on: March 20, 2017, 11:52:28 AM »
I use to sell on eBay a good amount (250+ sales) between 10 and 15 years ago. Focused on computer parts and kits but it eventually became unprofitable due to fees. It gets hard to achieve a spread when you're paying 15%+ to eBay and PayPal plus shipping costs. There are also many that sell directly from China that undercut on price.

There might be some items such as collectibles and antiques that you can get for cheap in LCOL areas that are worth a lot more in HCOL areas. If you're selling more commodity items then expect a single digit profit percentage and then you'll need to sell volume to make it worthwhile.


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bender

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Re: EBAY side hustle
« Reply #3 on: March 20, 2017, 12:19:10 PM »
I sell on Ebay as a way to get rid of stuff I no longer need / cluttering.  So the items I sell essentially cost me nothing and I would have donated them otherwise.  I think I pay about 10% to Ebay then another 3.6% to paypal.  Then add in shipping costs which varies greatly - I figure it costs me about 20% of gross to sell on Ebay.  I find it's worth it to me to unload some unwanted stuff and make some cash doing it.

I have not had much luck selling clothing.  I had some unwanted gifts new with tags that I couldn't return due to no receipt (some stores have gotten strict with return policies.)  I sold 1 out of 3 items, only selling the item with a good name brand, and listed for about 60% off retail prices.

I think one way you can make money as a side gig reselling on Ebay is through volume.  You would have to buy in bulk for very cheap prices and resell individually.  I think it's a lot of work and margins will be pretty slim as you have to pay for packaging materials and selling in volume will start to eat at your time (it won't be fun anymore).

Another way to make money buying and selling is to buy no-reserve auctions that sell for much less than market value and try to resell those items.  Again you'll probably waste a lot of time placing low bids and not winning much in the end.

Markywalberg

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Re: EBAY side hustle
« Reply #4 on: April 01, 2017, 04:03:58 PM »
Ya I think with cloths  you either make a small profit or break even is what im seeing which is why im hoping to maybe start selling other stuff but im not sure what items have better margins and can turnover fast?

Cheap_Freedom

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Re: EBAY side hustle
« Reply #5 on: April 02, 2017, 05:07:18 PM »
There are a few things you have to have to make money on Ebay in my opinion.

1. You have to know something about your target market - I've personally been working in a gun store for over ten years. I've been buying and selling gun stuff for my boss for a long time.

2. You have to have a good reliable source for items you can mark up - I'm lucky. I tell my boss I want to buy stuff from him and sell it on Ebay. He says OK because I buy stuff that sits on the shelves forever and won't move in New Mexico but sells very well online. He also gives me a hefty discount.

3. Do the math - I buy 10 round magazines for $10.73 from my boss including tax. I sell them on ebay anywhere from $25-$35 shipped. So I make roughly $10-18 per magazine. It takes me 15-20 minutes to list each item. Seems worth it to me.

My boss is generous but sometimes he doesn't have any items he's willing to sell me for my side hustle.

I've thought about putting up a wanted ad in Craigslist to get more cheap merchandise, but people have been held up in Albuquerque at Craigslist meet ups so I'm hesitant.

I've tried garage saleling for cheap merchandise, but I usually don't find stuff I know how to sell and I really don't enjoy garage sales.

I hope it helps, I'm sure you can find something out there to sell on Ebay.

Also don't confine yourself to Ebay. I know you can sell stuff on Etsy if it's at least 20 years old.

aperture

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Re: EBAY side hustle
« Reply #6 on: April 03, 2017, 06:36:59 AM »
I go to estate sales and pick up random crap for cheap and resell on eBay.  Last year I cleared a few thousand doing this mostly on weekends, though some of the sales were some items I had around the house.  I go to two or three estate sales per week and hit any garage sales on the way.  It takes me a a few hours on Saturday morning with one of my kids in tow and listing will take a couple more hours.  I have ~100 items in my store and sell 1-2 items/week. Average item sells for $25 and was purchased for $2. I charge shipping to my customers, so I clear about $20 on each.  There are occasional items that I hit big $s with.  Those are the ones that keep my hand in the game. 
My goals for the eBay sales are (1) teach my kids about business (2) side hustle to pay for some vacation time (3) profitable work that I can grow once I quit my day job (if I want).

These guys taught me everything about how to do it: http://www.scavengerlife.com/

Best wishes, aperture.

gex

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Re: EBAY side hustle
« Reply #7 on: April 20, 2017, 02:40:23 PM »
I go to estate sales and pick up random crap for cheap and resell on eBay.  Last year I cleared a few thousand doing this mostly on weekends, though some of the sales were some items I had around the house.  I go to two or three estate sales per week and hit any garage sales on the way.  It takes me a a few hours on Saturday morning with one of my kids in tow and listing will take a couple more hours.  I have ~100 items in my store and sell 1-2 items/week. Average item sells for $25 and was purchased for $2. I charge shipping to my customers, so I clear about $20 on each.  There are occasional items that I hit big $s with.  Those are the ones that keep my hand in the game. 
My goals for the eBay sales are (1) teach my kids about business (2) side hustle to pay for some vacation time (3) profitable work that I can grow once I quit my day job (if I want).

These guys taught me everything about how to do it: http://www.scavengerlife.com/

Best wishes, aperture.

Very cool, I've wanted to get into this. If you don't mind asking, are there certain items you focus on? Sporting goods, electronics, antiques, or anything and everything?

aperture

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Re: EBAY side hustle
« Reply #8 on: April 21, 2017, 09:36:09 PM »
Very cool, I've wanted to get into this. If you don't mind asking, are there certain items you focus on? Sporting goods, electronics, antiques, or anything and everything?

I look for what the owner of the house valued and then look for good useable items related to that.  I was at a motorcycle enthusiast's house and bought a leather jacket, at a Bob Marley collectors house I found a tour book from 1977 that was in mint condition.  I have bought collectible Irish china, hiking boots, waders, hunting gear, coffee cups, trivets, coffee grinders, purses... lots of stuff.  I buy when the price is low and the condition is mint.  I do not want to list something that is not perfect because no one wants to buy a chipped or faded anything. I try to get stuff that is small to make shipping cheap.  I try to stay away from clothes (except shoes and jackets) because they do not interest me. 

I like that when I walk into an estate sale, I have no idea what I will pick up.  Each house is a riddle that I have to solve to find value where the 50 people that walked through before me did not see it, or didn't care.  Best wishes, aperture.

gex

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Re: EBAY side hustle
« Reply #9 on: April 22, 2017, 06:39:37 AM »
Very cool, I've wanted to get into this. If you don't mind asking, are there certain items you focus on? Sporting goods, electronics, antiques, or anything and everything?

I look for what the owner of the house valued and then look for good useable items related to that.  I was at a motorcycle enthusiast's house and bought a leather jacket, at a Bob Marley collectors house I found a tour book from 1977 that was in mint condition.  I have bought collectible Irish china, hiking boots, waders, hunting gear, coffee cups, trivets, coffee grinders, purses... lots of stuff.  I buy when the price is low and the condition is mint.  I do not want to list something that is not perfect because no one wants to buy a chipped or faded anything. I try to get stuff that is small to make shipping cheap.  I try to stay away from clothes (except shoes and jackets) because they do not interest me. 

I like that when I walk into an estate sale, I have no idea what I will pick up.  Each house is a riddle that I have to solve to find value where the 50 people that walked through before me did not see it, or didn't care.  Best wishes, aperture.

Wow, thank you for this great information. Sounds like you've really got this down! It all makes sense. I'm thinking this might be a fun hobby to get into with the Mini Money Mustaches. A fun Saturday morning routine for dad and the kids.


aperture

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Re: EBAY side hustle
« Reply #10 on: April 22, 2017, 07:51:02 PM »
Wow, thank you for this great information. Sounds like you've really got this down! It all makes sense. I'm thinking this might be a fun hobby to get into with the Mini Money Mustaches. A fun Saturday morning routine for dad and the kids.

This is exactly what I do with my 14 yo son on Saturday mornings when it is not LAX season.  We like Saturdays because they are usually 50% off days with most estate sellers, so we are often looking at rock bottom prices.  When I happen to go to an estate sale on a day when everything is not 50% off, I usually just get frustrated that everything is so expensive (LOL).  I find myself outraged that the seller is asking $15 for something that costs $70 new - I want it to be $7.50 before I even think of buying.  Actually, $7.50 is more than I usually want to pay for any item.

ChpBstrd

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Re: EBAY side hustle
« Reply #11 on: April 23, 2017, 08:03:32 PM »
Wow, thank you for this great information. Sounds like you've really got this down! It all makes sense. I'm thinking this might be a fun hobby to get into with the Mini Money Mustaches. A fun Saturday morning routine for dad and the kids.

This is exactly what I do with my 14 yo son on Saturday mornings when it is not LAX season.  We like Saturdays because they are usually 50% off days with most estate sellers, so we are often looking at rock bottom prices.  When I happen to go to an estate sale on a day when everything is not 50% off, I usually just get frustrated that everything is so expensive (LOL).  I find myself outraged that the seller is asking $15 for something that costs $70 new - I want it to be $7.50 before I even think of buying.  Actually, $7.50 is more than I usually want to pay for any item.

In my area, "estate sale" means "don't bother". They will literally sell stuff for retail prices, and they move the same stuff from house to house. Then everybody goes bananas over 50% off - woo hoo, you just bought a 1979 waffle iron for $80 instead of $160! Might as well be a flea market. The only bargains are at yard sales run by individuals, and there is a swarm of people trying to be first to these on Friday mornings.