[WesternCancer]

So I have the opportunity to sell a bunch of crap on the internet and keep some of the money. Since I'll only be making some money from each sale I want to make it as time/cost efficient as possible.

I'm not going to say exactly what they are (you can PM me if you really want to know). There is a lot to sell.

The product:

- depreciates only if a company comes out with a better version (not very frequently). "vintage" versions can sell for a decent amount of $$$. doesn't matter if its been opened provided all the contents are intact.

- $30-200 per item retail. my 'inventory' would be anywhere up to 1000 of mostly the lower end items. if you sell a newer version and its unused you can sell pretty much for store price (ie. sell a $150 for close to $150)

- large and probably hard to ship. I knew a guy who used to sell vinyl records and got some kind of small business discount at the post office so I'd look into that.

Options for selling

- ebay: not lots of activity, lower prices than people selling anywhere else. not familiar with ebay, but don't you have to pay to set up an ad?

- set up a site and post about it on some forums (not into putting a ton of effort into making a site + doing SEO or whatever). I could also just make a product list and post it on some forums.

- sell in person: only good way is going to a convention that happens once a year close by (or maybe I could travel to various meets and sell there, but the merch would probably just pay for the trip).

- sell in bulk to a store: there are only a few stores in the area which carry this product. I'd probably be able to sell it all pretty cheap to them, but they don't do a lot of sales so this wouldn't get me the most money.



Suggestions or ideas? So far I've invested zero dollars and have no obligation to do this, but it would be nice to make an easy few grand.

[WestIndianArchie]

Think like a buyer.

If you wanted your stuff, how would you find it?
- ebay
- craig's list
- google?
- classified ad in a real newspaper?

Then run a search in those various places.

If you see ads for your items, and sellers for your items - you know that other people are trying to sell those goods - so chances are better that there is an actual market.

If you don't see anyone else selling the stuff you're trying to sell, you may have a hard time selling it online or anywhere.

It wouldn't hurt to sign up for google adwords and use their keyword tool to figure out how many people per month are looking for "ultra specific word for your widget"

WIA

[worldwidetraveler]

You might want to check out Amazon ads as well. Look to see if there is something equivalent being sold there first.

[WesternCancer]

WIA: I never thought of it that way. If I were to buy them I'd either go to the store, swap meet or a specialty store. Unless I was looking for something really specific I'd hit ebay (ie. one of the "collectors" items). Swap meet would be my best "quick cash" option. Head over with a truck load of shit, sell it for cheap and take the leftovers to one of the stores in town or sell it in bulk to one of the other vendors.

worldwidetraveler: how does selling stuff on amazon work? I'd be able to sell it at slightly below store price that route. Ie. say its 111.99 at the store I could go $105. If I re-shrink wrapped it I could call it new.

[theArbiter]

Notice worldwidetraveler said Amazon ads, not necessarily selling on Amazon. From what I've heard, Amazon ads are really cost-effective since anyone browsing on Amazon is already in shopping mode compared to as if you advertise in Twitter, for example, or even Google. I think you can get a free $75 credit for a fiscal quarter. Anyways, you would have to have a storefront with this option (obviously, since the ad has to go to your product page).

If you sell on Amazon, they take a 15% referral fee and $1 off each sell (if you sign up for an Amazon Professional account = $40 a month , then the $1 is removed). There might be some other smaller fees, but I can't think of them at the top of my head. Also, if you're selling clothing (there's some other restricted categories as well), you need special approval before you can begin selling.

One disadvantage of selling on Amazon is that they get your data. If it's a small market, or you don't plan on scaling this up super big, then I don't think this is too big of a deal. It's just worth mentioning since Amazon has been using the data they get from sellers to develop their own private label products and selling them (I think they started this from 2009).

If you're going down the path of selling on Amazon, then you might want to use Amazon's fulfillment system (FBA: Fulfillment by Amazon). FBA sellers have a lot of leverage towards Amazon sellers since buyers get very strong customer service (A-Z guarantee) and they get free shipping benefits. For example, if an item is selling for $8.99 (+3.99 shipping), an FBA seller could sell such an item for $14.99 or more and still get sales. I'm assuming you're going to be the only seller, so this example might not be relevant, but the fact of the matter is that Amazon buyers put a lot of trust on FBA sellers.

Also, WestIndianArchie's advice on "Think like a buyer" is one that any seller should not ignore. It seems obvious, but a lot of people overlook this framework. Market research makes the difference in ensuring whether or not what you are selling in whatever distribution platform a dud or a success.

A lot of sellers often have the attitude "OMG my product ROCKS. I'm gonna do this and this and people will buy". Big mistake. This type of ego will ruin your business. You do not matter. Your buyers do. If you've ever read up the basics on writing copy, this is as fundamental an axiom one needs to drill in when it comes to buyer psychology.

[worldwidetraveler]

(06-03-2013 01:23 AM)WesternCancer Wrote:  

WIA: I never thought of it that way. If I were to buy them I'd either go to the store, swap meet or a specialty store. Unless I was looking for something really specific I'd hit ebay (ie. one of the "collectors" items). Swap meet would be my best "quick cash" option. Head over with a truck load of shit, sell it for cheap and take the leftovers to one of the stores in town or sell it in bulk to one of the other vendors.

worldwidetraveler: how does selling stuff on amazon work? I'd be able to sell it at slightly below store price that route. Ie. say its 111.99 at the store I could go $105. If I re-shrink wrapped it I could call it new.

Hey WC. I never used Amazon Ads but they work like Pay Per Click from my understanding. You will still need your own site people will click from Amazon to go to your site where you make the sale.

http://services.amazon.com/content/produ...amazon.htm

Basically what theArbiter said. Most people on Amazon would be in buying mode so it may be something to look into. I would also say PPC and Facebook but the learning curve may be bigger.

[WesternCancer]

Good advice so far. I put this on the back burner for the time being.

I have a finite amount of product (1000 units to start, but eventually closer to 3000). Think of it like this: I just bought a storage locker for $500 and its full to the brim with stuff I want to unload quickly, I know its worth my time. The amazon ads do sound like a good idea, but shipping and making a website would be a bitch as well as time consuming.

I'm going to start by making an inventory and rough price list. I'll hit up the relevant conventions within an hour or two drive. I'll be able to set up a big table with tons of product and all cash sales. I'll distribute an up to date product list by talking to the people there, giving it to the organizers and other distributors as well as forums and other similar organizations online. After a while I'll wholesale whatever low end product is left to nearby retailers.

Once thats all done with I'll start selling the rare and high end items online. Like I said some can get up to $200 retail and sell for just about that online. The super rare vintage stuff (from the 60s) can go for up to $400 on ebay which will be where I'll make the most $$$. I'll research the old shit and set up all that.

[Kickb]

It seems everyone is trying to be like your Boi and is going into sales.

Do you don't try to be me!