"Professional" eBaying

Ruthann

I'm hoping someone on here can offer me some advice. I collect something of which a new limited edition is released twice a year. I normally buy (for my own collection) the previous one when the new one comes out as several retailers reduce their prices at that time, sometimes by 50%. I've noticed when filling gaps in my collection that previous years items sell very well on eBay (once the shops don't have anymore there is no other way to get them). In particular the older the item the better the price. Also, sometimes they are not listed well - the ones with all the details (which i would know) sometimes go for triple the original price.

I am considering buying several extra (around £500 worth) on a 0% card and keeping them 12 - 18 months before slowly selling them. I should make back the money at the least and could make double what i spend - depending I guess on how many other people think of it.

Would this be a taxable thing? Is this allowed on eBay? I have sold things before (mainly unwanted gifts) and have 16 good feedbacks and no negs - I don't want to risk loosing this.

I don't want to get into trouble, these would be genuine, new with tags etc... not fakes. I wouldn't sell them all at once. The shop where I want to buy them is fine with the idea - they want to clear out for the new stock with higher margins for them.

Does this sound like an ok idea? (I can afford to pay the min payments on the card in the meantime). Would it be ok to do this over and over (i.e with every new edition?)

Any advice from experience eBayers would be appreciated.
Thanks

biblejohn

Sounds perfectly fine. I know plenty of people who trade on ebay for a living. The fact that you are keeping the item for 12 months before selling it doesnt really make any difference.

If you have goods to sell, then theres no reason why you cant sell them on ebay.

JPS

Ruthann, that is a brilliant idea, never mind an OK one! Care to tell us what you are selling?! lol just kiddin. It is good to keep it a secret if you can.

If the shop themeselves are praising your idea, try and work with them to obtain as many of these as you can at the lowest possible price.

Of course you won't get in trouble and of course eBay allow it. This is exactly how and why eBay works, people buying things and selling it for profit, also known as trading lol

How many of these things do you think you will manage to buy? As long as you know the market (and it certainly sounds like you do) and you know what the potential profit is, you sound quids in! And you can do it as many times as you like. Remember there will be eBay fees to pay and Paypal fees if you accept that (which you should). Plus your feedback sounds fine. Will you be
definitely selling these in around 18 months and not now?


Just don't forget about these things in 18 months time and leave them in the cupboard forever lol

Good luck with it.

Josh

cafenervosa_2

This is when it helps to know your products and to trade what you have a good interest in. Its very hard to predict when and if a certain item will increase in value over time, its all about experience and research, this can take years to learn the trends of certain products over the course of the year.

Ruthann

Thanks for the replies - I was worried that deliberately buying things just to make money (rather than just selling things I don't need/want anymore) was not really in the spirit of eBay.

I will hold onto things for as long as I can get 0% credit and don't need the money for new things. From my research prices don't really go up much for 12 months after the end of the edition, after that they seem to go up a lot. I do know the products, I've been a serious collector for 3 years and watch the eBay sales all the time as well as having every UK supplier with a website in my favourites! I think I would find it too stressful to do this with something I didn't really like myself.

Very good point about the fees - I'm going to check that on the websites tonight to see what sort of % they will be. If that's ok I'll place some orders tommorrow - very excited now.

Thanks
Ruth

PS Josh - I don't want to say what it is, but I will say its something most men will never own!

cafenervosa_2

For the fees 10% is not far off the mark if you take payments with paypal too. 10% might be a little too much but its best to overestimate because if you can still make a profit when taking out the 10% fees you should be on a winner.

JPS

Hmmm that narrows it down Ruthann! lol

You make an excellent point there CN - it's wiser to overestimate than underestimate and be left with a loss. 10% sounds about right, which includes listing fees, which can be fairly expensive if you decide to "advertise" your product (i.e. featured plus! listing which costs £10), FVF (final value fee) which is usually about 3.5% of the final auction price and Paypal fees which are around 4%.

Do let us know how you get on as I am v interested to hear, it sounds very profitable and you should do well out of it Ruthann.

payless

Thanks for the replies - I was worried that deliberately buying things just to make money (rather than just selling things I don't need/want anymore) was not really in the spirit of eBay.

No worries about the spirit- big firms use ebay as a distribution channel

tax- no thats another matter !