Make £5k in 12 weeks? who is up for a game?

lauren_1

Hi....I've not been on here for a very long time...some of you may remember me from threads such as 'The Frugals' and 'The return of the Frugals'

I need some moral supports and some competitors.

The name of the game is 'ebay doubler'

You start with £1, £5 or £10 but no more than that... you buy 'stock' to the value of what ever you start with and hope to double it in that week, reinvest the original amount and profit and hope to double that and so forth and so forth.

It gets really hard as the weeks go on, i play this with my other half and a few friends, recently my sister has joined in and its more of a laugh that anything, seeing what god awful thing we can label as 'vintage' and sell on.

My winning streak lasted for about 4 weeks last time :T and from a £10 initial investment the £120 made came in very very handy.

So if anyone fancies a challenge feel free to tag along, I am starting a new round next week (items usually listed to finish on friday or saturday after 7pm)

Amara

Oh, what's an interesting challenge! I'm up for it, but what kind of stock do you buy and where?

lauren_1

I tend to lurk around charity and junk shops, now the weather is nicer car boots and fete's might prove handy.

I started doing the game to help curb my shopping addiction which crops up every time i get a bit depressed, so its never really cost me anything yet.

You can use what ever you like as stock, last time i started off with a thomas the tank engine t-shirt and a pair of topshop maternity jeans (£2 from oxfam, sold for £8, then reinvested in a pair of old Dr Martens from clic sarget sold for £28, then in to a buggy from preloved, sold for £70 then finally on to 3 guitars from ebay that were local and didnt offer postage and had a bit of a rubbish photo...didnt quite double that one but made £120 from that round.

Amara

Hmm, interesting. I'll give a go with £5 stock, I'll look what else can I to sell, I use Ebay quite often already.

central

Ah so you buy off ebay and sell on ebay :T

lauren_1

Sometimes, if its an item i know will sell fairly well and the seller doesn't offer postage then I might take a gamble and have a go.

All's fair in love and debt.

newlifeahead

This is an interesting challenge, I would love to join but I am rubbish at things like this but I will subscribe.
Good luck to you and anyone else who joins.:money:

lauren_1

Oh come on and have a go! You could try rather than trying to double it transfer the same £10 + any postage back to a bank account after each auction cycle and keep the remainder in a paypal account and keep the game going that way?

Amara

Hello! I started mine: I've listed a bid bird cage. We had it after our parrots . I've priced it £5. Let's see what's going to happen.

Hannah_10

This sounds like fun and actually, I fancy my chances with £1 on this more than with £1 the lottery. Count me in for just £1 please. That way I wont feel guilty if I lose it on the first item (I usualy just lose it on the lottery a couple of times a month instead, hope being a precious thing).

Now to be clear as I understand it, it goes like this.
1. You start at either £1, £5 or £10 (I personaly chose £1)
2. You spend that £1 (or £5 or £10) on anything you think you can flog.
3. When you flog it you try to make a profit.
4. You then invest what you gained from that sale on something else to flog.
5. You see how long you can keep profiting for, before you make a loss.
6. If you make a profit 12 times before you make a loss and your final profitable sale was worth £76 then this is the measure of how successful you were (less your intitial £1/£5/£10).
7. You can buy whatever you choose, from wherever you choose, and sell it wherever you choose.
8. Top tips include having even more fun by buying something absolutly hideous and selling it as "vintage".
9. Another top tip is to buy from jumble sales, car boots and charity shops and sell on eBay.

Have I understood that right?

bellkat

I think this sounds like a fun idea, I'll start at £5. Just been having a look in our local charity shop, and most items, such as tops and children's clothes are all priced £3-4 pounds!! I thought that seemed quite expensive, and a lot of it was from Primark, so wouldn't have cost much more than that anyway.

Kath