I found these Under Armour Undeniable socks, all size medium, on sale in the clearance section for $2 per pair at Marshalls, an off priced retailer, so I decided to bundle them into a lot of 3 pairs. The 3 pairs cost me $6.36 including tax. At first I listed the lot for $19.99 including free shipping for 30 days, after a week I lowered them to $17.99 with free shipping. Around 10 days into the listing I decided to break down the price to $13.99 plus $3.99 for shipping for a total price of $17.98, the socks sold 4 days later and had 14 page views.
So as discussed in other posts I don’t know why the broken down price sold vs the price including free shipping. I like following a price strategy, it makes me feel like I am in control, but maybe the examples so far would have sold if I would have left them alone and waited for the right buyer, there is no way to know, but they sold and that is the goal. I try to sell quickly, I do not want to hold on to items for a month or longer.
TIP: Bundle items if you can, I love this technique it saves on shipping fees and makes an item that was not really worth selling now worth it. It is hardly worth buying a pair of socks for $2 and selling them for $6, between fees, shipping, and the cost of the item there is maybe $1 left. However by bundling 3 pairs of socks you are now able to make a profit that is worth it.
The following is the cost break down for the 3 pairs of undeniable under armour socks:
$6.36 item cost including tax
$3.55 USPS first class shipping, I still did not have a scale so my shipping could have been less
$1.80 ebay fee (10% of the total sale)
$.54 Paypal fee (3% of the total sale)
$.08 poly mailer
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Total item cost including all selling fees $12.33, the item sold for $17.98, so I made $5.65. I don’t know about you but $5.65 is popcorn and icees at target.
TIP: Before you buy something, of course check current and completed listings, but also check how often that item is selling. This is something I learned the hard way. Before I realized I could buy inventory from a store and make money, I was searching online for something I could buy at wholesale prices. I came across this wholesale silver jewelry website. On this website I was able to choose my chain and my pendant. They had thousands of pendants to choose from, many of them family and hobby related, people love to where jewelry representing something near and dear to their heart, so I was really excited. I checked ebay and necklaces like mine were selling for around $20. I could buy them for around $10, after fees and shipping I would end up making around $6 per necklace. They were small so shipping was extremely inexpensive plus they did not take up a lot of space to store. So the website had a minimum order of $75 to receive free shipping so I ordered 8 necklaces. I chose a nicer chain than other sellers and the pendants I chose represented very popular concepts. I thought I was going to have no problems selling them; I listed them on ebay and waited, and waited, and waited….. Nothing, what was going on, I didn’t understand. So my husband who is always right about everything or so he thinks, says to me how many sold on ebay over this past month, I said what? He wanted me to check how often the necklaces were selling. So I checked and maybe one sold over the previous month, uuuggghhh. Needless to say I still have 8 necklaces for sale on ebay, I do now at least have 2 being watched, however they now are priced at $13.99 including free shipping that is the lowest I can go without losing money on them, so I will continue to wait… My point, always check to see how often an item is selling. The only time I will deviate from this rule is when I find something for an unbelievable price and I can wait a while to find the right buyer because the profit margin is really good.