Cash tied up in inventory

[jerseyben]

If parted out a few record players in my day.

There was a guy fairly local to me who was buying record players and he was paying very fair prices. Well, records and stereo equipment happens to be one of my main specialties. I started loading up on record players. That was a year ago and now, I cant get a hold of the guy. I finally gave up so now I am stuck with a pile of them. Oh well... My own stereo equipment just keeps getting better and better as a result. Not a big deal.

 

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[Keppy]

If you are having cash flow problems then you may want to consider taking a break for a while. Ask yourself what your "goal" or reason is for doing this. If you do not have a direction, then you are just hopelessly burning through money.

If you are trying to make this a business, then you might consider consulting an accountant and/or taking some business courses at a community college. If this is just a hobby, then consider revising your strategy so you do not get stuck with a pile of stuff you cant move.

Well i know some that are doing great on Ebay and have never seen a accountant or took a college course ..

 

[Buckeyedon]

You make your money when you buy an item. If you can’t double your money after expenses pass on it. I use the bakers business plan Roll the dough. The rare, weird and seldom seen items sell fast. Ounce a year cull out the stuff you’ve had for a year or are tired of looking at and run them thought a consignment auction. And buy, buy, buy.

 

[leadnbrass]

There was a guy fairly local to me who was buying record players and he was paying very fair prices. Well, records and stereo equipment happens to be one of my main specialties. I started loading up on record players. That was a year ago and now, I cant get a hold of the guy. I finally gave up so now I am stuck with a pile of them. Oh well... My own stereo equipment just keeps getting better and better as a result. Not a big deal.

I have the exact same issue with antique doors. When I was doing the flea market I had a wood working restoration guy stop by like clockwork whenever I set up.

Any time I had an old door he would buy it.

I stopped by a yard sale last year and ended up buying about 20 very heavy antique doors for a darn good price...needless to say the guy has never shown up again.

 

[Joe777Cool]

You make your money when you buy an item. If you can’t double your money after expenses pass on it. I use the bakers business plan Roll the dough. The rare, weird and seldom seen items sell fast. Ounce a year cull out the stuff you’ve had for a year or are tired of looking at and run them thought a consignment auction. And buy, buy, buy.

In my experince you make your money when you SELL an item! I dont agree with the "double your money" premise, either. $ is $, and if I can make $50, $100 or $200 on a item/deal and I dont have to risk too much cash for an extended period of time you better believe I'm gonna do it! Many times I have purchsed $1000+ in coins and have only made $100-150. 4 singles produces the same number of runs and 1 homerun!

 

[billjustbill]

I have the exact same issue with antique doors. When I was doing the flea market I had a wood working restoration guy stop by like clockwork whenever I set up.

Any time I had an old door he would buy it.

I stopped by a yard sale last year and ended up buying about 20 very heavy antique doors for a darn good price...needless to say the guy has never shown up again.

Know why he hasn't been by...... He went by the same yard sale and bought the "FIRST Twenty" doors....

 

[mugsisme]

Excellent advice! Leadnbrass, you sound like me. I tell myself; not going hunting; gonna sell. I took my CC out of my pocketbook. I put them back in. I took them out. I put them back in. And it doesn't help that my friend calls me up on Friday; she found two pairs 14K earrings at a store I was at the day before . Oh well; that is the way it goes.

I've been working really, really hard at taking pictures and getting listings up. I sorted through my "vintage" box of stuff I was holding onto, and took a HUGE box to a new consignment store. I told the woman, I don't care. Baggie them up and sell them for $10 a pop. If she makes 10 bags and sells them, I made $50 for next to nothing. My stuff is thankfully moving in the other consignment stores. The only problem is sorting through my stuff and deciding what to take. The store that does the best has a 20 item a day limit. I try to go three times a week to each of those stores. (They have two locations.) The down side is they only cut checks once a month.

I'm sorta waiting for gold to go up a bit before I start listing my holiday auctions. It seems to me that the stuff is not moving like it did last year. I am wondering if I need to wait until closer to Thanksgiving to start them.