G-U-L-P!!

[clovis97]

After having some pretty good success picking tools off of ebay, and flipping it for a profit, I've been trying to spread my wings a little, and delve into toy trains.

I've been watching a gazillion auctions end, and almost striking out each time, but I found four deals today.

I bought all four deals today to add to another small deal I found last week. Total spent, about $350.

GULP!!!!

One of the deals was an engine. I've often seen train guys be "asleep at the wheel" on some auction items, and I think this is one of them.

Overall, I feel pretty confident, but it is still nerve racking. On one hand, even though I've been messing with toy trains all of my life, I still feel like a neophyte while trying to buy and flip in this category. I'm not trying to get rich, but I would like to flip these items fairly quickly. I am not broke, nor desperate, but keeping the money moving is going to be key for me.

I suspect, right now, that I am going to be really tight on one item, but another lot of cars that I bought should help cover all the purchases. I am still scratching my head a little as to why the seller listed that lot for such an attractive BIN price.

If I get them in time, I might take these trains to a swap meet next week and try to sell them there, and honestly, selling them for cash would be an ideal scenario for me. But if they don't sell, I'll quickly list them on the 'bay with BIN prices.

Well wishes and words of wisdom are always appreciated.

 

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[Tejaas]

I'll admit I'm not a collector of trains, but I am addicted to anything relating to the history of Texas.

If you come across a scale model of this exact ALCO RSD-15 pictured below I guarantee you'll have a buyer!

I want it for a shelf display, but since I won't even utilize it for its intended purpose to run on a track I can't bring myself to pay the $300 MSRP!

The first picture is one I took of #442 stopped in Brenham, TX while it was doing a "traveling history" tour.

The second is the HO scale model of #442.

Best of luck in your new business endeavor!

 

[clovis97]

Keep checking ebay, Tejaas. One will eventually turn up at a price that you want to pay.

Since you are into Texas trains, how about the Lionel 2245? I am in love with those!!!!

 

[clovis97]

I just added another engine and tender from a late night auction.

I am spending $100 bills faster than I can earn them!

 

[Iron Patch]

I am spending $100 bills faster than I can earn them!

Welcome to my world! When there's more competition and the margins are tighter it can be difficult to find a balance between buying and selling. If you know you're getting deals and don't mind tying up the cash you'll be good for a while, but little to no sales would make a person rethink the situation.

 

[jerseyben]

Welcome to my world! When there's more competition and the margins are tighter it can be difficult to find a balance between buying and selling. If you know you're getting deals and don't mind tying up the cash you'll be good for a while, but little to no sales would make a person rethink the situation.

The money isnt spent. It is just temporarily tied up.

 

[Iron Patch]

The money isnt spent. It is just temporarily tied up.

Isn't that what I said?

 

[CladSpends2]

The money isnt spent. It is just temporarily tied up.

I never think of my buys to re-sell as money spent. It is money INVESTED. And yes, that is the same thing both IP and Ben said. LOL

T.

P.S. Without getting into technicalities of finding someone to buy it, do they have the money, do you dicker well or take the first lowball offer, etc, it is how well you invest that determines your return.

 

[clovis97]

Thank you for the replies!!!

I just bought 3 more cars for a total of $90.

One side note: these three cars were part of a set. The seller had 10 cars total, but since they use a listing service, each and every car ended at the same time. I'm sure that some would argue that this benefits the seller because the buyer has to put all of his top bids in well before all the listings end.

In my case, I was trying to gang up as many cars as I could since the seller combined shipping at $1 per car extra for each one won. Had the seller spread out the ending times, I would have jacked my bids quite a bit after winning the first one. On some of the cars, I would have bid $20 more per car, and several others, $10 more.

Not sure that any of that makes sense, but I hate it when a seller groups lots of stuff to end at the same time!!!!!!!

 

[clovis97]

I've bought a few more items, including another car and another engine.

I'm in at well over $500 so far. I'm getting a little more nervous and cautious, so I passed on an engine, an accessory, and another lot containing two engines and two cars. Whoever won those got some killer deals, and it made me sick to see them go so cheap. I will most likely pass on a few more items ending today.

It is going to take me a while to figure this market out, but I still think there is money to be made. I swear that the demand/prices for stuff is up and down like waves in the ocean. For instance, I bought an engine two years ago for $90. I passed on one last night that sold for $47. In the past year, an accessory that I watch couldn't given away on ebay, but now they are selling for a small fortune.

I'm pretty certain that I am taking anything that I get delivered this week to the train show this weekend, even though I don't have a table, and all of the tables are sold out. Maybe I can strike a deal with a dealer, put some of the items on their table, and give them the same percentage I would have given ebay?? Lots of these dealers are very casual and willing to help out. The advantage to selling at a show is that most guys come loaded with cash.

Wish me luck!!!!

 

[clovis97]

I should add that I am getting pretty close to my greed/fear level with the trains, based on the limited knowledge and expereince that I have.

Funny, but true.

I don't know if any of you have read or watched a show about most people's greed/fear and the psychology around it, but it is interesting stuff.

 

[Iron Patch]

I've bought a few more items, including another car and another engine.

I'm in at well over $500 so far. I'm getting a little more nervous and cautious, so I passed on an engine, an accessory, and another lot containing two engines and two cars. Whoever won those got some killer deals, and it made me sick to see them go so cheap. I will most likely pass on a few more items ending today.

It is going to take me a while to figure this market out, but I still think there is money to be made. I swear that the demand/prices for stuff is up and down like waves in the ocean. For instance, I bought an engine two years ago for $90. I passed on one last night that sold for $47. In the past year, an accessory that I watch couldn't given away on ebay, but now they are selling for a small fortune.

I'm pretty certain that I am taking anything that I get delivered this week to the train show this weekend, even though I don't have a table, and all of the tables are sold out. Maybe I can strike a deal with a dealer, put some of the items on their table, and give them the same percentage I would have given ebay?? Lots of these dealers are very casual and willing to help out. The advantage to selling at a show is that most guys come loaded with cash.

Wish me luck!!!!

First get an esnipe account. It's great for when you're not around, but also serves as a backup. I'm around to bid on most things, but always back up my bids just in case something happens.

In the situation you describe if there was 10 items ending at the same time the first thing I would do as I said above would be to enter all my snipes. Then with 10 or 15 minutes left I'd open a new window for all ten auctions and enter the amount I was going to bid. You have everything ready to click, and once the time is down to about 15 seconds you start clicking them one after the other. When you place a manual bid for the same amount as the snipe it overrides it, and you don't pay. If for some reason you didn't click all 10 in time, the snipe saves you and you still win... just pay the small fee for using the service. I remember once a seller had about 40 things all ending at the same time and I won 36 of them.

 

[Iron Patch]

I should add that I am getting pretty close to my greed/fear level with the trains, based on the limited knowledge and expereince that I have.

Funny, but true.

I don't know if any of you have read or watched a show about most people's greed/fear and the psychology around it, but it is interesting stuff.

I'd be scared if I logged on ebay and wasn't greedy!

 

[clovis97]

First get an esnipe account. It's great for when you're not around, but also serves as a backup. I'm around to bid on most things, but always back up my bids just in case something happens.

In the situation you describe if there was 10 items ending at the same time the first thing I would do as I said above would be to enter all my snipes. Then with 10 or 15 minutes left I'd open a new window for all ten auctions and enter the amount I was going to bid. You have everything ready to click, and once the time is down to about 15 seconds you start clicking them one after the other. When you place a manual bid for the same amount as the snipe it overrides it, and you don't pay. If for some reason you didn't click all 10 in time, the snipe saves you and you still win... just pay the small fee for using the service. I remember once a seller had about 40 things all ending at the same time and I won 36 of them.

Thank you, IP!!!

 

[clovis97]

Well, I've been blessed to have some limited success with my train flipping venture.

I've been both excited and nervous today, winning some auctions and loosing quite a few others. My heart was racing today when I bid and almost won an auction that could have put some money in my pocket, but I got outbid with seconds to go. This would have been the riskiest venture as of yet, but a profitable one. I don't mind losing it. I drew a line where my bid/profit needed to be, and was outbid.

There is another auction coming up for a large lot of very desirable pieces. The seller has an attractive BIN price, and even more attractive auction start price. As much as I want to hit the BIN button, the numbers just don't quite work for me. If it is still around in 3 days, I'm pretty sure I will bid on it.

Iron Patch: Do you ever have times where you buy something and think, "Did I just buy what I think I bought" because it was an incredible deal?

That exact thing has happened three or four times in two days. I bought an engine Friday night, and couldn't believe my eyes. Since I am a rookie at this, I hit the best offer button, and it automatically accepted my lower offer. I don't understand why on earth the seller listed it so cheap, and then took an offer. The engine arrived today, and it is far better than I expected. I think better pics and a correct listing category should make a profit of $75 to $85.

I know getting a steal is probably old hat to you. It shouldn't be to me. I've been attending auctions since I was a mere lad, and know that things like this happen all the time. I guess I didn't expect to get so many great deals so quickly.

I am either very blessed to find these...or a stupid buyer who has jumped in with both feet, LOL.

 

[billn1956]

wish you all the luck in the world..Just do not forget to enjoy it,,or it will become a job.