I think the hardest part about being in the ebay and flea market business is pricing items.
Years ago, we started flea marketing and ebaying to accelerate our debt snowball while we worked the Dave Ramsey plan. I'm not sure that I've ever worked so hard in my life, but overall, we had a fun.
Back in those days, if I could make a buck on something at the flea market, I would sell it, generally speaking. My whole mentality was 'turn and burn', for every dollar that I made was one dollar that could pay off debt. The economy was booming back then, so buying and selling was easy.
Now that I'm full time in the business, and the economy is much, much slower, the game has changed. I find that it is harder now to understand pricing and pricing power than it has ever been.
Complicating this issue is that many items I have are desirable in the market, but there is no selling history on ebay.
For instance, I found some super tools at an estate sale. They are desirable, and very collectible, but even after months of research, I've only found one other like it, and it isn't for sale. Where do you put a price on that?
I also have a very, very rare dealer sign for a piece of antique equipment. Two of us have been searching the net for anything similar, with absolutely no luck. Is it a $300 sign? $750? $1,500? $3,000? I really, really hate to list it at $1500 and see it listed later on another site for $5,000.
I also have a Schwinn wheel hub in pristine condition. The selling prices are absolutely all over the board. Mine might be NOS, and one like it brought $250, but another in a little less condition sold for $55.
In addition, I picked up some very early auto and motorcycle magazines from the 1920's in superb condition. There have been a few single copies sell between $5 and $45, but I have a full year's collection. How on earth do you price those as a Buy It Now?
I typically sell items on ebay as a BIN, and rarely an auction. With rare items, you are taking a chance that the well heeled buyers are not looking during your 10 day auction.
The items that have a history, like a Lionel 2055 steam engine, are fairly easy to price for me. I know that market, and I know post-war Lionel, and there is a full history of what other 2055's sold for.
Thoughts? Ideas? Suggestions? Advice? This is maddening!!!!
Years ago, we started flea marketing and ebaying to accelerate our debt snowball while we worked the Dave Ramsey plan. I'm not sure that I've ever worked so hard in my life, but overall, we had a fun.
Back in those days, if I could make a buck on something at the flea market, I would sell it, generally speaking. My whole mentality was 'turn and burn', for every dollar that I made was one dollar that could pay off debt. The economy was booming back then, so buying and selling was easy.
Now that I'm full time in the business, and the economy is much, much slower, the game has changed. I find that it is harder now to understand pricing and pricing power than it has ever been.
Complicating this issue is that many items I have are desirable in the market, but there is no selling history on ebay.
For instance, I found some super tools at an estate sale. They are desirable, and very collectible, but even after months of research, I've only found one other like it, and it isn't for sale. Where do you put a price on that?
I also have a very, very rare dealer sign for a piece of antique equipment. Two of us have been searching the net for anything similar, with absolutely no luck. Is it a $300 sign? $750? $1,500? $3,000? I really, really hate to list it at $1500 and see it listed later on another site for $5,000.
I also have a Schwinn wheel hub in pristine condition. The selling prices are absolutely all over the board. Mine might be NOS, and one like it brought $250, but another in a little less condition sold for $55.
In addition, I picked up some very early auto and motorcycle magazines from the 1920's in superb condition. There have been a few single copies sell between $5 and $45, but I have a full year's collection. How on earth do you price those as a Buy It Now?
I typically sell items on ebay as a BIN, and rarely an auction. With rare items, you are taking a chance that the well heeled buyers are not looking during your 10 day auction.
The items that have a history, like a Lionel 2055 steam engine, are fairly easy to price for me. I know that market, and I know post-war Lionel, and there is a full history of what other 2055's sold for.
Thoughts? Ideas? Suggestions? Advice? This is maddening!!!!
To me it sounds like he's doing a heck of a lot for not much money. I really can't imagine doing a job like that because it's bad enough packing my own stuff never mind others. I gather this person is just an employee for the business? 
