I regret not enabling this earlier!

I think it's a mistake to not offer Returns on eBay here's an additional trick that you can do to reduce the number of returns you get so I definitely recommend you turn that on welcome back to my weekly show where I talk about the ups and downs and inet of selling on eBay let's jump into some viewer questions J.R rooper says your next side hustle should be reading audiobooks you're so calming thank you J.R roer I appreciate that let's give that a shot what do you guys want to hear we go about our daily lives understanding almost nothing of the world Jennifer asks hey Justin just curious if you wait to sell seasonal items until closer to the season or if you list and have a decent St Str no matter what time of the year you list them that's a really great question so if you get let's take a Christmas item for example if you buy it in the summer should you list it right away or should you wait until Christmas to list it here's how I handle that first of all items sitting unlisted are never never have the opportunity to sell so my default is to get it listed no matter what however I price my items that are seasonal at the height of the season so even if it's the middle of the summer I do the research to see how much was this item selling during the height of the season and then I price it at that amount personally I don't mind hanging on to inventory for a longer period of time so I would rather get more money at a later date than sell it right away for a smaller amount Christmas items do sell year round but typically they sell for a lower amount than they do at the height of the season so when you do a search on eBay for sold comps those are limited to the last 90 days of sale so in the middle of the summer if I do research using sold comps I'm only going going to get the last 90 days of sale so I have no idea what that item actually sold for during the height of the Christmas season so you hop over to terapeak I don't think they call it terapeak anymore they call it product research and that'll go back two years so you can actually see okay at the height of the season this item was selling for this much money and so I pric my items my seasonal items at the height of the season and if somebody buys them offseason great if not they'll sell for that amount most likely when it comes around to Christmas time it's also a good idea as you're getting into Seasons if you do sell seasonal items is to recheck those price comps as you're getting into the season because it could be that they're worth more money the next season than they were the previous season or it could be that they're worth less and you wouldn't sell it so it's a good idea once it gets closer to Christmas like the start of Q4 is a great opportunity to go in check your Christmas items do some more comp research adjust your prices is necessary hi Justin love your videos they are very informative thank you I just started selling on eBay in March and it's going pretty slow but one question I have is when I look to see if I had any views on an item one day it might say eight views but then the next it is down to maybe four my question is how can the views go down thanks so if you're just starting to sell right now on eBay this is one of the slower times of the year so don't get discouraged most everybody is slower than they will be later this year sales will start to ramp up the closer that we get to Q4 and this is a good time to prepare for that to get a lot of good inventory and be ready for Q4 cuz sales will increase dramatically during that time period but to answer your question specifically how do your number of views go down the reason that is is because the number of views that are being shown to you by eBay there is from the last 30 days in a rolling way so like the last 30 rolling days if your item got 10 views 29 days ago tomorrow those 10 views are going to get knocked off because it's only showing the last 30 days of views on there and so that's why they go up and down all right let's jump into my sales for the week by the way I'll be answering more viewer questions sprinkled throughout my top 10 sales so stick around if you want to see those and if you have any questions for me don't hesitate to ask down in the comments below and I will answer them in a future video it looks like over the past 7 days I had a Roi of 9 27% and a 54% net profit margin both of those are very good numbers for me typically my Roi is between 6 and 700% and my net margins are right around 50% so both are looking good there my gross income is down and my net income is down though and so did not sell as much as I normally do in a given week this week but that's okay there's going to be ups and downs looks like I had 39 new listings and 24 sales over the week 35 listings is my goal five per day and so I did exceed my goal here so that's good I think that's two weeks in a row that I've exceed my goal 24 sales though typically I sell 1 to one and so when I sell lower than 1 to one that signals to me that eBay is running a little bit slow at least for my store and that was definitely the case this week looks like my average time to sell that's interesting 6 months and so average time to sell here means of the items that did sell how long had those been sitting on my shelf and they had an average age of 6 months my average age usually is right around 3 months so this means I'm selling a lot of older inventory and we'll jump into my top 10 sales here in a second and see what that older inventory was and I spent a total of $66 on new inventory over the past s days so didn't do a whole lot of sourcing also noticed something funny on this backpack that I sold here a couple weeks ago I got a shipping credit pop up that I wasn't expecting with a credit of $2.7 and eBay told me in this case that I put 14 ounces as the shipping weight and they said nope it was not 14 oz it was only 2 O so we're going to give you some money back there's no way this backpack only weighed 2 oz so kind of weird that USPS did that have you ever had that happen to you I've definitely had it in the reverse where they said it weighed more than what I said but I don't think I've ever had it happen where they said it weighed less and they gave me money back and it was there's no way that it weighed as little as it they said it did so not sure what's going on there but I'll take the extra $2 coming at number 10 is this Fisher Space Pen this is one of my favorite sales of the week for sure not because it brought in a lot of money it only brought in $13.98 a net return uh it's because I found it in a backpack that I bought in a in a pocket and so I love finding things like that where I think I bought the backpack for like five bucks the pen inside of it already paid for more than the cost of the backpack I can't remember what backpack it was but I probably already sold the backpack uh it's just really great to find stuff like that that's resellable that you weren't expecting to get so check your pockets make sure you're checking all of those things and it's so fun to find things that you just weren't expecting um and to get them to sell like this was really cool so 10th best flip of the week $21.98 $33.98 net return I think this is a pen where you like I guess you could be an astronaut and use it I'm not really sure I doubt my buyers is expecting to go to space anytime soon but it's a cool pen to have coming to number nine is this vintage St Louis Bread Company Panera coffee mug so Panera is a a restaurant chain around the country in the US here in St Louis where I live they're still called St Louis Bread Company because that's the origins of Panera I bought two of these mugs here this is the second one that's sold looks like yeah this has a net return of $14.39 but on the two mugs I had a total net return of $29.33 so I spent eight bucks on Two And nett it out at 933 this one netted out at 1439 for the ninth best flip of the week St Louis Bread company's gone way downhill though I just I don't like going there anymore at all the food is mediocre the prices are high but I don't go there very often and the coffee is really bad I don't know Wags asks hello question when a buyer opens a dispute like item not received but tracking shows it delivered and eBay steps in at the end of the resolution period insides in your favor and closes the dispute does this have a negative effect on your account I have heard that when eBay has to step in for the solution it can or does but I'd assume that is only when it is in a negative way I'll preface this by saying I don't really know and eBay does not make this information freely available what impacts the algorithm and all of that but I think you're right um I would side with you on what your hunch is here that if eBay steps in and decides a case in your favor like that you know you you didn't do anything wrong and they just proved you did nothing wrong so why would they hurt your account in any way to do that and so to me that just makes sense that that would be the case coming to number number eight is this vintage kaboodles did you have one of these back in the 80s for your makeup I did no I didn't uh my sister did though she definitely had some kaboodles I got this out in a estate sale one of the weirder estate sales I've ever been to it was at an old moving company Warehouse where somebody didn't pay for their moving truck of stuff and so they dumped it all out in the warehouse and you could walk around and buy stuff this is one of the things that I bought it took 3 months to sell for $44.98 the net return on that was $14.56 for the eighth best flip of the week it's vintage Kabul coming to number seven is this Michelob Ultra Pearl isumi biking shirt so this came in at $31.98 for the seventh best flip of the week my net return on it was $14.70 I paid $8 this is a thing when I saw it on the Shelf I knew it was an immediate buy I didn't have to check anything I know Pearl Lumi is an okay brand they've got a pretty good sell through rate but I knew somebody was going to want this new with tags Michelob Ultra Jersey and I was right it did take two months to sell but you know pretty good return for the 7 best flip of the week F asks watch you regularly enjoy and agree with you most of the time most of the time that's it just kidding I want to ask if you ever sell or considered selling on consignment for a friend or family and if so what you would suggest to be equal for both parties keep up the good work thank you so I don't regularly sell on consignment for other people I have in the past occasionally typically I try to work out a deal beforehand to just buy the stuff out right from the person so if there is a dollar amount that they want for something and it works in my favor for the margins to be able to sell later on eBay I try to do deals in that way selling for other people on eBay it can get kind of messy especially if they just don't understand how eBay Works they may think that their items are way more valuable than they actually are or they might not be prepared for those items to take 6 months or 12 months to sell there's a lot of Education that goes into the process if you're trying to sell for other people uh but if I do typically what it is is like a 50% split after all the fees and so there's no cost of goods for example but all the fees and shipping costs and all that you get a net return then you split the net return with the other person 5050 that's how I've done it in the past I also don't pay out until after 30 days have elapsed from the sale uh that's just to account for returns and so if a thing gets returned you don't want to have to go back to the person you're consigning with and saying like oh I need my money back cuz this thing got returned so it it just adds a little little complexity to it I prefer to just sell stuff outright coming at number six is these vintage Adidas Boston Celtics shorts I've had these for over a year it looks like is that right looks like I bought these back on June 7th 23 and they sold on June 12th so just over a year it took these to sell I guess it took Boston having to be in the NBA Playoffs for these shorts to go out the door for $34.98 and $18.45 net return pretty cool shorts I don't know why it took so long to sell but that's the sixth best flip of the week coming at number five is this belt from Tony llama Tony llama is a brand that makes boots I didn't know they make belts I guess it makes sense if you're making boots you can also make belts I bought this at a garage sale 25 days ago for $2 it sold this week for $36.48 for the fifth best flip of the week a $24.59 net return pretty good return on a belt like that huh I don't sell a whole lot of belts in fact let's see how many belts have I sold I've sold more belts than I thought I've sold this's Tony llama belt here I have a running belt belt buckles there a rigger belt another belt buckle wow okay well turns out I do sell belts more than I thought Johnny asks what are your thoughts on listings that use variations versus individual listings for each item for example video game resellers will sometimes make one listing with a main picture that shows a pile of video games the potential buyer can then go into the listing and select from the available games so that sellers listings will pop up any time someone searches for a game that is in the list yep so that's definitely a strategy that a lot of folks use on eBay is to use what's called variation listings that allows you to create a multi- quantity listing so a listing with many different units with variations of those units and so the buyer can pop into to a listing and they can select in a drop down give me this particular game for example and that's how they would go about buying it I've used this strategy before it's not a strategy I use all the time I don't sell the type of thing very often that would lend itself well to this type of strategy uh but when I have in the past I've had mixed results the big reason why you may want to do this though is because you can keep a single listing live for a super long amount of time and sort of build some SEO value behind that listing I'm not going to pretend to know exactly how the algorithm works on eBay nobody knows but eBay themselves but it's a pretty safe bet to say that if you have a multi quantity listing that's been published and selling things for you know months or even years that it's a pretty good idea to keep that listing live and just replenish it with more and more inventory and eBay offers a lot of functionality to allow you to do that so that suggests that they want you to do that type of thing and that that's a positive thing so that's the benefit of doing that type of listing is you get to keep one listing live replenish it with all sorts of new inventory with the idea that that listing is going to have a lot more value than a brand new listing that you just put up there are some negatives with this strategy one of the negatives is it's hard to be really descriptive about the individual units and so if you're selling things that need to have really robust descriptions it can be difficult to give robust descriptions about that individual item in a single listing like that and so that that's one of the the negatives and so if you're selling some like if you're selling a video game and you need to disclose that this one particular video game you know has a rip in the booklet for example like you could disclose that but it's very difficult for the buyer to see it in the listing and notice it and so you may want to break that out into its own listing so that you can give it an appropriate description and reduce the risk of getting an item not as described on it the other negative is that creating and managing listings with variations on eBay is kind of a mess the whole UI that user interface for it is not good it's confusing it's difficult to use I think eBay should invest some time into making that experience better cuz as a seller it's just really hard to use and so that's the other negative coming to number four is this vintage quein art motor based replacement yall know I'm a fan of buying these things and parting them out this one just has brought in some incredible money this is the fourth best flip of the week for $44.98 C just the just the base motor uh had a net return of $26.80 you might think this cost a lot to ship but only $10.50 Cent so that was good but I mean I'll just use this as an example let me just find the other pieces that I parted out from this same purchase if I just search dlc8 you'll see here yeah so I sold this one for a net return of 2680 net return of 27 2735 for the lid and the bowl 2757 so I've made basically $75 off of this $3 purchase by parting this out and I've got other pieces to go so it's just incredible money you can make by parting things out on eBay like this so I buy them I don't test them if they work great if they don't then I part them out in this case I parted it out even though it didn't work because it was going to make more money sold individually and it keeps stuff out of the landfill coming at number three is this Cameroon 2014 home soccer jersey by Puma it sold in 29 days for $494 looks like I picked it up at a garage sale for $5 and had a net return of $335 just a cool looking soccer jersey I love buying soccer jerseys this one was really weird though I had to put a read in the title there because the measurements on it did not match the size it was sized at a men's like double XL uh but when I measured it out it was actually a large and so what I did is I I put large in the title even though that wasn't the size on the tag and then I just put read in there and I explained in the description that the tag says XXL but it's measured out uh with these dimensions and that's typically a large and so hopefully hopefully this works out okay but could be a chance that I get a return on it NT McMillan asks do you communicate with your buyers after purchase to think them or let them know the item is on the way good question I do not contact my buyers after they purchase in any way eBay already lets the buyers know when their items have been shipped and when they're on their way and or if they've been delayed so their automated system does a pretty good job of keeping buyers in the loop on the status of the products they're ordering so I don't waste my time doing the same thing I also don't reach out to thank them or do any other proactive communication after they've purchased in my opinion a silent buyer is a happy buyer and I don't want to introduce any opportunity for that buyer to ask questions or potentially think about opening up a return so I don't do any Communications at all after they buy this is a good opportunity to talk about Returns on eBay though cuz I do have some tips for you first if you're new to selling on eBay you may be asking yourself whether you should be accepting returns or not eBay has some pretty complicated return policies that you can enable and you can disable returns entirely and that may sound like an attractive option but I'm going to do my best to talk you out of it because I think it's a mistake to not offer Returns on eBay and here's why the biggest reason you should be offering returns is even if you do not offer offer Returns on eBay buyers can still return the items all they have to do is open up an item not as described case and the return will be approved automatically and they can return the item even though you don't offer returns and so you might as well get the benefit of offering Returns on eBay eBay says that you will increase your sales up to 25% by offering returns and I don't really know how to fact check those numbers but I try to think of it as a buyer myself if I see a listing that says no returns the chances that I'm going to buy something are slim you know it's just so it's 2024 e-commerce has been around for almost three decades not accepting returns for things sold online is just sort of bizarre I get why you don't want to accept returns you want to just be done with it but almost all buyers expect to be able to return something if there's a problem and so I offer free returns on everything uh free returns means that I pay the shipping cost back to me if a buyer wants to open a return for any reason and you may think wow that probably opens you up for a lot of returns and it really doesn't uh my return rate hovers right around 3% % and I think that's a pretty good number I'm not really too concerned about it three sales out of 100 get returned the vast majority of those sales that do get returned I get to resell them anyway and I don't end up losing any money for example here is a code scanner for a car that I sold you'll see here I sold it back in May it got returned and refunded and I relisted it and it sold again later that month and I ended up you know only making $453 on it but I didn't lose any money on it that's the point or here's a pair of shoes these things got returned as well I originally sold them for 50 bucks in February they got returned and I sold them again in March for $34.99 I still ended up making $12.85 on the deal even though there was a return in there that's offering free return so I paid the return shipping cost you can see that right there return shipping label all that's factored into my net return there so my point is offering free returns you get the benefit of advertising free returns and making the buyer feel all warm and comfortable knowing that if they have an issue they can return it and not have to pay any money and even if that does happen which it's going to happen and to me it happens about 3% of my sales I still don't lose money on those deals for the most part and here's an additional trick that you can do to reduce the number of returns you get even further when you enable returns there's also an option on eBay to require RMA RMA stands for return merchandise authorization and it's a feature that is used by I think larger e-commerce companies to make it easier to track returns when they happen and track the shipping of them but what it does is when you get a return on eBay typically eBay is going to approve that return and allow the buyer to print a shipping label automatically without you having to do anything which can be a good thing for a seller you don't have to do anything it just automatically happens in the background but that also can be a bad thing because somebody might open up a return on an item for a reason that you can actually fix without having to go through with a return and so if you enable RMA on here what that does is it inserts a step in the return process where you as the seller have to take an action in order for the return label to be sent to the buyer and so in this case when I get a return with this RMA enabled it inserts a step in the process where I get to input an RMA number before the shipping label is sent to the buyer for them to print you don't actually have to enter in an RMA number at all but what this does is it allows me to then before I approve the return and have the label sent it allows me to reach out to the buyer so for example let's say it's a return on some electronic item I can reach out to the buyer instead of approving the return label and saying like hey was there an issue can I help you troubleshoot and I've been able to reduce the number of returns that I actually get by inserting this step in the process and being able to reach out to the buyer and figure out if we can work out a deal or figuring out if I can help help them figure out why it's not working or all sorts of reasons and so by requiring RMA again you don't have to put in a number it just allows you to be more actively involved in the return process and work with the buyer to try to not get the return to happen so I definitely recommend you turn that on I think it'll reduce the return rate that you actually get it's certain reduces mine coming in at number two yet another soccer jersey this is the England national team number 10 Owen it's sold for what did it sell for $59.98 it took 12 months to sell so it did take a while but my net return was $44.31 I got it at an estate sale for $3 I just love buying soccer jerseys pretty much any soccer jersey you see as long as it has one of the big name brands on it like Umbro or Nike or Puma or Adidas is going to be worth it especially at a purchase price of only3 here so it did take a while to sell probably Owen is not that much of a desirable player I guess or I don't know I don't know why it took as long as it did to sell but happy to get it out the door for the second best flip of the week that leaves us with number one these Patagonia pants here these were fishing pants I got these at an estate sale for only $2 y'all this was the best estate sale that I've been to in the last year at least maybe two years I got so much stuff uh it was a someone who was renting a house these were the homeowners and the guy had not paid rent for a long time and I guess he just left and they gave him a bunch of time to come get his stuff he never did so they let a bunch of resellers Like Us in there and they were just basically giving this stuff away they just wanted it gone they had no sentimental attachment to anything in the house and it was amazing I filled up so many Ikea bags worth of stuff and this was a really great find for $2 $77.99 for the best flip of the week the net return is $57.36 for these Patagonia pants just a great sale I do have a correction to call out from my last video I am a human I make mistakes but I want to be able to call those mistakes out so that you all have the right information my last video I talked about the Viro program and how Brands can use that to prevent people from selling their brands on eBay uh one of the commenters pointed out that it's a little more nuanced than that it's not just about preventing you from selling things on eBay the Viro program it is that but it's also about how you can sell and it's a lot more Nuance than that and so I would urge you to go over to the Viro page on eBay and read about that program and why it exists but I showed a list of a bunch of brands on there saying that these are all the brands that you're not allowed to sell that was incorrect um you can sell many of those Brands but there may be restrictions about how you can sell those Brands and it also the Vero program includes things like uh authenticity if you try to sell a you know Adidas hat uh and it's clearly inauthentic the Vero program is is meant to protect Adidas in that case and not allow you to sell that which makes total sense so please accept my apologies I was not correct in saying that that's a big L of Brands you can't sell as always thank you so much for watching if you missed last week's episode click here to watch it now if you like these videos I do them every week so hit that subscribe button and join me next Monday thanks and see you soon

Channel: Justin Resells

Views: 15,152

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Id: Ms6O3ybPtm0

Length: 23min 15sec (1395 seconds)

Published: Mon Jun 17 2024