To BOLO or Not to BOLO

If you have followed my blog from the beginning, you've probably noticed that I've been MIA for a long time.  I started this blog right around the same time that Facebook groups started popping up; groups that tell you how to and what to sell online.  This has snowballed into a huge increase of online sellers but it has also generated a "race to the bottom" in pricing.  

It's fun to read about BOLO (be on the lookout) items and even more fun to find them.  Just keep this in mind; you don't have to be the lowest price!  Here is an example: I used to sell the Wilton Abby Cadabby Cake pan for $60 plus shipping. 

I just checked Terapeak and the average selling price of this pan is now $15.50.  Abby's popularity as a character hasn't diminished, she so well loved by Sesame Street fans.  So what happened? This pan was "outed" as a BOLO on several Facebook groups.  You may also find it discussed on YouTube videos.  At any rate, once outed, Abby was listed by lots of sellers, each pricing it just a little bit lower then the last one.  Maybe some found it for .25 and thought that pricing it at $10 was good enough.  Not only did these sellers leave money on the table, but they made the price of this once HOT items now pretty much a dud. Same with almost all Wilton cake pans.  It used to be one of my top 5 selling categories; now I rarely buy them when I see them. 

The moral of my story? I'm going to get back to posting helpful online selling tips but you're probably not going to find many BOLOs on this blog.  

I know that many people like to brag or be helpful, but keep in mind that whenever you post a product that is a good seller, it probably won't be once you find it again.  End the BOLO brag and keep selling those hot products yourself. Let people go back to doing their own research:). 

Happy Selling!

Jackie

If you have this Hallmark Ornament, National Lampoon's Christmas Vacation, Eddie's RV -- you might consider listing it. Prices are really high!  This series seems to quickly increase in value.

Merry Christmas!
Jackie

The Slow Selling Season & Hot Buying Season

I don't know about you, but things are fairly slow for me this time of year in the selling department, but it's the hot season to buy. Yard sale season is in full swing here in Pennsylvania, and there are a lot of great finds out there! Remember, if you have an eBay store, things sell at all times so don't hold your seasonal merchandise, get it listed.  In the past few months I've sold Halloween, Christmas, winter and summer items.

Right now, if you don't have a lot to ship, it is a great time to look at your older listings that just aren't moving.  A while ago eBay increased the title characters so you have a lot more room for keywords. As I've mentioned before, your title is very important and it's the best way for buyers to find your listing. Use as many characters as you can!  Consider taking some time this week to review your listings and make some title changes for the older ones.  While you're at it, make sure your return policy has been updated too.

On to shopping (my favorite subject), I was at a thrift store today and they were having 50% off linens. I love linens but don't sell older or antique linens since the market dropped on them several years ago. So why was I excited by the sale?  I love to find used or new character bed sheets, especially vintage!  Did you know that crafters use them? They are also used by custom clothing creators.  Not every character sells, and honestly like everything else on eBay, there is no rhyme or reason why some sell and other's don't.  A few weeks ago my friend Wendy from wwbrosky found this vintage Huckleberry Hound sheet for $75!

Other characters to look for include The Smurfs, Peanuts Gang, Star Wars, Super Mario, Gizmo/Gremlins, Sailor Moon, some sports teams, KISS, DC Comics and lots more! When you're shopping, check out the linens too!

Happy Selling,
Jackie

A Whole Lot of Panic Going On! Plus VHS Tapes

I am a member of several eBay related selling groups and I am hearing a lot of panic from sellers that just received their 1099 from Paypal.

Normally I wouldn't write a blog post about the same thing twice in a row, but I decided that sellers really need to take action so the same thing doesn't happen this time next year.

If you didn't keep good records last year, don't make the same mistake this year. Visit Easy Auctions Tracker and purchase a spreadsheet so you can track your sales, profits, inventory and more.   Truly it will save you hours of time and reduce your stress level.  I don't know of anyone that likes to file their taxes, so the easier you can make it for yourself the better.  Easy Auction Tracker pulls in all of your eBay sales information including the shipping amount that you charged, the actual cost of shipping, the buyers information, date of purchase, date shipped, and so much more.  You can keep track of your inventory, your mileage, and track any sales that you took on consignment. You only need to input the cost that you paid for your items. Do it now!

On to selling, lately I've been buying blank *sealed* VHS tapes if I can get them pretty cheap.  I sell them in lots of 7 or 8 for $25 to $30 depending on the brand.  The prices will likely rise as they become harder to find. 

In addition, if you research VHS in completed sales, you'll find that Horror movies do pretty good! I have a friend that specializes in VHS horror movies, and he'll buy them for .25 each and puts a lot of 4 to 8 together (depending on subject) and sell them for $20 to $40 a lot. 

If you can find the more rare horror videos made by Unicorn Video or Big Box Video you can get $40 to $50 per tape if they are in the original clamshell case.  Right now not much is showing in completed items, but around Halloween they are hot little sellers.  Take a minute to browse the VHS section at thrift stores and yard sales and flea markets.

Happy Selling (and record keeping),

Jackie

Last Minute End Of Year Tips

I hope everyone is having a wonderful holiday season! Sales were great this year for me on both eBay and Amazon.  As the new year approaches, there are a few things that I would recommend doing now:

• As many people ordered gifts online, email family and friends and ask them for their boxes and packing materials. Post on Facebook asking friends to save them for you. It works and it's wonderful to get  free packing pillows and bubble wrap!

• Get your receipts and expenses in order now so you don't have to panic in April.  Remember, you will be required to report eBay income of $20,000 or more or if you've had 200 or more transactions. Even if you didn't hit that mark, you should still track your income and expenses. You DO need to know how much you make and how much it costs you to sell on eBay!

• I would highly recommend purchasing Easy Auction Tracker for 2012. This year the spreadsheet is able to import all of your sales information including the actual shipping charged. The only thing that you have to input is your cost for each item sold (that is how much you paid for the item).  They have other new features too and believe me, this spreadsheet is well worth the money!  As I mentioned before, I've used a lot of other spreadsheets (I've been selling for over 11 years and I've always tried to keep track of the income that I've made) and there is nothing that compares to Easy Auction Tracker in my opinion.  Plus, the owners are super helpful and give 5 star service!

One last thing, it's time to set some goals for 2012.  One of my goals is to write an informative blog post twice a month. If you have anything you'd like me to feature, please leave a comment below. 

I hope everyone has a happy and prosperous new year! Thank you for reading my blog and I look forward to selling and blogging more in 2012!

Happy Selling,

Jackie