pascal1234
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hi,
Recently I visited a auction website from my home country and found out that one article is sold for much higher than the normal "market price". So I decided to take advantage of it, bought some stock and sold it. The product is like a commodity...
I was testing it this week. Made sales for USD 924 and profit of 183.45 - 20% margin.
It looks quite good - one could scale it up etc. - there are some legal stuff to consider, but for now it would work fine...
So basically I made a profit this week - nice. But having evaluated the numbers, I see clearly that, while the buyers are willingly to pay a premium, the fees are eating up the profit and the actual profit was generated by one auction that went really well
It doe snot look good... I am thinking now about 4 solutions:
PS: selling through an own website is not an option
Recently I visited a auction website from my home country and found out that one article is sold for much higher than the normal "market price". So I decided to take advantage of it, bought some stock and sold it. The product is like a commodity...
I was testing it this week. Made sales for USD 924 and profit of 183.45 - 20% margin.
It looks quite good - one could scale it up etc. - there are some legal stuff to consider, but for now it would work fine...
So basically I made a profit this week - nice. But having evaluated the numbers, I see clearly that, while the buyers are willingly to pay a premium, the fees are eating up the profit and the actual profit was generated by one auction that went really well
It doe snot look good... I am thinking now about 4 solutions:
- Make "bundles" and achieve higher value auctions as the % of fees for the end price is decreasing with volume - for example I pay around 6.5% till USD 100 and then 4.5 up to 3%
- Find other ways to sell it - different platforms - I did a test on ebay and was really bad and I made a loss of USD 20 :-(
- See it as business development and to find new clients
- Forget the whole thing and move on...
PS: selling through an own website is not an option
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