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Free registration at the forum removes this block.I'm sorry, I don't understand the question?
Sue
Let's say I sell 3 items. One sells for $5, the second for $6, and the last one for $20. I underestimate how much it will cost to ship the item that sold for $5, and end up paying out of pocket $8 to ship it. Because of this, I've lost money on the $5 item. However, I do everthing "right" on the $6 item and $20 item, so that means after expenses I earn about $22. This is what I meant earlier about overall profit vs. loss on specific items. Sorry, for not being more clear.
So what are you asking? You lost money on item 1, made money on item 2 and 3. So?
My worry isn't about what I'm currently selling. I knew going in that I would probably lose money because of my inexperience. I've honestly just been excited to see my stuff sell even when it's only been for a dollar or two. What's making me nervous is the thought of losing money on things I plan on buying with the intent to sell. I haven't bought anything yet, but I plan on starting soon.Leono,
Hi...here is my 2 cents....no pun intended...LOL
Ok, at this point, don't sweat losing $3....you are selling stuff from around your house...so that money (ie, your investment in the cost of goods sold) has been spent along time ago, when you first acquired whatever it was.....so at this point unless you are losing money on shipping.....your profit on this stuff is approx 100%.
Now...to avoid a repeat of that...consider getting a digital scale....lots of them around, just get one that has a decent size plate and can handle weights that your items are going to be. Next, look into the USPS's shipping programs...lots of stuff avail for flat rates or rates that you can easily calculate with the above said scale....this way you will always know...usually to within a few cents how much shipping would be from your dwelling of used stuff emporium to the clammoring masses just willing to snatch it from your willing hands.
..at this point, just get used to the process..and be glad that there is some one out there who is willing to buy your cast off stuff.
Moving forward...at some point you will have sold all the stuff you can that you currently have and will be down to wall studs, some wires and a few pipes ...that is when you need to understand that really your profit is made when you buy the stuff whatever it is...you should understand what market you are in and what the buyers of that market are looking for as well as who and what the competition are doing...this way you will know before you send that USD$30,000 to Ningbo Heavy Manufacturing Facility No. 237 to hope that you will see your widgets in about 8 weeks that if you are buying your product for $X and you can sell for $Y...that the difference will be your profit per item after all expenses are figured in.
Its really pretty simple when you look at it in its simplest form.....
Profit per item = Price of item sold - (Cost of goods + related expenses[duty, advertising, shipping, overhead, etc.])
Hope that helps.
2. You don't have to follow through on a transaction. If you "loose" or "damage" the item that's just auctioned off at a loss you can cancel the transaction (Its like having a free hidden reserve). Not sure if there are any penalties for "loosing" too many items.
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