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JCRJM

Experimental flipping goods. Worth it??

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Hi so just wanted to share my attempt at buying something and trying to flip it for profit. 

So this was my first attempt and it started well but ended in a loss sadly.

The product I tried was Frylight garlic oil. This was because through scanning some items I seen that I could buy frylight for £1.50 and it was selling for £5 on ebay. Thought this could be a good product to use continuously. 

Within 2 days the product actually sold and here is a breakdown:

Sold for: £5.00

pruchase price: £1.50

paypal fee: £0.37

ebay fee: £0.50

delivery fee: £2.90 for 2nd class

in total making a loss of: -£0.27

luckily i bought 2 and manage to sell one to my mum for £2 which is not sustainable 😂 so that meant i just turned profit. 

(I would not sell to my mum on a regular i am not a scumbag, this was a one off and i joked and she gave me the money.- just incase you thought that.)

so yeh have you guys got any experience trying this sort of thing as I don’t think i will continue as you need to add up all the costs beforehand to even attempt to break even. 

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I do this on several sterling silver stuff I buy from auctions or scrap dealers. I average buying prices of £0.65 per gram and sell for around £1-1.20 

Helps me turn sterling silver into Britannias :)

Sometimes you get really lucky - I bought some silver ingot charms around 6-8 grams and then sold them for £1.50 a gram. 

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25 minutes ago, austack said:

I know people who do 'drop shipping' can make a profit if you have Amazon Prime and get deals etc...

I did think about drop shipping and the idea seems like it could work well. I have seen a lot of ads for people doing it which made me think it would be quite saturated.

always worth a go :) 

45 minutes ago, shawy2510 said:

I always work out - Ebay fees before buying anything if I know I am going to flip so that I know I am making something even if it is only small. Another thing is to always charge postage on top.

In future i will 100% do this. I just didnt realise the shipping would have been so dear for 2nd class small package :/

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I used to make good money buying football programmes in bulk and selling the good ones individually on eBay. Then I would sell the worthless ones in bulk.

Best individual profit was about £80 for a programme that cost 10p but I would regularly double my money from the bulk buys.

The time and effort it took meant I sacked it off in the end.

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51 minutes ago, MrGeorge said:

Good money in selling trainers nowadays have a mate who makes a pretty good living doing it. Trainers like adidas yeezy retail for under 200 and sell from 400-1000 

I dont know a lot about shoes but I have tried to buy and sell yeezys a few times and everytime i have sat and i think the bots have won all the shoes before i refresh the page :/ 

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Seems the only way with your numbers to turn a profit is to make the listing for multiple pieces. Delivery fee is the killer as that is more than half of what could be profit, but if you sell in a lot of two then you are in the black by a few squiggly L's. Get someone to buy 10 in one go and you are laughing.

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3 hours ago, MrGeorge said:

Good money in selling trainers nowadays have a mate who makes a pretty good living doing it. Trainers like adidas yeezy retail for under 200 and sell from 400-1000 

Who buys these?! That’s like upto a gold ounce! 😂

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55 minutes ago, Elements said:

Who buys these?! That’s like upto a gold ounce! 😂

There really easy to sell just depends some are more limited than others, i have the original yezzy belugas payed £1000 for them but they only retail for £180 some trainers like the eminem jordans go for around $30,000 its nuts some of the prices. My mate camps outside shops for certain trainers and then flips them that day to people who couldn’t cop a pair

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About 10 years ago now I made insane money on Ebay selling mobile phones, Nokia N95's mainly.  I would buy 2x faulty N95s, one with a broken screen and one with any other fault but a decent screen.  I would make one fully working phone out of the two and sell it back on Ebay usually making a profit of £80. If I could get a phone that looked in really good condition I would also buy the box and accessories off Ebay for £5 just to make it look the part, this could add anything from another £20 - £60 on the price.  After a while I had enough spare phones to fix just about any problem.  On my worst week I sold 2 and on my best week 18 but usally 8-10 a week was normal.  Then phones went all sleek and complicated and I had to chuck it which made some difference to my disposable income.

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I think the word used to describe people who buy and sell stuff is, which is... TRADER.

Like it or not that's what you are.

Just like any venture, there is a skill to it. You have traders who are successful and manage to turn a profit, and many who are not successful and don't make any money from it.

Edited by vand

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2 hours ago, MrGeorge said:

This is the next sneaker release you want to get https://sneakernews.com/2018/02/19/sean-wotherspoon-nike-air-max-97-1-release-info/

 

they are selling the now on resale for around $1000 so if your lucky enough to get a pair next month on release its easy money 

Ill keep an eye out for these then and give it a try

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How are people already selling these? the release date is late March so not sure how unless they are out early in the US?

Edit: Not sure these will be good to flip, they are selling at retail on eBay sold listings...

Edited by austack

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36 minutes ago, austack said:

How are people already selling these? the release date is late March so not sure how unless they are out early in the US?

Edit: Not sure these will be good to flip, they are selling at retail on eBay sold listings...

The release late march is the 2nd release and do you have a link to ones sold on ebay ? I dont use ebay but there still selling for $1000 on flightclub and goat so dont think it can be the correct ones your seeing on ebay.

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