Monday, 21 February 2011 01:21
We continue BBC Resell Kids Clothes 101 course, taught by our resident Resell Queen Shannon, Top Rated E-Bay seller. In her Insider Tips and Tricks for Selling Kids Stuff on E-Bay she taught you how to plan strategically, how to shop for clothes and hunt down the bargains, how to sort your kids’ outgrown clothes and prepare them for sale, how to time your listings and how to create killer descriptions. In this post she will talk about pricing, listing, payments, shipping etc. To get into the resell groove, read her previous post to get you started.
- Honesty is the Best Policy - always include every detail about your items, if they have stains, rips, etc. note that in your listing and take great pictures that are rotated correctly: take pictures of the front and back of the bottoms. If a shirt/jacket/etc. has a really cute detail (embroidery, studs, appliqué, original stitching or buttons) take a close-up shot so your buyers can see it. The 1st picture on eBay is free. After that they charge .15 each. I suggest posting at least two images and make sure they are Great! *watch for eBay deals on listings and take advantage when they are having a special.
- Eliminate the Stress - if you have a lot to list, break up the tasks into chunks! Set aside a specific time to just take pictures. Some buyers will request measurements of clothing; you can do this on per request basis to save yourself time now. Download and crop your images so they focus just on the item you are selling! List your items later when quiet time is available. I like to do mine during nap or after bed time, I make myself a cup of tea, put on the Itunes and get into the groove of selling!
- Shipping Tools - eBay has an excellent resource called the Shipping Calculator, so when in doubt, use it! Priority Mail envelopes are free at your local post office or if you come across a great deal on plain white poly-bags (small & large) buy them to use for the 1st class and parcel post. Another great option is the flat rate priority mail boxes, available at the post office. These are especially good for the heavier items (ex. I can stuff a medium flat rate box full of my son’s clothing for a flat $10.50. Most buyers prefer to receive their items quickly vs. waiting up to 10 days for parcel post. When charging for shipping - add $1 to the cost for your listing fees so now the buyer has actually paid for your item, paid for shipping and paid you to list it! *Note: when eBay has a seller special, they usually charge .25 for auction-style, Buy It Now fixed price listings can go as low as .10; you will be actually making even more money with your slightly padded shipping charges.
- Hand Me Downs VS Hand Ups - I make two attempts to sell all of my four kids’ stuff on eBay first, after that if it hasn’t sold then I will gladly pass it down to a friend, relative or our local resale shop that I know could really use a Hand Up. I learned the hard way that Hand Me Downs, although kind, are not always a smart option when I myself am raising four kids - (ex. I used to give a friend all of my older kids outgrown items & after she was done with them she would sell them at her garage sale or, the real horror on eBay! Not only did she benefit from not having to buy the items in the 1st place, she was making a profit off of my good intentions).
- Retail Vs. Wholesale Vs. eBay - if you know the retail cost of your items, state it in your listing (retails for $18, even if you paid $9 for it!) This will instantly boost the value of your items in the buyers’ eyes and could possibly end up getting you back the $9 you paid for it (after your kid has worn it no less).
eBay selling is easy, anyone can do it! If you can take the time to pull out card tables, price sticker stuff, deal with people who want to pay you $1 instead of $2, then you can sell on eBay. And you can do it in the comfort of your own home (in your pajamas)!
Pricing Your Resell Items and Getting Paid on eBay
- Pricing - try to start your listings at “garage sale” prices, generally $2-3 per item unless it is designer/high-end and warrants an increase. Also keeping in mind the condition the items are in - if they are in “play” or have excessive wear you will need to start them off even lower and again, make sure you specify this in your listing.
- What’s it worth? The easiest and fastest way to find out how much anything you want to sell on eBay is worth is by following these simple steps below. There will be times when you won’t be able to find your item or something similar that has sold. So, if that happens use the general pricing tips and hope for the best!
- Go to ebay.com & click on Advanced which is in blue lettering right next to the green Search bar.
Enter keywords for your item, using brand name and item description item (ex. Gap boys’ denim jeans) then select which Category applies (clothing).
Now, check the box for Completed Listings and hit Search. This will pull up all of the Gap boys’ denim jeans that have recently sold (or haven't sold) on eBay and the prices they sold at. Do Not start your listings at the sold prices, this will scare bidders away since they want the thrill of the win and the anticipation of getting the item for less than the going rate. Some sellers like to start their listings at .99. I myself have not had much success with this, but you can find out what works best for you by testing it out. Listing at a lower start price is less expensive fee-wise, but keep in mind you might end up selling that $15 item for .99... It’s a risk.
- Getting Paid - the first thing to do once you have established your account on eBay is to open an account with PayPal AND request the free debit card they offer. It takes approximately 2-3 weeks to receive it, so do it right away. Never, ever accept E-Checks and state this in your listings!!!! E-checks are non-secured funds and can be easily reversed, meaning the buyer paid, you shipped and then their bank reverses the funds paid to you, most likely due to the fraud or insufficient funds on their checking accounts.
Money orders and cashier’s checks take several days to receive, and though these are secured forms of payments, I highly recommend that you only accept PayPal. It’s fast, easy and your funds are guaranteed. PayPal also has many options available on how to access your new found funds: transfer to your checking account, savings account or once you have received your PayPal debit card, take it straight to any ATM and have instant access to your money. Keep in mind that all ATMs charge an approximate $3 fee for cash withdrawal. PayPal payments are also becoming widely accepted at many online stores and your PayPal debit card also works just like a regular bank’s debit card so it can be used virtually anywhere as long as the funds are available.
Here at our house, everyone contributes: the teens have garbage duty and other miscellaneous chores; the 3yr old feeds the dog; the husband goes to work etc. As a stay-at-home mom it’s important to me that I contribute as well (past the million things a mom does in a day!), which was also the basis for why I started selling on eBay in addition to getting tired of other people making a profit off of me.
Once things really got rolling I began dividing up my profits by three and dispersing them as such: (1) into our household checking account to help offset the costs of raising four kids (2) into our savings account (3) for reinvestment - remember when I suggested buying two super expensive winter coats on clearance? This is where that money comes from! eBay selling can be taken to many levels, there are sellers that have reached over a million dollars in sales, I’m not one of them…..yet!
Shannon will continue to enlighten us on various aspects of reselling our kids’ outgrown stuff in BBC Closet Economics series. Please, feel free to post your questions in the comments. What would you like her to elaborate on?