Question
OK, the dollar amount is low but who says that bidding wars are a thing of the past.
I purchased some Irish theme lapel pins at liquidation for about 5 cents each. (I usually get them from my wholesale supplier at about $1.00 each in small quantities.)
With some increased interest in Irish stuff because of St. Patrick's Day fast approaching I listed them as auctions starting at .01.
Hoped it would create Store traffic.
Now I have a bidding war and the first one, which will close tonight, has reached $1.75.
At this rate I will cover listing, gallery, FVF and PayPal costs and maybe even make a buck.
That's good because I see no significent increase in Store traffic with this and other .01 auctions listed.
eBay/PayPal will make over $1.00 regardless of what happens, I might make a dollar if the bidding continues and now all that is left is for me to figure out how to do this 999,999 more times before year's end.
Buy stuff at 1/20 of the wholesale price, sell a million units and get rich.
This eBay stuff is easy.
If I cut back sleeping to four hours a night and process 137 transactions per remaining hours, on average, I can do this.
Answer
If I cut back sleeping to four hours a night and process 137 transactions per remaining hours, on average, I can do this.
Sounds like a plan!....Get to work!...You have 137 transactions to process before you can sleep again!
Answer
Buy stuff at 1/20 of the wholesale price, sell a million units and get rich.
Or you could just sell that same "secret" on late night TV for $39.99
Answer
Sounds like you should wholesale the bunch out at 2 cents each to the next fish.