Patience is Key when selling online
Posted by power4 in bulk wholesale liquidation on April 20, 2009
Wholesale Items For Sale Here
Many sellers list their items for one week and if it doesnt sell, they do not try to relist it. You should treat your online business the same as your off line business. Products in stores do not all sell in one day!
That very reason is why many fail in the liquidation business. They try to move the products too fast. I have had items listed that get re listed 3 or 4 times. But they eventually get a sale. There is a buyer for anything and everything. You just have to be the one presenting that item.
For instance. I had a suitcase pallet a few months ago. I listed 4 units for 99Cents starting bid. They all closed and I barely made $80 on them. I paid i think $200 for the pallet.
It was the lowest priced pallet macys had in that category and I chose it as a test pallet for myself. Most of them were in mint condition but some had a problem with the handles. After tinkering with them I figured out how to fix all of those with bad handles. I then ran many of the suitcases with Higher prices. All buy it now. It took me 2 months but now most of them are sold. And Im sitting on about 700 Profit on that pallet. And I still have several suitcases I haven’t even listed yet. Just imagine if I bought 5 pallets and had a ton of them listed. I sat on the products longer and turned a pallet that might have barely broke even into a high profit pallet. Just by being patient.
Other people only sell what they personally think will sell high. And they curb the rest or even throw it away. This is something that just cant happen. Your basically putting profit in a corner to rot and taking a loss when you should list and sell it.
I have watched successful sellers even selling something remote as a onion peeler. Yeah its a small item but even if you sell it for $4.00 thats $4.00 more in your pocket. You have 30 items like that on a pallet selling for the same price and you have $120 in profit on that pallet that some toss in a corner and don’t sell.
So yes patience always pays off. If your in a hurry then you will loose potential profits you could have made. Just because your item did not sell that week does not mean it wont sell on another. It just means that buyer wasnt looking for your item at the time you started the listing.
I* have normally 3,000 items up but only sell 200-300 items a week on avg ..keep most in my ebay store and still turn good profit only selling 5-10% each week of what i have listed …you can have 2500 items in your store and it is only $75 a month for the listings .I have stuff sometimes sit for months before selling , it just depends on how much money you have to work with.*

