uchiha101

there's more cost than just buying a book for X and selling for Y

 

theres also cost of shipping, shipping supplies, fees, time etc.

 

Are these numbers even factored into the numbers above?

 

Yes all fees and everything are calculated into the equation except time.

Inventory Update

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

Loss $624.39

Not yet sold: 27

Comics Lost on: 28

 

 

 

 

Big Comics VS Little Comics Comparison

 

 

Little Books

Bought $2455.12+247.01+699.53=$3401.68

Sold $4007.43+1679.24=$5686.67

Losses $1079.43+637.19= $1716.62

Profit $568.37

 

Big Books

Bought $5329.03

Sold $2340

Losses $2989.03

 

 

The above numbers make no sense.

 

You bought $3,401.68 in "little" books and $5,329.03 in "big" books and you currently have $1,448 in inventory? That's $10,178.71. Where did your "total comics bought" number of $11,048.55 come from?

 

Furthermore, if these numbers are correct....

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

 

You have a profit of $823.61, not a loss. You spent $11,048.55 on books, you still have $1,448 of inventory, you sold $10,424.16 of them.

 

Sales ($10,424.16) - COGS ($11,048.55 - $1,448) = $823.61

 

 

You total loss of ~$600 in the first section also doesn't come close to matching up with your profits and losses in the big and little books section.

 

If this is how you are calculating your progress after 2 years, it's time to throw in the towel. No offense.

The inventory update and little books vs big books are meant two be looked at as two separate things because I've been asked to calculate to separate things

Would it be too much to ask to see a total $ amount spent (including unsold inventory) and a total $ amount sold?

 

It does not have to be complicated.

 

Some may not agree but technically would unsold comics still count as a negative for basic accounting purposes?

 

Shouldn't be too hard either way, three simple numbers

 

Cost of goods sold

Revenue

Inventory

 

Are the numbers you're looking for

 

I wouldn't want to see the accurate numbers either after losing money after 2 years of effort.

 

I have no idea why I thought it was 3 years and not 2.

Probably it seems like I've been doing this for a long time.

Would it be too much to ask to see a total $ amount spent (including unsold inventory) and a total $ amount sold?

 

It does not have to be complicated.

 

Some may not agree but technically would unsold comics still count as a negative for basic accounting purposes?

 

Shouldn't be too hard either way, three simple numbers

 

Cost of goods sold

Revenue

Inventory

 

Are the numbers you're looking for

 

I wouldn't want to see the accurate numbers either after losing money after 2 years of effort.

Either way I'll have to see it

Maybe he should get his sister to do his books for him too, she does a decent job helping him with the videos

 

Serious suggestion BTW.

No I would have to ask my dad or brother they're math wiz's

Would it be too much to ask to see a total $ amount spent (including unsold inventory) and a total $ amount sold?

 

It does not have to be complicated.

 

Some may not agree but technically would unsold comics still count as a negative for basic accounting purposes?

 

Shouldn't be too hard either way, three simple numbers

 

Cost of goods sold

Revenue

Inventory

 

Are the numbers you're looking for

Thanks

I calculate things like this

 

How much I bought - How much I sold = Profit

 

I just include losses for myself to see how well I'm doing and yes every fee is already calculated into this.

 

Where in the hell did you learn that Expenses - Revenue = Profit???

 

It's the other way around!!. Otherwise if your expense is $100 and your revenue is $150, then your profit will be a NEGATIVE number (i.e. a loss).

 

Come one man, this is BASIC BASIC accounting! Stop everything and start LEARNING.

 

 

 

And like I posted a page or so ago.....

 

Why the heck do you use a different tallying system for "Little books" compared to your "Big books"???

 

What's with all the extra additional numbers in the Little Books rows?

 

Little Books

Bought $2455.12+247.01+699.53=$3401.68

Sold $4007.43+1679.24=$5686.67

Losses $1079.43+637.19= $1716.62

Profit $568.37

 

Big Books

Bought $5329.03

Sold $2340

Losses $2989.03

 

Where do all those extra numbers come from???

I don't have my business books on me anymore but I was always taught this

Amount paid - Amount sold = Profit

If that's not how it goes then I can fix that so basically I do the opposite of what I've been doing? Those numbers aren't extra at all it was calculated the max number my calculator count count at that time so I wrote do each one then added them.

Would it be too much to ask to see a total $ amount spent (including unsold inventory) and a total $ amount sold?

 

It does not have to be complicated.

 

Some may not agree but technically would unsold comics still count as a negative for basic accounting purposes?

Yeah I can do that I add all the other things you see just as a mental note to myself and track my progress, I count the inventory into the amount I buy and if it comes out a loss after I calculate everything so be it. That's at least how I view it.

I wanted to be a professional basketball player when I was in grade school but after 4 years of being only ok in high school I decided it was not going to work out. At that point I made a decision to go another route. It's ok to change course after receiving additional information.

 

The last 2-3 years have provided the OP with plenty of additional information. This thread has also supplied him with additional information. The only course change he appears to have made is moving into flipping games for losses.

That's not true and about those games I have them so it's not a loss, the reason why I say this about video games is I'm more confident about my ability to get what I want with them compared to comics but I'll get around to having the same balance with comics.

I wanted to be a professional basketball player when I was in grade school but after 4 years of being only ok in high school I decided it was not going to work out. At that point I made a decision to go another route. It's ok to change course after receiving additional information.

I agree and I'm still working on what I want to be.

What makes you feel like you deserve a job that you love and pays well?

 

Why do you deserve it more than the person working full time and going to school full time? Or the person working 2 jobs to take care of his family?

 

Why do you deserve it more than the soldier fighting for his country?

 

Why do you deserve it more than the soccer player born with innate skills and crazy work ethic?

 

Why do you deserve it more than the PHD student who has done 15 years of schooling AFTER high school including research that might actually HELP someone someday?

 

Why do you deserve it more than every other person who finished college? or trade school? Or served in the military? OR doesn't have emotional issues?

 

Do you deserve it more than every single person with more business experience, sense, education, or experience than you?

 

Do you even deserve it more than the son who's dad buys him a comic book store? Why or why not?

 

 

Why on earth would you be entitled to a job you enjoy AND pays well? What if you had a passion for something but it didn't pay well? Or what if you had a valuable talent, but you didn't enjoy it?

 

You can find joy, honor (more than you'll ever have), and respect in ANY honest job, done diligently and with pride.

 

And if you want to find something you enjoy but pays well, why the eff are you even remotely interested in comics? How many full time comic dealers on the planet do you think pull down six figures? And how many are in Canada? Do you have any idea? You probably have a better shot at joining the CFL or being a rodeo clown.

 

 

You are currently a million miles away from even THINKING about a job that pays well that you enjoy. You can work towards one, but your level of entitlement (especially when coupled with your political views) is absurdly disheartening and frustrating. You're not operating in a reality that actually exists. You're operating in an addicts spiral, exacerbated by mental, emotional, and learning issues, mixed with healthy doses of questionable (at best) entitlement world views.

 

I never said I should get one immediately and without any effort but everyone deserves something career wise that makes them happy. I'm not responsible and shouldn't be responsible for the actions of others like all those examples you mentioned, I never forced their choices upon them. I'm interested in comics because I can make money with them and I read some of them as well. Again you're saying it like I want a amazing job now and that's not right it's something to work towards. I don't talk politics on here for more then one reason.

 

WRONG WRONG WRONG WRONG!

 

 

 

You deserve what you earn in life.

 

Anything else are gifts, gravy and icing on the cake.

 

 

 

Why do you keep thinking I'm talking about the present?

 

Past, present, or future, the statement "everyone deserves something career-wise that makes them happy" is never true. Believing it is true is why many people here have said you have an entitled attitude.

 

You don't deserve a career that makes you happy simply by existing no matter how old you are. People who have careers that make them happy have earned their position in life through hard work and patience.

 

This is what jcjames is trying to convey to you.

 

Finally, it seems there are some here that are here simply to poke fun at or just flat out insult Gabe. If it's not constructive or at least funny (Gabe seems to have thick skin and a decent sense of humor), maybe try not to post here. And leave the election talk at the door lest this thread get scrubbed.

Thanks for explaining that I always wondered why no matter what I said James would say I was entitled, having a sense of humor is needed in this world you can't be serious all the time or people won't want to be around you.

I do like comics and enjoy reading some of them but I'm doing this to make money.

 

Funny thing about a job is that you rarely have to worry about it losing you money.

Yes but this isn't my job and all investments come with a risk my just happened to be one of the worst ones.

Inventory Update

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

Loss $624.39

Not yet sold: 27

Comics Lost on: 28

 

 

 

 

Big Comics VS Little Comics Comparison

 

 

Little Books

Bought $2455.12+247.01+699.53=$3401.68

Sold $4007.43+1679.24=$5686.67

Losses $1079.43+637.19= $1716.62

Profit $568.37

 

Big Books

Bought $5329.03

Sold $2340

Losses $2989.03

 

 

Dear God - your basic book keeping skills are heart breaking. Please explain your math on the little books section. $3,401.68 bought and $5,686.67 sold but you had $1,716.62 in loss but $568.37 in profits???

 

This is what really matters:

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

 

If your numbers are correct then it looks like you will be up $823.61 when you sell the rest of your inventory. This is assuming your sold number has subtracted fees and all cost to sell the books.

 

I'm assuming the inventory number is what he paid for it...who knows what it'll actually sell for.

 

I think most reasonable people would come to the conclusion that after 3 years and being in the red, that it might not be the best business for them.

 

 

 

But even if he gets half he will still be up compared the loss he keeps talking about. But I do agree being up a couple hundred dollars after 3 years and $11,000 in sold books is so low I'd have not thought possible.

 

Don't mix the big and little books and my inventory I just did that because someone asked for it. Go by the inventory list that's what you should focus on. [/quot

 

Are you actually telling others what THEY should focus on? That's like Stevie Wonder offering to give driving lessons.

 

Yes I am because people are adding the losses of both of my updates when that's all been calculated already and that's my inventory update

 

Taking all that into account .. you're still in the shitter .. 3 years and you haven't made a profit.

 

It doesn't matter that you think you're moving forward and you'll make the occasional mistake in the future .. the crux of it is: You're not making any profit.

 

You're right I haven't made a profit yet

 

If my math is correct, you have spent $11,000 to make $824 profit. Now, why does this sound good?

 

I, also, sell comics to help my family and afford my comics, but it is done with a better formula. Did you see the sale I had where I spent $300 and made $1,500 in two days? (If I had more liquid money I could it more and on a larger scale). If you are going to sell comics for a profit them maybe you should change your how you do it? My formula is that I need to at least sell it for three times what I for it.

 

It may not be the best result to get after two years of doing this and I made many mistakes but doing this I was hoping to at least get 30% by the time everything was said and done. I haven't checked out you're sales thread but now I'm curious.

Wait, nobody else picked up on the fact that by his own accounting he has $1,448 in inventory that he expects to sell for between $500-750?

 

I'm still trying to figure out why he's using a different accounting for his little books than he is for his big books.

 

Little Books

Bought $2455.12+247.01+699.53=$3401.68

Sold $4007.43+1679.24=$5686.67

Losses $1079.43+637.19= $1716.62

Profit $568.37

 

Big Books

Bought $5329.03

Sold $2340

Losses $2989.03

 

What are all the colored figures in the Little Books section for?

 

 

Nevermind.

 

 

I'm not sure why the others are colored but the red is for losses and the green is profit

 

Wait, what? If the red is for a loss, how can you add it to two positive numbers to get a total number that's the sum of the absolute values of the three?

 

And if the red is for losses, what's the line 'losses'?

 

Seriously, I have no faith that you even know what your current situation is.

 

Please do an introductory book keeping course, or at the very least buy 'book keeping for dummies'. And if you really don't want to invest any money there's always this.

 

If you are ever successful at this, you'll have to pay taxes and might get audited. In that case you need books that can be scrutinised - which means they have to be understandable by people other than yourself.

Sorry I didn't pay attention to what the color coded numbers were and I'm not sure why it turned out that way but put simple this it what I used to calculate it

How much I spent - How much I sold it for - Losses = Profit made

emotions don't equal stupidity

 

No offense Gabe, but you have an issue with both.

Hmm I'm not the sharpest guy but I'm determined.

Inventory Update

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

Loss $624.39

 

Just joining in here so I don't know specifics but it seems you would have been better off dropping 11k into a Hulk 1 and flipping it.

I was told that or a AF15 but I wouldn't have made all the mistakes that I have.

holy

 

I go away for a little bit and things just go

 

 

I need the last hour of my life back

 

 

 

I might have missed it - but did anyone ask for Janet to pose in a bikini yet?

 

 

 

 

you missed the political science lessons...

 

Don't forget a lesson about history

 

Recent history shows you investing over 11k into comics over the last 3 years and showing a loss.

 

Not the history I was talking about

 

Only history that really matters for the purposes of this journal IMHO.

Yeah but he asked what he missed so I told him

Gabe,

 

From reading this thread it is clear that your "career guide or whatever you call them" that you put so glibly, isn't the problem.

 

YOU ARE.

 

If you actually have a professional counselor(s), I encourage you to let them read this thread and see what they think but I suspect that you don't listen to them either.

 

Fact is, you want to deal in comics because you think it is cool and fun and hip and not something you would have to ever actually break a sweat over.

 

 

Cool and hip? I do like comics and enjoy reading some of them but I'm doing this to make money.

 

You would have just as much luck throwing money into a wishing well at this point.

 

I wouldn't have learned anything then

 

And what have you learned over the last 3 years...when it comes to comics flipping. I've learned something, but I think it's not the same thing as you think it is.

Actually it's been two years since I started doing this but what did you want to say?

holy

 

I go away for a little bit and things just go

 

 

I need the last hour of my life back

 

 

 

I might have missed it - but did anyone ask for Janet to pose in a bikini yet?

 

 

 

 

you missed the political science lessons...

 

Don't forget a lesson about history

 

Recent history shows you investing over 11k into comics over the last 3 years and showing a loss.

Not the history I was talking about but I did check when I first started buying and selling comics was 2 years ago not 3 so that's not much of a plus side but it is better

Gabe,

 

From reading this thread it is clear that your "career guide or whatever you call them" that you put so glibly, isn't the problem.

 

YOU ARE.

 

If you actually have a professional counselor(s), I encourage you to let them read this thread and see what they think but I suspect that you don't listen to them either.

 

Fact is, you want to deal in comics because you think it is cool and fun and hip and not something you would have to ever actually break a sweat over.

 

 

Cool and hip? I do like comics and enjoy reading some of them but I'm doing this to make money.

 

You would have just as much luck throwing money into a wishing well at this point.

I wouldn't have learned anything then

What makes you feel like you deserve a job that you love and pays well?

 

Why do you deserve it more than the person working full time and going to school full time? Or the person working 2 jobs to take care of his family?

 

Why do you deserve it more than the soldier fighting for his country?

 

Why do you deserve it more than the soccer player born with innate skills and crazy work ethic?

 

Why do you deserve it more than the PHD student who has done 15 years of schooling AFTER high school including research that might actually HELP someone someday?

 

Why do you deserve it more than every other person who finished college? or trade school? Or served in the military? OR doesn't have emotional issues?

 

Do you deserve it more than every single person with more business experience, sense, education, or experience than you?

 

Do you even deserve it more than the son who's dad buys him a comic book store? Why or why not?

 

 

Why on earth would you be entitled to a job you enjoy AND pays well? What if you had a passion for something but it didn't pay well? Or what if you had a valuable talent, but you didn't enjoy it?

 

You can find joy, honor (more than you'll ever have), and respect in ANY honest job, done diligently and with pride.

 

And if you want to find something you enjoy but pays well, why the eff are you even remotely interested in comics? How many full time comic dealers on the planet do you think pull down six figures? And how many are in Canada? Do you have any idea? You probably have a better shot at joining the CFL or being a rodeo clown.

 

 

You are currently a million miles away from even THINKING about a job that pays well that you enjoy. You can work towards one, but your level of entitlement (especially when coupled with your political views) is absurdly disheartening and frustrating. You're not operating in a reality that actually exists. You're operating in an addicts spiral, exacerbated by mental, emotional, and learning issues, mixed with healthy doses of questionable (at best) entitlement world views.

 

I never said I should get one immediately and without any effort but everyone deserves something career wise that makes them happy. I'm not responsible and shouldn't be responsible for the actions of others like all those examples you mentioned, I never forced their choices upon them. I'm interested in comics because I can make money with them and I read some of them as well. Again you're saying it like I want a amazing job now and that's not right it's something to work towards. I don't talk politics on here for more then one reason.

 

No you can't, you're in the loss column after 3 years. You can say you can make money with them all you like, but up to now you have not.

 

Because I've never had my mistakes pointed out to me like this and I've got a budget to.

 

The only "mistake" you needed to pay attention to was the - in front of the $ sign. You don't need anyone else to point that out.

That's for my reference

holy

 

I go away for a little bit and things just go

 

 

I need the last hour of my life back

 

 

 

I might have missed it - but did anyone ask for Janet to pose in a bikini yet?

 

 

 

 

you missed the political science lessons...

Don't forget a lesson about history

Inventory Update

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

Loss $624.39

Not yet sold: 27

Comics Lost on: 28

 

Big Comics VS Little Comics Comparison

 

Little Books

Bought $2455.12+247.01+699.53=$3401.68

Sold $4007.43+1679.24=$5686.67

Losses $1079.43+637.19= $1716.62

Profit $568.37

 

Big Books

Bought $5329.03

Sold $2340

Losses $2989.03

 

 

Dear God - your basic book keeping skills are heart breaking. Please explain your math on the little books section. $3,401.68 bought and $5,686.67 sold but you had $1,716.62 in loss but $568.37 in profits???

 

This is what really matters:

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

 

If your numbers are correct then it looks like you will be up $823.61 when you sell the rest of your inventory. This is assuming your sold number has subtracted fees and all cost to sell the books.

 

I'm assuming the inventory number is what he paid for it...who knows what it'll actually sell for.

 

I think most reasonable people would come to the conclusion that after 3 years and being in the red, that it might not be the best business for them.

 

 

 

The inventory is not how much I paid for it that's already calculated in how much I bought everything for and everything is starting to finally move forward.

 

Any idea how much the rest of your books (inventory) will sell for based on previous sales?

 

About 500-750

 

Wait, nobody else picked up on the fact that by his own accounting he has $1,448 in inventory that he expects to sell for between $500-750?

 

Because the 500-750 is conservative and I haven't gone over my inventory completely I just update my buys, sales and losses

 

 

Jeezus...what kind of bookkeeping is that? Its so sad that that garbage actually makes sense to you.

 

eh - just like his rush to buy things - he is posting the accounting too quickly -

 

he is probably taking into account buy price - sell price - maybe even fees....

 

 

but he is most likely leaving out a lot of stuff -

 

 

First of all you're going to have to grease the local politicians for the sudden zoning problems that always come up. Then there's the kickbacks to the carpenters, and if you plan on using any cement in this building I'm sure the teamsters would like to have a little chat with ya, and that'll cost ya. Oh and don't forget a little something for the building inspectors. Then there's long term costs such as waste disposal. I don't know if you're familiar with who runs that business but I assure you it's not the boyscouts.

 

I calculate things like this

How much I bought - How much I sold = Profit

I just include losses for myself to see how well I'm doing and yes every fee is already calculated into this.

Inventory Update

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

Loss $624.39

Not yet sold: 27

Comics Lost on: 28

 

Big Comics VS Little Comics Comparison

 

Little Books

Bought $2455.12+247.01+699.53=$3401.68

Sold $4007.43+1679.24=$5686.67

Losses $1079.43+637.19= $1716.62

Profit $568.37

 

Big Books

Bought $5329.03

Sold $2340

Losses $2989.03

 

 

Dear God - your basic book keeping skills are heart breaking. Please explain your math on the little books section. $3,401.68 bought and $5,686.67 sold but you had $1,716.62 in loss but $568.37 in profits???

 

This is what really matters:

 

Total Comics Bought $11,048.55

Total Comics sold $10,424.16

Inventory $1448

 

If your numbers are correct then it looks like you will be up $823.61 when you sell the rest of your inventory. This is assuming your sold number has subtracted fees and all cost to sell the books.

 

I'm assuming the inventory number is what he paid for it...who knows what it'll actually sell for.

 

I think most reasonable people would come to the conclusion that after 3 years and being in the red, that it might not be the best business for them.

 

 

 

The inventory is not how much I paid for it that's already calculated in how much I bought everything for and everything is starting to finally move forward.

 

Any idea how much the rest of your books (inventory) will sell for based on previous sales?

 

About 500-750

 

Wait, nobody else picked up on the fact that by his own accounting he has $1,448 in inventory that he expects to sell for between $500-750?

 

Because the 500-750 is conservative and I haven't gone over my inventory completely I just update my buys, sales and losses

 

Jeezus...what kind of bookkeeping is that? Its so sad that that garbage actually makes sense to you.

It's my bookkeeping and it does make sense to me because I'm doing it and for those wondering why I don't really add up my inventory it's because I can make estimates but that's not what things sell for it most cases and it's already been calculated with all I've bought.

Getting a handle on your emotions and impulses is not suddenly going to upgrade your business acumen.

 

This is not going to change your inability to barely grasp anything but the simplest aspects of flipping

 

This is not going to change how it appears you need your hand held virtually every step of the way.

 

This is not going to change how you ignore most of the good advice given you.

 

And it's not going to change the fact that you're just plain bad at this.

 

 

 

It won't upgrade my business acumen but I think you're missing the point, the majority of my losses are from my emotions and once I get a handle on it I will be in the green or very close to it that I can promise you and since you like examples I'll give you some

 

I wouldn't have bought or overpaid for GSX 1 $355

JLA # 1 NG $210

Bat 4 $223

Betty and Veronica 320 $470

Infinity gauntlet's 9.8 x5 and 9.6 x2 $985.60

X-men 266 9.6 graded $337.50

ASM 129 CGC 8.0 $966

 

Total money saved $3324.10

 

So when you tell me my control of emotions won't help things I have to say I disagree

 

 

I'm missing the point? Seriously?

 

 

 

 

Just substitute the word "emotions" with "stupidity" and everything will make much more sense.

emotions don't equal stupidity