My road to success (Moving Update 2) 8 8

[uchiha101]

2 hours ago, chrisco37 said:

I always end up getting sucked back into this thread.  

As we've said for years, you need lower cost entry books that you can flip for quick profit.  That way, if you can't flip it, you're not in too deep.

Here's an example...a few months back, I did a small, local show.  I had some decent wall books, but mostly I had boxes of $2-10 books.  I had a bunch of Jim Lee Batmans.  I had them marked at $5/book and I sold a few of them.  Near the end of the show, after the crowds were gone, I went over to another table that was filled with dollar boxes.  Guess what I pulled out of them?  Yep, Jim Lee Batmans.  For a buck each, I replaced all the books I just sold and then some.  I also pulled out quite a few AH Catwoman books.  Those are easy $5-10 books in my boxes or on IG.  

Buy for $1, sell for $5.  Yep, it's more work than one big flip.  But I'm not out of pocket at all if I sell nothing.  Do a bunch of those and learn the game.  Make a few bucks along the way.  

 

I see, I only tried that a few times and failed but I understand what you're saying and catwoman comics are on the  list I have.

[uchiha101]

2 hours ago, thehumantorch said:

Call it a test, call it a turtle, call it a kumquat, call it whatever you want.  Doesn't matter, you're setting an absurdly high price hoping to find a buyer who will overpay.  What you call something doesn't matter, what you're actually doing does matter.  Once again, you're doing nothing illegal and we could argue about the morality of this practice all day.

 

Then why beat a dead horse? Also, why do you keep missing the points I make? I said that I was going to put it up high on ebay because I know there are lowballers, I didn't calculate fees and it's heating up. I also said that I'm willing to negotiate and if I get a good offer I'll take it and that's in addition to me paying attention to prices and changing them when it calls for it. 

[uchiha101]

2 hours ago, thehumantorch said:

I buy books all the time at or close to GPA.  Most of the time it's in person so I can see the book and avoid shipping and duty costs.  It's always a key book that I believe is going up over time and I'd better be right 95% of the time.  At our last show I sold a lot of $1 books, sets, mid and low value keys and bought Daredevil 1, ASM 129, Hulk 181, Avengers 57 and Batman 232.  I then sold the ASM 129 for a $100 profit and bought another.  It can work but it requires patience, laser focus on value, knowledge of the hobby and some money.

 

Yes and I'm not at that level or even close to it but I do see an obvious pattern now 

[uchiha101]

2 hours ago, Red84 said:

It's not fair market value.  We showed you that already when a lot with better books than yours didn't sell for $300 less than your asking price.

You can ask whatever you want, but you're delusional if you think $800 is fair market value.

 

You're either not keeping up or not paying attention to where I'm at right now. The $800 OBO is in the past and I said I would put it at FMV or a little above it thanks to speaking with two boardies.

[Red84]

Just now, uchiha101 said:

You're either not keeping up or not paying attention to where I'm at right now. The $800 OBO is in the past and I said I would put it at FMV or a little above it thanks to speaking with two boardies.

Then what is your asking price?

[uchiha101]

2 hours ago, Red84 said:

Then what is your asking price?

$325 shipped

[Red84]

Just now, uchiha101 said:

Just now, Red84 said:

Then what is your asking price?

$325 shipped

Good.  

[revat]

1 minute ago, Red84 said:

1 minute ago, uchiha101 said:

You're either not keeping up or not paying attention to where I'm at right now. The $800 OBO is in the past and I said I would put it at FMV or a little above it thanks to speaking with two boardies.

Then what is your asking price?

To me the point is not 'yay, I've learned something, I'll lower the price to something more reasonable'

the question is "Why were you at such a high price to begin with? Is your methodology for determining price flawed?  is your methodology for determining FMV flawed? Is your strategy to just try and catch the occasional uniformed sucker (actually a viable strategy if you don't need the money or really care about selling or the book is ultra rare, like ultra rare)?"

Its not all about these specific books, but establishing a methodology for determining achievable prices going forward.  Do you understand why your previous price was wrong?  Do you understand why your process to establish that price was wrong?  Do you truly understand how and why your new price is better (other than people told you it is)?

Do you understand why you have to factor in ebay and paypal fees (based expected gross revenue from sale) when you decide whether or not to make a purchase?  Do you understand why that wasn't a factor in your decision making before?

Aside from that, do you realize that busting out a phone or list IN PERSON while you're in the middle of negotiations to check prices often results in you paying a higher price? or being priced out all together?  The best deals have always happened for me when you can eyeball something fairly quickly and offer cash quickly.

 

I don't want or need the answers to these questions.  But you should consider them.  And honestly, you should already have asked yourself these questions.  If you really want to be good at this and focus on it, you have to really analyze your decisions, maybe write things down as you make decisions.

[uchiha101]

2 hours ago, revat said:

To me the point is not 'yay, I've learned something, I'll lower the price to something more reasonable'

the question is "Why were you at such a high price to begin with? Is your methodology for determining price flawed?  is your methodology for determining FMV flawed? Is your strategy to just try and catch the occasional uniformed sucker (actually a viable strategy if you don't need the money or really care about selling or the book is ultra rare, like ultra rare)?"

Its not all about these specific books, but establishing a methodology for determining achievable prices going forward.  Do you understand why your previous price was wrong?  Do you understand why your process to establish that price was wrong?  Do you truly understand how and why your new price is better (other than people told you it is)?

Do you understand why you have to factor in ebay and paypal fees (based expected gross revenue from sale) when you decide whether or not to make a purchase?  Do you understand why that wasn't a factor in your decision making before?

Aside from that, do you realize that busting out a phone or list IN PERSON while you're in the middle of negotiations to check prices often results in you paying a higher price? or being priced out all together?  The best deals have always happened for me when you can eyeball something fairly quickly and offer cash quickly.

 

I don't want or need the answers to these questions.  But you should consider them.  And honestly, you should already have asked yourself these questions.  If you really want to be good at this and focus on it, you have to really analyze your decisions, maybe write things down as you make decisions.

 

Ok I'm just going to address the last part, I don't bust out my phone in negotiations because I meet these people online and I just recently got this phone. But yes I should write my decisions down more often. 

[thehumantorch]

34 minutes ago, uchiha101 said:

Then why beat a dead horse? Also, why do you keep missing the points I make? I said that I was going to put it up high on ebay because I know there are lowballers, I didn't calculate fees and it's heating up. I also said that I'm willing to negotiate and if I get a good offer I'll take it and that's in addition to me paying attention to prices and changing them when it calls for it. 

I didn't miss any points.  Regardless, good luck with your sales.

[uchiha101]

2 hours ago, thehumantorch said:

I didn't miss any points.  Regardless, good luck with your sales.

Then why address everything else? And thanks.

[Iceman399]

2 hours ago, uchiha101 said:

I love how you misunderstood what I said yet carry on going about how much you hate it, I told you that what I'm doing would be a test and unless you didn't catch the many times I said it if I would get a fair offer or the prices would change it  would be reflected in my listing.....friend.

 

Why play games with your customers?  Why not provide them with an honest & fair price from day one instead of hoping to "test" them.

Yes I'll be set up at NFCC

[Wall-Crawler]

19 hours ago, Iceman399 said:

He won't be setup... I was being facetious.

I hope he is allowed to come and check out all the deals I'll be offering though! 

You should let him volunteer at your booth, teach the boy some selling skillz 

[chrisco37]

49 minutes ago, revat said:

To me the point is not 'yay, I've learned something, I'll lower the price to something more reasonable'

the question is "Why were you at such a high price to begin with? Is your methodology for determining price flawed?  is your methodology for determining FMV flawed? Is your strategy to just try and catch the occasional uniformed sucker (actually a viable strategy if you don't need the money or really care about selling or the book is ultra rare, like ultra rare)?"

Its not all about these specific books, but establishing a methodology for determining achievable prices going forward.  Do you understand why your previous price was wrong?  Do you understand why your process to establish that price was wrong?  Do you truly understand how and why your new price is better (other than people told you it is)?

Do you understand why you have to factor in ebay and paypal fees (based expected gross revenue from sale) when you decide whether or not to make a purchase?  Do you understand why that wasn't a factor in your decision making before?

Aside from that, do you realize that busting out a phone or list IN PERSON while you're in the middle of negotiations to check prices often results in you paying a higher price? or being priced out all together?  The best deals have always happened for me when you can eyeball something fairly quickly and offer cash quickly.

 

I don't want or need the answers to these questions.  But you should consider them.  And honestly, you should already have asked yourself these questions.  If you really want to be good at this and focus on it, you have to really analyze your decisions, maybe write things down as you make decisions.

This is such a great post.  

Of course, the entire point was missed.  At least we don't have to worry about the phone thing.

[Red84]

18 minutes ago, Wall-Crawler said:

You should let him volunteer at your booth, teach the boy some selling skillz 

Did someone say Facebook live?

[uchiha101]

3 hours ago, Iceman399 said:

Why play games with your customers?  Why not provide them with an honest & fair price from day one instead of hoping to "test" them.

Yes I'll be set up at NFCC

 

I want to see what offers I would have gotten that's one of the reasons and what's your company named again?

[uchiha101]

2 hours ago, chrisco37 said:

This is such a great post.  

Of course, the entire point was missed.  At least we don't have to worry about the phone thing.

 

He said not to answer the questions but it's something to think about and no I haven't missed the point I read it

[uchiha101]

3 hours ago, Wall-Crawler said:

You should let him volunteer at your booth, teach the boy some selling skillz 

That's actually a decent idea 

[Iceman399]

1 minute ago, uchiha101 said:

I want to see what offers I would have gotten that's one of the reasons and what's your company named again?

There is a difference between seeing what offers and searching for a sucker.  There is enough info out there for Invincible books to know that $800 is searching for a sucker.  It's one thing to see if call it 10% above market will fly, especially trending hot books, but 2.5x (250%) that's a bit much.

ERComics.  I'll have a double booth in a pod of 4, probably beside Keith's pod.

@Wall-Crawler Normally would love to have help, but already bringing in extra hands for this con as I have so much space (50+ long boxes).

[uchiha101]

2 hours ago, Iceman399 said:

There is a difference between seeing what offers and searching for a sucker.  There is enough info out there for Invincible books to know that $800 is searching for a sucker.  It's one thing to see if call it 10% above market will fly, especially trending hot books, but 2.5x (250%) that's a bit much.

ERComics.  I'll have a double booth in a pod of 4, probably beside Keith's pod.

@Wall-Crawler Normally would love to have help, but already bringing in extra hands for this con as I have so much space (50+ long boxes).

 

Then how come I see boardies charge higher then 10% over gpa and it's fine? Also it's cool that you're beside Keith