Tuesday, January 19, 2016

The January Auction Experiment!

January has been slow, slow, slow for me.  It is the 19th of January and I have only sold 8 items this month.  Now, truth be told, I am not the person that is selling something every day.  However, even for me, this is SLOW with a capital S.  The month started off with a bang and I sold three things the first 2 days of January.  Then I hit the wall. There was nothing going on.  Then, eBay sent me a  promotion  for listing auctions.  I decided to give it a try.  Typically all of my items are buy it now, but clearly that strategy wasn't working very well because I wasn't selling anything. So this time around I was going to post mainly auctions. How did auctions do?  They didn't do so great either.  Let me remind you, I said I just had 8 sales so far in January.  There were some things that I put on auction that I just knew were going to sell.  I was sadly disappointed,  but it was definitely an interesting experiment for me. The things that did sell basically sold at the entry price.  Fortunately, I knew to list items at a range that I was comfortable with, so nothing really had bargain basement prices.  This has given me an interesting perspective on listing items.  I think that going forward it will always be good for me to have a mix of auction and BIN pricing.  Also, when it comes to auctions, I think I will mix it up with both high end and lower end items to see how that will go. Basically, my goal is to increase my sales at this point.  As things sell off, I also want to look at sharpening my thrifting skills to ensure that I am purchasing items that there is a clear market for.  There is always room for improvement with that.

 So here are some pics of some of the things that I sold so far.  Nothing exciting, just some bread and butter items. 
Girls hot pink sweatshirt
Men's Carharrt Shirt
Nike Golf DriFit shirt

So what is my verdict on January right now?  Unless something changes, January is going to be a bust for me – just like November and December.  Just to be clear, November and December weren't awful, they just didn't meet my 4th quarter expectations. Prior to the 4th quarter I wrote a post called "Fourth Quarter Success - Fact or Fantasy." It was definitely a fantasy for me, although I did have my share of personal issues going on.  So while I have been getting myself back on track this month, I have determined that I will try to be more strategic with how I list and make purchases.  I don’t have it all figured out just yet – but I am working on it.  My most pressing goal right now is to get rid of some of the stuff that I have.  I want to sell it quick!  In order to motivate me to get that done, I have vowed not to go thrift shopping again until February.  I need to make sure that everything is listed somehow – even if it is in draft form.  That will put me ahead of the game in for February.  No Excuses!!  Wish me luck!

By the way, I’m looking for suggestions on organizing my inventory.......  If you have some ideas, please leave a comment!

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