It’s already been quite a journey for me, and I’ve only been all-in on selling for six months or so. I started out selling golf gloves and I dabbled in some internet routers and the like. It all started when I was revolving around the gravitational force of a clearance sale, as I noticed a price drop in some pretty nice Nike KO hoodies. I think the price had dropped from $40 ->30 -> 20. And this guy joined my solar system as he also became gravitationally pulled towards the deal. We got to chatting, as I had loaded up my cart with all the hoodies of a certain size, and one of us offered up that we were reselling. I was looking at prices on Ebay and Amazon, but hadn’t gotten started yet. But this guy was already rocking and rolling. He mentioned right out the gate that he made $30 or $40 a pop on these routers he was buying, and that if these hoodies sold well, he would come back and buy all of them. That made an impression on me. There’s serious dough in this business or arbitrage.
Verb “The purchase of securities on one market for immediate resale on another market in order to profit from a price discrepancy.”
Lot’s of people make hundreds of thousands of dollars reselling goods on marketplaces such as Amazon, Ebay, Easy, Craigslist, whatever. I plan on being one of those people.
As of now, I sell on all of those but Easy, which I’m looking into now that I’m thrifting that much more and with some success.
👀 Here are some of my #thriftfinds yesterday. If #Goodwill tells you they can't negotiate on prices, they're lying. I bought 20 🆕 #Puma rugby shirts and they came 25% off. And it's the first time I found a #Nautica jacket 👌 #stoked #colorblock #2017FLIPCHALLENGE #60secclub #ebayseller #amazonseller #sidehustle #thriftstorefinds #GaryVee #reezyresells @peachsoulgalleria @thrifty_drea @visualthrifts #goodwillfinds #502comeup 🆒
So selling with Amazon is crazy. It can be crazy good, all the while being crazy frustrating. But that’s what separates the wheat from the chaff. The hustlers from the complainers. The entrepreneurs from the busters.
My first major move on Amazon was buying all these shoes. I found a great deal on these, and wanted all of them. I understand that it takes big moves to make big moves, but that can also backfire. I talked with Amazon seller support about selling this product, and their representative sounded inexperienced. He assured me that I simply needed to upgrade my account to Professional, which includes paying $40/month, and I would gain access to sell such products, get the coveted “buy box”, and avoid the $1 per item additional fee. If you sell more than 40 items each month, it makes simple mathematical sense to become a pro, and your sales will greatly increase (assuming competitive pricing) with the buy box (the one-click box costumers use to buy the product).
After much travail trying to come up with the proper documentation they required to prove my purchase, I finally got a call from someone in senior management within that department who helped me get everything straitened out. It was a Godsend. And really, it’s been all uphill (in a good way) from there.
I hit a home run buying flashlights and electronics. And now, I’m moving into clothes. Brand approval is super-tricky, but you just have to get an invoice that has the information that they need. So now I’m on my way!