Well, I have to tell you that this whole situation has taken on a life of its own. I started all of this as research for an article. Next, that turned into a four hour course, and now I am finding stuff to sell almost everywhere I go. To be honest with you, it has really become very fun. Maybe I will get tired of the scavenger hunt at some point, but for now it is like a never ending adventure. The amazing thing is that the more I go out looking for things to sell, the easier it gets. I am even finding items to sell when I am just out doing regular shopping.
First let me share with you what is happening with the products I have already sent to Amazon FBA. Out of the thrity items in my first shipment, I have already had nine sell. This has generated over $140 in payments to me from my Seller Central account. What is remarkable about this is that most of my items just became available. It took about a week to ten days for my merchandise to arrive at Amazon and become active. In fact, some of my first shipment is not even showing up yet as available. I am really very surprised at the amount activity I have seen. Maybe this is due to the proximity of Christmas, who knows?
Continuing To Easily Find Items To Sell
This exact toy is going for $9.99 at CVS. It is selling for $26 at Amazon.
Another CVS find are these remote control cars pictured below. I bought one and it sold almost the minute it hit Amazon last week. I went back to my local CVS and they were all sold out. I found a couple still on the shelf at another CVS about 20 minutes from my house. I bought these yesterday for $9.99 each. They are going for between $22 and $31 on Amazon. Since I am fulfilling through Amazon FBA, I will list mine for around $31, as this is the amount that others are charging when free Amazon Prime shipping is included (It is interesting to note that you can get significantly more money for your items when you have Amazon do the shipping. It seems like people are more trusting of an Amazon fulfilled order and the free Prime shipping benefit really adds value to the overall transaction).
I am using a couple of examples here from CVS, but I have also found items at Ross, Marshalls, and a ton of items at thrift shops as well. I am also unloading a bunch of books that I have no use for that are already sitting on my bookshelves. Just random items that jump off the shelf... take a look at these collectible Marvel wallets in very unique tin boxes. These were on the clearance table at Ross. I paid $14 each on these and hope to get around $40 to $45 as they seem to be highly collectible. I had to go mostly on instinct as I could not find these exact items for sale on Amazon. In fact, when I scanned the bar code the result was 'product not found.' Based on the prices that I was able to find for Marvel wallets alone, these boxed sets should be easy to unload at a profit. We will see...
Elmo Live (2007) Collectible Toy For $1
As I have mentioned in my prior articles on this, some items are more appropriately sold on eBay. I found this Elmo doll in a stack of stuffed toys for $1 at a thrift shop. I noticed that it was some kind of electronic gadget as it was a little heavy, and had an on/off switch on the foot. Well, I clicked it on and it was not working or the batteries were dead. Well, for $1 I took it anyway. I brought it home and opened up the battery compartment. Six new AA batteries and a 5 minute cleaning of the corrosion on the battery terminals and voila, ...good as new. This toy is crazy - it talks and sings and moves around. The most hilarious thing here is that my dogs are terrified of it. I set it on the floor and turn it on and they go insane (maybe I should keep it just to torment my dogs ...). It looks like it will bring $30 to $40 on eBay, and that is where it will likely end up.
I just started looking into how to buy items wholesale and resell online. Much of this has to do with purchasing from overseas and importing. The good news is that importing is not as difficult as it used to be. It is now possible to buy in modest quantities and the shipping time has greatly improved as well. I am also researching the whole concept of private labeling. This would involve creating my own products. For example, I could locate wholesale sources for magic tricks and then create my own magic kit. I would design my own box and have it printed, and come up with a product and brand name. I would then put say, ten magic tricks in the box, and now I have my own unique branded product. This is really exciting because it would be a lot easier than having to constantly go out and look for products to sell. Additionally, it wipes out any chance of head to head competition (no one else would be selling the exact same item as it is my own unique product).
I still feel like I have so much more to learn, but I guess I am doing a few things right so far. The cash register is ringing, and that is the ultimate judge.
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