When selling on eBay, my normal motto is to “Flip an item as fast as possible”, but in some cases, it may pay off to be patient. You may have an item that is really easy to find right now, but it could be seasonal. When the supply dries out, the profit probably will go up, right? That’s not true in all cases, but if you do your research you could walk away with much more money!
Lets take a look at a recent purchase I made. Not to long ago, I was walking through a store with my wife, and I found a huge lot of FrankenBerry cereal on clearance for $1. This typically is a Halloween item, but since the holiday was over, the store seemed to think that the demand would go down. I pulled out my handy smartphone, and checked the completed listings on eBay. I really wasn’t that thrilled with the results, and I kept on walking. That’s when it hit me, since they are on clearance they will be gone soon and people may still want them. Instead of listening to my instinct, I pulled up one of my new favorite apps, Terapeak. I was able to see that I was right; a few months after Halloween, each box spiked to between $5.50 – $9 a box. So, against my wife’s wishes, I bought all 120 boxes for $1 each.
It’s not like these are selling like crazy on eBay, so I had to develop a strategy to sell these before August 2013 (thats when they expire). So here is what I found:
They are selling better in the United Kingdom then in the United States, so I decided to add UK visibility for $.50 to my listing.
The current average sell price right now is $5.99 with $16.50 shipping to the UK, so I decided to sell them now for that amount. According to USPS, it will only cost $12.50 to ship the box there, so that will leave me a profit of $5.37 per box.
According to Terapeak, this number will grow throughout the year, so even if I only make $5.37 per box, I would have made a $644 profit on FrankenBerry cereal.
I am using more sources than ebay to sell this product.
If all else fails, I have a lot of FrankenBerry to eat
Thanks to TeraPeak, in this case I have the knowledge that my product will probably sell for more in a few months, but since I have so many boxes, I think I am going to sell now and hopefully sell out throughout the rest of the year. If you have never used TeraPeak before, I suggest you at least check it out. Right now it has a free 7 day trial, and it has made a difference in how I make money on eBay. You can check it out here: http://www.terapeak.com.
Have you ever had an item that you sat on for awhile to make more money later on? If so, what was it and was it worth it?