Can Two Different Pricing Strategies Be Right?

In this video I am reacting to a video put out last week by ‪@commonwealthflipper‬. In this video I try my best to make a point that you can have different selling strategies on eBay and you can be right. There are many factors involved in this equation and no two resellers have the same factors. Thanks to Kevin for the shout out on his channel.
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‪@CommonwealthPicker‬
‪@commonwealthflipper‬

[@biffboffo]

Good video. I cling to my grail items and churn my common items. Having grail collectibles attracts traffic and builds my reputation in the category. If someone wants a grail, they have to pay up. I sell enough common items to wait. In the meantime, my store looks cool and gets followers.

[@UndercoverTreasureHunters]

Great discussion. We totally agree that knowing your purchase price is important. We keep an excel spreadsheet where we keep track of purchase price, sale price and total profit for each item we sell. Not only does this help us know what offer we would be willing to take for an item but it also helps us determine what items we would try and source again and what items we would not source again. We are still new so we are learning as we go. We appreciate this discussion it’s very helpful. Respect to both you and the commonwealth flipper

[@No1Design_]

I like how the Toilet Seat Follows Jon from he garage to his KZbin Room........

[@anytimepicker]

hahahahahaha

[@anytimepicker]

I just need toilet seats close by, just in case, you never know what type of chocolates life can throw at you :)))))))))))))))))))

[@hustle-n-grow]

If i paid $.10 for something i wouldn't care about buy cost either but the reality is that if you're running a reselling business then buy cost is very important. I like Kevin's content but i don't see him as running a reselling business. He's a KZbinr that uses reselling for content. Not to take away from what he does but most people need to be conscious of their buy cost.

[@whysoblutube]

Correct. There’s Used Book Guy who buys media at the lowest possible prices and doesn’t care about those variables. If he pays 10cents for something and can get $50 for it, he’s taking the $50 every time. He’s about making as much money as possible in the most efficient ways possible. To sit on an item to potentially get more money is not an option.

[@No1Design_]

Pro tip.......Do both.......Always source your bread & Butter Inventory and be on the look out for that one of a kind/unique item.......this way while you churn & burn your bread & Butter from time to time your one of a kind will trickle in and give you a bonus.........Now easier said then done and the hard part is finding a steady bread & butter inventory......everyone plus their aunt Thelma can find a one of a kind when out and about.....it is like that saying "Eventually....even a blind pig will find a truffle".......People think it's the one offs that are hard to source, but nope, it's the bread & butter......Cause once you secured your steady stream of bread & butter inventory the rest is easy and fun.........this is not an opinion...... its a fact........

[@philcastora6564]

I was just talking to my friend on how both you guys came out with the same topic. On the same day

[@cassandra7377]

You guys are different types of resellers, which is why you have different strategies and rules you go by. Some people don’t mind waiting for the perfect sale for the right price, while others want to move inventory to keep things fresh and new.

[@gemflipper]

Hi, The way I approach my reselling eBay business is to always keep things flowing. I've had buyers shocked at some of the offers I've accepted because I keep my buy cost as low as possible. If I'm making money I'm always willing to offer somebody a deal. However there are instances where I will stick to my guns or I'll price something because I know it's going to sell at that price based on what the sales history looks like. For instance I picked up a Sony handycam digital video recorder. Consistently sells for over $200 and I'm going to hold out for at least $200.

[@susanphelps9674]

I love Kevin and you as well.

[@FlippinAintEasy]

Thanks Susan!

[@carlagraca6022]

I think both of you are right. I sell collectibles and, like Kevin, I don't usually consider how much I'm in on an item when I'm selling. I do consider it though, like you, in the following situations: if an item has been on my store for 3+ months or If I need the money now. After all, the idea is to be a seller, not a hoarder.

[@anytimepicker]

I can tell you one thing that jacket that Kevin sold is very cool, I would have bought it, but not for that much :))))))))))))) I would have done the same thing as Kevin did, I would have sat on it until I would get what I wanted for it, because it is unique and that type of stuff which rare, you can sit on and wait for the right buyer, that is my mindset, if I paid $100 for that jacket, then my mindset would have changed and I would have sold it faster, so it all depends how much money you invested in the product to determine how fast you need to sell it, if you invest small amount of money in any product and you know that you can sell it for decent amount, then I would sit on it, if the product is saturated, then it doesn't matter how much you invest, you need to move it at the price that is on the market for that product. But if i would buy tupperware for a dollar, I would sell it for 50 cents hahahahahaha, there is too much of it with exceptions, Kevin has all the unique pieces of tupperware anyway :)))))))))))))))) Good video Jon.

[@silverfoxfinance]

I need to source those toilet seats!

[@FlippinAintEasy]

I haven’t sold one yet. Need to adjust my strategy.

[@newtongirl2430]

The best pricing strategy is the one that is best for you. That either pays the bills, helps save for a vacation etc etc. If a person can afford to sit on an item to get the right buyer and the right price, that is fine for them. Not everyone can afford it. Not everyone has revenue from KZbin, District, affiliate money, a full time or part-time job etc. Why would someone let someone else's business model dictate how to run their own business?

[@Tundra455]

This is my thoughts I purchased some laughing singing Christmas ghosts for 90% off at hobby lobby the buy cost was $5.99 I had 30 of them I sold 5 fast at $84.99 and had no problem selling them. On day I’m going down the interstate with wife and an offer 2 for $100 came in which changes my price to $50. So I thought yeah I can do that. Then after I did I say to my wife I just messed up. These items now will only sell for $50 or less now. And I was right I never got more than $50 on the last 21 I sold just as fast as I was selling the $84.99 ones the problem is I gave people the mindset it no longer sells for 84 it’s now 50. Now I profit either way good but should I have taken the 2 for 100 price. To answer my own question.. no

[@FlippinAintEasy]

I’m not convinced that most buyers look at sold comps. Now if your competition lowered their prices based on these recent sales that could be it to. Also consider that in the summer your market is somewhat limited on seasonal items. Beyond the first 5 that has to have it at your price point, I wonder if it is a situation where you have saturated the market on that item where the demand will eventually go back up as we get closer to the holiday season. Something to consider.

[@Tundra455]

That’s a good perspective yes the price goes up during the season and down when season is over I’ve noticed though that Halloween and Christmas sells are pretty good all year round for me that is I’ve already sold a few items of each season already this year.

[@Tundra455]

That’s a good perspective yes the price goes up during the season and down when season is over I’ve noticed though that Halloween and Christmas sells are pretty good all year round for me that is I’ve already sold a few items of each season already this year. But also all the selling I was talking about the November and December of 2023

[@ADawg478]

🫡 another banger

[@colewilliams767]

The term is velocity of money

[@philcastora6564]

First

[@ACDC4LIFE]

You get a cookie 🍪

[@LarryM-024]

How dare people have a different opinion! The Beard rants for weeks I CHALLENGE YOU! WALMART IS THE ANSWER! You put out a video with some fairy tale sales hypotheticals. Who cares how other resellers do business. All this is, is content for you guys to put out videos and make money. You are explaining this one item as if you would do it with all your items. It’s all BS 🤣

[@FlippinAintEasy]

Hey Larry. Question for you bud. If you have so much disdain for content creators, why do you watch? I already know the answer. You want to pick up bits and pieces of information just as all of us do. If you really knew the truth, the $500+ a month I may make from making videos is a drop in the bucket and certainly not the driving factor in the creation of these videos. So please stop watching the content of you really do feel this way. Why would you put yourself through watching such bad content?