I Made a FORTUNE Selling 12,500 Items on eBay and Amazon

[@brinx4530]

I came to your page because I knew you had the integrity to respond. I’m going to switch my repricer. Thanks so much for taking the time to help!

[@goldenstatepicker]

It took me about 1.5 years to finally get really going on AMAZON. It is harder now then back then. Have to keep looking long term. Find quality and send it in.

[@paullatta]

I'm always encouraged to grow my sales after watching Mike's videos especially the year end summaries!

[@goldenstatepicker]

Thanks for watching. Always appreciate it.

[@Salty4eva]

Great business, great attitude! Congratulations 🎉

[@weslisa1966]

Mike, you're one of the few resellers i watch each video when released. I enjoy the format of your videos and information you provide. My wife and i have been reselling for about 3 years. Its a great hobby/bonding/side gig for us. We're building our reselling business as a supplement to our retirement income as I plan to retire buy age 62, im 58.5 now. Looking forward to your future videos.

[@goldenstatepicker]

Super thanks for watching my channel and all the best to you and your wife.

[@levintageteacups7533]

I have been following you for about a year and my sales are slowly improving. I also started following The Coastie Picker, which is also interesting. I didn't know who it was at first and then I remember you talking about your Coast Guard son-in -law. He has a good presence and a lovely wife and family.

[@goldenstatepicker]

@@levintageteacups7533 thanks for watching. He’s trying to do more videos. He has a very unique business of junk hauling and finding stuff to all resell from the hauling. Thanks again.

[@fartsackjack7081]

MAN I THOUGHT FOR SURE U WAS GONNA TRY N SELL ME A DAM COUCH THERE FOR A SECOND .....lol KILLER SALES MAN IVE LEARNED ALOT FROM U OVER THE PAST FEW YEARS .....THNX MUCH

[@goldenstatepicker]

@@fartsackjack7081 would you like leather or fabric?

[@BeckyG-ip2ns]

Yes, I'm in your age bracket, and a few years older.....LOVE your channel and love Colombo, too. I collected alot of his shows on VHS, still have them. Plus have several years on dvd. Just starting as an eBay seller, misc and books. I'm not smart, but my age gives me insight to a lifestyle that was 50 years ago. Thanks for your info !!! Other TV shows.....Twilight Zone ??? Have complete TZ on dvd......

[@goldenstatepicker]

You're smart. So, keep on making a few extra bucks.

[@oscarcarrillo8130]

Wow! I love this Thank you for sharing!

[@FindandFlip]

Hi Mike Thanks for sharing your information and I totally love your motivational thoughts. Very true.

[@brinx4530]

Sir, if you could…I watched many of your videos as well as raiken profit about selling books. I started in December sent in 260 books ranking under 1 mil.. I started sending books as fast as I could thinking I would make maybe $500-$1000 (I know gullible) the first month. It’s been six weeks I sold $215 & received a 33 cent check from Amazon only was told my fees exceeded my income doing fba btw. Please help explain the fees or is this normal in the first 60 days I’m confused I thought the books sell themselves. Thank you,

[@goldenstatepicker]

Not all 250 books will sell right away. I don't know the profit off of each book etc. Are you using the proper software? REPRICER etc. It takes time to build an inventory. They hold back money for returns and other items. They don't trust any new sellers and as a matter of fact OLD SELLERS. So, build the inventory and try to stick with it for awhile to see how it works out.

[@paolosstore]

Good video, smart guy. There was a reddit thread where someone asked for good reseller youtubes. I suggested yours. :)

[@goldenstatepicker]

Thanks for the comment and watching my videos.

[@paolosstore]

@@goldenstatepicker Since you had 1300 subs!

[@tracybutler8028]

Columbo. Oh my gosh! No wonder I like you. Mattlock is amazing too! ❤

[@goldenstatepicker]

....just one more thing.

[@tracybutler8028]

@@goldenstatepicker 😂😍

[@fibersflowersandfinds]

Love Columbo! ".....just one more thing..." My husband and I watched it when we lived in the middle of nowhere NY and could only get about 4 channels via broadcast if the weather was good. We were probably watching reruns then as we are a bit younger than you.

[@muskel-adolf8582]

Thats what we were waiting for!

[@JB-gt5no]

Hands down the best advice on KZbin.

[@goldenstatepicker]

Thanks for the kind words

[@dbeverlybrtn]

I know in the past I have heard people have asked you about shipping costs. I have been letting the buyer have the cost that it costs me to ship. I do not add for supplies because I reuse shipping boxes and packing supplies. (except for tape of course) We buy a lot on amazon etc. and have a lot of boxes, paper etc. laying around. I guess I am leaving a lot on the table doing that???

[@goldenstatepicker]

IF you just get the cost back without figuring the fees that eBay charges on the shipping. I use 15% as a rule. So if you charge $10.00 and get $10.00 eBay is taking a $1.50. So, you lose that $1.50.

[@dbeverlybrtn]

@@goldenstatepicker Thanks

[@judydaines1295]

Hi Mike, I’m curious how you will ship the ceramic Santa. Do you double box and use fillers? Thanks.

[@goldenstatepicker]

Yes, it was double boxed with boxes that were double walled and craft paper, bubble wrap.

[@judydaines1295]

@@goldenstatepickerwow thank you for responding so quickly! You’re the best!

[@swaggod226]

What are some good software to keep track of your expenses, and taxes

[@PatDees]

Enjoyed video Mike - simple straight forward … are u moving to NC ?

[@goldenstatepicker]

Pat I may some day. Right now its about 3 months a year. It's hard to leave the beauty of California. We have my wife's dad who is 90 also to take care of. He is still living on his own, but getting harder for him. If it was up to my wife....YES we would. I will let everyone know when I make that decision. Thanks. KEEP FIGHTING THE GOOD FIGHT My FRIEND.

[@PatDees]

@ thank u ..I’m in Pennsylvania..I try to travel south once a year …not this year due to having to focus more on reselling..

[@goldenstatepicker]

@ I watch your videos. Thanks again for watching

[@PatDees]

@goldenstatepicker I know u do - I have seen your comments

[@2strive405]

I love selling flash cards & educational materials!

[@b-man1232]

Wow...awesome #'s!!! How often do you list on Ebay? Daily...2-3 times per week....etc.??

[@goldenstatepicker]

@@b-man1232 if I have something everyday. Key is to not have a death pile

[@johnross3295]

Thanks Mike, great video! Very impressive numbers. I'm also curious about your income from KZbin. Is there a reason you don't share that info as well?

[@goldenstatepicker]

You would be surprised how little. I make around $6,000-$7,000. I'm not a big player. LOL It's good money just not as big as some might think

[@kimnimz3417]

I just stumbled onto your KZbin channel and I am so happy I did! I am a senior just starting out on eBay so you are a massive help to me. Is there an easy spreadsheet for beginners to use where I can track my mileage, my purchases, etc.? And second of all I’ve been hearing that eBay is changing from 6000 last year to 2500 this year and then 600 next year before you need a 1099. Can you explain a little bit about that and if those numbers are correct thank you again.

[@goldenstatepicker]

There are apps in the APP STORES for mileage. I have on car that is used just for my reselling so it is easy to track my mileage. Start of year and end of year. You can just have a note pad in your car and mark down the mileage for that day etc. IRS is that picky when you are a small time business. I always have told people that if you want to sell then go for it big time and not to worry about the NUMBERS the government puts on 1099 sales from EBAY etc. I do believe the numbers are lowering each year. Thanks for watching. The hard part is saving for the taxes you might owe. A small seller shouldn't owe much if anything at the end of the year. Just focus on your business and let it grow.

[@odtgaming7278]

Do you track how many bins you bought last year?

[@goldenstatepicker]

Yes, I can tell due to the purchase amount inside my software for tracking them. $90, $180. $270 etc. We did around 300 bins at quick glance. Sometimes I split with a friend who occasionally does books with me.

[@junkermans5836]

Hi Mike, I watched one of your videos and heard you are a Christian! My wife and I are also Christians! Great videos and God Bless.

[@AB-jg2ym]

How many hours per week do you put into re-selling?

[@goldenstatepicker]

@@AB-jg2ym in various ways 50 hours. But it’s not like I work continuously. I may be out and about but not grinding away all the time.

[@JewelsNcrime]

Is the cost of goods for every single thing you sourced in the past year unsold too, death piles , donated items and any investments or is that just only on the items that sold for the year. I ask because some resellers completely disregard all the money that went towards sourcing stuff that hasn't sold or sold yet. I mean if it's disclosed at tax time why not disclose it here since reselling is so profitable.

[@goldenstatepicker]

Yes, everything I sourced. So, my duds are in that cost of goods all that matters is what was my bottom line. Other deductions will help me to knock down some of the personal taxes I pay etc. Like adding to my SEP retirement account. The number you see is the base line and from their deductions and other stuff come off. I can't disclose all my personal stuff. This is just a simplified number and is very true to what I have made this past year.

[@bobscheer6641]

Hey Mike, so many Karens leaving comments. Dont engage the haters. They just jealous.

[@goldenstatepicker]

@@bobscheer6641 Yeap. It happens. Have to swat a few Karen’s! Lol

[@JB-gt5no]

Finally!

[@goldenstatepicker]

Thanks for watching

[@Kevin-rs6cr]

What percent of your time would you say is dedicated to the books versus the stuff you sell on eBay? Also, what was the split of COGS between books and eBay? And what you are saying about estimated taxes is incorrect. If you have income over $400 from a small business you need to pay either 90% of this year's tax or 100% of last year's tax in a quarterly fashion.

[@goldenstatepicker]

You don't have to. You can choose to pay the penalty. I haven't paid quarterlies in years. I choose to pay the penalties. My break down is 100% of the cost is on EBAY as the items in my bins are paid for by EBAY sales. I have made money selling the items in the bins off eBay. I just use the thinking to make it easier to think about AMAZON as pure profit. BTW my 35 years of retail sales never audited. 6 years on Ebay and Amazon never been audited. Why? I report it all and take all legal deductions allowed.

[@Kevin-rs6cr]

@@goldenstatepicker It would be really useful to know how much of your time is spent on books vs eBay in hours per week. I think it is really useful to think about the returns from reselling as an amount of profit per hour worked; since that is the primary contribution to the endeavor.

[@goldenstatepicker]

@ go back and look at past videos of my numbers. I have broken that down. Tedious in these videos now. It works out to about $50 an hour. Now. I could take my 3 months away from all this and inflate it more. I made over an $100,000 working at least 50 hours a week.

[@Kevin-rs6cr]

@ Thanks for the info!

[@Kevin-rs6cr]

@ I was really shocked by the fact that you said that you haven't paid quarterly estimated taxes in years. It never makes sense financially to do this because the penalties are far more than any return you could earn from holding onto that money. This is terrible advice to be giving people. Saying you don't have to do this because you can just choose to pay the penalty is like saying you don't have to follow the law because you can just choose to go to jail. Not smart at all.

[@jonathanboese6818]

Next!

[@goldenstatepicker]

Second always sucks.

[@89cgil]

You likely bought your house for a song, and pay 1970 property tax rates lol

[@goldenstatepicker]

@@89cgil not quiet 1970’s 1994. Housing is nuts here these days.

[@89cgil]

@ Nice! 👍 really enjoyed the video btw. Thanks

[@user-ll4lf5go1m]

So much trash and junk. Such is a consumption based economy like in the US. People refuse to learn the difference between needs, wants, and desires. What a waste of money on the consumers side. And they wonder why they are broke. Shakes head and walks away.

[@NightThings99]

I do not believe it. Just sourcing that amount at the right price would be impossible. Then you took 3 months off also. I would believe it if you had multiple people working with you. Plus just listing new items and the whole shipping process. Also, when you go and source items, you have to get them really cheap bc you have to calculate in those expenses for getting item to customer. Something smells fishy.

[@goldenstatepicker]

My goodness....Have you ever watched my videos? I've been doing these for 4 plus years. I'm one of the few resellers who shows you my numbers. I do everything I just said I did. I also was gone 3 months in 2024. Read the comments. People who watch me know. I don't mean to be cruel but GET YOUR HEAD OUT OF THE SAND! Don't just jump to a conclusion when you don't know me or my channel.

[@NightThings99]

@@goldenstatepicker Your videos are 40 minutes plus and you go in circles on multiple topics. I have watched a few of your videos and you can not just do a 5 min video saying I made $100k, my fees were $30k, my expenses were $40k and my net profit before taxes was $30k. You literally have to drag it out. Explain to us the viewers how you live in Silicon Valley California, one of the most expensive places in the USA and you can source items there that you can resell for a profit? Makes zero sense. I live in one of the poorest states in the USA and if I buy a DVD for $1. shipping it is $4.63 with media mail, packaging it cost $1.Ebay fees is another percentage. That means I have to sell the DVD for $10 to maybe get $2. Plus your garage is not holding 13,000 items and you have to have a ware house with all your inventory. It just does not add up because you drag it out and you are not showing the full picture. People watching your videos are people who are either doing Ebay or thinking about it. That is why you literally have tons of people asking you the same thing in the comments.

[@NightThings99]

@ You are such a liar that it is ridiculous. Most of the people selling are full of it and people believe you is the bad thing. I made $300k but my expenses were $400k and I am a nepto baby is the real story.

[@louharland3686]

​@@NightThings99, WOW!! You have some kind of nerve coming on to Mike's channel and calling him a liar. Who do you think you are? I've never met Mike, but he is definitely a better human being than you want to portray him being. He sells online and posts You Tube videos to motivate and inspire other people to be the best sellers they can be. I have been watching his videos for over 2 years now and I can honestly say he is one of the most sincere resellers out there. He doesn't ask you to pay for his invaluable content. He only wants to share his experiences and inspire others to be successful. If you were a decent human being, you would apologize to this man instead of being so cynical and hateful. I would personally like to thank Mike for offering such great content and sharing his inspirational motivation to me! Keep up the great work, Mike!