Like how do you know it's a good find when you see it at a yard sale or auction?

 

I'm almost 60 years old. I've attended auctions for well over half my life. I've seen a lot of stuff (started going to stamp auctions with my dad at about age 10).

 

After a while, you pretty much know. Especially if you have become, if not an expert, very well acquainted with a few specialized subjects.

I'm always fascinated with auctions and I'm a sucker for a good deal :lol2:

 

Maybe I should dabble in some estate auctions. What kinds of items seem to fetch a good return?

My wife loves buying lockers and going to auctions. With Storage Wars and American pickers it's very trendy right now. She, or we, bought $1,000 locker last month and sold it all for $1600. It takes time, space, patience and networking.

Some good points have been made already.

 

Habib is spot on re. proper description of your items for sale. Don't be tempted to throw in what you may think are flowery adjectives (beautiful, spectacular, the overused "vintage", etc.) The reality is that people don't search for those words. You have 80 (I can't remember the exact number) characters to accurately describe your items. Think it of as an abbreviated tweet. Make all of those characters count. BE SURE to accurately describe any damage in your item description. This is critical when selling stuff like stamps, sports cards, glass and pottery, etc. Know the standard grading systems for things like cards, stamps, records, etc. Customers don't like to find out that your near-mint 1957 Ted Williams card has a big old ink spot on the back and you didn't photo the back or describe the flaw.

 

Obviously, you need a PayPal account and a digital camera. I've gotten by with an inexpensive Nikon Coolpix for years. The last two I've purchased on eBay used for about ten bucks each.

 

Your fees, all other things being equal, will be about 10% of your sales plus 10% of the cost to ship your items. Fees can be a bit higher or a bit lower, but that's a good ballpark figure.

 

Have a scale handy. Don't go the "one shipping cost for all locations" route. Let eBay calculate shipping cost - you do this by entering the size and weight of the package as well as the shipping service you plan to use. If you know what your package weighs, you won't get shortchanged and you won't shortchange the customer.

 

Speaking of shipping costs, make sure you have the USPS postage rate calculator bookmarked. Although I generally don't advertise that I ship overseas, I've made many a sale after someone inquires, "How much to ship to...?" I've shipped to just about everywhere. Just requires a simple form to be filled out at the post office. Last month alone I shipped to Great Britain, Costa Rica, Czechoslovakia, New Zealand, Australia and Germany.

 

I almost ALWAYS offer a starting price that I can live with and a Buy it Now option that I can love. The rare exception is when I think I've got something really unique, don't know much about it even after research, and think it has the potential to go through the roof.

 

Speaking of research, don't limit yourself to what similar/identical items are currently on eBay. Make sure you look at COMPLETED ITEMS - this will include items that sold. It will also tell you what didn't sell (always a higher number than sold items) and how much was being asked for the,.

 

If you sell over $20,000 in a calendar year, prepare to be taxed.

 

FIND A NICHE if you plan to do this in the long term. My dad has sold almost nothing but postage stamps, for example, and does a GREAT eBay business.

 

The customer is always right. Over the years, eBay has become less and less "seller-friendly". That being said, it's still an enjoyable and generally profitable hobby for me. What I list and don't sell eventually finds its way to one of a couple local auction house. And in reality, eBay is just an auction house on a global scale that, when all is said and done, charges a lower commission than just about anyone else.

 

If I buy from a local auction house and earn a big profit on eBay, I will often get back to the original seller and give them a few bucks. That way they may be more inclined to sell similar stuff that I can then buy and earn another profit.

 

HAVE FUN!

 

 

PS - I'm small potatoes. I think I'm just shy of 2,000 feedbacks (knock on wood, 100% positive). Best eBay sale in the last year - an original oil painting that I bought at a good friend's auction house for $15. Sold for $2,000.

 

No wonder you're always offering to buy popcorn for folks at the Fieldhouse!

My wife loves buying lockers and going to auctions. With Storage Wars and American pickers it's very trendy right now. She, or we, bought $1,000 locker last month and sold it all for $1600. It takes time, space, patience and networking.

 

I've never been to a storage unit auction. Because I deal in "smalls".

I've never been to a storage unit auction. Because I deal in "smalls".

 

It takes a lot of work to load it all, store it, then transport it to the buyer. You have to really enjoy it for the non guaranteed pay off.

No wonder you're always offering to buy popcorn for folks at the Fieldhouse!

 

If I came even close to describing the unparalleled deliciousness of Fieldhouse popcorn along with my standing offer, I'd be a pauper.

Today's eBay sale - a watercolor painting for $42.50. Bought it for $2.00.

Today's eBay sale - a watercolor painting for $42.50. Bought it for $2.00.

 

Do you know the artist is or do you just list it as a painting

Do you know the artist is or do you just list it as a painting

 

Takes me about 15 seconds to Google an artist's signature if I can read it. You do have to know the difference between watercolor and oil, original or print, etc.

 

This particular one was much easier, however. Label on the back had artist's name, address and original selling price.

I assume you do a little search on your phone when picking to see if it's a value?

I assume you do a little search on your phone when picking to see if it's a value?

 

Nope. My phone is one of those el cheapo Tracfones. No internet. Lots of the folks I see at auctions are using them, but I generally go with my gut.

 

Someday I'll break down and get one, I just never did want to be "that guy" who looks at his phone the whole time he's out eating dinner with his wife.

 

Once in a blue moon I'll call my wife or daughter to check an item on their computer or phone if I really want to find out more than I already know about an item.

Nope. My phone is one of those el cheapo Tracfones. No internet. Lots of the folks I see at auctions are using them' date=' but I generally go with my gut. Someday I'll break down and get one, I just never did want to be "that guy" who looks at his phone the whole time he's out eating dinner with his wife. Once in a blue moon I'll call my wife or daughter to check an item on their computer or phone if I really want to find out more than I already know about an item.[/quote']

 

You have the experience and natural ability to spot a small hidden treasure. It's a talent you had/have and developed.

You have the experience and natural ability to spot a small hidden treasure. It's a talent you had/have and developed.

 

 

That's a very kind description. I'm sure I've missed as many as I've made.

I am good at spotting stuff too. I specialize in things though...toys, sports cards, art and books. Well and computer equipment