Rob and Melissa Stephenson from Flea Market Flipper share one hack that could help you make more money while reselling on eBay.
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7 Ways To Increase Your Ebay Sales Podcast: https://the-reseller-hangout-podcast.simplecast.com/episodes/how-to-pick-up-your-ebay-sales
How To Remove Negative Feedback From Ebay Podcast: https://the-reseller-hangout-podcast.simplecast.com/episodes/how-to-remove-negative-feedback-from-ebay
Reseller Hangout Podcast - Rob and Melissa On One Hack That Could Make You More Money
Rob: What's up, guys? On today's episode, we are excited about this one hack that can make you hundreds, if not thousands of extra dollars on eBay.
Rob: All right, guys. So today we are talking about the hack. This is the hack that can take you to the next level in your reselling business.
Melissa: Now, this might sound super simple because it is simple, but at the same time, it really like, I think it's one thing you do without really knowing you do, it's just a habit that you do.
And every time, I'm like, this is so huge when trying to price stuff, trying to know if something is worth a lot of money. So we're gonna dive into that in just a second.
Rob: That's right. But there are some other things around this hack that you have to know about your feedback about, just the whole selling process or the research process of the items when you actually find items.
So, that's kind of what the hack jumps into. So should we tell them.
Melissa: Yeah, let's do it. Go ahead.
Rob: Well, this is the hack. So when you are doing research, when you're out there at the yard sales, when you're out there at the flea markets and thrift stores, you see something that might be worth money.
So you plug it in and you look it up on eBay. You look at what it's selling for. You also look at what the completed listings are.
Melissa: Those are checking comps and that's what everybody does and that's pretty normal.
Rob: Absolutely. So the one thing that we do that you guys might not be doing, but if you're not, this is the hack. So instead of just looking at completed listings, you go up to the top of completed listings and you want to sort by highest priced items.
You want them to show you all the highest priced items first, and then it's just going to go down from there and show you the price range of the highest that you can possibly get for it. And then you just scroll down and look and see what they have sold in that price range. A lot of people don't do this because you then know what eBay is bearing right now, what they are allowing these items to sell for.
So this is the coolest thing ever, because if I can find an item at the flea market or the thrift store, I want to know what the highest possibility, highest possible price I can get for that item. That way I know what I can invest in the item. So if you're scrolling through and just doing completed and then looking and trying to sort through the parts and the other things and the other things, all the stuff that's listed for that item that has something to do with that item, you're having to look and scroll through all these other listings that might not be anywhere near what you're trying to find. So when you do the highest first, it gives you a great idea of what you can sell that item for.
Melissa: But then also you're learning the higher brands too.
So now, like you've looked at what, what is selling the most? So maybe you're looking up an item and it's this brand and you're like holy buckets. Like I, now I need to be on the lookout for that one. So you learn a lot more, you learn about the more expensive ones too, that are up and coming.
Rob: Absolutely, and take it a little bit further.
So like a stroller, maybe you're out there and you see a bugaboo stroller, bugaboos high-end strollers. You find that stroller you type in bugaboo and then you actually put completed, and then you go from the top. You let it sort by the highest prices that were sold. You might see other models.
You might be looking at a frog. You might be looking at what are the other models, camel or the bee, the Bugaboo bee. So there's a whole bunch of different models, but you want to know, this is how you build that research in your head. You want to know bugaboo, this is already a high brand. I know that. Now what models are really, really worth the money?
And then you might not even know what the model is that you're looking at the flea market. You don't know what that model is, but then by looking at the ones that have sold, you can find the same exact model because you can see the pictures and then you know what that model is worth, but then you might also see what the other higher end models are or lower it's just a great way to get your own mind built, your own inventory in your mind, built of this knowledge of next time you see an item, you have a better idea of what it's worth.
Melissa: And it also lets, you know, if it's not worth to buy something, because if you're say you do highest to lowest, say there's an item, I don't know what for a hundred dollars. You plug it in and see what is it worth? And you go from highest to lowest and now you're on the second page and the third page, and you're down to $200, you know, like it's not worth it. So if you can't find that brand right there, then it's probably not worth it to get.
So, you know, you're not on that first page of high profit or whatever it is. So then, you know, like, okay, I'm going to pass on this item.
Rob: So this will change your business. This will change you guys being able to make those higher profit items or find the research on those higher profit items in less time.
Melissa: Yeah, it saves you a lot of time.
Like every time I forget to do it, and then I, when I do, I'm like this saves so much time, it saves a ton of time.
Rob: So the other thing that you have to remember about this, when I'm doing the research, you guys know we have a feedback, a hundred percent feedback. That's what we really strive for with our eBay business.
We don't sell a lot of items. We sell minimal items with higher profits. So, the feedback for us, you know, we might get a feedback on an item that we sold for $5,000. That means a lot to somebody knowing that if they're going to buy something for $3,000, $4,000, $5,000, they know that they're going to get what they're paying for because that's, we've got the feedback to prove it.
So, this is huge when you are doing the research. So if the height of what you're doing, the research on the comps for, is say, you're looking at a bugaboo stroller and you see the highest one for that stroller is $900 and then you start scrolling down and you start seeing, going down for $700, $600, $500, $400.
You see that price break between $400 and $900 for the exact stroller. Some of them might be used. Some of them might be brand new. You have to calculate what it is. But for us, with my feedback, I know I can sell at the higher end of the used items. So, and sometimes I can even ask more than that, depending on if I put pictures and videos in the listing.
So that goes into another whole other can of worms.
Melissa: We've talked about feedback on the podcast. We'll put the link in the show notes too, for that, because that feedback is super important. And if you are just starting and you don't have a lot, you just know that maybe you're in the mid range or maybe you're in the lower range.
It just depends on where you're at and then you build it up and then you can ask the higher range of that.
Rob: Absolutely. That is one of the keys with the feedback to knowing how to price your items, with the amount of feedback that you have, because if you strive to get that a hundred percent feedback and you're building your ratings up, your feedbacks up, that will allow you to get to the higher portion of the comps that you're actually doing the research on.
Melissa: So next time you're going to research a comp, go check the highest price plus shipping and let us know if that helps you save some time when you're looking at comps.
Rob: Absolutely. And you can also do it on the active listings. So you don't just have to do it on completed. You can sort the active listings the same way.
So anytime I ever do a comp, immediately, the first thing that I do is go to the highest price. I think it's highest price plus shipping, that they're going to ask to actually list. And I do it for the active listings and I do it for the completed listing. So, you know, that's your price range that you can get into.
Melissa: So hopefully this is helpful. Let us know. DM us on Instagram, comment below on the podcast, and yeah, let us know.
Rob: You guys rock. Have a great day.
Melissa: Bye.