Thanks for making this video, you are a great teacher/salesman and can explain things in great details and easy to understand. I just seen John Pye, big on dozen items, but when the invoice came it came to 777 pounds, with initial 500... So I thought,well I can get all of those products from eBay and have no risk of it being broken upon arrival... So I will not be buying anything. Thanks for your advice again and all the best mate.
I myself have been trying investing and any kind of side hustle to make money outside of my 9-5 job, great video, I have been using ebay as product research for some time however i dont find it too reliable. Although its a great way to tell which items are higher in demand I personally dont thing it shows you all the information. I see bidded items on ebay all the time with current bids on, on just that day. Sometimes more than one, but going into the sold filter you only see a couple. Another thing to avoid ebay and paypal charges is through gumtree/ facebook marketplace. Although its my first time now using johnpye my first payment is a dud due to my poor calculations, i may break even on 2 brand new rechargable batteries. Ive also just bid and won on 3 tomtom 6100’s which almost looks brand new and in box hopefully they come working, totalling £193. Which returns around £130-£180. The great thing about facebook marketplace if you manage to pick up items really cheap, especially popular cheap items or smellies/clothes Which ive seen going for really high prices on ebay compared to johnpye, is that you can cut the price alot and make it look alot more appetising to the buyers. I could sell these for 100 no problem giving they are not duds making around 40 on each, but expecting to sell for £150 plus.
John Pye used to be good, but now, it looks like too many people there bidding. For example, I was looking at Mitre saw the other day, The exact model on eBay is selling new for about 210, yet the item on JP was at least used but sold for a max bid of approx £130. So overall with delivery and fees, you're about the same price as the new one!!! So overall margin for profit nowadays will be very fin and risk very high. My profit used to come mainly from eBay fees, as I only listed when I had the £1 offer.
Great video and fantastic explanation. I spent about £500 this morning on a few different items on JP auctions for the first time so I’ll see how that works out. The 22% buyer fee was something I’d taken into account, along with the other costs, but it is a bit gut wrenching to pay it :). I’d be interested to hear about your drop shipping experience in a follow up video.
@@GrantSignorini Hit and miss but positive overall. The electrical items sold really well, but I had some disposable masks and got caught out because distribution channels like ebay and amazon have restrictions on who can sell them.
What did you use for your dropshipping business? Ebay again? Look into shopify with facebook ads that is my next move, however its getting very saturated and delivery times are becoming much more of a problem when competing with amazon primes next day. Im looking to get into it but then slowly start to get in bulk and order these items to the UK in a fulfillment centre to get items sent out faster. I will also be looking to getting into the branding of things which i think is the way dropshipping is heading. I would love to hear if this has become successful for you and if my johnpye experience goes well i will continue it until i get abit more income to start dropshipping properly as facebook ads can add up.
Also be aware that if you are buying with the intention of reselling you have to declare on self assessment tax return and pay and tax due over and above all the costs mentioned in this video. ☺☺☺ The margins are very slim
Just started buying some things and realised that the profit margins were wiped out by all the fees they put on the items. Ridiculous. Are there any items with good profit margins you’ve encountered?
Lion Batman because the barriers to entry are so low, I.e all you need is internet, access to a computer or smart phone and a small amount of capital, a lot of people are bidding on the same items and the price goes too high to make decent margins. It’s so easy to find sold prices on eBay so everyone knows the fair value of the product. The way to make decent margins is to find products that will sell well on gumtree and Facebook marketplace because then you avoid PayPal, delivery and eBay fees. I found bbqs sold well on these platforms, specifically Weber bbqs because they have an excellent brand. If you can find a Weber Q2200 for sale then you will sell it for at least £300 on any of the platforms. If you buy for £250 after ALL costs have been accounted for on John Pye, you’ll make £50 which is around 20%. You should be looking to pay a lot less than that if you can to maximise your gains. The Weber BBQs come up quite often, but this example is specific to the Q2200 model with stand.
Grant Signorini Thank you! Yes, at first I was willing to sell sneakers, but it’s quite difficult to come up with a decent profit margin using that. I feel like you Facebook idea is really good. Than you avoid other unnecessary fees and lots of similar sellers, as you’ve said. Have you heard of branded boxes? They sell stuff from Urban Outfiters in the box, you don’t know what’s inside but welcome to have a lucky dip for a good price. What do you think about them? It’s sort of like garage sales in US alternative.
Regarding the boxes, it’s not something I’ve come across. I think the concept is reasonable but it’s not a long term income stream that I would bank on. I really believe the best income streams are created by products or services that you’ve created. Yes, it is harder initially but that’s why the margins are better. You control supply. You can improve the product or service; and it’s within your control. I’m not there yet, but I’m working on it and will document the process so others can learn.
Hi, it’s not something I did, although I did consider it. It was a big capital outlay and I didn’t know that market well enough. I could’ve invested the time to learn about watches, but choose to put my time elsewhere (sports card investing)
Given you a sub, you should keep up with your videos and try and make them more frequent, would love to see your channel grow, and see how far you can get with you experimenting/success
Be carefull you will lose your money for thing. I bought stuff from Johnpye; sony wireless earphones, LG XBOOM Bluetooth speaker, 4 hair clippers, 2 Sony earbuds, a laptop and none of them are working all worth 100s of pounds.
I think this answer is different for everyone. For example, if you’re unemployed and want to build up some cash, it’s good. However, if you’re time is limited, you earn a decent income and you’re trying to set up a business, it’s not worth your time as your business should yield much better returns on investment
I’d also say that if you work and want to build up wealth, a better use of time would be to really research and learn how to invest in stocks and shares, as this will yield good returns with less time required. Time is the biggest drawback for John Pye. You really want to create something where you earn money without it consuming all of your time. Take you out of the equation and you can’t earn any money on John Pye. You always need to be active to earn money.
@@GrantSignorini Hi mate. thanks for your response. yes i completely agree with you. vids like yours are great to help eliminate things like John Pye. I have a stocks and shares ISA atm but its always something ive been interested in learning and have learnt a bit about. A wealth of info out there on youtube ect about it. At the moment the best option I can see for building wealth is investing in property, which I plan to buy my first place to renovate and add value to in January. Currently working full time as a junior architect and the best way I'm finding to make money outside of work is to do private architectural jobs in my own time and I can use all of my work computer, software etc so don't have any overheads.
This was one of the most honest review of buying at auctions.
Thank you
thanks for the quality advice
Thank you for watching Will, I’m glad I could help. If you’ve got any more questions, feel free to ask.
Really enjoyed this video. Helped me a lot been looking for something this informative.
Thank you for watching Jared, I really appreciate. I also really appreciate the time you’ve taken to provide feedback, it means a lot.
Thanks for making this video, you are a great teacher/salesman and can explain things in great details and easy to understand.
I just seen John Pye, big on dozen items, but when the invoice came it came to 777 pounds, with initial 500... So I thought,well I can get all of those products from eBay and have no risk of it being broken upon arrival... So I will not be buying anything. Thanks for your advice again and all the best mate.
Hi Denis, glad you enjoyed the video, and thank you for those kind words.
Great video, really thorough and insightful. Thank you!
Thank you for the positive feedback Vytenis, really appreciate it.
How can you tell if item is working or not
I myself have been trying investing and any kind of side hustle to make money outside of my 9-5 job, great video, I have been using ebay as product research for some time however i dont find it too reliable. Although its a great way to tell which items are higher in demand I personally dont thing it shows you all the information. I see bidded items on ebay all the time with current bids on, on just that day. Sometimes more than one, but going into the sold filter you only see a couple. Another thing to avoid ebay and paypal charges is through gumtree/ facebook marketplace. Although its my first time now using johnpye my first payment is a dud due to my poor calculations, i may break even on 2 brand new rechargable batteries. Ive also just bid and won on 3 tomtom 6100’s which almost looks brand new and in box hopefully they come working, totalling £193. Which returns around £130-£180. The great thing about facebook marketplace if you manage to pick up items really cheap, especially popular cheap items or smellies/clothes Which ive seen going for really high prices on ebay compared to johnpye, is that you can cut the price alot and make it look alot more appetising to the buyers. I could sell these for 100 no problem giving they are not duds making around 40 on each, but expecting to sell for £150 plus.
John Pye used to be good, but now, it looks like too many people there bidding. For example, I was looking at Mitre saw the other day, The exact model on eBay is selling new for about 210, yet the item on JP was at least used but sold for a max bid of approx £130. So overall with delivery and fees, you're about the same price as the new one!!! So overall margin for profit nowadays will be very fin and risk very high. My profit used to come mainly from eBay fees, as I only listed when I had the £1 offer.
Great video and fantastic explanation. I spent about £500 this morning on a few different items on JP auctions for the first time so I’ll see how that works out. The 22% buyer fee was something I’d taken into account, along with the other costs, but it is a bit gut wrenching to pay it :). I’d be interested to hear about your drop shipping experience in a follow up video.
Is there any requrequirements to bid on the website, like do I need a business account?
Hi John, how did you get on with the £500 of purchases?
Nope, anyone can create an account. Apologies for the delayed response, I didn’t see this comment.
@@GrantSignorini No worries, Thanks for the reply😁
@@GrantSignorini Hit and miss but positive overall. The electrical items sold really well, but I had some disposable masks and got caught out because distribution channels like ebay and amazon have restrictions on who can sell them.
What did you use for your dropshipping business? Ebay again? Look into shopify with facebook ads that is my next move, however its getting very saturated and delivery times are becoming much more of a problem when competing with amazon primes next day. Im looking to get into it but then slowly start to get in bulk and order these items to the UK in a fulfillment centre to get items sent out faster. I will also be looking to getting into the branding of things which i think is the way dropshipping is heading. I would love to hear if this has become successful for you and if my johnpye experience goes well i will continue it until i get abit more income to start dropshipping properly as facebook ads can add up.
Also be aware that if you are buying with the intention of reselling you have to declare on self assessment tax return and pay and tax due over and above all the costs mentioned in this video. ☺☺☺ The margins are very slim
This is really good advice! I get emotional when buying no doubt 😂
Seda thank you Seda. Was everything clear or can I help clarify anything?
Just started buying some things and realised that the profit margins were wiped out by all the fees they put on the items. Ridiculous. Are there any items with good profit margins you’ve encountered?
Lion Batman because the barriers to entry are so low, I.e all you need is internet, access to a computer or smart phone and a small amount of capital, a lot of people are bidding on the same items and the price goes too high to make decent margins. It’s so easy to find sold prices on eBay so everyone knows the fair value of the product. The way to make decent margins is to find products that will sell well on gumtree and Facebook marketplace because then you avoid PayPal, delivery and eBay fees. I found bbqs sold well on these platforms, specifically Weber bbqs because they have an excellent brand. If you can find a Weber Q2200 for sale then you will sell it for at least £300 on any of the platforms. If you buy for £250 after ALL costs have been accounted for on John Pye, you’ll make £50 which is around 20%. You should be looking to pay a lot less than that if you can to maximise your gains. The Weber BBQs come up quite often, but this example is specific to the Q2200 model with stand.
Grant Signorini Thank you! Yes, at first I was willing to sell sneakers, but it’s quite difficult to come up with a decent profit margin using that. I feel like you Facebook idea is really good. Than you avoid other unnecessary fees and lots of similar sellers, as you’ve said. Have you heard of branded boxes? They sell stuff from Urban Outfiters in the box, you don’t know what’s inside but welcome to have a lucky dip for a good price. What do you think about them? It’s sort of like garage sales in US alternative.
Regarding the boxes, it’s not something I’ve come across. I think the concept is reasonable but it’s not a long term income stream that I would bank on. I really believe the best income streams are created by products or services that you’ve created. Yes, it is harder initially but that’s why the margins are better. You control supply. You can improve the product or service; and it’s within your control. I’m not there yet, but I’m working on it and will document the process so others can learn.
have you looked at buying and selling the luxury watched on there to maybe have bigger margins and make more money?
Hi, it’s not something I did, although I did consider it. It was a big capital outlay and I didn’t know that market well enough. I could’ve invested the time to learn about watches, but choose to put my time elsewhere (sports card investing)
Given you a sub, you should keep up with your videos and try and make them more frequent, would love to see your channel grow, and see how far you can get with you experimenting/success
Be carefull you will lose your money for thing. I bought stuff from Johnpye; sony wireless earphones, LG XBOOM Bluetooth speaker, 4 hair clippers, 2 Sony earbuds, a laptop and none of them are working all worth 100s of pounds.
Everything I have bought from John pye has been damaged. I’m a casual buyer. Would not recommend. EBay much better.
cheers mate. basically johnpye aint really worth the effort!
I think this answer is different for everyone. For example, if you’re unemployed and want to build up some cash, it’s good. However, if you’re time is limited, you earn a decent income and you’re trying to set up a business, it’s not worth your time as your business should yield much better returns on investment
I’d also say that if you work and want to build up wealth, a better use of time would be to really research and learn how to invest in stocks and shares, as this will yield good returns with less time required. Time is the biggest drawback for John Pye. You really want to create something where you earn money without it consuming all of your time. Take you out of the equation and you can’t earn any money on John Pye. You always need to be active to earn money.
@@GrantSignorini Hi mate. thanks for your response. yes i completely agree with you. vids like yours are great to help eliminate things like John Pye. I have a stocks and shares ISA atm but its always something ive been interested in learning and have learnt a bit about. A wealth of info out there on youtube ect about it. At the moment the best option I can see for building wealth is investing in property, which I plan to buy my first place to renovate and add value to in January. Currently working full time as a junior architect and the best way I'm finding to make money outside of work is to do private architectural jobs in my own time and I can use all of my work computer, software etc so don't have any overheads.
Awful sound
Honest review 🫡