Make This 1 Change To How You Source To Increase Profits
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- Опубліковано 18 жов 2024
- In the reselling world we villainize people who make low offers. Many of these “lowballers” are just trying to get a deal. But if you think about it, if you make money on the buy then most resellers need to adopt this “lowballer” mindset to lower their cost of goods. By doing this you give yourself more options to get the sale versus paying full asking price for that same item. So yes, I am a lowballer and based on my numbers, my business is proud of it.
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Let me add that there are some situations where this doesnt apply, maybe you have an opportunity to pick up a consistent supplier or maybe you know the person doing the sale. But lets be honest. Most yard sale/flea market situations are one offs where you dont know the person and the transaction will not have a long term affect on your business after the sale.
In this video just like with others, I offer up an honest statement of what I do and why. If you are paying full price or even paying more at one off yard sales then you are losing money in the long haul over time. It is just simple math. This works well for me and I am making money on the platform. It is your business and each person has to decide the tact they take when sourcing. This is just how I do it.
A low baller is a person who wants your item for a Dollar with Free Shipping. 😅
My father always said: "An item is worth what someone is willing to pay for it". If they want it bad enough, they will give a seller a "Fair, reasonable offer", not some miserly price that is just downright insulting.. Just apeaking for myself: I'm no desperado, and I'm not giving it away for free. eBay takes enough with fees as it is. :(
Your father is alpha
I only make one way offers to buyers, but occasionally negotiate, when a potential buyer appears serious.
How low will I go, when I need to liquidate ?
Not as low as I used to.
Sometimes the dumpster or donation is actually a better option.
I cannot stand sellers who get offended when they are “lowballed”. Like just say no. That’s why so many people fail at business to. They get to emotionally invested in the items they have for sale. Great vid!
Thank you. Many of these sellers actually hate this video. lol
I have found if someone really wants something they will pay more money for it. Low ballers are just trying to see what kind of deal they can get but they do not REALLY want the item.
There are resellers on Ebay and then there are sellers on ebay. Big sellers tend to not allow offers and you'll notice that they will put their store on time away during the weekends.
Some sellers only use offers as a tool, but don't actually accept offers at all. Offers are good for some sellers, but sellers that are very busy they might not be so good.
I use offers as a vetting process and I have auto decline set-up. I don't even see offers that are less than 10% of the asking price. I have a 3 car garage, a full basement and an extra 3 rooms in my home, so I don't really have to accept any lowball offers.
My question is why would a seller even see a dollar offer on an one hundred dollar item, it seems to be a waste of time even opening up a message of a $1 offer?
I hear ya on that. And I also get the were trying to buy as low as we can. I'm not here to loose money. Example movies.. I know are low for selling as I bought into them when they were going high and bottomed out. But I'm not taking 1 or 2 dollars for a movie just to make a sale. And even the counter offer goes up 25 cents or 50 cents... for movies if I make atleas 1 dollar in profit after sales taxes fees and shipping. But I'm for making offers and getting good offers.
Yet there have been times I have received that low ball offer you are referring to and end up making a sale. Not often at all but it happens. Anytime you have a chance to interact with a potential customer you should do so since we are only talking about a minute or two of your time.
@@FlippinAintEasy Ebay has an auto decline feature. There's no since in allowing lowball offers unless your item is a dog item. Most successful sellers don't use "Best Offer" because they don't need it. Besides, seconds add up to minutes, minutes add up to hours, and days eventually add up to years until there's no days left.
I'm not saying best offer is wrong for flippers, but not needed as much for sellers like myself. I'm a seller/reseller and I don't need to compete like flippers need to. There's no best way to do Ebay outside of following Ebay's policies. People can do what makes them happy, but that does not mean their ways are the best for people like me.
There's 3 kinds of Ebayers: Sellers, Resellers, and Flippers.
@@semperfi-1918 You don't need to accept lowball offers. There's many things you can do to max your profits and that's the single best thing about selling on Ebay. On Ebay you can easily separate yourself from the competition.
I feel any offer lower than 25% should be automatically declined. I DO NOT low ball when I shop on eBay. But, daily we are barraged with lowball offers. The worst offer was an item that was $28 and we somehow were offered $6. I wanted to counter with "Would you like us to drive it 3 hours to you as well for free?" Resellers have time, wrapping, labels, bubble wrap, etc. all to add into the price. We do not mind combining shipping or working with Customers on items. But, be fair.
Let’s go into this because I want to understand. Why was this your initial reaction? I genuinely want to know. Is it from the disappointment of hearing that chime on the eBay app leading to a potential sale and then seeing that offer? In my case, I look at it as an opportunity which is why I don’t have auto decline turned on. I still have an outside chance of explaining my best price to the potential buyer. I would suggest using auto decline using your bottom line to avoid these situations. But I honestly do want to know your thoughts on this.
Hi there! Thank you so much for this update. You just validated what I have been doing when it comes to providing responses to low offers and buying at garage sales. I always try to make a counter offers and always thank them for the consideration of my small business. It is definitely an "art of the sale".
This is a very nuanced topic. I paid higher than most for six years and because of my reputation as someone that paid well I was approached countless times with collections and sold them for lots of money. Paying poorly has hidden costs that you may never see. Reputation is king.
With that said, consider all the factors. Item size, storage requirements, condition, rarity, desirability, etc. scale your offers accordingly. If you will never return to the area, reputation matters little. Small town? It’s vital.
There are always factors that are involved. Are you trying to get into the inner circle of a potential supplier or if you know the people running the sale, maybe you’re not as aggressive or don’t ask for a lower price at all but let’s be honest. Most yard sales or flea market situations you encounter are one offs and you will never see these people again nor will they remember you. You would be surprised how many times both parties are actually happy with the sale as most sellers are trying to clean out their garage or closets.
@@FlippinAintEasy I actually don't drive and rarely go to yard sales or thrift stores. My sourcing strategy is highly unusual. I buy nearly everything on Facebook marketplace and have it delivered to me by the seller. 0 fuel costs, 0 in car repairs, etc.
I pay higher than most so I can dominate my area as the top buyer and it works. Lots of people come straight to me and often complain about the competition. My primary niche is video games.
By paying higher the inventory comes to me, often very desirable items. I usually take everything and of course, I do pay a lot less for the filler. My reputation in the area is very good and people sometimes donate me things to sell. I never hide what I'm doing and many people consider me a source of cash when they need it.
This is not to say that my method is the best but it works really well for me and I am able to help community members regularly as everyone needs cash nowadays. If I were to lowball I would have to completely switch sourcing strategies. Now if the circumstances call for it I will pay low, especially if the items are profitable but a lot of work or I don't particularly desire them, or if there are lots of duplicates, and so on.
As a buyer, I love to bundle large bulk deals. Usually you can throw a few hundred dollars at somebody for a lot of good value especially in a yard sale situation or I buy bulk on eBay as one way I am inventory. I’ve managed to find a few things where I could pay two dollars per unit and sell the units between 10 and $200 and you just gotta keep your eyes open for deals like that
Good reselling is knowing when a deal make sense. Low balling is basically bottom feeders. And they are usually a waste of time.
Yes, and lowballers will always find something wrong with the merchandise because of buyer's remorse.. and they are the buyers who will readily give out Negative feedack.
@@SweetThing your right about that. They just can t resist squeezing a few cents. To the level of scamming . I’m glad I never had to admit the badge of a lowballer but some like the tingle inside.
That’s why all my prices are really high because of the categories that I’m in I sell rare things and usually I’m the only person who has something available so with high prices I expect a lowball offer and I set it up so most of those offers are right in the ballpark And it works for me
Anyone who offers me less than half price gets blocked.
You are right, we are lowballers because we need the best price so we can flip. But its different to source really hard and do some fair haggling like we sellers do, and send someone "ill give you $10 thx lol" for a $1000 item. Btw I block everyone asking for discounts recently, Im just done with them.
I only have fixed price listings. I have offers turned off at all times. They still find me and make an "offer". Just a FYI for all new sellers......these lowballers are the most likely people to leave negative feedback.
This is what I've found too. Attracting bottom-of-the-barrel buyers is a recipe for complications. People unhappy with the price will often be unhappy with the item, always looking for things to complain about and ways to get discounts. I just find it to be too annoying, I'll let the competition deal with them.
I turned offers off on everything except for expensive items that I actually want to entertain offers on. I want to deal with people that have money.
Low balling may be fine if your prime source is yard sales and flea markets. Since I buy most of my product from distributors at an average $10 to $15 cost, I need to make a certain amount to make a decent profit off of most sales. By a decent profit I mean after fees, shipping, and shipping products costs. I have no problem with offers if they are reasonable. Low ballers do not bother me at all, I simple reject their offer and move on. I'll certainly consider any decent offer and thankfully I receive more of those than low ball amounts.
Can't fault anyone for offering a low price but then again you can't fault anyone for paying the full asking price and sniping it from you when you do offer lower.
No blame here
The more i make friends with the seller the better the deal, even free once in a while. They just want it gone
I find that many of these sellers are happy you’re willing to buy a large bundle of items from them as they might be more motivated by cleaning out their garage than getting top dollar.
@@FlippinAintEasy true true, my favorites are when theyre moving or, in UT in the good neighborhoods, renovations on a million dollar house.
I had to turn offers off. It just takes too much time responding to all the $10 and free shipping on that vintage Levi's jacket. I am sure you can make a few more sales but honestly if you were going to let a shirt go for $15 might as well list it closer to $15 to begin with.
I would consider turning it on for your top dollar items provided you have room in the item to do that.
Lowballers anonymous!
Completely disagree. I’ll negotiate depending on what the items are. I would never go down to $2 if they want $5 if it’s a great item. In some cases I’ve given them more money. Once I did that and found a supplier. Finding a supplier is usually what I try to do at yard sales which is why I very rarely give low ball offers. But hey more power to you I just think it not a good practice for both sides. But then again it really depends on the body language of the seller I guess
You always need to feel out the seller and the situation but let’s be honest. Most years sales situations are one offs and are not supplier opportunities. I do agree in making connections with people as you state however as for the one of yard sales if you are paying full price or giving extra money for an item it’s a fact that you are leaving money on the table and if you multiply the extra money you spend in an item over the Ms m long haul you will be surprised how much extra money you have spent which is subtracting from your overall profit margin.
Just don’t like leaving a bad taste in their mouths is all cause I’ll probably be back when they have another sale. I don’t give too much away. It doesn’t happen often. But yeah it definitely depends on how the seller is and hopefully they understand that it’s just business. My wife still low balls 🤣
@@krazykiwi33 nothing wrong with that. 😂
I block all low ballers. I’m wondering if that was you who sent me an offer for a buck on a 100 dollar item. 🤮 John I know the buy low and sell high but you’re sending it to resellers who’s trying to make a few bucks and you wanna do that. Wow not liking this video !
I don’t buy on eBay so no it wasn’t me. Not sure if you’re joking with me but there are sellers who do source on eBay. I am not one of them.