Tuesday, September 27, 2011

Inside Look at How I Price…

For the most part, I like to price similar to THIS pricing guide.  I tweak my method a little bit and price higher than she does on some clothing items.  For anything non-clothing I really just stick to the 1/3 – 1/2 new “retail” price.  When I say retail, I mean what normal people pay for things new.  If something is almost always on “sale” then I consider the sale price, not the inflated retail price that nobody ever pays anyways.

  If it is a large, popular yet hard to find item in excellent condition I will price 1/2 of retail.  Otherwise I price 1/3.  So if I’m selling THIS at a sale (working and complete with all parts) I will just type it onto the computer, research the retail price and then price it at $7.00 which is 1/3 of the new price.

I also 99% of the time discount my items.  If it’s clean, complete, and not outdated it will sell at the sale.  If it meets those three criteria and is not selling it is because you have priced the item too high.  Things are only worth what someone is willing to pay for them so 1/2 price day is humbling maybe but it’s reality and I accept that the items left for that day were overpriced and make a note of that for next sale.

The trick is to price high enough to make it worth all your hard work and effort but low enough to still be a good deal for the buyer and to be very competitive with other consignors pricing.

I just took some screen shots of my sales report so you can actually see exactly how I price:

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Saturday, September 24, 2011

The DL of my Fall 2011 Consignment Season

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Just one of MANY van loads this season!

I wanted to share some numbers for Fall 2011.  By far my favorite sale is the Just Between Friends sale here in town but so as to not overload them with all my treasures (especially clothing), I sometimes consign at another sale in town.  Here are my stats:

Trading Hands Kids Sale – Sold 259 items, 78% of what I took to the sale.

My total sales were $1,093.50

less 30% and less the $8 consignor fee my check was for $757.45. 

I know someone will ask what my “cost” was.  I do keep track of all of that but it’s a nightmare and I don’t get real down and dirty until I have to at tax time so I’ll just say that you can safely assume that my average cost per item is $1.  It’s probably less than that but I’m positive it’s not more.

So based on that assumption my profit for that sale was $500.

Just Between Friends Sale – Dropped off 880 items, sold 805 (92%).

Because of their sales report system, I get more detailed information when I’m studying my sales.  Here is how I did:

9/19/11 (24 hour volunteers shopped)

69 items sold = ECA (estimated check amount) $220.80

9/20/11 (volunteer, consignor, first time mom presales)

311 items sold = ECA $1015.75

9/21/11 (first public day)

517 = ECA $1,681.68

9/22/11 (second public day)

598 = ECA $1,977.75

9/23/11 (25% off day)

705 = ECA $2215

9/24/11 (50%) off day

805 items = ECA $2359.79

For several reasons I earn a higher percentage than what the standard sales report calculates… my check will be approx. $2,830!

So using the previous guesstimate on cost $2830 - $805 = “$2025” profit  Not bad! :)

$2500 profit from both sales is worth all of the hard work.  We are currently living off student loans while my dh attends graduate nurse anesthesia school (like med school and he’s not allowed to work) so extra money is a huge blessing around here.

Here is a picture of how much I sold of what at JBF:

297 boys clothing items = 37%

199 girls clothing items = 25%

136 toys = 17%

49 children’s dvds = 6%

40 shoes = 5%

84 other items (books, purses, costumes, baby equipment, games, toddler bed, puzzles, room decor, sports equipment, accessories) 10%

Of my 75 items that did not sell, 58% was clothing BUT that’s only 8% of the total clothing that I took… when priced right, and prepped and hung properly, clothing is very profitable at consignment sales. 

I only had 10 toy items that didn’t sell.  Toys always sell very very well at consignment sales!

If you have any more “fun” data information you might want to know, just ask.  Depending on what the question is and if I can figure it out with the info I get from the sales report, I’ll be happy to share more info.

Now it’s time to rest!  ha ha – I wish.

Wednesday, September 21, 2011

Fall 2011 Consignment Sale Haul: Part 2

This was my first time shopping a consignment sale for items to resell on eBay.  Thanks to Yard Sale Mommy for the inspiration to try it!  It was kind of fun but a little stressful because there is so much to look at and I spent a lot of time looking up toys to see what they were worth on eBay.  I was at the sale for 3.5 hours and there were so many sections I didn’t even look at because researching toys while shopping was time consuming.  I’ll do it again but I hope to learn more and more so that I just “know” what I should buy and don’t have to look it all up. 

Here is what I got:

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Fisher Price Bird Bath $5

Two Backyardigan Pablos $8 and $3

Yo Gabba Gabba Brobee $8.50 (I just happen to also have the guitar that is in the eBay listing!)

Miss Spider Buggy Bunch $10 (paid too much but I should still make a profit)

Big Bag Trackmaster Thomas Trains $16

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Large Bag Tomy Blue Tracks $5

Little Tikes Play Food $2 (I’ll save this for a larger lot)

Little Einsteins Annie Doll $3 (June was $2)

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TMX Extra Special Edition Elmo $5

Elmo Live $5

Two Brand New Little People The Inn at Bethlehem Nativity Toys $8 each

I spent $88 and according to eBay listings these items have the potential to sell for about $400… maybe with Christmas approaching a little more?!

  Let’s hope so! :)

Tuesday, September 20, 2011

Fall 2011 Consignment Sale Haul:Part 1

I shopped the earliest pre-sale last night at my local JBF consignment sale and I’m happy with what I found.

My kids DO NOT need clothes (thank you garage sales and thrift stores) so I did not even go in the clothing isles except for Baby C’s size for a few church dresses.  Patting myself on the back for that… it takes will power to not even go look at all those cute clothes!

I spent $175 on the items pictured below.  Which seemed like a lot but it’s pretty reasonable when you break it down.  I got some great stuff!

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Hot Wheels Fold Up Shark Track $9 (not a great deal but it’s a long story that has something to do with appeasing my 4 year old…)

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Blue Sparkle Justice Flats $7

Black Soda Dress Shoes $5

Brown Children’s Place Dress Shoes $8

Simple Sneakers $6

New Diadora Soccer Cleats $8.50

Walmart Red Sequin Shoes $3 (she is going to be red riding hood for Halloween so these will be perfect)

Black Black Wedge Tommy Hilfiger Mary Janes $12 (they look brand new)

So $50 for 7 pairs of nice shoes is a steal in my opinion.

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Awesome Gorilla Costume $12 (4yr old DS thinks I’m really cool now)

5 Baby Girl Dresses $20

3 Baby Winter Hats w/ mittens $6.50

Finger Puppets $2 (DD Age 7 stocking stuffer)

Big Girl Sunglasses $2 (stocking stuffer)

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Much needed items for DS Age 4 church wardrobe:

Bass Brown Loafers $5

Bass Black Loafers $5

Stride Rite Brown Shoes $2

2 Children’s Place Neck Ties $4

2 Belts (black and brown) $6

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Oh the joys of motherhood…

2 boxes of Lansinoh breast pads $4 ($8 - $10 retail each)

2 Motherhood (clean I promise) nursing bras $10 (about $25-$35 retail each)

3 pack of new wipes $3.50 (retail about $5 or $6)

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Best find…

Ergo Baby Carrier … I couldn’t even feel her weight when I tried it with her on.  Yay!

I paid $35 and it is worth every penny.

Stay tuned for my next post about the items I purchased at the sale to resell on eBay.

P.S. I also dropped 900 items off at the sale… I’ll let you know how it goes! :)