Thursday, March 19, 2015

Pricing Our Inventory

 
Wow...posting 2 days in a row.....woo hoo! Anyway, I sold 2 items on eBay since yesterday's post so I thought I'd share. My family has been really helpful since my husband lost his good paying job a couple of years ago. He is working but probably for half the pay he used to get. Soooo, my oldest daughter who is out on her own will find things for me to sell from time to time to help us out. A lady she cleans for gave her 3 fur coats that she didn't want anymore. They wouldn't fit my daughter or me so I'm selling them. I don't know ANYTHING about fur coats! This one didn't have any markings or tags on it to say what kind of fur it is. Winter is almost over. I sold it cheap. I researched some coats and a lot sell for more, some sell for less. I don't want these hanging around all summer and we need the money. Sometimes we might wonder why someone prices their items for less than what we think they might be able to get. I think each of us has our own unique set of circumstances that plays a part in our pricing strategy. I only have about 280 items in my eBay store so far. We need the income and usually sooner is better than later! I think if you have a lot more items in your store, then you probably have the luxury of being able to price higher because you have so many things to sell that usually something is always selling and therefore you have money coming in consistently. Until I get more inventory, I feel like I'm doing the best I can. If I find out that this coat would be worth hundreds because it's a special fur then yes, I will feel sick about it! :) In the meantime, I hope the other 2 sell just as fast as this one! I listed all 3 last night.
 
Fur Coat
From my daughter - Sold for $29.95 - Profit $26.63
 
My sister Naomi has been really helpful in finding items for me to sell too. (Thank you Naomi!) She found 4 pair of these EMT Tacticle Pants for women and this is the 2nd pair I've sold.

EMT Pants
From my sister - Sold for $17.50 - Profit $13.46
 
Okay, thinking about it...I'm going to show the other 2 fur coats just in case any of you might be able to help me out as to what kind they are!
 


Thanks for stopping by! ~~Pam




 

16 comments:

  1. Sorry I know nothing, but they are cool! Have you "googled" the manufacturer names? Might help.

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    1. Yes, I did google them. One is even just 30 miles from here but they don't have a website! Thanks for your comment! ~~Pam

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  2. First, I love the length of those coats! And I totally agree with you on circumstances in pricing strategy! A lot of sellers will say "don't leave money on the table" or "you hurt us all by pricing too low". (This happens a lot in the craft show circuit too.) I say, mind your business and I'll mind mine. I price solely on my needs, wants, research, and circumstances not anyone else's. So if you got the price you wanted Pam - good.for.you!

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    1. Thank you so much Ree Cee! Yes, we all have reasons why we do the things we do! ~~Pam

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  3. I see the links on your side bar for your Etsy shops but where is the link for your EBAY store?

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    1. Kim, I did have some kind of widget thing showing my eBay store for awhile but it seemed to always be down or something...anyway, I added a different thing on the right side that shows what's for sale in my store. If you click on one of those it will take you to that listing and then you can find my store from there. Thanks for your comment! ~~Pam

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  4. I picked up some fur coats at an estate sale and was like you and didn't have a clue what kind of fur they were...just fur. I googled how to tell what kind of fur i fur coats and got a really helpful comparison article with pictures. I didn't bookmark so I can't remember the exact phrase I searched but try something like that and you may be able to figure out the type of fur. Hope this helps

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  5. I believe the first coat was mink (that's probably why you sold it so quickly), The second looks like it might be seal (without seeing and touching the furs I can't be sure) and the third looks to be beaver (gain these are just guesses). I'm not an expert, I've just had a few fur coats in my time. Hope this helps. Maybe you could ask the original owner. Good luck with your sells. I know money is tough to come by in our home too.

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    1. Thank you for the info and for your comment!

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  6. I agree with you on the pricing stragedy too, I price based on how quick we need the money & how slow or busy my sales are at the time. If sales are a bit slower I may price a bit lower to intice a sale. Our situation is a little like yours, I was the one who lost my job a few years ago. Hubby has a job with decent benefits but the pay is not great. I sell to bring in some income so hopefully I don't have to go back to work outside the house. So far it works for us but I need the sales to continue to be able to stay home so I price according to that. I hope your sales pick up & you do well with the coats.
    Rhonda

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    1. Thanks Rhonda! It's nice to know someone else thinks the same as I do! :) ~~Pam

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  7. Hey Pam, you are right. We all have to do what's right. I actually have a poop load of inventory that I bought about 4 years ago when I first got into this business. I'm sure some of it won't go for what I'm pricing things at right now. But I cannot just redonate it and will be listing it slowly. And if I can make a few bucks off of it, than I'll be happy.

    Regarding your furs, I'm not sure it's been mentioned. But I would sell these at auction. Start the bidding and your BIN price and see if there's someone that's willing to pay a little more. This way you might make a bit more for them. Just an idea. Good Luck!

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    1. Thanks Margaret! That's a good idea! I actually just put all of my winter clothing on sale for a few days but I think I will do an auction on them after that if they don't sell...thanks! ~~Pam

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  8. I hope they sell quickly too! I am a big believer in the "bird in the hand" way of selling too.

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