When selling on eBay, my official motto is to “Flip an item as fast as possible,” but in some cases, it may pay to be patient. You may have an item that is easy to find right now, but it could be seasonal. When the supply dries out, the profit should go up, right? That’s not true in all cases, but if you do your research, you could walk away with much more money!
Let us take a look at a recent purchase I made. Not too long ago, I was walking through a store with my wife when I found a huge lot of FrankenBerry cereal on clearance for $1. This typically is a Halloween item, but since the holiday was over, the store seemed to think that the demand would go down. I pulled out my handy smartphone and checked the completed listings on eBay. I wasn’t that thrilled with the results so I kept on walking. Then it hit me – clearance items usually mean that the stock will be gone soon. So, the true FrankenBerry fans will be out of luck, and with supply & demand, I’d more than likely be able to make a profit. Instead of listening to my instinct, I pulled up one of my new favorite apps, Terapeak. I was able to see that I was right; a few months after Halloween, each box spiked to between $5.50 – $9 a box. So, against my wife’s wishes, I bought all 120 boxes for $1 each (at Target)
It’s not like these are selling like crazy on eBay, so I had to develop a strategy to sell these before August 2017 (that’s when they expire). Here is what I found:
- They are selling better in the United Kingdom than in the United States, so I decided to add UK visibility to my listing.
- The current average sale price right now is $5.99 with $16.50 shipping to the UK, so I decided to sell them now for that amount. According to USPS, it will only cost $12.50 to ship the box there – that will leave me a profit of $5.37 per box.
- According to Terapeak, this number will grow throughout the year, so even if I only make $5.37 per box, I will have made a $644 profit on FrankenBerry cereal.
- I am using more sources than eBay to sell this product (Amazon).
- If all else fails, I have a lot of FrankenBerry to eat.
Thanks to TeraPeak, in this case, I have the knowledge that my product will probably sell for more in a few months, but since I have so many boxes, I think I am going to start selling them now. If you have never used TeraPeak before, I suggest you at least check it out.
Have you ever had an item that you sat on for awhile to make more money later on? If so, what was it and was it worth it? Lastly, please subscribe to this blog for more updates :).