To Open An E-Bay Store Or Not?????
thedutymon
Posts: 4,323 ✭
Good day,
After much deliberation, hand wringing, debate with myself, and arguments with me, I have decided to possibly open an E-Bay Store. To understand my hesitation one must understand I never got back into collecting cards back in the late 90's to make any money, but soon realized that if I was to aquire the stuff I really wanted I needed to at least offset some of the out of pocket expenses.
So in 1997 I started selling as well as buying on E-bay. 2800 Feedbacks later, over 5000 auctions, over 5,000 cards submitted to PSA, ect. ect. I am at the point where this little side hobby deal is taking way to much time. Yesterday is a prime example and maybe more of a worse case scenario but still happens quite often.
Sunday
1. Scanning cards to put in next couple of hundred auctions 2.5 hours
2. Packaging, doing order Submission forms for 3 different submissions, one 14 pack pack Sub, one modern special 37 card, and one 100 card vintage bulk. All told 2.5 hours
3. Packaging up auction wins for buyers from last three days been out of town, 27 packages 2 hours
4. Opening, checking in, sorting, storing by predetermined type of card, total 7 packages 1.5 hours
5. Cruising E-bay to look for stuff to buy and listing 50+ Auctions 3 hours
So yesterday I spent a total of 11.5 hours on cards. If the wife and two boys weren't at Boy Scout camp for the week I would have never had the time.
So my question for you all who have done the store thing is, how much will having the store save on the above items. Granted I rarely get a whole day to work on cards like this. And is opening a Store the right move? I currently list about 75-125 items per week. I bring in average $200-$700 per week. It really varys that much depending on what I have to sell. I send on average 30-50 packages per week. I currently don't use Turbo lister because one time a long time ago, when I checked into it, I did not want all my auctions ending at the same time.
So any advice from you guy's who operate stores would be greatly appreciated.
Thanks
Neil
-------------------------
Actually Collect Non Sport, but am just so full of myself I post all over the place !!!!!!!
After much deliberation, hand wringing, debate with myself, and arguments with me, I have decided to possibly open an E-Bay Store. To understand my hesitation one must understand I never got back into collecting cards back in the late 90's to make any money, but soon realized that if I was to aquire the stuff I really wanted I needed to at least offset some of the out of pocket expenses.
So in 1997 I started selling as well as buying on E-bay. 2800 Feedbacks later, over 5000 auctions, over 5,000 cards submitted to PSA, ect. ect. I am at the point where this little side hobby deal is taking way to much time. Yesterday is a prime example and maybe more of a worse case scenario but still happens quite often.
Sunday
1. Scanning cards to put in next couple of hundred auctions 2.5 hours
2. Packaging, doing order Submission forms for 3 different submissions, one 14 pack pack Sub, one modern special 37 card, and one 100 card vintage bulk. All told 2.5 hours
3. Packaging up auction wins for buyers from last three days been out of town, 27 packages 2 hours
4. Opening, checking in, sorting, storing by predetermined type of card, total 7 packages 1.5 hours
5. Cruising E-bay to look for stuff to buy and listing 50+ Auctions 3 hours
So yesterday I spent a total of 11.5 hours on cards. If the wife and two boys weren't at Boy Scout camp for the week I would have never had the time.
So my question for you all who have done the store thing is, how much will having the store save on the above items. Granted I rarely get a whole day to work on cards like this. And is opening a Store the right move? I currently list about 75-125 items per week. I bring in average $200-$700 per week. It really varys that much depending on what I have to sell. I send on average 30-50 packages per week. I currently don't use Turbo lister because one time a long time ago, when I checked into it, I did not want all my auctions ending at the same time.
So any advice from you guy's who operate stores would be greatly appreciated.
Thanks
Neil
-------------------------
Actually Collect Non Sport, but am just so full of myself I post all over the place !!!!!!!
Actually Collect Non Sport, but am just so full of myself I post all over the place !!!!!!!
0
Comments
It does, however, give you the flexibility to list whenever you want and it will automatically relist items that do not sell which will save you time there.
Even though you pay a higher FVF, your listing fee is considerably lower. I would reccomend selling your "least likely to sell at auction items" in your store and sell your higher demand items auction style since they are more likely to get higher bids and you dont want the higher FVF on it.
I always use turbo lister because you can create listings when you have free time and post them when you want. You could post them to end at different times too. I have virtually no free time either so you have make every second count.
Collect Auctions
<< <i>I have an ebay store for which I use to sell lower dollar cards that may never sell at auction, but for a couple cents a month, might get the right person at the right time. You certainly wont be cutting down on your packaging times and you will have more erratic sales. Some days I sell 2 or 3 items that have been listed for months.
It does, however, give you the flexibility to list whenever you want and it will automatically relist items that do not sell which will save you time there.
Even though you pay a higher FVF, your listing fee is considerably lower. I would reccomend selling your "least likely to sell at auction items" in your store and sell your higher demand items auction style since they are more likely to get higher bids and you dont want the higher FVF on it. >>
I agree. I list tons of stuff that probably would not get a regular auction hit.
Some guys comes along and buys like 10 things at once so he can get a deal on combined shipping.
Great way to move lower end stuff, that people want, but cannot necessarily find on auction.
There are other sites that offer "free" stores, but the traffic is absent.
Stores do not work without the use of some CORE listings to drive traffic
into the stores. 2% is about the minimum number of COREs required,
on a constant basis.
The BETA version of the likely XMAS-time USA scheme is now in play on
EBAY Italy. If you have a translator program, or read Italian, you can see
that fixed-price is where EBAY plans to go.
Critical-mass in an EBAY store kicks in at 100 unique items. Traffic/sales
go parabolic above 1500 unique items, and this number can generate sales
that may or may NOT contribute to profitability, BUT WILL defintely
increase the workload of the operator; packing/shipping/listing time
reductions/increases must be calculated when determining TRUE profitablity.
Because stores are "cheap," they are currently best used as warehouses
from which to move product into CORE. Under the Italian scheme, store
inventory is being tested under TWO formats. About half of the participants
have NO store searchability and lower listing fees; the OTHER half has
full searchability, CORE integration, and higher fees.
Stores market best to buyers whith VERY sophisticated search practices.
To novice searchers, stores are essentially invisible, under the CURRENT
EBAY.US scheme. That will change under the new scheme.
Because of seasonal shopping-patterns, the viability of ANY store cannot
be determined in less than 12-months. "Trying" it out for a few months
will not give an accurate view of success/failiure.
Even the worst store is open 24/7. That is ALMOST guaranteed to allow
a store to pay its rent from sales/profits. The risk of loss is generally
limited to time spent.
The best stores are used to drive shoppers OFF of EBAY and into the
operators' own website. The loophole in the "no links" policy that has
allowed this will be closed by the end of summer. The work-around is
to name the store THE SAME as the website.
I have no reservations about recommending that folks give EBAY stores a try.
.....................................
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If this stuff keeps up, the RICO enterprise that EBAY has become will preclude
ALL of us from doing any business on EBAY; and MANY of their execs will be in
prison.
RICO
I do not really care if anything sells out of my store. I like the idea that I have the listing all set to go, and when I am ready to move it to a core position (auction or fixed price), one click and it is done. The cool thing is I still sell a few things out of the store every month, usually 6-12 items totalling about $1000 (out of about 200-300 listings). My store prices are at full retail, so the return is better than the core listings. Ussually people that buy from the store are filling the last few spaces in their collection or are looking for a hard to find item that is not around all the time. Often I will get someone who will ask me to discount the price, and if I have the room I will sell the item through the "make an offer" feature.
The bottom line is, stores are a great suppliment to your core listings. They are not a replacement. Stores are on the bottom of the ebay search engine (enough said). The best investment is the basic store, there is no need to upgrade.
Lastly, to address your question about time saving. Once you put something in your store, you can forget about it. You do not have to relist it, or change the listing number. Just write it up, submit it, and forget about it. I often sell items, that I listed 3 years ago. A huge time saver.
<< <i>......The cost of housing an item there is only 5-10 cents a month........ >>
And a set monthly fee, right?
<< <i>
<< <i>......The cost of housing an item there is only 5-10 cents a month........ >>
And a set monthly fee, right? >>
$15.95 a month I think
I've had a store for 2+ years and would recommend it (especially for higher dollar material)
<< <i>
<< <i>......The cost of housing an item there is only 5-10 cents a month........ >>
And a set monthly fee, right? >>
Yes you are right. It used to be about $9.99 a month, but is probably much higher now ( i have not checked lately). You need to carry enough inventory to offset that cost. Sorry, I forgot to mention that.
Thanks everybody for your input. I think you have all confirmed to me what I was thinking, that at this time it makes no sense to Not have a store. So I will be sitting down Sat to start the process. I wonder how much of a headache that will be??
Thanks again All
Neil
<< <i>The BETA version of the likely XMAS-time USA scheme is now in play on Ebay Italy...You can see that fixed price is where Ebay plans to go. >>
Storm - I know you're way ahead of the learning curve on Ebay trends. Do you foresee them entirely doing away with the auction-style format, and if so, would that actually happen by early '09?
Like Lee, I had a store and I don't have time over the summer, when I'm outside shooting. I open it over the winter months and do well.
Another point, there are buyers that only buy at auction and there are buyers that only buy in stores, so you get exposure in your store to a whole new crowd. Also, I often get guys buying an auction item and then going through the store to save shipping.
I think you need new items to make a store work. Fresh items are the key. I typically would post items in the store for 30 days with a above-average BIN and then if they don't sell in 30 days...run them on auction. Keep trying to turn everything in 30 days.
Turnover is key. I would say it takes about +50 items/$2000 month to make it work.
Mike
Kirby Puckett Master Set
Collect Auctions
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EBAY says, "No."
It is not possible to determine revenue percentages from auctions/fixed-price
by reading SEC filings. But, EBAY acknowledges that sometime in 2008 "sales"
between the two formats will likely reach 50/50.
Once you have that parity, it is easier to speculate that FP will bring higher
profits to EBAY than auctions. (Complicated turnover ratios indicate that the
increased profitability will be VERY substantial. The AMZN-model confirms the
math.)
Commodity items are not suited for auction sales; collectibles are. Historically,
this has been true because we know what a "commodity" is worth, but the
market "must" set prices on scarce/rare/unique items. With the serious volume
of price/sales data that we NOW have on most collectibles, auctions become
less efficient.......and, much less necessary.
Auctions are "fun" for buyers, but often not profitable for sellers, AND not
nearly as profitable for EBAY as the AMZN-model says fixed-price will be.
Also, the fad-factor among buyers is in steep decline. If neither consumers
nor EBAY and its sellers favor auctions, then auctions will be displaced.
A partially-integrated - or perhaps totally segregated - EBAY site for auctions
is the most likely end game.
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Many/most sellers who frequent this board are "pro-auction." It has always
worked well for them, and they do not want to change what works. Properly
managed BINs are just as successful and can be VERY profitable. High-BINs
with gradually declining prices during the course of a listing usually garner
sellers the same or higher end-prices as those delivered by auctions.
MANY sellers have tired of "selling" their collectible items cheap. Such sellers
have plenty of money and are ONLY interested in playing the EBAY game IF
they can make MORE money; they do not want to give stuff away AND pay
EBAY to do it. BINs are moving into favor with that group of sellers.
"Amazon-Lite" is the EBAY game plan. Auctions are backburner contributors to
the money pie that EBAY thinks it can bake.
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On a related subject: Security At EBAY........
auctionbytes.com and other online-retail watchers culled the following from
some of the pending lawsuits against EBAY:
EBAY spends $20-Million a year on "site security." This includes tech support
and Trust&Safety Dept costs.
To put that number into perspective:
If you had a business that earns revenues of $800,000 per year, and wanted
to spend the same percentage on securing your business that EBAY spends on
theirs, YOUR security costs would be $2,000.00 per year.
If you had a business that earns revenues of $8,000,000 per year, and wanted
to spend the same percentage on securing your business that EBAY spends on
theirs, YOUR security costs would be $20,000.00 per year.
If buyers and sellers are not made much more secure in their EBAY commerce,
whether or not we have auctions is very likely to become a moot question. EBAY
will simply be consigned to the junk pile and buyers/sellers will go elsewhere.
While EBAY struggles to record any growth at all, online commerce scores double
digit growth, quarter after quarter.
BOTTOM LINE: Build your own websites and leave the corrupt dinosaur in the dirt.
Topps Heritage 2001-Now
Topps Heritage Blue Autos (2016-2022)
<< <i>"...Do you foresee them entirely doing away with the auction-style format, and if so, would that actually happen by early '09?.."
///////////////////////////////////////////////
EBAY says, "No."
It is not possible to determine revenue percentages from auctions/fixed-price
by reading SEC filings. But, EBAY acknowledges that sometime in 2008 "sales"
between the two formats will likely reach 50/50.
Once you have that parity, it is easier to speculate that FP will bring higher
profits to EBAY than auctions. (Complicated turnover ratios indicate that the
increased profitability will be VERY substantial. The AMZN-model confirms the
math.)
Commodity items are not suited for auction sales; collectibles are. Historically,
this has been true because we know what a "commodity" is worth, but the
market "must" set prices on scarce/rare/unique items. With the serious volume
of price/sales data that we NOW have on most collectibles, auctions become
less efficient.......and, much less necessary.
Auctions are "fun" for buyers, but often not profitable for sellers, AND not
nearly as profitable for EBAY as the AMZN-model says fixed-price will be.
Also, the fad-factor among buyers is in steep decline. If neither consumers
nor EBAY and its sellers favor auctions, then auctions will be displaced.
A partially-integrated - or perhaps totally segregated - EBAY site for auctions
is the most likely end game.
//////////////////////////////////////
/////////////////////////////////////
Many/most sellers who frequent this board are "pro-auction." It has always
worked well for them, and they do not want to change what works. Properly
managed BINs are just as successful and can be VERY profitable. High-BINs
with gradually declining prices during the course of a listing usually garner
sellers the same or higher end-prices as those delivered by auctions.
MANY sellers have tired of "selling" their collectible items cheap. Such sellers
have plenty of money and are ONLY interested in playing the EBAY game IF
they can make MORE money; they do not want to give stuff away AND pay
EBAY to do it. BINs are moving into favor with that group of sellers.
"Amazon-Lite" is the EBAY game plan. Auctions are backburner contributors to
the money pie that EBAY thinks it can bake.
////////////////////////
///////////////////////
On a related subject: Security At EBAY........
auctionbytes.com and other online-retail watchers culled the following from
some of the pending lawsuits against EBAY:
EBAY spends $20-Million a year on "site security." This includes tech support
and Trust&Safety Dept costs.
To put that number into perspective:
If you had a business that earns revenues of $800,000 per year, and wanted
to spend the same percentage on securing your business that EBAY spends on
theirs, YOUR security costs would be $2,000.00 per year.
If you had a business that earns revenues of $8,000,000 per year, and wanted
to spend the same percentage on securing your business that EBAY spends on
theirs, YOUR security costs would be $20,000.00 per year.
If buyers and sellers are not made much more secure in their EBAY commerce,
whether or not we have auctions is very likely to become a moot question. EBAY
will simply be consigned to the junk pile and buyers/sellers will go elsewhere.
While EBAY struggles to record any growth at all, online commerce scores double
digit growth, quarter after quarter.
BOTTOM LINE: Build your own websites and leave the corrupt dinosaur in the dirt. >>
Ebay needs to keep regular auctions - that is where many buy inventory cheaply and put into their stores. if regular auctions go away then many ebay stores would also close
into their stores. if regular auctions go away then many ebay stores would also close."
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Likely some merit to that.
EBAY does not see it, though.
Being/Beating AMZN is virtually the entire focus at EBAY.
As ALL store-owners know, MANY buyers just want to buy the stuff
and get it asap. They are not really interested in waiting seven-days
to find out if they have to start over with their shopping.
EBAY could easily spin a new site for collectibles ONLY that handled
both auctions and fixed-price items. Such a move would, however,
be an afterthought to the primary goal of listing more Chi-Com
garbage than any other online retail site.
It's important to remember when proclaiming auctions a "good earner"
for site owners, that YHOO lost a fortune trying to be a player. Most
big corps went to school on that recent lesson.
<< <i>The best thing about the store is that you have all the inventory there, sorted, scanned, described. So if you decide to move a bunch of stuff or to buy something big you can just send some big or small items to auction and it takes zero time. >>
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The Italian BETA views stores exactly that way. Online Warehouse, and Online Stockroom
The USA model will likely follow, but the emphasis will be on moving stuff to BIN in CORE.
Couple of more questions. Does it really matter in the big picture what you name your store? I have several very rough ideas:
The Dutymon's Non Sports Card Oasis
PSA Non Sport Card Depot (Can you use PSA in the Name?)
The Non Sports Card Arena
The Sport and Non Sport Card Depot
The Non Sport Card Collectors Shop
Shop Non Sport Cards
The Non Sport Card Collector
Neil's Vintage Non Sport Cards
The Sport & Non Sports Cards Vintage Shop
Ect....Ect...
Does it really Matter?
How long (Hours) does it take to set up a new Shop with say 200 new items to list?
What other details should I have decided before I do this?
Thanks
Neil
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The name should match your registered domain name.
If you don't have one, get it before you name the store.
Buy a professional logo, and use it in your store/listings/invoices.
You can buy a nice one on EBAY for much less than $30. Takes
a couple days to get it emailed to you. (Don't use a stock or
amateur logo.)
Using Turbo-Lister, you should be able to set up your store in
less than one workday.
After your store is up, use Store-Connector to upload your
inventory to google-base. MOST of your initial sales will come
from gb.
vintagenonsportscards would work, if it's available.
Leave out the word "the" in whatever name you shoose.
Thanks all for your help, more questions, I have never registered anything, anywhere, ever. When I do a Internet search for Register Domain Name, I get like so many different sites. What do I do? By the way the three top sites say Vintagenonsportscards is taken and want around $35 for variations on this? Is this right?
Thanks
Neil