Market Flipping and Psychology.

Long time no post (yet again!)

I have been super busy lately, it feels like I never have any time to blog. I've been doing some flipping and lots and lots of op shopping - but it does feel like salvos is falling further into its trend of overpricing things and selling a lot of crap. My fav op shop now would be BSL, with vinnies second. But I still do most of my shopping at the salvos because there are more of those than anything else in Geelong, and they are closest to me.

I had a stall at the belmont market this weekend. I have been there 6-7 times now with stalls, with varying degrees of success. As anyone who goes to these sunday "car boot sale" type markets will know, people don't want to pay for anything. You really have to learn what to sell, and corner the market on things people will pay more for. I tend to focus on things I myself like (as its easier to flip what you know), instruments, camera gear, shoes, video games etc. I also do a good trade selling off nba gear. I can flip a $5 jersey into $20-30 easily at the market, cause kids walk past and badger their parents into buying it for them.

I round it out with dvds and cds, which dont sell all that well anymore. I'd like to get more into selling vinyl, but I think I would stick to dedicated vinyl swap meets for that.

I did some pretty good flips yesterday - sold a $6 pair or nike SBs for $30. Sold them to this tall guy in an iron maiden tee, listening to metal so loud on his ipad that I could hear it across the table. He seriously looked like he'd walked out of an 80s movie. Had the hair and everything.

I also sold a ukelele I bought for $3 for $10. Its all money. And it was one of those items a bunch of people came over and played with before someone finally bought it. Its good to have items like that out, even if no one buys them, they will be attracted to the stall, and may then buy something else.

I do something similar with toys. I have a bowl of random happy meal style toys and matchbox cars at the front, placed low where kids will see them. Kids come over and look and  call their parents over. This works in a similar way to how lollies are sold in checkouts. You can't beat age old business ideas.

I usually stand my ground with prices when I know the product and price is right. You can have 3 people say no and even make up bullshit reasons why they think something is priced too high. But then  someone will walk along and pay that price. People will also lowball you, and when you say no they will walk off,only to come back later and pay the higher price. You have to be good at reading just how much someone wants something. for example, I had a camera out for $20 (cost me $5) a dude who knew cameras was trying to get me down to $10 cause there was no battery in it to check the meter. I knew the camera worked and didn't budge. Later, while I was getting something to eat, my sister sold him the camera for $15. Its $5. But thats the difference between a 200% and 300% sale.

I have had people grumble, scoff and make up shit to try to get me to go lower. these people are dealers. And I deliberately dont barter with dealers. Because I know if they are buying, they are planning on making a profit. And my prices are low enough that they will make a profit even if they don't barter down.

Overall I made about $200. Enough to buy a 4 colour screen printing carousel from my friend. Which should be a source of some more money. Good times.

Video Blog #1!

Here's my first attempt at a video about my op shopping finds! enjoy. Its pretty amature but hopefully I'll improve each week!

Have Op Shops dried up?

I have been hearing and reading lately that op shops have "dried up" over the last few months. with higher prices and not as much quality around.

Has anyone else noticed this? I feel like Salvos has been really overpriced lately, and I went to Dandenong savers on the weekend and it had a really "picked over" feel compared to usual. I almost always come out of there with heaps of stuff.

Maybe I am just getting pickier? Or maybe i was spoiled by last spring (spring always seems to be the best season for vintage loads of good vintage gear).

A friend of mine suggested it will get better when the uni kids go back to school, I think school holidays have definitely left the op shops looking a bit bare. Or maybe everyone has gotten so poor that they op shop. The op shopping trend is reaching critical mass. There are just too many people picking through the stores and leaving no goodies for me!

Or maybe its just time to look for some different stuff? I have found a few good things the last couple of weeks but nothing like the finds back in the day. Been quite awhile since ive picked up a good camera, too. Though I did find a ps2 with cords for $8 today, so maybe I'm just being a bit of a sook.

I miss the days of finding boxed nintendos and 64s bundled with zelda for $10 and an om2n with a 1.4 zuiko lens for $5!

Shake it

Today at the op shop I found a salt and pepper shaker. I liked the design and it was only two dollars. Its a little stainless steel set. I looked up the name on the bottom and was pretty surprised to find this. I can't believe it, $46! What a great find! Proves I am right to trust my eye.