Showing posts with label hustling. Show all posts
Showing posts with label hustling. Show all posts
Oct 17, 2013
Movin On Up...
I am thinking I should start updating this blog again. About 3 months ago I started a stall at a local vintage market. It all started with trying to declutter. I have so much old junk that I needed a way to get rid of it. I don't like throwing things away, and I am good at finding things "worth" something, so I decided a stall would be a good way to go. It took awhile to fill a stall, but it's starting to look quite packed.
The main things I've been selling are not what I would have first expected. Things like west german pottery and vintage cameras have been selling quite slowly. Some big sellers have been denim jackets, shoes (from vans to docs) and books! I didn't actually think anyone bought books anymore, but if you find the right one, I guess people still do (I buy books, but I'm a hoarder!)
Anything NBA related also sells. But then, some things have also been getting stolen! I luckily started putting magnetic tags on most of my clothing, but before then a few tees and jackets walked out. I can't understand what type of person would steal from a vintage market, it seems really low. Especially when the product isn't being mass produced, it's hand picked and flipped. It might be one of a kind. If I saw anyone wearing the stolen tees and jackets, I would know straight away, becaue they are vintage and not made anymore. I'd probably punch them - I've considered putting something along those lines on a sign in my stall.
Its been interesting so far, and it's something I'd like to eventually do full time. I just wish I'd gotten into it earlier. The best part about it is I get to op shop now with less guilt. There's nothing more fun than finding something cheap and flipping it for 10x the price.
Aug 20, 2012
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.
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.
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