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How To Price Items Online – Competition Based Pricing (Part 4)

 

How To Price Items Online

Today I’m going to show you how I started shopping at Goodwill, flipping those items online for cash and eventually made enough money to turn my side hustle into a full-time career. If you’re looking for some extra cash and want to get started with items you may already have around the house, then this is for you.

 

Let’s Get Started

Monopoly Junior, my first Monopoly game. Whenever I’m looking for stuff to sell on eBay or Amazon, I always look for things that have barcodes. One of the things I got was Monopoly Junior. I paid $2.92 for this, and I took the USB and I plugged it in on Amazon. I’m also going to put this into eBay and see what eBay comes up with. I try and go by the USB because it’s usually quick and easy. Free shipping on orders over $9.99. Monopoly Junior game, $18.99. The other thing is to view sold listings. Sold is what you care about because you want to know what sold. If it hasn’t sold, you don’t know what it’s worth. If it sold, it means somebody paid that for the item that you’re going to sell.

We know that somebody paid $9.99. It’s trending at $13.49. There was a Monopoly Junior board game with four adorable character … I don’t know what that is. It’s the same thing. People describe it different. This is what you do. You go find whoever has sold this for the highest price the most recently, and you copy their listing to the best of your ability. I’m sure you can look at it and think, “Okay, I can do this a little bit better.” If it was me, I would put a video because nobody else says videos. You can see what this is going for.

Honestly, I would pick like the top two or three sold and copy off those. What you do is you just list it up there and see if people are buying it. If not, check it in a couple days and lower the price. It’s kind of like a play-around thing. Somebody sold this for $46. It could be you if at that time you’re the only person selling it because it looks like there was one listed on December 5th, and there was one listed on December 10th after that. December 9th, he may have been the only person listing it, especially a Buy It Now, and December 9th, you’re before Christmas, so somebody may have paid that for it. You don’t know, it’s supply and demand.
Cartridges, we paid $5.

There were more there, but I couldn’t tell if some of them were opened, but these weren’t opened. Print cartridges, don’t ever buy them if they’re open, but  supplies, we paid $4.94 for these. Ink cartridges, you used to be able to sell them on Amazon really easy, and you can’t do it as easy as before. Model numbers are really important, so name brand, model number whatever it is you’re look at, apply that. For this one it says for use in HP Color Laser Jet Pro, so this is a comparable model. For something like this only because me … I sold on Amazon for a while, so I know they changed their rules on printer ink. I would sell this on eBay. This is the color cartridge, magenta. This is the cyan. We have the cyan and we have the magenta cartridge.

Okay, they’re like $50 a piece. Sometimes you have to do a little bit of a Google search for these.  On Amazon they sold a set of four for $142.99. My assumption would be that one cartridge goes for $80. I think you could put these up there for $50 a piece. I’m going to try that. I mean, dang. We only paid $5 for these.

You have to play around with this. It takes learning, but it’s whatever. This thing-a-ma-jig, I paid $1 I think for this, and it’s on here for … The cheapest I see is $10, and if we were to put this into Amazon … Okay, so this thing looks like it’s missing its jacket, but you could still sell it. I mean, with the jacket on Amazon it’s $72. On eBay … Like I said, eBay’s cheaper. You got to weight your options on them, but Mattel $70, Fisher Price … There’s not many listed on eBay which I would think could mean you might be able to sell them a little bit better. Sixty, $70 … People are selling these for $70 on the internet. I’m going to list it as maybe for $70. Maybe $50, but … Yours doesn’t have a jacket, so I would start with maybe $60 and go down…. Would go into the Amazon Seller app. Okay, so scan … I’m going to make $7 off this. There’s going to be a $5.49 shipping credit. It’s new. It cost me $2.92. They’re giving me a shipping credit. I’ll just continue and see where … This is how crazy this is, honestly.

 


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