Blog Archives

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A word on recent events

My heart goes out to everyone affected by the recent tragedy in Boston.

It is absolutely unacceptable when children and adults are at risk of injury or worse when they’re simply out enjoying a public activity. And to add insult to injury, there are now people out there trying to make money off of these types of horrific events. If you check eBay, and probably many other sites as well, there are people trying to sell items and memorabilia from the marathon for no reason other than to make some fast cash off of the misery of others.

A screen shot of the various items for sale on eBay after the 2013 Boston Marathon.

This is by no means a new practice. The selling of events tied to notorious individuals and tragic events has been around for as long as these tragedies have existed. The first time I encountered this type of behavior was when was filming a show for PBS that featured murder memorabilia. I wasn’t particularly excited to feature this type of item, but after researching the topic, I felt it was necessary to really show the public all the details of people profiting from the downfall of others. During the show, we displayed items from John Wayne Gacy, who at the time was one of the most notorious serial killers the country had seen. Before conviction, he was known to dress up as a clown for various fundraising events, and after his sentencing, he created and sold various clown paintings. These pieces were collected by well-known, prominent people as well as your every day citizen. People spent up to tens of thousands of dollars to buy these pieces, simply because he was such a notorious figure.

One of the more well-known paintings from John Wayne Gacy.

I once had someone offer to sell me a yearbook signed by Eric Harris and Dylan Klebold, the two students responsible for the Columbine High School shooting of 1999. The seller offered me the book for $1,000, but I would never even consider buying an item that represented such a terrible occurrence. The value of an item like this has increased only because of the memory of a horrific incident in which people lost their lives. It’s this point that makes selling these items such a terrible act.While I do not condone the sale of items whose value is tied to horrific and tragic events, I do think it’s important to discuss them so that buyers become aware that these kinds of listings exist; and they will continue to exist so long as there are buyers willing to consider purchasing such items. After the events of the Boston Marathon, these sellers have come forward, one again trying to profit off of someone’s misfortune. Please do not partake in the buying or selling of a collectible that has been given a value based on the loss of someone’s life. People will continue to exploit tragedies so long as we give them the opportunity to do so. Because of this, it’s our responsibility to turn the other way and choose not to buy such items.

Once again, to the people of Boston, my thoughts are with you.

Good luck, and happy hunting.

Aaron

 

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or contact him at thegaragesalemillionaire@gmail.com.

 

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eBay is about to get more expensive

One of the bigger venues for selling your garage sale finds is about to get a lot more costly.

Starting May 1st, eBay has decided to change their fee structure, effectively raising prices for a good chunk of their sellers. My response to eBay, “What are you thinking?”

Believe it or not, sales on eBay have actually been going down recently, in part because eBay keeps getting more expensive. Sellers are now searching out other more affordable or

even free venues in which to sell their products (ie Tag Sell It!). As affordable as these other options may be, what if you just aren’t yet ready to give up your eBay store? What is a seller to do?

First, you need to understand where you fall in the new fee structure. The number of items in your store is going to play a big part in this distinction. Essentially there are a few different types of “stores” you can join that will cost you a monthly fee and allow you to list “x” number of items in your store per month for free. You’ll be paying for each listing beyond that “x” number, so if you have a large number of items in your store – around 500 or more, you’re going to need to get smart about selling. Each month you will be charged for the number of active listings you have, so you want to move your items as quickly as possible while still getting maximum profit from the sale. So how do you do this?

Make sure you’re basing your pricing off of the real market value of your items. If you’re pulling a price out of the sky, you could be way too high. If this is the case, your item won’t sell quickly, or possibly at all. You should take the time to check the completed sales section of ebay and find a good average sale price. If the item sold for $100, and you have the exact same thing, you will probably only be able to sell it for around $100. You may think that your item is worth more, but unless it’s in better condition or has more features, it most likely will not. Even if the value really is a lot higher, the market is going to dictate how much buyers will pay. If it’s available for less, no one is going to opt to pay more. If you need to get the full value for the item, you might want to consider waiting to list it until the market settles down. You don’t want to be paying a fee every month to maintain a listing that will most likely not sell for your asking price.

 

You can find the Completed Listings section at the top of a search page next to the Sold Listings section.

My next point is one that I stress all the time: to make sure you take good pictures, and not just one; you need lots of pictures. Depending on what store you have, you should be able to list up to 12 pictures per item. If that’s not the case for your store, try to limit yourself to two or three high quality photos. Buyers will feel more comfortable purchasing when they have a better sense of what they’ll be getting.

This listing is using the maximum allowed photos. It has a shot of each individual item in the listing so the buyer knows exactly what they’re looking at.

Third, when calculating how much it will cost to ship your item to a buyer, know that if you charge too much money, you’ll wind up in trouble. If someone buys the item, they will have the option to rate your shipping fees, and you can bet their rating won’t be positive. Worse yet, buyers could choose to avoid your listing all together. USPS has pretty affordable rates, and you can easily get a quote from their website if you have the weight and dimensions of your item. Stick to this cost, maybe adding a few extra dollars to cover packaging materials and the time involved in boxing the item.

Last but not least, buyers will more than likely have questions regarding your listings. You need to be sure you’re answering them in a timely manner. Online shoppers are savvy and will most likely be able to find the same item elsewhere if they don’t hear back from you. Try setting up your account to send messages directly to your cell phone so you can easily respond back as soon as the question is asked. The faster you respond, the faster you sell.

Finally, I would like to say to the executives at eBay, “You’re charging sellers too much.” If you keep it up, you will continue to lose more and more business to other venues that are either free or less expensive. Sellers are savvy and will find a way to sell without the help of your site if you don’t remain competitive.  Venues like Tag Sell It are completely free and are quickly gaining users as buyers become fed up with higher costs from eBay.

If you’re a seller and you haven’t started shopping around yet, you might consider perusing your options before May 1st arrives.

Good luck, and happy hunting!

Aaron

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or contact him at thegaragesalemillionaire@gmail.com.

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An Overview of Second-Hand Marketplaces

Several second hand online marketplaces exist and each has their own strengths and weaknesses but we’re going to avoid the “which is best” question because we believe that is a question best suited for the seller to answer. We’re simply going to give a broad overview of the major second hand marketplaces and what makes them unique.

eBay – The most popular auction website with global reach. eBay has expanded since it’s early days of simple online auctions to add “buy it now” options and “storefronts” features for business owners. eBay is a great site to research items and learn about the trends of items that have sold or identify price ranges for your items and what the current market value of those items is. It’s important to note that a large part of eBay’s business is still auction-based, so while you might fall in love with a second hand treasure, there’s also the risk of getting caught up in a bidding war over an item (which can be fun or painful). One of the greatest things about eBay is their user rating system. With this technology, you can choose which users you wish to do business with and which ones to avoid, based on other users feedback after a transaction was completed.

Craigslist – The most popular e-classified website on the web with a dominant presence in the US, but it has a more limited global reach than corporate second-hand websites like Amazon and Ebay. Craigslist has virtually put newspaper classifieds out of business (thankfully), who reads the printed version of the newspaper anymore? Just kidding. It’s great that the world has had a web-based e-classifieds option, saving millions of forests and trees each year (yes, I’m a tree hugger). Craigslist has everything you’d expect from a newspaper classified but in digital form. While the service is geographically limiting and your risk of being scammed is increased over corporate sites like eBay and Amazon, it’s still not a bad site to use as long as you proceed with caution and heed basic safety rules. One thing that really SUCKS about Craigslist’s garage sale section:

  • Most sale events posted are not responsibly managed by users, so you’re likely to find sale events posted on the site from days, even weeks ago. That’s not entirely Craigslist’s fault, some users are just irresponsible for not removing their ads when the event is over. (On Tagsellit.com, we do this automatically so the user doesn’t have to go in and delete their sale – it automatically expires at the end of the scheduled sale event on the last scheduled day. Technology is pretty sweet.)

    • One thing that’s really awesome but they don’t do anything about (Again, stressing user irresponsibility too):

  • Oh and for the love of whatever, please keep “virtual garage sales” off Craigslist – they clearly discourage this, yet people still abuse it. Nonsense, respect their rules!

    • Amazon.com – A global department store with both a corporate business model and successful entrepreneurial business model. You can find a lot of goods on Amazon.com but if you’re looking for second hand treasures, there are alternatives, like going to a Flea Market. Amazon.com is great for getting deals on pre-owned media, like books and DVD’s. Their individual seller platform is a bit more confusing and complex to use than other sites but has gotten much easier recently. From new to used and everything in between, chances are good you’ll find at least some information about what you’re looking for or looking to sell when using Amazon.com.

    Tagsellit.com – While not yet a household name, the founders of this site did have the foresight to come up with an interesting way of revolutionizing yard sales, especially for folks who don’t physically have a front yard or garage, or who may even be restricted by neighborhood ordinances to have a garage sale. Founded in 2007 and launched in 2008, the idea behind Tagsellit.com is simple, a second hand marketplace with nationwide reach where virtual garage sales can take place, 24/7 and serve as a resource for folks looking for services from professionals specializing in the second hand industry (including Consignment Services, Pawnbroker Services and Estate Sale Services). The beauty of a virtual garage sale is simple: Even if you’re hosting a garage sale it makes sense to advertise your event and items in advance. By listing them on Tagsellit.com, you immediately get a nationwide reach. So, someone in California might really like that trinket that was listed for sale in New York – that buyer wouldn’t travel all the way to California for a garage sale, but shopping virtual garage sales online, now that’s genius!

    It’s important to note that not one single website has all the answers or all the solutions to everyone’s online buying and selling needs. Having options such as these makes life easier, and more fun, for everyone!

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    The World Wide Thrift Store!

    Hello Again!

    So, we’ve established that thrift stores are an awesome way to find clothes…it saves you money, it keeps your look unique and it’s a green way to shop. However, you are definitely at the mercy of whatever has been brought into the store without size variety or much selection. What if there was a gigantic store that let everyone bring their clothing together so that the second-hand cycle can be expanded throughout the whole country and even the world? Oh wait, there is one! Ebay is my OG when it comes to great deals on clothes/bags/shoes/accessories. It’s how I got started with second hand fashion and is especially beneficial to people living in smaller cities that can’t get to the great re-sale shops the more urban areas offer. I want to share with you some great tips and even search techniques that may have you paying more for shipping than the actual item…

    Necessity is definitely the mother of invention.
    I spent 6-years living in a small town in southwest Colorado and although it was beautiful, it was voted one of the worst dressed towns in America. We affectionately called the mall “The Hall” because it was a short run of a few shops and a pretzel place. The other stores in town were geared toward tourists and their bank accounts, leaving the locals starving for fashion variety and consequently, a little creative with their fashion. (Read: out of date and super casual). I don’t know about you but when I am shopping for a specific event, I know what I want to wear and I shop to find it. When you’re in a small town you more than likely aren’t going to find it. It was through panic inducing shopping trips to these limited stores that I decided I needed a new option. I was 6 hours away from any good shopping, so the internet it was.


    Shoes!
    Hurray for shoes!! Let’s just get that out of the way. The right pair of shoes is the cheese to the macaroni of any good outfit. I’m sure we’ve all purchased a pair of cheap shoes that have cut into our feet and made blisters in a way that had you wondering if you may have missed a safety recall notice about them. Ouch. Then there is the moment you put on a quality, non-synthetic pair of shoes and you realize that you really do get what you pay for. Ebay is the perfect spot to pick up nearly new designer shoes at a fraction of the cost, but it’s important to do your research before you begin bidding on every Manolo that comes across the screen. Take a trip to Neiman Marcus, Nordstrom’s or any other large chain that carries high quality shoes and try some on. Figure out what size you wear in different brands and record them. (Put Siri to work!) After you’ve got a feel for what you need as well as what you like, get yourself set up with an ebay account. Then use the search option to type in as specific or generalized search as you would like. If you are looking for; “brown heels size 8” then type that, or if you know specifically; “Tribtoo 105 Yves St Laurent pump, size 8 Tan/Nude.” You can narrow your search by color, style, size, heel height, condition etc. More often than not you’ll have a several sellers to choose from as well as a variety of photos that show all angles and any wear and tear on the shoes.

    These are classic black peep toe pumps by Vince Camuto. They are the most comfortable and versitle heels I own despite being 5 inches. I paid $68 when I bought mine from Nordstrom Rack and this pair is being offered for $5 on ebay, only worn once. Score!

     

    Bags!
    Good lord I love bags…It only took that first animal cracker box/purse when I was four and I was hooked. The same basic criteria apply for bags on ebay as it does to shoes. Do your due diligence shopping before to figure out which bags or designers you like, and then begin the search. The amount of designer bags that are being hocked online is a little overwhelming so be discerning. As I mentioned in my previous post, if it looks gross, it probably is. Bags with rips, tears or stains on them are a pass and any bag that is used but listed close to what it cost new is also a pass. A downfall of not doing business face to face is the chance of getting a knockoff bag at a designer price. Make sure you read the sellers reviews and make sure they are the real deal. Any seller with very little feedback rating or few transactions is one to avoid. Lastly, don’t be hung up on labels. Some of the coolest bags I have are vintage finds or even from overseas. Let your style guide you.

    This Vintage Gucci satchel is listed for $19, with $10 shipping. What a stylish school bag, carry on, purse, or diaper bag!

    Clothes!
    When I see someone in an outfit I admire, I take a mental note of what it is and I’ll search it through ebay. Many times the clothes that I’m feeling aren’t what’s in stores at the moment, and ebay can be a great way to find what I want, not what every store says I should want. For example, I saw a beautiful sundress that I loved and asked the girl wearing it what brand it was (And no, people generally don’t find you crazy for asking, but are rather flattered that you like what they’re wearing enough to ask). I ran the brand name and a few details such as “sundress and lace-up” though the search filter and immediately found several of the dresses for under $30. Retail price showed $85. Another option is to bid on “Lots” which are a group of items that you bid on all at once. If you really love tops from Guess then you can search “Guess tops lot” and will be shown groups of clothing that you can get at one low price. More than likely you won’t like everything is the lot, but there should be more things that you like than do not. Feel free to ask the seller for more detailed pictures or descriptions of the items condition, color, etc. The amount of clothing that people are looking to sell because they are either over it, or didn’t like it in the first place is staggering and they are happy to make any profit they can, which is completely your gain!

    A gently used Juicy Tracksuit that is listed for $27. Retail cost would be well over $100 and this seller is offering free shipping.

    Spelling Fail
    There are times that people are in such a hurry to list their items that they incorrectly spell the name of the designer or brand. So, by putting in variations of the designer or brand you’ll come across these misspelled items that have no minimum bid and aren’t coming up in a search for that item. For example: Michael Korrs (incorrect) instead of Michael Kors (correct), Victoria Secret (incorrect) instead of Victoria’s Secret (correct). By just transposing a few letters you’ll find many items that have fallen through the proverbial cracks.

    PayPal really is your Pal
    As in many parts of life, there will always be a few bad apples that will either not send your product or send a misrepresented item. If you paid the seller through PayPal, fear not! They will refund your money so you can shop with the peace of mind that you’re not only relying upon some stranger to get it together and send you your purchases in a timely manner. Also, they keep your financial information secure and it’s never given to the seller, a middle man if you will. In the 6 years that I have been getting shoes/bags and clothes from ebay I have only had one time that my item was never sent, and I was refunded in full by PayPal.

    In closing, don’t buy it just because it’s cheap; buy it because you are making a quality investment in your wardrobe. By taking the time to seek out these gently used items you’ll save enough to invest in other quality pieces and create a collection that really speaks to who you are and you’ll actually have some money left over to go out and show off those amazing second hand scores!

    Have a wonderful week!
    -Kelly xoxo

    Don’t be undersold on eBay

    I’m sure you’ve all heard me say that when you’re selling items on eBay you need to search both current and completed listings to get a good starting price for your item. But what do you do if your item has never been listed or sold before? What if you’ve searched everywhere and can’t find [...]

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    Pawn Shop Industry Insights and Trends

    Educating your customers is a great way to gain a loyal following in your community and industry. In a society where information flows freely and quickly, many people don’t have a lot of time to research and gather information before making decisions in their best interest. Customers count on their local businesses to provide unbiased opinions and information before making a business deal. This is just as true in the Pawn Shop Industry as it is in any other industry.

    We recently had the opportunity to interview three Pawn Shop owners and asked them to provide some of their own insights and thoughts on the Pawn Shop Industry today, here’s what they had to say:

    Lawrence Kahlden, President and CEO of La Familia Pawn & Jewelry, founded in 2009, has over 23 stores across Florida and Puerto Rico. When asked what industry trends are exciting him today, Lawrence said, ” I find it exciting that — thanks to shows like Pawn Stars– the industry has become more mainstream and acceptable as retail outlets. We’re seeing clientele walk through our doors that wouldn’t have just a few years ago. It’s definitely a great time to be part of the industry and evolve to accommodate customers with different needs.” When it comes to overcoming the challenges of getting more shopper traffic into the shop and buying items, Lawrence says, ” Our number one priority is to provide the best customer service in the industry. If you can accomplish that, people will spread the word and drive more people to our stores. That has been our number one way of getting new customers in the door.” Haggling on priced merchandise is fair game at Pawn Shops. Lawrence says, “We set fair market prices both on items for sale and the amount we will loan, but our top priority is to provide our customers with the best service available, and that includes working with them on prices to meet their needs.” Lawrence says approximately 95% of his inventory is sold in their shops. “We do use sites like Craigslist and eBay from time-to-time for bigger ticket items and things we feel might not sell quickly in our stores.”

    CashCo Pawn, based in San Diego, CA, is run by Managers Yigal and Moris Adato. They’re currently celebrating their 10th anniversary in business this year! When asked what gets them excited about their industry, they said, ” The fact that we now have a worldwide customer base is incredible. People don’t mind buying from pawn shops anymore because they know we are legitimate and offer amazing prices.” Improvements are still needed say Yigal and Moris. “We would like to see websites like Amazon and eBay provide more seller rights. Often times, e-commerce sites are so focused on protecting the buyer that they forget to protect the seller as well.” As for overcoming challenges of attracting more shoppers, Yigal and Moris say, “We continuously encourage pawn shops as a better way to shop.  We have a saying at our store, “Why pay retail when you can shop pawn?” People are looking to save money in this economy and what better way than shopping at pawn shops where items and services are legitimate?” When it comes to haggling, “If an item has been in the store for too long, we are open to negotiate. Our goal is to create the cash flow for the pawn business, so negotiating our prices come naturally.  If we can get you a great deal, we are open to it.” Yigal and Moris say they sell about 5 to 10% of their inventory  online using sites such as Amazon and eBay. “Usually the items we sell online are the higher end items and items that fall more under the specialty category.”

    Robbie Whitten is the owner of Money Mizer Pawns & Jewelers, open for 32 years and has 7 stores located throughout the Southeast, including Georgia, Alabama and Florida. Robbie says, “Technology in computer software and Eyeson Video Surveillance” is what excites him about the industry today. Money Mizer offers customer rewards and customer referral rewards to gain more shopper traffic. About 70% of Money Mizer’s inventory is sold in shop and 30% is through online sales through eBay and Gunbroker.com. As for haggling in the shop on items, “We set reasonable prices for items to sell, however, we leave some room for haggling” says Robbie.

    Pawn Shops are unique resale shops, and like any shop or marketplace in the second hand industry, you can find some pretty awesome stuff for sale at a reasonable prices. Before heading out to buy that new item, be sure to pop in your local Pawn Shop, chances are they may have what you’re looking for or be able to point you in the right direction of getting a better deal. The Pawn Shop Industry has a bright future with many opportunities and is ready to serve the needs of people in any economic climate.

    Remember, building a customer base that trusts your businesses advice and can count on your expertise goes a long way. Educating and rewarding your customers can help your businesses ratings both online and within the community.

    Have you checked out your neighborhood Pawn Shop recently? What did you think? Share your comments with us below!

     

     

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    Exploring WorthPoint

    Have you ever wondered what the value of your inherited antique furniture is worth? Perhaps you have a great piece of art or a unique collection that you wish to insure and need to be able to provide accurate information on the items. It can be challenging to figure out where to start with a project like this. Figuring out who you can trust and if their experience will prove accurate is key. Fortunately the folks at WorthPoint are here to help you discover your hidden wealth – or if you have any!

    WorthPoint is the leading online resource for collectors. The site provides market data on art, antiques and collectibles along with professionals who offer opinions and appraisals to help people value, preserve, buy and sell items. WorthPoint’s core feature is a vast database of more than 100 million sales records aggregated from eBay, virtual marketplaces and leading auction houses worldwide. WorthPoint licenses these items from eBay. This database, known as “Worthopedia,” features photos, descriptions and sales information to help people determine the value of their items.

    One of the most awesome features that that WorthPoint provides is advice from “Worthologists,” — subject-matter experts who share their views on collecting through articles, blogs and webinars. These experts also provide item valuations through the “Ask a Worthologist” service on the site.

    There are also Collectors’ Forums are available where people can share insight, advice and knowledge on everything from china to coins, toys and glassware.

    So the next time you’re “cleaning” out the the attic, keep WorthPoint in mind, maybe you can identify some old treasures that have a new “hidden” value!