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Rolex Flip Challenge

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Re: Rolex Flip Challenge

#31

Post by Sporkboy » Thu Jun 27, 2019 2:37 pm

BillionaireDoors wrote:Is anyone getting any benefit from this thread? I hope it's inspiring some of you to go out and try, or at least cash in the junk you have sitting around your houses.
Coming from a family of antique dealers and a constant hoarder, I am enjoying this thread very much and it has answered some of my questions.
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Re: Rolex Flip Challenge

#32

Post by WhichWatch? » Thu Jun 27, 2019 4:02 pm

Sporkboy wrote:
BillionaireDoors wrote:Is anyone getting any benefit from this thread? I hope it's inspiring some of you to go out and try, or at least cash in the junk you have sitting around your houses.
Coming from a family of antique dealers and a constant hoarder, I am enjoying this thread very much and it has answered some of my questions.
+1 to this. Keep the posts coming!


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Re: Rolex Flip Challenge

#33

Post by Boourns » Thu Jun 27, 2019 4:11 pm

BillionaireDoors wrote:
Thu Jun 27, 2019 2:34 pm

Which of these items would you be more likely to click on?

Screenshot_20190627-152722.png

Screenshot_20190627-152525.png
TBH that thing kinda creeps me out. :lol:
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Re: Rolex Flip Challenge

#34

Post by Dub Rubb » Thu Jun 27, 2019 4:39 pm

BillionaireDoors wrote:Is anyone getting any benefit from this thread? I hope it's inspiring some of you to go out and try, or at least cash in the junk you have sitting around your houses.

Flip of the Day

Picked up a few pocket watches at an estate sale. I was kind of hoping this one wouldn't sell so that I could get a stand and display it. It really does run for 8 days.

$300 Sold Price
$39 eBay + PayPal fees
$10.59 Shipping
$180 Buy Cost
$70.41 Net Profit
Screenshot_20190627-145246.png
I am finding lots of benefits! Especially from the information regarding how to make a good sales post and how best to photograph your items. Hoping to put them to use soon!

I am also enjoying seeing all the random stuff you are able to flip for profit. It has opened my eyes to things to look out for that I previously would have just walked by.


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Re: Rolex Flip Challenge

#35

Post by BillionaireDoors » Thu Jun 27, 2019 4:57 pm

Boourns wrote:
Thu Jun 27, 2019 4:11 pm
BillionaireDoors wrote:
Thu Jun 27, 2019 2:34 pm

Which of these items would you be more likely to click on?

Screenshot_20190627-152722.png

Screenshot_20190627-152525.png
TBH that thing kinda creeps me out. :lol:
If it isn't obvious, it's the phoenix from Harry Potter.
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Re: Rolex Flip Challenge

#36

Post by Boourns » Thu Jun 27, 2019 5:54 pm

BillionaireDoors wrote:
Thu Jun 27, 2019 4:57 pm


If it isn't obvious, it's the phoenix from Harry Potter.
OK that makes sense. I have not seen any of them, so it just looked like a deformed demon parrot to me. :shock:

I suppose that is a good lesson: Know what the heck you are buying to flip.
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Re: Rolex Flip Challenge

#37

Post by WhichWatch? » Wed Jul 10, 2019 11:09 am

Hey BD - How do you track stuff you're selling and stay aware of the profit on each item? I assume, based on your volume, you have something more sophisticated than a spreadsheet? But I could be wrong...
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Re: Rolex Flip Challenge

#38

Post by BillionaireDoors » Wed Jul 10, 2019 12:01 pm

WhichWatch? wrote:
Wed Jul 10, 2019 11:09 am
Hey BD - How do you track stuff you're selling and stay aware of the profit on each item? I assume, based on your volume, you have something more sophisticated than a spreadsheet? But I could be wrong...
Yeah, normally spreadsheets. You can export a sales report from eBay, PayPal, Amazon and add a column with your purchase prices. I keep my receipts so that I can match them up. I should probably come up with a better system though.

In the end, if you have good totals for your amount received from sales vs amount spent (purchase price, fees, shipping, mileage) that's all you really need.
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Re: Rolex Flip Challenge

#39

Post by BillionaireDoors » Wed Jul 10, 2019 12:24 pm

Nike golf cleats are another great seller. Watch for them at discount stores for $20-25.
Screenshot_20190710-131744.png
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Re: Rolex Flip Challenge

#40

Post by WhichWatch? » Wed Jul 10, 2019 12:48 pm

BillionaireDoors wrote:
Wed Jul 10, 2019 12:01 pm
WhichWatch? wrote:
Wed Jul 10, 2019 11:09 am
Hey BD - How do you track stuff you're selling and stay aware of the profit on each item? I assume, based on your volume, you have something more sophisticated than a spreadsheet? But I could be wrong...
Yeah, normally spreadsheets. You can export a sales report from eBay, PayPal, Amazon and add a column with your purchase prices. I keep my receipts so that I can match them up. I should probably come up with a better system though.

In the end, if you have good totals for your amount received from sales vs amount spent (purchase price, fees, shipping, mileage) that's all you really need.
Cool, thanks! When you're deciding to flip something, does the $10 in your calculation represent shipping? How do you protect yourself from the risk that it's more?

Selling Price x 0.87 - $10 - Buy Price = Profit
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Re: Rolex Flip Challenge

#41

Post by BillionaireDoors » Wed Jul 10, 2019 12:53 pm

WhichWatch? wrote:
Wed Jul 10, 2019 12:48 pm
BillionaireDoors wrote:
Wed Jul 10, 2019 12:01 pm
WhichWatch? wrote:
Wed Jul 10, 2019 11:09 am
Hey BD - How do you track stuff you're selling and stay aware of the profit on each item? I assume, based on your volume, you have something more sophisticated than a spreadsheet? But I could be wrong...
Yeah, normally spreadsheets. You can export a sales report from eBay, PayPal, Amazon and add a column with your purchase prices. I keep my receipts so that I can match them up. I should probably come up with a better system though.

In the end, if you have good totals for your amount received from sales vs amount spent (purchase price, fees, shipping, mileage) that's all you really need.
Cool, thanks! When you're deciding to flip something, does the $10 in your calculation represent shipping? How do you protect yourself from the risk that it's more?

Selling Price x 0.87 - $10 - Buy Price = Profit
That's average for 1-3 pound items. Might be closer to $7 if the buyer is local vs $12 if they are across the country. If you are targeting $10+ profit per item, it works out.

USPS has joined UPS in calculating dimensional weight, so be very careful with large items. A 2-pound item in a very large box can get expensive.
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Re: Rolex Flip Challenge

#42

Post by Bbrou33 » Wed Jul 10, 2019 1:33 pm

I forgot about this thread, but remembered a few days ago and definitely want to start hitting all the stores in NYC. I've seen some pretty incredible items when shopping there personally. Time to start flipping to get that Rolex! Or Speedmaster Dark Side of the Moon in my case
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Re: Rolex Flip Challenge

#43

Post by BATMAN » Wed Jul 10, 2019 8:58 pm

BillionaireDoors wrote:
WhichWatch? wrote:
Wed Jul 10, 2019 11:09 am
Hey BD - How do you track stuff you're selling and stay aware of the profit on each item? I assume, based on your volume, you have something more sophisticated than a spreadsheet? But I could be wrong...
Yeah, normally spreadsheets. You can export a sales report from eBay, PayPal, Amazon and add a column with your purchase prices. I keep my receipts so that I can match them up. I should probably come up with a better system though.

In the end, if you have good totals for your amount received from sales vs amount spent (purchase price, fees, shipping, mileage) that's all you really need.
Similar setup for me. I use Excel with some basic formulas and conditional formatting. Usually enter cost info (price paid, taxes, shipping, other fees) as soon as I buy something and then fill in what it sold for, fees, shipping, etc. once the item sells.

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Re: Rolex Flip Challenge

#44

Post by BillionaireDoors » Thu Jul 11, 2019 7:11 pm

I'm just starting to test the waters on selling watches on Amazon. It looks to me like there are a lot of opportunities on the lower end of the market. I'm sending in a couple of Timex watches to sell FBA. Anything more expensive I'm going to sell FBM because I don't trust Amazon with expensive items. They lose and damage a lot more items than you would expect. Let's see how it goes.
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Re: Rolex Flip Challenge

#45

Post by BillionaireDoors » Sun Jul 14, 2019 10:17 am

This is why I love eBay Global Shipping. It's the only way that I will sell items internationally.

"We've finished investigating the claim your buyer filed, and we've decided the case in the buyer's favor.
We've determined, however, that the global shipping provider was at fault and is responsible for refunding the total amount of the purchase and shipping to the buyer. We won't deduct any money from your account."
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