1h (edited) • General discussion
Auction advice
So I decided to auction 12 cheaper slabs that had been sitting on my eBay account for over a month. I did this strategically though. I auctioned it off so that the money would arrive in my account before the show so that I would have an additional $500+ of investing cash. These shows are good for selling but they are awesome for buying and that is where a lot of your money can come from if you know what to buy and what will sell. Last show I made a killing on what I bought and sold at the table.
How to do auctions strategically: start them on Sunday at 9:00 pm and run them for 7 days and have them end at 9:00 pm. The majority of people are better rested on Sundays and are usually just looking at their phone before bed. Why not give them a shot of dopamine before the week begins?! The bids will likely come in through out the week. But the bids don’t ramp up until the last 10 minutes. Personally I don’t bid until the last 10 seconds of an auction. I won’t bid more than what the card is worth though. I don’t have an ego about out bidding someone, this mindset saves me from making bad business decisions.
How to know what you should auction: if you have had a card for sale on eBay and it has a lot of followers and people have sent offers but you’ve declined. Or maybe there has been no offer but the followers are there. I will send an offer to all of the followers first and if it still doesn’t move after that then I will start the auction. Some money out of the card is better than inventory that doesn’t move.
But this is where knowing what you have in the card matters. If you are going to stay in profit you need to start the auction at the price point plus shipping for what you paid. So if you have $150 into the card you need to start the auction at $165 so that you can cover overhead. I’m talking like l’m doing construction 😂 but the same principles apply in this business that exist in my other business. They scale in similar ways for sure.
In the past 90 days I’ve made $5,932. It’s actually been more like a month and a half honestly. My intitial investment with the slabs was around $1,600 for cards and grading. I still have over $1,000 worth of slabs on my eBay waiting on a buyer. I made this in the background of my life while I just managed and scaled my construction company. There were a few cards I got from the show as well that sold on eBay. So it isn’t all slabs, I believe there were 3 cards I sold at around $1,100. I paid about $600 for those 3 cards so the profit was nice. Not for showing off, I just want you all to know where I am at and what my system has brought me this far and what it can do for you.
If I wanted to show off I’d start a construction Skool 😂 I’m passionate about my carpentry skills. That’s the real money maker, I do this because I enjoy it. The money just sort of happens. Lol
😂 while I was writing this post I sold the “Wrong lever!” enchanted putting me over $6,000 lol now I have to go buy more Lorcana cards!
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Auction advice
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