For a while I’ve been thinking about an e-bay challenge,
where I buy something for a £1 and then sell it on ebay and use the profits to
buy something else, recycle that by selling it on and seeing how much I can
grow my investment.
Well I’ve finally got around to starting. The first step was
to decide what to buy, in effect im looking for something that is either over valued
on e-bay or something that is sold at a bargain. The key to this challenge is
estimating the real value of a product. Well, being the father of a 6yr old, I hope
I can be excused for starting with toys, More precisely skylanders. These toys
are NFC models which let children have something tangible which then translates
on to screen via a games console. I’m
sure they will eventually turn out to be this generations star wars toys or corgi
cars. They will be eminent collectable but in about 30 yrs most will have found
their way to the local scrap heap.
Though at present there is a thriving second hand market and
toys a plenty. New these toys sold for about £15 a model, but now 2nd
hand they can sell for a whole range of prices.
My angle here was to use a the 2nd hand store CEX
via their online portal webuy.com - you’ll see you can buy a Skylanders
Giant’s booster pack for a mere £1 not only does this have a figure included
but comes with a game as well. If fits
within my budget, though there is a postage fee of £2.25, which I’ll have to
absorb, but in reality it worked as I ordered other stuff as well.
Interestingly the same figure sells for £1.50 on its own
without the game, on the same site. Which, is in itself an odd state of affairs.
So with step 1 safely completed on to selling it via e-bay. After
a week it sold for £4.90 (including £2.70 postage). Again here I had to outlay on postal costs but
hers the figures
- Ø Product cost £1
- Ø Postage receipt £2.25
- Ø Total cost £3.25
- Ø Money received £4.90
- Ø Less postage £2.70
- Ø Total income £2.20
- Ø Profit\loss -£1.05
Not exactly the result I wanted
to start with. Despite doubling the value of my goods, the profit was more than
eaten up postage. I’ll try again, but its clear that whatever I buy must be
bought locally and then sold on line, that way i have a chance of keeping some
of my income.
Total outlay
£5.95
Total Income
£4.90
Profit Loss
-£1.05
