Lessons Learned Thread

[u/AutoModerator]

What have you learned lately? Could be through a success or a failure. Could be about a specific item, a niche, flipping in general, or even life as learned through flipping.

Do please keep in mind the difference between shooting the shit and plain bullshit and try to refrain from spreading poor advice.

Try to stop in over the course of the week and sort by New so people are encouraged to post here instead of making their own threads for every item.

[u/CompetitiveGlass4133]

Mine: dead inventory is the most expensive inventory. I used to hold slow movers for months waiting for the price to come back. Now I cut prices hard after about 90 days with no sale and take the loss. The cash freed up almost always outperforms the original listing sitting there for another six months.

[u/Generic_Midwesterner → u/CompetitiveGlass4133]

Almost daily, I sell something that's been listed for over 9 months. I have ample storage room, so I'm glad to play the long game. Many of my items are very niche, so I just need the right person to come looking, and that often takes over 90 days.

[u/Skittler_On_The_Roof → u/Generic_Midwesterner]

It all depends on your limiting factor, and how trend-based your inventory is.

If your limiting factor is funding and space, and you have excess time, it makes sense to take wins, cut the minimal losses and go through another cycle.  

I've got no time but excess funding and space.  I also sell long tail items like antiquarian books or architectural salvage which can sit for years for the right buyers, and in general they don't really depreciate.  It makes more sense for me to source more rather than spend time discounting and shipping at a loss.

[u/nydjason → u/CompetitiveGlass4133]

How much do you discount each piece?

[u/CompetitiveGlass4133 → u/nydjason]

Usually 15-20% off after 60-90 days with no movement, then another cut if it still sits. For bulk lots I'll go 30-40% — moving it beats storing it. The trick is deciding your floor price before you list, so discounting feels like executing a plan instead of panicking.

[u/DefinitelyNotLola]

I've been cleaning my house and it turns out I have millions of little death piles hidden in all the corners, drawers and shoe boxes. Things that I was going to eventually list on eBay, but in all honesty, they're kind of low value and most likely no one wants to pay $8 shipping for a $3 item anymore. So, I organized it all and I've been taking it to the flea market on weekends. My house feels lighter and my wallet is fluffier. Plus, after a couple of runs at the flea market, it's easier for me to take the L and just donate it all.

[u/Intelligent-Gypsy324 → u/DefinitelyNotLola]

Been to that flea market. It's awesome if its the one I am thinking of. Has it been worth it for you or did you have to figure out your niche to avoid others with same...?

[u/Skittler_On_The_Roof → u/DefinitelyNotLola]

Flea market trading before you take the L and donate it can be useful.  Another seller that's there every weekend may not be willing to sink cash into your 100 pieces of $3 items, but they might trade it for one $25 or $50 item they have that you want, either for flipping or personal use. Plus you don't even need to pack it back on your car or stop at the donation bins.

[u/No-Vanilla8385]

Bought a lot of sealed craft supplies thinking I'd triple my money. Turned out half of it was discontinued colors nobody wanted. Lesson learned, sealed doesn't mean desirable. Now I check sold listings before even opening the message thread with a seller.

[u/ohmy_omg]

Bought some old books thinking they have value they don't lol. Now I know what to look for when it comes to books

[u/Hogtownsucks → u/ohmy_omg]

Books are notoriously hit and miss.

[u/Hogtownsucks]

My thing is to sell oop media on eBay and FBM. At first it was vhs, then dvd, then of course blu ray. Some titles can be very valuable on vhs and worthless on dvd and vice versa. It’s very confusing.

During the summer I found some new sealed DVDs from a seller looking to blow them out at a buck a piece. I noticed some said “Netflix” on the label. I was like “why would anyone pay for DVDs of Netflix movies when you can just pay for a subscription and watch all you want”.

What is don’t know was that Netflix sometimes pulls off some of their own movies off the service. When they do that the dvd skyrockets in value. Passed on a small pile of new and sealed copies of Bandersnatch. The open one are going for 200 bucks !

[u/lewisweeic]

Hate selling hats. Every time I buy they always sell like shit. Avoiding them like the plague unless brand new and my cost is under $3 for your average New Era sports team whatever