Ok long story! I did something real stupid! I really wanted to ramp up my business so I found a guy that deals in truckloads of leftover inventory from a popular higher end department store. He has a pretty good Facebook page with a long list of members so I thought I would give him a try.
I am interested in selling the product he has. He called me and convinced me. “You’re guaranteed to make more than triple your investment in sales on Amazon” he says. “I have good stuff” he says. He sent me pictures. I liked what I saw honestly. So I bought a done for you lot.
So he throws a bunch of stuff into my inventory, puts retail value on them on calls it even.
So I get home with a car load of RA, excited to check out my new inventory and i’m stunned, shocked, and immediately pissed. I didn’t have to crunch the numbers but I did. He figured my returns on MSRP without even looking at the listings. All of the listings are selling for half to a quarter of MSRP which is pretty much about what I paid across the line. Why I ever talked myself into this Idk. I always crunch the numbers twice before I buy.
I analyzed them over a year and they stay pretty much the same. He’s trying to convince me right now that I don’t have to come down on my prices and they’ll sell. Even with multiple sellers on the listings. So basically, all the work I’ve done and all the profit i’ve made for the last couple of months is down the shitter. Or so i’m thinking. Pardon my french. If i’m wrong please by all means tell me i’m wrong. I would welcome it.
The moral of the story is pay attention people! don’t be like this me! get the paperwork. Get the manifest, and crunch those numbers. Don’t leave it up to somebody else to decide your fate. If they don’t provide it don’t buy it. I’m so pissed at myself.
If I do make it out of this at break even I’ll be shocked yet again. It could be back to the oil dungeon with me if I keep doing this stupid stuff. Right now I need a stiff drink. Rant over.
He didn’t do anything wrong. ALL liquidators price based off of MSRP, she didn’t clarify that. So the whole “bamboozled” thing is highly inaccurate. These businesses are ours to oversee, research and make sure we are on the same page about what we are buying. This situation sucks, but it’s a learning experience for sure. you will get through this just fine, it just may take a little more elbow grease than you initially expected, but you can do it. Make sure the listing is in the best shape possible I.e. lots of great pictures, descriptions. Bundle some of the items together with a higher price for the bundle, but make it seem like a discount. There’s a lot of things you can do to go above breaking even. Keep your head up.
It’s not up to someone else to tell you what you can sell and how much you can sell it for. Sounds like a good salesman. Hope you’re able to do well like he’s told you. If he’s hoping for repeat business he has reason to satisfy and not disappoint. But I might have to tell him where to stick it.
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