Let’s talk about how we turned a $350 investment into $3,500 on eBay. We recently purchased a range and 10X’d our investment to turn it into $3,500.
What We Flipped
I did actually take an offer on this one. Someone offered me less, but it fit into my parameters of what I was looking to make on this item, so I took it. The whole story behind the flip is that we were trying to go on a road trip with our friends and they said they needed a budget for it so we were trying to help him find something to flip to cover the trip costs. I found this range an hour away from us on the coast and I knew the potential of this item was there and it would be worth the drive. I told my friend, let’s go over together and pick up the item and I’ll help you with it when it sells.
I set up everything for him, made the offer on the item and the seller accepted, but when it came time to pick it up, he didn’t have time to go. I didn’t want to let this item go because I knew the potential, so Melissa and I went and got it and brought it back. It took me a while to get listed, and it sat for maybe two months before it sold. I charged $600 for shipping on this, which also covered my time to pallet it and prepare it to ship.
Profit On The Flip
What’s the profit? Let’s talk about that because it’s the most important part. You have to be making good money for it to make sense. There is some effort involved, but the effort is so worth it if I look at my hourly rate of what I’m making on these items and how much effort I’m putting in now that I’ve honed my skills.
Item Sold: $3,500 + $600 extra for shipping
COGS: $350
eBay Fees: $361
Shipping Fees: $600 (estimated)
Express Fee From eBay: $2
Total Profit: $2,787
Close to $3,000 in profit and with approximately 7 hours invested into this (including the drive to the coast). Our hourly rate is $428 an hour for this flip. That’s an incredible hourly rate. What other jobs can you do to make that kind of money? It’s really cool to do this high profit model and we definitely recommend trying it out if you’re open to learning how to ship larger items.
Show Notes
Check out our free workshop: https://learn.fleamarketflipper.com/flipping-workshop-new–0b9f0
Follow us on Instagram: https://www.instagram.com/fleamrktflipper/
FURTHER RESOURCES
FREE Workshop How To Turn Your Passion of Flipping Items Into A Profitable Reselling Business
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