Here is how that works. You pick something a little unusual and cool and for this case I will use some slipper chairs we found on Craigslist. I actually bought 3 of them from another reseller for 105.00, We did the research and the only comp we found was these.
They are priced now at 1200.00 on EBay. 10 months ago when we found our chairs they were 2400.00. So at first we figured go for the moon and undercut these by half. Nothing. We went down and down. Finally a pair sold for 500.00. Then we priced the last chair at 299.00. Sold right away. So on a 105.00 investment the market was actually 800.00 on these three pieces. Of course since then we have moved on and rolled that money many times into other pieces.
Their way = 2400.00 asking price is now 1200.00 asking price (10 months later).
This way = 105 investment. In 30 days it becomes 650. Lets say for argument I keep 350 and invest back 300 looking for 600 in the next 30 days. So in 2 months when this all started I have made 850. I can roll this out to the full 10 months. Turning your inventory makes you money.
Rule 1 - Sell your freaking stuff and roll the money.
Rule 2 - Be aware of the real market. Do research on selling prices no I wish I get this prices.
Here is a cool newsletter for Mid Century and other area's of vintage stuff. Collectors Weekley
Morale of the story is know where you are as a seller. If you have a big beautiful store you could price and sell these differently. If your just starting out EBay prices may make you wait for a pot of gold that will never come. Have a great picking day.
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