Networth: $360k<\/p>\n\n\n\n
Back on February 5th, I decided to run a very small resale experiment at Goodwill. I bought four items for a total of $33 just to see if I could turn it into a profit. It wasn\u2019t meant to be anything serious, just a quick test to understand the process better.<\/p>\n\n\n\n
It took about two and a half months, but as of two weeks ago, I sold the third item. Early on, I thought I had already broken even after selling the second item, but I completely underestimated how much fees would impact everything, especially on Etsy. Once I actually checked the numbers, Etsy had taken close to 38 percent of the revenue, which caught me off guard.<\/p>\n\n\n\n
The four items I picked up were a pair of DC Flash Converse, a Nerf gun, a salt and pepper shaker, and a New York City snow globe. I sold the shoes for $40. After $8 shipping and all the fees, I expected to be somewhere around $27, but in reality I only ended up with about $19. That alone shifted the entire outcome of the experiment. At that point, I thought I was close to break-even, but I was still about $6 to $7 in the hole.<\/p>\n\n\n\n
The Nerf gun sold on eBay, which felt a lot better from a fee standpoint. I paid $7.99 for it and ended up basically breaking even, maybe even losing a few cents. It didn\u2019t bother me much at the time because I assumed the first sale had already covered most of the costs, but that assumption turned out to be wrong once I looked at the actual numbers.<\/p>\n\n\n\n
Right now, I\u2019m either $4 or $5 positive on the entire trip, depending on how I account for everything. It\u2019s not a big win, but it proves the concept. If I scale this and get better at picking items, there\u2019s money to be made. This was a very small sample size, but it taught me a lot. I also realized I have no idea why I bought that salt shaker. It was only $2.50 because it was half off, but still, not a great decision. I got a little lucky with the Nerf gun sale, but I also realized pretty quickly that I made some poor picks.<\/p>\n\n\n\n
So far, I\u2019ve sold three out of the four items, and now I\u2019m just hoping someone out there needs a salt shaker. The other two items I bought felt like clear winners at the time, so overall I\u2019d call it a 50\/50 result. Logically, if I keep doing this, I should improve my eye for what sells and what doesn\u2019t.<\/p>\n\n\n\n
Going forward, I plan to make more Goodwill trips on my days off and treat this more seriously as a sourcing channel. My next experiment will probably be buying a liquidation pallet. I\u2019ve read a lot of mixed things about them, and most people say they\u2019re not worth it, but I want to see for myself.<\/p>\n\n\n\n
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Networth: $360k Back on February 5th, I decided to run a very small resale experiment at Goodwill. I bought four items for a total of $33 just to see if I could turn it into a profit. It wasn\u2019t meant to be anything serious, just a quick test to understand the process better. It took … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts\/338"}],"collection":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/comments?post=338"}],"version-history":[{"count":1,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts\/338\/revisions"}],"predecessor-version":[{"id":341,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts\/338\/revisions\/341"}],"wp:attachment":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/media?parent=338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/categories?post=338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/tags?post=338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}