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Thrifty Mommy

Ebay Watch Out!

by Karen on June 20th, 2008

I bought two motorcycles back in the winter before it was warm enough to ride.  Winter is the best time to buy a motorcycle.  The reason is because people haven’t gotten their tax money back yet and they want some money to catch up after Christmas.   Another reason is because people usually aren’t searching for a motorcycle in the cold of winter so the price of supply and demand isn’t there.

If you are looking to buy a motorcycle now for the summer, be ready to pay top dollar for it. I paid $1500 for one of my motorcycles, spent about $500, and 60 hours on some customizing, and then turned around and sold it in the summer for $5000. That was about $3000 profit, not counting the labor. You could say I made $50 an hour. Not too bad I guess.

I am able to say that both of my motorcycles are sold, thanks to Craigslist. This was my first experience with them, but it definitely won’t be my last. The greatest thing about Craigslist is FREE listings.  Trust me, I know how Thrifty Mommy feels about FREE.

I actually posted one of the motorcycles on eBay twice, and it met the reserve price both times. The problem is, my winning bidders did NOT pay. They didn’t even come look at the bike. I have 2 problems with this, 1) eBay charged me $38 to list it, and another $40 because the reserve was met.  2) thanks to the new feedback system eBay has setup, sellers can NOT leave negative feedback for a buyer, not matter what the reason. This allows bidders the opportunity to play all the games they want, with no consequences. With the popularity of Craigslist these days, eBay should watch out, or make some changes quickly.

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6 opinions for Ebay Watch Out!

  • Denison
    Jun 21, 2008 at 5:51 am

    If you are planning on or already sell on eBay or the ALTERNATIVES you really should check out this New free online eBay/PayPal Fee Calculator first to get a much better understanding of how much eBay and PayPal take out of your profit and what is left for you.

    Try it, you might be surprised at how much eBay+PayPal really makes! The calculator works for US, CA, UK, AU, NZ eBay Sites.

    http://pheebay.com/1/?eBayALTERNATIVESPheeCalculator

    This calculator is different than others because it concentrates on the most important thing that is how much PROFIT eBay+PayPal makes vs. how much you make. The calculator also adjusts for those who’s Sell Through Rate is less than 100% (which is Everybody). And also shows you what eBay competition charges.

    It can be used to help one determine better which items have more profit for you, and which ones are dead weight low profit items.

    The Calculator can thus help you overtime to increase your Overall Profitability.

    Thanks, and spread the word.

  • Stephanie
    Jun 21, 2008 at 11:49 am

    I’m so glad you had a good experience on craigslist, I much prefer it over e-bay!

  • Allison
    Jun 22, 2008 at 12:53 am

    I’ve been a professional eBay seller & PowerSeller for over 4 years. Now they take approximately 20% of my gross sales with their fees. I really, really resent their greed and also these new changes with feedback. Sellers have no leverage! I launched a website and am happy to be migrating most of my sales there.

  • Allison
    Jun 22, 2008 at 12:55 am

    But PS about craigslist: eBay owns 25% of it, but at least it’s free to list items for sale.

  • Karen
    Jun 22, 2008 at 8:09 am

    Allison: Yes, ebay is getting greedier and greedier. You’d think the millions and billions they’ve made would be enough, but not so.

    I’ve heard that ebay owns a part of Craigslist, but honestly, I haven’t figured out why yet. They also started a new site last year called Kijiji. It’s also free. Last time I checked though, most people were still using Craigslist.

    Thanks for stopping by! :)

  • Denison
    Jun 23, 2008 at 9:56 am

    Allison: I hope you and others know/understand that % of Sales is always smaller than % of Your Total Profit (they will only be equal in the rare instance in which you got your inventory for free). This is if eBay/PayPal is taking 20% out of your total Sales, chances are they are making 25%-60% of the Maximum Total Profit you could make. The above mentioned Calculator calculates this for you. Lots of eBay Sellers regrettably do not understand or know this. :(

    A & K: Here is more info on the Craigslist vs eBay lawsuits (it might explain more their tangled relationship):
    http://pheebay.com/1/?CraigslistVSEbay01

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