Turning $20 Into $5000 - Jeffreys Challenge

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $164.12

<b>Current Total</b>: $276.27

<b>Inventory</b>: 2 sake bottles (half ownership) 50 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 4 hours 22 minutes

<b>Time Spent Total</b>: 17 hour 19 minutes

Time. That is my biggest obstacle at the moment. I have too many things I want to do and not enough time to do them all. I need a 36 hour day

I have found that I don't watch TV anymore since I started this challenge. Maybe news once every couple of days. That is where I've taken the time from. A good change since I tend to get mesmerized in front of it too often.

Since my last post I had 23 cups sell for $275.43 and incurred $36.74 in eBay and paypal fees for a profit of $238.69. That gets split in half with my partner for a profit of $119.35 to me.

Of the inventory we have, I've only been able to list 12 more of the cups (I put three sets of 5 on earlier) so there are 27 of the 50 currently on auction. I need to get the rest of them on and will try to do that tomorrow.

I need to begin listing those Star Wars items again too - I've just been lazy on that. No excuse for that. Time to take a bit more time and prepare some of the auctions.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $276.27

<b>Current Total</b>: $270.28

<b>Inventory</b>: 2 sake bottles (half ownership) 50 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 0 minutes

<b>Time Spent Total</b>: 17 hour 19 minutes

My planes to get up more of the cups failed miserably when my Internet connection went out the last few days - it didn't go out completely, but would only work for a few minutes, then go out, then work for a few minutes, then go out again. It was extremelty frustrating (not only for this challenge, but all the other things I wanted to do on the computer). Hopefully that has now been solved (fingers crossed). I'm looking at monday to list more since Sunday has never been a good selling day for me on ebay.

I did cave in and purchase a domain name for this little adventure. The way that it has been going, I feel that I will continu it even after the time period has passed (maybe a different challenge) I chose activeinvestingblog.com which cost $5.99 for the year and has been deducted. I can host it on our current server so there will be no costs there. It's just a matter of finding the time to get it set up.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $270.28

<b>Current Total</b>: $310.76

<b>Inventory</b>: 2 sake bottles (half ownership) 35 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 17 minutes

<b>Time Spent Total</b>: 17 hour 36 minutes

My experiment with selling the sake cups as groups was a failure. They made money, but about half of what I would had gotten if I has put them on sale seperately. While the group saved me money in listing fees, it didn't save enough to make it worthwhile to do that again in the future. It was worth the try as it would have meant I could list a lot more if they had sold well as a group, but I now know. The cups will go on individually from now on...live and learn.

The 3 sets (total 15 cups) sold for $91.55 minus $10.60 in ebay and paypal fees for a net of $80.95. That is split in half for a profit of $40.48 and puts me over $300 for the first time.

I'm set to place the other 23 cups, 2 bottles and a tray (the trays are all the same pattern so I will place them on one at a time rather than a group) I have on auction tomorrow. I'm still having some Interent connection problems, but will keep my fingers crossed for tomorrow.

Received an email from my friend that she found some more items for us. Will get those tomorrow and find out what exactly she found and the cost for them.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $310.76

<b>Current Total</b>: $302.96

<b>Inventory</b>: 2 sake bottles (half ownership) 35 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 22 minutes

<b>Time Spent Total</b>: 17 hour 58 minutes

Internet access has hurt the challenge over the past week or so...still haven't figured out completely what's going on, but my access has been limited at best. It has meant that I haven't been able to put up many of the auctions I have wanted to. I did manage to get another 13 up yesterday at a cost of $7.80 in ebay fees and I hope to get the rest up tomorrow (Internet access Gods willing).

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $302.96

<b>Current Total</b>: $299.96

<b>Inventory</b>: 2 sake bottles (half ownership) 35 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 10 minutes

<b>Time Spent Total</b>: 18 hour 08 minutes

Still fighting my Internet connection - will be glad when this whole episode is over. I did manage to get another 5 cups up on auction for a cost of $3, but then my access went out again.

I'm debating whether to list the items whenever I can. From experieince, I find that weekdays in the evening are the best times to sell my stuff to get the best prices, but that means listing them here in the early morning. I'm wondering if I just list everything when I have the time, if the extra listings will make up for the slightly lower prices I'm likely to see. Something for me to think about.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $299.96

<b>Current Total</b>: $398.55

<b>Inventory</b>: 2 sake bottles (half ownership) 23 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 0 minutes

<b>Time Spent Total</b>: 18 hour 08 minutes

Oooooops. With all the Interent connection issues, it seems I missed a series of 12 cups that sold on th 16th of this month. Here is the information on them.

the 12 cups sold for a total of $223.35 with $26.18 in ebay and paypal fees for a profit of $197.17. Divided by 2 and a profit of $98.58 gets added to the total.

I wish I could predict with better certainty which cups are likely to sell for a lot an which aren't. Almost all of them sell for more than we purchased them for, but some make only a few dollars profit while others make over $20 in profit with some as high as $40. If I could consistently pick the cups that would sell for a $20 profit, I would be more than willing to spend the time wrapping them. I'll have to do some more research to get better at picking out those high value cups.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $398.55

<b>Current Total</b>: $398.55

<b>Inventory</b>: 2 sake bottles (half ownership) 23 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 0 minutes

<b>Time Spent Total</b>: 18 hour 08 minutes

I think a change in tactics will be needed if I'm going to reach the $5000 goal. with only 3 and a half months left and I'm still not at the $500 in profit mark, I'm going to need to purchase a few larger items on my own with the potential of receiving a fairly big return on them. Now that I have more money, I can afford to take a bit more risk.

I will be looking for items that I think will at least sell for what I purchase them for with the possibility of a large return if they happen to catch the fancy of a particular collector. I have to go on my gutt feeling on a lot of these since it's impossible to do research - when you see something at the flea market, you usually have to make a good guess and go with your feeling if you think it will sell or not. it alsways helps to purchase boxes with a variety of stuff in them since this sort of spreads the risk - if one item doesn't sell, another can make up for it - especially in areas where I'm not familiar with the collectible in question.

I will be going to a flea market this weekend and will be looking to purchase a few items in the $50 to $100 area with the hopes of at least doubling the money when sold.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $398.55

<b>Current Total</b>: $398.55

<b>Inventory</b>: 2 sake bottles (half ownership) 23 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 0 minutes

<b>Time Spent Total</b>: 18 hour 08 minutes

Received a suggestion by email on how to solve my listing time problem:

<i>Regarding the listing time on eBay, don't you have the option to list at a
future desired time for a small added fee? This way you can list in the
morning when you have the time to do as many auctions as you like, but have
the auctions end in the evenings, when more people are able to bid.</i>

A perfectly simple solution that would work except that I live in Japan and use a computer with a Japanese operating system (you can ask Nate all the trouble this causes when he wants me to do something new...lol).

I could do this but I would have to do my auctions through the eBay site instead of through a listing program that I currently use and that would end up taking up more time than it's worth. I started using a listing program because I can list about 4 times as many auctions through an automatic lister than I can by going through the steps on the ebay site.

For some reason, my Japanese operating system messes up a number of the functions that ebay offers - one of which is the setting future times for auctions. I guess I should go and see if I can get ebay support to help me solve the problem, but if any of you have tried using their support, you probably know why I haven't attempted to do so thus far. Maybe if I get a lot more courage...

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $398.55

<b>Current Total</b>: $404.98

<b>Inventory</b>: 2 sake bottles (half ownership) 23 sake cups (half ownership), 5 mini trays (full ownership)

<b>Time Spent Since Last Post</b>: 0 hours 15 minutes

<b>Time Spent Total</b>: 18 hour 23 minutes

I finally got around to listing another of the Star Wars sets and it sold within a day. I had originally been selling them for $5.95 each since I could get them at $2.50, but it looks like I was selling them for less than I could. I decided to try a $6.95 start with a $9.95 buy it now and the buy it now was used right away. There was a $0.75 listing fee + a $0.52 final value fee + $0.75 paypal fee + $2.50 for the set +$2.00 shipping = $6.52 in costs for a profit of $6.43. It will be nice if I can continue that.

I will walk down to the store today and pick up the set to send out and make sure they still have plenty of others so I can relist again.

I also picked up some items over the weekend that were expensive, but have the chance to make a good profit. I will list that info in a bit when I have more time

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $404.98

<b>Current Total</b>: $304.98

<b>Inventory</b>:

Half Ownership - 2 sake bottles, 23 sake cups

Full Ownership - 5 mini trays, 1 wood sake cup set, 1 flag, 1 pair of pants, 2 undergrmets, 3 belts, 1 officer's cap, 1 pair of gators, 1 winter coat, 2 helmets

<b>Time Spent Since Last Post</b>: 0 hours 0 minutes

<b>Time Spent Total</b>: 18 hour 23 minutes

This past weekend I bought a couple of more expensive items. One is a wooden sake cup tray and set for $50 and the other was a trunk of clothes also for $50.

I'm off to start taking photos as soon as I finish writing here. I'm starting to get a bit of a backlog on the items I'ce purchased and want to get them all on auction. I don't need more things piling up around my house.

The wood cup set should be interesting. it was a bit more than I wanted to pay, but I decided to go for it anyway. It's going to be one of those where I lose a bit/ break even or make a lot on it, but I felt it was worth taking the chance.

The box should be a great income earner. I do sell quite a few flags and know that pre WW2 sell for $25 - $50 each. When I looked in the trunk there was a flag, so I figure that will pay for the trunk right there and everything else will be gravy. I don't usually buy trunks because 1) they take up too much space 2) the stuff inside is usually very old and in desperate need of a wash. That was not an exception in this case.

It was hard to resist though because besides the flag were two WW2 helmets, an officer's cap, a winter wool jacket with attachable cap, 2 undergarmets, a pair of leg warmers and 3 belts. All of these are in very poor condition, but even so I'M hoping that the purchase all together will net me over $100. I will put them all on auction tonight.

I picked up the Star Wars set to send and they still have more, so will also continue to list that set. I'm off to take photos...

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $304.98

<b>Current Total</b>: $304.98

<b>Inventory</b>:

Half Ownership - 2 sake bottles, 23 sake cups

Full Ownership - 5 mini trays, 1 wood sake cup set, 1 flag, 1 pair of pants, 2 undergrmets, 3 belts, 1 officer's cap, 1 pair of gators, 1 winter coat, 2 helmets

<b>Time Spent Since Last Post</b>: 0 hours 0 minutes

<b>Time Spent Total</b>: 18 hour 23 minutes

Got to love those surprise ebay auctions! I haven't gone through and done all the totals for the items that ended today (will do that right after finishing here), but it should add a bit of money to the pot when one of the <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6554364996">auctions goes unexpectedly wild</A>: who would have thought a sake cup would sell for over $150.00. I will certainly keep my eyes open for more of that pattern.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $304.98

<b>Current Total</b>: $293.58

<b>Inventory</b>:

Half Ownership - 2 sake bottles, 23 sake cups

Full Ownership - 5 mini trays - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556086307">1 wood sake cup set</A> - 1 flag - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082416">1 pair of pants</A> - 2 undergrmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556100514">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101058">two</A>) - 3 belts (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101770">one</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104050">two</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104945">three</A>) - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556098438">1 officer's cap</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556105206">1 pair of gators</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099003">1 winter coat</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099967">1 winter coat cap</A> - 2 helmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082040">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556083122">two</A>)

<b>Time Spent Since Last Post</b>: 3 hours 11 minutes

<b>Time Spent Total</b>: 21 hour 34 minutes

I ended up listing a total of 24 items today for a total of $11.40 in eBay fees. That included 10 more sake cups of which I'm half owner (so only half fees on them) plus all the items from the trunk except the flag (14 items). I decided to split the winter coat and the winter coat cap into 2 auctions instead of a single auction since the cap wasn't attached to the coat when I took it out of the trunk. I will place the flag on auction tomorrow or the next day when I have more flags to place with it - they sell better in groups. I have placed links to all the auctions. As you can see, none of the items are in very good condition, but I'm still hoping that they sell fairly well.

It's time to start looking for more sake cups. They have been doing well so no reason to stop with them now. My partner has some, but I haven't been over there to see them yet or find out the cost to me for them. I will before the weekend.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $293.58

<b>Current Total</b>: $464.71

<b>Inventory</b>:

Half Ownership - 2 sake bottles, 10 sake cups

Full Ownership - 5 mini trays - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556086307">1 wood sake cup set</A> - 1 flag - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082416">1 pair of pants</A> - 2 undergrmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556100514">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101058">two</A>) - 3 belts (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101770">one</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104050">two</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104945">three</A>) - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556098438">1 officer's cap</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556105206">1 pair of gators</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099003">1 winter coat</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099967">1 winter coat cap</A> - 2 helmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082040">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556083122">two</A>)

<b>Time Spent Since Last Post</b>: 0 hours 0 minutes

<b>Time Spent Total</b>: 21 hour 34 minutes

It was a busy day. Along with listing all the items, I also had 13 sake cups sell. There was a huge difference in their selling prices. As mentioned before, one sold for over $150 while another only went for $2.25. All 13 sold for a total of $380.22 with $37.40 in ebay and paypal fees for a profit of $342.60. That gets split in half for $171.13 that gets added to my total.

With the big selling cup, all the cups averaged a selling price of $29.25 but if I take away that one cup, the average price falls to $10.14 so that one auction really helped.

I will try and place the flag, the mini trays and the 2 sake bottles (the rest of our current inventory) on auction tomorrow. I'd love to make it to $1000 by the end of this month, but it isn't looking very good at the moment. I need to find some more big ticket items and possibly look at different ways to increase the savings.

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $464.71

<b>Current Total</b>: $339.71

<b>Inventory</b>:

Half Ownership - 7 sake bottles, 50 sake cups

Full Ownership - 5 mini trays - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556086307">1 wood sake cup set</A> - 1 flag - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082416">1 pair of pants</A> - 2 undergrmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556100514">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101058">two</A>) - 3 belts (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101770">one</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104050">two</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104945">three</A>) - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556098438">1 officer's cap</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556105206">1 pair of gators</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099003">1 winter coat</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099967">1 winter coat cap</A> - 2 helmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082040">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556083122">two</A>)

<b>Time Spent Since Last Post</b>: 0 hours 10 minutes

<b>Time Spent Total</b>: 21 hour 44 minutes

My partner came by with what she picked up and I have a new supply of cups and bottles now. She picked up 40 new cups and 5 bottles for a total of $250 which is $125 to me. A lot of the cups are older - early 1900 cups - which I'm not sure how well will go over with collectors. Most have chips and the patterns on them are not as colorful or interesting as the later cups. I will start listing those tommorow and we'll find out

[jeffrey]

Re: Turning $20 Into $5000 - Jeffreys Challenge

<b>Previous Total</b>: $339.71

<b>Current Total</b>: $318.71

<b>Inventory</b>:

Half Ownership - 7 sake bottles, 50 sake cups

Full Ownership - 5 mini trays - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556086307">1 wood sake cup set</A> - 1 flag - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082416">1 pair of pants</A> - 2 undergrmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556100514">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101058">two</A>) - 3 belts (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556101770">one</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104050">two</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556104945">three</A>) - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556098438">1 officer's cap</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556105206">1 pair of gators</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099003">1 winter coat</A> - <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556099967">1 winter coat cap</A> - 2 helmets (<A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556082040">one</A> & <A HREF="http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6556083122">two</A>) - 7 hunting badges

<b>Time Spent Since Last Post</b>: 0 hours 10 minutes

<b>Time Spent Total</b>: 21 hour 54 minutes

I was at the local grocery store yesterday and popped into the antiques shop next door and found 7 hunting license badges which I purchased for $21 ($3 each). While these probably wouldn't be worth much usually, Japan prohibits firearms so there can't be a lot of these given out. I'm really interested in seeing how these sell and will put one on tonight. my guess is they will either sell for very little or a lot, so I'm curious to see what happens with them.

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