I went to the same spot where I’ve purchased the majority of my inventory so far, Goodwill, and picked up four more items to bring the total items I have for sale to 26. I overinvested again because I found four items which were all at least two times the amount of profit for the amount I paid for them. Even better was I knew that it would happen at a certain point that I would find an item which I could sale for close to ten times the amount I paid. The item was the coffee grinder. It is brand new and had never been opened. This type of coffee grinder sales for around $90, and I am pricing it below this so I can move it very quickly. When the grinder sales the $5.94 investment will turn into over $50 hopefully. This will allow the inventory to move over the $100 hurdle and this should help me move into a higher average amount for my inventory which gives me a wider availablity of items to buy. With the Christmas buying time underway I hope to sell this coffee grinder, as quickly as possible. The other items have good profit potential too. My change jar flip is going well at this point.
Sale #6- Globe Puzzle
Later in the day after I had gone and bought the four additional items to sell to keep myself reinvested I had my sixth sale. I sold the Globe Puzzle for $5.40 and ended up making $4.03 of profit off of it once all the fee and shipping were paid to send the item out. This item was one of the lowest amounts I have paid for an item and shows a very small amount can be profited on at a very large multiple. I made 6.7 times the amount I bought the puzzle for.
If I had an even smaller amount than I started with, say around $10, I could have been very strict with my buying criteria and not spent more than $.60 per item when buying. It would have taken me longer to fully invest $10 at $.60 per item, but I could have made it so any item I sold would have earned me in excess of 3 times or more on it when it sold. I didn’t see the value in doing this because I already had the amount of change in a jar, and it had been sitting there for a while.
However, the $10 amount could someone’s starting amount and $10 can be made by anyone if they are looking for a way to build something up over time and let it grow. You could help a neighbor clean up their house for $10, ask a family member or friend for $10, pick up aluminum cans till you have $10 worth, get a $10 loan from someone, or any way you can think of to easily have $10. With $10 you could buy 16 items and it would in theory take you a couple of months to make a sale on average. Once you made a couple of sales, reinvest the profit each time, and if you took the time to ensure you would make at least 3 times the amount you could ramp it up quickly to a sale a month, because you could have an inventory of 30 items. With 30 items you could make $3-$5 a month in profit off of your $10 investment if you never grew it past the 30 items mark. Small amounts can keep growing with patience and thought about what you are doing.
Current Inventory
Item | Cost | Date Purchased | Sold | Profit |
Ireland Puzzle | $3.45 | 6/27/22 | ||
NFL Puzzle | $2.37 | 6/27/22 | ||
Globe Puzzle | $.60 | 6/29/22 | 11/30/22 | $4.03 |
Animal puzzle #1 | $1.18 | 6/29/22 | ||
Animal puzzle #2 | $1.18 | 6/29/22 | ||
Music Album puzzle | $1.18 | 6/29/22 | ||
Iowa Puzzle | $1.18 | 6/29/22 | ||
3 Hole Punch | $1.18 | 6/29/22 | ||
Serving Dish and Bowl | $9.29 | 7/20/22 | ||
*Star Wars Puzzle | $2.37 | 7/25/22 | ||
*2 Hot Wheels | $2.10 | 8/3/22 | ||
Star Wars Puzzle | $1.18 | 8/31/22 | ||
Animal Puzzle | $1.18 | 8/31/22 | ||
Animal Puzzle | $1.18 | 8/31/22 | ||
*2 Coca Cola Puzzles | $6.91 | 9/13/22 | ||
*Christmas Coffee Cup | $1.18 | 9/13/22 | ||
*Stapler and Stapler remover | $.54 | 9/26/22 | ||
*Floral Plate | $2.71 | 9/26/22 | ||
*Old Spice Cologne bottle | $3.25 | 9/26/22 | ||
*Wood block set- kid’s toy | $2.17 | 9/26/22 | ||
*Japanese Stein 1 | $3.25 | 9/26/22 | ||
*Japanese Stein 2 | $4.33 | 9/26/22 | ||
*One, two, three infinity | $1.07 | 10/19/22 | ||
*Satellite Puzzle | $2.37 | 11/28/22 | ||
*Coffee Grinder | $5.94 | 11/30/22 | ||
*Snowglobe | $3.45 | 11/30/22 | ||
*Tealight | $2.37 | 11/30/22 | ||
Overinvested | $.24 | |||
Total inventory amount | $67.47 |