I bought three more items to get the additional money invested from my last sale I had, which was the largest profit I have made on an item. I thought about what I wanted to do with the large amount at, and had a couple of different thoughts.
First, was to go out and buy multiple items all at the same price point to grow the number of items I had to increase the probability I will get sales more often. This seems like a reasonable way to go about this with what I am doing in building up from a small amount over time. However, with me being close to 30 items in my inventory already I have an expectation to sell at least one item a month at this point.
The second thought I had was to take all the profit and put it into one item and try to grow the overall amount of the value in the inventory much faster. The large amount of profit I made allows me the opportunity to try and grow the overall level much faster, if I can have a higher value item which I can flip. The reason behind this is that I can find items with a lower overall profit amount, but they will still be a larger profit amount in comparison to what I have been able to find up to this point. However, this also puts me in a position where I would need this item to sale to unlock a large portion of my inventory, or I will be waiting for another time when one of my lower priced items to sell which also has a large profit with it to be able scale larger.
After I thought about both of these options, I decided on a blend of them. The great thing in what I am doing is there is no set way to go about doing this and what I decide is really a good exercise in remembering in the long term most of the items I buy now will turn into larger and larger amounts as time goes on if I am patient.
I ended up buying three new items to get myself fully invested again. The first item I bought was a leather gun holder. It cost me $8.11 with tax and I picked it up before the year changed and have it priced to double my money. Looking at the other similar items to it online I was able to tell that these sell regularly and I have a reasonable chance to sell it fairly quickly. I will see how this turns out.
The second item was a board game in its sealed wrapping. I bought it for $3.78 and have it priced below all other offers. If it sales I can get close to doubling my money again. I don’t have any expected time frame on how long it could take to sell. Adding it into the inventory just keeps me with the expectation of one sale a month overall.
The last item I bought puts me overinvested again, because I bought a piece of music equipment for $43.30. This is a far outsized purchase based on what I’ve done at this point compared to everything else I have in the inventory. I purchased this from a pawn shop after haggling the price down to a level I thought would give me a reasonable level to make money on it. I set myself with a potential profit at $15 on this item. As I wrote about before, if I can sell this item at the level it is at I can get the inventory growing fairly quickly. If I don’t sell it within three months, I will get it repriced to move so I can keep the larger amount I have invested in moving into other items. I don’t want to tie this amount up for too long without getting some turnover out of it. Turnover is where a lot of the power of flipping comes into play when added into the profit percentages. I might lose money on this item, but this is a good way to try and scale up.
Current Inventory
| Item | Cost | Date Purchased | Sold | Profit |
| Ireland Puzzle | $3.45 | 6/27/22 | ||
| NFL Puzzle | $2.37 | 6/27/22 | ||
| 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 | ||
| *Snowglobe | $3.45 | 11/30/22 | ||
| *Tealight | $2.37 | 11/30/22 | ||
| *Gun Holder | $8.11 | 12/29/22 | ||
| *Board Game | $3.78 | 1/4/23 | ||
| *Music Equipment | $43.30 | 1/4/23 | ||
| Overinvested | $5.18 | |||
| Total inventory amount | $117.77 |