Tuesday, March 4, 2008
The New Move Business Venture Update
So far, business has been good. All sales that I have made have yielded no less than 100% profits. In the month of February, I sold 1 high end travel bag, 1 Chrisitian Audigier shirt, 1 Pair of limited Edition Nike Air Force One's, 5 Pair of Rock and Republic Jeans, and 1 pair of True Religion Jeans. In the month of February, I wanted to explore what the market was like on eBay with items outside of my usual selling genre. Thus, I posted an auction for a high-end London Fog Travel Bag. While I did make a profit of the sale, I sold the bag for a lot less than what I wanted. So, as you can imagine, I won't be venturing into that market anymore. However, I was relatively pleased with the other host of items that I sold. The Christian Audigier shirt yielded the highest amount of total profit, yielding almost 150%! The Rock and Republic (R & R) and True Religion jeans also did quite well. On a whole R & R jeans sold considerably better than the True Religion jeans, explaining why I made the decision to buy and sell more of them. One of the secrets to my success has been offering incentives to purchase from me. On about 3 of the jean auctions, I have offered a coupon of $25 in Macy's money ($25 off of a purchase of $50), redeemable in any Macy's around the globe (I was given $300 in Macy's coupons as a bonus and have really had no desire to use them. However, that was short lived once my wife got a hold of them!). All in all, so far I have received 4 comments of positive feedback. But, as with all transactions in eBay, you always have different problems and issues. A buyer in New York alerted me to the fact that he had not received the Christian Audigier shirt that he paid for nearly a week and a half ago. Due to the fact that I always get insurance on my packages, I was able to go to the post office immediately, and locate this item. As it turns out, the package was delivered to the persons home, but no one was home to receive it. Thus, the package has been sitting at the post office for a couple days. Thankfully this situation worked out without any serious repercussions. Another issue that I am facing is that a buyer from Texas who won an auction for a pair of R & R jeans never paid. Th person told me that they were having problems with their Paypal account, and wanted to see if they could send a money order to pay for the jeans. Needless to say, I have still received no payment. As of now, I have alerted eBay to the situation and filled out a Non-Paying Bidder Alert. I have thus re-listed the jeans, and hope that the winner of the new auction will pay promptly!