okay it has officially been 10 days let's talk about the results of my little experiment it's a fruitless thing that you're doing it's just a waste of time it is about price that's what I have learned it's about price hello everyone let's get some light on in here so dark down here in case you can't tell we are in the dark recesses of my basement and this is where I store all of the inventory that I sell not only on eBay but also on my business Facebook page my inventory area as you can see is is pretty lengthy and it's kind of divided up a little bit this whole wall here and all this side everything you can see right here in frame is all of the organized merchandise that I sell on Facebook not Facebook Marketplace but I have a business page with some followers that follow specifically to buy items that I post for sale and I have also recently opened up that page to shipping so that means that my customer base has grown because I do that prior to that I was just doing local pickups but here's the deal I have this side this whole side and this whole side that's all eBay so what exactly is this video about what am I talking about today this is what we're talking about I got to do something with all this stuff I'm getting tired of it since starting to sell on Facebook I have become spoiled I have a video series on my Channel that I call from source to sold and in those videos I talk very specific details about the items that I'm selling on Facebook I talk about how fast they sold I talk about the price points I talk about the instant profits and if you notice I never do anything like that for eBay why do you ask I will tell you because everything I put on eBay just sits here now recently I did do a video discussing my reselling shift the shift that I have when it comes to selling merchandise online I Am shifting a lot of my focus away from eBay and more to Facebook because honestly that is just what has been producing results for me now that's not to say I am giving up on eBay entirely you know I feel like I need a shock to my eBay system honestly because if you follow my channel you'll know that I've been suspended on eBay and only my channel members know that I've been suspended on eBay not once but twice in the last 60 days I know I know I didn't make a video about it because I thought that people would think that I was asking for it or lying about it I don't know people in the uh YouTube comments can be pretty brutal but it's true I really did get suspended on eBay twice in the last 60 days I had an eBay suspension for a really crap reason in my opinion I did a video talking all about it I'll link it below and then immediately after getting reinstated I was suspended for the same reason on an even more innocent listing and so at that point this is something I've only told my channel members I haven't spoken publicly about this but when that second suspension happened it happened in was it June I'd have to look but I think it was June which was about two months ago uh as soon as that happened I was absolutely Furious as I'm sure you can imagine and I went and I pulled down literally a thousand items off of eBay I just completely wiped my eBay store of anything that I thought could cause me problems in the future and I also cancelled my store subscription yeah I I straight up canell my eBay store subscription that's how pissed I was you guys that is how pissed I was I went to all of my active list things deleted almost everything that I thought could potentially put me in a red flag situation because like I said I'm a little salty with eBay right now but that doesn't mean I wanted to just never sell on eBay again and the fact that I was suspended twice in such a short period of time I didn't want to risk permanent suspension so I basically wiped my store clean of everything and anything I thought could raise red flags similar to the reasons why I was suspended in the first place and then after seeing how many things I removed I figured what the hell is the point in having an eBay store subscription why am I paying $60 a month this makes no sense and I canceled it so now my little eBay pity party is over with I threw my tantrum I know there was some people in my comment section that were saying that and you guys are absolutely right I had to throw myself a little tantrum I was really salty about eBay I was really pissed off at the time because I felt like my suspension was completely unwarranted I felt like Bots did it and not only that but I had been having just no results on eBay for months months I wasn't selling things and so I was angry I was upset I got suspended I pulled a whole bunch of listings off I canceled my store subscription so what is next I got to wake my eBay store back up so in order to do that I going to do something very drastic I am going to Mark everything that I have in my store f 50% off I'm going to do it for one week and I want to see what the results are I want to see if I can wake my store back up and I figured that it would be something interesting to share because when you do something as drastic as that for one full week you can collect a lot of data that could be beneficial not only for me but for other people as well but the caveat to this is I no longer have an eBay store so I can't just simply run a markdown manager 50% % off sale all I can do is go in and bulk edit all of my listings and drop the price 50% which in it of itself is kind of an interesting experiment to do because there is this whole idea of if you have an eBay store if you want to put everything on sale to try to drive sales well let's let's rephrase that if you want to put everything on markdown to drive a lot of sales then you can do that but if you don't have an eBay store can you get similar or even better results just simply manually price dropping everything in your store temporarily and get your store back up and running I'm about ready to find out so I have a little over 300 items that are available for sale on eBay it's everything on this wall here it's everything over there for one week I'm going to drop everything 50% we're going to find out what happens we're going to see if I can get the ball rolling and start getting sales again because I tell you guys my sales for the prior few months have just not been very good I'm talking a few hundred a month in sales and that is it which you know honestly is understandable given my situation because I am putting all of my primary focus on selling on Facebook so selling on eBay has just been kind of an afterthought and my sales definitely reflect that but it's a platform that I don't want to let you know sink to the bottom of my reselling ocean so I'm going to throw it a life preserver we're going to see see if putting everything at 50% off can wake up my store the next thing that I plan to do after running the 50% off sale and hopefully I will be able to include all of this in the video but I'm basically going to drop all of my prices 50% and then when I go increase them again I'm likely going to increase them 25 to 30% and then that weekend I also want to send out private offers I cannot send out private offers after dropping all of my prices 50% it just doesn't make any sense because then I'll basically be giving all of my stuff away and I'm for sure not doing that we're not resellers to give away stuff for free we need to make money so my plan is to run everything 50% off or just drop my prices I keep saying 50% off but I'm not running a sale cuz I don't have a store anymore I can't run a sale I'm dropping all of my prices 50% for one full week so it's going to be a Friday to Friday and then at that time I'm going to then bulk edit and raise all of my prices probably 30% and then I'm going to wait and then throughout the whole next weekend I am going to send out private offers and see what happens um and so that's going to be 10 full days of hopefully sales and pushing activity and I will share the results with you guys but for right now first things first I have to go drop all of my prices so let's go bulk edit and do that right now so what I'm going to do is I'm going to come over to my listings and I'm going to go to all of my active inventory so I have 331 active listings right now how many do I have that are out of stock okay there's only five out of stock so that means that I have you know 326 listings that are eligible for sale total quantities of 88115 because I do have some multiple quantity listings and then roughly $199,000 worth of merchandise so I'm going to hit edit all 331 listings and I'm going to select all of them and bulk edit we are going to do the Buy It Now price I'm going to say lower by 50% oh boy here we go let's see what happens now the caveat to this is I might still have some free shipping items in here if I do there's not going to be that many but if I do then this could you know bite me in the butt so we're going to we're just going to see what happens we're just going to play this by ear and see if this was a good idea or a bad idea I think it has been four years now three years three years four years since I switched everything to paid shipping and no more free shipping I actually have a YouTube video where I you know announced that I was no longer going to be doing free shipping and I was going to be charging shipping on every single listing and I think that was three or four years ago uh I'll link it in case you're interested but I I'm pretty sure that everything here should be charge shipping so dropping all of my prices 50% should not hurt me regarding shipping so going to leave all these check marked I'm going to hit submit all submit I have officially dropped all of my prices 50% and we are going to see what happens in the next week am my going to start selling stuff is nothing going to change is everything going to stay the same I guess we'll find out here shortly stay tuned and I'll update you then the sales started rolling in starting with Friday August 16th total of $187 85 in sales Saturday August 17th $119512 in sales Sunday August 18th $22. 25 in sales Monday August 19th $93. 50 in sales Tuesday August 20th $493 in sales Wednesday August 21st $335 in sales and then Thursday August 22nd with a total of $48.
88 in sales so that means that over the course of those 7 days total revenue amounted to 6 $30. 50 there was a total of 29 sales or 29 separate items sold for an average sale price of $21. 74 now that does include the total amount including the shipping charged so that means that 33.
1% of that total revenue went straight to seller costs which were things like shipping labels and seller fees it is now first thing the next Friday morning and these are kind of some of the stats but the reason why I'm recording right now is because I'm just going to go through and raise my prices back up and like I mentioned I'm going to raise my prices back up roughly 30% and then over the course of the weekend I'm also going to send out privatized offers to people a lot of people when they send out offers you just kind of you know you can blanket it and you can just say send everyone a 15% off discount or something but I think I'm going to go through and I'm going to customize offers uh based on the item and how badly I want to move it but I can't do that unless I put the price back up uh because I'm not just gonna you know give away stuff just yet but right now these are the stats you can clearly see over here the the first two days that I marked the price down were the most powerful um and I'm not surprised by this at all it was not because I sold items that were more expensive either there was just more to ship on these days Friday and Saturday those were the two days and of course early Friday morning was when I marked everything down and then the next day I had good results and then while I continued sales here they did just start to drop off I did get one sale first thing this morning as well so I am going to go in here and raise up my prices but you can see already almost $500 in sale and just shy of 1,000 over the last 31 days so that just goes to show that in the last week after dropping my prices I made 50% of the revenue for the entire month and it was a quarter of the revenue that I've done over the last 90 days so dropping the prices definitely did Drve some sales but after this weekend is over I will do an entire recap of uh of all of my results but for right now let's go raise the prices up so to do that I'm just going to go into my active listings and I'm going to say edit edit all 331 listings now some of these items of course did sell they just have a zero quantity but to just make it easy I'm just going to edit all of them going to edit the Buy It Now price going to increase by 30% and apply that's all I have to do I mean they make it really easy I got to give them that so thank you eBay for allowing me to change the price of So Many Items all at once that quickly I do appreciate that just hit submit and there's no charge for doing this which is why you know I always say revise your listings as often as you want doesn't cost you a penny that's that all of the prices are updated so I will follow up with you guys again here in a couple of days and go over all of my notes and uh all of my discoveries during this little experiment I'll see you guys soon okay it has officially been 10 days let's talk about the results of my little experiment can't really see a big difference however I did get some results and I want to talk about the results of my little experiment and then after I go over the numbers I want to talk about what I feel like I learned from this experiment and basically what I plan to do with eBay moving forward so after the first initial 7-Day test was done I did raise my prices back up 30% and then the next day I sent out private offers on basically everything that I could there was a few things that I chose not to send private offers on just because they're not needing to be moved that fast I think that the price that they were at was a good enough price I just need to wait for the the right buyer but there was a lot of items that I did send special offers on and I think it totaled 105 offers went out over 100 private offers and I did not do bulk offers I did do one at a time I did not film that process because that was tedious and frankly I was just sitting on the couch watching TV scrolling through my phone sending offers one by one didn't want to record that process so 48 hours after sending out those private offers I got four sales from them and that equated to $85. 74 in Revenue which after 19. 5 selling cost that was a net sales total of $636 the average sale price for those four items was $21.
44 and after selling cost that made the net ASP $17. 25 so now the seller cost over the weekend with those four accepted offers that was a lot lower than the prior period just simply because the items that had the offers accepted were smaller and they were a lot less expensive to ship uh a lot of people might not know that the seller cost associated with selling on eBay is not necessarily the cost of the final value fees it's actually the cost of the shipping label that you print through your eBay account also so that's something else I do see a lot of eBay sellers say oh my gosh I'm paying 30% in eBay final transaction fees no it's not 30% in eBay transaction fees the transaction fee is only a portion of it the rest is things like like shipping labels that you pay to eBay in order to ship the item out little information that you might not have known before so that also means that the revenue collected that $85. 74 that was also with shipping charges because I do not do free shipping I do charge shipping which bonus information that's also really handy if you accept offers or send offers on eBay it's always a good idea to charge shipping in addition because if you have free shipping and you're sending or accepting offers you really have to you know think about how much money is going to have to go to shipping labels and you might not necessarily know how much it's going to be cuz you know shipping labels depend on where the buyer is so if you send out a $20 offer and your item is free shipping you might think it's only going to cost eight bucks to ship it to somebody but then it turns out they're like in Hawaii or something and it cost 12 and you could be in the red just on shipping alone so if you're going to send or accept offers make sure to charge shipping that's another look handy tip so let's talk about the 10 days overall the 10 days spans August 16th to August 25th during that 10day period I was able to amass a total gross sale revenue of $743 63 which is up 596.
52673200 almost 600% yeah my sales were in the toilet the total seller cost came to 33. 7% which was a total of $250. 184 which left me with a total net sales amount of $447 126 so that means of the $743 revenue that was collected the amount in my pocket was actually $447 I sold a total of $34 items over those 10 days with an average sale price of $21.
87 and now if I take out that 33. 7% seller cost that makes my actual net average sale price $14. 49 so that means for every one of those 34 items that I sold I made $14.
49 for each one of those items I shipped out and that's actually really good information to know because that is actually the amount that was deposited in into my account after the shipping label was paid so that means that if my average cost of goods was $2.
