With guitars, I have changed my strategies over the years.
To save you a lot of time of trial and error, I will tell you probably one of the better ways to make money buying and selling them.
TO GIVE YOU AN IDEA FIRST:
I used to import them from China. I was trying to compete with a big player on eBay and what I discovered is that for this method to work, you must corner the WHOLE market. Pretty hard, unless you have a huge credit line.
So, obviously, importing guitars from China is not for you.
Another method would be to buy Overstock/Closeouts/Salvage from chain store guitar shopts. This will cost you not as much upfront, but it will be a good $500 per 15 guitars.. All name brand of course.. All guitars you
would see in normal shops..
Basically, with salvage, you can buy them for about 25% of the wholesale price.. So, a $400 guitar likely would wholesale for about $300 and you would pay about $60 for it. So $60 bucks for a guitar that sells in stores for $400.
The negative side to this is only that you have to buy atleast a pallet worth, which will run you atleast $500, could be more.. And there is also about 20% of the guitars will not be in the best condition. 75% of it will be in like new condition and will be easy to sell for double or triple what you paid, sometimes even more. The other 25% can be sold easily for what you paid for it, sometimes a bit more..
So, it is a good way to make money. You will atleast double what you paid for it overall, sometimes triple.
BUY AND SELL ON EBAY:
Probably one of the best ways for the little guy.. If you know how to do it right, that is. AND that is where I come in. I can teach you how to know EXACTLY what a guitar is worth to the eBay community and then find auctions where you can get that guitar or guitars for half what you can sell it for..
1. The idea is to look at the auctions for guitars that are either ending soonest or just listed.. In the case of ending soonest, you lookat them all. refer to this link:
Or, you can sometimes find some person who has no clue what they are selling in the "Newly listed" as Buy it Nows. Say a wife selling her husbands Fender for $50 bucks as buy it now. You jump on it and turn around and sell it for $150.. It happens:
2. Once you find an auction you think looks pretty good, open another browser window and go to eBay's completed items and search the history of that model of guitar to see what it was worth to the eBay community last week. For instance, an 1996 Fender American Strat:
As you can see, there is still a wide variety of prices. Often, there are only two factors that create this:
A. The condition.
B. What is included,
C. Bidders demand at that day in time. (maybe color is not what they want, maybe certain higher bidders are not around, etc).
THE POINT: The point is that if it sold for $800 to $400, you can see some flucuation.. Most of this is likely "bidders demand" at the time of sale.
SO, that means, if you bought this one for $400, you could likely turn around and sell it for $700 fairly easily, within probably a week or two..
Make yourself $300 on one sale.
Its kind of like the stock market. I have done this MANY times successfully with camcorders, data access points, vacuums, fish finder monitors and many other items..
TO MAKE EVEN MORE PROFIT:
You can buy in lots and sell for double, triple, quadruple and even higher than what you paid. I
have gotten with some "lots" 10 times what I paid when I sold the items individually..
Look at this link:
Erin W. <firstname.lastname@example.org> wrote:
I am forwarding your e-mail to Tony. He is the Owner of the Company and he is the one you will be working with.
]I only process the payments and send out the initial e-mail, to tell you to contact Tony at email@example.com
for all future correspondence.
We appreciate your business.
From: "Mike Leininger" <firstname.lastname@example.org>
To: "Erin W." <email@example.com>
Subject: Re: ITEM #9509352186
- SELLING INTERNET EBOOK BUSINESS + FULL SALES TRAINING
Date: Sun, 25 Jun 2006 21:54:51 -0500
I am interested in reselling your instruments on ebay. Is this like a dropshipping deal or how does it work? Do I pick and choose which instruments I want to sell? Because your ready made auction templates link to several different guitars, etc...
Please explain this to me.
If it's not a dropshipping thing (with you) do I first list an auction, get shipped the item, then reship to my buyer? Or do I need to stock these myself?
Thanks for your answers.
----- Original Message -----
Sent: Monday, April 17, 2006 12:40 PM
Subject: ITEM #9509352186 - SELLING INTERNET EBOOK BUSINESS + FULL SALES TRAINING
Thank you for purchasing my personal help and coaching to help you get your ebay sales/business going..
First, I would like to give you access to my website, which includes all the content for the automated eBook Business, along with strategies, tips and more for selling on eBay. http://www.titanicimports.com/members/
Second, my personal email for coaching is firstname.lastname@example.org
. Contact me at any time, when you want to start the coaching. What I will need from you on your first email is basically a rundown of what you would like to do/sell on eBay. Give me your
ideas for what you would like to do and I will help you with getting started.
As stated above, please send All future correspondence to: email@example.com
O'REILLY: All right, Lis ... I sell bibles in Tarzana, CA. Lenny comes in, & he's got a ... beard. He's wearing a dress ... I have to hire him?
LIS WIEHL: You can't not hire Lenny.
O'REILLY: Yes, but ... Don't you see my business point here? ... the state of Calif .. is forcing me to hire people that may be detrimental to my business.
LIS WIEHL: appearance shouldn't matter. When you're selling bibles.
O'REILLY: Ms. Rivers, you understand ... better than Lis because she went to Harvard Law School,
and that disqualifies her from common sense.