Several months back a coworker pointed me to a bargain hunters bargain. Brand new GPSr’s for 80% off the suggested retail. A five minute check of eBay and related Internet sites revealed a nice profit could be made with a conservative retail price point.
I figured I could turn a tidy 100% profit in 2 weeks. Invest $300 for a return of $600! The Christmas season was only weeks away – that would only aide my endeavor.
That was the plan. You have guessed by now that that plan turned out less than ideal. After 2 weeks of listing my retail inventory on email for a steal of $199 plus free shipping I did not even get a nibble. Craigslist, nothing. I notice there are more than a few competitors on eBay selling for almost cost and even a few under my cost. eBay finally says they’ve given me enough free postings so I began listing solely on Craigslist.
Today I finally sold the 3rd and last unit! Total profit for all three units was approximately $100. $300 invested $100 profit. Not bad if it hadn’t taken ¼ of a year to sell the units.
Future forays will likely be more cautious.
