Okee Dokee Artichokees……….
Yesterday’s post was super-dee-duper popular!
You all have an interest in seeing what the furniture can be “flipped” for.
Before I tell you the results and what I would have listed this for……
Let me give you a little background, in case you are thinking……
“The girl just started painting furniture. What makes her think she is qualified to show anyone how to flip pieces?”.
Just so you know.…..I have always bought and re-sold furniture.
Either in a consignment or ebay or Craigslist setting.
I was a flipper…..before “flipping” was cool.
I did it to stay at home with my kids. I would yard sale on Saturdays….unload at a friends “upscale” consignment store and at the same time, began my own “ebay” business, selling Donna Karan seconds.
It has always been my side hobby, when it wasn’t my main income, for the last 20 years.
Just so you know.
You are sitting there with your mouth open…..impressed to no ends, aren’t you?
I’m a PROFESSIONAL CHEAPSKATE PEOPLE!
So, for once, I feel like I really, sorta, kinda, maybe, know what I’m talking about….a little!
I’m that confident?
The twist now…..I’m painting and updating pieces for re-sell.
That is new to me.
So, what I am telling you is only my opinion.
That is why I wanted all of you to play a part in this……
We are all the key to pricing.
Let me show you what I’m talking about.
I have broken down the comments into price groups. If someone said…..”I would say 50 but I would spend up to 75.00″……..then they may have went into two diff. price ranges.
It just gives you an idea of what people would have spent, if they saw this ad on Craigslist.
Here is what you all said you would spend and how many in each price range.
30 to 40Â (2) This is a little surprising and a good reminder to me that I am SUPER cheap, so I have to remember that some people will spend much more than I would.
40 to 50 (5)
50 to 60 (3)
60 to 70 (6) I would have thought majority would be here…..
70 and upÂ (10) SUCKERS!
So, what would I have listed it at?
My listing price would have been 75.00, although I would know in my tightwad heart, that I would not go below $65.00.
And many of you hit on the reason that I place my pricing where I do.
This comment from Linenandoak sums up my thinking:
$75.Â Turned out awesome!Â If it were in a she she poo poo store—$300!
Craigslist clients are not shopping in the “she she poo poo store”. They want a deal.
It can be a win for both parties.
If I sell in the “she she poo poo” consignment store, they will probably price this table at $120.00.
My cut will only be a percentage of that. Let’s use 50/50.
So let’s say that I would get $60.00….maybe, if it sold without discount. That is why I know that I do not want to go below $65.00. I would rather place in the consignment store, when I start hitting close to what I would get from them.
I want this to be a win/win to sell this item on Craigslist.
So, buyer needs a deal and I need a better profit.
Therefore….in my mind…$75.00 is a pretty easy sell. Buyer gets a deal..AND…I get a higher profit.
I am cheapy, cheapy, PROFESSIONAL CHEAPSTER…..so, sometimes, even when they are pricing my items for the “she she poo poo” store….I would think……”I WOULD NEVER PAY THAT!”
I squirm, gulp, get embarrassed and think they are way over-rating my stuff.
I have to get over myself.
I need to remember that, I may NEVER pay that…….
That’s right……I would not.
But someone else would.
That doesn’t mean that person is spending too much either.They may not have the skill to transform a piece…they know that they can’t afford it for “real” retail and they may be tickled to death to pay the consignment price.
So, when posting on CL, I have to be careful to not price my items too low.
I am bad about that….and before I even get my ad barely posted….they are sold.
It happened with both of my benches.
I priced them too low.
They went immediately…and literally, I had people asking for others, which I don’t have……
I missed out because I priced them….as if I would buy them.
PROFESSIONAL CHEAPSKATES cannot price like THEY would buy them.
So, it is always a learning experience.
Your market is where you live as well.
You need to feel out your market….but if you are looking for extra income…..
I do know, that for 20 years, “flipping” worked for me.
Did I also mention the fact that I love sales?
I will give you a couple secrets about my ad tomorrow.
I bet you didn’t even notice them.
Why I do NOT price my items based on what I spent on them.
That is very important.
So, are you guys awake?
Teacher to student here people……
Put your hand to the screen….
My hand is on the screen….
We have bonded grasshoppers.
You are my sweet, little, flippers…….cutie patooties.
Have I bored you to death?
Let me know…..
ps don’t forget that I am also having a giveaway for THREE pint selections, of “Milk Paint” on Facebook
I’m linking up to;