Anyone ever consider dumping a standard job to go out on their own?

madmax

Any "job dumpers" out there? A couple friends and I have been talking about whether or not you could just dump an average job and make out as a "rambler" on ebay, audiogon and such. You know, pick up deals, go to estate sales and then in general just become a junk (sorry, a dealer in exotic goods) salesman on the internet. It seems a lot of people are doing it. Now seems to be a good time with very little government restriction on internet sales. I'm considering the 40K a year income group. It just seems to me that a person or group of people experienced in picking up cheap and selling at a good price could really profit once they got their act together. Do you think it is possible?
madmax

nadams

Here's my thoughts on what it would take to make it work-

1. You'd have to build up inventory before you quit your full-time job in order to have enough to have money after the paychecks stop coming in.
2. You'd have to be in an area with a lot of good deals. The best I can get is the odd estate sale, yard sale, or good friend. If you happen to have a magic desk..........


Just a thought.... (two, rather...)

madmax

So far I've tested the waters a little. A friend and I bought a guitar on ebay for $600 (before 9/11 when prices were high) and sold it (after 9/11 when prices were low) for $800. It was just an urge we had and we bought it just for re-sale with very little thought. (about 2 minutes worth). Beyond that I have purchased 3 Jolida amps at an average of $400 each and they regularly sell for $900+ on ebay depending on pic quality and description. One was advertised as a "piece of crap that just stopped working after a few weeks and was worthless" by the seller. Turned out he had the tubes in the wrong positions. (maybe a crafty wife was sick of his addiction???) I'm sure I could sell them for $800 to $1000. I've bought many things on line for far less than I see other people pay. Sometimes there is the element of chance with no pics and poorly worded descriptions. Over all it appears to me that 99.0 percent of the sellers are looking to get rid of an item rather than to make a profit. I'm not talking ripping people off here. I'm talking about finding the right items and getting a reasonable price out of them. I've personally paid more than things are worth just because I really wanted them. There are a lot of people like me out there.
madmax

Pauly

never know till you test the waters yerself! Good Luck!

Tour2ma

Except for the "buy high - sell low" approach... lol.... I agree with max's post...

I too have nabbed ebay items that appear to be underpriced at present (downturn) with hopes to resell at a profit, but these are likely to yield only $100 - 200 each. It appears to me that the odd BIN price that is way undermarket is the only real score available there though. And they are few and far between... nailed three so far with a probable return of ~$1500.

If you want to make a go at it as a living, then estate sales, garage sales, pawn shops, flea markets and local papers are the better sources for profit.

wallstreet

You would need to make considerably more than you're making at your full time job to cover insurance and taxes.

faster100

Hey Madmax,

This is what i do, and have for almost 5 years.. However it doesnt supplement an entire salary how i do it, But my wife makes great money, we have kids and daycare would cost 100-150 each kid a week.. figure that out and so we decided for me to stay home with the kids, being i had hurt my back at work anyways..
I have been doing really bad over the past year since my daughter was born last year i have been in a slump.. But i hit the flea market everyweekend.. We go to junk/antique shops.. on the weekends.. yard sales when we find em.. auction houses.. even have bought things for our own collections and later decided to sell and made money.. however buying on e-bay to resell is a high risk, and sometimes leaves you with the item in hand.,. estate sales are a great way to go if you and your buddies have the extra cash to put upfront.. I never do esates because i can't afford to buy a whole house worth of stuff upfront and hope it sells.. multiple people doing this together would work great!! However again, keeping track who does all the listings, pictures, who has the account (IE: has the fee;s taken from their checking account/or credit card.. becuase you cant have 4 peoples names on pay-pal or e-bay.. you have to see who you want to be incharges.. if you need/want any suggestions or help let me know... I also build computers on the side as income.. i just built my UPS lady a computer and she told her friend, so i may have another job.... word of mouth works great!! I have sold dozens of glass items to Japan, coleman items to them also.. you have to find your nich.. selling everything and anything isnt always a good plan, IMHO.... buyers get to know you for what you sell, instead of a junk peddler of anything... I have many customers who know i sell deppression glass and come back to me, japan bidders as well.....

dorokusai

My friend at work used to buy an enormous amount of collectibles, Harley Barbies.....Special Edition GI Joe...blah blah, and made out very nicely. He said with all the shipping, tracking auctions, dealing with possible disputes, etc...it was very mentally taxing and time consuming. You may not have the small items that he dealt with daily, but beware the time that each item takes for turn around. Other than that, go with your gut feeling, and make your move.

faster100

Good call doro and right on the money.. people look at me and say, you sell on e-bay, likes its easy.. no work just sit back and the cash rolls in, No actually its alot of work.. Ok listing one or 2 things like the guys do around here is pretty easy.. post a pic to look at.. easy. But try posting 10,20 and 30 auctions in one night all by hand.. post 1 -4 pictures on each auction, the hard way.. not with the easy e-bay picture host they have now.. but posting html code from a server into the auction, ive done it and it is taxing, I was doing my neighbors auctions and mine for a few weeks until he didnt want to learn his self and expected me to keep posting his auctions.. i put a stop to that.. and stressing over if your getting paid or not.. when its your well being on the line if they don't.. maybe thats why i get so tense sometimes.. and on top of that.. I do alot of e-bay stuff and take care of 2 kids.. including packing stuff and shipping with them being my wife works till 4:30, home at 5.. its to late to wait till she gets home.. Its work and its not easy... to make 40k a year is a dream on just hitting flea's and junk stores.. A big dream, Good luck though...

dorokusai

Faster - I feel your pain. I have sold and purchased about 70 feedbacks worth of stuff, and it is stressful sometimes. Luckily my overall experience is outstanding, but you never know who is around the corner. I am sorry to hear about your back, you should use the woofers in the RTi150's for massage therapy. Just don't hook up that AMC amp. :eek:

faster100

actually i am hurting from moving these 81 lb 150's.. stupid to move them myself..