he sells them to you at ￡1, you put them for sale at ￡1.99 with a sticker saying 60% off rrp. The very gullible buy it thinking they have got a bargain. The truth is the item in fact is probably worth at most the ￡1 you paid the manufacturer.
Buying an item for resale on ebay you have 2 costs, approx 15% of the selling price as fee's to ebay/paypal and postage. The postage is often the killer. You need to do research to ensure that you can buy cheaply enough to sell the item including P&P and a profit for your self and still be able to undercut local prices for the same item. Your understanding of buying in bulk will not the the same as the manufacturers idea. Take a simple example, a Biro. People like Rymans or W H Smith with multiple outlets and hefty bank balances will buy them 100,000 or more at a time so can negotiate a very competitive price per item. You try and order 500, which you would consider, as a new business, bulk and you would get no discount or at best a minimal one.
A classic example of meaningless rrp figures will be found in watches, there are so called designer bran watches for sale on ebay that look good at a first glance but are poorly made when you look closely, the are advertised as having rrp of ￡299 and sold at ￡49 - ￡75 . Real Jewellers say their true value is ￡25 at most. No one receiving one would think they are worth remotely near the so called rrp once they take a close look at them.
No one buys things at rrp.
With any business that involves buying and selling, you need to know your market. Buying in quantity and selling single items is what retailing is all about. However, there are a lot of people doing the same thing. If someone is offering the same goods on eBay at a cheaper price, you're not going to sell yours whatever the RRP may be.
Caset Y is right, but volume also matter. Let's say you can buy something for $2 and sell it in eBay for $10, you can make money. But, it you can only sell 1 or 2 day, you aren't going to make a business out of it.
Don't forget about shipping...
It all depends on cost and pricing, you can make money if there is enough of a margin, you just need to be very diligent when calculating.
No. There will be plenty of other sellers who will undercut you. RRP means nothing nowadays - and few things sell at their RRP!
if you can get them like that so can others everyone and their dog is doing this university PHDs are doing it it's all we do so good luck with that you will need it
Say if I were to purchase electrical items in bulk, at a lower RRP price per unit, and then sold these on Ebay at the actual RRP per unit. Keeping in mind that EBay takes a cut of the profit, could this be turned into a working business? Also, is there a site better than EBay for this?
