List It And Forget It – LiFi
I’m a big believer in the LiFi method of selling….List It and Forget It. I have 3600+ items in my store and no time to micro manage my them. So I list an item, put it in my inventory and then forget about it until it sells.
Here’s an item that was listed February 5, 2011….sold it November 25, 2015. My notes tell me it cost me $.50 at Target on clearance. So if you calculate my original cost, the listing fees of $.05/month my cost is $3.20. I’m not going to make a TON of $$ on this but I did make something. All my work is done by the time I list something (and my picture is AWFUL…picture, one picture, that’s how old this listing is!) I love it when my return is realized in 3-6 months, but even after 4.5 years, I can still make SOMETHING off this item.
What about the expense of relisting an item, month after month?
Here’s another listing where I calculated the monthly expense for a listing that was over 5 years old…FIVE YEARS!
I had 28 of these when I listed them on January 3, 2010 and 5 years, 8 months and 17 days later, on September 19, 2015, I finally sold the last one. Good bye to my little red solar path lights. I can’t say I was sad to be done with you!
I list all my items GTC (Good ’til Cancelled). That means that every 30 days eBay will automatically relist my item until it sells. I have an anchor store so after my first 2500 items it only costs me $.05 per listing per month or $.60/year. So the TOTAL listing cost for this 5 year listing was $3.45…Here’s a breakdown of the profits for a 5 year listing
Initial investment in 28 items at $2/ea = $56
Listing fees = $3.45
Selling and PP fees at 15% = $75.59
Shipping at $3.25 each = $91
Total income from sale at $17.99 each = $503.72
Less expenses related to sales = $226.04
Net Profit = $277.68 or $9.92 each
Not a bad profit on a $2 investment. When I bought these I LOVED them and thought they’d be a hit and I’d sell them all before the next season. When that didn’t happen I didn’t throw in the towel and dump them at GW, all my work was done and I just needed to let it ride to realize my profits.
These weren’t taking up space I needed for other things so there was no harm in me just letting them sit for that long. Quicker sale and profits realized is a better business plan, but if you hang in there you can still make some money.