Treasure or trash, turn it into cash!
By Stephanie Foster/ sfoster@cnc.com
Wednesday, April 19, 2006
You've suffered with your husband's toy train collection forever. Ditto the dusty white porcelain poodle on the mantle, his Aunt Millie gave you as a wedding present. You're dying to get rid of them. Hubby agrees. But there's a problem. They're too nice for a yard sale, but not valuable enough for an auction. What to do?
Ebay drop off store to the rescue.
Of course, if you are computer savy and have a digital camera, you can post items on eBay yourself. But some people don't have the patience, time or knowledge.
"Auctions generally run for seven days and you have to be around to answer questions," says Brenda Colgan of A&B Eclectic Auctions, an eBay drop off store in South Yarmouth. If questions don't get answered, buyers move on to someone else.
Colgan was talked into buying the business by her niece, Amanda Chester, 21, who is an eBay wizard. The two added another employee, Tara Wetherbee, when business began to boom. They have already posted 5,776 items since January 1997 and were one of the first eBay drop-off stores in New England.
"People won't deal with you unless you have a high rating. We have 99.8 percent positive feedback," says Chester, who has been in the business since she was 15. "I got good at it," she says. "I love it. I've learned a lot more here, than in college."
She admits some people are reluctant to deal with her because she is so young. "They think I'm a little kid. I may not know about coin collections or antique jewelry but I know eBay. Some guys came in with sports stuff and wanted to wait for Brenda." But Chester won them over with her knowledge. "They were blown away," she says with a big grin.
What's hot?
According to Chester and Colgan, skim boards or wave riders were hot last year; also collectible toy trucks. "We had a collection of Corgi's go to England. About 25 to 30 percent of sales go overseas. We're Interested in business overstock. Good things. Musical instruments, high end audio equipment. Things that are easy to ship that sell for over $50," says Chester.
Other categories include memorabilia, sporting goods, antiques, vintage items, collectibles, electronics, tools, equipment, designer clothing, jewelry, auto parts, boats, motorcycles, and furniture. But please note, heavy or large items must be picked up by the buyer. "We had a $5,000 dining room set the owner just wanted to get rid of - that sold for $200. The people drove here to pick it up," says Colgan.
What's cold
"Original art by unknown artists doesn't bring much money. But we do sell well known names," says Chester. "Stained designer clothing. Chipped anything. We don't misrepresent anything. We point out the flaws. I had a Hummel come in that had been broken in three places and repaired. It goes for much less. Crazing is all right. But chipping counts on eBay. People can buy a perfect version for a few dollars more," says Chester.
Surprise, you made money today!
We had a fishing reel that sold for $6,300. That was the most unreal thing to sell for that amount. It was rare -- one of 10 in the world. People on ebay know when thee is something valuable. We keep a Wall of Fame. We had an old camera sell for $1,200 and a pair of discolored, pitted, vinyl chairs that cost $24 for the pair sell for $1,000. They were made by a special designer in the 50s.
Tips for success
Package items together like a group of baseball cards.
Mention designer names, labels or manufacturers. It makes it easier to find. The word crystal competes with millions of items and gets lost. Add Steuben and it makes it easier to find.
Always include a photo.
Start the bidding low. If you have a $200 item, start it at $49 to get people interested. Bidding builds.
Bring in the story, history or retail price with the item.
Be ready to settle for less than the reserve price if it's close enough.
Forget book values and insurance appraisals. The price is set by the buyers.
Fly or linger?
Some weeks are busy. Others are slow. Some times thing fly other times they linger. There is no knowing. Sometimes, customers even use the eBay space as an ad. "We have a woman who makes 'eternal roses' out of sea shells. None have sold but she pays us $10 a week to be on eBay. She just wants the name out there," says Colgan. All items start at $49 and are expected to receive one bid. Listings with a higher starting price or reserve price require a $20 payment up front to cover costs in case the item does not sell. If the higher starting price or reserve is met, the $20 fee reserve fee is refunded.
Here's how it works
A customer brings in an item with a minimum value of $50 and any background information. The trading assistant looks it up on eBay to determine the value. The customer chooses the listing package with the starting price and listing/deposit fee (a minimum of $10 and a maximum of $30). The item is photographed to show detail, brand, and any imperfections, then listed in a seven-day auction. "It takes us over an hour per item. There is a lot to it. We don't want people to think we are taking advantage of them. It is in our best interest to get as much money as possible for our customers," says Colgan.
After the auction, payment is collected from the highest bidder and the item shipped or picked up. The customer has two days to return the item. A check minus commission is then written. Commissions range 10 to 60 percent. Ouch. The higher the sale price, the lower the commission. But all labor, overhead, eBay listing fees, Paypal fees, handling and packing are included. And wouldn't it be nice to get rid of all that clutter?
We brought in three items: a framed color print, a small driftwood collage and a copper coal holder and put Chester to work. She quickly found that similar photos on eBay sold for $6 or not at all. Over 280 driftwood art pieces were listed but not sold. And the exact copper coal holder went for $19.99 even though we thought it was a rare antique. Since the store takes 60 percent of any item sold for under $50, it didn't make sense to leave any of the items. It's their way of discouraging people from bringing in items that neither party will make money on.
Colgan said, "We try to only take items that will sell. Sometimes it's seasonal and we tell them to try another time. We don't want people to get discouraged." Maybe the coal holder will sell next winter.
If you go:
A&B Eclectic eBay Drop Off Store, a registered eBay trading assistant at 9 North Main St. just off Route 28, South Yarmouth, is open seven days a week. Call 508-394-1580 for information. Other local eBay trading assistants can be found on line at http://tradingassistant.ebay.com/ws/eBayISAPI.dll?TradingAssistant&page=main
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