| Get your FREE home page! |
|
CONTENTS How I got started Taking the pictures Writing it up Shipping Feedback A year by the numbers Scams & headaches Taxes (ugh) What I'd do different |
Selling on the Internet: My First Year How a guy with a tackle box full of old fishing lures sold $3,200 worth of them from his spare bedroom, and what he'd tell you before you try it My name is Doug Labonte. I'm 46, I fix furnaces for a living, and for about twenty years I've collected old fishing lures. Wooden plugs mostly, the kind with glass eyes and the paint crazed all over, from the 1920s through the '50s. I have boxes of them. My wife would say I have too many boxes of them, and starting in the fall of 1998 I decided she was right and I'd try selling the doubles on the big auction site everybody talks about. I'd never sold anything on a computer. I'd only had the computer since Christmas '97. A year later, I have sold 214 lures and a few reels to people in 38 states and Canada, and I've learned about ten things the hard way. This page is those ten things. I'm not going to tell you it's a way to get rich. It's a way to turn a closet into money if you're careful, and lose your shirt if you're not. How I got startedSeptember 1998. I signed up, which took about ten minutes, and listed one lure: a Creek Chub Pikie, wooden, glass eyes, no box, decent paint. I had no picture, because I didn't have any way to take one. I wrote three lines. I started it at $5. It sold for $14 to a fellow in Ohio, and I stood there in the spare bedroom staring at the screen thinking, somebody in Ohio just paid me fourteen dollars for a lure I'd have traded for a sandwich at a swap meet. Then the next four I listed without pictures went for almost nothing, and I learned the first thing. No picture, no money. People will not bid real money on something they can't see. Would you? Taking the picturesMy brother-in-law has a digital camera, the kind that saves the pictures to a regular floppy disk, and he's a soft touch, so I've had it more than he has this year. It takes a picture about 640 by 480, which is plenty. You can also shoot regular film, get it developed, and scan the prints, and I did that for a while; it works, it's just slow and it costs you a roll of film and a week every time. What I learned about lure pictures, which mostly applies to anything small:
Uploading the picture to the auction listing is the part that gave me the most trouble. What I do now is put the pictures on a page here on my GeoCities.us space and point the listing at them. It took me two evenings and a lot of muttering to figure that out the first time, and now it takes five minutes. Writing it upThe title is what people search for, so it has to have the words in it that a collector would type. "Old fishing lure" is useless. "Heddon Lucky 13 wood glass eyes" is what they type. Maker, model, material, eyes, and the color if you know the name of it. You get about 45 letters, so use them. The description, in this order:
What I don't do anymore: write "RARE!!!" and "L@@K" and use nine exclamation points. The serious buyers, the ones with the money, skip those listings. A calm, specific, honest description sells better and gets you better feedback. It also gets you fewer e-mails asking things you should have said in the first place. A note on starting prices: I start almost everything at $5 with no reserve. It gets people bidding, and if a lure is worth $40, the collectors know it and they'll get it to $40 by themselves. The few times I tried a high reserve, nobody bid and I paid the listing fee for nothing. ShippingI ship everything by U.S. Mail from the post office on Tuesday and Friday mornings before work. Here's the routine:
Tell people in the listing exactly what shipping will cost, before they bid. The number one complaint on the whole auction site, near as I can tell, is sellers who spring a $9 "shipping and handling" charge on a $6 item. Charge what it costs you, maybe a quarter for the box and tape, and say so up front. Canada: I've shipped about fifteen lures up there. Fill out the little green customs form at the counter, it's not hard. It takes a week or two. FeedbackAfter a sale, the buyer and the seller each leave a public comment about the other. That's your reputation, and it's the only thing a stranger has to go on when deciding whether to send you a check. I have 190-some positives and one neutral (a guy who said the lure was "smaller than expected"; it was the size I said it was, in inches, but there you go). What I've figured out: leave feedback for the buyer the day their payment clears. Don't wait to see what they say about you. Be specific in the note: "Paid fast, easy to deal with, thanks." And if something goes wrong, fix it by e-mail before anybody types anything public. I've refunded twice and taken a lure back once. Both times the buyer left me a positive anyway, which tells you something. A year by the numbers (Sept. 1998 to Sept. 1999)
So figure I cleared somewhere around $2,800 before taxes, for maybe five hours a week, on stuff that was sitting in a closet. I don't think that's bad. I also don't think it's a job. The people who make a living at this are buying at estate sales every weekend and listing fifty things a week, and that's a different life than mine. What sold best, if you're curious: anything Heddon, anything with the original box, and anything in an unusual color. What sat: modern plastic lures, anything I described as "some rust," and reels, which are heavy to ship and which the reel collectors seem to have their own channels for. Scams and headachesMost people are honest. Out of 214 buyers I've had real trouble with three. But here's what to watch for, as a seller:
And a headache that isn't a scam: the buyer who, after the auction ends, wants to negotiate. "Would you take $10 instead of $16?" No. The auction's the negotiation. Be polite about it. Taxes (ugh)I'm not a tax man. I asked one, and here's what he told me in plain words, and then you should ask your own. The money is income, and the government wants to know about it. Whether it's a "hobby" or a "business" in their eyes matters for how you report it and what expenses you can take off, and the difference has to do with whether you're really trying to make a profit and keeping records like a business would. Either way you're supposed to report what you made. What I do is keep every receipt for boxes and postage and fees in a folder, keep the printout of every completed auction, and hand the folder to the tax preparer in February. Cost me a little extra on the return last year. Cheaper than the alternative. The other thing he mentioned: if I sell to somebody in my own state, my state wants sales tax on it, which meant I had to get a little sales tax permit from the state. It took one form. Most of my buyers are out of state, so it's a few dollars a year, but it's a thing to know. If you know somebody who does books, ask them; there are a couple of bookkeepers with pages on this site (Carol Anne's Bookkeeping & Tax Service and Balanced Books by Brenda) and I'd guess they've heard this question before. What I'd do different, starting over
Year two starts now. I've got a few boxes left, and my wife has started leaving things from the basement on the spare bedroom desk with a look on her face, so I guess I'm branching out.
Questions, or you've got a box of Grandpa's old lures and want to know what they are? [email protected]. I'll tell you what I think they're worth for free, but I don't buy through the page.
Last updated September 21, 1999. Coming: my lure picture page (once I get the pictures off the floppy), and a page on the makers: Heddon, Creek Chub, Pflueger, South Bend and the rest. Neighbors: The Garage Sale Guru (Marge, who sells the old-fashioned way and does fine), The Fly Fishing Journal, and the Eureka neighborhood. © 1998-1999 Doug Labonte |