I disagree with selling items for $1 . Only do that if you have an ACTIVE audience. Im seeing $60-$80 items go for 3 bucks because the seller thought they should start everything at $1
I agree with you. You just don’t know sometimes who’s or how many are going to make your show. So I found starting at lowest I’m willing to go during that show to be helpful. If I still have that item month or so later I can always try again lower. But because your selling for so much less the. You can get if you wait, I think starting auctions should be based on item who and how many have made it to show. If I’m less then 60 watchers I’m starting at more fair price.
Been selling on eBay for 20 years (well, 2 years seriously and 18 years "every so often"). Started a WhatNot less than 2 months ago. First auction, about $200 in 3 hours. The last 2 auctions, averaged $1K in 90 minutes each. Preload, schedule at least a week ahead of time, engage with your audience, remember and point out your return customers. Great video!
I’ve heard so many different opinions on the starting point. Yes start at $1. No don’t be afraid of starting at $3 $5 $10 but never be unrealistic. We’ll see things work out for me. I’m doing my first show this week and I plan on starting at $3 and $5 but we’ll see who shows up or if I get any buyers
That its true seller they sell in low price .. I’m a buyer in whatnot . Theres one seller she started $15 on her items she looks pissed when i bid and no one bid . She said respect to seller . I was like hello im here to buy and you are the one who set the sb price . Since then i dont buy her
Thanks for the inspiring words, great guidance and unique perspective. Taking these to heart during these challenging times and unsubscribing to the negative/recession mentality today!
Thanks I'll try some more shows, I just get mad when I only get $2 or $3 on stuff and no one bids. I guess it's because I have like less then 10 people come in.
the biggest and more important thing on Whatnot is to build yourself a community. Whether its going into another stream and helping that seller out, moderating (people will remember your name!!) or using your social media following and referral link and making reels. People will show up for you if you show up for them- especially if you havent made a "name for yourself" yet. Also, be thorough, tell the audience the size and brand an any flaws- all the important stuff- but move fast fast fast!
I appreciate your commentary and advice Daily Refinement, Here's my commentary/questions from a new seller perspective: When you look into buying pallets, how do you know/optimize your chances of buying a pallet that is accurate in it's contents. My wife and I are trying to focus on selling children's clothing, and it's proving to be very challenging to find either direct retailers that are selling pallets. Similarly, we are going to sites that auction pallets that are not clear about their contents and a lot of the time we are just getting outbid/botted. Is there any advice on how to approach either retailers directly or sites that are reputable in selling pallets? If you do receive a pallet that says it contains something but it turns out it's not accurate, are you able to reach out to your credit card company and get your money back in that situation? This has been our biggest challenge so far in trying to prepare ourselves for selling. Any advice from your experiences would be very appreciated.
Recently got accepted to sell. Thank u for the info. Will probably have to watch it again. And watch it again after I've been doing it for a while. It is a little scary and intimidating. I figure I got to start somewhere. I'm an artist and going and doing art shows doesn't appeal to me.
I agree with everything you say, except I do original one of a kind pieces so my auctions for the most part do start higher Incase it’s a slow night. You really have to feel out each show. And I also think it’s a show. I like to treat them like art opens and trade shows. Like make it a fun place to hangout and socialize and buy original collectibles. But I think do have a regular show same time each time like a program to make it easy for people to plan to be there and see your latest. But that’s just worked for me. So far I love whatnot been doing it now for almost 6 months.
I've been to some of your streams :) Victor is pretty entertaining. I also watch another seller that only does tshirts, they make about 3k per show going 6 days a week, it's crazy. I like watching the shows in different categories for research because I can see what brands or tshirt prints people really want and how much they are willing to pay in real time. I watched a stream for Disney pins and people were bidding up to $20 for some pretty basic pins, ones that when I looked on ebay the same pins were listed at $12 shipped.
I have been selling on eBay for the last 4 months and grossed just under $10k in 4 months, I did ONE 6 hour show on Whatnot and made over $1,000. I watched a few of your videos on it and how you do it so I really appreciate you for that. I have found a niche in collectables, mainly selling Funko Pops. How does someone like me who doesn't have a business and not a lot of up front funding source items? Right now I'm sourcing items for around $5-10 bucks, and selling generally $2-3 more for each item than what I paid. Any tips on how to source? I wont be able to scale at this rate, I made a goal to do $50k my first year on Whatnot but idk if I can do it without proper sourcing!
8% commission fee, 2.9% Processing, and then $.30 transaction fee. Total most people are paying 11%-13% max. That's actually super reasonable, especially with Whatnots reach. (I've never seen a 30% PP transaction for anything)
@@dailyrefinement Your income didn't double because of you wife. If your wife was responsible for your earnings, then you would have already told us this and she would have appeared in your business videos. Take my advice, SIMPing doesn't do you any good. Always tell the truth and you will remain strong.
I've been going into many auctions and asking how's the market compared to eBay. From these sellers I've been told that more sales on whatnote at a lower price vs higher margin sales but less frequent. Regardless of what platform it's going to sell. There is finally a worthy competitor to eBay but for how long??? It's hot now but so was polish and Mercari and craigslist... remember craigslist lol
Okay but you need to refine the $1 auction because I tried it and I only had 150 followers and lost a lot of good items even with a room of 50 with confidence and no fear and good reviews. It’s all about followers and viewers on whatnot, so can you go back and maybe give further advice on starting at what you’re comfortable selling it for versus $1 auction because that’s only good info for popular streamers
popular streamers start as unpopular nobodies, they use $1 auctions and giveaway to build momentum over time. The secret to growing your following is giving value for free.
@@dailyrefinement I sent it a few nights ago along with some photos. I'm thinking it's rare and possibly valuable, plus I don't want to list it under the wrong name or over price it.
I agree the more you put in the more you get out. I, starting my food channel again, while trying to run my E-Bay store. WOO lots of work. But I love it. Thanks for all the info Chris. Love your videos.
I have received alot of damaged + stained items from people trying to rush and sell quantity rather than quality items on What Not. Not having to list and really having to check over items under the ring light I think leads to missing damage + stains.
Every show i do 3 giveaways and nearly each time the buyer also buys something. Do you cancel the giveaway after shipping it if the shipping is already covered?
People selling comic books (raw and graded), sports and Pokémon cards, and other similar collectibles like doing blind bid/mystery item/bundles….most of these sellers, from what I’ve seen (based on checking the comps) significantly overvalue what they are selling( claim a graded comic book is valued at $300, but upon checking comps/values, the value is 30-70% less) but people are still buy their stuff…
I was watching your shows and knew to work night and asked a couple questions and one of your moderators kicked me out and I’ve never been able to get back onto a show. I felt like they were over reacting and my vision is not great so maybe there was information that I was not seeing so I was asking questions. I think you should chat with your moderators about this and I would love to come back on now that I am also a seller and also have more information.
10k on the bay has come a long way! Yep followed back then five years ago dumb ass I should have kept up with you and done your plan! I'm back at it again Five a day hoping to get to that 1K a week I'd be well happy with just that.
Are you or is anyone in your resller's mentorship involved in the used parts category? I'm looking to gain knowledge from like minded, serious people that take action and have discipline and accountability. Also hoping someone is in the same category as me so we can spit ideas. I have a few for sourcing that are pretty legit. Thanks in advance!
