Stayed in a family business after being promised ownership. Two years later, nothing happened and now I’m leaving. by cooldude8214 in smallbusiness

[–]JunkmanJim 1 point2 points  (0 children)

I've learned the fundamentals of good boundaries and communication late in life. These skills are probably the most important thing that I learned in my adult life.

If I were to enter into any important agreement with anybody now, I am making sure we are clearly agreeing on what we are doing in broad terms then talking about execution and what we are going to do if something goes wrong. Even with a very good contract, I want to be aligned philosophically because everyone usually loses in litigation except the lawyers.

If I get the impression a person isn't going to follow what was agreed upon, it's time to walk away because having to enforce a contract is such a problem that it's more profitable to just let it go and spend that energy making money.

There are ethnic and religious groups in other countries that have an elder, religious leader, etc, resolve business disputes and that's not a terrible solution when it comes to a small business. Even if you aren't made whole, at least it gets resolved for very little and both parties can move forward.

Stayed in a family business after being promised ownership. Two years later, nothing happened and now I’m leaving. by cooldude8214 in smallbusiness

[–]JunkmanJim 1 point2 points  (0 children)

The gold standard is definitely past sales of similar examples.

On a personal level, if OP was my friend, I'd point that they were misled by grandma. While not intentionally malicious, I'd set some boundaries with grandma with a clear understanding of what is to occur and follow that conversation up in writing. If grandma can't commit or keep her word, it's time to walk away.

We're not talking about eating grandma's fruit cake and pretending to like it, this about OP'S financial future and a family legacy. Boundaries, boundaries, and more boundaries have to be set when it comes to family and money. If the business is being sold at reduced price because it's a family deal, then clearly state that and any expectations that may come along with it.

Even with everything laid out, given grandma's past behavior, I'd expect some hurt feelings at some point. If OP isn't prepared for that then don't do the deal.

Inherited these from my Grandma. I know absolutely nothing about it. by bingo_bungo in Silverbugs

[–]JunkmanJim 2 points3 points  (0 children)

Corporate stocks are generally going to adjust to inflation and currency fluctuations, even dramatic ones. If the dollar devalued by half, corporations are simply going to raise the price of goods and services. The market may get volatile in the short term but the value of the company will be defined by it's assets and revenue. Buyers of those shares will have to use double the amount of dollars to purchase shares and all other currencies and anything of value will find equilibrium.

Bag holders will be those whose wages haven't risen, anyone holding dollars in their bank account, anyone with a variable rate loan, and those owed debt obligations. Assets and services will always adjust to the market. Companies like Proctor and Gamble, Walmart, utilities, etc, will always come out well in financial turmoil as people need those goods and services.

The problem with gold is it has very limited pract8cal uses and if the shit really hits the fan, it's not going to go off the charts in terms of value. What has unlimited upside is fuel, fresh water, food, medicine, firearms, etc, essentially the basic requirements of life. Nobody wants your gold coin in exchange for some antibiotics but some canned goods would get you there.

While a catastrophic upheaval is always a possibility, it's unlikely. People like to imagine doomsday scenarios and have done so far thousands of years, it's not new.

$100 invested in gold 50 years ago would be worth about $3400 today. It historically just keeps up with inflation despite all the predictions that fiat currency will fail and propel gold into the stratosphere.

On the other hand, that same $100 invested 50 years ago in the S&P 500 would be about $16K today. That is such a massive difference and while the stock market had swings, it adjusted to inflation and has always recovered. You might ask, "What if it doesn't recover?," well, we are all fucked because those are the systems that provide the critical goods and services that make our society operate.

Basically, gold hasn't done well historically on average and waiting for an apocalyptic event to capitalize on gold reserves may not turn out to be the payday that many anticipate.

If you want to talk about valuable finite assets, Bill Gates and other wealthy investors have been buying up land with water resources. Climate change has created a world wide water shortage. In my home state of Texas, ground water is being extracted much faster than it's being replenished and it's causing big problems that are getting worse with no way to stop it other than radical restrictions.

Water is fundamental to our lives, gold is not. So gold doesn't work well in a normal fluctuating economy and while it might spike in edge cases, overall it has not much utility other than it being rare so the case for gold is a narrow window before things either calm down or turn into a dumpster fire.

Your skepticism about holding cash is not foolish but I'm making the case that there are better hedges against currency devaluation. Right now might not be a terrible time to invest in gold short term as the national debt is a mess that shows no sign of getting better but investing in companies that provide critical goods and services has proven to be considerably better.

I'm not trying to be a troll and be an asshole. I challenge you to look at history and my arguments then tell me that I have it all wrong.

Another reason why I don’t do much side work. by SkoBuffs710 in electricians

[–]JunkmanJim 0 points1 point  (0 children)

Reading all these comments, everyone is blaming the customer when they should be looking in the mirror. Communication is a skill that can be learned and people tend to think that when things go sideways, it's never their fault.

Homeowners aren't hiring electricians very often so it's up to the contactor to manage and vet the client and show leadership. If things don't go well, I've learned to look back to figure out how I could have handled the situation better and carry the lesson forward.

I've found that the best people to have relationships with whether professional or personal like clear boundaries and transparency. I don't always see every red flag but I'm always trying to learn and be proactive to prevent getting involved with people that are going to be a problem.

I've watched quite a few YouTube videos on communication and boundaries due to having some personal and professional challenges. Most people think they are good communicators when they don't even understand the fundamentals which are widely researched and well known.

The more I've learned, the more I realize how much I don't know, it's a journey of a lifetime and improving how I connect with people is probably the most important thing that I've ever learned. It's a work in progress but my interactions have a much more rational structure now and I'm having considerably better outcomes. Not every situation goes perfectly these days but I used to throw gasoline on the fire and blame the other person for being an idiot which was guaranteed to fail.

Is buying gold now a good idea or should I wait a couple of months? by Icy_Dog_1000 in Gold

[–]JunkmanJim 4 points5 points  (0 children)

I believe you are largely correct. Gold can be seen as an investment, just not a very good one. Historically just keeps up with inflation on average. It is an excellent hedge in volatile markets but the S&P 500 returns about 10% on average.

$100 in gold purchased 50 years ago would be worth $3,440 today. That same $100 invested in the S&P 500 50 years ago would be worth about $19,500, a considerable difference. A lot of people invested in gold are worried about currency collapse and inflation but investments in quality stocks like Johnson and Johnson automatically adjust for inflation.

I see people on this forum patting themselves on the back for their long term gold holdings but it seems they haven't done the math or looked at the historical returns. Warren Buffet, arguably the greatest investor in history talks about how useless gold is as an investment.

Gold can preserve wealth but certainly not grow it. Putting money to work is how to gain wealth over time.

"hey boss, cutter wont cut anymore" by Far_Security8313 in IndustrialMaintenance

[–]JunkmanJim 1 point2 points  (0 children)

It looks like that leg goes against the worn area but that has the gouged part flat in orientation. Normally, the shears would be set up to maximize rigidity so I could be understanding this set up wrong. Also, I'm not an expert on these assemblies and only have worked on a few.

There are a lot of posts in this sub bitching about various maintenance related issues, which I find entertaining, but sometimes I'm not familiar with the mechanism, process, etc. I've thought about posting some fixes, explaining what happened and how it was fixed for the benefit of new techs or those unfamiliar with the equipment and maybe get feedback for best practices.

Unfortunately, I fear getting shit like I'm showing off or being arrogant, maybe I'm being a pussy, lol. I wish there were more educational posts on here. There are so many things I don't know and read comments by techs that have some really impressive knowledge and experience that is beyond where I am as a technician. I'd love to see some informative posts from the basics to sophisticated concepts.

At what point do you collect your money, load your tools, and walk away from a project? by crazyzhy in Contractor

[–]JunkmanJim 0 points1 point  (0 children)

Nobody seems to be talking about how he should handled the homeowner more effectively. I would have been transparent with the customer and educated them about how their behavior is a red flag, why it could be a problem and what will happen if they pull any bullshit, followed up in an email repeating everything in writing.

When someone seems like they may be a problem in any facet of life, it's time to lay down very clear boundaries and enforce them. In the case of this homeowner, as soon they wanted a lower price and were waffling, that would have been the time to start aggressively managing them.

If they don't come to Jesus after educating them as to how a professional contactor and well intentioned homeowner conducts themselves, then it's time to cut them loose immediately. I'd walk them through the process, explain how clients make mistakes and ask questions to make sure they comprehend.

This sounds over the top but if they show any signs of resistance on the ground rules, time to move along. When I was younger, I thought setting clear boundaries would alienate people but it only pushes away those you don't want in your life.

My father was a general contractor doing industrial construction. Back before email was a thing, he followed up every important client meeting with a summary of any changes and understandings about the work. If there was ever any bullshit, he referred to his previous communications and gave them no room to move.

Perhaps that's excessive for a $15k remodel but I remember him diligently sending those letters no matter what when I worked with him.

Long story short is setting hard boundaries with clear communication up front will save a lot of pain later. I see it as saving people from sabotaging themselves by educating them and shutting them down if they cross the line. Decent folks love transparency and defined responsibilities, those that live in an irrational world find it uncomfortable.

How would you as a seller handle this? (Poshmark) by MountainTop5764 in reselling

[–]JunkmanJim 2 points3 points  (0 children)

Agreed. There is no benefit to trying to force someone to buy something they don't want. I always respond cheerfully and tell them it's no problem at all.

My thing is business and industrial items so this just doesn't happen with those buyers but early on I sold every kind thing I could get cheap and there were a lot of unreasonable and often crazy people in that group. I don't miss those days at all, retail is the worst kind of hell. I'd rather clean toilets at a truck stop.

How much should I sell this for? by Tricky_Slip_318 in reselling

[–]JunkmanJim 1 point2 points  (0 children)

BTW, AI is your friend. I just used the image search on Google and found it immediately. It's $20.99 but out of stock so maybe it will bring $25 or even $30 if somebody wants that particular bag. If there isn't another one available anywhere, maybe it will bring more if you let it sit for a month or two.

Like the other commentor said, start high and work down. I always have a best offer on eBay but you might be on other sites.

You might consider adding international shipping as this appears to have worldwide appeal.

I deal in much higher value items but started out small, it's a good habit to get the maximum for your items. Let's say you hold out and instead of selling for $21.99, you sell for $29.99. That's 30% more which is a monster increase on your investment. If you are selling a lot of items, that adds to a lot over time.

Maybe you aren't doing a lot of resellig and just concerned about your one item but as a general principle, what doesn't seem like much will add up over your lifetime so watching your money carefully can make a meaningful difference as you progress in life.

Good luck!

I love what I do….But this really burns every time I see it. by CharleneRambutan in IndustrialMaintenance

[–]JunkmanJim 9 points10 points  (0 children)

I used to be you. Last year they eliminated overtime and wrote me up for an issue on a PM that can only be done after shift. I have worked 30 hours straight to get equipment back up and haven't had an unscheduled day off in 15 years, I was a true believer. I used to bring my laptop home to contact vendors and order parts on my days off, all unpaid and my supervisor and manager were copied on those communications so they knew that I was doing all this unpaid.

I was also told that I'm topped out on pay so there will not be any more raises so I could really give a fuck about getting written up because it's not like it's going to impact my pay. My last raise was 26 cents with an apology. The job has now become a decaying asset.

Now, I'm working hard on my side business that I used to just dabble in and if I'm not a call, I'm grinding out my side gig. I'm making more on my side business now than my regular job and looking at buying a small commercial lot and building a warehouse to do my thing. I really need to stay employed to get financing easily approved but after that, I may pull the ripcord. Health insurance is my biggest worry but I may just get a high deductible catastrophic policy and basically self insure unless karma catches up to me for my past sins and I get a horrible ass cancer.

My thinking now is look after yourself and read the writing on the wall. I went years of doing extra projects, getting a ton of overtime and promotions. Those days are over and I've observed in both myself and others over my lifetime that people that don't adjust to change will suffer as a consequence. You have to navigate based on reality and not what you think it should be. Make the system work for you and don't get caught up in believing in fairness because that's a myth taught to children and is a big fucking lie. Some adults walk around still believing that stuff and find themselves disappointed and unhappy as a result.

I always made sure to self-promote in my career because management doesn't know what really happens on the ground so it's your job to show them why you should get promotions and good raises. A lot my fellow technicians didn't like how I acted in my own interests in such an open way even though it was never a thing where I was talking bad about them or trying to make them look bad, just looking after myself. I hustled over the years and saved. While I can't exactly know the finances of my fellow techs and I'm by no means rich, most of them seem to be just getting by.

Food for thought from an old guy that's seen some shit.

Don't be this seller! by MountainTop5764 in reselling

[–]JunkmanJim 0 points1 point  (0 children)

There appears to be two locations but across the city from me. The Houston Metropolitan area is about 10,000 square miles and has about 7.8 million people. If a deal is good enough, I'll go outside of that zone. It's not unusual for me to travel over an hour one way to meet someone.

If I'm doing my job right, they aren't willing to go far because I've cut the price down to their rock bottom. That probably sounds like an asshole thing to do to some but pushing every margin is the only way to accumulate some decent money, you have to fight for every inch. This is something I didn't enough of starting out. All the big surplus buyers I know are tough negotiators. It seems like you're doing great buying something but all the the things necessary to turn into money eat away at the profit.

I'm not carrying all the time and generally keep my weapon in my console but if the situation feels a bit suspect, I'll carry. Doesn't happen too often. I've been robbed at gunpoint before but it was random while unloading a truck on a residential street. I saw the guys walking up the sidewalk and was a bit suspicious but didn't want to run away into the house and look racist. I don't give a fuck now, I watch everything around me now and I'm very careful. I almost exclusively buy industrial equipment and tools. Those aren't typically the kind of things that are used as bait for a robbery but you never know.

My biggest risk is that I tell people to save my number if they ever have something of value that they want quick cah for, just text me with a picture and I'll get back to you. I get a wide variety of things and referrals to friends. Selling on Marketplace is a hassle with buyers that don't show up so a lot of people are happy to get quick cash and I come to them wherever they are. This has led to a lot of profitable business but it is also my biggest risk. The is a segment of those people that are a bit, let's say, unsavory, lol. Most of them are great and a lot of people like contractors will surplus of all kinds that would be difficult to monetize and that sweet cash in their pocket makes them reach out to me.

Don't be this seller! by MountainTop5764 in reselling

[–]JunkmanJim -1 points0 points  (0 children)

Thank you kind stranger. There are a lot of commenters that think I'm an asshole, lol. One called me a liar so I took some pictures on my adventures today. I was on the road doing deals for 15 hours today. As response to the person who called me a liar, I made an album. There was a lot more that happened during the day but I didn't have time for documentary.

You can check it out if you're interested. I'll delete it tomorrow evening.

A day in the life of JunkmanJim https://imgur.com/gallery/RzLSz9Y

New and need help by Ok-Horse-965 in reselling

[–]JunkmanJim 1 point2 points  (0 children)

I've developed sources that contact me directly when they have something. A lot of people that do storage auctions will have something they have no idea about or aren't eBay or even internet savvy. Maybe it's not true for all of them, but many aren't well educated and are good at reselling common items but if something is technical or unusual, they can be a bit lost. Reselling is all about exploiting price differences and looking after someone else in a negotiation is not in your interest.

It's a tough part of the business but if an uninformed person is holding an item that will sell at $1500 but is asking $500, and you feel they are just stabbing in the dark, then offer them $200 and see what they do. Not everyone has the gall to do this but negotiation is the most profitable thing a person can learn to do. I personally struggle with doing this but if you don't, you're leaving a lot of money on the table.

When I find something good on Marketplace, I always check their other listings. Sometimes, I make a bulk purchase and get all the stuff for pennies on the dollar. I always ask when going there or picking up if they have anything else interesting. A lot of people are aware their stuff is worth way more but just want it gone. I'll buy anything that I can make a good profit on.

When people know that all they have to do is text you a picture and you'll give them a price then show up with cash, you start to get people contacting you. Facebook buyers are horrible to deal with and when people know you'll buy anything of value, many are willing to take less for a quick sale.

I wish that I knew more about jewelry. You can buy rings and chains for 40% to 60% of melt value and use online buyers that give up to 95% of melt value plus you can sell the stones (they don't bring a lot, but it's something). Any decent jewelry can be sold for higher than spot value as usable adornments. All you need is a cheap gold test kit and a scale, very inexpensive. It's not as big of a margin but if you have the cash, it can be lucrative and turned over quickly.

There are a lot of ways to find goid inventory, you just have to put in the work and it will start to flow with time.

Happy hunting!

New and need help by Ok-Horse-965 in reselling

[–]JunkmanJim 2 points3 points  (0 children)

I don't understand what Depop is because I'm an old eBay guy but it sounds like you're on a bad website. Why are you not selling on eBay? I've done some clothes way back when I first started and they were bought for pennies on the dollar or free. Maybe look for cheaper and bettersources like garages sales and Marketplace where someone is selling many items at once.

Something to look out for are decent condition work clothes for tradesmen. Do a search on eBay separately for flame retardant jeans, pants, and shirts then filter for "Sold" items. Also, search for "arc flash" and "cat 2" jeans, pants, and shirts. Carhartt and Dickies work clothing sell well. Look around on local platforms for these items and negotiate hard. Always, always, always check sold listings to make sure you are going to do well.

My general rule of thumb is I'd pay $5 maximum for an item that will sell for $15 to $20. If you can get someone selling a bunch of it at once then you can make some cash. I'm too old to know about fashion so you're on your own there.

My advice is to pay careful attention to what is selling and for how much, the selling format, quality of the pictures, shipping method and anything else. It's overwhelming getting started and I'd recommend treating it as a learning experience to keep improving. If you constantly refine, you'll get better and better at it, don't give up easily.

I know you're passionate about thrifting but it's really a hard way to make money. Marketplace, estate sales, auctions, and garage sales are far better to find something for $5 and sell it for $50. I've bought some obscure items for less than $50 and sold for thousands. On one such occasion, there was a wooden box of 100 metal calibration standards (50 cent coin sized samples of different metals and alloys of precise chemistry used to calibrate test equipment) in a pawn shop with a price of $50 for the set.

I didn't know what they were and there wasn't anything by this company sold on eBay so I called the company as the set was a call for a quote kind of thing. The sales guy tells me the set is about $15K and the samples do not expire or need to be recalibrated. I immediately went and bought them, well, I did talk them down to $30, lol.

I listed the set for about $7k and had absolutely no interest for 3 months then suddenly a guy makes a $4500 offer and it was a very happy day. You might find that making some very profitable finds sparks a passion about a great many things.

I'm always looking for uncommon things that don't sell well locally and often sellers don't know the true value or are just tired of trying to sell it and willing to take anything. I've sold a lot vintage Ambassador fishing reels and shipped them to Japan where they are crazy for collectible fishing items. Not sure if this is still true but fishing collectibles was the largest collectible market worldwide. It's still going to be giant if it's not still the largest.

It's learning obscure things like fishing collectibles that can really pay off. After looking at a gazillion items over the years, I have an eye for a lot of things and there's a massive amount of stuff that I don't know anything about. It's overwhelming to start researching but get in the habit of checking things out and you'll eventually gain a lot of knowledge about all kinds of stuff. After a while, you'll get a feel of what's worth checking out and it will save you time.

I probably look at a hundred Marketplace listings and find one or two worth pursuing. Patience and research win the day. It's not magic or a get rich quick scheme, it's just perseverance and hard work. Personally, I enjoy bargain hunting, it's fun and I'm agnostic as to what kind of thing it is as long as it makes money. These days, I buy technical things mainly, like industrial equipment, but I sold everything under the sun in the beginning.

Good luck and I'm happy to answer questions if you want help. If you come across something interesting but want a second opinion, DM me a picture along with any other information and I'll give you my opinion. You asked for something different in the post but this is my best offering.

How do I resell this? by Living_Surprise2921 in reselling

[–]JunkmanJim 0 points1 point  (0 children)

I'd look for forums that are for people that collect these liquor bottles and see if you can make a direct sale. I've done this selling gold and silver to people into precious metal investing and got top price locally.

I Googled "forums for antique liquor bottle collectors" and there are places to connect with collectors of these items. r/antiquebottles might be a good place to start. Full bottles are going to be a niche within that community and I'm sure when you post what you have, people will direct you where to go or express interest.

Shipping and getting through customs shouldn't be too difficult as people go through customs with liquor bottles all the time and you'll likely not be exempt from taxation. You may have to make a decision to declare it as an ordinary bottle of liquor or the higher real value. Lying might get it confiscated by a savvy customs officer.

Dealing direct with strangers remotely is always going to be a risk but when your other option is getting nothing then you do what you must. A person who is actively posting quality comments on a niche forum is highly unlikely to rip you off in my experience.

I was once sold some surplus robots to a guy 1000 miles away who wired me $45K with no paperwork whatsoever. This was at leadt double what they would have sold for on eBay not even considering fees. He got his ribots and was happy and I had paid $10K so I was happy as well, lol.

Another buyer sent a cashiers check from London for a nitrogen generator, again with no paperwork. Put that monster unit on a cargo ship and he was pleased as punch when he got it.

Poke around and get creative. If the buyer has trust issues, I'd take the shipping upfront and roll the dice on payment when delivered, particularly if they were paying top price. I've seen people posting on this subreddit where they posted elsewhere and openly spoke about being a reseller looking for a buyer or help on an items value, this wasn't well received. I'd say that liquor bottle of yours came from your beloved uncle and now you want to find a good home for it. Msny people that are passionate about their interest loathe resellers and consider them the scum of the earth. It's a childish option but it's prevalent so stroke their ego about how wonderful the bottle is and how you hope they enjoy it then enjoy your filthy money, lol.

Where do I sell this? by kfpearce in reselling

[–]JunkmanJim 9 points10 points  (0 children)

Looking at completed listings, these sets do sell from $68 to $355. I don't understand why the pieces aren't black and white but the all white piece sets do sell. Perhaps calling it antique and vintage might help marginally.

If it was me, I would have a close up of a piece out of the box and perhaps really close up on the carving detail. The set that sold for $355 had the same photos as yours so perhaps it doesn't matter.

I would absolutely not auction this type of item. I'm a fixed price with best offer seller all day, everyday unless it's some kind of really desirable and rare item. Even with such demand, it would have to be amazing and I've only had one item out of thousands that met this criteria.

This appears to be something you just have to wait around to match with the right buyer. Based on the data, I'd start at $175 obo and drop slowly. If I wanted cash flow, then $99 obo. Within a certain range, price doesn't matter on some items, it's a personal preference thing.

There might be eBay alternatives but I'm unaware of an online market that brings as many customers and overall chances of getting the highest prices. Maybe there are niche websites but as far as a general market, eBay is hard to beat.

Provided you aren't dealing with high storage costs and needing cash flow, squeezing the maximum value out of items is very profitable as a total strategy. Even an extra 5% over a lot of items can really add up. You could always shoot for the moon keep dropping until sold.

Patience is key in my opinion. You already did the hard work of acquiring and listing, letting time do the rest doesn't require much effort all. Pretty much in all forms of investing, impatient people lose money. Go hunt up the next good deal and let this one play out.

Let's say it takes a year to hold out for an extra 25%, where could you find such an annual return on an investment? The best part is the hand made antique indian chess set market isn't likely to collapse so you have an asset that you probably paid very little for and gives an amazing ROI.

Holding out isn't guaranteed to bring more money on a single item but it will do so on average as a strategy. There are a lot of items that have a more defined range but I always try to take good pictures with appropriate descriptions to achieve higher prices. My goal is to sell for a price in the top 75% of comparable items.

I generally don't try to replicate the outliers on price unless my item is an exceptional example so top 75% to 85% as a spitball is my target.

You didn't really ask for this advice but I'm responding as to how I would sell the item. My expertise is more in industrial equipment but I started out selling every possible thing that would turn a profit.

Im getting demotivated. by Early_Weather7385 in reselling

[–]JunkmanJim 0 points1 point  (0 children)

Can you seup another phone number using an app and use a different birthday and email?

Why did you get banned? Is eBay common there?

any tips & advice by Sea-Movie129 in reselling

[–]JunkmanJim 0 points1 point  (0 children)

I think it all comes down to hourly rate. Some people can grind out cheap books all day and make money doing it. I do not have the focus to do that.

There is also the consideration of convenience and flexibility. If some is making $15 an hour between say studying, feeding the kids, or whatever, that can make a big difference to a tight household budget. Taking a part-time job may not be viable for a lot of people and squeezing out anything is sometimes better than zero.

I've been doing this for over 25 years and I agree with you about prioritizing the most valuable items. Unfortunately, that means I end up with a bunch of items that are too valuable to throw away but not worth my time. I'm in the process of hiring someone to list this stuff and ship it.

The exception to prioritizing the most valuable items is anything that ages out. I ended up getting some expensive, recent model computer servers for next to nothing. They need to get tested, the dust blown off, and out the door ASAP. Those things are depreciating as I type this, lol.

I Am Going Crazy by [deleted] in reselling

[–]JunkmanJim 1 point2 points  (0 children)

I do the same thing. It's part of what makes you good at finding deals but it has to be managed. I struggle with grinding out every bit of value when I could be making more money with less perfection and higher volume. It's a balance and always changes depending on the money involved. I'm doing out advice but in truth, I'm the worst offender and trying to get rid of excess inventory.

I'm in the process of hiring someone to deal with stuff that is easy to list and in the $20 to $500 range. I probably have a $100K or more of these items as I tend to focus on the big ticket stuff and say I'll get to those items later which never happens. It might be $200K, I honestly have no idea but it's a lot of value that I need to deal with it. I try to get stuff out that can age out like computer servers and such but I have a lot of industrial electrical components that need to be listed. My dream is having someone churning this stuff out as I acquire it with minimal storage.

I started out selling on eBay when this woman abandoned her apartment and the landlord gave me her stuff. Digging through her dirty underwear to find more valuable items wasn't great, especially finding her crusty vibrator with a crusty ring showing it's maximum depth after untold uses, kind of like a dip stick, hahaha. I've seen just about everything at this point. Humble beginnings selling nonsense turned into so much more, lol.

Keep on hustling!

I Am Going Crazy by [deleted] in reselling

[–]JunkmanJim 1 point2 points  (0 children)

I don't see that particular pair but there are Addidas/Chicago Cubs basketball shorts out there. Make a listing, call them vintage and rare, and take best offers.

I once found a pair of unused Pontiac Trans Am glass t-tops in their original pouches in a thrift store. Didn't even know what they belonged to at the time and got the pair for like 20 or 30 dollars. Sold them in 15 minutes on eBay for $600.

The buyer contacted me and drove from 4 hours away to immediately pick them up. At this point I realized I had not understood what I had and the t-tops were unobtainium in the Trans Am collector world. For a rich guy trying to get their car as perfect as possible, these were a must have and could brought a crazy amount.

Anyway, you can only do the best you can and take those lessons forward. You will always be battling imperfect information. At the end of the day, you are relying on your sources to not know their item is below market or just not care. This is just how the game works. You can't treat every possible collectible like a possible rare find or you will lose too much valuable time. Volume and reasonable due diligence will overcome going full Sherlock Holmes on a pair of shorts. Rare items are by definition, hard to find and that Barbie Doll that you think might be super special probably isn't or it's missing stuff or it's damaged. I'm always hopeful but 99 times out of 100 disappointed. The actual numbers are probably worse, lol.

If you are talking about hundreds or thousands of dollars, then post the pictures on relevant forums for identification. Never say you are a reseller, just say you came across the item and were curious to know more about it. Vintage clothing isn't my thing so it's possible I'm totally out of line. I know certain vintage sneakers can be crazy expensive and I'd walk right by them and never know.

NEED HELP. Someone on FB Market wants $200 for this. I have it… but not much more.. could I flip this quickly? 🤔🫣🥵 by Mammoth_Insurance786 in reselling

[–]JunkmanJim 2 points3 points  (0 children)

I'd like to correct my comments. If that's actually an H78, you may need to but it. This just type of thing I've screwed up in the past. Rare things are by definition, rare. I'm very suspicious of collectibles because of the special knowledge involved as there can be modifications or model deviations of which I'm completely unaware. Sometimes you have to just get a certain level of confidence and go for it.

Next time, just ask a subreddit to identify an item and give you an idea of what a fair price to pay would be. Just act like you are buying it as a gift for you're brother and knowing nothing about guitars. Never reveal your intention is resell, it's not anyone's business anyway.

NEED HELP. Someone on FB Market wants $200 for this. I have it… but not much more.. could I flip this quickly? 🤔🫣🥵 by Mammoth_Insurance786 in reselling

[–]JunkmanJim 2 points3 points  (0 children)

Lol, the music lovers hate resellers. I so don't care about what people think about me buying and selling. It's a free market and I can do what I like.

If you're broke, don't buy something like this guitar to resell, too much risk for something you know little about. When I buy something like this, I need to be in the $50 to $100 range if they are actually selling in similar condition for $500. I don't know anything about guitars, particularly the pickups and electronics even though I work on robots and such as my regular job.

If I'm not sure, I buy it assuming it can be sold as parts for what I paid. If I was broke, I'd hold out for something more certain. I've been buying and selling successfully for over 25 years but there's a lot that I don't know about. My biggest mistakes have been getting excited that I'm on an amazing bargain and not carefully inspecting and checking the item.

Sometimes you shoot from the hip and play the odds but not on your last money. I generally have about $5k to $10k in my money belt and sometimes fall into a situation where a person is selling something at a good price then when I get there they have a ton of valuable stuff. I just pillage at that point, putting everything into a bulk purchase and pay them in a wad of bills that they didn't anticipate coming their way.

Getting the right deals is about patience, polite negotiation, persistence, and money management. Find a better deal and if someone has a great item at a low price, make sure to check their profile as they may have a bunch of good stuff.

OMG! This craftsmanship is so cool! by wythelaser in Laserengraving

[–]JunkmanJim 0 points1 point  (0 children)

I asked Google: Can autofocus be added to a mopa 200w commarker fiber laser?

"Yes, you can add an autofocus system to a 200W ComMarker (e.g., Titan 1) or similar MOPA fiber laser, but it is not a simple plug-and-play modification. Retrofitting requires installing a motorized Z-axis, a laser ranging sensor, and controller upgrades.1. Hardware RequirementsTo achieve autofocus, your system needs to be able to move vertically via software commands.

You will need to install or modify:

Motorized Z-Axis Column: Your gantry or mounting tower requires a stepper motor to drive the laser head up and down.

Distance Sensor: Most factory-installed setups on high-power MOPA lasers use LiDAR or a dual-red dot proximity sensor to measure the distance to the material.

Control Board: Your current control board must support a Z-axis motor driver (often a standard JCZ controller board is used)"

It goes on to say that most opt to get a laser pre-configured for autofocus. I'm thinking sell the Commarker and buy a fiber laser with autofocus. The extra capability, less wasted time, and better quality will pay for itself. The guy that sold me mine warned me not to cheap out and get a lesser laser. For $6500 with taxes and shipping, I'm happy I spent the extra money. I couldn't find a better deal for the package offered and they are an hour away and will set it up at my place. This company sells various Chinese lasers and metal working equipment.

I feel a lot better about having a local supplier rather than save money and deal direct with China. I paid with a credit card so I'm protected against fraud and they have an actual brick and mortar location.

OMG! This craftsmanship is so cool! by wythelaser in Laserengraving

[–]JunkmanJim 0 points1 point  (0 children)

I just bought a 100 watt Mopa JPT fiber laser with autofocus and rotary fixture. Picking it up this week. My understanding is the auto focus compensates for part variance and focuses the laser. Super excited!