Craigslist flipping “201″

Okee Dokee Artichokees……….

Yesterday’s post was super-dee-duper popular!

You all have an interest in seeing what the furniture can be “flipped” for.

Before I tell you the results and what I would have listed this for……

Let me give you a little background, in case you are thinking……
“The girl just started painting furniture. What makes her think she is qualified to show anyone how to flip pieces?”.

Just so you know.…..I have always bought and re-sold furniture.
Either in a consignment or ebay or Craigslist setting.
I was a flipper…..before “flipping” was cool.

I did it to stay at home with my kids. I would yard sale on Saturdays….unload at a friends “upscale” consignment store and at the same time, began my own “ebay” business, selling Donna Karan seconds.
It has always been my side hobby, when it wasn’t my main income, for the last 20 years.

Just so you know.

You are sitting there with your mouth open…..impressed to no ends, aren’t you?

I’m a PROFESSIONAL CHEAPSKATE PEOPLE!

So, for once, I feel like I really, sorta, kinda, maybe, know what I’m talking about….a little!

I’m that confident?

The twist now…..I’m painting and updating pieces for re-sell.

That is new to me.

So, what I am telling you is only my opinion.

That is why I wanted all of you to play a part in this……

We are all the key to pricing.

Let me show you what I’m talking about.

I have broken down the comments into price groups. If someone said…..”I would say 50 but I would spend up to 75.00″……..then they may have went into two diff. price ranges.

It just gives you an idea of what people would have spent, if they saw this ad on Craigslist.

Here is what you all said you would spend and how many in each price range.

Price ranges:
30 to 40  (2) This is a little surprising and a good reminder to me that I am SUPER cheap, so I have to remember that some people will spend much more than I would.
40 to 50 (5)
50 to 60 (3)
60 to 70 (6) I would have thought majority would be here…..
70 and up  (10) SUCKERS!

So, what would I have listed it at?

My listing price would have been 75.00, although I would know in my tightwad heart, that I would not go below $65.00.

And many of you hit on the reason that I place my pricing where I do.

This comment from Linenandoak sums up my thinking:

$75.  Turned out awesome!  If it were in a she she poo poo store—$300!

Craigslist clients are not shopping in the “she she poo poo store”. They want a deal.

It can be a win for both parties.

If I sell in the “she she poo poo” consignment store, they will probably price this table at $120.00.
My cut will only be a percentage of that. Let’s use 50/50.
So let’s say that I would get $60.00….maybe, if it sold without discount. That is why I know that I do not want to go below $65.00. I would rather place in the consignment store, when I start hitting close to what I would get from them.

I want this to be a win/win to sell this item on Craigslist.

So, buyer needs a deal and I need a better profit.

Therefore….in my mind…$75.00 is a pretty easy sell. Buyer gets a deal..AND…I get a higher profit.

Important fact.

I am cheapy, cheapy, PROFESSIONAL CHEAPSTER…..so, sometimes, even when they are pricing my items for the “she she poo poo” store….I would think……”I WOULD NEVER PAY THAT!”
I squirm, gulp, get embarrassed and think they are way over-rating my stuff.

I have to get over myself.

I need to remember that, I may NEVER pay that…….

That’s right……I would not.

But someone else would.

That doesn’t mean that person is spending too much either.They may not have the skill to transform a piece…they know that they can’t afford it for “real” retail and they may be tickled to death to pay the consignment price.

So, when posting on CL, I have to be careful to not price my items too low.

I am bad about that….and before I even get my ad barely posted….they are sold.

It happened with both of my benches.

I priced them too low.

They went immediately…and literally, I had people asking for others, which I don’t have……

I missed out because I priced them….as if I would buy them.

BIG MISTAKE.

PROFESSIONAL CHEAPSKATES cannot price like THEY would buy them.

So, it is always a learning experience.

Your market is where you live as well.

You need to feel out your market….but if you are looking for extra income…..

I do know, that for 20 years, “flipping” worked for me.

Did I also mention the fact that I love sales?

I will give you a couple secrets about my ad tomorrow.

I bet you didn’t even notice them.

AND

Why I do NOT price my items based on what I spent on them.

That is very important.

So, are you guys awake?

Teacher to student here people……

Put your hand to the screen….

My hand is on the screen….

We have bonded grasshoppers.

You are my sweet, little, flippers…….cutie patooties.

Have I bored you to death?

Learn anything?

Let me know…..

Love,

Me

ps don’t forget that I am also having a giveaway for THREE pint selections, of “Milk Paint” on Facebook

pps:
I’m linking up to;

Tuesday
http://hopestudios.blogspot.com/
http://linda-coastalcharm.blogspot.com/

Find me here also...

             

Comments

  1. A Few Pennies says:

    A post dear to my heart–cause I constantly buy cheap to remake/reshape/paint/repair then to only make the mistake of asking a few extra dollars over my orig. ticket price.  I really needed to “hear” what you’re sayin!  That table is well worth 75.00; it’s a beauty–and that paint color is really hot right now==gorgeous in a neutral room.  Thanks for sharing this.

  2. Laura says:

    You know your market best, but I still think you are under pricing.  Have you experimented with $95?  Even rich people are price conscious (sometimes more than us!!) and they know a deal when they see one.  If a table like that sells for $300 in a chi-chi store (and I don’t doubt it could) (and remember who shops in those stores) and a rich person sees it there and goes home and checks online and sees yours for $95, that’s a deal!!!  Even $125 is a deal!! :)  

    I hope I don’t sound preachy!!!  I’m concerned with you getting as much as you deserve and still feeling like you are pricing fairly for buyers.  I used to do calligraphy for wedding invitations and business for Christmas and had a hard time charging very much for myself until a fellow calligrapher told me that me under pricing myself makes it harder for her to charge the going rate.  Knowing I was helping fellow calligraphers helped me to mentally make that change…and I got to make a bit more.  So I do understand your feelings about pricing.

    This is a really fun series of posts!!!  Thank you for sharing your ideas and experience, I really enjoy and appreciate it!! :)

  3. mck341s says:

    Thanks so much for this.  I just recently discovered the joys of “redoing” old furniture.  I love it but for me to be able to do more, I have to sell the pieces that I’ve done.  I always struggle with how much to price them at. Infact, I have a desk on CL right now that not one person has even inquired about and I don’t think I have it priced too high…just waiting for the right buyer I guess!

  4. Jennifer Neill says:

    Great advice from the “professional cheapster” :)   Love it!

  5. NordicGirl2 says:

    Okay, so I was close anyway. I’ve never bought anything on the internet. I know I’m old. I still can’t get past the whole, “what if they take my money and then skip town with it”, feeling. Besides, I usually buy at ARC or Goodwill or from friends that are down sizing. Good job on the table!

  6. Kurt Cuboid says:

    awesome post!…

    but now I have to get the windex and clean my finger smudges off the computer screen.

  7. Janet says:

    Love your Site. Getting some great ideas. Loved the last comment about the windex. I literally lol. Great job on your pieces.

  8. apitcher says:

    I tell you we are Soul Sisters, I’m just starting the flipping furniture thing so I was on Craigslist scoping out prices for like pieces I’m getting ready…my mental price was too low…funny…I just decribe my new venture to my neighbor as take junky crap & make it into Fru Fru crap & then sell it…. she saw the piece I’m working on and told me I was priced too low too.  OH, and I tried the AS knockoff paint (1;2 latex 1/2 plaster of  pairs & splach of water) , we’ll see tonight for teh sanind stage  it stuck pretty good so far???
    -Amy
    http://www.thriftytreasurehunter.blogspot.com

  9. Jillianleighwrites says:

    do this more often.  I wanna guess the price more!  fun little game.  getting me in the mood.  I sell a lot on craigslist, but I don’t refinish the stuff, it’s just junk from our endless garage.  I think I should start.

    jill from http://www.jillianleighwrites.blogspot.com

  10. bj says:

    75. with 65 your lowest is probably a pretty safe deal.
    The consignment stores here sure don’t do the 50-/50,…I just WISH they did.
    It’s 60/40 and at the really high-end stores, 70/30. Sooo, I never take my wares to a consignment store. I run an ad in Thrifty Nickle..have had good luck with that. Not got on the Craigslist train yet. Well, yes we did..we bought a couple bikes…good deal, too.:)

  11. Linda says:

    I haven’t been told my patootie was a cutie in like FOREVER!  I was one of those people that would pay too much.  One reason, and this is a huge frustration for me is, I shop our GW and SA and they seldom have furniture.  When they do, its priced really high in my opinion.  Routinely a very basic beat up bureau or desk will run $50-$75.  Who decids these prices?

  12. Linda says:

    i would also like to say that I think your selling yourself short girl!  It know there are variables, the most important being – is there alot of people doing the same in your neck of the woods?  I truly think your prices should be higher. Case in point – everybody begging and buying as soon as its posted.  Your target price should be 2/3 of what it should sell in the swanky stores (they have to include overhead, payroll, etc) and you would see the same about but bring in more boo-coo bux.  Jst my opinion. :o )

  13. Anita says:

    ah – yes – well I was one of the 2 lowest at a price of only $30.  but I did explain that is because it is not my style and I should further qualify that saying I too am a cheapy cheapy – wouldn’t pay that much…. Probably would be very different if I found something I really did like and want.   Thanks for this post – lots to learn here.

  14. cheapdiva says:

    Uh, I think I am your long lost twin, as I am known by “cheapdiva” – seriously. You are a RIOT!

  15. Imklvr says:

    Well, I was the other lowest cheapie!  But your post was VERY informative!  I’ve sewed for other people for YEARS and underpricing has always been my problem.   My daughters would get on me about it.  Course I defended myself with “I”m not a professional so they shouldn’t have to pay for one”.  Well…..never again, Master Cheapster!  I will make you proud!

  16. Connie McCallum says:

    A very interesting post.  I am at this stage right now… consign or craigslist…. it is a dilemma and I can’t wait to hear the next installment.  Why I should not price things on what I spent on them.  My husband the business person in the family is waiting to hear as well.  ;)

  17. Ann says:

    Great info in this post!  Thanks for all the great input, this is definitely a lesson for me.  I’ll be rethinking my pricing strategies on everything now and that will make my daughters, who have been after me for years, very happy!  

  18. Thanks for taking the time to do this post. It really makes so much sense why you go to Craigs List and not consignment shops. BTW, your work is lovely.

    ♥charlotte

  19. Hanna says:

    My best tip for selling stuff online would be to make sure you price it right. If you don’t want to spend a lot of time doing the research yourself, you should check out this new startup I’ve just signed up for called Statricks. It is a pricing tool where you get price reports and fair market values for almost all used goods, so you know what you should price your items for – or you know you don’t overpay when buying something. I’ve just been invited as a beta user, but already find it very useful. I would recommend signing up and checking it out!
    http://www.statricks.com/craigslist-used-pricing-tool.html?lrRef=FYHr0

  20. Hanna, this is a great tip! Do you have a blog? I would love to give you credit when I give this tip a shout out! Love, Me

  21. Ann W says:

    I think the rule is: Charge what the market will bear. Also, if you have a regular retail store, the value of an item is its replacement cost. I learned that in accounting. If you list it with good pictures , dimensions, and accurate descriptions you will probably draw from a larger area than your town.

Speak Your Mind

*