Deal # 1 - Payout
This is my very first flip on Flip n Finances. I bought a video game from a local thrift store and sold it on eBay. After shipping and fees, I lost 2 cents.
I sold my first Deal! That's my good news :) I sold it for a whopping $4.25!!! But don't get too excited just yet because... because there is bad news. I sold the game on eBay using the Buy it Now option, but then comes the shipping cost (insert sad face here).
It looks like I made 75 cents from it. But everything doesn't always work out the way we'd like as you can see below.
Final Sale Price w/ shipping: $4.25Actual cost of shipping: $3.13 (thank you 50 cent padded envelope)
And don't forget... eBay Final Sales Fee of 8% for electronics: $1.75*.08 = $.12
Our final equation is: $4.25 - $3.13 - $.14 = exactly $0.98. Yep, I lost 2 cents on all of my hard work :(
It was kinda a bummer when I figured that I lost money, but I did profit by learning a couple of important things.
1) Get shipping supplies for the cheapest possible you can (this killed me).
2) Get a better idea of what the final sales price is and what the final sale fees will be. So now I'm off to search for my 2nd Deal.
I'll have to search in between the couch cushions for a couple extra pennies to give me a full buck again for my next deal. Wish me luck :)
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