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Buying my first Wholesale Lot and have some concerns


adamcsoki
Free Member
  • Posts: 7
  • Joined: 05 Aug 11
  • Karma:
25 Aug 11 10:00:06 pm
I am getting ready to buy my first wholesale lot. I have done a ton of research in the jewelry niche and have found a couple of things. One- the prices that I am seeing on ebay I will be able to beat. And two- a lot of the items that are going to be in my wholesale lot seem to be selling according to ebays completed listings. The only concern I have is that for a new seller I have read that it is not good to immediately go into the jewelry niche because of the competition. But, based on the fact that I will be able to compete price wise, and that most of the items seem to be selling, would you think it is worth the investment. Anyone, that can give me their opinion on this would be greatly appreciated. Thanks


irene_salehoo
Site Admin
  • Posts: 2578
  • Joined: 21 Mar 10
  • Karma:
26 Aug 11 01:23:56 am
Hi adamcsoki,

Wow, we are so excited for you! With market research done (on pricing and competition) I think you have taken the necessary steps in doing it right, the first time. :) The only issues I can think of in line with reselling jewelries is on the type – genuine gold/diamonds/gemstones and brand name jewelries VS. the costume /handmade accessories type. With gold and gemstones you will need to have proofs that they are not fakes, and expect a costly Custom duty/taxes when you import, considering the prices of these commodities. Other than that, selling jewelries is surely a lucrative business. :)

A good tip I can think of once you offer these products, is to sell on the ideas. Give a story on what makes a piece special, and unique. Try to go beyond the typical product description everybody gives and find ways to stand out from the crowd. :)

Alice has listed more tips on selling jewelry for maximum profit, have a read from the blog Link hidden: Login to view

Keep us updated. :)


Irene

 

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