Once again I am publishing the Friday Flip on Saturday. Maybe I should start calling these posts the Saturday Flip. That doesn’t have any alliteration though. I was very lazy this week and didn’t write at all. This week I will write at least one post in addition to the Friday Flip post.
My plan for these posts is to share my best and worst flips of the previous month. Since I shared my best flip last week this week’s post will share my worst flip in the month of December.
Last month was a bit unusual in that I had very few items that I sold at a loss. My worst loss for the month was on the Dell Urban 2.0 backpack. I bought it for $39.93 and sold it for $31.05. Amazon charged $12.64 in selling fees. The result was a loss of $21.52.
I received a $25 Dell gift card for purchasing this backpack as part of a promotion they were running at the time. When you consider the value of the gift card I actually made a small profit on this item. My plan was to come close to breaking even on the sale of the backpack making most of the $25 gift card profit. That plan didn’t work due to the Amazon selling price declining soon after I made the purchase and the selling fees being higher than I had anticipated. That is one reason why many sellers aim to buy products at a third of their Amazon selling price. This allows you plenty of room to still make a profit if the price of the item declines or you underestimated fees.
Although I’m getting better at making buying decisions I’ve accepted that there will always be some purchases that result in losses. As long as I’m making a nice profit margin every month I am fine with the occasional loss.