Turnover Tuesdays - Prices Always Come Back, Except When They Don't
For those who are not familiar, I started a series a while back called Turnover Tuesdays. Every Tuesday I like to highlight one item that I have resold. This will include profitable and non profitable sales. I hope that there is always something to learn.
The previous posts in the series can be found at the bottom of this post.
A Race to the Bottom is when one seller undercuts the price followed by more and more sellers undercutting. Prices plummet in a hurry as sellers are racing to lower the price.
When an item goes on sale from one of the big retailers, there is almost invariably a race to the bottom.
My favorite saying is that you either need to be first or last to sell anything. First because the prices are still high or last when prices finally recover. Obviously, first is far preferable but not always possible if you can't get your inventory in fast enough or you bought too many to sell before the race to the bottom begins. So I often find myself waiting for the price recovery to sell (unless I get impatient). That is usually a good strategy.
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Race to the Bottom
A Race to the Bottom is when one seller undercuts the price followed by more and more sellers undercutting. Prices plummet in a hurry as sellers are racing to lower the price.
When an item goes on sale from one of the big retailers, there is almost invariably a race to the bottom.
My favorite saying is that you either need to be first or last to sell anything. First because the prices are still high or last when prices finally recover. Obviously, first is far preferable but not always possible if you can't get your inventory in fast enough or you bought too many to sell before the race to the bottom begins. So I often find myself waiting for the price recovery to sell (unless I get impatient). That is usually a good strategy.
Read more »
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