I am an Antiquarian.

August 30, 2015

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August 30, 2015

What happens when your children show an interest in selling on Ebay.

August 30, 2015
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8/30/15

So all 3 of my boys (now 10, 13 & 16) have started getting interested in finding inventory for me to sell online.  They are all wanting to make some $ and know that this is one way they can do so (although my 10 year old has been setting up a Rainbow Loom bracelet sale on our street too…made $30 one time!).

wisdells

My 16 year old picked this hat up last year while we were thrifting..it sold this morning!

My 13 year old found these vintage Packers Superbowl 1997 glasses.

My 13yo found these vintage Packers Superbowl 1997 glasses.

Why shopping at the thrift store is now stressful for me when the kids come along.

Thrift shopping used to be a leisurely activity for me, but now has become a bit stressful.  The kids confiscate my phone (for research purposes) and now are constantly coming to me with items.  “Mom what do you think of this?”  “Mom this is made in Japan!.” “Mom, isn’t this a cool mug?” “This is going for $9 on Ebay Mom, should I get it?” Last time we were thrifting it seemed that every couple of minutes they were running to me with items they thought might be worthy of seeling on Ebay.

Mom then needs to explain that they should check completeds to see if this item has actually sold and at what price.  Did it include free shipping? Or was the selling price with free shipping?  Mom then needs to explain that after shipping costs (if free shipping) and Ebay/Paypal fees, there’s not much profit left.  I also have to tell them to keep it down a bit too..sometimes my youngest gets a little to excited and starts calling out to me from afar!

They are actually starting to understand how this whole Ebay business works and that you can actually make some $ selling on there.

How do my kids get paid?

Right now they are earning a finder’s fee.  I’m paying them about 20% of the sale price.

They have indicated an interest in wanting to handle the entire process themselves:  finding the inventory, cleaning it, photographing it and then just having me list it and then I would get a commission for listing it for them.  LOL  Well, they found a few things and then they have just been sitting there…so we are reverting back to the 20% finders fee for them.

If your kids are involved in your Ebay selling, how do you pay them?  What is your process?

Did I ever tell you about this 21 year old kid who makes over $120K selling on Ebay?

A couple of years ago I was listening to Dave Ramsey (you know I love his audio archives) and this 21 year old kid calls in.  He proceeds to tell Dave that he has a lot of extra money that he’d like to invest on a monthly basis and wasn’t sure what he should be investing in. So Dave inquires as to how much he makes and the kid says he brings home a little over $120K a year after taxes…that’s PROFIT!  Dave always asks what people do for a living, especially making that kind of money and being so young.

The guy explains that he sells on Ebay and Craigslist and that he grew up in the business because his parents were Antique Dealers and sold on there as well.  He said he goes to auctions and garage sales, and anywhere else where he can buy items to resell.

I repeat this story to my kids ALL..THE..TIME!  But I also tell them that it doesn’t come easy.  They actually have to work for money…it doesn’t just magically appear.

Now I don’t know who this person is, but I love hearing these types of success stories.  Not only is he good and making the money, but he’s smart as hell to want to save that money so that it can work for him and bring him a passive income..they are his employees after all!

I am loving that the kids are getting interested in sourcing inventory for Ebay.  They used to hate going garage saling and thrifting with us.  Now they are excited to go.

What about your kids?  Are they showing any interest?

21 comments

  1. I love this post. Love that all your kids are interested. And I have one of those packer glasses!

    I like your idea of paying them a finders fee instead of doing most of the work and them getting all the profits…

    I see those items were from my neck of the woods. Nice trucker hat 🙂

    1. Thanks Nancy. Yep, they were all purchased in Wisconsin! I don’t travel anywhere without stopping in a thrift.

      We’ll actually be only about an hour away from you on Saturday. We’re going to the Walworth County Fair in Elkhorn. Charlie Daniels Band is playing…plus we’ve heard it’s a great one. The kids are really looking forward to it…well so are we! It’s only about an hour and 40 minutes away from us here in Chicago. 🙂

      1. The Devil Comes Down to Georgia? Am I remembering right? Sounds like fun! Let us know what sinfully good fair food you eat 🙂 I haven’t been to a fair in years but I keep reading about new concoctions that the fair food vendors are offering. They sound terribly great.

        1. Yep, you got it. But now I’m a little bummed as I don’t think we’re going. My hubby’s car broke down today and we had to spend over $400 on it. 🙁

          Maybe next year.

  2. Thats don’t of that you’re kids are interested in this type of work! Definitely a love hate since you’re becoming their manager though.

    My brother helped out with my dad at his warehouse this summer. He was able to make a lot of cash by photographing and listing. Who knows if he’ll have an interest in doing this on his own though.

    1. Even if he has no interest in selling now he will always know that if he is in need ebay is there.

      I often think of how it would be if more people who are unemployed, underemployed, etc knew about ebay and used it to supplement their income.

    2. Chris, I’m fine with whatever they decide to do. One of my 16 year old son’s best friends sells on ebay and brought in $20K last year. That gets him excited and wanting to do it..but then doing is another story..LOL

      Nancy, you’re right. If ever he were looking for some extra cash, he will have the know-how to make it happen.

  3. I actually am in (kind of) the opposite situation. I’m the “kid” and my mom is starting to get interested in selling! I’ve been selling on eBay, Amazon, and some on Etsy since I started college. Before it was more of a hobby and a way to justify my addiction to thrifting (which started when I worked in a thrift store during high school). Since graduating I started looking into reselling more seriously and that’s when my mom starting becoming interested. She had never known that there was such a market for used things and it fascinates her. She’s just got a smart phone and I’m working on teaching her the ins-and-outs of doing research while you’re shopping for inventory and how to figure out what to buy. It’s fun to teach her and is turning into a new mother-daughter project 🙂

  4. I don’t have any kids but I think it’s pretty cool that they are showing the entrepreneurial spirit at a young age. There is nothing like making your own money.

  5. i love this post! the 20% finders fee is a great idea! my 9 year old has been interested in the last year or so. He and my mom went to a yard sale and he got some items out of the free basket and looked them up on eBay. While they weren’t worth anything I was still pretty impressed (we never had a “discussion” and they were 6 states away so I didn’t find out till later). The couple things he has sold I take out all fees and then like 25% commission (as a lesson in that if you don’t do your own work you pay someone to do it for you). They really do watch 😀

  6. Ha, I wish I had kids that would sell on Ebay for ME. I am too busy to and have kids with that interest would be great! The finder’s fee is a good idea too.

  7. My oldest is only seven, and loves going to yard sales but hasn’t shown much interest in selling yet. A couple weeks ago we were at a yard sale and he found a NIB set of Legos. He brought them over to me all excited. It was a small set, and it had a $10 price tag. While he gets excited about finding any Legos, this wasn’t a set that had characters that he specifically liked or anything. I had the momentary thought that I should have him buy the Legos, sell them for a profit, pay himself back and still have some $ left over to buy some Legos he would care more about. A good lesson in how it could all work. And then I looked up the Legos he had found and saw that they only sell for $12 on Amazon. So, nevermind. I do think selling on eBay would suit his personality . . . eventually.

    1. Hi Kari,

      My kids have done that with some lego sets. However, our goodwill has gone crazy in pricing them high and then printing out ebay listings. This has started happening recently. But you can always haggle a bit at a yard sale! 😉

  8. My youngest has shown some interest, and she does have a pretty good eye. She was helping me sort through junk boxes that I purchased an auction, and she noticed an enamel tea set. She said, “Mom, this is going to do very well!” She was right. It sold at auction for $71.00 plus shipping.

    1. That’s awesome. That was a nice sale. I think it’s great when kids get interested. If they have the discipline, it’s a great way to make some extra money.

  9. I usually go garage saling early Saturday mornings and thrifting by myself or with my husband. My 14 year old has no interest in reselling (he wants to be a computer programmer – but he’s currently taking a Dave Ramsey course so he will hopefully be money wise as he gets older). He has found a couple of things to resell (he has an eye for vintage electronic games). My 12 year old once found a vintage Danish wood dog for $1 at a yard sale and in the last minute it sold for around $70. My 10 year old sometimes likes to go with me, but doesn’t really have the interest in reselling yet. Though he is great at finding money (we keep a jar with all money we find in parking lots, etc., and the other day he found $45!). My 7 year old has Down syndrome, so hopefully when I get older she’ll be my side kick. Anyway, all that to say that none of my kids really have got the itch to resell but get thrilled for me when they hear the cha-ching on my phone.

    1. Who knows how long mine will be interested in it. I had my 16 yo son helping me last year..but now he has another job and is no longer interested in helping his mom. LOL

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