$40 Challenge Week 1

$40 Challenge Week One Update – Progress


It’s time for the first update to the $40 Challenge.

Thanks to Gary Vaynerchuk and his #2017FlipChallange, I have an end goal to attempt to reach.  Gary V challenged all his listeners to flip items and make $20,170 this year.

Thanks, Gary!

By the way, this post may contain affiliate links so I can make a few pennies for that pickle jar.  You know how it is.  Only stuff I believe in, though.  See full disclosure.

Now, my goal is to turn my $40 into $20,170.  That’s a lofty goal.

Granted, my total for his challenge will also include items that aren’t included in this challenge.

I may be more of a challenge keeping track of everything.  Thank God for Easy Auction Tracker.

Think I can do it?

 

What I bought

I posted about my first shopping trip of the year already.

For those of you who didn’t bother to read that post, what are you waiting for?

Nah, just kidding.  I bought:

  • 3 Men’s Shirts
  • 1 Men’s Sweater
  • 1 Girls Coat
  • Lot of Books
  • Lot of Magazines

I had $15.50 left over.  I haven’t been shopping again this week.

 

Listing the Stuff

I got everything that I bought listed for sale on eBay throughout the week.

Keep in mind, I do have a day job, so I have to do my eBay at night and on weekends.

As I was photographing the books, I found that a few of them were actually signed by the author so that was awesome.

The Listing Process

People seem to think that selling on eBay is difficult.

However, it is easier than ever.  When I started selling back in 2002, the process was insane.

Simply download the eBay app, snap a few pictures, and create the listing.

The most difficult part for most new sellers is calculating the shipping costs.  All you really need to get this right is a scale that will measure both ounces and pounds.  Weight you item, including packaging, and use the “calculated shipping” option.  eBay will do the rest.

 

What Sold

These are the items that sold this week.

Profit

Of the items that sold this week, this is the breakdown of profit.

Amount still Available for Sourcing – $15.50

Weekly Profit (after eBay/Paypal fees) – $56.50

Yearly Profit to Date – $56.50

I’ll update you again next week.

 

Do you want to learn how to make money on eBay?

We have lots of posts to help you out.

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About Susan

Susan is an Early Childhood educator who is passionate about personal finance. She is slightly addicted to eBay. She is an avid thrift store shopper who hopes to "retire" by 50.

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