How I Sold a $5 Magazine for $27...

I've mentioned ebay as a spot to find some nice deals, but it can also be a nice spot for selling things too -- handy for getting rid of items you've accumulated over the years. There are ways to improve your ebay odds, and on one particular auction I found out just how nicely it can pay off.

I owned a collection of magazines dating back into the mid-1950s, and had some extra issues. Thinking they would make good birthday presents (for milestone-type birthdays like 40 or 50), I decided to list a bunch on ebay. Before I did, I checked to see if others were on sale and what they were fetching. To my dismay there were several of many issues and they were getting about five bucks apiece. Not as much as I'd hoped but these were still excess issues so I still wanted to move them.

One of the things I've found about ebay is the importance of using the 55-letter title as well as possible to get the most views. Many sellers just seem to list a bare-bones title with rudimentary information, and miss the chance to list a few other details. Those extra details could be the make-or-break in whether a potential buyer even finds your auction. They may be searching for something slightly different and with those other words may get to yours. The more buyers who see your listing the better the chance that several will bid.

So before listing any of the magazines, I skimmed through the issues to find items of interest, which I then added to the title block for my listing. For many of them, the item of interest was easy to find, whether a famous person's interview or pictorial or some other special feature. I reached an issue where there just didn't seem to be anything. November 1957, I believe. No big names, nothing that jumped out. The best I could find was a small 4-page item with pictures of private planes...

Since that was the only thing I could find, I used it. The title had the name of the magazine and the issue date, the idea of a birthday gift, and a couple of the planes' names... Cessna, Pilot etc.

Funny thing was that this issue then became the target of a small tug-of-war between two bidders! Based on their ebay names it looked like both of them were interested in airplanes and/or were private pilots. Back and forth it went for a few days, and by the end the higher of the two had bid the price up to $27!

All this while several other issues (same month and year) were still up on ebay in the five-dollar range. Once the two bidders had latched onto my auction they never went back to search whether the same issue was offered elsewhere by just checking the basic name/date of the magazine. They had gotten interested because of the private plane pictorial and were intent on winning that auction.

This reinforced the importance of cross-promoting -- trying to find ways to interest people from two or more areas to get interested in your offer... if you can expand it beyond the "typical" market, the results might be a pleasant surprise.

Price-Matching Policies, or How I Saved $75 on this PC!

If you look at the policies of many stores, one of the hidden benefits is the concept of price-matching. They will meet or beat any price if you show them proof a competitor is selling the same item at a lower cost. Some will even refund the difference if you buy something and then find a lower price elsewhere. It's a way of reversing the risk, making it a bit easier for the purchaser to go ahead with buying, having a little bit of 'insurance' against finding a better deal later and regretting it.

I saw a suggestion a few months back on a webpage board about asking for price-matching. I used it and got a store to drop the price an extra $75 on the laptop I'm using to post this blog. Here's what happened:

I had gotten to the point of being ready to upgrade my old PC and started researching what make/model/specs would meet my needs. I had found one laptop that seemed to offer good bang for the buck, with a 17" display, good processors and hard drive as well as brand reputation. Then looking through the Sunday paper one week I found that two retailers, Circuit City and Office Depot, were offering a sale on that model. Both of them had an ending price of $699 but the forms they took were different. Circuit City simply had a $699 price, while Office Depot offered an $849 price with a $150 rebate.

My normal way of thinking would have been to go to Circuit City as it would be less money out of pocket, less in sales tax and none of the rebate paperwork. But the price match suggestion I had read triggered me to try something else. The suggestion had been to ask in this kind of situation if the price-match policy for the store would be matched to the selling price at the other store. In other words, if Circuit City's price was $699, would Office Depot match that price? And the item would still be valid for rebate so the final cost would be lower.

The poster who made that suggestion said his local Office Depot had said yes to this kind of situation but that they knew him. One of the things about price-match is that it is largely at the interpretation and discretion of each store manager.

I figured it couldn't hurt to try. The two stores has locations about a mile apart so I wouldn't burn a lot of time or gas if I needed to go to both. So, ads in hand, I set off for Office Depot. I found the PC, double-checked the specs, model and price and then got some sales help. When I said I had a question about price-matching, the department manager came over and I asked if they would sell me the PC that day at the price offered by Circuit City (I told him I was ready to buy that day). He only took a few moments and then said he would do the price-match. I was thrilled. To get the better price and the rebate -- best of both worlds, right?

A couple of minutes later though, he returned with some bad news-- the store manager wouldn't do a full price-match because of the rebate offer, but they still would knock $50 off the price. Sounded good, but I figured it was an opening to negotiate a bit. I asked them if they would do $75. The store manager agreed, and voila! I had a computer + $75 less than I would have had to spend otherwise (actually about $71 with the sales tax difference).

I figure the store is still making money on the sale (they wouldn't agree otherwise) and I walked away a bit happier. I think it helped that I tried to create a win-win with my offer -- if they accepted it they would get my business on the spot. So my tip for the day is to check around for price-matching policies when you are looking for big-ticket items, the kinds that might be offered by a variety of stores. Know that it will be up to the store personnel's discretion, so use an approach that is positive and gives them a reason to want to match. And don't be afraid to at least ask.

When is a Good Deal a REALLY Good Deal?

It's really a good deal when it's right for your situation. But that doesn't just mean that you need to get the item/trip right now. By expanding the way you think about deal-hunting, you can find more and even be of help to friends and family. You can match bargains with something you planned for the future or match great deals with someone you know is interested in certain things.

To expand the list of what I consider great deals, I try and keep several shopping options open while I look. My hunting isn't just for myself to buy at that moment in time , but other ideas as well. I try and keep ideas in my head for future gift-giving occasions. Who says you can't buy Christmas presents in February? If you have someone with a passion for Swatch watches and you find an amazing deal in February, consider buying it then and having it ready to give at Christmas. Saves time later in the year too.

Also try and keep in mind where your friends and relatives live or where they like to travel. Then, if you find a great deal on Travelzoo or Shermans Travel, call them and let them know, or email the link. Last year I found an amazing airfare on SAS from NY to Warsaw and sent the link out to my Polish relatives. Even though the timing wasn't working for me to travel during the special, I wanted them to have the chance to take advantage of the deal.

Tell your friends and family about some of the deals you've found. Often, they'll mention an item they've been looking for. That way when you're looking, you can keep an eye out for their items as well. Since I look at deal-hunting as a game, I figure I've won the game even when I'm not the buyer -- I've won when I can tell my friends or family about the deal and they get the win too! Had a friend tell me he was looking for a 4Gb SD card at lunch this past Wednesday and on Friday I spotted a bargain with a rebate and let him know.

To me the making of a great deal is the match-up of what's needed/wanted with a great price for it. By expanding the field of people and time-frames, there are more deals to be had, and more fun too. If I know people can benefit, it makes the searching for deals more inviting.