How to sell Cosmetic & Fragrance on TRADE-ME
Once your ordered stock has arrived and you have it in your hands now it’s time to sell and make some money.
First things first let’s say you bought 500 items from The Unique Wholesale Suppliers the mix lot cosmetics brands like L’oreal, Maybelline, CoverGirl, Rimmel London etc… for $500 (Branded Cosmetics at $1).
To make money fast it works on “AVERAGE”
Let Me Explain…
Sell the more important or high valued items first through your online store or to your family and friends, let’s say you have received
70 Liquid foundations,
30 Eye Liners,
100 Lipsticks & Lipgloss,
30 Nail Stickers
200 Nail Polishes
Not everyone will buy all your products at once so all you have to do is to make sure you sell the high-value products which are also high in demand like Liquid Foundation, Mascara, or right shades of lipstick to the maximum price.
Liquid Foundation for $14 / $18
Mascara Black & Brown for $12 / $15 depending on the brand and color.
Lipsticks & Lipgloss for $12 to $18
Try to make your invested $500 back as soon as you can, remember your products will sell fast and don’t be afraid to sell to your friends knowing you are making a lot of profit, in reality, you are helping them save money otherwise they would have to pay easily double that amount that you are charging them.
Let say you sold
20 foundations out of 70 for $15, therefore, you made 20 x 15 = $300
20 Mascara out of 70 for $14, therefore you made 20 x 14 = $280
10 lipstick out of 100 for $12, therefore, you made 10 x 12 =$ 120
5 Black Eye Liner for $14, therefore, you made 5 x 14 = $70
Total products sold 55 out of 500 and you made $770! now you want to sell other remaining stock as soon as possible, I am saying soon because you want to make money fast and not hang on to the stock, you want to have more cash with which you can start buying bigger and bigger stock and keep selling more.
Once you get your $500 investment + more back it’s time to go for ……$1 reserve auction…… on Trademe for remaining stock.
Now you have around 450 items in your hand. You make a Mix lot of your own with some Foundations, Lipsticks, and mascaras, nail polishes etc. Make Mix Lot of 100 items and list them under
Health & Beauty > Makeup > Bulk Lots, and start your auction with $1 reserve.
This is called Liquidating the stock, the same way you bought your original stock were company had made money and now they Liquidated their remaining products and you bought it to further make money on it.
You should easily get around $200 or more for you mix lot on Trademe auction, once you get the winner on your auction you send them the parcel and tracking number.
Always give Feedback and don’t be shy to ask for one as well because that is also very important to make on-going future sales.
Let see how much money you made in this process, You made $770 + trademe auction on average 100 items for $200 you had 450, therefore you made $900, that comes to the grand total of $1670 – $500 your initial investment comes to $1170 profit. that you just made from your living room.
FEW TIPS FOR SUCCESSFUL SELLING ON TRADEME
1. Research how your other sellers are selling the item
Spend 10 – 60 mins checking out the competition before you list your item.
What headline are they using? How can you improve on it? What extra keywords are they missing?
What photos have they taken? How can you improve the angles and detail?
What questions have bidders asked? Avoid annoying your bidders by answering these questions ahead of time in your description.
What do they say in their description? What extra details are they missing? Can you tell a story (about the reasons your selling) or write an interesting story about the item?
Your task is to learn from their mistakes.
2. Set the auction close to 9 pm Sunday night
What you want is a bidding frenzy in the closing minutes of your auction.
To get this, an auction close at Sunday night will mean all your auction watchers will get an email that morning reminding them to come back that night for the closing minutes.
If your auction ends on a weekday, or too early in the morning, or too late at night, you will miss out on that bidding frenzy.
3. Run your auction for 10 days
Did you know it costs only 25c to run your auction for an extra 3 days? You’ll make that money back many times over.
All you have to do is start your auction after 9pm on Thursday night (or first thing on Friday morning).
(Don’t forget to set the end date manually to 9pm the following Sunday as per the tip above).
4. Be ridiculously honest in the description
I mean over-the-top honest.
When you describe the defects and imperfections in detail, buyers get giddy with trust and bid more and more.
Your natural tendency is to not mention these defects. You think it will scare some people off. Sure, some people will be scared off. Let them go. Lot’s more people will be attracted like seagulls to fish n chips. So fight your instinct to hide the defects. This tip will make you money.
It works because on TradeMe we are all strangers. We are strangers buying from each other for the first (and last) time, so we are looking for reasons to trust each other.
We trust shopkeepers that we can look in the eye. We trust online e-commerce sites that look professional and legitimate. But it’s hard to trust a stranger.
Do I trust you will pay? Do you trust me that the goods will turn up in the condition you expect?
Revealing defects and imperfections generates trust.
Trust is highly valuable.
People pay more when they trust you.
5. Always sell at $1 No Reserve
What is the number one reason people flock to TradeMe in their millions every day?
“To find a bargain”
And nothing screams “BARGAIN!!” more than “$1 No Reserve”.
Put “**$1 NO RES**” at the end of your title and at the top of your description.
This works because it gets bids very early – within minutes or a few hours of listing you should have a few.
And most important of all, each person who places a bid is automatically adding your auction to their watchlist, so they will get emailed next week to say your auction is about to close. That gives them another chance to make another bid, and that’s when you get a last-minute bidding frenzy.
I know, I know, it’s a little bit scary selling at $1 No Reserve. But trust me, this works. (TradeMe will charge you a $3 withdrawal fee if you get scared and cancel the auction).
I do $1 No Reserve on everything I sell on TradeMe.
My biggest success was when I did $1 NO Reserve for my 2000 COSMETICS ITEMS. (My wife was freaking out and thought I was crazy).
I’d been offered $2000 cash from one of the buyers in the auction but got $4500 in my TradeMe auction. Probably $1000 above what I thought it was worth.
This works. Do $1 No Reserve.
Let the market decide what your item is worth. It might be worth more than you think (especially when that buying frenzy kicks in).
Another bonus is that your item will sell. You don’t have to muck around re-listing your items and waiting even longer to convert your junk to gold and get that gold in your pocket where it belongs.
6. Pay for extra photos
Yes, yes, it is a bit cheeky that TradeMe charges you an extra 10c for photos these days, but its worth it.
Upload about 5 photos of your item from a variety of angles. Include a few photos of all the items laid out nicely on a table, photos of the packing/box, and most importantly: close-ups of any defects or damage.
This is less about being honest and fair and doing the right thing (although that’s important), and more about boosting your credibility so the bidders trust you more and bid more.
7. Pay the extra $3.95 for Feature Combo
This adds a photo beside your listing, TradeMe says its “twice as likely to sell” (and I believe this claim), the title is bold, and it features your auction first in the categories.
This is a classic Return on Investment decision: ask yourself the question “will I get more than $4.00 extra for my auction with this extra exposure?”
The answer is Yes, yes you will.
“The Unique Wholesale Suppliers”