Post by Bookworm on May 1, 2013 16:52:28 GMT -5
One of my hobbies is treasure hunting for valuable books and DVDs at booksales and clearance racks.
My early memories of doing this a few years ago are of feeling a little silly, like I was the guy with a metal detector at the beach, hitting on aluminum foil and bottle caps. The feeling of awkwardness stopped immediately when I realized I was almost literally "detecting" dollar bills. The were everywhere, invisible, and I was the only one who could see them, and almost feeling guilty for being able to. Back then, I used a pocket computer with a laser reader attachment, and hit a static database to see how many items of each type were for sale, and in what selling categories.
This worked well enough, and I made money doing it even though the computer/laser/software rental was about $45 per month. I went out every week or so and invested my money and my kids' money (about $1000 in cash over a year) doing it. My kids each doubled their money from about $150 to $300 each, and I made enough to pay off the rental fees and about half of a version 1 iPad.
To get away from the computer/laser/software rental, I decided to use Giggil.com's "price only" mode to scan books. I got a Scanfob (bluetooth) laser reader and used it with the iPad to almost pay them both off.
If one was in a generous mood, one could say my hobby was break even at this point. I sold a LOT of books and DVDs. I did convince my wife that the iPad was "for work" and we still use it every day.
The StuffRaiser app is a game changer for me. I've got my iPhone with me wherever I go, and there are no recurring fees I have to get out from under each month just to break even. There are no databases to update. I stop at garage sales, thrift shops, and I love clearance racks of books.
For treasure hunting, the Price Only mode is invaluable because I know immediately whether I should buy an item or not. My personal rule of thumb: I aim for 30% profit on top of what I pay for an item. Even if the price deflates, I have a good way to go before I break even, and I'm not likely to lose money.
An example from today: I'm shopping at a local thrift shop with my teenage daughter. While she looks for clothes, I'm going through the Reference, Family/Health, and Religion sections of books. In fifteen minutes, I found a $0.99 book with an Estimate of about $1.71 (about 71% profit to me), and another $2.49 book worth about $7.53 (about 67% profit to me). In a world where everyone wants to do better than the pittance the banks pay for savings accounts, these kind of numbers make me a happy camper.
I get a kick out of being in a public store with people around, and spotting dollar bills all over the ground, knowing that no one else can see them.
The thrift shop is happy when I buy their books and support their not for profit. A customer is happy when they buy a perfect book from StuffRaiser. Amazon and UPS are happy. StuffRaiser is happy. I get paid for making people happy. What could be better?
The cycle restarts every time someone cares enough to donate to a not for profit thriftstore.
My early memories of doing this a few years ago are of feeling a little silly, like I was the guy with a metal detector at the beach, hitting on aluminum foil and bottle caps. The feeling of awkwardness stopped immediately when I realized I was almost literally "detecting" dollar bills. The were everywhere, invisible, and I was the only one who could see them, and almost feeling guilty for being able to. Back then, I used a pocket computer with a laser reader attachment, and hit a static database to see how many items of each type were for sale, and in what selling categories.
This worked well enough, and I made money doing it even though the computer/laser/software rental was about $45 per month. I went out every week or so and invested my money and my kids' money (about $1000 in cash over a year) doing it. My kids each doubled their money from about $150 to $300 each, and I made enough to pay off the rental fees and about half of a version 1 iPad.
To get away from the computer/laser/software rental, I decided to use Giggil.com's "price only" mode to scan books. I got a Scanfob (bluetooth) laser reader and used it with the iPad to almost pay them both off.
If one was in a generous mood, one could say my hobby was break even at this point. I sold a LOT of books and DVDs. I did convince my wife that the iPad was "for work" and we still use it every day.
The StuffRaiser app is a game changer for me. I've got my iPhone with me wherever I go, and there are no recurring fees I have to get out from under each month just to break even. There are no databases to update. I stop at garage sales, thrift shops, and I love clearance racks of books.
For treasure hunting, the Price Only mode is invaluable because I know immediately whether I should buy an item or not. My personal rule of thumb: I aim for 30% profit on top of what I pay for an item. Even if the price deflates, I have a good way to go before I break even, and I'm not likely to lose money.
An example from today: I'm shopping at a local thrift shop with my teenage daughter. While she looks for clothes, I'm going through the Reference, Family/Health, and Religion sections of books. In fifteen minutes, I found a $0.99 book with an Estimate of about $1.71 (about 71% profit to me), and another $2.49 book worth about $7.53 (about 67% profit to me). In a world where everyone wants to do better than the pittance the banks pay for savings accounts, these kind of numbers make me a happy camper.
I get a kick out of being in a public store with people around, and spotting dollar bills all over the ground, knowing that no one else can see them.
The thrift shop is happy when I buy their books and support their not for profit. A customer is happy when they buy a perfect book from StuffRaiser. Amazon and UPS are happy. StuffRaiser is happy. I get paid for making people happy. What could be better?
The cycle restarts every time someone cares enough to donate to a not for profit thriftstore.
