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When to "dump" your flea market inventory?

Offline Cobia

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When to "dump" your flea market inventory?
« on: May 21, 2011, 11:17:10 AM »
This is more of a technical question for those in the business that put that much time and energy into thinking about these things.

My question is, do any off you use some kind of formula to determine when the inventory you have is just not worth the time and effort to take it back to the flea market and decide it's time to dispose of it or take it to Goodwill (or other non-profits) for a tax credit?

I was thinking something like:
1. If I take X number of totes full of merchandise, and return with Y number of totes still full, it's time to remove it from my inventory.
2. If I make X dollars below the avarage flea market day, it's time to remove it from my inventory.

or do you just wait till the you get better merchandise from the next locker(s) and "mix it in" with the old stuff that is not selling well, and just "let it ride".

I realize everyone must run their business as they see fit. Just wondering all of your opinions concerning the "opportunity cost" associated with holding inventory that has already been "run" through the flea market several times and has not sold.

Offline rulesforrebels

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Re: When to "dump" your flea market inventory?
« Reply #1 on: May 21, 2011, 02:14:38 PM »
I suppose another question in line with what your talking about is what stuff should be thrown away immediately?

Don't get me wrong there's osmething to be said for at least trying to sell something. Heck I had some pokemon cards I was about to throw in the trash, wound up getting a couple hundred bucks for them so had I thrown them out I wouldn't have made that money.

That said I also have cheap plates and dishes, clothes, etc that I have been sitting on for a year. Alot of the stuff probably should have been tossed immediately.

I have a bit of a hoarding problem though lol. Kidding of course but I do keep too much. Every item you take out of a locker is potential $$$, even junky tshirts can be sold as car washing rags for a quarter so I hate tossing anything and not trying to make a buck off of it.

That said it also takes up storage space, time and effort hauling junk around just to make a quarter.

Intersting question you pose though and I'm interested in seeing others answers to it.

My general rule is I'll list something on ebay 3 times at decent prices, if it still doesn't sell I'll basicallyl put it up at a price to cover cost, maybe I make 0.50 cents maybe I break even but i get rid of it and I get a point on my ebay score.

I'm all for giving stuff away for charity reasons but I always hear people talk about donations as if your making money or saving money on tax breaks. Always feels like I have tons of donations but it never makes much of a difference come tax time so don't give something away figuring it's just quicker and easier than selling b/c you would be better off making cash off it.

Offline MovieMan

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Re: When to "dump" your flea market inventory?
« Reply #2 on: May 21, 2011, 07:02:40 PM »


My question is, do you use some kind of formula ........?



No.

or do you just wait till the you get better merchandise from the next locker(s) and "mix it in" with the old stuff that is not selling well, and just "let it ride".


Yes.

Offline jrossjr79

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Re: When to "dump" your flea market inventory?
« Reply #3 on: May 21, 2011, 07:32:02 PM »
I dont do flea markets yet. But I would think I would do the same way. Like Rules I try to make a buck out of everything, but because of that I ended up getting inventory overload, so I end up doing alot of creative things. I try to sell alot of things in bulk. Good thing about my area, is that there is alot of people that resell. So I usually can, not all the time, unload alot of general merchandise that I am overloaded on to another vendor.

Clothes is another story, name brand that looks good, like new still, or even brand new, I will resell. Everything else I just end up donating, or I put it up for free on CL and try to organize it where they will come pick it up while I am having a garage sale. I sold a few things this way, not all the time, but a few times I have.

I had a bunch of those shopping bags you buy, usually made out of canvas or some sort of recycled plastic. I use those during garage sales for people who buy a few things and need a bag, so they get a free bag.


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