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Archive for June, 2012

  1. ar·bi·trage
noun /ˈärbiˌträZH/

  1. The simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset

I have sold on eBay on and off for a long time now.  I don’t consider myself an expert but I have learned quite a bit over the past 9 years. One of the things I have heard about over and over again, while researching what I should sell on eBay, is arbitrage.

As the definition above suggests….arbitrage is the simultaneous buying of one item at a low price and then turning around and selling that same item somewhere else for a profit.

I have been very interested in trying this out for awhile now and I have decided that now might just be a good time to try it.  There are several ways that you can use this technique and I will list them below…..but basically ANYWHERE you can find a bargain on something that others want….you can have the perfect opportunity for arbitrage.

If you Google eBay arbitrage you will find a slew of articles on how to find bargains on eBay itself and then turn around and sell them back on eBay for a profit.

One way to do this is to look for misprinted key words in the title of listings.  If someone has listed an item with a misspelled key word it will not show up when a buyer puts that key word into the search box.  If it doesn’t show up it can’t be bought.  This can be an opportunity for you to swoop in and pick it up for a song.  A really great website that can help you with this technique is called Fat Fingers http://fatfingers.com/ .  With this site you can enter the name of what you are looking for and it will bring up the actual listings in eBay that are misspelled.

Another way to find items to buy and sell for a profit is to look for auctions that are ending in the middle of the night or the wee hours of the morning.  What a lot of sellers on eBay don’t think about when they are listing their items is when their auctions will end.  They will get on their computers late at night and start listing items that will end at the same time in 3, 7 or 10 days.  The numbers of sellers listing at night far outweigh the number of buyers buying at those hours.

You can also look for auctions of items, that you know would sell for a great profit on eBay, that are not getting any bids because of something wrong with their listing.  Either they took a horrible picture, or they didn’t take enough pictures to really show it off well enough, or maybe they could have done something to the item such as clean it up a little.  If you know you can do a better job at listing this item and getting it sold for a profit it might just be worth the risk.

One last way of finding bargains for arbitrage is looking for items that are selling as a lot (a “lot” is when several items are sold all together in a bunch) but would sell for much more money if they were broken up and sold individually.  One great example of this is from one of my favorite eBay/Amazon gurus Skip McGrath.  I get his email newsletter bimonthly and I keep everyone of them to reread over and over again.  If you are interested in subscribing to the newsletter here is the link http://skipmcgrath.com/newsletters/  In his email newsletters Skip will sometimes have a “Niche of the Month” article.  One of these articles was about selling Starbucks mugs.  He spoke about how you could find a lot of Starbucks mugs for a bargain, break them up and then resell them individually for a profit.  Here is the link to that article if you want to read it for yourself.  http://skipmcgrath.com/newsletters/current.shtml#four

There are other ways, besides finding deals on eBay, to use the arbitrage technique.  You can find bargains everywhere you go!

Yesterday I was at Big Lots and found Nutristystem food items on sale 3 for a $1 or .33 cents each.  I happen to know that nutrition and weight loss products are big sellers on eBay so I looked it up…..those same Nutrisystem food items were selling for $1-2/piece on eBay!!

How about your local pharmacy, CVS or Walgreens?  I read a story one time (it might have been in Skip’s newsletter again I can’t remember) about a guy who was at his local Walgreens and found that a big name men’s razors were on sale for $7.  Now everyone who shaves knows how ridiculously expensive razors can be.  He quickly looked it up on Amazon to see how much they were selling for…..$30 bucks each!!!  You can bet he snatched those up!

It doesn’t have to be big ticket items and it doesn’t have to be electronics or expensive toys.  The littlest thing can bring you big profits!  While I was doing research for the Nutrisystem items I decided to look into beauty products, since they carry a lot of that at Big Lots, and I stumbled upon hair dye.  What I found there surprised me and I will be making another trip to Big Lots soon.

Use your imagination.  What do you buy that is horrifically expensive that you would buy up in a heartbeat at a cheaper price on eBay??  Chances are someone else is looking for that same item.

Or how about those fun outlet stores???  There are a lot of women out there who are making a killing buying designer clothing and accessories at outlet stores and reselling on eBay.  This too is considered arbitrage.

What about you crazy extreme coupon people out there???  And Seasonal Sales…..the list can go on and on and on.

These are just a few ideas to get you started on your way to arbitraging your little heart out.  Keep your eyes open and the next time you see something that you just know is a killer deal……look it up on eBay and see how well it is selling…..you might just have a great arbitrage item!

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Just a little update to begin with……last week I spoke to you about how you can find temp work while on the road and today I am writing to you from a temp assignment that I picked up in Omaha.  I am working as a receptionist for a real estate office.  So yes it can be done!

I am currently looking for more temp work outside of Omaha since this assignment is only for this week.  Maybe Des Moine, IA or Kansas City, MO.  This is the nice thing about temp work…..I’m not tied to one area and since these areas are only a few hours away it is easy for me to look while I’m in Omaha and then drive there IF I get an assignment.

Today I want to talk to you about two really great places to get ideas (outside of the box ideas) on how to make money.

1.  I have mentioned this site more than once before but it is such a great site that I think it bears repeating…… The Rat Race Rebellion is a site that searches for work from home jobs and researches them to make sure they are legit.  If you go to their site make sure you sign up for their email alerts.  I get an email from them every day with interesting work opportunities.  And you might just be surprised at what kinds of jobs are on the site……I’m not necessarily talking about low level jobs here.  You will find everything from mystery shopping to openings for engineers.

www.ratracerebellion.com

2.  Another site that I love to troll is actually a YouTube site.  The guy who makes these videos is called KingHuman so if you go to the main page and put his name into the search box you will come to his YouTube “home page” and will be able to see all of his videos.  Now I have to warn you he can be a little on the obnoxious side but I think he has some really great out of the box ideas!

He makes more than just videos on how to make money so you will have to sift through his videos to find the ones specific to making money.  When I came across him on YouTube I spent an entire week watching each and every one of his “making money” videos (I think they went back to 2008) and I was just amazed at the stuff he came up with.  Just like the Rat Race Rebellion he gives a very wide range of things to do….. it isn’t just online computer type stuff.

One of my very favorite videos from KingHuman I wish I could pull off myself because it just sounded like a lot of fun but I think I’m really a little too old to pull it off!  His idea consisted of buying a bunch of flashing, light up items, such as rings, from a wholesale distributor and then selling them at a bar/rave/party/festival etc.  He wasn’t talking about setting up as a vendor or having a stall or anything like that…..he was just talking about walking into a bar wearing the stuff and when people asked where he got it he said “oh I have some here in my bag….you want one??”.  I just love that idea….it sounds like fun.  I thought maybe my kids would have fun with that…..but they aren’t quite as adventurous as me!!

The other thing you should know about these videos is that they are not 100% “tell me how to do it” type videos.  He is real big on telling you to do your due diligence and figure it out.  Basically this is a way to get ideas…..things you might not ever have heard of before……expand your mind……maybe you can take one of his ideas and put your own spin on it.

http://www.youtube.com/user/KingHuman?feature=watch

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My friends and I often discuss how lazy we are….that we never go and see the historic or tourist locations in our own home town.  I am absolutely the worst about this……as much as I love to travel you would think that I would  be better about that….especially since I have lived in some pretty cool places!  I grew up in Annapolis and never really did the “tourist” thing there…..there are a lot of places in Annapolis that I would like to go back and check out.  Last year I spent 10 months in Alexandria, VA which is on the outskirts of DC……I did nothing!  I was so busy with my “life”.  Now that I am in Omaha I am realizing how many things that I missed when I lived here back in 2003.

Since I am low on funds I have made up a list of FREE things to do in Omaha that I will be exploring FIRST.  Then I will move on to the CHEAP things to do 🙂

The other day I went and visited The Boys Town Museum and the Boys Town Chapel.  Living in Omaha you hear about Boys Town all the time….but for me it was just a matter of seeing the signs all over the place for advertising….I never really knew the significance of the place.  I wasn’t around when the movie came out in 1938.  The museum was a lot nicer than I really expected it to be and the Chapel was gorgeous.  You can easily do the museum in 30 to 45 minutes (depending on how detailed you are on reading every single word).  This would be a great place to bring slightly older children (I had a 7 year old with me and she was mildly interested but bored quickly)….small children will not be real interested.  There is a bus that you can climb into and explore which was really fun for the 7 year old but the rest of it was only mildly interesting to her.

If you have small children there are several splashparks around.  This is a great alternative to crowded public pools.  My friend and I found one in Millard on Seldin Drive and spent a few hours there with his daughter.  I wish these had been around when my children were small.  The smallest child could play without too much danger….certainly no drowning.  There was plenty of grass and open spaces for families to spread out blankets and have picnics and that is just what we did.  There is also a regular playground and porta potties!

Today I am going to go explore the Mormon Trail Center…..yet another thing I never explored when I lived here…..and it’s FREE!!  Saturday I am going to go to the Joslyn Art Museum to see the Egyptian Exhibition.  Saturday mornings from 10 to noon the Joslyn is open to the general public for FREE.

Below I have listed some other free things to do in Omaha…..I will be exploring them over the next few weeks.

Bemis Center for Contemporary Arts

Heartland of America Park

Bob Kerrey Pedestrian Bridge

Lewis & Clark National Historic Trail Visitor Center

Lewis & Clark Landing

Gerald R. Ford Birth Site & Gardens

Jazz on the Green

Playing with Fire Concert Series

Shakespeare on the Green

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