Biggest eBay Seller Success Stories: Estate Auctions Inc
Profile: Norb and Marie Novocin
eBay user id: estateauctionsinc
eBay Store: Estate Auctions of Delaware
Top Rated Seller
Positive Feedback: 100%
Date: Feb 1st – 22st 2016
Norb and Marie Novocin started their Estate Auctions Inc family business on eBay in 1998 with all $.99 auctions and they are now one of the biggest eBay seller success stories! While their name may not be quite as popular in the social media groups, one look at their numbers shows that they have a real business going.
We accidentally ran across their eBay store a few years ago. We’ve been following them for awhile and wanted to share their obvious success with you all.
Using the Competitor Research Tool within Terapeak, here are their results from Febuary 1-22.
click to enlarge
Data: Based on eBay listings and sales from February 1st, 2016 through February 22nd, 2016
Total Listings: 1019 (this is really ended listings that include Sold listings)
Items Sold: 988
Total Sales (Revenue on final sold price ONLY): $84,891.38
Average Price (Sale Price- does NOT included shipping): $85.93
Sell Through Rate: 96.96% – This means they are selling 9 out of every 10 items they lists on average. This is very exceptional!
Based on their listings and profile, here is what we were able to find out about their strategy:
The started selling on eBay 18 years ago.
The maintain 100% feedback.
They use “YQZ” at the end of their titles (meaning “Your Quality Zone”) so buyers can easily search “YQZ” and find their items.
They are one of the top sellers in antiques, collectibles, and quirky items on eBay.
ALL of their listings (except one) are $.99 auctions (plus shipping, of course).
Also, they are eBay Trading Assistants with consignors from across the country.
They have added a subtitle to all of their listings. This gives their customer a little more information about the item before they even click on it.
Now, let’s do some computing based on the scenarios above:Total Sales (Final Sales Price) $84,891.38Additional dollars received for shipping costs (most items are big, so we’ll guesstimate an average of $10 per item)$9,880eBay Final Value fees incurred @ 9% average$8529.42PayPal fees incurred based on USA exchange only (assuming no International) @ 2.9%$2748.37PayPal fees incurred @ $.30 per transaction x 988$296.40Cost of Goods Sold (This is hard to determine. Based on their type of items, we’ll guesstimate an average of $20 per item)$19,760Shipping cost (guesstimate)$7,000eBay Premium Store (they seem to stay around 500 items listed, so we assume they have a premium store)$49.95Estimated Gross Profit $36,627.24
The numbers we got from Terapeak may not be completely accurate and we are totally guessing on the shipping and cost of goods sold. However, this still gives a good idea of the profit they are making. We did the numbers based on purchasing the items, however since they are consigning, they may be getting the items for free and then getting a commission based on the sale price.
Either way, they are really doing an amazing job!
Also, don’t forget, this information isn’t even a complete month. They did over of $104,000 in sales in January!
Give us your thoughts on this analysis. Have you been following or watching Norb and Marie? Are you also using the consignment strategy? What are your results? We would love to hear your thoughts and comments below.
The Family Pickers overall rating: 5 stars!