Jewelry Reselling Essentials: Must-Know Tips for Sourcing, Pricing, and Selling! - Episode #49

[00:00:00] Welcome to the Jewelry Resellers Podcast, your go-to source for all things shiny, sparkly,

[00:00:06] and of course profitable.

[00:00:07] I'm your host Desiree and I'll be your guide on this dazzling journey through the world

[00:00:13] of reselling jewelry.

[00:00:15] We'll be diving deep into the art and science of reselling, uncovering valuable tips, insider

[00:00:21] secrets and sharing stories from successful Jewelry Resellers.

[00:00:26] We'll explore market trends, industry news and even discuss how to find those hidden gems

[00:00:32] just waiting to be discovered in thrift stores, estate sales and beyond.

[00:00:37] So if you're dreaming of turning your hobby into a hustle or if you're a season pro looking

[00:00:43] to stay at the top of your jewelry reselling game, join me each week for insights, stories

[00:00:49] and more on the Jewelry Resellers Podcast.

[00:00:55] Hello, Nisha.

[00:00:57] Welcome to the podcast.

[00:00:59] Hi.

[00:01:00] I am so happy that you decided to spend this time with me and to talk about jewelry and

[00:01:08] reselling.

[00:01:10] So I have a lot of questions I want to ask but before we get into that, I want you

[00:01:16] to introduce yourself and let us know who you are exactly and what it is that you

[00:01:23] do.

[00:01:24] Okay.

[00:01:25] So my name is Nisha and I've been...

[00:01:29] Nisha, okay.

[00:01:30] Yeah.

[00:01:31] I'll make sure I pronounce it correctly.

[00:01:34] I've been selling online since around 2003.

[00:01:40] I started on eBay and I started with some really big items.

[00:01:45] I would buy steamer trunks and all sorts of crazy stuff at your itself.

[00:01:54] Yeah, I've done that too.

[00:01:56] And then I realized, wow, these are really, really big.

[00:02:02] Take up a lot of room.

[00:02:05] And so from there, I started selling smaller things.

[00:02:15] I was selling cameras when I could find them, vintage cameras, Polaroids.

[00:02:22] And I was given the opportunity to sell a vintage jewelry on consignment.

[00:02:30] It was Kodoro.

[00:02:32] Yeah.

[00:02:34] And that really introduced me to jewelry and looking and selling jewelry.

[00:02:40] And I realized, well, it was really my husband, realized this is really small.

[00:02:47] You could fit a lot of this in a small area.

[00:02:52] That's what's behind me.

[00:02:53] And so that was about...

[00:02:56] Probably about 15 years ago.

[00:02:59] Oh, wow.

[00:03:01] Yeah.

[00:03:02] Okay.

[00:03:03] So you got into jewelry.

[00:03:05] The exact same reason why I did was just because of the space, because I didn't have a lot of

[00:03:11] space to store a lot of items.

[00:03:13] And I learned very quickly that jewelry is very easy to store and pretty easy to manage

[00:03:19] as long as you keep it mostly organized.

[00:03:22] Yes.

[00:03:23] Yeah.

[00:03:24] And it's really easy.

[00:03:28] I was listening to one of your interviews, if you keep it in little plastic bags and keep

[00:03:34] it sorted and use some type of inventory system, it makes it easy for you to find things and

[00:03:42] keep track of stuff.

[00:03:44] Right.

[00:03:45] Right.

[00:03:46] So now did you have jewelry knowledge when you first started?

[00:03:49] Were you familiar with the different types of jewelry, maybe the jewelry eras or anything?

[00:03:56] How did you learn about jewelry?

[00:03:59] Well, I mean, I knew a little bit just from buying and wearing jewelry myself.

[00:04:08] And when I started reselling, I was selling or buying a lot of shoes and I didn't know

[00:04:14] any fashion brands or anything like that.

[00:04:19] So I just learned it one thing at a time.

[00:04:24] And today, one of the things that I do is to keep learning is I watch YouTube channels and

[00:04:37] I also read a lot of books.

[00:04:40] Yes.

[00:04:41] Because there's a lot of great information on jewelry and books but it's not online.

[00:04:47] Right.

[00:04:48] Right.

[00:04:49] So I've been slowly building my library of jewelry books because surprisingly, you will

[00:04:56] find them like at yard sales and thrift stores and stuff.

[00:05:01] That's where I've gotten all of mine.

[00:05:02] So far, I haven't paid more than a dollar for any of the jewelry books I have.

[00:05:08] And now I want more but of course, you won't always find them.

[00:05:14] But yeah, it's really interesting because you learn so much more about the history of

[00:05:21] the jewelry from the books or maybe you learn more about the like maybe the life or the

[00:05:27] background of the designer or maybe the particular company that was creating the

[00:05:33] jewelry at a specific time.

[00:05:34] So I totally agree with that.

[00:05:36] I totally agree that books are amazing for learning jewelry.

[00:05:40] Yeah.

[00:05:42] And it seems daunting.

[00:05:46] When I first started, it was overwhelming when you look at all these pieces laid out on the

[00:05:52] table and you're like, you don't really know where to start.

[00:05:55] And I think what I did is I just started with necklaces because I wore them or wear

[00:06:02] them and that really just helped me filter stuff down.

[00:06:11] Jewelry is I find I have to keep a lot of knowledge in my brain when I'm out picking and sourcing.

[00:06:21] And even though I like to use Google Lens, it's a tool.

[00:06:29] It doesn't help me to sometimes find things but a lot of the things that I find are

[00:06:37] from my knowledge.

[00:06:39] Yeah, I agree.

[00:06:41] And sometimes too, you'll start looking like you'll start researching a piece and then

[00:06:47] sometimes it'll take you in a whole different direction, you know?

[00:06:50] And then you start doing a deep dive on something, use something else and then you

[00:06:54] learn that.

[00:06:55] And then next thing you know, an hour or two has gone by and you still may not

[00:06:59] have all the information that you were looking for on the original piece that

[00:07:03] you started with.

[00:07:04] But I kind of like that.

[00:07:06] I don't know.

[00:07:07] It's kind of fun for me.

[00:07:11] Oh, my cat.

[00:07:15] So Nisha's cat is hanging out with us today.

[00:07:18] Yeah, I have a Velcro cat.

[00:07:23] Very sweet, very sweet.

[00:07:24] Yeah.

[00:07:27] But yeah, what you're saying with the research is there's this amazing depth.

[00:07:36] Of knowledge and of things that you can learn with jewelry.

[00:07:42] And that's the other thing is that I love about it is I get to be in a place

[00:07:49] where I get to learn new things every day.

[00:07:52] Right.

[00:07:55] Yeah, I enjoy that part too.

[00:07:57] So let's talk about what a typical day looks like for you as a jewelry reseller.

[00:08:02] Tell me what your process is, I guess, as it relates to being a jewelry reseller.

[00:08:10] Now are you a full-time reseller?

[00:08:18] Not exactly.

[00:08:19] I have a side hustle where I teach.

[00:08:23] I'm an adjunct and I teach visual studio arts classes.

[00:08:29] Oh, OK.

[00:08:30] OK.

[00:08:30] Yeah, I think we all have side hustles, trust,

[00:08:32] because I have many, many things that I'm doing too.

[00:08:37] So I think that's kind of typical nowadays.

[00:08:40] A lot of us don't only resell, but it does take up a good portion of our day.

[00:08:47] So that's why I wanted to know, can you give us like a little sneak peek

[00:08:51] about what your typical day looks like as a jewelry reseller?

[00:08:56] Yeah, so I don't source every day.

[00:09:01] And a lot of my sourcing comes from garage sales and attic sales,

[00:09:07] which obviously are seasonal.

[00:09:10] I'm in New Jersey, and so the season runs late April through late October.

[00:09:20] And we have these phenomenal things in New Jersey.

[00:09:23] We have town-wide garage sales.

[00:09:26] Oh, yes.

[00:09:27] Those are fun.

[00:09:28] They're really great.

[00:09:30] I just, it's just amazing the wonderful things

[00:09:36] that you find at these garage sales.

[00:09:38] And so during garage sale season, Friday, Saturday, and Sunday,

[00:09:45] I'm always out looking for stuff.

[00:09:49] And I kind of hoard things up over the winter.

[00:09:54] That's what I list throughout the winter because I don't buy that many

[00:09:59] things from thrift stores occasionally.

[00:10:03] I'll go to one.

[00:10:05] If there's something good, I'll pick it up.

[00:10:08] I mean, there's always something good to pick up,

[00:10:12] but it's just not part of my process really.

[00:10:19] And with the working at home with my business,

[00:10:27] I sort the jewelry.

[00:10:30] So I'll sort it between fine materials such as silver

[00:10:38] because I generally don't get gold pieces.

[00:10:41] I mainly get costume jewelry.

[00:10:45] So I'll just sort out the fine from the costume.

[00:10:50] Yeah, exactly.

[00:10:51] That's my first step.

[00:10:52] And then from that, I sort out the items based upon type

[00:11:01] because I photograph them slightly different depending

[00:11:05] on the type of item that they are.

[00:11:08] And then I'll batch things.

[00:11:09] So I might photograph 20 necklaces or 30 to 40 brooches

[00:11:17] at a time because those are so fast.

[00:11:20] And so I find that some days I'll do more photographs

[00:11:28] and then other days I'll do more listing.

[00:11:31] Now, do you only sell on eBay or do you

[00:11:34] sell on multiple platforms?

[00:11:37] So I sell on multiple platforms.

[00:11:41] I'm on Poshmark, McCurry.

[00:11:47] I have a little bit on Etsy.

[00:11:51] I'm still learning Etsy even though it seems like a great

[00:11:55] platform for vintage pieces.

[00:11:58] Yeah, yeah.

[00:11:59] I haven't tried Etsy yet.

[00:12:01] I don't know why, I think because I just feel like I don't

[00:12:08] know, I just didn't feel kind of drawn to it.

[00:12:11] And maybe I do need to give it a try because I hear a lot

[00:12:17] of people doing well selling vintage jewelry there.

[00:12:19] And I also have heard from multiple people who sell on Etsy

[00:12:23] that they actually can get more as it relates to the sales

[00:12:29] price, you can make a little bit more for the same piece

[00:12:33] selling it on Etsy versus eBay.

[00:12:35] I don't know how true that is because I've never sold on Etsy.

[00:12:38] But that's what I've heard from more than one person who sells

[00:12:41] on there, that they can make a little bit more money selling

[00:12:46] it on Etsy, I guess because obviously the buyer base

[00:12:49] is very different.

[00:12:51] Yeah, that's what I've heard too.

[00:12:53] And I have very limited experience with selling on Etsy.

[00:12:57] And the pieces I've sold went for either my asking price

[00:13:03] or they asked for a small discount, I mean very nominal

[00:13:07] discount on the item.

[00:13:11] So I don't know why I don't have more stuff on it.

[00:13:16] Well, it takes time like everything else, right?

[00:13:19] Yeah, it does.

[00:13:22] And I do use this cross listing service that

[00:13:29] helps me cross list everything, list perfectly,

[00:13:33] makes it really easy for me.

[00:13:35] Yes, I've had Liz perfectly on the podcast too.

[00:13:39] I've had Leslie who works there.

[00:13:42] Yeah, I did an interview with her probably a month or two ago.

[00:13:47] And yeah, she talked all about Liz perfectly

[00:13:49] and how you can list your items on multiple platforms

[00:13:54] with that tool.

[00:13:56] So that's great that you use it.

[00:13:59] Yeah, it's been really good.

[00:14:02] And I have found they have this other educational platform

[00:14:12] called Listing Party.

[00:14:15] I don't know if you've, OK, yeah.

[00:14:17] So I go on there and they have a mastermind group.

[00:14:20] And that's been really helpful.

[00:14:23] So I highly recommend that.

[00:14:25] It's free if you're on, if you have a subscription

[00:14:30] to List Perfectly.

[00:14:32] And I have a jewelry Zoom group every week where we get together

[00:14:38] and we talk about jewelry and people have questions.

[00:14:42] And sometimes I have questions.

[00:14:44] Yeah, so it's been really great because it's kind of,

[00:14:48] it's like people bring in these fabulous things

[00:14:51] and I'm like, wow, these are just amazing.

[00:14:56] I know.

[00:14:57] I know.

[00:14:57] Sometimes I just get amazed too because people

[00:15:01] have these incredible pieces and you're just like, oh, my goodness.

[00:15:05] Like where did you find that?

[00:15:08] And yeah, I think that's part of the excitement factor for me

[00:15:13] is just seeing something amazing that I've never seen before

[00:15:17] or learning about it.

[00:15:18] Yeah, that's true.

[00:15:20] Yeah.

[00:15:22] OK, so let's talk about, because I

[00:15:26] know you said you source mostly from garage sales, yard sales,

[00:15:33] estate sales.

[00:15:35] Do you do estate sales too?

[00:15:38] No, just yard sales.

[00:15:40] So rummage sales.

[00:15:42] Oh, and rummage sales.

[00:15:43] OK, yeah, we don't really have a lot of those here in Las Vegas.

[00:15:47] OK.

[00:15:47] We do have obviously garage sales and stuff, but not year

[00:15:51] round because it's either way too hot or way too cold.

[00:15:55] But we have a lot of estate sales here in Vegas.

[00:15:59] So I like to go to those too.

[00:16:02] That's cool.

[00:16:03] So I guess you've gotten to know which

[00:16:06] of state sales work best for your business model?

[00:16:11] Yeah, I mean, it's kind of hit or miss too, right?

[00:16:15] Because you can't predict which estate

[00:16:18] sale is actually going to have something, number one,

[00:16:21] that I would want and then number two at a price

[00:16:25] that I think is going to work for my business.

[00:16:28] And then sometimes, because what I've learned too

[00:16:34] is some of these estate sales, they

[00:16:37] will let certain people shop before the actual public.

[00:16:41] And so a lot of times the jewelry gets snatched up

[00:16:45] because I don't have relationships with all

[00:16:48] of these estate sale places.

[00:16:50] So it's kind of hit or miss.

[00:16:52] But when I do find one, usually it's pretty good.

[00:16:55] Usually it's fantastic.

[00:16:58] And I do online auctions as well, local auctions.

[00:17:02] And those have been really good for me too.

[00:17:07] Yeah, I had started doing that last year

[00:17:10] and I was doing Shop Good Will, but that can get really

[00:17:16] expensive sometimes.

[00:17:17] Oh, I know.

[00:17:20] Because I did a podcast episode on that too.

[00:17:22] And a lot of times you don't really

[00:17:26] know what you're getting because the pictures aren't that great.

[00:17:30] I mean, sometimes they are, but I would say most of the time

[00:17:32] they're not.

[00:17:33] So you can't really get an accurate gauge

[00:17:37] of what the condition is or the quality of it or anything.

[00:17:43] So I think if you really know your jewelry pieces,

[00:17:46] you probably could make Shop Good Will work.

[00:17:49] But then again, a lot of the stuff

[00:17:52] seems to be really overpriced or it gets bit up really high.

[00:17:56] It gets bit up really high.

[00:17:58] So every once in a while I'll go on there and look for pieces.

[00:18:06] But right now I have so many pieces.

[00:18:11] It's better just to keep listing.

[00:18:16] I don't know if you've done this.

[00:18:17] I actually started buying things on eBay

[00:18:21] and then flipping them back on eBay.

[00:18:23] Oh, yes.

[00:18:25] Yes, I've done that many times.

[00:18:29] Yes, you can source and sell on eBay.

[00:18:33] I've done that on Poshmark and I've done it on Macquarie too.

[00:18:37] Oh yeah, I could see you could do that on Poshmark

[00:18:39] because the prices are really low.

[00:18:44] On eBay I thought prices were low,

[00:18:46] but I started selling on Poshmark and prices can be low too.

[00:18:52] Yes, sometimes, sometimes depending

[00:18:54] on what it is you're looking for exactly

[00:18:56] and depending on how you like to buy.

[00:18:58] Because some people like to buy both lots

[00:19:00] and some people like to buy piece by piece.

[00:19:03] So it just really depends on what your particular strategy

[00:19:08] or method is.

[00:19:09] But it can work anyway.

[00:19:11] It can work either way.

[00:19:15] Yeah, I find on Posh I sell more with bulk offers.

[00:19:21] People will send me offers.

[00:19:27] And some I accept and some I just decline

[00:19:30] because they're so low.

[00:19:33] Right.

[00:19:34] Yeah.

[00:19:36] I love those that $1 or $2 and I'm like.

[00:19:42] Yeah, sometimes you can find those

[00:19:44] and when I do because I sell on Poshmark with live shows.

[00:19:49] Oh cool.

[00:19:52] That's how I move a lot of inventory quickly.

[00:19:57] Because sometimes, you know, because I've bought a lot

[00:20:00] of bulk jewelry over the years and sometimes you just

[00:20:02] have pieces that are just either unbranded, unmarked,

[00:20:06] or maybe they're just not that great.

[00:20:08] But they're not horrible.

[00:20:09] They're still wearable pieces.

[00:20:10] And sometimes people like those.

[00:20:12] They're not necessarily looking for the high end vintage

[00:20:15] unique rare pieces.

[00:20:17] Some people just want fun, everyday jewelry.

[00:20:20] Some people are just looking for a particular color,

[00:20:23] maybe a particular style.

[00:20:25] And so yeah, with Poshmark I've

[00:20:27] been able to move a lot of inventory just

[00:20:30] with live shows and live selling.

[00:20:34] Have you ever done any live shows?

[00:20:36] You know, I did one silent show on Poshmark.

[00:20:41] But I really didn't know what I was doing.

[00:20:48] So I mean, I like your idea.

[00:20:51] I mean, is it a lot of setup to get that going?

[00:20:55] Are you taking stuff from your store?

[00:20:57] Or are you doing something different?

[00:21:00] Well, these are pieces that I don't even have listed.

[00:21:02] So like I'll have a big bin.

[00:21:06] I can show you.

[00:21:10] So like I have a bin of just jewelry.

[00:21:16] And this is stuff that's not really marked,

[00:21:20] or maybe it's something that I've listed.

[00:21:22] And for whatever reason, it didn't sell.

[00:21:26] So what I do is I just set up a show.

[00:21:30] And then I have jewelry item number one,

[00:21:32] jewelry item number two, and so forth.

[00:21:35] But I don't list individual pieces.

[00:21:37] Like I don't say orange seed bead necklace.

[00:21:41] That'll just be jewelry item number one.

[00:21:43] And then I just run them auction style in a live show.

[00:21:47] And I usually have a low starting bid.

[00:21:49] So that way, if somebody is interested,

[00:21:53] they have a chance to get it at a really good price.

[00:21:55] So.

[00:21:56] Oh, that's really smart because you're

[00:21:59] getting back like your initial investment

[00:22:03] or even making a little bit of money on some of your pieces.

[00:22:08] Because I've been doing craft lots on eBay.

[00:22:12] And those sell, and it's all the stuff that's either broken

[00:22:18] or now I'm making boxes of stuff that's still sellable.

[00:22:22] But I haven't listed those yet as a bulk.

[00:22:27] Yeah.

[00:22:27] A lot of people like the bulk lots too.

[00:22:31] Not just crafters, but sometimes people just want,

[00:22:35] they don't want to buy 10 necklaces individually.

[00:22:38] They'd rather take a chance and see as long as the lot is

[00:22:41] a wearable lot.

[00:22:43] And they'd rather take a chance and say,

[00:22:45] oh, well I might get 20 or 30 necklaces for that same price.

[00:22:49] I may not know what they are.

[00:22:52] But I think that's part of the fun of it

[00:22:55] is kind of the thrill of the surprise.

[00:22:59] Yeah, exactly.

[00:23:01] It's like a present or a gift or something like that.

[00:23:05] Yes, yes.

[00:23:07] So and well, you should give it a try.

[00:23:10] Maybe try a Poshmark live show.

[00:23:12] Or if I don't know if you're on what not,

[00:23:15] what not is a good place to sell jewelry as well.

[00:23:18] Now there are a lot of jewelry sellers on what not.

[00:23:22] And so if you're beginning, it

[00:23:25] might take you a little while to build up

[00:23:27] a following over there.

[00:23:29] But if you like the live selling format,

[00:23:34] it's another good place to check out.

[00:23:36] OK.

[00:23:37] I signed up for what not a long time ago.

[00:23:43] But I just, I was already on a lot of platforms.

[00:23:48] So I kind of backed off.

[00:23:50] Yeah, yeah.

[00:23:51] It can be overwhelming when you're selling everywhere.

[00:23:58] It's a lot to keep track of.

[00:24:00] Absolutely.

[00:24:01] Yeah.

[00:24:02] All right, speaking of that, I want it

[00:24:04] because I'm looking at your storage or your inventory

[00:24:08] behind you.

[00:24:10] Let's talk about how you store, organize, and manage

[00:24:15] your jewelry inventory.

[00:24:16] So why don't you start by telling me

[00:24:18] like about how many pieces do you have right now listed?

[00:24:22] I think I have around 2,000 pieces listed.

[00:24:25] Oh, OK.

[00:24:26] That's good.

[00:24:27] Maybe a little bit more.

[00:24:30] Poshmark has actually been helping me get rid of older

[00:24:34] inventory and kind of get my money back

[00:24:37] and maybe make a little bit.

[00:24:39] So I've been selling a lot on there.

[00:24:42] So that's been really helpful.

[00:24:45] And then what I do is I have a whole bunch

[00:24:49] of these plastic trays.

[00:24:53] And I have one in front of me.

[00:24:57] And they have different inserts, ones of velvet liner.

[00:25:02] Oh, OK.

[00:25:05] And I see you have each piece individually tagged as well.

[00:25:09] Yeah, so that's the SKU system, my new SKU system, which

[00:25:15] I'm transitioning to, which is taking a while.

[00:25:18] But so each box I determine can hold so many items.

[00:25:24] So it has a number on it.

[00:25:27] So this one is 18.

[00:25:30] The box number is J268.

[00:25:33] And then the R means it's a ring insert, which

[00:25:37] is the one I just showed you as a ring insert.

[00:25:40] So what happens is when this item sells,

[00:25:45] I just reuse the tag.

[00:25:48] I don't have to make new tags.

[00:25:50] OK.

[00:25:52] That's smart.

[00:25:54] Yeah, well, it's not my idea.

[00:25:56] It's from the leader of my mastermind group.

[00:25:58] So give Trish Glenn a shout out here.

[00:26:05] But I haven't converted everything over to the system,

[00:26:09] but it's going to save me a lot of time when I do.

[00:26:14] Now on some of the other trays, they're lined with velvet

[00:26:17] and they each get inserted into a clear zip lock bag.

[00:26:25] I sort those by plastic, metal.

[00:26:33] I have another insert where it's just eight trays

[00:26:37] and those are more valuable items get separated

[00:26:40] into the individual trays.

[00:26:42] So there's only eight in this one tray instead of this is,

[00:26:48] what is this, 32?

[00:26:49] No, 36.

[00:26:54] But I know if I put my more valuable pieces in there,

[00:27:01] they're not going to rub next to each other.

[00:27:04] Right.

[00:27:05] Yeah.

[00:27:05] But the plastic bags are great because they really

[00:27:10] keep stuff from wearing.

[00:27:14] Yes.

[00:27:15] That's why I use the bag.

[00:27:17] And plus my thing was is, if God forbid,

[00:27:23] I dropped it or it fell over or somehow got mixed up

[00:27:29] or something, at least I knew that the piece was still

[00:27:34] contained in the plastic bag.

[00:27:36] So it wouldn't, if it fell, it wouldn't spread all over

[00:27:42] the place or get loose in the box that I had it in.

[00:27:49] So that's what worked and still works for me.

[00:27:53] And I like it because I, similar to you,

[00:27:56] once I sold the piece, I would just reuse that baggy.

[00:27:59] I would just take the skew number off and put a new one on

[00:28:02] because I don't like to repeat skews.

[00:28:05] Like once item 200 sold, that's it.

[00:28:08] I just keep going in numbers because I

[00:28:10] don't want to get confused or anything

[00:28:13] because I've had that happen.

[00:28:16] OK.

[00:28:17] So yeah, so I just put it in the plastic bag

[00:28:22] and it works.

[00:28:23] And they're cheap because I would buy just

[00:28:25] the little snack size baggies from Walmart or Sam's Club

[00:28:31] wherever, the big bulk box, bulk size box.

[00:28:35] And yeah, and it worked.

[00:28:37] But some of the pieces don't fit in a plastic,

[00:28:41] in those little bags.

[00:28:42] Like if I had a big statement necklace,

[00:28:44] sometimes those don't fit.

[00:28:45] Right.

[00:28:46] So I could see incorporating your system in addition

[00:28:50] to the bag system, like kind of for those bigger or larger

[00:28:53] pieces or maybe more delicate pieces that you don't want

[00:28:58] in a bin with a bunch of other things.

[00:29:02] You know what I mean?

[00:29:03] Yeah.

[00:29:05] Yeah.

[00:29:05] And it took me a while to figure it out

[00:29:07] because I had all these inserts

[00:29:09] and I had two different heights on the tray.

[00:29:11] Yeah.

[00:29:13] But yeah, and I have a different storage system

[00:29:17] for my really wide bracelets and things

[00:29:21] like you were talking about because they won't fit

[00:29:27] in these trays.

[00:29:29] Right.

[00:29:29] Yeah.

[00:29:31] Yeah.

[00:29:32] So you have to kind of have another system

[00:29:34] for the big oversized pieces.

[00:29:37] Yeah.

[00:29:38] So OK.

[00:29:40] So you use those trays and that's how you manage the bulk

[00:29:44] of your inventory.

[00:29:47] Now do you have any kind of, you know like how when people

[00:29:52] have certain things listed, let's say for six months to a year

[00:29:55] and it hasn't sold, do you have any kind of system

[00:29:59] or method for like taking out maybe some old inventory

[00:30:02] and maybe marking it down or running a sale

[00:30:06] or anything like that?

[00:30:09] I don't.

[00:30:12] My store is on, well it's not that large, but on eBay

[00:30:16] it's like 7,600 pieces because I sell other items.

[00:30:22] And so I found that it's just easier just

[00:30:26] to put my whole store on sale.

[00:30:29] Right.

[00:30:29] So when I price items, I price it with that margin in mine.

[00:30:36] So for example, I usually have a coupon,

[00:30:40] which is different than a sale.

[00:30:42] But I have a coupon that is offered on all my items

[00:30:48] and it's 30% off.

[00:30:50] So I have all my items are marked up 30%.

[00:30:56] OK.

[00:30:57] OK.

[00:30:57] So yeah.

[00:31:00] Do you run promotions too?

[00:31:02] Oh, I'm sorry.

[00:31:03] Oh, promotions?

[00:31:06] The advertising?

[00:31:08] Yeah, I do.

[00:31:09] I do the one.

[00:31:13] I forget the different names, but the one

[00:31:15] where you pay when it sells?

[00:31:17] Right.

[00:31:18] Right.

[00:31:19] I know exactly what you're talking about.

[00:31:22] I think it's just called a sales promotion, isn't it?

[00:31:24] I don't know because I haven't done a promotion in so long.

[00:31:29] I know exactly what you're talking about.

[00:31:31] Yeah, I continually run one.

[00:31:34] I used to do this standard where everything was one price

[00:31:41] and now I do dynamic.

[00:31:44] And I have it set at 7%.

[00:31:51] But not everything is that high.

[00:31:53] Some stuff is lower.

[00:31:54] And you could just do it for 2%, have it set for 2%.

[00:32:01] Yeah, I think it's called dynamic ad rate now that I'm

[00:32:06] remembering.

[00:32:07] I think I'm remembering correctly.

[00:32:10] I might be wrong.

[00:32:11] So if you're listening and I got it wrong, let me know.

[00:32:15] But yeah, that's always been a struggle for a lot of resellers

[00:32:18] about whether or not they want to promote because obviously

[00:32:22] that's going to cut into your profit margin

[00:32:25] and that's going to really require you to price strategically

[00:32:32] so you can still make it profitable for you.

[00:32:35] So that's kind of tricky.

[00:32:41] Yeah, I could say yeah, it is.

[00:32:43] But I think because I get things at a lower margin most

[00:32:49] of the time or lower cost that I have a little bit

[00:32:56] more wiggle room on things.

[00:32:58] Yeah, that's good.

[00:33:01] And I just found that having these combination of things

[00:33:09] really work to bring in sales.

[00:33:12] So having the dynamic ad rate at 7% brings in sales.

[00:33:18] But you could, I would say if you never

[00:33:21] have done that before try 2%.

[00:33:25] And then running coupons at 30% has really helped.

[00:33:33] It's just another, it's like doing a layer cake.

[00:33:37] You add one layer, then add another layer.

[00:33:40] So it keeps creating interest in what you're selling

[00:33:45] and what you're doing.

[00:33:48] And then I also do seller initiated offers.

[00:33:51] So that's, and there's a place on eBay where you can look

[00:33:57] and see where your sales come from.

[00:33:59] And I think over 40% of my sales come from seller

[00:34:04] and initiated offer.

[00:34:05] So I recommend, I think that's under performance in sales.

[00:34:10] Check that out and see where your sales are coming from

[00:34:13] and then you can really focus on those areas.

[00:34:16] So if your sales are coming from coupons or store sales

[00:34:21] or things like that.

[00:34:23] Oh, and the other thing with eBay,

[00:34:25] and it took me years to understand this,

[00:34:29] but eBay is consistency.

[00:34:35] Yes.

[00:34:36] Yeah.

[00:34:38] So if you're listing one thing, list it seven days a week.

[00:34:42] And if you don't want to list on weekends,

[00:34:46] do a schedule listing for Saturday and Sunday.

[00:34:51] They're free now so.

[00:34:55] Yeah.

[00:34:56] That's great.

[00:34:57] And I think consistency is really important because,

[00:35:02] I mean not just eBay, but just everything.

[00:35:04] Everything as it relates to business,

[00:35:06] as it relates to life, as it relates to jewelry.

[00:35:10] So I think that's a really good reminder for people

[00:35:12] to really be consistent, especially if you want

[00:35:15] if you want to make this work and you

[00:35:16] want to make the money consistently,

[00:35:18] then you definitely have to source and list consistently.

[00:35:22] Yeah.

[00:35:25] Yeah, it does make a difference.

[00:35:27] Yeah.

[00:35:28] I totally agree.

[00:35:29] I totally agree.

[00:35:32] All right.

[00:35:33] So what advice or tips would you

[00:35:36] give to someone who is just getting started as a jewelry

[00:35:39] reseller?

[00:35:42] Ah, OK.

[00:35:47] Or things maybe you've learned that you didn't like,

[00:35:49] things that you know now that you

[00:35:50] wish you would have learned or wish you would have known

[00:35:53] when you started.

[00:35:58] Well, I guess one of the big things,

[00:36:01] if you think you have a really valuable piece,

[00:36:05] don't be afraid to go find a jeweler and have them look

[00:36:10] at it.

[00:36:12] And you can always ask other resellers in your area

[00:36:15] for recommendations.

[00:36:17] And don't be afraid to mark your piece up.

[00:36:25] Yeah.

[00:36:26] Yeah, because you'll see prices on some

[00:36:31] of the platforms where the pieces price like at $10.

[00:36:37] But just because it's priced at $10 doesn't mean that you

[00:36:42] can make $10, but maybe I found that if you mark it up

[00:36:47] a little bit more, you can make it a little bit more

[00:36:50] you can make $30 or maybe $40.

[00:36:54] So that's something that took me a really long time

[00:36:59] to understand that it's OK to mark it up more

[00:37:04] and not be concerned about that because you can always

[00:37:07] mark it down.

[00:37:12] And then learn how to sort fine jewelry from costume

[00:37:20] jewelry and then take your time learning how to test

[00:37:25] the fine jewelry that you find.

[00:37:29] Yep, I agree.

[00:37:31] Because it's a learning curve on the fine jewelry

[00:37:36] learning how to test it and working with the scratch test.

[00:37:43] Yeah.

[00:37:44] Yeah.

[00:37:45] And it takes a while for you to really even recognize

[00:37:53] and learn like when you see something.

[00:37:56] Because for me, I kind of knew like gold

[00:38:01] because that's how I kind of got started is I was selling

[00:38:04] my own gold jewelry.

[00:38:05] So I knew what gold look like and what it feels like.

[00:38:10] You know, but sometimes you can't always touch a piece

[00:38:13] you know that you're thinking about.

[00:38:15] But I think that's another thing too is you really

[00:38:18] have to give yourself time to learn how to recognize

[00:38:21] a piece and then decide OK, this is something

[00:38:27] I need to look further into.

[00:38:29] Like you may not know right away if it's 14 karat gold

[00:38:32] or whatever.

[00:38:34] But then you know OK, this kind of looks like gold.

[00:38:36] So I want to take my time with this piece.

[00:38:38] Instead of just assuming it's not gold or assuming

[00:38:42] it is gold.

[00:38:44] You know, give yourself I guess that little leeway

[00:38:49] to spend more time on certain pieces.

[00:38:53] Because that's how you're going to learn.

[00:38:55] Yeah, that's true because I would put pieces to the side

[00:39:01] if I wasn't sure about something and I still do that

[00:39:05] when I get something really unusual.

[00:39:08] And sometimes just the matter of a couple weeks or a month

[00:39:13] and you go back to look at it and then

[00:39:16] you have new skillset to look at the piece again

[00:39:22] with, you know, fresh eyes.

[00:39:26] So that's a great point.

[00:39:27] Yeah.

[00:39:29] Yeah.

[00:39:29] And sometimes it'll be like this has happened to me more

[00:39:32] than once where I get a piece and I know nothing about it.

[00:39:36] So like you, I put it to the side.

[00:39:38] And then coincidentally either the marking will come up

[00:39:44] somewhere or someone will have something similar.

[00:39:47] And I'm like, oh my gosh, I have a piece that looks just like

[00:39:50] that or maybe it's made by the same designer.

[00:39:52] And I didn't know anything about that designer

[00:39:55] or I'll see something that kind of triggers me.

[00:39:58] Oh yes, that's just like what I had.

[00:40:02] And it's funny how that happens.

[00:40:03] It's like, you know how they say when you buy a new car

[00:40:06] you start seeing it everywhere?

[00:40:08] Well, that happens in jewelry too.

[00:40:10] When you have a jewelry piece suddenly you're going to see

[00:40:13] it somewhere.

[00:40:13] Someone will be wearing it when you're at the grocery store

[00:40:16] or someone will be asking about it in a Facebook group

[00:40:19] or you'll see someone find it in a YouTube video.

[00:40:22] It's so crazy because that's happened to me many times.

[00:40:30] That's cool.

[00:40:32] Yeah, yeah.

[00:40:33] So all right.

[00:40:34] So you said take your time as it relates to researching jewelry.

[00:40:40] And what about as it relates to?

[00:40:42] Because I do get questions about this sometimes,

[00:40:44] the packing and the shipping of jewelry.

[00:40:47] Do you ship your like when you sell a piece,

[00:40:49] do you ship it in little boxes or like how do you do that?

[00:40:55] So I have little lightweight boxes

[00:40:59] that are 6 by 4 by 4 inches.

[00:41:04] And most of my jewelry with one single sheet

[00:41:10] of tissue paper, which is just blank tissue paper.

[00:41:15] And the jewelry item will weigh 4 ounces

[00:41:20] and under with the packet slip in there.

[00:41:22] So that's how I ship most things.

[00:41:28] Occasionally I'll ship things in a padded envelope

[00:41:32] but like brooches and some higher end pieces.

[00:41:38] I want those to go in a box because I

[00:41:40] don't want them getting crushed.

[00:41:42] Right, right.

[00:41:44] Yeah, I don't really ship in like the little tiny jewelry boxes.

[00:41:50] I usually just put it in bubble wrap

[00:41:52] unless it's like an expensive higher end

[00:41:55] or very delicate piece.

[00:41:57] But for the most part, I just ship in bubble wrap.

[00:42:00] But I put a lot of bubble wrap so if it did get pushed on,

[00:42:06] it wouldn't necessarily get damaged.

[00:42:10] But because I have learned over the years that that's

[00:42:14] how I keep my costs low because buying those little individual

[00:42:18] jewelry boxes can get very expensive.

[00:42:21] I don't mean like shipping boxes.

[00:42:23] I mean like the little packet.

[00:42:25] Yeah, those are expensive, aren't they?

[00:42:26] Yeah, those are really pricey.

[00:42:29] I mean, I do have some on hand

[00:42:31] that I have either found for cheap or maybe I got a piece

[00:42:37] of jewelry as a gift and so I reuse the box, that kind of thing.

[00:42:40] But to ship all of your jewelry and those little boxes

[00:42:46] is really going it's not really cost effective.

[00:42:50] So I'm like you, I don't use those little boxes all the time.

[00:42:53] But I do use them for very expensive or very delicate

[00:42:58] pieces because like you, I don't

[00:43:00] want any damage happening during shipping.

[00:43:03] And I also want the experience to be nice for the buyer too.

[00:43:07] I want to make sure that they feel like I took pride and time

[00:43:14] and care in packaging their item or items.

[00:43:19] Right, yeah.

[00:43:19] You want them to have a good experience so they'll come back

[00:43:23] because I think about the customer as I want them to be happy

[00:43:32] because that means they're more likely to return to my closet

[00:43:39] or shop or whatever to purchase maybe another item.

[00:43:44] Yeah, yeah.

[00:43:46] Yeah.

[00:43:48] All right, so before we close out,

[00:43:52] I do want to talk about your YouTube channel

[00:43:54] because you mentioned that.

[00:43:56] Now, do you make jewelry videos on your channel?

[00:44:00] Let us know all about it.

[00:44:02] Yeah, so I mainly do haul videos where

[00:44:08] I either show jewelry from garage sales or rummage

[00:44:12] sales that I've been to and we have one a week

[00:44:23] and my husband does all the editing and all that.

[00:44:28] So it's nice.

[00:44:30] That's great, yes.

[00:44:31] I wish I had a free editor.

[00:44:38] Yeah, so it's been a lot of fun.

[00:44:41] It's a different experience having doing YouTube video

[00:44:49] because you're talking to a camera

[00:44:54] but there's no response back.

[00:44:56] And so I really enjoy people who have written in comments.

[00:45:06] And it's been a really cool building a community of people.

[00:45:14] So yeah.

[00:45:17] What's the name of your YouTube channel?

[00:45:20] It's my brand.

[00:45:22] So it's Pix Binisha.

[00:45:26] Oh, OK, just like your Instagram.

[00:45:28] Yes, so if you Google Pix Binisha,

[00:45:33] I will show up in lots of places.

[00:45:36] And I also have a blog where I have some resources

[00:45:45] for jewelry, what things I use for the jewelry,

[00:45:50] and also I'm working on some how-to articles

[00:45:56] for just reselling, things like that.

[00:46:00] All right, that's great.

[00:46:01] So I'll make sure that I link all of your information

[00:46:06] in the show notes as well as the description

[00:46:08] if you're watching this video on YouTube.

[00:46:11] So that way people can follow you

[00:46:13] and check out your videos too.

[00:46:16] Yeah, that would be great.

[00:46:19] All right, so before we wrap up,

[00:46:22] tell me what your future plans are

[00:46:24] as it relates to your reselling business

[00:46:27] or even as it relates to jewelry for you.

[00:46:31] Like do you see yourself doing this long term?

[00:46:35] Do you plan to scale up or scale down your business?

[00:46:38] Like what is the future hold for you?

[00:46:42] Well, I'm planning to scale up.

[00:46:48] I'm working on getting to the point of having more listings

[00:46:57] up and possibly working towards having employees

[00:47:04] and then also continuing working on my brand

[00:47:10] with the blog and the YouTube channel.

[00:47:16] I really want to keep adding to my knowledge of jewelry

[00:47:22] and keep working on finding those great pieces

[00:47:26] that are so fun to find.

[00:47:30] Yes, I think the best part of this business.

[00:47:36] It's so great because it's like I get to enjoy these pieces

[00:47:42] for a while and then they go off and make somebody happy.

[00:47:46] So it's like, yeah, it's a wonderful business to have.

[00:47:55] Awesome.

[00:47:56] Well, we will definitely be following you and your journey.

[00:48:00] I'm excited to see how things turn out for you

[00:48:04] and especially because you want to grow and expand.

[00:48:08] And that's always exciting because I just

[00:48:15] I think that there's so many people who want to do jewelry,

[00:48:18] but for whatever reason they think it can't be done.

[00:48:21] So whenever I meet someone who's doing it

[00:48:24] and who's doing it well, I just

[00:48:26] want to share that with people and hopefully inspire

[00:48:29] and encourage people that you can do this.

[00:48:32] We all start somewhere, but that doesn't necessarily

[00:48:36] mean you can't take it to the next level

[00:48:39] if that's what you want to do.

[00:48:41] Right.

[00:48:42] It's definitely scalable.

[00:48:45] It's all learnable.

[00:48:46] You can learn the information.

[00:48:52] You can self-teach it to yourself or watch videos.

[00:48:56] There's a lot of great information out there,

[00:48:58] including your podcast.

[00:49:01] So I think it's a great business model.

[00:49:08] And even if you just sell jewelry,

[00:49:11] there are so many different types of business models

[00:49:16] within that one category.

[00:49:20] Exactly.

[00:49:21] Exactly.

[00:49:21] And it's massive.

[00:49:22] It's a massive category.

[00:49:28] I don't know how many sales are on eBay just for jewelry,

[00:49:31] but it's huge.

[00:49:33] Yeah, totally is.

[00:49:36] So OK.

[00:49:38] Thank you so much, Nisha.

[00:49:40] I really appreciate you taking the time

[00:49:42] to share with us your jewelry reselling journey

[00:49:47] and all the knowledge.

[00:49:48] So like I said, I will make sure

[00:49:50] I have all of your information linked

[00:49:52] so people can connect with you.

[00:49:54] OK, great.

[00:49:56] Yeah, anything else you want to add?

[00:49:59] No, I just had such a great time hanging out with you today,

[00:50:03] Desiree.

[00:50:05] Aw, thank you so much.

[00:50:06] Well, I appreciate you being here.

[00:50:07] Thank you.

[00:50:10] Sure.