Posted by William Charles on January 5, 2019
Recaps

Published on January 5th, 2019 | by William Charles

5

Recap: Amazon Reselling, Southwest Founder & More

 

  • How to Lose Tens of Thousands of Dollars on Amazon by The Atlantic. This just makes me so sad, especially because those in the reselling community are usually so willing to help each other if you’re willing to learn. Making mass orders and paying massive course fees is the complete wrong way to go when it comes to getting into reselling. The person selling this course is making bank though, 1,000 customers at $3,999 a pop is $4 million. They are probably also earning a kick back on that contact in China as well.

Deals expiring at the end of today or starting today (view the full deal calendar here):

Deals expiring at end of tomorrow:



5
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Dylan
Dylan

This is why I have always been extremely sceptical of any sort of paid online course no matter how credible it may seem. There are so many stories of people getting scammed out of their money and nothing to show.

Remember, if you want to make a lot of money, you have to have a skill/be in a situation a lot of people CANNOT take advantage of. A good example would be this. Any joe schmoe from anywhere in the world can buy and sell chinese goods on amazon, and you will be unlikely to make a profit due to high competition and a low barrier to entry.

I run a business selling computers I find at recycling centers around where I live. Since very few people have access to these recycling centers, I make money.

Frank

It’s the classic booming market greed. There are millions of sellers on amazon, they can’t all be making thousands of dollars a month and if you think a 3 month course is going to let you do it while only working 2 hours a day then you are delusional. Obviously there are going to be “success stories” — out of 1000 people some will get lucky and have their business take off, doesn’t mean selling on amazon is an amazing idea.

MickeyMouse
MickeyMouse

I tried reselling on Amazon and was banned. I bought popular items on Black Friday and Cyber Monday, created a seller account and posted them. Since I was a new seller I needed to post them lower than anyone else to be able to attract attention. Other sellers didn’t like that so they complained to Amazon. Amazon suspended my account for selling counterfeit merchandise, despite my offering to provide receipts and any proof of legitimacy. They said unless I had Wholesale Orders and Invoices I’m permanently banned from selling on Amazon for “Counterfeiting”.

I had about 50-60 items I wanted to sell just to make a few hundred or up to a thousand dollars in profit around the holidays. Obviously these were very popular items and they would’ve sold right away, but other sellers didn’t want that and had to complaint rather than accept a little healthy competition. They must have gotten a better price than I did considering they buy wholesale and I bought 3rd hand.

All that to say, selling on Amazon is no good.

Jason Smith
Jason Smith

That is why I sell exclusively on ebay…no one claims counterfeit merchandise there. Granted, ebay is not perfect…but it is worlds ahead of scamazon.

Alex
Alex

That’s the catch with Amazon. For generic Chinese products you face ton of competition.

For name brand you better be an authorized dealer or face complaints about authenticity or the lack of warranty (which technically precludes you from listing items as “new”) Also you need to be approved to sell many popular brands which again requires you to be an authorized dealer.

Back to Top ↑