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Tickle Me Elmo! October 30, 2006

Posted by eburgess in The Challenge.
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I found out that ToysRUs was taking pre-orders for the PS3 and the Wii on Sunday 10/29. I had been told that they had 6 PS3’s and 15 Wii’s. I knew I didn’t have a shot at a PS3, but I figured I might be able to snag a Wii, so I decided to take a chance. I got up early and got to the store at 5:45 am, and ended up 15th in line. While in line, I learned that ToysRUs also had over 100 Tickle Me Elmo’s going on sale and the line was also for that.

Well, long story short, they only had 13 Wii’s, and being 15th in line, well, you get the picture. But I ended up getting 2 Tickle Me Elmos, one of which I bought with my contest money. When I got home that afternoon, I put one up on eBay, and 24 hours later, I was 40.27 richer!

Guess who’s in the lead now!!

Lesson Learned October 25, 2006

Posted by eburgess in The Challenge.
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You can get some really good deals on woot! In fact, sometimes you can get such a great deal that you can turn around and sell the item on eBay for a profit. However, sometimes there’s a flaw in this premise – if you think you can resell the item on eBay for a profit, so do a lot of other people!

A few weeks ago I bought a wireless-g router on woot! for 39.99. After some checking, I noticed that the same routers were selling consistently on eBay for $50+. So, I decided to buy a 2nd one using my contest proceeds in hopes to turn a quick profit and add to my pot. After I got the routers about a week later I jumped on eBay, did a quick check and found that there were a LOT more of the routers for sale than the last time I checked – and now they were selling for around $45 or less! Oops!

At that point, I decided to give it a week or so and see if the supply would die down. After about 3 weeks, when things hadn’t lightened up, I decided it was time to just put it up for sale and take what I could get. Well, I actually ended up making a tidy little profit – and I do mean a LITTLE profit – of $2.89 (after deducting shipping, fees, etc.).

I’m not saying that you can’t buy something on woot! and make a nice profit. However, you just need to keep in mind that chances are there will be a LOT of other people thinking the same thing.

Third Time’s a Charm September 27, 2006

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I guess there is actually some truth to the saying third time’s a charm. Remember that Jeff Gordon track scanner I tried to sell on eBay twice and failed? Well, I walked past it sitting on the floor one too many times and decided to try to list it again. It sold! And, the funny thing is, it sold for more than my buy-it-now price. Woo-hoo! If I add the proceeds from this sale with the $30 I already had, I am well over $50, which means I finally have my initial $50 in the bank!

Sorry Pat, but we are now tied!

(CORRECTION: Pat and I are in fact tied.  However, we are not tied for first as I originally thought – we are tied for last! Apparently Vance finally finished raising his initial $50 as well.  But, unlike Pat and myself, he invested some of his initial money by buying some rockets and sold them for a profit.  So, that means he now has over $60.  Congratulations Vance on your current first place status!  Enjoy it while you can.)

SOLD! September 21, 2006

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Both of my latest eBay auctions have sold!

So, here’s an update on my grand total (determined by the items I’ve auctioned minus eBay fees and shipping costs):

Remote Control = $10.00
iPod Adapter/Charger = $6.75
SkyRest Travel Pillow = $16.60

Grand Total =  $33.35!

Ok, so I’m not rich yet, but it is a start! Watch out Pat, you won’t be in first place much longer!

I’m Back – Finally! September 17, 2006

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After my month plus hiatus, I am finally back! I finally had time to post a couple of items for sale on ebay today and I hope that these will sell – unlike the good-for-nothing Jeff Gordon track scanner. (I’m not bitter, really!) If they do sell, that should give me more than enough for my $50 in starting cash.

Take a look at my “for sale” page for links to the items.

So, keep your fingers crossed – not that keeping your fingers crossed really does anything, but at least it keeps you busy until you find something else to do.

Already Frustrated! August 4, 2006

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The contest is just getting started and I’m already frustrated!

About a month ago I bought a couple of track scanners (to use at NASCAR events for the uninformed among you) on woot! I usually go to the Kansas Speedway race with my father-in-law every year and we normally either rent or borrow track scanners. When I saw these on woot!, I couldn’t pass them up, since they were only $39.99 with a normal retail of over $100. Once we got them, however, we just weren’t overly happy with them. Not that they are horrible, we were just expecting a little more.

Jeff Gordon ProScan 100 Track Scanner

So, they were just sitting around the house until I could decide what I wanted to do with them. Well, then this contest comes around, and I thought, “Hey, I can sell one of those track scanners and use the money for the contest!” Great idea, huh? Well, not so much. I put one up on eBay and got a few lookers but no bids. So, I re-listed it, lowered the price, and again, nothing!

Time to dig around the house some more and see if I can find some other forgotten treasure to sell.

The Challenge August 3, 2006

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Two of my friends (Pat and Vance) cornered me a couple of weeks ago to tell me about this contest they were starting and wanted to know if I wanted in. Of course I said yes! Then, I asked what the contest was.

It’s actually pretty simple:

  1. Start with $50 worth of stuff around the house.
  2. Sell it.
  3. Use the $50 to make more money using any legal/moral/ethical way possible.
  4. Continue by using the proceeds towards making more money.
  5. The first one to $100,000 wins.

Like I said, pretty simple.

About a week later, after finally deciding on some of the basic ground rules, we officially started to contest.

The next day, a Saturday, I spent some time looking around the house for something to sell, that I thought would sell quickly. I decided to sell a remote control for my Sony Vaio computer that I was no longer using. Here’s a nice picture:

Sony Vaio Remote Control

I threw it up on ebay and it actually sold in a couple of days! Suh-weet! I was $10 richer, and on my way.