I wanted to film the process of pricing. So I made you a nice, lovely video, but my phone did not record the sound. So my voiceover, So go to your Amazon account, your Amazon seller, Right? Once you’re at your Amazon seller, Click this little button right here, the camera
Scan it
Sometimes with the scanner, you have to scan the picture And usually look for the one that has the best sales, right? The lowest ranking and the most reviews. So this book right here use, I make $3 and 90 cents, Amazon selling at $10 and 89 cents. So any which way you look at it, there’s a decent little profit margin. About $3 anywhere you cut it. Well, $4 usually round down. So then once you do that, you push the button that says list right down in the corner. I’m sorry.
You select a condition.
You go down and you type the price. Oh, well that’s crazy. You got sound for the buttons were not my voice sound. That’s crazy. So with this one, like, okay, so you see the sales rank. It’s not a good sales rank. So you clicked the picture and you scroll down, look at the much better sales frame of 23,000, right? It’s the same exact book. Just someone took a better picture. Well, they’re not the hard cover. You got to go for the hard cover right here. But look at that. It’s still a decent little profit. Amazon does not have any, that’s what, that’s what we’re looking at right here. Well, they have one for 1390. We’re still $5 profit. But since there’s only one person that has them, you can kind of pick what price you want and minor new. So the 1547 Always come back after you put the price up there and change the price later. Like I showed you under the management,
But always, you know, just
As a reference, kind of go higher at first. Cause you never know who will buy it at a higher price.
And I also do is I try to give you like different textbooks and things. So this one there’s three brand new ones. And for 1989, which makes $9 and 31 cents, which is a decent, decent profit
Yeah, what I did right there is so that mine would go faster. The other profit was 1989. So if you just drop it, you can drop it just to penny and you’ll become the top Lister, like the low, low, excuse me, low price leader. But sometimes I’m just lazy are like 9 cents, 7 cents. I’m not really worried about it. So I usually just you’ve raised the last little digit and then call it a day. Just seems to work that way as it’s faster.
Yeah,
No. Also look at the fees now this one, look, there’s no right here. There’s no one selling it, but use you lose new, you sell or you gain profit. Cause you have to look at this, the fab fees, right? So obviously when you’re putting a book, you’re not going to put the book to lose money and there’s none of them at Amazon. So that right there, you can kind of price it however you want. And just kind of gauge the market.
These Are actually, I like when, when Amazon doesn’t have it
Oh yeah. What I was talking about and this is some of the prices, right? So sometimes the prices are higher. Sometimes the prices are lower, but really just kind of scan for it. Right. And you got to be kind of tricky. You see, it took me three, four times to find that one particular book, but then once you find it, then like, look, there’s 1155. Amazon doesn’t have any. So obviously you can go for the 1155 now on the spark charts, it says like $4. So you really, you, you get the price, it like use supply and demand. If there’s a decent demand and there’s zero supply, then you can raise your price. Right. It’s just kind of it’s basic supply and demand, basic economics.
All right. Yeah. Well, on here, uh, showed you a couple of examples of inventory books. So remember you put click the little, little camera right here, scan the barcode. If the barcode doesn’t work, then turn it over and scan the actual book. Um, the market is kind of fierce at some times, so, but always kind of go a little higher than lower. Uh, always check the new and the used check. How many Facebook people or excuse me, how many Amazon sellers are out there, how many people are like, what’s your competition? Always try to beat the competition. But when Amazon is the only person that’s selling it right then go right below Amazon right now, if there are no people on Amazon selling it like FBAs, then look at the next best price. And you can like kind of gauge it. If you have more than one copy, kind of like if you, if you have a few copies of something, then you can, you can price it at different prices to kind of find the best price.
Right. Cause you don’t really know, like give an example, one book, uh, uh, I’m on this little computer city. Won’t I can’t show you the actual example, but one example was this. I had, I had some books, they were some, some textbooks I originally sold had it on for like 46 bucks. Right. And it sold. But then I looked and I was the only person on like Amazon selling them. And then that’s lowest price. What? Well, there was a price of like 150 that from a seller that wasn’t was selling with Amazon. So I raised my price up to 140 and I sold six of them. Right. So just by looking and like, yeah, I would’ve sold all six of them for like 40 bucks, but that’s $600 I would have left on the table. Right. So make sure you do your pricing correctly and kind of jiggle over that, you know, play around with it. The better you get your pricing the better. And remember you can always go back and change it. So it’s not set in stone. The price is always is changeable. All right. Okay.