Retiring Early

Monday, October 09, 2006

Craig's List Experiment Update

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Ok, I have some great news on the Craigslist experiment that we've been doing. Basically, we have sold about 90% of our furniture from our old house and have been replacing it with new and used (read: antique) furniture. Our goal was to upgrade old stuff and pay a bit more, but not more than 25% above our proceeds for the new stuff.

Well, the results are positive. We sold everything from couches to chairs to tables, to area rugs and even some garden tools (ok, we probably stretched the experiment on that one, but revenue is still revenue.) All told, we netted around $5200 over the last month! That sounds like a LOT of money, but bear in mind that we sold a LOT of stuff, including a pair of expensive leather chairs that netted us nearly $3000 alone. On the purchase side, we have spent around $7010 and have replaced everything we sold, and then some. Overall, we still have a few minor things to sell and I'm sure my wife can come up with more things to buy, but I think we've done well. Relative to our goal of spending no more than 25% more than revenues, we did well. Our actual figure turned out to be 26%, but who's counting that extra 1%.

For those who haven't had good luck on craigslist, all I can say is: keep trying, don't let someone chew you down on price if you are asking a fair price and above all, be persistent. Things do sell, including expensive 3-year old Pottery Barn leather chairs that you believe are worthless. Somewhere, there is someone just like you that wants those Pottery Barn chairs, but just isn't willing to pay Pottery Barn prices to get them. Even a 25% discount off retail price is enough to yield a credible buyer.
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3 Comments:

  • At 10/09/2006 11:24 AM, Anonymous Jane Dough said…

    Good job fin_indie!

    I am very happy with my craigslist purchase and you are right - generally there is a buyer for every seller - it just sometimes takes a bit of time to find that match!

     
  • At 10/11/2006 11:57 AM, Anonymous finance girl said…

    I have used Craig's List for our rental house (in Ballard) and love it; have found fantastic tenants that way! Hubs used it to sell some old PCs and they were snapped up within an hour of him posting the ad - so we are huge fans here!

     
  • At 10/11/2006 3:12 PM, Blogger fin_indie said…

    Nice. I have a ton of stories from people that have bought stuff from us off Craigslist... From the guy who wouldn't buy a table because his wife had to "audit" the color to another guy who walked in, looked at our 6 yr old couch and said "i'll take it" without even sitting in it! I could do a whole post on just the people...

     

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