Step Twenty Seven to a Fortune:
Extracting More Gold from Tapes
We made a profit on the last tape we listed. We have other tapes to make more money.
If insanity is doing the same thing and expecting a different result, it stands to reason that the sane thing to do would be sell another tape.
Step 27 from the overview calls for an investment of up to $9.84 looking for $9.84 or more. We probably can't get a sale for nearly ten dollars, but we might be able to make the 99 cents in profit. If I do two more tape auctions and combine them into a single step, I should get close enough to make another step.
From $203.03 in actual capital reserves , I will invest up to $9.84 expanding my investment to $10.83 or more. I aim for a profit of $0.99 or more.
If I group two auctions into a single step, I can control the size of my investments and still advance my objectives
I listed two more tapes on ebay as Disney Christmas Carol tapes 1 & 2.
I sold one tape for $1.25 and another for $1.29
When the smoke cleared, the fees were paid, and a little money was made on shipping and handling on two auctions, I was left with $3.53.
Ending gross capital (before deductions) $206.56
Does lower shipping cost increase sale price? The sale price did increase but not enough to make up the difference on the profit I made for the shipping on the previous step.
What did I learn from this deal? I learned that reducing shipping cost is beneficial, but a handling fee may increase my bottom line.
I also learned I can control larger investments by grouping smaller investments. It's like a cookie shop selling a bag of cookies rather than one cookie at a time.
I started with $203.03 in reserve funds. The overview schedule called for a risk of as much as $9.84 chasing $10.83. After the sale before tax and charitable deductions I had $206.56
35% tax of $3.53 = $1.24 leaves $205.29
10% for contribution from $3.53 decreases sum by $.36 leaving $204.93 net
I now have working capital of $204.93. I also have the experience, confidence and expectation to handle many future deals at this and slightly increasing levels with full expectation of success!