I’ve talked about the benefits of unadvertised library book sales many times before. Since there is a less likelihood of other sellers present, you have a much better chance of getting all of the valuable books for yourself. There’s also another element as well. Most library book sales are a yearly event. So, if you find a good one, you can return the next year for hopefully similar results. Now you have a reoccurring revenue stream year after year.
For example, in the summer of 2013, I found a really good unpublicized sale. My current profit is $1117 from that single book sale. In 2014, I returned to that exact same sale looking for similar results. As I had hoped, I was the only one there with a scanner.
Books were sorted, listed, and shipped to Amazon in 90 minutes using ScanLister with the Amazon Label Service.
Here are the purchase results:
Books Purchased: 257
Cost of Books: $219
UPS Inbound Shipping: $81.53
FBA Label Service: $51.60
Total Costs: $352.13
Here are the sales results: (after 75 days of being live on Amazon)
Books Sold: 151
Percentage of Books Sold: 59%
Total Revenue (after all Amazon fees): $1130.02
Total Profit: $777.89
In conclusion, this sale was not only profitable the first time around but the second time as well. In a 15 month time period, I was able to make a reoccurring revenue stream of $126.33 per month. You can find unadvertised book sales on www.booksalesfound.com or simply by calling your local libraries and asking them the date of their next sale.
Here’s a scanner setup that I’ve been using lately. It’s just as fast as a PDA, yet it has all the advantages of current technology. This video shows a demonstration of an Android Phone with the Socket 8Ci scanner. I’m using Asellertool’s FBAScan as the software.
Here are some benefits to using FBAScan:
1) Fast Scanning - This does not require a 3G or 4G internet connection while scouting for products. All of Amazon’s information is stored in the memory card of the phone.
2) Fast Downloads – I’ve been able to download all of Amazon’s data into the phone in less than 20 minutes. This includes media and non-media items.
3) Scans Media and non-Media Items – The FBAScan software scans all categories such as books, DVDs, toys, electronics, etc. I’ve personally only scanned media items, so I can’t vouch for the accuracy of the non-media items.
4) Shows FBA Prices - FBAScan will show the Amazon FBA prices as well. However, keep in mind, Amazon changed their API formula a couple years ago. As a result, Amazon will only show FBA prices that are considered competitive. Therefore, if an FBA listing is several pages deep, it may not show up on the scanner. All 3rd party companies must follow this rule including Neatoscan, Asellertool, ScanPower, Profit Bandit, etc.
Here are some benefits to using the Socket 8Ci Scanner:
1) Class One Laser – This has an extremely powerful beam which can scan barcodes from one foot away.
2) Quiet – This can be used discreetly at thrift stores because it does not make a noise. However, it does come out of the package making a beeping and a rumbling noise. I had to call customer service to find out how to turn it off. Here are the barcodes where you can turn off the noise and rumbling sound.
3) Thin – It is super thin so it fits nicely on the back of a phone.
4) Easy Attachment – Sold separately is a Klip Case from Socket. You can adhere is to the back of your phone, so there is no need to use Velcro.
5) Compatibility - Works on any Android or Apple device.
Where to Buy
I was able to get a new Socket 8Ci scanner on an eBay auction for $120. Obviously, your results will vary. It looks like they are selling on Amazon right now for $195. Here’s the link for the Klip Case as well.
If you’re interested in the FBAScan software, you can get that for $40 a month on Asellertool’s website. Use the coupon code “future2″ for a $20 discount on your first month.
Here are the results from last month’s Inventory Lab Contest. There were 174 comments made before the deadline. Thank you for all the great comments – I read them all. The winning numbers were: 45, 115, and 132.
As a result, the winners are:
1st Place: Caroline K.
2nd Place: Carl C.
3rd Place: Carol G.
Congratulations! Caroline K. won a free 6-month subscription to Inventory Lab. Carl and Carol G. both won a 3-month subscription. All three winners have been notified. By the way, very weird coincidence that all three winners have a similar name.