Reselling on Etsy for good profits; Part 2

In my last post, I talked about how one earring business on Etsy and Ebay was doing very well reselling earrings they didn’t make, giving the illusion they are in fact the craftsmen for these earrings. There is not a better time to resell on Etsy than right now. There are 1000s of products that are already handmade in poor countries, and you can claim them for yourself. From my research about Etsy, it appears that they are the only ones in the world that do not know all of these earrings are in fact made in Bali. There are copies of these kinds of earrings being made in China and India, but you will have to check that on your own. Go to Alibaba.com.

As promised, I will shows you stores on Etsy that claim to be making these earrings, and I will give you all the sources where you can order them to resell, so you too can go into business. A little information about earrings is needed before we go on. I would like to educate you about the styles, and what is actually going on in Bali with the earrings. The three styles that you will see the most of on Etsy are (1) Gauged Earrings (2) Fake Guages and (3) Stick earrings. Gauged earrings need a hole in the persons ear in order to fit through. This can come in all sizes. 2mm to 25mm or larger. Fake gauges are the same earrings that have been cut, and a pin installed, such that the wearer appears to have a hole in their ear, but does not. Stick earrings, your ear fits into a groove, then a pin goes through the earrings holding it to your ear. The way companies bypassed the rule they had to make it was saying they took the gauged earrings, cut them, installed pins so that they could be worn by the normal ears. However, earrings can be ordered already cut. Companies saying they made stick earrings also are just buying them from wholesale shops and websites and posting as their own creations. Some sites carry many different styles saying it is their work. The fact is, in Bali, people making earrings are very specialized. There is a pecking order and certain people only make certain things that they are good at. And most of the workers in fact move around, and are independent. They often work for more than one shop. So, it is unlikely, even ridiculous, that one shop could say they made all the earrings. My advise to you “specialize in one thing, and have a lot of it”. Fake gauges would be the most logical.

Remember in our last post we showed you a company that was selling $200,000 a year or more? Now lets put than into a financial perspective. Many of the designs only cost $1 US and are being sold for $15! Some items on Etsy that only cost $7 are being sold for up to $90! Don’t quit your day job yet, but I will be showing you actual examples of this kind of deception. You are probably wondering, with things so tight in the USA, how can people spend so much money on something that was handmade in Bali and bought so cheap. Well than brings me to your second lesson! 2. Perceived value. Etsy is in fact full of customers that want to believe the illusion that “you made it”. So much that they are willing to tune out any possibility that they are being scammed! If you notice, you hear very little about these kinds of situations, simply because they want to keep their customers in that state of mind. “One hand washes the other, so to speak”. Its unfortunate for real artist who can’t work for $3 a day, but it works for us, because “we want the money” and are  going into business to make good profits. Right? Now its time to look at a spreadsheet of what you can buy these earrings for!

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LOOK AT THAT! Nothing over $2. Finally, the real prices of earrings! You also get a real picture of what an earring artist might look like and you see his stock is an assembly line. He is NOT in the USA or Thailand. Now treat yourself to a surprise and go to Etsy.com and do a search for tribal earrings and see what you find. Many of the same earrings are all over Etsy being presented as handmade items by the sellers. That brings us to lesson #3. “YOU CAN BE THERE TOO MAKING MONEY TOO!” The lesson here is you actually “lose money making anything to sell on Etsy”, but you are going to be heavily rewarded for being able to create the illusion that you are a struggling artist. (The top sellers on Etsy are in fact suppliers of products to make things, not artists)  I learned that lesson years ago. A 55 year old art teacher that was doing art shows and teaching gave me the following advise. “Don’t be an artist!” You can be an art hobbyist, but do not be and artist. There is some sense in that. Institutions of education are in fact businesses that want to sell you their program. All in one night I changed my college major to business!

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