Join us for Episode 65 of Pocket Change where our hosts dive into their favorite segment, Pick or Pass. They discuss their different sourcing strategies and store plans, including one aiming for a 'Walmart' approach with 5,000 items and another targeting high turnover with 620 items. They walk through live examples of evaluating auction items online, including a detailed look at a 1969 Michael Garman cowboy sculpture and Ray-Ban sunglasses, discussing the importance of sell-through rates and pricing strategies. They also share personal stories and drive home the importance of yard sales for sourcing valuable items in reselling. Whether you're a volume seller or focused on high turnover, you'll find valuable insights in this episode!
00:00 Introduction and Episode Overview
00:26 Sourcing Strategies and Store Plans
00:55 Discussing Retail Competitors
01:56 Picker Pass: Concept and Execution
03:20 Live Bidding on Goodwill
03:54 Evaluating the Cowboy Sculpture
10:14 Ben's Baseball Mugs
13:26 Comparing Sourcing Approaches
16:09 Evaluating Christmas Ornaments for Resale
18:32 Ray-Ban Sunglasses: A Reseller's Goldmine
24:02 The Importance of Yard Sales
28:06 Strategies for Successful Reselling
30:18 Bidding Tips and Final Thoughts
