Invest in a profitable and established eBay store

[GT3000]

About BitThrift
Bit-Thrift is the culmination of 2 years of internet reselling focused on creating the best possible return looking for quality vintage merchandise, providing my customers with the best possible customer service experience, and learning the intricacies of reselling products online avoiding the high costs of shipping and extortionate fees that you can only learn by getting stuck in it. I have been unable to accumulate the volume I'm looking for because of the required capital but I believe that now is the perfect opportunity to expand my business with investment from this subforum.
You can view my eBay profile here: http://www.ebay.com/usr/delgada0889

What we hope to achieve
My goal is to expand the business with investors and provide them with a physical real world investment based around reselling products on popular marketplace sites. I have spent the last 2 years learning the ins and out of internet reselling on marketplaces like eBay, Etsy, and locally via Craigslist. We've been able to source merchandise in an effective, and efficient manner, have focused with good success on several types of merchandise such as retro videogames, vintage office equipment, high end cutlery, and glassware which are typically ignored items in thrift shopping. There's a huge marketplace for vintage items as people grow older, have nostalgia for items from their childhood, and realize that products from yesteryear have a unique style and robustness not found now.

Dividends & Shares
My focus is on protecting shareholder value. Biggest part of the profits will go to the shareholders, while remaining profits will be invested into sourcing new merchandise, covering the multitude of fees associated with reselling, and ensuring that remains profitable. I place a lot of effort into protecting the value of our shares and will only dilute share value under strict vote of the shareholders. Shareholders will determine how many shares will be issued and when. Not before.

This is how shares will be distributed:
Total Shares: 25,000
25,000 Shares at 0.001 BTC

Dividends: Paid bi-weekly.
70% to shareholders
20% for management
10% reselling fees

BTC Address:1H8xrQFKWdjJsrH7vgtri4w6RRpk3q7hDE

First Dividend: October 31st
Dividend Amount: (Tentative on price from USD to BTC) 0.209205024 BTC

Shareholder Spreadsheet:https://docs.google.com/spreadsheets/d/1x2-SpbRnhMnU4skeSZeJKVS-KDnEGg2mlpcJP8wYVtI/


I'll be happy to answer any and all questions. I am more than happy to provide proof of ID and a track record of my sales.

[1715603791]

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[1715603791]

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[Patek]

Sounds good, I might be interested BUT you are a reseller with 11 items listed for total of what, $100?

[gogxmagog]

yeah, I dont really understand where you are going with this either. Dont get me wrong, most of what I buy online is vintage stuff (clothing and books) and I have messed around with ebay to very little success. Most clothing I get from either etsy or private retailers like rustyzipper.com, ebay isnt that great really. books i get from abebooks usually, or i go to a vendor aggregator like alibris for rare stuff.

I would first gather more stuff to sell. Then I would divide my stuff up - old video games and tech stuff like the projector I would for sure leave on ebay, the briq-a-brak and decorative stuff I would get onto etsy (keep in mind, etsy has an aesthetic standard and your collection should look like you put some effort there, not a church jumble sale.)

Anyway, it is interesting to see the first public attempt to sell vintage for BTC, as I have looked at the notion of selling collectibles for btc, but unfortunately, for the majority of the btc hodlers, vintage means sofubi from the 1990s and maybe old commodore 64 game cartridges.

EDIT- actually, now that I think about it, you have inspired me to get off my butt and photograph the thousands of dollars worth of 50s-60s vintage clothing and accessories I have laying around and put them up on etsy. Etsy allows vendors to accept btc. you just mention it in your item description and the buyer sends you a pm to set the deal up.

[GT3000]

Sounds good, I might be interested BUT you are a reseller with 11 items listed for total of what, $100?

That's just my current stock. I made about 200 dollars in the last two weeks. This isn't my primary method of income at the moment, for one I don't have sufficient capital to make the necessary purchases for selling on a mass scale, this is where you guys come in. I've sold in spurts over the years as money has come in and I've had time. I want to make this my full-time job and I need you guys to help me do that.

yeah, I dont really understand where you are going with this either. Dont get me wrong, most of what I buy online is vintage stuff (clothing and books) and I have messed around with ebay to very little success. Most clothing I get from either etsy or private retailers like rustyzipper.com, ebay isnt that great really. books i get from abebooks usually, or i go to a vendor aggregator like alibris for rare stuff.

I would first gather more stuff to sell. Then I would divide my stuff up - old video games and tech stuff like the projector I would for sure leave on ebay, the briq-a-brak and decorative stuff I would get onto etsy (keep in mind, etsy has an aesthetic standard and your collection should look like you put some effort there, not a church jumble sale.)

Anyway, it is interesting to see the first public attempt to sell vintage for BTC, as I have looked at the notion of selling collectibles for btc, but unfortunately, for the majority of the btc hodlers, vintage means sofubi from the 1990s and maybe old commodore 64 game cartridges.

EDIT- actually, now that I think about it, you have inspired me to get off my butt and photograph the thousands of dollars worth of 50s-60s vintage clothing and accessories I have laying around and put them up on etsy. Etsy allows vendors to accept btc. you just mention it in your item description and the buyer sends you a pm to set the deal up.

Good luck! I'm glad I could inspire you!

If anyone has any other questions, I'll be happy to help.

Here's been my profit record over the last 12 months, I've spent about 850 dollars between cost of acquiring merchandise and shipping.
http://puu.sh/c2jmE/6c87fd39cb.png

[GT3000]

Just sold some personal wargaming terrain I had for 100 USD to a private party. I'll watch the price of BTC over the next two weeks to maximum the amount of BTC but the first dividend will be arriving on October 31st. At the time of writing that amounts to 0.29886432 BTC using Circle.

Assuming the price remains stable that leads to a dividend of 0.209205024 BTC.

[GT3000]

Shareholder record added to original post.

[ranlo]

Tagging the thread to follow it. It's a great idea in concept but based on your past you're talking about $1.2k over a year. At the current math (if you followed the same path):

25 BTC total shares
70% profit being shared

This means 35.714 BTC would need to be brought in profit-wise to give a 100% ROI.
Calculator shows this to be $12,730 USD in profit

Basically, you'd have to do your entire turnover of the past 12 months (at the same 50%+ profit margin) more than once per month in order to ROI in a year. And that assumes BTC stays the same price it is now. If it goes up, BTC proceeds will be even lower over time. With that said, if I got involved with this I would do so by taking fiat and converting it to BTC *now*, such that the price of BTC would no longer be a concern since it'd basically be a fiat->fiat investment.

I'll think about it, but it's rough with the math that's been shown. And there's risk involved as well.

[GT3000]

My biggest issue at the moment is purchasing power. I know what to buy, I can make reasonable profit off what I want to buy. The problem I keep bumping into is the ability to purchase it. I've been organizing my stock so there's going to be a big push of things to sell this weekend. I appreciate your comment and I hope you see over the next couple weeks that this could be a profitable endeavor. I do recommend that you push fiat into BTC now but you're absolutely correct that the math skews negatively if BTC rises. Take it with a grain of salt. Thanks for your comment and interest.

[Patek]

Do you plan on making product description more "vivid" than one liners? How do you plan on paying first dividend with no items listed?

[Zoznoz]

This sounds like a good project, however are you planning to list this on any of the exchanges available or will these shares be non-exchange traded? Thanks.

[GT3000]

Do you plan on making product description more "vivid" than one liners? How do you plan on paying first dividend with no items listed?

I'll look into making my descriptions are little more detailed. I'm listing 25+ items tonight. I've spent the better part of the weekend organizing my current inventory of stuff. I typically try to list items on Sundays for maximum exposure. I'll update the post when I'm done listing items.

This sounds like a good project, however are you planning to list this on any of the exchanges available or will these shares be non-exchange traded? Thanks.

If there's a demand I may list it on an exchange, do you recommend any? As I understand it many of the exchanges are seen in pretty poor light. As of the moment they are non-exchange but I will facilitate trades between people.

[GT3000]

Items posted.

[Zoznoz]

This sounds like a good project, however are you planning to list this on any of the exchanges available or will these shares be non-exchange traded? Thanks.

If there's a demand I may list it on an exchange, do you recommend any? As I understand it many of the exchanges are seen in pretty poor light. As of the moment they are non-exchange but I will facilitate trades between people.

At this time, I won't recommend any exchange, each of them has their advantages and disadvantages and I understand why you would be hesitant. However, I believe if you present your project and business plan comprehensively and transparently in your listing and it would be a very good idea to create a website, then it will be easier to raise the capital that you need. Although, you point out that there are problems with the various asset exchanges, I just believe that people would be more likely to purchase shares there because they can trade them in a secondary market where you can view the orderbook, price history and other important data.

[ranlo]

I've been putting a lot of thought into this... there's just sooooooooo many scams in the crypto world. Even legitimate businesses are having their owners take off with investor funds. So the question is... how do we know you won't run?

[Patek]

I've been putting a lot of thought into this... there's just sooooooooo many scams in the crypto world. Even legitimate businesses are having their owners take off with investor funds. So the question is... how do we know you won't run?

Same here. I mean, I really like the idea and see potential but it looks like you came here totally unprepared. Normally its the other way around - first you take care of website, descriptions, prepare a nice summary of what you have achieved and THEN come to ask for money. As I said, I really like the idea so I'm not saying no, will keep an eye on this topic and see how things work out.

[ranlo]

I've been putting a lot of thought into this... there's just sooooooooo many scams in the crypto world. Even legitimate businesses are having their owners take off with investor funds. So the question is... how do we know you won't run?

Same here. I mean, I really like the idea and see potential but it looks like you came here totally unprepared. Normally its the other way around - first you take care of website, descriptions, prepare a nice summary of what you have achieved and THEN come to ask for money. As I said, I really like the idea so I'm not saying no, will keep an eye on this topic and see how things work out.

Yeah, it feels like an episode of Shark Tank. lol

[cma3]

I did not read through every post because, frankly, I do not want to figure out some one else's business strategies --

but on the surface -- since the OP seems to think that they know how to make purchases and then sell and then profit ---

it would seem like a loan (read: BTCJam) would be more appropriate than shares for a shell of a business.

either way, good luck with your endeavors.

[GT3000]

I've been putting a lot of thought into this... there's just sooooooooo many scams in the crypto world. Even legitimate businesses are having their owners take off with investor funds. So the question is... how do we know you won't run?

Honestly, I'm not sure how I can prove that. What do you suggest?

I've been putting a lot of thought into this... there's just sooooooooo many scams in the crypto world. Even legitimate businesses are having their owners take off with investor funds. So the question is... how do we know you won't run?

Same here. I mean, I really like the idea and see potential but it looks like you came here totally unprepared. Normally its the other way around - first you take care of website, descriptions, prepare a nice summary of what you have achieved and THEN come to ask for money. As I said, I really like the idea so I'm not saying no, will keep an eye on this topic and see how things work out.

First, I do appreciate the feedback, this is as much a work in progress as anything else. To touch on your other points, I'm not sure what a website would do to running a successful eBay store. I suppose it couldn't hurt but it feels like an unnecessary use of time and money, I am looking into improving the descriptions of my listings but that won't come into play for another week since I'm working on a template that fits all my listings. If you think my OP needs to be clarified, I'll be happy to do that.

I did not read through every post because, frankly, I do not want to figure out some one else's business strategies --

but on the surface -- since the OP seems to think that they know how to make purchases and then sell and then profit ---

it would seem like a loan (read: BTCJam) would be more appropriate than shares for a shell of a business.

either way, good luck with your endeavors.

Not interested in pulling a loan from BTCJam.

[My Name Was Taken]

This is how shares will be distributed:
Total Shares: 25,000
25,000 Shares at 0.001 BTC

Dividends: Paid bi-weekly.
70% to shareholders
20% for management
10% reselling fees

BTC Address:1H8xrQFKWdjJsrH7vgtri4w6RRpk3q7hDE

First Dividend: October 31st
Dividend Amount: (Tentative on price from USD to BTC) 0.209205024 BTC

Maybe I'm missing something, but isn't declaring a dividend before you've even sold anything counter-intuitive? If a share of profit is returned to investors through dividends, you have to have a profit first. Paying out dividends with the funds people give you for the business just for the sake of declaring a dividend and paying something out sounds too much like a ponzi. If dividends were based on a share of profits and were a return on investment, you would declare them every two weeks based on the profit of what you sold in the previous two week period.

[GT3000]

This is how shares will be distributed:
Total Shares: 25,000
25,000 Shares at 0.001 BTC

Dividends: Paid bi-weekly.
70% to shareholders
20% for management
10% reselling fees

BTC Address:1H8xrQFKWdjJsrH7vgtri4w6RRpk3q7hDE

First Dividend: October 31st
Dividend Amount: (Tentative on price from USD to BTC) 0.209205024 BTC

Maybe I'm missing something, but isn't declaring a dividend before you've even sold anything counter-intuitive? If a share of profit is returned to investors through dividends, you have to have a profit first. Paying out dividends with the funds people give you for the business just for the sake of declaring a dividend and paying something out sounds too much like a ponzi. If dividends were based on a share of profits and were a return on investment, you would declare them every two weeks based on the profit of what you sold in the previous two week period.

I apologize for not making that clear but I sold about 100 USD worth of wargaming terrain in a private party sale. I was going to put it on eBay but I got more than I would've from putting it on eBay.

[My Name Was Taken]

This is how shares will be distributed:
Total Shares: 25,000
25,000 Shares at 0.001 BTC

Dividends: Paid bi-weekly.
70% to shareholders
20% for management
10% reselling fees

BTC Address:1H8xrQFKWdjJsrH7vgtri4w6RRpk3q7hDE

First Dividend: October 31st
Dividend Amount: (Tentative on price from USD to BTC) 0.209205024 BTC

Maybe I'm missing something, but isn't declaring a dividend before you've even sold anything counter-intuitive? If a share of profit is returned to investors through dividends, you have to have a profit first. Paying out dividends with the funds people give you for the business just for the sake of declaring a dividend and paying something out sounds too much like a ponzi. If dividends were based on a share of profits and were a return on investment, you would declare them every two weeks based on the profit of what you sold in the previous two week period.

I apologize for not making that clear but I sold about 100 USD worth of wargaming terrain in a private party sale. I was going to put it on eBay but I got more than I would've from putting it on eBay.

I see. Did you make that profit though with funds from bitcoin investment (selling shares)? Otherwise, it would seem the shareholders aren't entitled to any profit that came before they invested, so why would you pay it out?

[GT3000]

This is how shares will be distributed:
Total Shares: 25,000
25,000 Shares at 0.001 BTC

Dividends: Paid bi-weekly.
70% to shareholders
20% for management
10% reselling fees

BTC Address:1H8xrQFKWdjJsrH7vgtri4w6RRpk3q7hDE

First Dividend: October 31st
Dividend Amount: (Tentative on price from USD to BTC) 0.209205024 BTC

Maybe I'm missing something, but isn't declaring a dividend before you've even sold anything counter-intuitive? If a share of profit is returned to investors through dividends, you have to have a profit first. Paying out dividends with the funds people give you for the business just for the sake of declaring a dividend and paying something out sounds too much like a ponzi. If dividends were based on a share of profits and were a return on investment, you would declare them every two weeks based on the profit of what you sold in the previous two week period.

I apologize for not making that clear but I sold about 100 USD worth of wargaming terrain in a private party sale. I was going to put it on eBay but I got more than I would've from putting it on eBay.

I see. Did you make that profit though with funds from bitcoin investment (selling shares)? Otherwise, it would seem the shareholders aren't entitled to any profit that came before they invested, so why would you pay it out?

It was still apart of the initial stock I was intending to sell. Shareholders are entitled to everything I manage to still up until the 31st when I pay out the dividend. The whole point of this is to help jumpstart the capital I need to continue purchasing products to sell for a profit. I hope that clears up any confusion.

[My Name Was Taken]

This is how shares will be distributed:
Total Shares: 25,000
25,000 Shares at 0.001 BTC

Dividends: Paid bi-weekly.
70% to shareholders
20% for management
10% reselling fees

BTC Address:1H8xrQFKWdjJsrH7vgtri4w6RRpk3q7hDE

First Dividend: October 31st
Dividend Amount: (Tentative on price from USD to BTC) 0.209205024 BTC

Maybe I'm missing something, but isn't declaring a dividend before you've even sold anything counter-intuitive? If a share of profit is returned to investors through dividends, you have to have a profit first. Paying out dividends with the funds people give you for the business just for the sake of declaring a dividend and paying something out sounds too much like a ponzi. If dividends were based on a share of profits and were a return on investment, you would declare them every two weeks based on the profit of what you sold in the previous two week period.

I apologize for not making that clear but I sold about 100 USD worth of wargaming terrain in a private party sale. I was going to put it on eBay but I got more than I would've from putting it on eBay.

I see. Did you make that profit though with funds from bitcoin investment (selling shares)? Otherwise, it would seem the shareholders aren't entitled to any profit that came before they invested, so why would you pay it out?

It was still apart of the initial stock I was intending to sell. Shareholders are entitled to everything I manage to still up until the 31st when I pay out the dividend. The whole point of this is to help jumpstart the capital I need to continue purchasing products to sell for a profit. I hope that clears up any confusion.

It does. Good luck with your endeavor. There's been a lot of scams on these boards and you can't be too careful. I hope the btc investment helps you unlock some potential, but most of all, I hope you're an honest guy for the sake of your investors.

[Patek]

Do you plan on buying back shares at some point? Lets say I invested some btc into this but one day I need to cash out - would you buy back shares?