Quote:
Originally Posted by Gorditadogg
have enjoyed reading about your project. It's amazing how you're finding a market for these cards. And you are doing better than you think, because your accounting is flawed.
There are two ways to do the accounting. The first and easiest way is to take cash in less cash out. Your cash in so far is about $66. This is what you received from ebay. Your cash out is the $58.74 initial investment. So you are up $7 already.
The other way to do it is set by set. For the sets and lots you've sold, you have netted a $55.45 profit. Your 80 unsold sets cost you 59 cents each or about $48 so you have a loss on those so far. The net again is about $7.
So congratulations! You are already in the black on your project.
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Thanks for reading...glad you're enjoying it, and you're right...I figured I'd make my money back...but didn't expect to do it selling less than 20% of the total.
And yeah, I think I was trying to be TOO conservative with my math and ended up kind of double-counting the expense.
It's crazy to think about how much this little lot will eventually pay back...even if i need to discount some of the sets and cards to get them gone.
Anyway, not getting rich on this, but it's been fun to show you can make your money back!