Selling Beanie Babies can be a great way to get some cash for stuff that’s probably been sitting in your garage for years… but there are common mistakes to look out for. Avoiding these pitfalls can help you achieve better sales and higher profits. Here are the top mistakes to avoid when selling your Beanie Babies collection.
1. Not Researching Values
One of the biggest mistakes is not researching the value of your Beanie Babies. The “Ty” hang tag will tell you if you have a valuable Beanie or not. Consult our Beanie Babies Hang Tag Expert Guide to learn more and indentify which hang tags you have.
Only the oldest beanies (Generation 1-3 Hang Tags) have any value today. Generation 4+ were produced during the beanie baby craze of the 90s and thus, millions of each beanie were produced. If your Beanie has a hang tag with a yellow star on it, it is Generation 4 or newer. You want to find Generation 3 or older.
2. Selling One At A Time
It’s never worthwhile to sell one Beanie Baby at a time. 99.9% of Beanie Babies are worth less than the cost of shipping with USPS or UPS. If you’re not selling everything at once, try selling at least 4-5 beanies at a time to save on shipping costs. If you sell one beanie for $10 on ebay, they’ll take $2 in fees, you’ll pay $4-5 in shipping, and need to buy a bubble mailer for at least $1. That $10 is goes all the way down to $2 when you sell one beanie at a time.
3. Ignoring Condition
Condition is crucial in the world of collectibles. Beanie Babies in mint condition with original tags are requirements for value. Ensure your Beanie Babies are clean and in the best possible condition before listing them for sale. If tags are missing or damaged, they should be donated.
4. Setting Unrealistic Prices
Pricing your Beanie Babies too high can deter potential buyers. The prices you’ve read on social media are unfortunately wrong. Research recent sales of similar items to set competitive and realistic prices.
5. Poor Listing Descriptions
A detailed and accurate description is essential for attracting buyers. Include information about the condition, tags, any unique features, and the history of the Beanie Baby if known. Avoid vague descriptions and be honest about any flaws. Go into detail here – don’t just write a one paragraph description. Be thorough to ensure buyers understand exactly what condition your beanies are in.
6. Low-Quality Photos
Photos are one of the most critical aspects of your listing. Low-quality images can make your Beanie Babies appear less attractive and professional. Use a good camera, natural lighting, and take photos from multiple angles. Highlight important features and any tags or errors. This means multiple photos of the tag (all sides, inside and out), tush tag, face, etc. One or two pictures per beanie is just not enough.
7. Overlooking Fees
Selling on platforms like eBay and Etsy involves fees that can eat into your profits. Be aware of listing fees, final value fees, and shipping costs. Factor these into your pricing strategy to ensure you still make a profit. With ebay, you could sell a beanie for $10 and only take home $1-2 after fees, shipping, and packaging costs.
8. Neglecting Packaging and Shipping
Proper packaging is vital to prevent damage during shipping. Use bubble wrap, sturdy boxes, and consider insurance for valuable items. Offering free or discounted shipping can also attract more buyers. These add to your selling costs, so be sure to factor that in. SellBeanies.com pays for all shipping costs upfront so if you want to sell your Beanie Babies, go there first.
9. Failing to Authenticate
With many counterfeit Beanie Babies in circulation, authenticity is crucial. Verify that your Beanie Babies are genuine by checking tags, stitching, and other distinguishing features. Providing proof of authenticity can increase buyer confidence and the sale price. This is especially necessary on eBay.
10. Ignoring Buyer Communication
Good communication with potential buyers can make or break a sale. Respond promptly to inquiries, be polite, and provide additional information if requested. Building a good rapport with buyers can lead to positive reviews and repeat sales.
11. Handling Returns
There are tons of returns on Etsy and eBay so be prepared to handle accepting return requests, providing return shipping labels at your own cost, and refunding unhappy customers quickly, in a timely manner.
Conclusion
Avoiding these common mistakes can significantly enhance your success when selling Beanie Babies. If you want to sell all of your beanie babies at once, then SellBeanies.com is by far the best option.
