october Posted October 4, 2016 Share Posted October 4, 2016 there's more cost than just buying a book for X and selling for Y theres also cost of shipping, shipping supplies, fees, time etc. Are these numbers even factored into the numbers above? No kidding, but let's not run before we can walk here. Link to comment Share on other sites More sharing options...
revat Posted October 4, 2016 Share Posted October 4, 2016 there's more cost than just buying a book for X and selling for Y theres also cost of shipping, shipping supplies, fees, time etc. Are these numbers even factored into the numbers above? No kidding, but let's not run before we can walk here. to be fair, probably don't need to factor in his time as a 'cost' with 'value'. But I'd include grading and pressing fees when applicable. Link to comment Share on other sites More sharing options...
revat Posted October 4, 2016 Share Posted October 4, 2016 there's more cost than just buying a book for X and selling for Y theres also cost of shipping, shipping supplies, fees, time etc. Are these numbers even factored into the numbers above? No kidding, but let's not run before we can walk here. I'm pretty sure that the more he buys and sells, the better he gets at math. I'm no biologist, but I'm pretty sure that's how math works. Many people are saying that's how people learn math. Trust me, I know all the best mathematicians and sellers of great things. Link to comment Share on other sites More sharing options...
1Cool Posted October 4, 2016 Share Posted October 4, 2016 there's more cost than just buying a book for X and selling for Y theres also cost of shipping, shipping supplies, fees, time etc. Are these numbers even factored into the numbers above? I'd say the time spent on comics is a benefit rather then a cost. Think of all the trouble he could have been getting into in that time. Link to comment Share on other sites More sharing options...
1Cool Posted October 4, 2016 Share Posted October 4, 2016 Inventory Update Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 Loss $624.39 Not yet sold: 27 Comics Lost on: 28 Big Comics VS Little Comics Comparison Little Books Bought $2455.12+247.01+699.53=$3401.68 Sold $4007.43+1679.24=$5686.67 Losses $1079.43+637.19= $1716.62 Profit $568.37 Big Books Bought $5329.03 Sold $2340 Losses $2989.03 The above numbers make no sense. You bought $3,401.68 in "little" books and $5,329.03 in "big" books and you currently have $1,448 in inventory? That's $10,178.71. Where did your "total comics bought" number of $11,048.55 come from? Furthermore, if these numbers are correct.... Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 You have a profit of $823.61, not a loss. You spent $11,048.55 on books, you still have $1,448 of inventory, you sold $10,424.16 of them. Sales ($10,424.16) - COGS ($11,048.55 - $1,448) = $823.61 You total loss of ~$600 in the first section also doesn't come close to matching up with your profits and losses in the big and little books section. If this is how you are calculating your progress after 2 years, it's time to throw in the towel. No offense. He said his inventory amount is the amount he bought it for and estimates his inventory is probably worth $600 - $800. I still can't make sense of the rest of it but it looks like he is going to break even once he sells the rest of his inventory for a loss. Link to comment Share on other sites More sharing options...
Logan510 Posted October 4, 2016 Share Posted October 4, 2016 there's more cost than just buying a book for X and selling for Y theres also cost of shipping, shipping supplies, fees, time etc. Are these numbers even factored into the numbers above? According to Gabe, all those numbers are factored in to the numbers he posted. What that really means is anyone's guess though. Link to comment Share on other sites More sharing options...
Logan510 Posted October 4, 2016 Share Posted October 4, 2016 there's more cost than just buying a book for X and selling for Y theres also cost of shipping, shipping supplies, fees, time etc. Are these numbers even factored into the numbers above? I'd say the time spent on comics is a benefit rather then a cost. Think of all the trouble he could have been getting into in that time. By not working or going on dates? Link to comment Share on other sites More sharing options...
Logan510 Posted October 4, 2016 Share Posted October 4, 2016 Inventory Update Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 Loss $624.39 Not yet sold: 27 Comics Lost on: 28 Big Comics VS Little Comics Comparison Little Books Bought $2455.12+247.01+699.53=$3401.68 Sold $4007.43+1679.24=$5686.67 Losses $1079.43+637.19= $1716.62 Profit $568.37 Big Books Bought $5329.03 Sold $2340 Losses $2989.03 The above numbers make no sense. You bought $3,401.68 in "little" books and $5,329.03 in "big" books and you currently have $1,448 in inventory? That's $10,178.71. Where did your "total comics bought" number of $11,048.55 come from? Furthermore, if these numbers are correct.... Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 You have a profit of $823.61, not a loss. You spent $11,048.55 on books, you still have $1,448 of inventory, you sold $10,424.16 of them. Sales ($10,424.16) - COGS ($11,048.55 - $1,448) = $823.61 You total loss of ~$600 in the first section also doesn't come close to matching up with your profits and losses in the big and little books section. If this is how you are calculating your progress after 2 years, it's time to throw in the towel. No offense. He said his inventory amount is the amount he bought it for and estimates his inventory is probably worth $600 - $800. I still can't make sense of the rest of it but it looks like he is going to break even once he sells the rest of his inventory for a loss. Breaking even at this point is probably the best case scenario for him. Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 Inventory Update Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 Loss $624.39 Just joining in here so I don't know specifics but it seems you would have been better off dropping 11k into a Hulk 1 and flipping it. I was told that or a AF15 but I wouldn't have made all the mistakes that I have. Link to comment Share on other sites More sharing options...
Kenners Posted October 4, 2016 Share Posted October 4, 2016 (edited) Inventory Update Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 Loss $624.39 Just joining in here so I don't know specifics but it seems you would have been better off dropping 11k into a Hulk 1 and flipping it. I was told that or a AF15 but I wouldn't have made all the mistakes that I have. .. but that would be a GOOD thing, Gabe. Edited October 4, 2016 by Kenners Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 emotions don't equal stupidity No offense Gabe, but you have an issue with both. Hmm I'm not the sharpest guy but I'm determined. Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 Wait, nobody else picked up on the fact that by his own accounting he has $1,448 in inventory that he expects to sell for between $500-750? I'm still trying to figure out why he's using a different accounting for his little books than he is for his big books. Little Books Bought $2455.12+247.01+699.53=$3401.68 Sold $4007.43+1679.24=$5686.67 Losses $1079.43+637.19= $1716.62 Profit $568.37 Big Books Bought $5329.03 Sold $2340 Losses $2989.03 What are all the colored figures in the Little Books section for? Nevermind. I'm not sure why the others are colored but the red is for losses and the green is profit Wait, what? If the red is for a loss, how can you add it to two positive numbers to get a total number that's the sum of the absolute values of the three? And if the red is for losses, what's the line 'losses'? Seriously, I have no faith that you even know what your current situation is. Please do an introductory book keeping course, or at the very least buy 'book keeping for dummies'. And if you really don't want to invest any money there's always this. If you are ever successful at this, you'll have to pay taxes and might get audited. In that case you need books that can be scrutinised - which means they have to be understandable by people other than yourself. Sorry I didn't pay attention to what the color coded numbers were and I'm not sure why it turned out that way but put simple this it what I used to calculate it How much I spent - How much I sold it for - Losses = Profit made Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 Inventory Update Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 Loss $624.39 Not yet sold: 27 Comics Lost on: 28 Big Comics VS Little Comics Comparison Little Books Bought $2455.12+247.01+699.53=$3401.68 Sold $4007.43+1679.24=$5686.67 Losses $1079.43+637.19= $1716.62 Profit $568.37 Big Books Bought $5329.03 Sold $2340 Losses $2989.03 Dear God - your basic book keeping skills are heart breaking. Please explain your math on the little books section. $3,401.68 bought and $5,686.67 sold but you had $1,716.62 in loss but $568.37 in profits??? This is what really matters: Total Comics Bought $11,048.55 Total Comics sold $10,424.16 Inventory $1448 If your numbers are correct then it looks like you will be up $823.61 when you sell the rest of your inventory. This is assuming your sold number has subtracted fees and all cost to sell the books. I'm assuming the inventory number is what he paid for it...who knows what it'll actually sell for. I think most reasonable people would come to the conclusion that after 3 years and being in the red, that it might not be the best business for them. But even if he gets half he will still be up compared the loss he keeps talking about. But I do agree being up a couple hundred dollars after 3 years and $11,000 in sold books is so low I'd have not thought possible. Don't mix the big and little books and my inventory I just did that because someone asked for it. Go by the inventory list that's what you should focus on. [/quot Are you actually telling others what THEY should focus on? That's like Stevie Wonder offering to give driving lessons. Yes I am because people are adding the losses of both of my updates when that's all been calculated already and that's my inventory update Taking all that into account .. you're still in the shitter .. 3 years and you haven't made a profit. It doesn't matter that you think you're moving forward and you'll make the occasional mistake in the future .. the crux of it is: You're not making any profit. You're right I haven't made a profit yet If my math is correct, you have spent $11,000 to make $824 profit. Now, why does this sound good? I, also, sell comics to help my family and afford my comics, but it is done with a better formula. Did you see the sale I had where I spent $300 and made $1,500 in two days? (If I had more liquid money I could it more and on a larger scale). If you are going to sell comics for a profit them maybe you should change your how you do it? My formula is that I need to at least sell it for three times what I for it. It may not be the best result to get after two years of doing this and I made many mistakes but doing this I was hoping to at least get 30% by the time everything was said and done. I haven't checked out you're sales thread but now I'm curious. Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 I do like comics and enjoy reading some of them but I'm doing this to make money. Funny thing about a job is that you rarely have to worry about it losing you money. Yes but this isn't my job and all investments come with a risk my just happened to be one of the worst ones. Link to comment Share on other sites More sharing options...
Logan510 Posted October 4, 2016 Share Posted October 4, 2016 emotions don't equal stupidity No offense Gabe, but you have an issue with both. Hmm I'm not the sharpest guy but I'm determined stubborn. FTFY Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 What makes you feel like you deserve a job that you love and pays well? Why do you deserve it more than the person working full time and going to school full time? Or the person working 2 jobs to take care of his family? Why do you deserve it more than the soldier fighting for his country? Why do you deserve it more than the soccer player born with innate skills and crazy work ethic? Why do you deserve it more than the PHD student who has done 15 years of schooling AFTER high school including research that might actually HELP someone someday? Why do you deserve it more than every other person who finished college? or trade school? Or served in the military? OR doesn't have emotional issues? Do you deserve it more than every single person with more business experience, sense, education, or experience than you? Do you even deserve it more than the son who's dad buys him a comic book store? Why or why not? Why on earth would you be entitled to a job you enjoy AND pays well? What if you had a passion for something but it didn't pay well? Or what if you had a valuable talent, but you didn't enjoy it? You can find joy, honor (more than you'll ever have), and respect in ANY honest job, done diligently and with pride. And if you want to find something you enjoy but pays well, why the eff are you even remotely interested in comics? How many full time comic dealers on the planet do you think pull down six figures? And how many are in Canada? Do you have any idea? You probably have a better shot at joining the CFL or being a rodeo clown. You are currently a million miles away from even THINKING about a job that pays well that you enjoy. You can work towards one, but your level of entitlement (especially when coupled with your political views) is absurdly disheartening and frustrating. You're not operating in a reality that actually exists. You're operating in an addicts spiral, exacerbated by mental, emotional, and learning issues, mixed with healthy doses of questionable (at best) entitlement world views. I never said I should get one immediately and without any effort but everyone deserves something career wise that makes them happy. I'm not responsible and shouldn't be responsible for the actions of others like all those examples you mentioned, I never forced their choices upon them. I'm interested in comics because I can make money with them and I read some of them as well. Again you're saying it like I want a amazing job now and that's not right it's something to work towards. I don't talk politics on here for more then one reason. WRONG WRONG WRONG WRONG! You deserve what you earn in life. Anything else are gifts, gravy and icing on the cake. Why do you keep thinking I'm talking about the present? Past, present, or future, the statement "everyone deserves something career-wise that makes them happy" is never true. Believing it is true is why many people here have said you have an entitled attitude. You don't deserve a career that makes you happy simply by existing no matter how old you are. People who have careers that make them happy have earned their position in life through hard work and patience. This is what jcjames is trying to convey to you. Finally, it seems there are some here that are here simply to poke fun at or just flat out insult Gabe. If it's not constructive or at least funny (Gabe seems to have thick skin and a decent sense of humor), maybe try not to post here. And leave the election talk at the door lest this thread get scrubbed. Thanks for explaining that I always wondered why no matter what I said James would say I was entitled, having a sense of humor is needed in this world you can't be serious all the time or people won't want to be around you. Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 I wanted to be a professional basketball player when I was in grade school but after 4 years of being only ok in high school I decided it was not going to work out. At that point I made a decision to go another route. It's ok to change course after receiving additional information. I agree and I'm still working on what I want to be. Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 I wanted to be a professional basketball player when I was in grade school but after 4 years of being only ok in high school I decided it was not going to work out. At that point I made a decision to go another route. It's ok to change course after receiving additional information. The last 2-3 years have provided the OP with plenty of additional information. This thread has also supplied him with additional information. The only course change he appears to have made is moving into flipping games for losses. That's not true and about those games I have them so it's not a loss, the reason why I say this about video games is I'm more confident about my ability to get what I want with them compared to comics but I'll get around to having the same balance with comics. Link to comment Share on other sites More sharing options...
uchiha101 Posted October 4, 2016 Author Share Posted October 4, 2016 Would it be too much to ask to see a total $ amount spent (including unsold inventory) and a total $ amount sold? It does not have to be complicated. Some may not agree but technically would unsold comics still count as a negative for basic accounting purposes? Yeah I can do that I add all the other things you see just as a mental note to myself and track my progress, I count the inventory into the amount I buy and if it comes out a loss after I calculate everything so be it. That's at least how I view it. Link to comment Share on other sites More sharing options...
1Cool Posted October 4, 2016 Share Posted October 4, 2016 (edited) Wait, nobody else picked up on the fact that by his own accounting he has $1,448 in inventory that he expects to sell for between $500-750? I'm still trying to figure out why he's using a different accounting for his little books than he is for his big books. Little Books Bought $2455.12+247.01+699.53=$3401.68 Sold $4007.43+1679.24=$5686.67 Losses $1079.43+637.19= $1716.62 Profit $568.37 Big Books Bought $5329.03 Sold $2340 Losses $2989.03 What are all the colored figures in the Little Books section for? Nevermind. I'm not sure why the others are colored but the red is for losses and the green is profit Wait, what? If the red is for a loss, how can you add it to two positive numbers to get a total number that's the sum of the absolute values of the three? And if the red is for losses, what's the line 'losses'? Seriously, I have no faith that you even know what your current situation is. Please do an introductory book keeping course, or at the very least buy 'book keeping for dummies'. And if you really don't want to invest any money there's always this. If you are ever successful at this, you'll have to pay taxes and might get audited. In that case you need books that can be scrutinised - which means they have to be understandable by people other than yourself. Sorry I didn't pay attention to what the color coded numbers were and I'm not sure why it turned out that way but put simple this it what I used to calculate it How much I spent - How much I sold it for - Losses = Profit made Nope - not how that equation works. Your losses are factored into the amount you sold them for. How much you sold it for minus all fees minus how much you spent then gives you profits. If Gabe sells a book for $30 shipped and it cost him $7 to ship and $4 in fees and cost him $20 to buy it then how much has he made in profits? Edited October 4, 2016 by 1Cool Link to comment Share on other sites More sharing options...
