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Amazon Bookseller's Training - August 2018

Jun 04, 2021
Ark of the Sorcerer's Apprentice appeared because he lives in Bremen Indiana. I'm actually in Warsaw Indiana, so if you guys are in the area and want to meet up and have a beer, I'll let people buy me a beer, how about that? buy a beer I don't care come to Warsaw let's hang out Josh says my wife is going to be mad I told her I couldn't pick up the kids because I had practice at 3:00 when she comes home and sees me sitting in Facebook over a beer, it won't end well Josh, it's been a pleasure meeting you, so we're up and running.
amazon bookseller s training   august 2018
If you have questions, post them below and I usually try to keep them to an hour because I've already wasted 20 minutes. I don't mind spending a little more than an hour. You can ask some questions and answers at the end. What we're going to try to do is look at how to source a little more efficiently, so we're not going to get into how to understand or how to know what books you're looking at that will certainly help you when you get started. I would definitely recommend scanning everything you can at a thrift store and learning from what you're doing. things you scan that just don't make sense and are worth money, there will be things you scan that you thought were worth money and of course they aren't.
amazon bookseller s training   august 2018

More Interesting Facts About,

amazon bookseller s training august 2018...

We've all been there, so we won't waste as much time. If you want to ask something in QA, we can get to that, we're going to want to take a look at the data that comes from Amazon, particularly classified prices, new prices, number of offers, other things too, we'll try to analyze them. as much data as possible and teach them how to interpret and make good decisions, so if you have ISBNs, some of you are already publishing them there, go ahead and publish them as PN. I already have a couple queued up and we'll also go through some findings, so the idea is that many of you start using the action triggers that come with Scout IQ or whatever app you're using or using the Amazon seller app, no are bad options and if I just want to use some preset triggers, the ones we made essentially changed the game, we looked at a lot of factors which we'll get to in a minute, but we want to help you learn how to interpret the data in the best way, we support the fastest way to exploration is by using headphones like the ones I have now or a Bluetooth headset, put the phone down and just explore and activate the audio triggers, that will be the quickest way to read the books as quickly as possible, however, it will be for the way Some data comes from Amazon and because some listings just don't make sense, you will overbuy, buy too many bad books depending on how you set your triggers, or buy less. miss some winners, so the quickest way is audio only or use some kind of trigger.
amazon bookseller s training   august 2018
In my opinion, the best way is to look at the data, train your brain to interpret that data, and then make better decisions as you go. So I left it as IQ if you have questions again, feel free to jump in and open them. I'm going to relax so I can chat with Matthew. If he has questions, they will post them here. I have Facebook activated in the background. I'm multitasking like crazy. Keith Edie Josh Ben. Thanks for watching how the other comments appeared too and thanks for being here. Thank you for giving us some of your time too.
amazon bookseller s training   august 2018
So we'll be talking. Again, if you're just jumping in, we'll talk about sourcing a little more efficiently, understanding the data, and trying to buy better books as you get back up, so we've got some ISBNs for Josh's Caesar, if you have them. others, we'll get to them in a moment, if at any point you can't hear me or you can't see me, just leave a comment below and that will trigger something happening Seth Ryan, thanks for being here like Well, you guys are asking to make the screen bigger. I can make my ugly mug bigger if you want, we'll show it.
Hopefully that will help. We'll show my screen, so let me open some other software as well. In a strange scenario now, about nine months ago I switched to Android. I have a Pixel Two phone and it has been great and I like it. I have a magnet on the back for car mounts and I'm really enjoying it. I still have a Macbook and technologies don't always intersect as well as we'd like, so I'm trying to get some new software for those of you who share screens. If you have a MacBook and an iPhone, it's relatively easy and you can set it up with QuickTime if you want to get nerdy with the software, if you're using a Pixel phone and want it to connect to your Mac or PC remotely like a Wi-Fi connection or Bluetooth, they can actually use what it is. called AirDroid, I've been playing around with it and I have to say I'm pretty impressed, so we'll look at the camera that should appear on the screen and allow me to make my mug a little smaller. apologies for this on the backgrounds, okay, so we should be able to see the phone camera on the side, let's try to make it as big as we can, okay, make it a little bigger but okay, so we have the phone screen, there's a little There's a little bit of a lag because we're using Wi-Fi, so I apologize if things look a little off, we'll center it, so I hope you can see let's move, let's move our faces and that's okay, thank you for your Patience, this was all set up before.
I had some issues with I guess popups being blocked or something like that in Chrome and I think we're now live, so we've got this set up where we want it and let's take a quick breath and jump in, okay? They're messaging me on Facebook, they'll all show up right now. I have to figure out how to turn off notifications on Android. Someone can message me later if random things come up. Just ignore it and let's engage for my exploration. set up if you're going to quickly scan again, we talked about how to interpret the data and I have a full sheet of barcodes.
If you saw us at the flea market in Show, we had something similar to this, let's just walk around, that one is blank, let's walk through some. I just printed out some barcodes from some books that we want to talk about and then if you have your own and you want to see it too, we'll see what data is on the screen and in addition to relying on Scout IQ to say hello, if it says ok , is probably a good book, we will teach you how to look at the data and try to make better decisions, especially when it comes to books that are selling. for a thousand dollars there are very few books that actually sell for a thousand dollars and we will help you try to identify what they are and how to be better Pete Vickey again Keith and Ryan thanks for being here, don't hesitate to ask questions. below and Matthew will stream some of them to me and I'll look at them as well, so my scan setup is I have a Bluetooth scanner, it's an optical in two thousand two, two thousand six, it actually works like a KDC 200. and I know some of you are also fans of the plug scanner, we're going to pair this essentially as a keyboard in stealth mode and what that allows us to do is just scan into Scout IQ and it should show my screen here.
I'm sure the air droids are doing their thing. I think we have a little legs, but that's okay, so we'll do our best to figure this out and show you what's going on so you can see my screen if I'm on. by tapping on it we can change the price and again I'm just going to change the barcodes here. I'm going to do all of this in live mode just so if you're doing it or if you're following along and looking at the barcode it's going to be a little bit simpler and again there's a delay that's not really due to the app but more to the fact that we are using some third party software here and streaming everything remotely.
I love the society we live in. I love all technology. Well, here we will mainly look at the main screen and if you are new to Scout IQ or Scout IQ is not the application that you use, let's briefly review the data that we are looking at, the most important thing is like anything else, it is the book that is sold in the past, what is the sales range and then what are the current prices and we are going to try to choose an exact price. What Scout IQ does is analyze four different parameters that we are analyzing. preferential prices we are looking at all used prices we are looking at the buy box and I will help you understand that there is some limited data that comes from Amazon we only get the lowest prices of 15 to 20 used and then what happens ?
Do we try to show it as best we can and try to make good decisions based on this particular book? I'll highlight it and we'll cut it out, we'll get to several examples of that so in this particular one we can see that there are 50 used offers the prices on the left we can see the lowest prices, we show the 15 lowest offers and the way we do it es we show the lowest bid 2nd 3rd 4th 5th then we jump to the 10th lowest and the 15th lowest and you will see in this particular case that the price does not move much, there is a Tons of sellers, all very close to that price, the FBA column is blank, now this is really important if you're not used to a browsing app.
I remember when At first, I got really excited and brought tons because the FBI column was blank and I said yeah, there are no top sellers. I may be the only seller and I came home and there were sellers on these books for seven and eight dollars and said what am I doing wrong? Well, Amazon again only shows the fifteen or twenty lowest offers. If there are no preferred prices on those twenty lowest offers, they will not appear in the app, so this can be somewhat misleading. We'll show you how to look around you. that Scout IQ already does this pretty cleverly, we'll teach you how to read that data and the third column is new, this one just has one new offer for some reason, it looks like Amazon kicked everyone else off the list and it's on the everyone's column, so the merchant complied and FBA appears there.
FBA there is none and we can see at the bottom this bottom line so I would say the top line with the rank and each score we will get the score in a second it is very important this book is selling the ranking is good in this egor moment is how many times the book was sold in the last six months and it's not exactly the number of times it was sold, it's the number of days it was sold at least once in the last six months, so it's not perfect , if it says 150, it's probably been sold two or three hundred times, we're just looking at the number of days with sales because we don't want to lie to you and tell you that's the case and use data.
That Amazon has not given us an e-score of 1 means that it was sold at least one day or only one day in the last six months, in that case it is not likely to be sold again, in this case a good score of approximately thirty it means it's selling Well it sells once every six days, if I did my math correctly at the bottom that's really important data, we can see that it was used per case which is almost always the lowest price. We just did a knee twist workout that will be implemented here shortly. I did it with Greg Murphy, so if you came to eat Greg's flip, thank you, we have an hour long workout that we just put together and my voice is still tired, so if I'm sitting here drinking water, I was drinking beers before. with Jeffrey Clark I've switched back to water because I'm going to play frisbee later today.
Any Ultimate Frisbee fan in the house 5:30 Grace College in the middle of campus frisbee tonight I'll see you out there, they used by the box. The lowest preferred price will almost always show you some examples of where it is and where it isn't, the new buy box is almost always the new lowest preferred price and the name is either on the listing or not, so let's walk you through it again. this FBA column. In this particular case it is blank, that doesn't mean there are no top sellers, it just means there are none in the bottom 20.
The used box is higher than all the used offers we can see, so the used offers that Amazon returns start at 594 go. up to 623, the buy box costs $13.99, which means it's probably the lowest mainstream price. Now in the bottom right corner, this icon just above the Scan button will show all the top prices on Amazon, so we'll click on it, it's what we call. our touch and you will be able to see that in fact the lowest preferred price is just preferred prices, it does not show anything else, we have filtered it to show the preferred price, you can only see that the lowest preferred price is in fact $13.99 .
I mean, close again from there. So if we were to scan this book again, let me find it. If we scan this book, Scout IQ is running a series of triggers based on East score and sales rank, so in this case it's probably looking for the lowest price, not visible, so it skips it, we'll see the most visible trader met, which was 623, and we'll say okay, that's our new price target until we look for other points ofdata, we look at the buy box if it is higher, in this case $13.99, we know. that's the lowest lead bid on the table now, depending on your pricing philosophy, you don't always want to be the cheapest lead bid, so in this case it may be an indication, let's say the lead bid was actually 8 dollars, it may be a cue to click anyway and say hey, the lowest is 8, it's not, but let's pretend it is, let's say it's 8 dollars and the next one jumps to, you know, 13, 14 or 15.
I think there were actually two books for $13.99 before I think there was one. of them just sold, you guys notice that Murph's books are also on this listing, which is Greg Murphy, so hi Greg, if you're seeing this. If the lowest prime price was lower, you might want to do click and say, "I'm fine, since the second lowest prime price is high enough and in this case our app and everyone else's are completely blind to that." alert them to the fact that the main price is $13.99 however that doesn't tell them what the second third and fourth is.
This is very important to understand when it comes to repricing, and many of you use repricing. I know some of you will. jump on Jackal, many of you use a beagle or some of the other options out there, make sure you really understand what data you're looking at because in this case, if you want to set the price and be the second lowest primary price just because you set your rules that way, no one can see them unless they are removing Amazon, which is against Amazon's terms and not good for anyone involved, so let's look at some other examples now that you understand the screen layout and look at this .
Again, here again the FBA column is blank, the way my eyes work. I try to look in the upper left corner. We've tried to get most of the good data points, so we look at the profit or payout based on the target price. which we are choosing in this case the logic of the applications and the triggers choose twenty eight dollars and if we were to sell at that price, you can take advantage of that profit and see the calculator if you are a merchant fulfilled seller change this to merchant fulfilled and leave it there and then exit if your FBA is like most of you or many of you, leave it in FBA, you can see the profits, if you sold it for twenty eight dollars, you would actually get a payment of nineteen dollars and change, you can change the purchase cost if you want, so I look in the left corner.
I said great. I'll make twenty dollars if I get this price. Now I took a look at a couple more things, one of how likely it is. this book to sell the range is just under one million 977 thousand, that's fine for a lot of people and again if you follow me I say the range for the most part is meaningless, it's a snapshot in time, a lot of people find it It says don't include anything with a rating below 1 million, I think that's absurd, frankly, I think over forty percent of my earnings come from books rated above a million, so be very careful, don't limit to a million core this is much more revealing, any score in this case is 26. it is selling almost once every six days for the last six months.
It's a pretty good clip. It is selling well if its score was low: three four five. I'm a little nervous because you probably won't get this price. The higher the East score, the more likely it is. I have to get that price, so a couple of things in this book: one, the lowest price is really healthy, it's twenty-eight dollars, however, the lowest used prices start at five seventy-six, so there are a lot of really low prices, now it's okay to ask for a pretty big Prima if the East core is high, in this case the East core is in the middle.
I don't know if I'd ask for twenty-eight dollars. I can only order 25. 1995, fifteen. Everyone has their own prices if it is a textbook. I'm going to order more because students will buy it in a normal book, this one may be priced a little high so just because the app went live except it says yes you should buy the book there are still other things you can look at on another thing. What I can see is that the new buy box is 1132, that doesn't mean it's a top deal. We'll show you some examples in a second before we even make any assumptions.
Let's click on the top deals and we see one in fourteen eighty two. sixteen then twenty eight then the question is why these deals didn't appear right first 1482 highest visible bid the lowest bid number 15 or 20 is just under $7 the top deals that are visible or actually listed or higher which means they are invisible and do not appear in this FBA column, so the most important thing to understand is why you do not see the prices in the FBA column simply because they are not among the top fifteen offers lows at the end of story now, the buy box usually has the lowest price, however in this case it was not like that, let's explain why Green Birch is a relatively new seller to get the buy box.
Amazon has a lot of algorithms behind the surface and they more or less give it to certain sellers. You have to be a professional seller. You have to pay $39.99 a month. You have to sell Prime. Typically, Amazon will almost always default to a Prime price. I have a very funny story about two thousand. one dollar book I sold yesterday yes I sold a two thousand dollar book unfortunately it was cancelled, but I'll explain why in a second you have to be a professional seller, usually selling Prime helps, you have to have good metrics, the fact of being newly released doesn't help, so in this case Green Birch has 16 ratings which is probably enough to qualify, but their feedback score is 87% and Amazon says you know what we'll give this to someone else who probably have more reputation.
The next offer only has a seller rating that is essentially just launched, they are probably not eligible either and then the third one with a $28 increase is a healthy seller, good feedback, 98% positive and almost nineteen hundred reviews, so Amazon really rewards them and says you can have the buy box, so the buy box is really important, a lot of people say well, the Bible is not so important for books, maybe for toys, maybe for music, maybe for other categories like cooking, however the guys at Franklin Media, James or myself, I'm running out of names, James if you're looking or Michael. if you're watching hello, thanks for chiming in, but these guys lost, they used it by the box for several weeks.
Amazon had a problem. These guys were actually going to fly to Seattle and knock on the door and say, Hey, can we tell you? You know, can we get our goodbye box back at a Mazon? You just know, I finally gave it back to him. I asked them to look at their sales and I'm not going to share exact numbers, but essentially they lost 50% of their regular sales by not having. the buy box, so the buy box is really important for this particular book, although there are top deals in the $15 to $16 range, if you can get the buy box and are eligible, you can price it against to reserve and again, maybe $28 is too high, but that's something you have to factor into your decision, so let's look at some other examples of buy boxes, then we'll switch gears a little bit and answer some of your questions.
We already looked at that one, so here's another example: the FBA column. it's blank again, that doesn't mean there are no top bids, it just means they're not in the bottom 15, the used bids are all together again, they're all at 5:36 and again, that doesn't mean they're all exactly there , but Amazon returns them all in that warehouse. You can see that choose me they used per case is actually 536 and every time they used per case matches one of those offers which you can see in the left column and the FBA column is blank. It usually means there are no top deals in the listing, so if there is a top deal in the listing, even if it's $500, it will actually qualify and if used by the case, Amazon may not show it, but will show it in the API so that When it comes to the explorers' IQ, you will see that the price every time they use the buy box is one of these or lower than what you can see here.
You know it's probably done by the merchant, so let's click and search for Prime. There are currently no listings. Not this now. It doesn't mean there are no listings, it just means there are no top listings. If you want to see used listings you can tap on the used header and we should see prices at 536,536,536, many of them are fine so when you come back to see cases like this. The apps will choose the highest possible price based on the triggers, in this case we had set it to look at the 10th lowest used price. In this case, the applications will tell you to reject it, however, it is selling 20 times in the last six months it is likely to continue selling.
The new prices are fine. I actually don't care about the new prices either. It doesn't seem to matter. Preferential prices are the only thing that matters and there are no preferential prices either, so if you are a cousin. seller, you can set the price of this book and in fact, for those of you who use the e flip strategy or do online arbitrage, you can see the ISBN in the corner, buy a copy for five dollars. There is a very good copy for 536 that you can set. the price now you probably won't get $50 like they use it per box.
I mean, you'll get the buy box, but you're not likely to sell it. Someone can buy it for five. They are not likely to pay 50 now. They are likely to pay 15 or 20 and there may be enough wins at those levels. We could go looking, there might not be any, let's say we can get 1995, if we got 1995, you make 12 dollars, so you can spend 5 and make 12, it's probably worth it. So if you're looking and want to buy it, feel free to come in and buy some of those books. Watch just a few more and then we'll stop beating the dead horse of used dollars, another good example from the FBA column. it's blank and again I preset them before so if you're wondering how the heck he has all this at his disposal I did my homework last night and printed out a bunch of barcodes that's how FBA is blank doesn't mean it's not there's Prime, they're just not in the lowest 15 that they used for low boxes, it's nine and seventeen and we see that the price is actually here now.
Scout IQ selected the highest visible price and here's why we looked at the numbers and formula. is the score e is 14 we're probably looking at the lowest prime price it's blank we jump up and look at the highest visible usage price 33 then we look at the buy box if it's higher if it's higher than that we know it's probably the price lower preferential the price in this case is lower, which means that the buy box was somehow won by a seller fulfilled by the merchant. Hopefully, this is the follow up to him. This makes sense if a merchant met seller 1.
The buy box means there is probably no one selling it. Prime, let's click and find out. Sure enough, there is no one on this listing, when that happens again now, we can set the main price. If there was a main price, it would be higher than what is visible, higher than 33, so Scout IQ is choosing 33 and saying, "Hey, you can at least price it." here if it's not higher now in this particular case the score is on the lower end, low to medium, not surprising, not terrible, so in this case, probably if the merchandising of a filler starts at 10 or 9, I probably won't go. putting a price of 100 probably not going to put a price of 50 29 is actually reasonable 25 is reasonable 1995 is I can easily sell it at that price and that's the thought process behind this and let's look at one or two more so here is an interesting case. and again I shortlisted them before so I knew what we were getting into again.
I'm looking in the corner saying hey, according to the price finder, I'm demanding and I can probably make a profit close to $20.00, so it's okay the range is okay 1.2 million core this is okay 13 major more low actually appears, so it's among the 15 lowest, it's 29 dollars, however, if we look at the usage per case, it's actually lower, it's 1378, so think about it, you guys can if you want . to comment there as well and say why you think it might be like that, then also jump in again and again, if you have comments, many of you are also commenting, so Joshua Han Samir, thank you for participating and thank you for being here and for your time in this case they used per frame is less than the lowest prime, so why do you think there is any assumption?
Feel free to comment on them too, so let's click, let's see whatis happening, there should be at least one cousin. price at 29, so we have a seller Jordan's top books Jordan, if you're looking hello, thank you for being here. Hopefully you're eligible for the buy box because Jordan just launched or possibly because it's not a primary or pro selling account. However, because you are trying to save a few dollars either way, you are not eligible for the buy box, so H

amazon

says no, you are not eligible and in their opinion they will give it to the best seller, which is generally the cheapest offer fulfilled by the merchant. so the buy box in this case or what would happen if someone goes to the product page and just clicks on that title, we're going to go to you, so if we go to the actual listing, it's a little bit different on a device mobile than on a normal computer. so you can see using the new 1396 1378, in this case Amazon actually has what's called a suppressed buy box and this is common on mobile a lot of times, there will be an option here to just buy it and you can actually lie. you can't see it, so 1378 if we add this to cart from the home page, you would actually get this book at 1378, which is what they use per case and I don't know if my screen is refreshing.
There you go, sorry if there's any delay. so on the

amazon

product page it says 1378 free shipping and if you just add this to your cart you will get that book and if the buy box was awarded to Jordan if you were able to get 29 dollars then you would actually earn it box and get about twice as many sales as their competitors, so I see a couple of questions here: how do I get the buy box back? be an excellent seller be a professional seller make sure you get over the facts where you are a newly launched seller make sure you get some feedback and some reviews.
I apologize that the AirDroid software is a bit late. It seems to be up to date. Now you can't pay Amazon. You cannot bribe Lord Be Zeus and gain access to be the buy box. So I'll just have to earn it by getting some feedback, making sure you keep your metrics up, and ultimately Amazon will reward you with that, so if you have any more questions in the By box, I'll take a quick trip here. I have a funny story for you. share and then we'll see more data as well, so again, per box it's very important that the guys at Franklin Media lost about fifty percent of their sales for a couple of weeks in a row where they didn't have the buy box, so if you think it doesn't matter in the media, think again, the buy box is extremely important to illustrate that point.
I want to share just a funny story. My wife texted me yesterday and said, “Hi, we.” We just sold a two thousand dollar book and I said we're going to Jamaica, let's go and she and I and I were like, wait a minute, I can't, there are very few books that should sell for two thousand, so what's going on? en We are doing a couple of price review tests. We're trying to see what kind of data we can see on the Amazon backend if we have a listing, so we're just playing around with a few things. listed a handful of books that the dealer fulfilled for nineteen ninety-nine dollars, two thousand dollars or so and we're just tracking them down to see what happens now, most of them we don't have so we don't own the books that don't have.
If you had any of these books, if you bought that book from me, I'll actually ship it from somewhere else and I'll make the money. It's a really great form of refereeing so far. Alright, some people have sent us emails. and we say, hey, is this book really that expensive? We say yes and then they leave, I never buy it. Well, someone bought it and the Ruizs went to checkout and went to the product page and just said Add to Cart, somehow we won the purchase. box now again we were selling fulfilled dealer which means we were probably the lowest used price at least from someone who has a good reputation so what happened is I opened that listing and there was another used offer for $70 from a new seller , so they did not qualify. we were listed for two thousand and we actually won the buy box and I looked at the current buy box, it was $3300 so the next lowest used price actually won the buy box.
Those aren't realistic prices, it just means you know, three prices. They went crazy or people like me gaming the system, there was a new book for $30, so I told my wife, hey, we could send a new book though, I can almost guarantee they didn't intend to spend $2,000. in a book about dogs or whatever, so I said before we did that, if we did that and they returned it, that's not the right thing for the client, that's a lot of money and maybe if they have that much money and they don't realize it. then maybe I can use it more effectively, but I wasn't going to do that second if they returned that book later.
I no longer have to pay Amazon fees, which on that book would have been fifteen percent or about three hundred dollars, so that would really hurt me if that was returned later, so we emailed the seller and We said, "Hey, did you want to buy our book for two thousand dollars?" They said no, that was an accident, we thought we were buying the thirty dollar book, so that's the power of the purchase. the checkout people are just trained to go in and just click buy add to cart they think they are buying it on amazon and amazon sometimes gives preferential treatment at ridiculous prices so that's the power of the checkout shopping.
I don't think you can build an entire business around that fake book dropshipping model, some people do, we'll come back to that story another time, okay, so that's the buy box. If you have questions about that, let me know, Gregory, who is xie israel and Gregory again. Hello, thanks for looking. thanks to everyone here and we have a ton of comments feel free to continue also josh says I started Merchantville Phil got a lot of comments like five to nine over a couple of months. I have been FBA for over a year and have only received ten more.
Someone will have a better answer. I assume someone is asking about comment percentages. It's very low, for every hundred books we sell, we would probably get one or two comments. That's all. I won't bother, there are some. services like five reviews I think, or great reviews, you go in and ask for reviews and that helps from the beginning, however, we buy a lot of books on Amazon and I don't like getting hit with all the things that leave me reviews if it's a brand. New seller, sometimes I go in and try to help you because I've been there too and yes, feedback doesn't happen on Amazon like it does on eBay. eBay scratches my back.
I'll scratch yours and people take the comments hostage. Amazon, it doesn't matter, in fact a lot of people think they are buying directly from Amazon and as a third party seller I agree if they think Crystal says: Does Alexa use the checkout box? if someone across the room tells you. Alexa to order and ship the ABC book is probably not a real book. I guess she comes out of the buy box. Do we have any ideas? Don't know. Try it with crystals. Find a book that's somewhat cheap and see what happens. My hunch is that they are.
They will actually send you the book from Amazon, they may buy the news by the case if you tell them to buy a used copy, they may ask you if you are sure, if you want to do it, so they can review it too. I would be very curious if it would be a fun strategy to do a Wren or Aaron says that if you put the price in the buy box, you would automatically get it. Amazon has an algorithm if it's usually the lowest price from a reputable seller on established reputable seller and I'm sorry, it's hard to like reading reviews and trying to speak elaborately too and it's one sided.
I can see your comments but I can't see you and it's weird just barking at a computer screen so excuse me if I get distracted so Aaron says if you put the price you know just in the bio box you have the guarantee of getting it if you are eligible. Yes, you can see if you are eligible to enter Seller Central, manage your FBA inventory, and then you can. set up, there is an actual checkbox if you go into settings that will say show if you are eligible and tell you if you are eligible for the buy box.
Ebooks are a little strange because many of them You are not eligible for the new purchase box and it will say that you are not eligible, but you can also check that. René says: will this video also be available on YouTube later? Yes, we are recording it and we should spit it out. Later let me check it. Yeah, we're recording, so we'll try to put this on YouTube later. Tim says sometimes I can't sell the book. Amazon says I am not approved to sell this brand. What do you do with them? eBay. Yes, you can do it on eBay many times, it's a brand restriction.
What's happening is someone misclassified it as, for example, Brooks, for example, is a publisher and it's also a shoe brand, so a lot of times you can email customer service and they'll get it. They will approve. you can sell that they just miscategorized it very few textbooks or ebooks are actually restricted if they are you can many times you can ask for approval or just sell on another marketplace Ryan says Caleb can you do a couple more examples of books I would buy that came up as a rejection and why I know I'm missing some books with data gaps, yes we will review a lot of other books here so wait a second and I apologize guys these are coming through to you. saying more examples, we've already talked enough about the buy box, so let's jump in and look at more examples and I just have a bunch of random examples here.
No, these aren't, it's not a lot of rhyme or reason. I just set them up here, so we're going to scan and talk about the results that come up and then we'll spend another ten minutes doing that and then we'll answer some more questions and we'll be able to look at some of your books, if you have some too, so let's make sure that look good and again, I don't have them, these aren't particular books right now, it's just a bunch of random ISBNs, so we'll go ahead and look. them, so in this particular case the rank is high 3 million The score This is 2 wait, this is still delayed let me reset my hair droid connection probably true consuming too much bandwidth in this small condo okay, this book in particular 3 million rank a score is 2 that's really good if you get a score of 0.
I probably won't buy the book. The lowest usage price is $15 at any time, so again, let's talk about a step back. I like to just jump into the weeds, but in general, the better the ranking. and a score, so the sales history better be if it's really poor. I'm ignoring preferential pricing. I don't think there's any preferred leverage on this particular book, it's only sold twice in the last six months, which means once every three months it's not like that. It will likely sell again soon, it will probably take another three months or so because past performance is the biggest indicator of future performance, so in this case I don't really believe in all the major leverage when it comes to pricing. this book for sixteen seventeen eighteen dollars Prime.
I'll get a tiny bonus. I'm not going to lower prices because I don't want to create a price war. Most people have it set up as if these guys are beating each other. a penny, if you got to fifteen sixty two, they'll beat you in fifteen minutes and you'll go in at, you know, 15 16 1 or 15 60 and you won't make as good if I'm going to sell it. I'm going to set the price at five cents on the dollar, two dollars more, not a big premium, but enough not to create a race to the bottom, so in this case the sales history is low, not very well, so I'm not going to set the price. much higher than the lowest visible prices, that's why Scout IQ defaults to selecting the lowest usage price at that price.
I would only make six dollars in profit, which is not high enough to justify sitting on my shelf for three months instead of sitting on Amazon's shelf and finally paying. they charge them storage fees, if it doesn't sell, this can be a decent example of merchant compliance, so if we go to the calculator and change that to fulfilled merchants, assuming it reaches us again. I apologize, this software works over Wi-Fi, there is a little delay if we go to the merchant fulfilled it is nine dollars this if you can pick up this book for free and you have a long tail shelf at home and you don't mind sitting on it, it may not be a bad book the merchant fulfills.
Personally, I probably want to see 2530 40 bucks before that's worth handling, but to each his own, I'm going to change this back to FBA so I don't forget, let's go over it a little bit more. books, so again we look at the sales history and actually let's show the other screen, so this is something we created within the app, this is kind of a secondary view or this, Scout IQ illuminates what we've done, actually we have done it. it turned green yellow red like a traffic light and instead of yellow we put orange just to match our branding so red the first two pieces are the story what's the current range one last sold 3.3 million probably sold two three months ago core this is it sold twice in the last six months so that's the sales history both are in the red so right now I'm telling you this is a long tail book it's not likely to be sell the next pieces.
We're looking at key prices, so which is the lowest? price used on the market if I had to match the lowest price what is that fifteen dollars? That's good. It's green, so using it by the box is good too. It is healthy. It doesn't cost less than ten dollars. It doesn't cost less than eight dollars. Alright. Amazon is not on the list. so they have no say in the matter and the total bids are really good, the fewer bids the better. However, if there are only two offers and the book is a ten thousand dollar book, that happens, I don't think.
I have some examples here, but if that were the case, I wouldn't really put any stock at that price, the more offers there are, I don't really care, I only care about the current prime prices, but the more offers there are. it's more likely that there are top sellers on the listing and it's more likely that it's a legitimate price due to efficient market theory, so let's stay on this screen and look at a few more examples, so again we look at the top, the two First pieces are related to sales rank, so is this book selling?
It's not much in red, what are the prices? Yeah, it's still there, come on, so the first two pieces are red, the prices that we can see are. in the middle 11 12 dollars not great ok amazon not in it not many deals and again im going to reject this book personally just because there's not enough meat left on the bone let's move on hopefully our software will keep up the background there we go okay, so again the first two data points here are either yellow or orange. I'll just call them yellow, they're yellow because they're in the middle sales range, it's okay at 2 million, each score is decent at 5. it's not great it's not terrible it's somewhere in the middle it's a Goldilocks the wear price more low is 8 dollars it is not the minimum price it could be 5 or 6 dollars that is the minimum price that we are seeing these days they used per box it is not on the floor, but it is not great either, so when I see something here where you know that Andy's score is red or yellow and everything else is just marked, it's solid green, I get excited because it's probably worth watching.
I think these There are a lot of long tail books, let's look at some more examples here, let's make sure our software is not lagging, so again, Andy's ranked scores are yellow, that's fine, there in the middle, the use price lower and the ones used per box, are really high. match meaningThere were probably no top sellers, so again they used per case and went to the lowest price managed by the merchant. Amazon is not in it, we don't have to worry about them, the number of offers is also low, so everything is checked again, the app tells us.
You know, we're going to price it at the 10th lowest price or the 5th lowest price based on the Eastern score, so we'll be $63, which might be a little aggressive. I would probably only price it at 35 or 40, maybe 49. I probably wouldn't go up to 63 just because it doesn't sell that often, it's only once a month with a score of 6, but that's what I'm seeing, let's move on , let me try again to explain my thought process as we go. We are going over these examples again. Most things here are red or yellow. The number of offers again.
I really do not care. It's more about ranking and price, but the number of bids plays a very small role, so here the ranking is 3 million, which is high. a score is 1 which is about as low as possible it's not zero but it doesn't sell much the lowest used prices are really low I'm leaving I won't even give this a second thought let's move on I think I have it some ebooks less long and we will get to them here as well, so again here the range and the E score in the middle 2 million 5 as e score, the lowest prices are quite low, the buy box is also low and Amazon is not in I repeat , in this particular case there are actually some preferential prices, we can see the reason why we don't select them in Scout IQ because the e score sells less than once a month, so we are mainly ignoring the preferential prices, no believe.
There is a big increase to be had right now and we are going to set prices closer to the lower end of things. This is a book. One of you asked a question. I think Rhys Ryan said, "You know, would you still potentially buy this book?" You can possibly get fifteen dollars and fifteen dollars at a great price, especially on a book like this trunk for young beginners. What is a children's book? But that means a parent is probably buying it. It could be for a birthday. They want it. Quickly, who should be more if you follow her, she looks like Gussie, but it is certain that if you see that you can, in this case you are thinking who will buy this book, someone who cares about chess, then, someone who is intelligent, maybe it shouldn't be. impatient and getting great, but someone will probably buy it for a child, in that case getting 15 bucks isn't a bad option.
This particular book says, Hey, you're only going to make six dollars in profit, all of a sudden, if I had to do it, it would be once a month. pay three dollars for it, I won't buy it, if I had to pay a dollar I would probably buy it and I could sit there for a while, but hey, you can roll the dice, turn a dollar into a six and that's not that easy. bad return, so it might be a book that I actually look at, we'll keep it on this standard Scout screen here just because that's where I'm most familiar, but I understand that that Scout light screen is actually a pretty good way to see, you know, it's good, bad or somewhere in between, let's try to find some things that are not long tail, let me try to scan, but I piled up things when I was looking to buy beans from us, give me a minute. okay, here's some other stuff that's not on the lower end, so here it ranks well, six hundred thousand, the core this is seven again, it's on the lower end, but it's sold once a month, the main price lowest is 10 dollars, second lowest is 11, so you could get 11, the buy box is actually 11 65, so this top seller lowest does not qualify again.
We already talked about why that happens. In this case, they have lower feedback, so they are probably ineligible, so 11 65 is maybe. where we could actually include it, it's three dollars again, these are the stock triggers that come with this, if you're happy to wait in a month and make three dollars on a 50 cent investment or a free book, then change your triggers so that Accept these, we try to be conservative here, we don't want you buying junk and we make sure you're buying the best books possible. Let's continue checking other books here, try to find some slightly higher eastern cores. there we go, so here's a good example: the FBA price that is visible is a 10:57 wafer that appears and again there is a little bit of a delay between our software that we are using, it's not a browser IQ , you per se, okay, here we go to the lowest.
The FBA price is 10:57 and it says at that price you would earn 470 and you are rejecting it because the e score is only 25 again. If you're happy with that, you can change your triggers, but this one is probably right. At the limit, I bet our trigger is set at about $5, so if we can go a little higher than that, then we can get this. This is a good example. This book sells about once a week. It's got a good core of 25, there's 26. weeks and a half year, so this is one that I'm actually going to click on because I'm going to click on Prime and in this case your books are on it for 10:57 there's not a position number two so if we want to price this in position number two we can basically set the market price now you can't get greedy you can't set prices at $500 and expect to get the sale now I can't wait you know 1495 likes the price at 95 so 14.95 1295 1995 I probably priced it at 1295 or 1495 and in those cases if I did my payouts would be much better so if I get to 14.95 instead of just under 5 dollars, I'll make a little over 8 and that's almost certainly a book I would buy, so even if this is the book you say on the surface, I wouldn't buy it because the app tells me no, don't buy it because we can only see a main price and that is the used per box, so in this case this is actually a book that I would feel very comfortable buying and that is why it is important to look at the data and say: ok, in this case let's go back to the situation if the e score was low like 4 or 5 I don't care I don't want to be number two in the Prime queue.
Either I'm number one or I won't even be Prime. I'm just ignoring it and the price close to the lowest trader is met, so if the score on this particular book is low. I'll skip it if it's in the middle like it is here, it's in the 2250 range, let's call it then, actually I'm going to wait a minute. I can probably be number two, three or four in line. and wait for the offer to arrive. I don't have to be the cheapest main price, so we just have one visible main price that should get your attention to wait a minute.
I don't see the full story that should indicate that. Click now if there were five prices, all under twelve dollars. I'll probably still walk away if there are only one or two prices or the second price is $20. I'll wait a minute. You could probably get 13 to $15 this. now all of a sudden it goes from right on the edge of not buying it to hey let's buy this book so we stumbled upon a good example let's look at some more and then we'll grab some. of your questions and we'll let you get on with your days so here's another book this and this is very common this is extremely common so a score is in the middle again I like to think of things as you know this is shown in yellow Me I like to think of things as bad, average or good, so this is in the middle, okay again.
I don't really pay much attention to range. Rank doesn't mean much, it's just how long the old core lasts and This is fine, so I'm thinking, okay, I'm fine being number two or three on line four. Prime, he was just very tall, as if the east car was a hundred. I go, I can be number five or six and just wait. the sale will come to me or it will be the lowest price and I will just move it as fast as I can. In this case, I see that there is nothing in the main column, so we are dealing with one data point.
Prime, that's it, the other data points that we can see. I don't put much preference or pay much attention to looking at the new lower prices. I know some people like to keep their used Prime prices lower than their new ones lower, in this case forty dollars. I don't think it really matters. Prime shoppers want it. To buy Prime books, I sell Prime books all the time, used Primes are more expensive than lower priced new ones and that's because people just think used ones are cheaper, that's all who look at or use the checkout box, so I don't do it. pay too much attention in this case FBA is blank.
I'm looking at the purchase box. It's higher than the prices in the left column, so I know that 1794 is the buy box. It is the lowest main offer that we can click on. and by validating that information, when we do that, we can see that indeed 1794 there are two people on the 1794 list and then the price jumps. This is stock trading terminology, it's not very technical, but the price jumps right there. there is low resistance so I can be number three in line and get close to $22 or 1995 or whatever the magic price is that you want to get to, in this particular case, although he told me to reject it because maybe my threshold of profit is six or seven dollars on this East score and again for those of you watching this, would you buy that book, lower your profit threshold, you can do that by going to your triggers,find out the range we were in right at 13 to 20.
Our profit target right now is 750, if you're happy with something lower, change it to five dollars, change it to four dollars, so set them again, don't stay blind, it's great to start with the blinds when you don't know what you want. you're doing and we support you, we'll make sure you buy good books, but if you constantly see things like this, realize that you're leaving things on the shelves that you couldn't be getting and that's intentional, we don't want you to buy a lot of junk, but we want to make sure that you're also buying the best books possible, so in this case, because the East scores well, I know I'm okay, being number two or three in line in this case.
I know I can probably get closer to $22 instead of the 17 listed here. Let's look at one or two more examples. It was very fortuitous that they came together. Here's another one and again I believe. It's 59% of the books, this is probably two months old. I haven't run the data recently. 59% of books, as it's called, two months ago, with a sales range of less than a million, so this qualifies, had 0 prime prices visible in the API, which means this. The FBA column is blank and that is the case here. There is no main price in the 15 lowest offers.
The used box is very important, but we only get one price again. This is exactly in the same range that we were seeing. 22 I'm probably fine being number 2 or 3 in line for 10 dollars and making a dollar profit, even if I got the book for free, it's not worth my time. However, I move on because I'm looking at the data. I'm not just scanning with audio triggers. I'm going to wait a second. I'm wondering what the number 2 leading price is, so let's click on this one, they're all grouped together, there's a lot of resistance, it's the stock term, there are 4 or 5 prices. all within a dollar, so this is a book I'm still going to pass up now if the second, third and fourth prices are all at $15.
I get excited and start waiting a minute. In fact, you should click and watch this. Let's see, we have some more. Here's another decent example. Each score is 10. In this case, we are still entering the buy box with a good core of 10 or selling one and a half times a month. I probably won't. I don't want to be number two in line and I'm not going to ask for that much premium over a $6 book if it doesn't sell, so often your mileage may vary, your thoughts may change if we clicked, let's see if there's a jump price, it seems that there are 2 3 4 5 prices below 13 dollars and then it jumps, it is not likely that I will finish those 5 offers and get a price of 1795, so in that case I will certainly leave that book aside, let's see in just a few more and then we'll ask you, we'll answer your questions.
I always say I'm not going to talk much and then I talk for a long time. Another way that Scout IQ protects you is that we actually look at FBA slots. In this case, because egor is very good at selling almost every day, probably every day we will be number three, four or five, there are no four or five prices, so we look at the highest price fulfilled by the merchant, which it's $16, we look at the used one per case, it's higher, no, so we stick with that, but then just as a sanity check, we always look at Amazon and say, hey, if Amazon is on that, they're not really we want to match Amazon now, an important thing we don't really do.
On Amazon we don't have the price, we have a discounted price, most triggers are set at ten percent less, so ten percent off a twelve dollar book is a dollar twenty, we'll be roughly at the range 1060 1070, so if we click over here, how's that for mental math? If we click here, the list price does not match Amazon. The reason is that we are getting a ten percent discount from Amazon. They try to be a little smarter, so a lot of times you will. scans books and highlights Amazon, that's not a flag, it doesn't say don't buy the book, it just says the price we had before was too close, we were flying too close to the sun, here's another book again.
The FBA column is blank, they use by the checkout is really healthy Hecht, the lowest use price is sixteen dollars, everything looks great, however, Amazon is in this listing for ten dollars, so we'll go in ten percent off that or eight ninety nine or nine dollars and there's not enough meat left on the bone if you're happy with two fifty that's great again this is one of those weird pricing philosophies you could probably put a price on this book in 1995 someone who just goes in and buys the lowest used price or uses it by the case thinking it's cheaper than Amazon will actually buy your copy, that happens.
I wouldn't recommend that as a general rule, but if you're feeling risky you might want to give it a try, here's a book, it's the highest you can get, the range is seventeen million, this isn't one I'm going to sit on like a long tail, this was probably sold three four five years ago, it's not likely to be sold again even though it's an expensive book, I'll probably leave it on the shelves, does anyone have a long tail shelf? Comment if you have, you have a long tail shelf, you just have a bunch of home run books like this one that are $80. or a hundred dollars or two hundred dollars that you just hope will sell, comment below if you have them.
I probably wouldn't put this one on my shelf with it ranking so high it's extremely high. Okay, the range is good. A score it really is. well, in this particular case, I'm happy to be three, four or five in line, this is maybe a textbook, the best book, something we can click on, look at, maybe with a score e so high, maybe a textbook in which we can see something lower. Prime pricing too, in this case I'll probably price that and in the fifty-five dollar range, sixty-five dollar range, I'll be number two or three in line, we're getting some feedback here, okay, so a couple of questions, hey. you don't understand what it means if the FBI column is blank or there are no prices, so the Amazon API, the way we get it as developers is the way we get data from Amazon, they say, we send them the ISBN and We say, hello, Amazon. give me all the results for this, well, many books have two or three hundred results.
Amazon is not going to give us all that data, there is no reason for that, it will just clog up their servers, that is a lot of wasted data because I am not. I care about the prices of the 300. I care about the relevant prices, so what Amazon does is they actually give us the lowest fifteen on some calls that we make to them to give us the twenty lowest offers, but what happens is that they will return the twenty lowest ones to us. offers the fifteen lowest offers, if there are preferential prices, we take them out and put them in that FBA column, which is the second one, this is the one I am highlighting if there are no preferential prices in the twenty lowest offers.
The column is blank now before and if you were using other apps before we went out, they weren't doing anything to look at other data points, so if the FBA column was blank and you said, I want to have the preferred price lower, I would. Let's just say sorry, we can't choose any price and reject the book or they would look at the lowest dealer. What we do is we actually look at the used box, let's go back to some that didn't have prime pricing in the lower twenty, so here's an example: The FBA column is blank, which means there's no one.
The fifteen lowest offers do not have preferential prices. That doesn't mean they don't exist, it just means they aren't visible in the data Amazon provides. us, so the box used by is very important and again, if you are late to the call, we saw this earlier, in this case they use the buy box, you are one of these used offers or the merchant fulfilled the previous offers and because of that smell that we take advantage of we can guarantee that there are no preferential prices if we find a different one and I have them labeled, yes, this one, the FBA column is blank does not mean that they do not exist, they are simply not in the fifteen lowest offers , so Amazon doesn't return them to us, they do give us the used box on a different call and the used box is almost always the lower primary price, so we can tell if we put a price on this.
We would price this a little higher, so I hope that helps. I'm going to stop the app and look for some questions. There are a lot of questions. Sherry says thank you. Pete said you were confused by the lower price. not on the 15 and FBA so I hope we've clarified that for you if you have any questions feel free to queue them up and we also have some beans that arrived earlier. I'll take them and if you have questions, send them. them on Matthew if you can help me I'll look for some beans manually and if you can help me with any other questions, watching this live I can only see about four at a time, less, is there a way to change that.
I don't know if it's because I'm the admin that I'm seeing something different or what, but in any case, if other questions come up, Matthew could include them. I'm going to take out some of your rice beans that I asked so Josh said look at this one please we're going to go ahead and post this live okay make sure it shows up so you can see that cake so the lag goes away , Josh, it's a great book, I don't know. what are your questions, the range is good, the score is good, I mean it's lower, it's average, it's not the best it could be, but it's very very healthy, they used the price to start at 175.
I love it , the new prices are at 271, so used by 174 boxes, there are a couple of things grouped in there, it's probably a textbook and every time I see a textbook I start going, you know you're making two decisions, one is whether I buy the book or not, yes, you should buy the book, especially if it's a dollar or five or even 20, you should buy the book. The second question is where do you put the price? We can click on Amazon and see the main prices, so we have one, two, three, they're all wedged in there. it could be getting a main push and they're not doing it, so in this case a score is fine, it's probably textbook, the way to validate it is to click on next.
I prefer to do this on a computer, but I'm fine jumping around. in this also in a normal application, we are going to burn, we will raise the sales range and we will zoom out to a year so that it looks like it holds. I had no rank, that's all, let's make it a year, sorry, fatso. finger on the screen, come on, come on, I don't see any smile pattern, in my opinion, this is not a textbook and Josh, you can see the price has been around fifty dollars, although it quickly jumped from there, so I am looking. right, it'll let me, yeah, I'm looking there, the price was 50 dollars, forty-four dollars and then it went up quickly, so the price historically has been between 100 and 150, it's actually on the higher end right now , which is probably why Top Sellers are so close, if I were you I'd probably wait and let those guys run out and maybe hit $1.99;
However, this book is typically in the hundred to $150 range, so I may be tempted to match one of these lower ones. prices and try to get the next deal, especially if I only have a couple of dollars invested. I don't care if I wait, you know, a couple of months and get a couple extra dollars. I prefer to move it like this. that's Cesar, you have a couple more SP endings, let's look at some of yours and again we're asking two questions, the one about when we're Scouts, should I buy the book while I'm trying to talk and write at the same time? and then the other is where do I put the price?
So let's answer that first a sheet music here is shown blank, that doesn't mean it's a good zero scan, it doesn't say zero, it says... that just means it's not in our database yes, we crowdsource if you're scanning books and they don't appear like this, all we can see is the ranking, but there is no score, now we are going to add that back in, which is pretty good, so the ranking is good. I don't have an Eastern score to go off of, it feels a little blind, but that's okay, the range at 200,000 means it sold two days ago or maybe two hours ago it didn't sell, it sold recently, we were able to keep up with the pace we wanted.
To see the sales history, the lowest price starts at $19 and I'm pretty happy with that. Now Scout IQ says $158 because we're taking the highest visible price because there's no top bid and because the used box matches our lowest usage. price, which means there are probably no preferred prices, let's click on them, but they are not eligible now, this is interesting because in theory there are only 11 used offers, somehow the Amazon API does not return thatoffer, so it's intriguing in this particular case, yes, you should buy the book if you're happy making nine dollars. I would probably price it between thirty-nine and forty-nine dollars.
You would have to look at a sales history through key cuts. In fact, I know if I would like to do it. That's right, if I mentioned this and looked at last year, it's still selling well, it's not surprising, it's not poor, it's somewhere in between. I'll probably price it at thirty or forty dollars. Caesar had one more, hopefully this will be helpful. a comment was put below, thanks for being on this call too, here's a good example from another book, so the ranking is 2.7 million, it's high, but no, it's not 17 million. Hi, Igor is zero, so this one has actually sold zero times in the last few. year it's in the database it just sold zero times used deals start at 250 prime start at 250 now the question we have to answer is is it realistic so we'll click on keepa and go look and we can see where it is sell now on this particular one because it hasn't been sold in six months we're not going to get good data this is a little strange the range kept going up in a way it went down but that's not a sale it stayed above two million if it's a sale, would it go down to one hundred thousand?
This book has historically cost over a hundred dollars. It went down for about a month or two in May and June to $45, but it's not selling at that price. Let's move away from its historical price. and look, you can see where the books were, so usually the book was less than a hundred dollars. We can see that in 2013 it was $21 when I started getting it in 2015, it was selling, it sold a good number of times. and you know, four dollars, it looks like it sold somewhere around here for around $125 and then if we were to look somewhere around here, it's hard because a lot of scribbles, this book probably sold in the range of $50, hasn't sold in over a year.
If I'm pricing that book, it hasn't sold at this price so it's probably not realistic, I'd probably mark down what's there and hit 99,149 somewhere, maybe even 49 and try to get the next sale , so again, should I buy? the book maybe the ranking is not so bad has a memory of it, many other books that have not sold in more than a year would probably be in the position 5, 6 or 7 million because this one was sold in the past again, we saw that everyone chart with the key friends you've sold ranked remember that you know it used to be popular and it just isn't because it's not a cool kid anymore, so the ranking doesn't go up as fast as other books, you'll potentially see the same trend with textbooks that haven't sold in a while may only get up to 1.2 or 1.3 million, even if they haven't sold in three months.
Well, let's answer some other questions. Is there any automated software that lets you know if you lose the buy box some of the suppressors probably do. I don't use any standard pricing or all pricing through my own system at this time. I think the Eagle app from what I've heard and again I'm just owned by off. Very generic research, so don't make me do it. I think they are pretty good at getting the buy box and can tell you what percentage of your items are eligible or even if it is or not, how long it took the seller. you mentioned that you noticed that they were noticing right away because their sales dropped again if you're a larger seller and you're normally making a thousand or two thousand dollars a day and all of a sudden your sales are cut in half and you're doing five hundred to a thousand a day you'll figure it out pretty quickly and start saying what's wrong, what am I missing is that my repressor is fucked, no, okay, what am I missing?
Well, you know there's something else going on, so that's a problem. someone says: how do I know what trigger I'm using? The triggers are mainly based on a score, so you can go back to the triggers and you can tap on them. You can see that the east core ranges trigger one is anything over 150, trigger two is between 115 and 150 in the east core, if so we always go for a score first which is a much better indicator than the range, If it's not in the database or we don't have a good core for some reason, we'll look at the range for you to look at. on those, then if East's score was 75, we would look at trigger number 3 in the 70 to be in the range of 71 to 114 and make decisions from that, answer a couple more questions and let you go back to your Wednesdays Matthew, thanks for helping us, if you don't know Matthews Barn, he is my business partner and has been instrumental in the development and marketing of Scout IQ, so if you like what you're seeing there, give a virtual high five . and I'm grateful to be on the team, someone says I was lucky to pay two dollars for this book, what would the price be?
Let's find out, so here's another book and guys, if you have questions, we'll make this video available later on Facebook and omyeon. Oh. Margin of Safety This is probably one of the best books of all time. We'll come back to this in a second. If you like what you are seeing, don't hesitate to share it with your friends. Invite them to the Facebook group. I'll do this at least monthly, maybe twice a month, it's fun to hang out. Let's hang out with you all, maybe I'll have a beer next time you can join me, maybe on the weekends not everyone can drink during the day.
I apologize, but we will try to do this at least once a month, maybe twice a month. month, don't hold me to that, but I'm sure once a month we'll answer some other detailed questions related to the books, it won't just be sourcing, we'll talk about the list of price changes, etc. this book, if you're not familiar with it, margin of safety is one of the best books of all time, it's very expensive, it's very rare and it's kind of like I think it's the story of Warren Buffett it's by Seth Klarman I think It's hard to see that image of this particular book.
Those are not incorrect prices. This book is actually selling at that price. The way to know is to open a chart again. I prefer to do this on a computer, we'll do it next time, but this particular book every time Green Line Falls, you can see what the black price was at that time, so 779 that book sold for at least 779 , if not more, that's just the lowest used price at the time of sale, the book actually fell for a while in the $7,699 range, you know 5:22 sorry, it wasn't selling and then , for some reason, became very popular.
I don't know, no, that's not when I don't know what happened there, but somehow the book became very popular in the peak of books then it went up again, so this particular book, if you have it. Congratulations, it should be a very quick and easy sale. 2 so the price at 9:50 let's look here and see what happens so the first book is at 899 it's from a decent seller 89 percent positive we have some pretty good sellers 4,000 reviews 98 percent feedback Skoob world has some of I've heard there are some fakes out there. I know there are some types on eBay.
I think they sell them and they are not entirely legit so be careful if you come across this, if it looks suspicious or photocopied you may not want to sell it. In this case, I don't want to be the lowest price, I mean, unless you want to sell it right now and take $900; rates that aren't a bad option if you can be number two and get 949. I priced at 949. I try to be number two in line, if I want to be number five I have to wait for three guys in front of me to sell to 950 before you can get a thousand.
I would probably put the price where the app tells me 950,949 types if there are any other last questions, let's jump to the ones now Daniel North says he wrote down the margin of the book for security reasons in a preview of the book sale, many people scan the business section but they missed it, that's amazing, it says the book is in excellent condition, the binding is so tight it's never been opened, it could just be a new printing. I'm not trying to scare you, there are some fakes in the books in general, but you'll probably be fine if you have any other questions, otherwise skip ahead now.
We'll end this if you guys are in Warsaw, Indiana, every Wednesday night, you do in the summer, at least play Ultimate Frisbee at Grace College in the middle of campus. I'll be there in about an hour if you'd like to join, come on, okay, I don't see anything else. I know there's a little delay guys thanks for being here girls thanks for being here one more question we'll get to that real quick Andy and Josh thanks for watching one more question and we'll wrap this up someone says I do a lot of bulk shopping . I'd like to hear your thoughts on how to set up triggers to detect the most satisfied merchants and FBA books.
I notice if I just use them. Triggers I'll miss a few books, but I'll be looking to learn more, so again you probably have employees if you're doing bulk purchasing or have people scouting on your behalf. Again, the quickest way to explore is to look at each aspect or I'm sorry to use audio and you're going to go over or under. The best way to frown is to look at the screen like we did and make decisions about, you know, I only see one main price. I would like to be the number. two or three in a row, so I'm going to click and look for more data.
I'm going to look for more data points so to speak, we close the phone here, what I would do is if you're submitting a merchant fulfilled trade if you're selling emergency fulfillment, that would change the triggers to ignore FBA and I would just look at to the lowest merchant fulfilled if the e-score is really good or the rankings are really good. I would look at the third or fourth. the merchant met the price if the rating is bad and look at the lowest price and I would set my margins. I set them very small. The other option you can do is look at the lowest FBA price if it's there and then look at the lowest merchant. fulfillment price, if it's there, you could uncheck the used by box and then you would just pick the lowest of those two prices that exist and try to run your calculations based on that again with traders with a bulk trade.
I'll want to set them up to be fine with a profit of 50 cents or 75 cents. I didn't answer that question very well. If you have other questions, I'd be happy to help you set them up to customize them for your situation. it's hard to know if I am if I don't know all the situations that are happening andrey k says as a newbie we should use a suggested price if so how long should we wait before changing the price? I found that if I price it Well usually the suggested price will be good every once in a while you'll see prices like 10 bucks and the price they used to buy boxes like 500 it just doesn't make sense if that's the case don't listen to the app. it's definitely a book you should buy and that's what the app is trying to help you figure out it's not a suppressor it's just saying if I should buy the book or not if let's say the usage prices are 10 dollars and the main price is at 500 dollars you don't want to get the right thing you don't want to price it at 500 you certainly want to buy it you have to make a better decision.
I have found that when I price the price carefully up front and don't just let the price break or drive it, the book sells pretty well for about 6 weeks and then they start to plateau, so I don't sell, my turnover rate goes down a lot, so between 6 and 8 weeks was when I discovered it was time to go. enter and harvest rice, something else says beginner. Thanks for being here. Ryan says: Are you dividing 180 by the Eastern score to get approximately daily sales velocity? Yeah, or sales per day or days per sale, so to speak, if the East score is six I know a score is out of, you know, 180 divided by six is ​​thirty, so it's only once every 30 days. or once a month.
Janey tells how to reset the triggers to the original settings. We are going to create an option where you can just click a button and it will reset in the meantime, uninstall the app and reinstall it, log in again and it will reset to the basic originals for you guys. Alright guys, my voice is tired, it's a beautiful day. I'm going to go enjoy thank you for watching thank you for being with us thank you for taking an hour out of your busy days also if you are a Scout IQ customer thank you for your business we will continue to do this and again we will try to help you better

bookseller

s whether you use our software or not, from Warsaw, Indiana, I will say goodbye, thank you for your time.

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