Thursday, February 02, 2012

the $10 business :: double or nothing- investment #2

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The $10 business is a financial experiment I’m doing based on Matthew 25. My goal is to see how much $10 can become in two years! You can read more about it along with the “rules” here, and catch up on older posts here.

Last week’s summary: $10 turned into $34.60

And this week: the second investment of the $10 business- a brand new with tags Fossil Reissue Weekender Bag:

The investment cost? $21.64. I bought it at Goodwill as a department store return/reject. It was beautiful!

I listed it on eBay, mentioned any flaws it had {one tiny little slice in the handle}, and sold it for $129 with free shipping!

The total fees for eBay, Paypal, and shipping were $29.01, so the total profit was:

$129-$29.01 {fees}-$21.64 {cost of item} = $78.35 profit! {all other taxes will be subtracted at the end of the year for simplicity here on the blog}


$10 business account balance as of Jan. 26, 2012: $34.64

$10 business account balance as of February 2, 2012: $112.99

So basically, in two transactions, my business account went from $10 to $112.99! I was thrilled with this week’s progress! I’d love to keep that pace- but I guess we will have to wait and see how it all turns out. ;)

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