Too Much Inventory!

Sometimes you get to a point when you know something needs to change…I’m at that point! Like many people in this biz I enjoy finding the items I put in my store. The hunt is the ridiculously fun part and it’s easy to spend a disproportionate amount of time on this one aspect. But with excess inventory now cluttering parts of our house and our garage filling up with storage bins, I really need to get serious about addressing this problem.


Possibilities

  • Get a storage unit for the excess. This is a common solution for many. I checked into prices of nearby units. Currently a 5′ by 12′ upstairs unit is about $90 a month. Hmmm. I’d rather not do this though.
  • Get a booth in an antique mall.  I spoke with the owner of one mall by phone. For some reason she wanted to steer me towards a locked cabinet and quoted a price of $160 a month, plus 11% commission. Ouch! But I don’t want a locked cabinet. I want a booth for bigger hard-to ship things like quilts, pottery, paintings, etc. I’ll need to go and visit in person and get more information, but I’m not confident this would be a good move financially.
  • Cull out older pieces that haven’t sold. Like most pickers, I’ve bought things over the years that just didn’t capture a buyer’s attention even with a reduced price. Most were bought in my early, less discriminating years. I’m going to gather these up and donate them back to charity. I thought about having a yard sale, but I’m not wasting any more time, energy or space on them.
  • Run more sales to reduce inventory faster! I am starting to do this now that Etsy has launched a handy new sales feature.
  • Stop buying “new” inventory for a while. Okay, this is an obvious step and the toughest. Likely I won’t stop hunting altogether, but I will be very picky about what I buy.

So I have a few good ideas to try and hope to clear out enough stuff so that by the holidays our house and garage will be noticeably less cluttered.

And I swear I was picky when I popped into Goodwill for a few minutes today! Only bought a couple of things. 🙂 First this fabulous Ken Edwards pottery mother quail with two chicks.

quail1

These type of vintage Edwards’ El Palomar pieces are not valuable, but they are collectible and I have sold a number of his ceramics. It was a no-brainer to put these in my basket!

quail2

Then I found what I hope is an authentic Kate Spade purse for $14.85. The leather and workmanship are good quality and all the logos seem authentic. This style is listed as a Grey Street Cooper on the Spade website.

Kate-Spade1

The only hitch…a few fashion bloggers have stated that authentic leather Kate Spade purses are ONLY made in Italy. This one was made in China. I went to the official Kate Spade site to verify and they state that their leather purses are “imported.” Well, that’s no help, so I emailed their customer support and asked. Haven’t heard from them yet. At present I’m 95% certain this is an authentic Spade bag, but if it isn’t I will exchange it or keep it to use. (It is quite nice!) I wouldn’t sell a knockoff. [Postscript: Heard from a representative at Kate Spade: “Please know, the majority of our leathers are sourced from the U.S., Europe, and Asia, and are ultimately finished in Asia.” So the bloggers’ info was old! Looks like I got myself a Kate Spade purse. :)]

Would love to hear how you deal with too much inventory!

Happy hunting,

Karen

 

6 Comments

  1. I’m not a real dealer, but I’m also selling part of what I collected.
    Sometimes I go for your solution no.3 (cull to charity) or no.5 (buy less). I had some belongings in storage and it ended up badly (hint: fire at the premises)…
    Hope you find the right solution 🙂

    Liked by 1 person

  2. Thanks! I am definitely culling some and trying to buy less. I may focus more on smaller items too, like jewelry. All the best, Karen

    Like

  3. How about only bring in the same number of items that go out? Sell 3 items this week and you are allowed to bring home 3 items, if you must. Or maybe even a smaller percentage such as sell 3 bring in 2.

    Liked by 1 person

  4. I am having this same problem also. I don’t like selling online, so I opted to just increase my space at the co-op I currently sell items in. I also decided to try a second location a few months ago, but that hasn’t worked out as well as I had hoped, so I will be closing that booth down at the end of the holiday season. I’ve decided to try and sell a lot of marked down items there over the holidays.

    Like

  5. That sounds like a good plan! I’m hoping to get this stuff under control in the next few months. 🙂 – Karen

    Like

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