Update: Ken points out in the comments that you can buy the Gamer's club card in store and apply it to your account immediately so that there is no delay. Normally I hate going into stores but you have to end up in the store anyways so that is not a bad option.
For those who are not familiar, I started a series a while back called Turnover Tuesdays. Every Tuesday I like to highlight one item that I have resold. This will include profitable and non profitable sales. I hope that there is always something to learn.
For those who are not familiar, I started a series a while back called Turnover Tuesdays. Every Tuesday I like to highlight one item that I have resold. This will include profitable and non profitable sales. I hope that there is always something to learn.
Week 31 - Sometimes You Need to Stop, Refocus and Reprice
Week 32 - Target Cartwheel and other Coupons can have a Major Impact
Week 33 - Got a Return? You Might need to Reprice
Week 34 - Sometimes Returns Can be Very Profitable
Week 32 - Target Cartwheel and other Coupons can have a Major Impact
Week 33 - Got a Return? You Might need to Reprice
Week 34 - Sometimes Returns Can be Very Profitable
The Item - FIFA 16 for PS4
Best Buy was having a sale on FIFA 16 for PS4 on December 23rd. They were $29.99. If I remember correctly, the regular price was $50.
Thankfully I had bought a subscription to Best Buy Gamer's Club earlier(more on that later) which dropped the price by 20% to $23.99 or $25.67 after taxes.
Thankfully I had bought a subscription to Best Buy Gamer's Club earlier(more on that later) which dropped the price by 20% to $23.99 or $25.67 after taxes.
Credit Card Points
I earned 1% cashback from my Discover card or $0.25. This may get doubled to $0.50 at the end of the year.
Shopping Portal
I used the Discover Deals shopping portal for 5% cashback. That's $1.20 a unit. This may get doubled to $2.40 a unit at the end of the year.
Loyalty Points
I earned 2.5% in Best Buy Rewards for being an elite plus. That is worth $.60 towards a future purchase.
Fulfillment by Amazon Fees
I bought 3 video games on 12/23/2015. I sold all 3 of them of them on January 5th and 6th for $49.99. This was a very quick turn. I don't mind that at all! Especially since prices went down since then.
Fees were about $10.40 a unit at $49.99. Video games are tiny and don't weigh much, ideal for shipping. I spent about $.50 a unit shipping. Let's call fees $11 for even numbers.
The Haul
I sold them for $49.99. I bought them for $25.67 and there were $11 in fees. That leaves a profit of $13.32 a unit. That's slightly more than 50% profit!
Here is how the numbers work
Cash = $13.30
Credit Card Points = $0.25
Portal Points = $1.20
Loyalty points = $0.60
The extras are equal to about $2 so with the extras the take home is almost 60%. Even better if Discover doubles everything!
If I hadn't already been a Best Buy Gamer's Club member, I would have paid $32 for the video games after tax instead of $25.67. That's $6.50 per game! I bought three games so that would have cost me $16,80 in profit. In addition, my profit margin would have gone down from over 50% to close to 20%! Still worth it, but a major difference.
Let's analyze the Best Buy Gamer's Club to see if it is worth it (Hint - it is so worth it)
Best Buy Gamer's Club costs $30 for a 2 year subscription. The main benefit is that you save 20% off new video games. If you spend $150 on video games in 2 years, you just made your money back. Anything more than that is profit. You can see that it isn't difficult to make it worthwhile. I've bought $400 of video games at once. The subscription has paid for itself a few times over at this point.
A couple of pointers:
- Requires an in store activation. I don't know why they make you do this, but the subscription comes in the mail and then you bring the card to Best Buy to be activated and added to your Best Buy account. At that point, your discounts will automatically be reflected at checkout.
- You receive the discount when you checkout online the first time with Gamer's Club in your cart even though the subscription is not active. It can be hard to tell that you are getting your discount since the price just goes down and it doesn't say why. Check out the price before you enter the Gamer's Club subscription and after to confirm you are receiving the discount.
Once you buy the subscription, you will have to wait until it comes in the mail to activate the subscription before you can receive your next discount.
The extras are equal to about $2 so with the extras the take home is almost 60%. Even better if Discover doubles everything!
Best Buy Gamer's Club
If I hadn't already been a Best Buy Gamer's Club member, I would have paid $32 for the video games after tax instead of $25.67. That's $6.50 per game! I bought three games so that would have cost me $16,80 in profit. In addition, my profit margin would have gone down from over 50% to close to 20%! Still worth it, but a major difference.
Let's analyze the Best Buy Gamer's Club to see if it is worth it (Hint - it is so worth it)
Best Buy Gamer's Club costs $30 for a 2 year subscription. The main benefit is that you save 20% off new video games. If you spend $150 on video games in 2 years, you just made your money back. Anything more than that is profit. You can see that it isn't difficult to make it worthwhile. I've bought $400 of video games at once. The subscription has paid for itself a few times over at this point.
A couple of pointers:
- Requires an in store activation. I don't know why they make you do this, but the subscription comes in the mail and then you bring the card to Best Buy to be activated and added to your Best Buy account. At that point, your discounts will automatically be reflected at checkout.
- You receive the discount when you checkout online the first time with Gamer's Club in your cart even though the subscription is not active. It can be hard to tell that you are getting your discount since the price just goes down and it doesn't say why. Check out the price before you enter the Gamer's Club subscription and after to confirm you are receiving the discount.
Once you buy the subscription, you will have to wait until it comes in the mail to activate the subscription before you can receive your next discount.
Posts
