Making Money Off Celebrity Deaths
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Muhammad Ali dies at age 74, Long Live The King, The King Is Dead
We have seen many legends pass away in 2016 and the year is only mid-way. David Bowie, Prince and now Boxing Legend Muhammad Ali.
Now why would How To Sell Online feature a short blurb about Muhammad, David and Prince? How is it relevant to selling online?
I am glad you asked that question! O.k. so you really didn't ask that question, its only been proposed to you so far.
Unfortunate for the world at large, we lose our champions, legends and heroes, and lets be honest, the past thirty to forty years have contained some great ones, like Michael Jackson, Robin Williams, Steve Jobs. For some reason, 2014 to 2016 has been a season where many are departing the great plains and oceans of planet earth and moving on to their final destination; and while tragic overall, for online sellers its an ironic blessing in disguise.
As an online seller, where buyers and sellers determine the value of a product, the passing away of famous celebrities or globally recognized individuals can be a lucrative moment to capitalize by the sudden and instant demand of products featuring or endorsed by those persons. Fans, friends, family, admirers head to eBay, Amazon, eBlueJay. Storenvy and other marketplaces in search of anything related to that stardom. Its a way to self consoul the feeling of loss or perhaps that final chance to connect in a way and cherish the memory.
Google search engine and rival search engines suddenly begin buzzing, social media gets bogged down with memories of the last time someone saw the person alive, how it made them feel, how sad they are to never be able to see them again.
A few years ago when Michael Jackson was alive, I sold a Sega Genesis video game cart that featured M.J. for around $48.00 on eBay. When M.J. passed away, that same video game doubled in price instantly. Smart sellers who were paying attention, went online and raised their prices, those sellers who didn't ended up selling low to cunning sellers who bought and re-flipped it at double, triple or higher in profit.
Right after Michael Jackson passed away, I had a Nintendo Wii Michael Jackson video game for sale as part of a video game console bundle, it sold quick. Before he had passed away, that bundle had sat there for at least three months.
Today, a Muhammad Ali DVD I had listed on multiply marketplaces sold. It has been for sale online for at least three months; DVD's sell slow. Though I had heard about Muhammad Ali's passing away last night, I had forgotten about the DVD, so I didn't jump online and raise my prices. Instead I awoke to the sounds of Ching-Ching from my I phone; a sale had occurred. Checking the details, I noticed the Muhammad Ali DVD had sold, yet it still took a few minutes to sink it. I had just missed an opportunity to double my profit.
I decided to check the current prices, and sure enough, the online sellers who were paying attention already raised their prices to double what I had the DVD listing at. But don't get me wrong, I feel blessed with every sale comes in, but I'd have felt more blessed with double the profit.
That just goes to show that even an advanced top rated seller can miss an opportunity when they are not paying attention.
The moral of this story is, people pass away all the time, famous artists, movie stars, musicians, brilliant entrepreneurs like Steve Jobs. It's just part of life. The bible has a famously quoted verse in Hebrews 9:27 "It is appointed unto man, once to die. then judgement", or in the words of others, "Birth is the beginning of Death". We begin dying the moment we get unplugged from the umbilical cord and detached from mom.
Passing on is simply a part of life, the last dance and its worth paying attention when it happens, whether to remember someone cherished or to make a profit. So if you happen to be an online seller who sells new or used goods of famous personalities, always remember that when they pass on, its a great moment to raise your prices and provide a new memory for those desiring to be comforted.
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| 9/11 World Trade Towers Burn |
Last thought is this, it doesn't always have to be a person passing on, it can be a memorable event that occurs, or a tragic story like 9/11 when the trade towers fell. But know this, you have to live in the moment to capitalize in the moment; there is only a small widow open before its gone forever. The day and following week are the best, the month following can be profitable also, moving into the second month and forward, prices will begin to return to normal or slightly above normal.
Watch the YouTube video!