085: Golden Finger Picker – Chad Pagel

Chad & Kimberly Pagel are treasure hunters who have been reselling for over 20 years. They are all about the hustle and have sold on eBay since the late 1990's. Their adventures have taken them all over and they share their knowledge and experiences on their YouTube channel Golden Finger Picker and are co-founders of the Facebook Group The Reseller Society with over 19,000 members. They are motivated by the treasure hunt as well as the networking with like minded people.

Interesting Notes

  • The couple originally comes from Indiana. Two years ago, they retired and went to Florida.
  • They are well known in Indiana as one who gives auctions. They have business cards and pass it out to people. They have built a good reputation. People were calling them to sell their stuff.
  • Kimberly has been picking and reselling longer than Chad had. She is now working on her master's degree. Every chance she gets, Kimberly and Chad do things together.
  • A few months ago, the couple decided to bring their strategy to Florida. They think it's high time to get their selves establish in their new community. They get their cards out there. And since then they never go to thrift stores anymore. They get phone calls every day from people selling their stuff.
  • Chad described a treasure hunter as somebody who is out, about looking for that next huge score.
  • He noticed that sellers become discouraged because they are looking at picking or treasure hunting with expectations that are too high. They see a lot of TV shows as to how these great things have been found. But, in all reality, resellers and treasure hunters live out of the bread and butter.
  • Earlier in the interview, Chad went to two towns and bought some gaming stuff. The gaming stuff is selling within hours he got it listed.
  • Chad usually starts his day shipping his stuff. Then he would list and goes out. Thereafter, he would meet up with some folks who are selling their items.
  • One of the rarest things Chad had found is the Beatles record called the Capitol Records Executive Cover. There are only three or four Chad knew have existed. He had his find authenticated by the world renowned Beatles experts, Perry Cox. His find is the first one that has ever been sold to the public market. It was banging $110,000. He took the risk and put in on public auction. It sold for $32,500.
  • Just recently, Chad bought 13 Wind Stone Dragons for $200. He listed it all on a Saturday. All but three were sold on a Sunday for $2500 worth of sales. That was because somebody got his card and somebody else knew the person selling the dragons.
  • For his dead stocks, Chad creates a Facebook or Craigslist post saying “Free! Come and get it for resellers.” There is some stuff that he would donate.
  • Chad and Kim have been doing eBay for over 20 years, and they are still learning every single day.
  • Chad cited one of the bumps in eBay — the defect system that hurts the sellers because they had no control. It was set up in a way that sellers lose control over their business. They didn't have the opportunity to give good customer service. The opportunity to take care of their customer was taken from them. Because all the buyer has to do is click a button and the seller is nailed if you are a good seller or not. Chad is glad that eBay has fixed it.
  • He hopes that eBay would work on the mass saturation of fake China stuff.
  • Chad is the co-founder of a Facebook Group called Resellers Society. It is one big place for learning. They do not allow somebody to sell stuff on the group. They do not allow a marketer to try to pitch new app. It's all about meeting like-minded people and helping each other.
  • When what they do now stop being fun, then they will stop. To the couple, it's all about life and fun. It's all about enjoying life. Their kids have grown up and this is their time. They are looking for more travels together. Their goal is to go out and make $30,000 a month on eBay.

Advice, Tips, and Tricks

  • You have to get yourself in the mindset of constantly moving forward.
  • Knowing something is worth comes with experience. If you are walking through a thrift store, it is the things that you don't recognize that you need to be looking into. Then take the time to check it out. When you check it out, it's in your data bank now and you will recognize it the next time.
  • If you want to network, get out of the thrift stores and meet people. Get your cards made and hand it everywhere. And word of mouth, news will spread.
  • You need to check the prices. Your profit is determined at the time of purchase, not when it sells. What is important is you decide what kind of money you would make before you buy it. You don't buy and hoped you would get this amount of bucks for. When you are just hoping, you are taking a huge risk. The key to making a good buy is minimizing your risk.
  • Before buying, you need to check the prices. You need to look to see what your competition is going to be as well as your completed listing.
  • Where you live is relative to the kind of items you are going to find to resell. You need to develop your own business and do it your own way. And take some pieces that are going to help you put in place your business.
  • How to become a picker?
    • 1. You need to have an alt for this stuff. You can learn how to pick. You can go out for sourcing for all day long. But if you are not selling the stuff, you are going to fill your house up.
    • 2. Grab some stuff around your house that you are not using anymore.
    • 3. Get your eBay account started and start selling this stuff on eBay.
    • 4. Learn how to do it.
    • 5. Get a little bit of a reputation. Work on getting a good feedback.
  • The best thing you can do as a reseller is sell anything and everything that will make you money.
  • Keep learning because you get to keep moving with the market.

Quotes

  • “What people believe to be true happens overnight. It just does not!”
  • “It's all about mindset. You are going to have setbacks. It's all about the learning process.”
  • “It gets easier as you go.”
  • “The key is learning from your mistakes.”
  • “You've got to be able to learn it to grow from your mistakes.”
  • “The key is not walking past something that is going to make you a huge profit.”
  • “Your profit is made at the time of purchase.”
  • “No matter what you do, in this particular time frame you are in, you are learning. Whether it is a mistake or a success. It is a constant learning process.”
  • “The key to making a good buy is minimizing your risk.”
  • “It pays off if you let people know you are a reseller.”
  • “The market and everything is always changing. If you do not keep up with the market, you are in trouble.”

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