128: The Wolf of eBay – Luke Deutschlander

Luke is an eBay power seller known as The Wolf of eBay from how he got his start online. He buys and sells, and now teaches people around the country how to make money on eBay selling used Smartphones & Electronics. He currently sells $25,000/month on eBay.

Interesting Notes

  • Luke had a rough childhood. His mom tried to murder his dad when he was still a kid. His parents went through a five-year-long divorce.
  • He moved out of their house when he was 17 and did not allow himself stuck in his past.
  • Now, he is 24 years old living in a small town with 13,000 people and is having a great life.
  • He sells $20,000 to $25,000 a month on eBay selling smartphones, smartwatches, iPads, and electronics. He buys any kind – new, used, cracked, and broken locks.
  • A lot of pawnshops in their area do not touch smartphone so he has the market to himself.
  • He also sources phones and electronics from Craigslist, Facebook Groups, and Facebook Marketplace. He has his own Facebook Group where he advertises.
  • He created his own Facebook Group two years ago and now has 14,000 members.
  • Luke sold on Craigslist before. But he got annoyed at dealing with people.
  • He stumbled upon eBay and watched a couple of videos online on Amazon and eBay. He decided to check on eBay because he types fast. He used to be a big computer video gamer. He could try eBay, list some stuff, and throw ads up in a minute.
  • He likes the eBay platform and everything on how eBay works.
  • Luke has always been a technical guy. He knew that in today's generation, technology is ever advancing. He thinks that phones and computers are the future, like everything online such as Netflix. Phones and electronics are only to become more and more valuable in the years to come. So, he thought that it is a good market to get into.
  • David Kosciusko, his business coach on eBay, turned him on to the cracked, locked, and broken phone niche. Before that, Luke only buys new and used phones.
  • He buys a phone no matter what the condition is. If you got an iPhone6 with a cracked screen, you can come to Luke and sell it. He will appraise it up on eBay and will pay you cash on the spot if you both come to an agreement. Then, he will let you sign a bill of sale and you can be on your way.
  • Selling phones to Luke are less hassle than in the pawnshop. And he pays more.
  • Luke has no need to haggle with the owner of the phones. People come to him with a mindset of “get this thing out of my pocket” or “get it out of my drawer because it has been collecting dust”.
  • He also buys water-damage stuff even if the phone does not turn on. He would only ask the customers the specimen of the phone. Phones that do not power on are still worth something.
  • Luke had closed a large deal with PawnAmerica, a local pawnshop. He talked to the district manager and was surprised to see him with four tote bags full of phones and iPads. It took Luke five hours to appraise everything which totals to $12,000 in retail value.
  • Over a period of months, the pawnshop's employees appraised pawned phones. They took in about $13,000 worth of inventory. They scanned it up and had it all discounted to Luke for 92%. He picked up the whole lot for $2,200 and sold it for $6,000.
  • In total, PawnAmerica took in $26,000 worth of bad inventory that they could not sell to the public. Instead, they sold it all to Luke.
  • Luke does eBay alone. He makes 100 to 150 listings in a month. Everything he sells is Buy It Now. If the item is a high-value one, he would run a seven-day auction.
  • He drops his business card off to a couple of smaller pawnshops in their area. They don't have much in their inventory but they give him leads (big customers). In exchange for a deal he would get, he gives something special to the pawnshop manager.
  • Luke stressed that it is important for this kind of business to judge people by character. To be good at reading people because there are people who would shoot a story that is not true.
  • He has every customer he buys phones from sign a bill of sale. His bill of sale states, “Are you the lawful owner of this device? Did you come to own it in a lawful manner?” Customers need to sign it up and that means that the liability is on them.
  • He also asks for the customer's driver's license and writes down all the information in the Bill of Sale.
  • When people get sketchy in giving their IDs to him, he would not buy the phones from them.
  • The other day, he bought a phone from a guy. The guy and his wife looked very nice and professional. The couple had a roommate in a flat they are renting. Their roommate is with them on their phone bill. Their roommate stops paying the rent, left the phone, and moved out without any notice. The couple became liable for the phone bill. So, they took hold of the phone so they could sell it and get some money back. They came to Luke with the iPhone7+. Luke paid a hundred bucks for it and sold it for $250 on the day Luke made this interview.
  • Another story is when he met another guy in person. They talked before over the phone and everything is fine. Everything sounds legitimate. The guy got four phones for sale. Luke asked for the guy's ID and the guy refused to give his ID. So Luke declined to buy the phones from him because Luke has no way to prove who the guy is.
  • To this day, Luke has not had a single issue with his purchases. He had never pursued somebody in court or deal with the whole Bill of Sale thing.
  • To this day, Luke has not had a single issue with his purchases. He had never pursued somebody in court or deal with the whole Bill of Sale thing.
  • He doesn't fix cracked phones. He appraises and resells the phones as is.
  • Luke has been approved for a house in a commercial-residential property. He would open his own phone store there where he would buy and sell smartphone. It would be a big step in the right direction.
  • He would call his phone shop as PhoneStop with a tagline “Buy, Sell, Fix”. He already got the domain name. He also has a graphic designer to do his branding. Everything will be color-coded and he will stick to a color scheme for his brand.
  • He will franchise his PhoneShop and branch off and then see where it goes.
  • He wants people to make his PhoneStop their go to when they need to sell their phones or need to fix their screens. He wants to send the message that “PhoneStop pays the best. PhoneStop is the best to deal with”.
  • Luke has figured out making money on eBay selling smartphones, smartwatches, iPods, and electronics. Now, he teaches others exactly how to do what he does.
  • He created a course, a private Facebook group, and a lifetime coaching. Sign up for his course and he will teach you the exact method on how he buy and sell smartphones and electronics on eBay. You can be making five, ten, fifteen, or twenty thousand dollars a month in no time.
  • He teaches anybody out there who is willing to learn. You can be young or old as long as you have a computer, an internet, and the will to learn.
  • Send him a Facebook friend request. He will give you access to his free Facebook Group to get you started. You can start learning there for free. You can then advance later to his paid course and coaching if you need to.

Quotes

  • “It does not matter where you came from. You can always be somebody else.”
  • “You've got to be positive no matter what is going on in your life. You cannot let the negative stuff gets you down.”
  • “You cannot blame your past for who you are today.”
  • “There is someone who is going to buy something, every day.” – Ron LaBeau
  • “Phones, MacBooks, smartwatches are going to be more profitable and more expensive in the future.”
  • “I will buy anything if I have looked it up on eBay and see that I can make a profit.”

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