Reselling Glossary - Probably Busy

Find below a list of terms you can expect to hear in the UK reselling community. It also highlights where words and phrases in this context may differ from their standard definitions.

 

100% complete: A second-hand item that is confirmed to have all of its components, particularly significant for board games and jigsaw puzzles

Acceptable: Amazon and eBay product condition, which suggests the item is heavily worn, but is still usable for its original function

Alibaba: Chinese wholesale retailer, often used for sourcing

Amazon: Popular online retailer, which also allows brands and the public to sell products online

AmazonSeller: Amazon’s official Seller Central app, enabling users to scan products, compare prices, and list them

AMS: Amazon Marketing Services. Platform to pay for ads to appear for products to appear on Amazon

AMZ: Abbreviation of ‘Amazon’

Antique: An item that is at least 100 years old

Antiquity: An item with antique qualities

Arbing: To take advantage of arbitrage opportunities

Arbitrage: Marketplace imbalances, in which a product may be worth more on one than another

ASIN: Amazon Standard Identification Number. A product’s unique product number on Amazon

Auctions: Either offline auctions or online time-constrained auctions

Bank holiday boot sale: A boot sale held on a bank holiday, often attracting more buyers and a sellers than regular fixtures

Best Match: eBay search algorithm that estimates search intent, based on your query, and that of existing listings

Best Offer: A feature of eBay that allows buyers to haggle on the price of a Buy It Now listing

Best Sellers: The most popular products of a particular category on Amazon, in a specific time frame

Bid: An offer for a certain price of a lot at an auction

Bidder: A person that bids on an auction

Bid retraction: To withdraw a bid offer

Black Friday: Retail sale event taking place on the final Friday of November

Blocked buyer: A buyer that has been denied the right to buy your items

BNIB: Brand new in box. An item that is brand new and in its original box

BOLO: Be on the lookout. A product or brand to watch out for when sourcing

Boot sale / car boot / boot fair: A local outdoor event where the public buy and sell (mostly) second-hand items

Boot sale job lot: An assortment of products that would be suitable to sell on at a boot sale

Boxing Day sales: Retail sales that follow from Christmas Day, largely replacing January sales

Bundle: To include a related product (or products) to a listing, which would usually be sold individually

Buy Box: The product page for a specific item on Amazon, for which the seller may be Amazon, a brand, a Marketplace user or an individual using the FBA programme

Buy It Now: A fixed-price buying format on eBay

Buyer’s remorse: When a buyer decides they no longer want the product, and may be able to get a full refund

Camel: Abbreviation of CamelCamelCamel, a platform that tracks the price of Amazon products over time

CamelCamelCamel: A website which archives the historic price changes of products on Amazon

Car boot: Variant of boot sale, an event where (mainly) second-hand products are sold outdoors

Case: A dispute on eBay over a sale, which may result in a return, refund, or negative feedback

Cash on collection: To pay for an item (from eBay, Gumtree, Craigslist, Shpock or elsewhere) with cash, once it has been collected in person

Cashback: Rebates earned for shopping at specific online retailers, often through an affiliate programme

Categories: Classifications of products on an ecommerce site

CCC: CamelCamelCamel. An Amazon price tracker

Charity shops: Charity-run shops that receive donations of (mostly) second-hand products, and are sold to the public

Christmas: Festive event on 25th December that prompts high sales of giftable products in October, November and December 25th December

Clearance: Stock that needs to be

Closing down: When a business is winding down operations, and often sells its stock at reduced prices

Collectible: An Amazon condition value that indicates an item is rare or unique, superseding the ‘New’ to ‘Acceptable’ scale for most products

Collection: A set of products, which may have originally been sold together, or they fall under the same brand, category or theme

Combined shipping: To create a single P&P cost for the sale of multiple items, rather than doing so individually

Completed: An eBay search filter showing lots that have run the full duration of their listing

Condition: The quality of a product, often on a scale of ‘New’ to ‘Acceptable’

Corporation tax: Tax based on a company’s profits

Craigslist: An online marketplace primarily for selling second-hand products and services locally

Deadstock: Out of season products which are no longer sold by standard retailers

Dealers: Experienced, possibly full-time, buyers and sellers

Deductibles: Expenses that won’t be considered, when calculating your annual taxable profit

Delivery: The process of sending a product from

Depop: An online platform to buy and sell products, primarily clothing and accessories

Discontinued: When a retailer stops sourcing for a particular product

Discount code: A discount code which, when input on an ecommerce site, reduces the cost of the transaction

Dispatch: To send a product out for delivery

Dud: A sourced product that isn’t worth as much as originally thought

eBay: Popular online marketplace for buying and selling products, either at a fixed price or through a time-constricted auction

End-of-line: When a product is no longer being sourced for sale from a retailer

Etsy: Online marketplace for craft and personalised products, as well as vintage items

Event: A retailer’s sale

Ex-library: An item (usually a book, CD, VHS or magazine) that was previously used in a library, so may be stamped or stickered

Expenses: Costs associated with earnings

Facebook groups: Community pages on Facebook, often referring to either local groups for buying and selling, or groups to share reselling experiences

Factory sealed: An unopened item, sealed as it was when manufactured

FBA: Fulfilment by Amazon. A service enabling Amazon sellers to send their products to an Amazon fulfilment centre, and once sold, the company pack and deliver it under their Prime service

Feedback Score: The overall feedback rating of an eBay user

Feedback: Reviews of your service on a marketplace, often rated as either Positive or Negative

Feeding the beast: Sending products to Amazon for FBA

Fees: Any commission or expenses deducted from the sale or listing price on an item

FI: Financial independence. To live on sustainable personal wealth, often through passive income

Final value fee: Total cost of all eBay fees associated with an individual listing

Financial independence: To be able to live off personal wealth, which may or may not be topped up through passive income streams

Flip: To buy something for a low amount, and sell it on for a higher value

Free listing: Feeless listing on a marketplace

Free P&P: Waivered fee for postage and packaging costs

Fulfilment by Amazon: Service offered by Amazon to store a seller’s products, until it sells, and then dispatch the order through their Prime services

Fulfilment: The process from a purchase transaction to its delivery

Gated: Amazon categories and product types which are restricted for product listings by new or unverified sellers

Good: Amazon and eBay product condition, which suggests the item is opened, used, but is usable and clean

GSP: Global Shipping Programme. An eBay fulfilment system, which allows sellers to deliver to international buyers without added expenses

Gumtree: An online platform primarily for buying and selling products and services locally

Haggle: To attempt to negotiate for a better price on a purchase

HMRC: Her Majesty’s Revenue and Customs.

Home clearance: When large quantities of goods are removed from a property

Insertion fee: Cost to list an item on eBay

January sales: Retail sales event following Christmas, which used to be more prominent, until Boxing Day sale replaced its prominence

Job lot: A collection of products (usually of the same type) that are sold together as a bulk listing

Jumble sale: A local second-hand sale event, often held at a school, community centre, town hall or church

Keepa: Amazon price tracker, able to show changes over long periods of time

Lego: Value-retaining collectible stackable brick toy with worth by the kilo

Like new: Amazon and eBay product condition, which suggests the item is opened, but shows no sign of use

Limited company. Incorporated, privately-run company, headed by director(s)

Liquidation stock: Stock acquired from a liquidated business

List: To put a product on a marketplace

Local collection: To collect a product in person, rather than having it delivered

Lot: The contents of a single listing, which may contain a single item or several

Marketplace Sellers: Amazon sellers who aren’t selling through the FBA programme

Media: DVDs, Blu-rays, VHSs, video games, floppy discs and CDs

Negative feedback / neg: When a buyer or seller is dissatisfied with the transaction, and shares this with users of the platform

Net profit: The money remaining, after expenditure has been deducted

Net: Short for ‘net profit', which is the monetary return after expenses have been deducted

New in box: eBay product condition, which suggests the item is brand new and in the box it was sold in

New with defects: Amazon and eBay product condition, which suggests the item is unused, but may have minor defects

New with tags: eBay product condition, which suggests the item (usually clothing or an accessory) is unused and has its original retail tagging

New: Amazon and eBay product condition, which suggests the item is unopened, unused and undamaged

Not as described: When an item is returned for not fitting the description it was listed as

OA: Online arbitrage. To find and sell products with an imbalance in their value on one online marketplace, compared to another

Online arbitrage: To take advantage of price differences of a product on one website, compared to another

Outlet / outlet store: Retail store (or online version) that sells out-of-season, sample, overstocked and/or defective products at a reduced rate

Outlet mall / village: A location where a range of brands have outlet stores, in which they sell out-of-season, sample, overstocked and/or defective products at a reduced rate

Overstock: Excess quantities of stock

P&P: Postage and packaging. Preparing and sending a delivery

Passive income: Money earned with minimal active participation, following initial time and/or monetary investment

Paying up: Spending more than desired for a resale item

PayPal: Popular payment gateway, previously owned by eBay, protecting buyers and sellers

Pickups: Purchases made for reselling

PL: Private label. Repackaged (often wholesale) goods, sold under new branding

Positive feedback: When a buyer or seller is satisfied with the transaction, and shares this with users of the platform

Postage: The delivery process

PowerSeller: Highly rated, high product turnover eBay seller

Pre-owned: An item that has been used, and is second-hand

Prep centre: A company which receives, prepares and sends products to be resold via Amazon’s FBA programme

Prime Day: Amazon’s annual one-day sale event in mid-July

Prime: Amazon’s Prime service, which allows customers to get next day delivery in the UK, and same-day delivery in select cities

Private label: Products manufactured by a particular company, and are repackaged under a new brand

Profit Bandit: An alternative to the AmazonSeller app

Promo code: A promotional code from a retailer that reduces the price of a purchase

Q1: The first quarter of the year, 1st January to 30th March

Q2: The first quarter of the year, 1st April to 30th June

Q3: The first quarter of the year, 1st July to 30th September

Q4: The fourth quarter of the year, 1st October to 31st December, when sales of giftable products increase significantly

Quarter: A three-month period of the year

RA: Retail arbitrage. To find and sell products with an imbalance in their value in one retail store, compared to its value elsewhere

Recommerce: To source and resell second-hand products in bulk

Reduced: Price deducted from its original retail value

Refund: When a buyer receives money back for their purchase, often in exchange for the product being returned

Relist: To place a product back on a marketplace, after it runs the course of its original listing

Repricer: Software that automatically alters the sale price of your listings to be competitive with other marketplace sellers, often on Amazon and eBay

Reserve: The minimal value that an auction listing can be sold for

Resolution Centre: eBay’s dispute resolution hub

Retail arbitrage: To take advantage of the high street price of a product being lower than its online value, perhaps on a specific marketplace

Returns: When an item is returned to the seller, potentially because it isn’t as described, it is faulty, or the buyer simply isn’t satisfied with their purchase

Review: An evaluation of the quality of an item or transaction

ROI: Return on investment. Net profit, once the cost price and fees have been deducted

RRP: Recommended retail price. The standard retail price for a product, as originally recommended by its manufacturer

Sales Rank: The comparative sales a product within its Amazon category (or categories) in a certain time frame

Scan: To use a barcode scanner to check the value of a product on Amazon, and potentially any competition on the listing

School fete: Community sale event, often held at schools, for the public to buy and sell (mostly) second-hand products

Seasonal: Something that is time-sensitive, possible influenced by weather, calendar events associated with particular times of the year

Second Chance Offer: An eBay option to offer an auction-sold item to the second-highest bidder, after the sale

Second-hand: An item that has been used previously

Self-assessment: Income tax evaluation

Self-employed: Working for yourself or owning your own business

Sell Similar: eBay option enabling sellers to create a listing based on the template settings of another

Seller Central: The hub for selling products on Amazon

Send it in to Amazon/FBA: To ship a box of items (or several) to Amazon, to sell as part of their FBA programme

Set: A collection of products, which may have originally been sold together, or they fall under the same brand, category or theme

Shoot for: To aim to sell the item for a particular price

Shpock: A relatively new online platform primarily geared towards local buying and selling

Signed-for: A postage option that ensures that the delivery is signed for at its delivery destination

SKU: A product’s unique ID number, assigned by the seller

Snipe: To use a service which automates eBay bidding, usually in the closing seconds of an auction listing

Sold listings: An eBay search filter that shows lots that resulted in a sale

Sole trader: Self-employed individual business owner, rather than that of a incorporated company

Sourcing: To find products to resell

Spares and repairs: A product that may be heavily damaged, but its parts can be salvaged by a buyer

Sponsored Products: Products which are promoted via ads on Amazon, when viewing search listings, or similar items

Surplus: Excess stock

Suspension: When the privileges of a seller or buyer account are restricted

Table top sale: Similar to a boot sale, as a place to buy and sell second-hand products locally, but is usually indoors

Tracked: A deliver that can be traced from the point it is dispatched, until it is ultimately delivered

Treasure hunting: Sourcing second-hand products to resell

Units: Quantity of a product for sale, or sold

Unpaid item: When a buyer fails to pay, after winning an eBay auction

Used: An item that is second-hand, and has been previously used

UTR: Unique Tax Reference.10-digit individual tax reference number for an individual or company

VA: Virtual assistant. An assistant who works remotely for

VAT: Value added tax. A standard 20% tax on many goods, which must be paid once a business hits the £82,000 (limited company) or £83,000 (sole trader) turnover threshold

Very good: Amazon and eBay product condition, which suggests the item is opened, but shows no sign of use

VGC: Very good condition. Product condition suggesting the item is open, but has no visible signs of use

Vintage: An old, usually second-hand, product which isn’t old enough to qualify as ‘Antique’

Vinted: An online marketplace for buying and selling (mainly) second-hand clothes

Virtual assistant: Remote-working outsourced assistant

Voucher code: A discount code to use on an online retail site, reducing the basket’s total price

Watch: To track an ebay listing, without obligation to purchase

Watcher: A person tracking the progression of an ebay listing

Well worn: Description used for clothing on eBay, Depop, and elsewhere, indicating that the product has been worn heavily, and may have wear and tear

Wholesale: Bulk quantities of an item

Worn once: Description used for clothing on eBay, Depop, and elsewhere, indicating that the product was worn once, or little enough to show no signs of wear and tear