This is an interesting write up that came across my desk. I love that the entrepreneurial spirit still lives on!
From a fellow Get Rich Click member:
At my High School in suburban Colorado we had a Belgian exchange student by the name of Benji, he was and is one hell of a guy. Very smart and very observant. I visited him in Belgium back in 2007 and stayed at his parent’s house. I noticed that he had his eBay account opened up on his computer. At the time I was quite the little eBay salesman myself so I asked what products he was moving. Benji cracked a smile and described to me his DIY drop shipping model. He was selling on eBay Belgium Chinese MP3 players, the knock-off ipod variety at the rate of about 4 or 5 a day, I forget what he was charging but it was something in the neighborhood of 30 Euros. Having done a bit of Chinese electronics importing myself I asked him who his supplier was and what the minimum order quantity was, he then told me his great trade secret. Benji had noticed that the price of “almost ipods” on Hong Kong ebay was way less than they were in his country, so he began listing these Chinese products without ever having bought them! As soon as one sold on his account he would quickly get onto eBay Hong Kong and purchase the product and have it shipped to his buyer in Belgium! He never touched a product, but was making money hand over fist, just because he kept his eyes open and noticed price inequities in the global auction market!