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Pretty much, yes, although the margins would be incredible on some things, and not so great on others. Example: From Goodwill Auctions, I got a lot like this one, except it was for about 50 PS1 discs. Most of the games were trash, but there were enough singles and a couple of legitimate home runs - rarer RPGs - that I spent around $100 winning the auction, and then netted about $400, once I accounted for the cost of shipping and eBay's cut. That was probably my best yield, outside of things like finding NES games for $5 or less at a yard sale. (Even pretty generic NES games nowadays can fetch $10 to $40, depending on box and manual status.)That's what I'm looking for... more of a fun hobby. So for every 10 you spent you got $12 back? Am I reading that correctly?
I've sold 924 items since joining in 2012 for a grand total of $45,562.73. A good half of that is profit.
My best buy was a lot of about 120 old military patches. For $140, I sold upwards of $2,000 worth of those patches. My second-best (or maybe my best) was this pre-war bottle key made in Germany that had an alligator for the handle; paid $4, sold for $145.
Of course, I've lost my ass on some stuff, too. But not very damn often.