eBay has been known to be the auction house of all websites, where both buyers and sellers come together to negotiate a fair price that comes to satisfy both. eBay is undoubtedly one of the great ways on the web to look for great bargains as well as a place to make money. They offer seller protection, display reasonable seller options, and allows buyers to bid on the prices they want. Overall, this creates a nice buyers atmosphere where both buyers and sellers win.
So how do you make money on eBay?
Making money on eBay is a fairly simple process. You open an account. Set the starting bid for the product you want to sell and you hit auction. Sounds easy right? But it isn’t as simple as it may seem. Be warned there are going to be a lot of enticing websites you are going to run into, and knowing which sites are legitimate and which are not, can save you a lot of trouble.
Why eBay?
Lets step back for a second and talk about why exactly eBay is the place to sell and not someplace else. In simple words, eBay has a lot of buyers and sellers flowing through out the website. What you are paying for, every time you list a new product to sell on eBay, is exposure. Think of eBay like a referrer. Without them, your product gets no exposure which means no sales. Whenever you make a sale, eBay gets an extra cut and you get the rest of the money. It is a win/win situation where both you and eBay makes a nice chunk of money.
1.) Finding that Perfect Product to Sell
The 1. step when selling on eBay is to find that perfect product to sell. Whatever product you decide to sell will define the overall success of your selling campaign. Maybe back 3 years ago, picking any product was fine because there wasn’t much competition, but now that there are more educated marketers on board, it is now very important to essentially pick that perfect product to sell that has both of these qualities. Has little to no competition and is profitable and in demand. That is why research and a little bit of testing is key to discovering and understanding your marketing success with eBay. Find a trend and find a trustworthy supplier, then stick with your market and start to expand from there. Decided to sell shoes? Good, now find a reasonable supplier and build from there. Maybe once you become a reputable seller, you can maybe even expand to more flexible markets like clothes. Less competition means more exposure and more exposure means more money in your eyes.
Some great tools to research popular trends and to help you first pick out that perfect product to sell are listed below:
2.) Finding a Trustworthy Supplier
Once you have done your research and have analyzed how much competition there is, your 2. step is the most hardest step of them all if you are serious about being a reputable seller on eBay. And that is, finding a trustworthy supplier. A reason why finding a trustworthy supplier is probably going to be your most hardest mission of them all when selling on eBay, is because no reseller on eBay is going to spill their secret. It may take days of research and hours of calling, maybe even visits, however, this is a phase most eBay sellers must go through to ensure a mutual partnership with a new supplier. If you are serious about selling on eBay, this is a process you must undergo. One thing to note is that most trustworthy suppliers you find online, aren’t very good at making themselves noticeable in the search engines so it is very important to negotiate and talk to different suppliers to find clues that lead to the actual supplier to cut out the middleman. The closer you are to the actual supplier, the more money you will make when you make a sale.
3.) Some Quick eBay Tips
These are just some common techniques incorporated in eBay that are widely accepted in the community to attract great results.
- Set a low starting bid.
- Pay for the inclusion of a picture. (this will help a lot!)
- Have a well written description of the product you are selling on the condition of the product and etc.
- Experiment with the markets. Make test runs before finding a supplier 100%.
- Keep your feedback score as close to 100% as possible.
- Give timely replies.
- Keep your promises.
An example of a good eBay listing
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