How I made 5000 dollars with UBid in less than 2 months
Written: Feb 22 '01
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The Bottom Line
If you're smart and you want to make money of the system, you can make plenty
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| Full Review |
We all know there is lot's of money to be made online. We also know that auction sites are there not for us to find good deals on products but rather to bring in money for themselves. The reason why ebay charges per auction, the reason Ubid deals in refurbished items. The cost of refurbished items is extremely low, so it's very easy for ubid to make money.
Keep in mind that over 60 percent of Ebay auctions are used products, with a user's stamp of approval; not the approval of a profit organization. The standard therefore with Ubid auction is higher as their reputation is on the line.
HOW TO MAKE THE MONEY:
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Every day, hundreds of auction close at Ubid at a price one can find neither on ebay or even retail cost. It is very important to research every product you bid on; check prices on Ebay, check how much they closed for, and check for it's popularity on Ubid. Very often you'll find a product that closes for 100's of dollars less than the respective auctions on Ebay. Buy that item, pay the insane shipping costs and put it on ebay and make yourself a nice profit.
TIPS ON HOW TO FIND THE GOOD DEALS ON UBID:
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1. Look for auctions closing on strange hours in the night
2. Look for auctions that repeat themselves many times; often times the item loses popularity as many already have it from previous auctions.
3. Don't bid on anything that isn't at least 100 dollars below what they go for on ebay; this way you have a greater margin for shipping costs, and failed ebay auctions.
TIPS ON HOW TO GET THE MOST MONEY FROM YOUR AUCTIONS ON EBAY:
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1. Post your auction at a time when you're respective item has the least other auctions; this way you're item will generate more interest as there is less competition
2. Put many pictures on your auction; don't copy the manufacturer's website, but use original pictures of the product that's actually for sale.
3. Don't give a reason for selling, but give a story on the experiences you had with the product.
4. Set a reserve that will guarantee a minimum profit of 20 dollars; if the auction goes below the reserve you can always try again.
GENERAL TIPS:
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1. The most important is the research, know the product and read the rules
2. Be responsive to your buyers
3. Send product promptly
4. Do not enter items on ebay until you have received and checked the item from ubid
5. Stick with electronics, you'll find the best deals, and you'll sell it for the most.
6. Keep track of everything you do; better even create a database or a chart in your word processor program
7. Follow the trends of your must succesful auctions.
ETHICS:
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Many people probably think that this method is corrupt. Believe it or not; anyone who tries to sell product on ebay is trying to make a profit. Remember both Ebay, and Ubid are making money from what you're doing. Yes, you might be ripping of the buyer on ebay, but anyone who does enough research in a product will find the same deals you have. It's a matter of buyer's intelligence. Seventy percent of all electronic purchases are impulse purchases; all of these purchase are technically speaking a ripoff, because the product is worth much less than what people buy it for. Also, 90 percent of the time the people buying your ubid product on ebay generally still save hundreds compared to what they have spent at general retail stores.
MY RECORD:
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I started this process January 03, 2001
Average income per item: $93.24
Items bought on ubid and sold on ebay: 53
Total amount spent: $13,250
Total amount received: $18,191
Total amount gained: $4,941.72
Items sold in January: 12
Items sold in February: 41
Items in process: 73 (items not received from ubid, not sold on ebay, haven't received money for etc....)
Projected income at end of the month for the month of February: (41*93)+(73*93)= (3,813)+(6,789) = 10,602
Projected yearly income: 10,000 * 12 = 120,000
Need I say more
GOOD LUCK
Recommended:
Yes
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About the Author
Member: Wouter Reyniers
Location: Bradenton
Reviews written: 15
Trusted by: 10 members
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