"SOLD!" Cha ching!!!
Written: Apr 10 '01 (Updated Apr 10 '01)
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The Bottom Line
Find out what people want, and sell those items to them. If done right, you'll churn a profit!
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| Full Review |
First, a little background on myself with Ebay, I started selling on Ebay for fun. Most of the items where "garage sale" items like old stereo speakers, cameras, cables, etc... As I sold stuff, I realized that I could make some good money with the Ebay system. The auction format really leverages the seller, (as long as there isn't too much competition) because Ebay's wide acceptance and reputation bring an aggregate of buyers to the Ebay community. Shoppers (bargain hunter's) love to shop and see what available for the taking.
Let me give you a real world example...
Imagine, you put an item such as stereo speakers up for auction. I paid $360.00(new) for them and sold them for $487.00(used) after owning them for 6 years. Ebay allows you to reach millions of online buyers worldwide. The magic of bidding begins when you have 2 (or more) individuals dueling over your item. Depending on how rare or in demand your particular item is, you can expect to sell it easily. I've done this personally with home stereo speakers and other items on more than one occasion. (heck, more than a few!) To be totally honest...LOTS!
I am at a point now, where I'am buying items from wholesale sources and reselling them for profit. The trick is to pay close attention to Ebay's listing fees, know what items sell on Ebay, have a quick system of payment in place, have multiple payment options and try for speedy service. ('cause even though you can find almost anything for sale on Ebay, the reality is not everything is needed or wanted by buyers) A great rule of thumb is to looks at the auction placed by the Ebayer's who sell the highest volume of goods. Look at their auctions (but don't copy their ad word for word) the titles, the use of pictures, etc...
and mimic their success. Try to hold "no reserve" auctions. (saving you another half dollar) This communicates to the buyer that you're willing to move stock even if your profit quota isn't reached. A very good move by the seller. Also, if possible, set a minimum bid of no more than $9.99 (even of the item is worth well beyond that) The listing fee is only 30 cents, otherwise you're paying an extra 25 cents more. This formula I have in place works for me. However, use caution, as these rules are not set in stone. They depend greatly upon the demand for your particular product. I also recommend you look at auctions that have already ended recently, you can get (an average) selling price for that product. Make sure there are enough buyers and not too many sellers. That's all I'll say about that. Sorry, I can't get more specific on being successful seller on Ebay, as I don't need more competition.
And to conclude...Well if you play your cards right, you can earn cash in your pocket on each transaction that's completed.
Recommended:
Yes
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About the Author
Member: Frank Chen
Location: Burbank, California
Reviews written: 18
Trusted by: 14 members
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