Monday, July 13, 2009

eBay Selling

eBay selling is also a very popular way to make money online, from a few extra dollars for some junk you have laying around, to a full blown home business, eBay seems to have a lot to offer.
For this discussion of course, we will focus on what needs to be done to start a full time eBay carrier.
There are several things you need to take into account when using eBay. For one thing, they charge for listings, if your item does not sell, you still have to pay them for having listed it. With the popularity of Craigslist however, eBay has loosened the reigns a bit when it comes to their fees, and now allows a certain number of free posts per month.
Starting your own online business through eBay is also time consuming, as you need to build a reputation as a trusted seller before you will be allowed to use all of eBay's most advanced selling tools.
Also, because eBay is so popular, many markets in it are already over saturated, and you could be undersold by someone who is already well established simply charging less than you possibly could. People who buy bulk items, wholesale, and drop ship often have rock bottom prices and would be very difficult to get sales away from, which of course I do not recommend at all.
The bast ways to make money on eBay are as follows.
Find something that you are into, something you really love (because you are going to be spending a LOT of time on it) and find a way to fit it into a niche market. There may be a hundred people selling comic books, but not so many selling signed ones. If you have comics, try going to comic cons to meet famous comic book artists and get them to sign your books, then put them on E-bay. I play guitar, and I have a small local Luther that does all my repairs and set ups for me, and he is very good, and quite cheap. Now there are a LOT of guitars on sale on eBay, however some of them are broken. The broken ones really are dirt cheap. So I buy a broken Gibson Les Paul guitar from eBay for $75, bring it to my local Luther, he fixes it for $50 dollars, I re list it on eBay for $400 starting bid, $400 is a steal for an old Les Paul, but it's a tidy prophet for me. And because it was repaired and the price is so low I get positive feedback. If I tried to charge $1000 for it, and it has been repaired, I would get negative feedback for overcharging, OR just no sale at all.
You have to know your market and have a product that somehow sets you apart from all the rest.

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