eBay is the foremost online marketplace. Providing access to the entire world in one website, you have the potential for unlimited sales of your items or services. But don’t think that selling on eBay is any easier than selling anywhere else. Make the most of your time on eBay and maximize your profit by following these five tips.
Just about everyone has tried selling one thing or another on eBay. The ones who have made a big profit include those selling vehicles or even real estate. This gives a new meaning to selling “everything but the kitchen sink”, but even those are sold on eBay. So, you are probably wondering – how do they do it? What would it take to get yourself started selling on eBay? Here are five tips to help you get started making a profit on eBay.
1 – First do your market research. Just about everything has been sold on eBay, but not everything you attempt to sell is guaranteed to make you money. Take a look at auction results – try the completed auction listings. Some products sell in cycles. What may be popular today, may not be popular this time next year. If you are creating a business with eBay sales, then you will want to bring in more money than you are putting out.
2 – Carefully set your prices. Again take a look at the completed auction listings, and check the auction results for similar items to what you are selling. You may be selling a laptop worth $300, but if laptops from the same manufacturing year are selling for $250 – you won’t want to price yours at $280 to be competitive.
3 – Spend time on your descriptions. Even though there are hundreds of thousands of potential buyers on eBay, they are still going to be skeptical of scanty details. Leaving out pertinent information about your item or product can turn off potential buyers. If they think you could possibly be hiding something, then they will be reluctant to bid on or buy from you.
4 – Read all of eBay’s policies. The last thing you want to encounter is a problem with the law. eBay has policies put in place to protect both the buyer AND the seller. Not complying could lead to being sanctioned on the site. Ignorance is not an excuse. Everything you need to know is located on eBay’s website in an easy-to-read format for all users.
5 – Determine all aspects of selling before creating your listing. Many people have forgotten to be specific about their payment methods and shipping. We all know how that can turn out. There are guidelines for disputing with non-paying auction winners, but it best to avoid using them. The same goes for shipping. If it costs you more for shipping than you anticipated, you won’t make any money. I suggest using eBay’s shipping estimates, they are fairly accurate.
Use these five tips to help you get started today. Check out the rest of the blog for other great tips and information to help you out on eBay.