The eBay explosion has hit astronomical proportions. Over 11 million people did a search for eBay last month alone on the internet. From all walks of life, everyone is drawn to eBay. Some people use eBay as a hobby to make extra cash. Some people have quit their jobs and are making their living off eBay. On a monthly basis, the phenomenon of eBay continues to expand and grow.
Naturally, the best advice is to start selling part time on eBay so that you can learn the tricks and secrets. It will take some time to learn the inside secrets that the top sellers know. It can be a great way to make extra cash. eBay will take some work and is not a get rich quick scheme. However, if you take your time and do research, you could make extra income for yourself and your family. After you start to make money on a consistent basis, you might consider doing eBay as your full time job.
For your eBay business, all you need is internet access and a product to sell. Many people start off selling old or odd items from their homes. Others are going to garage sales and picking up great deals and then selling these products on eBay. You can find almost anything on eBay. You are only restricted by your own imagination.
Here is a little tip: Other’s people junk can be your gold mine! That old Barbie doll up in the attic or in the basement could be a gold mine and bring in a huge profit. For example, it is reported that the Collectibles Category is the top selling category on eBay. An old barbie doll, old red wagon, and old clock are only a few examples of items in the Collectibles Category.
Here are the top 10 selling secrets on eBay:
1. Do your research!
Make sure there is a need for the item that you are selling. Do a search for your item and see how many items are found for your keyword search. Examine each auction and see the bid amount and number of bids. Follow a number of auctions for several days and see what the final bid is. This will give you an excellent idea if there is a need for your item. It will also help you estimate the amount of profit you can make from the auction. If you don t find your item, it might not be worth your time listing that item. Try to find an item that people truly want. After you start making money with eBay, you can always go back and list that original product.
2. Find the right category for your item!
If you are selling a collectible, please make sure that you list it in the collectible category. If you are listing a toy or hobby, please make sure that you list it in the Toy and Hobbies Category. This could make it easier for people to find your item. Do your homework? Search for your item and see what categories other sellers listed the same item in.
3. Keywords and descriptions are critical!
Use the appropriate keywords to describe your product. If you are selling a Barbie Doll, specify the type of doll it is: 1980 Holiday Barbie Doll. If you are selling a model train, specify the type: HO Santa Fe Caboose. Your descriptions are critical to avoid any future problems or potential returns. Honesty is the best policy. If there is a chip, crack or dent, specify this in the description. This could save you a lot of aggravation later on. If a buyer truly wants your item, a crack or chip won’t stop them from bidding on your item.
4. Always post a photo with your auction!
Auctions with photos sell much better than ones that don’t have pictures. Try to take a picture of the actual item that you are selling. Many Ebay sellers will use stock photos or photos from the internet. This is a turn off and raises a question in the buyers mind. People can tell it is not the original item and this could hurt your bids. Show the buyer that you are honest and have nothing to hide. If you put a picture of the actual item, it builds more trust between you and the buyer. In my case, I have bypassed auctions with stock photos. If you don’t have a digital camera, you can always purchase a disposable camera. When you take the camera in to be processed, tell them that you would like to have the photos placed on a CD.
5. Make the Buying process Easy! Sign up for PayPal!
You want to make your auction easy for the buyer. PayPal is becoming very popular and many buyers prefer to pay with their PayPal accounts. The easier you make your auction, the better it is. In addition, you don t have to worry about bad checks or money orders. It is a safer payment method for both the buyer and seller.
6. List your items during “Hot Time” buying Periods!
Time your auction so that it ends during peak buying times. If you live in the Eastern Time Zone, list your auction between 9 pm-11 pm, Central Time Zone list between 8-10 pm, Mountain Time Zone between 7-9 pm, and for the Pacific Time Zone list between 6-8 pm. Thus, this will give you the biggest exposure at the end of your auction. If your auction ends at 2 in the morning, there won t be to many people placing a bid. The debate is out as to what day your auction should end on. Some sellers report that Tuesday, Wednesday and Thursday are best. Other sellers report that Saturday and Sunday are best. Try experimenting with this to see what works best for your auctions.
7. Create an “About Me” Page on eBay or another Free Website Page!
An “About Me” page can be critical to your success. It gives you chance to let the potential buyer know about you and your products. You can also get a free webpage from many companies in which you can promote yourself and your eBay auctions.
8. Feedback is Critical!
An eBay buyer looks at the feedback ratings. A negative feedback rating can ruin your chances of being successful. After your auction is over, please follow up with your buyer. Send them an email or call them if you have their phone number. Make sure that they are happy with their purchase. This is also important with your description. If you weren’t honest with your description, the buyer might be very disappointed and give you a negative rating. Ensure that your buyers are happy!!!
9. Excessive Postage costs can prevent bids!
Be reasonable with your shipping costs. Calculate the costs ahead of time and only charge the buyer a reasonable amount. It is not worth trying to make a couple extra dollars off the buyer because it will scare many people off. Charge the buyer the actual cost of shipping and state this in your auction so that there are no secrets. Be honest and the buyer will appreciate this.
10. Reserve Prices and Buy-it-Now can scare away potential buyers!
Buyers can be scared off by Reserve Prices and Buy-it-Now. In addition, Reserve Prices can limit your final auction price. Buy-it-Now shows that you have a certain limit to sell the product at. This is an auction! Let the buyers keep bidding at your products. If they feel they are getting a deal, they will place a bid.
You can be very successful on eBay but you need patience and you need to do your homework.
Have fun with eBay!
Recommended Books on Selling on eBay:
- eBay Unleashed: A Beginners Guide To Selling On eBay
- eBay 101: Selling on eBay For Part-time or Full-time Income
- eBay 2014: Why You’re Not Selling Anything on eBay, and What You Can Do About It
- eBay PowerSeller Secrets: Insider Tips from eBay’s Most Successful Sellers (2nd Edition) (v. 2)
- The eBay Seller’s Tax and Legal Answer Book: Everything You Need to Know to Keep the Government Off Your Back and Out of Your Wallet
Category: Online Auctions