Want to get rid of that old lampshade but don’t have space to set up a garage sale? Or just want to get into the buy and sell business?
Online auctions like eBay are the answer to your questions.
Millions have claimed that marketing in eBay has generated them income. You can start setting up your own auction to verify if their claims are true.
Listed below is a rough summary of ways on how you can make money eBay-ing your goods.
1. Decide what to sell
If you’re just starting, it’s advisable to sell small things first. Begin with whatever you find in your garage or attic that is no longer of use to you but still good enough to be sold.
If you already have a good grasp of eBay, you could start selling bigger things. Selling things related to your hobby increases your motivation and interest. Also, you would have more knowledge in what you’re selling.
2. Provide photos
A must. Chances are higher that you would pick a dish in the menu that has an image of what it looks like when served.
Our sight often helps us in perceiving the quality and condition of an object with just one look. It has a considerable impact on the decision of a buyer to purchase your goods.
To see is to believe. Do yourself and your buyers a favor and post photos of your goods.
3. Know the right price
Assess the value of your goods. Scan the market how much your item would sell.
You wouldn’t want to sell it for a price lower than its value. Overpricing won’t do you any good also. Also, if you’re just starting, avoid setting high initial bids.
Income will be bright, if the price is right.
4. Provide full descriptions
The power of words could lead to a successful purchase or a rotting item in the closet.
Give a ton of information about your item. List the strengths and also cons of what you are selling. Emphasize on the important aspects of your goods.
After all, the information you provide is where buyers will heavily depend on in considering your item.
Place yourself in the position of the buyer when writing descriptions. You want every bit of information there is to know about the item you’re buying.
5. Put crafty titles
Create auction titles that would get your product in the crosshairs of target buyers. Include keywords that a buyer might use in searching for your item.
6. See who’s buying
Be wary of buyers who have bad payment history. Luckily, eBay provides a way to give feedbacks and ratings to both buyers and sellers. Use this to gauge the credibility of your customer.
7. Look in other auctions
With eBay’s popularity, people forget the existence of other auction sites. Look for items in these sites and you might find some treasures being sold for lower prices.
Buy them. Then resell them in eBay.
8. Sell collections separately
Some items could be bought in sets. Selling these items separately would provide you more profit than selling them as a whole.
Let’s say you have a complete set of Avengers action figures. Instead of selling the whole set for a hefty amount, you could profit more by selling each member separately.
9. Stay ahead of trends
Be updated with recent trends and upcoming ones. If you have reliable information that an item will have high demands, start supplying that demand. Be the first to sell those products before the competition gets heavy.
Know how to stay ahead of the game.
10. Start on the right time
Run ten-day listings. Thursday afternoons and evenings are the best times to put up your auction as you will have two weekends to get more buyers.
11. Answer queries
Being more responsive to questions builds a kind of rapport between you and your potential buyers. Clarify any detail that is not clear to them.
Being amicable won’t do you any harm.
12. Offer quality service
Providing extra services would help you to establish better reputation.
Do follow-up with your buyer after the purchase and until he/she receives the item.
Package the item properly to avoid damaging the goods. Ship your products on time. If possible, deliver them yourself to establish more rapport with your client and encourage better feedbacks.
13. Patience is a virtue
Don’t expect that making money on eBay would be a breeze. Every business requires hard work and patience.
Waiting to sell your item at your ideal price could be frustrating. Be adaptive and tweak your selling strategies if patience is not enough.
14. Do your homework
This is where you capitalize – information. If you’re really serious in getting into this business, do a lot of research.
Demands vary, prices change, and trends today could be obsolete tomorrow. Fortunately, there are tools available online that could help you in your market research.
Understanding the market is one of the keys in becoming successful in the buy-and-sell market.
There are lots of ways to make money online and eBay has been one of the most successful options. Whether you want to have a part-time or full-time income, trying out eBay won’t hurt.