Making Money on eBay - 10 Tips How to Start
Are you looking to make money on eBay, whether that be a small amount of extra income on the side or a reasonable income stream? Here are a few ideas to help you find a way of making money through auctions.
The key is to have products where there is a demand, know where that demand is and meet it!
- Firstly, the easiest one, sort through everything that you have and you don't want and sell it! If you are not sure whether it will sell on eBay or how much it will make then just search through the listings.
This is the easiest way to start on eBay, especially if you have not sold any products on eBay before. - For items that you are selling, make sure that you check the postage cost before you put it up for auction.
If the postage cost is more than the item is likely to be worth then you might be better using a local classified ad. - Once you have exhausted all of your unwanted items there are a number of ways to pick up other items to sell on eBay.
You can go to car boot sales, jumbles sales, second hand and thrift stores and pick up items to sell there.
However, you really need to know a bit more about your market if you do it this way and find out what items are selling for before you buy them so that you know you can make a profit. - Search through the eBay listings by category to find items that have not got a good title or description.
A lot of people will just use the search function to find items that they are looking for and so you may well be able to find some bargains if for example, someone has spelt the name of the item wrong or not put in a full description.
You may then be able to get hold of items at a rock bottom price and relist them in a better advert. - It's pretty fundamental but make sure that you add an image to your listing so buyers can see what they are getting.
Be as thorough as possible in your description of what is included.
If for example your item comes with a charger but you don't actually say that, the viewer may think you have omitted it because it doesn't have one.
Don't just assume. - Try and find a niche market that is open to some more competition so that you are not getting involved in a saturated market where you may not make so many sales.
- Have a look at the "Want it Now" section in eBay and see if you can provide and products that meet the demands in this section.
- If you are serious of finding a market to get into then perhaps get hold of some software that uses the eBay API to analyse the items on eBay.
This could give you a good idea for a buoyant niche market. - Be prepared for seasonal demand of items for example have some products ready to go for Christmas, Mothers Day, Fathers Day etc and describe them as such.
- Always be honest with your listings to build good feedback and buyer loyalty.
The key is to have products where there is a demand, know where that demand is and meet it!