Nov 15, 2009

Learn To Make Money On eBay



by: Jeff Schuman
So you want to sell stuff on eBay, but you have two minor problems: you don't know how and you don't have stuff. Not a problem. Keep reading for some tips to get you pointed in the right direction to learn to make money on eBay. 
 
Before you begin you’ll need some basic equipment: Computer, Internet access, digital camera, and some space to put your stuff. That’s really all you’ll need to get started. You’ll also need shipping and packing supplies but that is addressed later. 
 
Next you’ll need to learn how to list auctions. Go to the eBay sellers overview:
http://pages.ebay.com/education/sellingtips/index.html. This will be your lifeline. There is a plethora of information there on everything you always wanted to know and more. 
 
Don’t be overwhelmed; just take it one step at a time. You’ll see there is information on listings, on bidding, on photos, on feedback – it’s all there. 
 
Next you’ll need to figure out what to sell. Before you zero in on a particular niche you need some experience and some feedback. Buyers are generally leery of buying from someone who is brand new and has a feedback rating of less than 10 evaluations. 
 
While you are getting your feet wet, look around your own house first. You’d be amazed at what people buy. You could list outgrown clothing, magazines, candle holders, CD, books, flannel sheets, recipes, the ugly old lamp that was Aunt Mildred’s, all those goofy Christmas gifts sitting in your basement, that old baby gate with a stain on it. Get the idea? You never know what someone will want. 
 
Although you need experience, you don’t want to list something that isn’t likely to sell. Do your research first before you invest the time in putting together a listing. An easy method to use is do a “search” on eBay, then look up COMPLETED ITEMS, then sort by HIGHEST price. Then you’ll see if your Tommy Bahama shirt is really worth anything. Or you’ll see that your old baseball cards had 23 listings and not one of them sold. 
 
Pricing is another challenge. Again, you’ll need to do your research. See what they’re going for. Don’t have overly high expectations. You know how you feel when you go to a garage sale and you see a pair of jeans for $15 or books for $4 each. Many people come to eBay to look for a bargain. Consider how much you have into the item. If you have an item from around the house, you may consider that something is better than nothing, so you may be inclined to start the bidding quite low. 
 
If you bought it with the specific intention to resell, you will, at the very minimum, want to break even, so take the price you paid for it and consider other costs, i.e. listing fees, final value fees (all explained in your lifeline – eBay seller overview above). People are much more apt to bid if the bidding starts LOW.

Sometimes though, you will have collectibles that are worth a chunk of money. Don’t give away that vintage postcard that is worth $56! Do your homework. 
 
The next big question is how do you get paid? You determine what you would accept. Online payments such as PayPal (paypal.com) are very convenient. You can also decide that you’ll accept money orders or personal checks. The more options you leave your buyers, the more likelihood you’ll get more bids. 
 
You also need to decide how you want to ship your items to the winners. Many sellers use USPS, others prefer UPS. If you use USPS and ship via Priority Mail, you can get your envelopes and boxes free from USPS. If you ship First Class or Parcel Post or UPS, you’ll have to shop around for deals on boxes or envelopes and bubble wrap or packing peanuts. 
 
Overwhelmed yet? Yes there is a lot to learn, but it’s not nuclear science. Just take it one step at a time. It’s a learning process. Some yahoo groups (or MSN or AOL, or whatever your preference) are great sources for support and camaraderie with others who are doing the same. 
 
So in summary, if you want to just “start pushing buttons” and learn to make money on eBay on your own, YOU CAN DO IT. If you do better chatting with others, those resources are available too. Use what is available. 
 
About the author:
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