[tweetmeme] I've recently discovered that many people I know do not sell items on eBay. Many of my friends and colleagues purchase items on eBay, but most have never sold. I've even gone so far as to start listing items for people for a set fee. The idea that people are not delving into eBay baffles my mind and has prompted me to stray from my regular blog topics. Everyone has money sitting around their homes and garages just waiting to be cashed in and eBay is where you collect on these items. I'll lightly cover three scenarios that will help everyone make money from home buy selling items on eBay. How much money and how committed to the process is ultimately up to each individual.
I mentioned above that everyone has money sitting around their homes. What I mean by this is that people have items they never use and never deal with, that could be sold for profit on eBay. This first strategy is not designed to allow you quit your job, only help you clean up on items that you'll never use. I even sell broken items on eBay, all the time actually. I always list the items honestly and accurately, but the fact of the matter is one man's trash is another man's treasure. Find items around your home that you suspect may be worth selling, that old clock, maybe the designer coffee maker you were given as a gift, unused tools, you get the idea. Look these items up on eBay and actually add them to your watch list. After you watch a few items and take note of their closing price, you'll have an idea of what your item should sell for. This is when you start listing your items. Be sure to take into consideration how much the listing is going to cost, how much PayPal is going to take and how much the item will cost to ship.
Selling items around your home is a great way to get started with making money on eBay. The next step is to start keeping your eyes open for items you know will sell and make you money. In order to do this you need to keep tabs on trends, both old and new items. There may be a niche item that is common to your geographic area, but not so common elsewhere. Many people buy items like this or in same cases make items and sell for a great profit. If you have a hobby such as playing an instrument, start learning the value of older models. I do this with guitars from time to time, I’ve purchased guitars at pawn shops and local swap and sell ads only to turn around and sell them for more than twice as much. I think of this as my hobby, I enjoy playing them, cleaning them up and turning them over for a profit. It’s important to know what you’ll be able to sell these items for before you buy! If you’re not sure, hold off, hit eBay and add some of the same items to your watch list. Be sure you’re comparing apple to apples when doing this.
Ok, assuming you’re ready to hit the big time you can start looking at becoming a drop shipper. You’ll need to figure out what you want to sell and find a wholesale supplier to purchase your product from. Be careful, watch to see how many people are selling the same item on eBay. If eBay is saturated with the items you are thinking about selling, think twice about it. Chances are you may not get pricing that will allow you to compete with more established drop shippers. A clue to this may be if everyone is selling the same item with only a small difference in price (pennies even). All of these people are competing and have a very small profit margin after considering shipping costs, PayPal and Ebay fees. Another concern of drop shippers is when they list items on eBay and their supplier sells out of the item. This will lead to poor feedback as buyers will expect reasonable ship times and the seller won’t be able to deliver. So, do your homework before signing up or coughing up your credit card or PayPal info. Check out some of the free drop ship suppliers listed in the ads on this page. There are several forums about this subject a quick search will reveal some real horror stories about wholesalers. Good luck, have fun and enjoy your new found wealth. Whether you’re looking for gas money or to make your mortgage payments it can be done with eBay.