As an eBay Powerseller, I have had a fair amount of experience selling on eBay. One thing I can tell you for certain- it can be quite a ride! Most of my customers (but unfortunately not all) have been extremely pleasant and honest to work with. That in and of itself makes the eBay experience well worth the time and effort you put in to it. I have met, virtually speaking, some very nice people and have had some wonderful conversations with an interesting variety of people from around the world. If you are looking for an opportunity to interact with some fascinating people, then selling on eBay may be well worth your time.
That being said, there have been many, many articles written about how to sell on eBay and how to make great amounts of money. The possibility does exist but it may not be as simple as some would suggest. You cannot just go to a wholesaler and buy a pallet load of dollar store or overstock items, resell them on eBay and expect to make a lot of money. It just won't happen. First of all, it is very difficult to locate wholesalers with quality, name brand items who will be willing to work with you. Secondly, if you purchase off brand or slightly defective items, you won't be able to sell them at a profit.
Now don't be completely discouraged because there are things you can do to make money on eBay. There definitely are people who do. I will let you in on a couple of selling secrets. One, you need to sell name brand items,. People often search for items on eBay by the name brand and that is what they are most willing to buy. Second, don't sell extremely low priced items. If you are selling an item that you can get $20 for and you paid $10 that may seem like a good profit. However, once you deduct eBay fees, PayPal fees, possible auction management fees, and your time, your profit is next to nothing. Then consider how many of these items you would have to sell and ship in order to make a decent amount of money. Yikes! The trick to solving this problem is to find a niche in higher cost items that you are able to purchase at lower prices and leave yourself a considerable profit margin. You will need to do a bit of research to determine what your niche should be but this is an important step in developing your eBay business. We will discuss some ways to do research in future articles, but for now consider the areas you have the greatest interest or knowledge in as a starting point.
Finally, if you are going to sell on eBay as a business, make it a true business. Take it seriously and set up your business structure and your bookkeeping as you would any other business. You can find more information on this topic on our website, Inc to Wealth. Come back and check our future articles in this series for more information on the eBay experience.
Happy selling!
Karen Grant is CEO of Divine Finds, Inc. and has written the book "Incorporate Your Way to Wealth" which is included as part of the company's business start-up package for eBay and internet entrepreneurs. This package is currently available at http://www.inctowealth.com She has also developed several websites, the latest being http://www.FindMoreFacts.com an informational website for home decorating, remodeling, and organization and small business resources.
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