Have You Tried eBay before?

from Jenni Hunt 

A few days ago, I received a question from a mom who had tried selling on eBay for 5 months and only lost money because of all the fees associated with eBay and Paypal. She wants to know how I have managed to build my business with all the fees… unfortunately, I get this question a lot. Many have tried eBay and given up because they weren’t profitable… here are some thoughts on this issue…

There are a few ways to build a business with eBay. You can sell for profit… and/or you can USE eBay to send traffic to your other businesses. I’ll be discussing both of these options over the next few weeks – but, first I would like to share 3 tips for listing auctions for the highest profit.

1. Watch your inventory costs

As a mom, you have access to free inventory! Your kids closets! Even if the items you have are not in demand on eBay, you can trade up at consignment stores for items that will sell for a nice profit. If you poke around eBay for a bit you will start noticing trends and learn the brands and items that are selling for the most (ie., Hanna Andersson, Baby Gap, Air Jordan, Tommy Hilfiger, etc.)… these are the brands to trade up to at consignment shops.

I look for items that I can make at least $10 profit on. To do this, I only pick up items that I can turn around for $15-20+ on ebay. That may not sound like much – but, considering that it takes me about 10 minutes to get an item listed… at $10 a listing – that is $50-60 an hour!

2. Don’t pay eBay more than you have to

eBay charges for everything… they will nickel and dime you to death if you aren’t careful. One of the biggest way to throw away your profits is to post all of your pictures on eBay – many sellers don’t realize that you don’t have to do this. I don’t even know what eBay charges for this anymore… last I had checked, they were charging 10 cents for every image that you posted for your listing (after the first free picture). If you have 5 pictures for every item, you are throwing away 40 cents on every listing. That may not sound like much, but it can add up very quickly! There are many places you can host images for free – check out your ISP, do a google search, or even pay for an auction management service like www.sellersourcebook.com where image hosting is included in your monthly fee.

3. List like items at the same time

You can increase your bids by listing like items at the same time. For example, if you are selling size 3 clothing – list is all during the same week… then announce on your listings that you have more of the same size in other listings. To learn more about how to do this effectively, check out my free ecourse, The Magic Window of Opportunity Hiding On Ebay at www.jennihunt.com.

There really is so much that goes into listing successful auctions – these tips will get you started… but, if you have any questions, please feel free to ask away!

Happy eBaying!

Jenni

Share and Enjoy:
  • Facebook
  • StumbleUpon
  • Twitter
  • Yahoo! Buzz
  • MySpace

Related posts:

Comments are closed.