Things You'll Need:
- Excel spreadsheet
- Paper for notes
- Pen
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Step 1
First, familiarize yourself with eBay auction fees. Once you know how much it is going to cost you to sell an item, you can determine how many times you are willing to relist your product if it doesn’t sell and still make a profit.
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Step 2
Create an excel spreadsheet or a write list that outlines the following:
1. Cost of the good sold (what it cost you the seller to purchase)
2. Determine how much you would like to make on your product
3. Determine the insertion fee for your item. This fee will be based on the type of auction you choose, the amount your bid will start at and quantity of item sold.
4. Calculate your final value fees from eBay
5. Calculate your PayPal fees if this is the method you will be using to collect payment for your goods -
Step 3
After your auction ends, if your item hasn’t sold, you can relist your item will little or no relisting fees. You will have to check eBay policies as to whether or not your item will qualify to relist at no charge. You will still usually have to pay a final value fee. Otherwise, continuous relisting can eat into your profits. So remember to be aware of the lowest profit amount you are willing to accept on a product, if it has to be relisted multiple times.
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Step 4
Another important step is to be aware of your mailing costs. Invest in a scale that can be purchased from the United States Post Office. They can be purchased relatively inexpensively and are worth the small investment. Undercharging for postage can really cut into your profits if not calculated properly.
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Step 5
Have a list of other outlets to sell your product, if it doesn’t seem to be selling on eBay. Or you can keep your products to sell during a different season. If you have an eBay store, you can rotate your auction products listing up to a month or more for extremely low prices.
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Step 6
When doing a ‘Buy it Now’ auction, take advantage of the ‘Best Offer’ option. This way, you will not lose potential buyers. Under the ‘Best Offer’ option, you also have the choice of automatically declining offers that are below a specific amount. You can also automatically accept offers.
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Step 7
Take advantage of sales that eBay offers to sellers. You will automatically get this information once you sign up for an account and you are on the mailing list.
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Step 8
Last, use the eBay generated sales reports to help you to determine your products selling trends. Basic reports are free. This will help you make many decisions about your products. Hopefully it will help you to continue to make money and not lose it selling on eBay.
