How to Earn Money on Ebay

During times of economic strain, many folks are in search of ways to pay their bills now- and sock away cash for the inevitable rainy day. Ebay is a great way to make fast money, start up your own online business, or it can be used as a test audience for merchandise you create yourself.

Difficulty: Moderate

Instructions

Things You'll Need:

• A local Goodwill, Salvation Army or thrift store.
• Packing materials specifically for use in Ebay auctions can be obtained for FREE through USPS
• A PayPal account- it's FREE to sign up, and more secure than using a credit card or giving out personal info to strangers
• A digital camera to take pictures
• A tape measure

1. 
   A popular item!

   Decide what you would like to sell. You can go on ebay.com and see what kind of hot items and trendy designer labels are out there. It's a particularly good idea to check out current trends on Myspace or Facebook. Figure out what everyone is talking about- and buy things related to it. For instance- the movie "Twilight" is a phenomenal hit with teens and women alike. Keep that in mind as you move on to the next step.

2. 
   Electronics sell well!

   Go to your local thrift store or charity shop. When you first walk in, head to the clothing racks first. In the men's section, look for sports team jerseys in good condition. For example, an MLS LA Galaxy shirt with David Beckham's name and squad number is consistently a higher priced item. In the women's section, check out the labels of the clothing, and always pick high end labels. Make sure everything is in good condition. If you wouldn't wear it- don't sell it! Next, take a trip to the electronics section. Old video game systems are turning into collector's items and they can usually be obtained for less than 10 dollars- but they'll sell for much more online!

3. Show it all off. Once you have a few things to sell, either from your own home, handmade, or bought for very little money- clean the items and take digital photos of EVERYTHING. If you discover a small stain on that Calvin Klein dress- take a close up photo of it. You don't want to be accused of hiding a fault by a disgruntled customer! It's also a good idea to measure everything as well. Buyers will often as for that kind of information.

4. Write your Ebay desciption. Often times, it's best to save the schmoozing, and simply list the item with a simple description giving ALL of the item's information you can find plus as many pictures as you can provide. If a buyer can SEE the actual product- they will feel more comfortable bidding a bit more to win the auction. Use KEYWORDS in your item's title, and be sure to check your spelling!! Nothing says "professionalism" to a buyer like excellent spelling and grammar.

5. After the description, you will need to set your auction's starting price. I suggest looking at similar items being sold, and keep within that range. Be realistic, and think like a buyer when you're selling. Just before holidays, you can go a bit higher- as people get desperate for those last minute gifts, but don't go crazy. Cheating customers is dishonest first, and bad business second. Also, keep your shipping costs realistic as well. People know that it doesn't cost 50 dollars to ship an ipod, so don't try to get away with it.

6. Set your auction length. For clothing and collectibles, 5 to 7 day auctions are ideal. You can be sure you're getting the maximum amount of bids that way- especially if it's a very unique item. For hot items everyone is clamoring for, or electronics, a 1 to 3 day auction could work for you.

7. Sit back and relax. Let the bids come rolling in!! You can also cross promote your items with sites like Auctiva. It's also a good idea to use the ebay widgets on Facebook and blog sites to alert your friends to the cool items you have for sale.

8. You've sold an item, now what to do? Firstly, make sure you have both a Return Policy, and a Payment Policy in place. I suggest only allowing buyers to pay with Paypal and they must pay within 3 days of the auction closing. That way, you aren't stuck with an item for weeks, waiting for someone to pay you. A good Return Policy involves a full refund if returned in original condition within 10 to 30 days of purchase.

9. Ship your item. USPS allows you to print labels online, and the post office workers will just pick the packages up from your home. Be sure to specify in your shipping policy how long it will take you to ship the items. 10 business days can usually give you enough time to prepare.

Tips & Warnings

• I suggest signing up for a FREE site like Auctiva.com. It will manage all of your auctions at once and also provide FREE templates for the auctions. It's like setting up an Ebay Store, without having to pay the fees!
• When it comes to designer items, be sure the items are GENUINE before selling them, and review Ebay's very strict reselling policy with regard to designer items.

Resources

• Auctiva
• USPS
• PayPal

[JulieMayfield]

on 12/1/2008 This is a great overview of selling on eBay!