How to 10 Steps to making $500 a day on EBAY – Step two of 10

So you want to know how to make good money on EBay? I and my friends have been very successful on EBay for over 5 years. The short of it is drop shipping is not the answer! If you sell the same things that everyone else does and get them from the same resource, then the profit margins are just not there. I will share with you 10 sure fire ways to make real money by finding the items CHEAP and making big profits! Here is step 2 of 10.

Difficulty: Moderately Easy

Instructions

1. 

   Bidding at the liquidation sites. Your ability to bid and win and still stand a profit is “key” to your continued success on EBay. Let’s talk about liquidation.com first. There are 3 important elements you will need to understand about how to bid and be successful with this site; we’ll call them the 3 “C’s” – Category, Condition and Comparison. 1. Categories: There are 9 different categories of merchandise offered for sale at this site they are as follows: Clothing & Accessories, Jewelry & Watches, Computers & Networking, Tools & Machinery, Consumer Electronics, General Merchandise, House wares, Vehicles and Store Fixtures & Equipment. 2. Condition: There are 6 levels of item “condition” and they are: New, Used, Refurbished, returns, Shelf Pulls and Salvage.

2. Comparison: This is the most important element you will need to master in order to make money with the items you get from this site and the other site I referenced. Comparison is actually two parts; one part comparing items between the “conditions” and two comparing the items against your profit margin and total cost. Condition: Until you can really develop an ability to truly distinguish the differences between item condition, in other words really know if the item is “salvage” or “refurbished” and if the purchase of the item in either condition will yield the profit result you are looking to achieve, it is best to stick with a simple “no broken item bids” until you are ready. So, the items you want to bid on in the beginning are new, Used, refurbished and Shelf Pulls. Bidding on items in these conditions will almost guarantee that the items are in a re-sellable condition without having to repair or get returns from your buyers due to the item being broken or damaged.

3. Comparison 2: total cost versus profit margin. When comparing cost and profit, you will want to keep in mind that it cost money to list items for sale on Ebay. To calculate the listing fess you will need to refer to the help pages found at Ebay in order to see the actual associated fees. I can tell you that the fees are based on these criteria: insertion, listing, buy it now, additional listing fees IE; border, highlight featured auction etc., and final value fees. The other fees to consider are Pay Pal fees (about 3% of the sale) and Shipping/Handling costs. Once you can calculate an approximate cost based on the sale price of the item, you can then decide how much you are willing to spend in the bidding process. On to Article Step 3 – visit my profile.

Tips & Warnings

• Make sure your profit margin is at least %50
• research the items and see if they actually sell on Ebay! It does not matter if you got 10000 cell phone batteries for $1 if they are so old that no one can use it!

[grammastacie]

on 6/14/2009 thanks! most informative! 5* and recommend!

[SimplyCuttings]

on 1/6/2009 Great!