How to Lose Money On E-Bay

If you plan on selling items on e-bay and you are new like I was be prepared to lose money because of shipping costs and the economy. I will give you insights on how not to lose money.

Difficulty: Easy

Instructions

Things You'll Need:

• Items to sale
• Patients

1. How to lose money on E-bay. The only items that I have tried to sale on e-bay have been my vinyl records that I have had for over 35 years.
   
   #1 First mistake. I used the price in the shipping format to quote the price of shipping which for one record is $ 4.00. Actual shipping cost in the US is around $ 7.00.

2. #2 Sold records for .99 cents. I was hoping people would bid on my records. All my records are in fine or better condition and are of the 60's and early 70's. worth more than .99 cents. No bids ever over .99 cents.

3. #3 When I set a set price to try to get at least five dollars per record I did not get one bid.
   When I relisted I was charged relisted item fee. Another loss.

4. #4 When I grouped my records such as 3-4 record sets and tried to get bids going I got .99 cents and the shipping on e-bay quoted $7.00. Shipping cost me $12.00. Another lost.

5. #4 When I finely got a little smart, I started to request insurance on the records at $ 1.75 and a higher shipping charge of $10.35.
   I put the records out for bid at .99 cents and once again bidders waited until one minute left before they bid .99 cents to get my record.
   
   I made a profit of $ 2.00. After insertion fees and a fee for the sale of my record and going to the post office I maybe made .50 cents.
   
   If you want to lose money with the economy I believe that e-bay is the way to go.

Tips & Warnings

• Have something to sell that is a hot item and anyone will buy it even in a bad economy.
• Price your shipping charge as much as e-bay will allow.
• Because a record got broken on shipping I required insurance. You may want request that all buyers pay for insurance.
• My experience may not resemble yours.

[tboyd4084]

on 10/7/2009 good one... thanks

[rainlysa]

on 8/22/2009 Been there, done that but don't give up. During the holidays is the best time to sell on e-bay, that's when the bidding is better. Great article, sounds like when I started on ebay. 5* & rec.

[blakeurban]

on 8/20/2009 Sounds like you would have better luck having a garage sale. This article makes me chuckle, but I understand your frustration with ebay.

[chefofhearts]

on 8/13/2009 I agree with you and e bay is some time a good thing depending on what your selling. five star.. thanks for sharing

[stlscientist]

on 8/7/2009 This reminds me of the saying... If at first you don't succeed, try, try again. I would say this didn't work well for you. Maybe you should have stopped at mistake #2 and cut you losses. Serously, I think we all have put items on eBay that were worth more to us than to others and were disappointed in the outcome. Thanks for sharing your experience though. 5*'s