How to use eBay to make money
Ebay's 90 million users spent more than £13 billion on the site in 2009. While Ebay takes commission on each sale, most of this money stayed with the people selling and auctioning goods on the site. Most users use eEbay to sell unwanted possessions, but thousands of people make a living as sellers on Ebay. Some successful sellers find a niche they are knowledgeable about while others concentrate on selling items that are in high demand.
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Instructions
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Register and open a seller’s account on the Ebay website. You will need to verify your identity by providing your credit or debit card details. Open a Paypal account at the same time as Paypal is the most convenient transaction method on Ebay.
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List your unwanted possessions on Ebay to get a feel for how the site works. Send any sold items promptly in order to build up your feedback score. Positive feedback is important on Ebay as people feel more confident buying from sellers who have received positive reviews from other buyers.
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Use Ebay’s advanced search tools to look through completed sales and auctions on the website. This allows you to find items that are selling regularly and compare prices. Look at the descriptions of items that have sold to learn how sellers are attracting attention to their merchandise. Well titled and described items sell much better on Ebay than basic listings.
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Research further using Ebay's Pulse feature. This shows you the most popular keyword searches in every product category and the most watched items. The Home Business Center website has an excellent list of other research tools on the Ebay website that allow you to research items that are selling well.
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List items on Ebay that you have to pay for only once they have sold. This is called drop shipping. It reduces risk as you don't have to spend any money on inventory to begin selling. Carefully research any wholesaler you choose to work with to make sure they are not just middlemen. Join a drop shipping community such as the Powerseller's Union to access lists of reliable wholesalers who allow drop shipping on Ebay.
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Specialize in selling items that you understand and know the value of. For example, if you love fashion, search for items of clothing in local charity shops and car boot sales. Making money on Ebay is a question of buying items cheaply and reselling them at higher prices.
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Tips & Warnings
Buy a high-quality digital camera and include a good photograph of every item you list on Ebay.
Bear in mind the cost of shipping when choosing items to sell. High postage costs will put off buyers and eat into your profits.
References
- Photo Credit shopping online image by Photosani from Fotolia.com
