eBay started in 1995 and has grown to a multinational company with operations in about 30 countries.
There is a ready stream of buyers. There are over 152 million active users on eBay, according to Statista.
Now that eBay has a mobile app, it’s easier than ever to buy and sell on ebay.
The best ways to make money on eBay is sell items on their site – but is it that easy?
You have to research and get up to speed with getting the most out of eBay and not missing any tricks.
Getting Started – Ways to make Money on eBay
1.You can start for free if you sell items you already own. Your expenses come after you’ve made a sale and been paid.
The website is so successful at helping sellers reach buyers, 40% of home businesses that sell online don’t have a website and instead use only eBay and/or Amazon.
But even with these advantages, it takes more than posting a few auctions to make a steady income from eBay.
Like any business, you need to research, plan and then implement and evaluate your plan. Here are my 9 tricks to getting started and the best ways to make money on eBay.
Tricks to Get you Started – 10 Tips
1.Sign up for a Free Account
If you know you want to build a business, use the eBay business account sign-up option. If you’re not sure if you want to commit to a business, and want to test drive eBay instead, use the regular eBay registration.
You should also sign up for a PayPal account, which will make it easy for buyers to pay you as soon as the item sales. It’s faster and safer than taking checks.
And since eBay owns PayPal, they’re integrated, so you can send a PayPal invoice through eBay to your buyer.
2.Decide What to Sell
There are plenty of different ways to find things to sell – maybe you have some unwanted clothing or a piece of old furniture? Or perhaps you found some items in your house that may be vintage and want to sell it for more.
Many are run as auctions, where you need to bid by indicating a price you’re willing to pay. You can set a max price, and eBay will submit your bids by increments for you until you hit the max price. Some sales are fixed prices, where buyers can “Buy Now.”
These don’t require bidding and the item can be bought right away as opposed to waiting until the auction ends.
3.Sell a few items – Get A Feel For eBay
Before you go all in, test out eBay by selling a few items. Pay attention to the listings that attract you, such as the photo, headline and price.
This will give you a sense of how the platform works, time to assess your offers, and begin to develop a system of listing, packaging and shipping.
Start by finding things around your home that you don’t want or want to sell and listing them.
Take quality photos and write detailed descriptions. Set an opening bid price to entice bidders.
Decide if you’ll offer a guarantee and the ability for the buyer to return the item if he’s not happy.
Also, outline your shipping policy, such as how it will be shipped, who pays and how much it will cost.
eBay offers a shipping calculator to help with this.
Check out other listings of a similar product to see how other sellers set up their listings. View other items on ebay and keep up your research.
4.Choose a Listing Style
There are three main ways to sell on eBay:
Auction style listings: With auctions, you put in a starting price and let people bid for your item until a set end time. You can place a ‘reserve’ price to stop items selling for less than you’re happy with, but for cheaper items this isn’t often worthwhile as eBay charges for this.
You can add a ‘Buy it now’ price and let people end the auction early by bidding a set amount for the item.
Fixed price listings: For fixed price listings you set the amount you want to advertise your item for. You also have the option to accept ‘best offers’ for lesser amount than your listing price.
Classified ads: Advertise on eBay just as you’d use a traditional classified ad. You state a price, the buyer contacts you, and you handle the transaction personally. If your item doesn’t sell you can relist it every 28 days.
Make sure that you list your item so it ends at the best time. It’s vital that your listing gets seen by as many people as possible.
5.Sending an Invoice through the eBay Interface
Some buyers will pay even before you invoice.
If not, you can send a PayPal invoice from within your eBay account. Once payment is made, pack up the item and ship it ASAP.
6.Give and Ask For Feedback.
Feedback is crucial to eBay success. If your buyer pays quickly, leave positive feedback through eBay’s feedback system.
Don’t forget to ask your buyer to give you feedback once they receive the item. Make sure that your item was delivered as described and arrives quickly to insure good feedback from your buyer.
After you’ve made a few sales, you should be able to decide if you’d like to build a full-fledged eBay business. If so, here’s how you can take your eBay sales to the next level.
7.Focus on a Niche Area
Eventually you’ll run out of items around your home, so you’ll need to find a new source of inventory. There are a couple of ways you can do this:
A.Home Items – based on what sold well in your home, you can find more sources of those items. Places to look are yard sales and thrift stores.
B.Bulk Items – people sell items in bulk that you can buy, break up and sell by piece.
C.Wholesaler: Another option is find products through a wholesaler. A wholesaler sells items to you in bulk that you will then sell and ship. Look online, Facebook, Google, Piniterest or Reddit for wholesale companies to buy off them in bulk.
D.Drop-Shipper: These companies sell products at discounted prices that you can then sell to make a profit. Drop shipping companies will handle the order and shipping, adding your business label for a fee.
you’re knowledgeable about.
8.Set up Your Business
If you plan to make regular, steady income from eBay, you need to set up an official home business, including getting a business name, obtaining a license required by your city or county, and developing a business plan.
9.Run your eBay Business Like a Business
Along with a steady stream of quality products, you need to provide great customer service, pack items well and ship them quickly, manage your inventory and keep track of your business finances.
10.Open an eBay Store
If you’re doing well, you may want to take advantage of eBay’s store option. Having a store provides many advantages over regular eBay selling including a custom online store, increased free listings, lower final value fees, marketing tools and more.
Other online Auctions – Get The Best Prices onLine
There are Over 95% of all online auction sales are on eBay. They have the largest number of registered buyers and items listed for sale.
An idea is to search around some of the smaller online auctions, because in many cases items listed with them will not attract such a good prices as could be achieved on eBay. Then all you have to do is buy from them and relist on eBay. Other sites are:
There are many successful sellers on eBay and you can be one of them. The Best Ways to Make Money on eBay – It will take effort but with the right knowledge you can make it a success.
Many eBayers focus on a specific product or type of product. Others follow trends, selling what’s popular, which requires a little bit of research.
Be careful about being swayed by get-rich-quick-on-eBay offers.
It’s always best to focus on items that you are comfortable with and know about.