eBay is one of the top online marketplaces, boasting 135 million users worldwide. It doesn’t matter if you’re shopping or using it to earn some additional money by selling unwanted stuff.
There are a few things to think about in setting a solid foundation for your future income before you start constructing your eBay empire. Even if you don’t want to build a real eBay empire, a little forethought will go a long way in helping you save time, reduce stress, and perhaps even save money.
Below are some useful things you need to know and consider before selling on eBay.
1. Know The Best Things To Sell On eBay
It’s critical that you take some time to consider whether the item you’re selling is in the appropriate condition before listing it on eBay.
It’s possible that you’re excited to start making money with everything you can get your hands on. You run the danger of earning unfavorable feedback, which will make it harder for you to sell more items on eBay, if you sell items that aren’t in good condition or are missing crucial components.
If you’re attempting to pick what to sell on eBay, use the “Marketplace Research” feature to find out what the most sought-after things are. Look at the items receiving the most attention to see which are drawing the most interest and offers. By doing this, you can obtain a feel of what products are in demand.
Consider selling a pair of sunglasses in the midst of winter when few people are likely to bid on them; instead, store them safely till then. If you can wait till they’re more in demand, there’s a good chance you’ll make a lot more money on them.
2. Research eBay’s Fees
You must first determine the exact value of an item and the cost of selling it before you can start earning money on eBay. Obviously, you want to turn a nice profit, but selling on eBay has some added expenses that you should be aware of.
Ecal is a clever tool that determines how much you’ll pay for each sale depending on the price you advertise it for and the final selling price. To find out how much money you’ll make, try running your product through this.
3. Start Bids Low To Catch The Attention Of Buyers
Although it may be appealing to set the price of your listings high at first, starting your bids at 99p (or something similar) should result in a better sale over time.
As the item’s last day of bidding approaches, a low opening offer will attract more prospective buyers and foster a vigorous bidding war.
Keep in mind that this advice does not apply to really specialized products; if it’s something that only a fervent collector would be looking for, don’t set the opening price too low as you’re less likely to receive many bids on these items.
If you’re concerned about obtaining a bad deal, you may always establish a minimum price (the reserve), meaning the item won’t be sold unless it reaches this minimal amount needed.
4. Sell In Cycles
You’ll probably discover when you conduct your market study that demand peaks and valleys may affect sales in your chosen sector. Think about rotating your goods and planning your store around the seasonal ups and downs, holidays, and special occasions like graduations or the Super Bowl. In your store in May or June, a product that doesn’t do well in November or December can be the top seller.
5. Take Good Photos Of The Items You’re Selling
An eBay user is much more likely to continue bidding if they are confident they can see an accurate representation of what is being offered. A photograph of the item you’re selling adds the most credibility.
Include any other parts of the item you’re advertising in the photo, such as boxes, manuals, batteries, and anything else you mentioned in the description.
It’s not necessary to have a fancy camera to perform this well, but using focusing and the macro mode, if yours has one, will help you get great close-up images.
Getting crystal-clear, high-quality photographs requires natural lighting. However, providing a little extra light (like a desk lamp) can have a significant impact if you’re in a dark environment. Just be careful not to step in any shadows.
Also keep in mind that you are permitted to upload 12 photographs for free at once to a listing.
6. Never Do Shill Bidding On eBay
Shill bidding is when you place a bid on an item not because you want to buy it, but rather to raise its price, improve its search rating, or make it appear more desirable. You should never allow your friends or family to bid on your auctions because this is unlawful.
Systems are in place to detect this and stop it from occurring on the site. Check out eBay’s shill bidding policy for more information. They have incredibly clear rules on it, so if you’re at all unsure about it, the information on their website can help you feel more at ease.
7. Always Get Proof Of Postage When Selling On eBay
Send each item you sell via recorded delivery, or at the very least, obtain proof of postage. In particular, because there are eBay buyer scammers out there who cause difficulties by reporting to eBay that products haven’t been received even though they have been delivered.
Simply make sure to have proof on available in case you need to defend your position.
8. Launch Auctions During eBay’s Peak Times
Be sure to consider the opening bid period when submitting your item.
The best time to end any auction is typically Sunday night. It has been observed that the bulk of casual buyers tend to browse during this period, thus this is when the auctions really pick up.
Therefore, advertise it on a Thursday evening to enhance your exposure to potential buyers if you’re going for the maximum 10-day auction, which is always the best option since it raises the possibilities of collecting more bids.
As was already indicated, consider the optimum season to list a themed or seasonal product on eBay if you’re selling it.
As people begin looking for costumes for Halloween parties online at the beginning of October, for instance, this would be the ideal time to start advertising any fancy dress pieces you have.