Anyone can figure out how to make money with eBay if all they’re after is a few dollars here and there. After all, it really isn’t all that complicated – list stuff you already own at below market prices, and wait for it to sell.
However, you’ve probably heard of some people who actually are able to make enough money from eBay sales that it becomes a full time business. Some even make hundreds of dollars in profit on a daily basis.
Knowing how to make money with eBay to this degree is really just a matter of following the right steps – which is what you’re about to discover, right here and right now!
Determine What Sells and What Doesn’t
Being a thriving marketplace, there are tons of listings on eBay that span numerous categories.
But of course – some things do sell better than others.
If you’re looking to find out what sort of products do sell well on eBay, you need to carry out some market research. In part, you could do this yourself based on observing different categories and seeing what is selling – but that won’t give you very much data.
Officially, eBay has teamed up with Terapeak to provide a comprehensive eBay Market Research Tool that you could use. The downside is that you’re going to have to pay a monthly fee to do so.
On the other hand, a great alternative is to simply refer to eBay Pulse to track hot trends on eBay. By letting you know what people are searching for and buying, this tool could provide you an excellent foundation to start off.
And yes – it is completely free.
Find Cheap Sources of Things to Sell
Needless to say, if you’re going to be selling on eBay you’re going to need to first have a supply of products at below market price. Generally, people go to eBay looking for bargains, and you’re not just going to be able to buy something off the shelf of some shop and sell it for a profit.
Locating products that are cheap can be done in many ways.
Some people go straight to manufacturers and buy in bulk. By doing so, they get products at prices that haven’t been marked up – and often get a discount for buying in large quantities too. If you like, you can even attempt to source products from overseas wholesalers who might have cheaper production costs.
Another way to do this is to use dropshippers – who will allow you to sell their products. Instead of you actually buying items and then reselling them on eBay, dropshippers allow you to pay after you’ve made a sale and pocket whatever profit you’ve made immediately.
In fact, they keep their own inventory and handle the shipping too, which relieves you of a considerable amount of work. That being said, if you do end up using a dropshipper you can bet that there are others out there using the same dropshipper and selling products on eBay as well.
This means that you’ll be directly competing against others with the exact same products from the exact same supplier who are paying the exact same price – and this sort of competition is notoriously difficult to come out on top of.
Alternatively, why not try to find second hand products that you can sell? You could frequent flea markets and yard sales in your local neighborhood and find merchandise you could sell on eBay for profit. You could also find free stuff in your local newspaper or even classified sites like craigslist and sell it.
Another option would be to go around your neighborhood and see if anyone has anything they’d like to sell on eBay. Agree to either pay them upfront or promise them a percentage of what the item eventually sells for (minus your commission that is).
Craft Quality Listings
All said and done, your listing on eBay is what is going to make all the difference. It is what’s going to grab people’s attention and get them to consider making a purchase.
Because space is limited in your title, it is often a bad idea to include tons of descriptors. Lay off words like ‘beautiful’ or ‘amazing’, and so on. Instead, focus on providing details such as the model number, full name of the product, and so on.
If you provide enough details, people searching for your specific product will be better able to find it!
In the full listing you’re going to want to focus on details too. Pictures speak a thousand words, and go towards showing that the item in question is in good quality, undamaged, and so on.
Be sure to include the full product specifications, if applicable.
Although you’re going to want to put in as many details as you can, you must be certain that you organize them properly so that anyone interested can easily find what they’re looking for. Don’t cram everything into as small a space as possible!
Build Up a Reputation
Over the long term, the real secret to making money with eBay is your reputation.
As you’ve probably noticed, eBay tracks the feedback that customers provide – and building up a high feedback rating is going to prove to be extremely advantageous.
In a nutshell, it will assure your customers that you’re a seller who delivers as promised, and doesn’t exaggerate or embellish the merchandise that you’re selling. Considering many buyers are wary of being ripped off on eBay – this is crucial and will really help you to reel in sales.
Since feedback is obtained on a ‘per sale’ basis, you should start off by listing numerous small and low priced items in an effort to boost your reputation. Once you have 100 positive responses in your feedback – you’ll find that your sales improve dramatically.
While there are other ways to boost the amount of money you can make on eBay, including featured listings, generating traffic and so on – these four steps are the cornerstones that will determine your success or failure.
So if you want to really make money with eBay, you need to master them.
As you can see, turning over a big profit on eBay isn’t as ‘easy’ as you might have thought it was. It is certainly possible to make cash from it, but you’re going to need to put in quite a bit of work.
If you’re willing to do so though, you could actually end up making a steady income in the long run.