Most people I know use Ebay regularly to buy and sell everything from Plants to Plasmas TV’s. The phenomena has grown to astronomical proportions and is now one of the most popular home based businesses. It appears to be an obviously easy business to run, which makes it an attractive prospect. The sad thing is it doesn’t always work out. People get caught up with the fun of Ebay and forget that they should actually be making a profit, not just scraping through. Here are some of my tips on how to sell on Ebay to make a profit.
Different selling strategies
Ebay sellers have hundreds of different selling strategies that they use to gain the most profit possible. Here are two of my own.
Sell for a fast turnover in large volumes gaining less profit per item. I don’t particularly like this way as it means a lot of work. The more you sell, the more stock you need to carry, the more you have to post, and so on. There are also benefits to selling this way. You make money fast if you also combine lower prices and short duration auctions with this method. And if you have a huge quantity of an identical item you can list a Dutch auction, and save on listing fees.
Sell in smaller volumes gaining more profit per item. With this method you don’t have to hold as much stock, and if you are patient you usually get the money you want for an item. As long as you have prices that are reasonable and your product is good. I list the auction with a high enough starting price that will make me happy with the sale. Then I also have a Buy it Now option for the impatient buyer.
I have tried both of these strategies and would definitely prefer the later. Of course you will have to make up your own selling strategy that suits the product you are selling. You should experiment with the format, duration and starting price of your items for sale.