Online auction site eBay has been a major internet success story since it was founded in 1995. Today it has millions of users worldwide who use the site to both buy and sell products. Many businesses now use eBay as a primary selling location, demonstrating just how effective a money-making medium it has become. To start to earn money on eBay there are a few tips which should be followed to ensure the best returns on sales.
Everything can be sold on eBay auctions from cars and antiques to novelty items and broken electronics. Regardless of what you are selling, chances are somebody else will be selling a similar product. With this in mind it is worth thinking about whether eBay is the best sales venue. It does grant you access to lots of consumers, but there is also a lot of competition amongst sellers. For new people looking to make money selling upon eBay it is also important to be realistic about the price. Many people on eBay are looking for a bargain and will not pay top money for items. If you are worried about losing money on an item, set a reserve price, although this can also put off potential bidders.
The listing for any item is the most important aspect of selling online. The listing must look professional and answer all possible questions potential buyers might ask. Bidders can also send in questions so it is important to make sure these are responded to quickly and accurately. The more professional the listing, the more confidence potential buyers will have in the seller, thus are more likely to bid upon the item. The most important things to remember, in terms of the listing, are photographs, a detailed description and accurate postage and packaging estimates. Sellers can also enter a ‘buy it now’ option, allowing people to buy without bidding upon the item.
The more items a seller lists on eBay the better the reputation they receive, as long as buyers provide good feedback. The better the reputation of the seller, the more likely the auction will result in a profitable sale. Make sure all items are accurately listed and sent out promptly after purchase. This will give the seller the best possible chance of receiving good feedback.
As a company
Many companies are now eBay businesses, and sell almost exclusively through auctions. If it is the sellers plan to earn a living off eBay, it is important to remember to have an external website, as well as eBay, as eBay is not good for advertising purposes. If the plan is to sell unwanted items periodically, then this is not necessary.