Making Money with eBay PART I

Can I sell anything on eBay?

You’ve probably heard about how much money can be made on eBay. With dreams of quick riches and easy money, you are probably ready to jump in with both feet – right now! The best thing you can do if you are serious about making money with eBay, however, is to slow down. In fact, just stop for a minute. Don’t rush straight in. Take your time, and do it right. eBay has over 100 million members. Think about that number for just a minute or two. When you get your eBay business set up, that is how big your customer base will be – instantly.100 million people - 100 million people who are just waiting for youto get set up and running so that they can throw money at you! Well, not quite. It is true that there are over 100 million members, but at this point, they don’t know that you exist. In fact, no matter how well you do on eBay, most of them will never know that you exist. 100 million is a very large number.

The most successful eBay sellers started out as buyers – and you should too. This will give you a sense of how everything works. It will also show you how things are from the buyer’s side of the fence. Let’s call this period of time ‘consumer research.’ You are literally studying how eBay works, from a customer’s point of view. You may not realize this, but this eBay buyer experience will actually make you a much better seller – right from the very start. 

Really pay attention to the customer service you receive from the buyer. Think about how you want to be treated as a buyer, and take notes. Take your time during this process. Interact with the sellers. Get involved in hot auctions to see what they are like. In your spare time, start making notes about the hot items that you see. These notes will come in handy later.

eBay works just like any other business. You have to determine what people want to buy before you can hope to be successful. There are very specific items that tell really well on eBay – you just have to figure out what those items are. There are many resources for finding out this information. Start with the lessons that eBay offers to their sellers. Strongly consider attending the eBay University as well. This is the next step in the process. After you have had the eBay buyer experience, it is time to learn how to be an eBay seller.

You have your business set up, your name chosen; you’re signed up and registered. Now what do you need to be making money on Ebay?

When you first start out making money on Ebay you need to decide on a product that you would like to sell. It is suggested that you start by choosing one type of product. This will allow you to become an expert with them so you can advertise and sell them effectively. You will want to expand your product line as you become more effective in online marketing.You can try different selling and advertising methods until you find what works the best for your particular product or products.

You will want to limit the number of items you place on auctions. The goal for making money on Ebay is to sell your items at the highest possible price. If you are selling several of the same things at the same time, it will be much harder to get a high price for them.

Finding quality and unique items to sell for making money on Ebay can be difficult as ebay gets more popular. Some sources are Estate attorneys who get requests from families to help dispose of the deceased items. Taking an ad out in your local paper and offer to take on consignment to sell could be a very good source of items and products. You will want to charge a small upfront fee and or a percentage of the sale. By pursuing this avenue to gain products and items be sure and check your state and local laws to be sure you do not need to have a auctioneers license.

You may also find items from other Ebay sellers who have bought items in bulk or by the lot. They may have items they choose not to sell. If you make other sellers aware you may buy excess items of a certain product, you may have another source of changing items or products.

A couple of important points to remember as you’re attempting to make money on Ebay. Make sure you sell only legitimate items. If you are selling illegal or counterfeit items, and the real manufacturer or another Ebay seller or buyer reported you Ebay would cancel all your auctions. Do not allow friends, relatives, or even be tempted yourself to bid against other bidders on your auctions in an attempt to drive up the price. This practice is known as shilling and is illegal. Not only will Ebays fraud department shut you down. In some states the attorney general will bring criminal charges against you with the help of Ebay.

To help you make money on Ebay you may want to promote your auctions. You can do this with a personal web page just to promote you Ebay sales. You can also run a online store with links going back to your auctions. This will give you a more professional appearance on the Internet and helps your customers a better idea of who you are. Finally a very good way to assist in your quest to make money on Ebay is build a mailing list. Send out email to your subscribers on a regular basis and promote your current auctions.

Currently there are approximately 430,000 people who are making money on Ebay. This is because it is a efficient and low cost way to reach 45 million people. You can see there are many ways to for making money on Ebay. It is not a get rich overnight excursion. Do not be fooled into buying guides that claim instant success. Many of these are just bought e-books or some are actually copy write protected articles reproduced without authors consent. Do you homework, expect to have some expenses, make a plan and follow it then you to will be making money on Ebay.