Way No 10 - Resell Items On eBay
What is eBay?
eBay is the most popular website to buy and sell goods on the internet.
It’s a place where individuals and businesses can buy or sell new or second-hand items, from books and clothes to cars to almost anything.
Here's how eBay works:
A seller lists an item on eBay, almost anything from antiques to mobile phones, books to sporting goods.
The seller chooses whether to sell the item at a fixed price or accept only bids (auction-type listing).
In an auction-type listing, the bidding opens at a price the seller specifies and remains on eBay for a certain number of days.
Buyers then place bids on the item. When the listing ends, the buyer with the highest bid wins.
In a fixed price listing, the first buyer willing to pay the seller's price gets the item.
Suitable For -
People who are self-motivated and know how to spread the word – to friends, family members, acquaintances and strangers using online or offline mediums.
Skills Required -
Some experience of selling goods online or offline is welcome, along with a business savvy mind.
Time Required To Start Selling On eBay -
To start selling you first need an eBay account and a PayPal account.
After that, you need to enlist your product for which you’ll need upload some product pictures and write an appealing description.
Even if you are a beginner you can do all the above tasks within a day or two.
Tips -
1. If you are completely new to eBay and your account does not have any feedback, then getting some feedback before starting to sell anything is a good practice.
People are very wary of buying anything online nowadays, so if your account has 0 feedback then no one’s is going to buy anything from you.
It’s recommended that you should get at least 10-15 feedbacks before selling anything.
The simplest way to get feedbacks is to buy 10-15 $0.99 items with free shipping.
Many sellers leave positive feedback to you straight way when you’ll make payment.
2. Start small - Most of the eBay resellers buy a bulk wholesale stock of any particular product then sell it on eBay at a retail price.
If you don’t have money to buy a wholesale stock then find out unwanted items present in your house which are in good condition and make a list of them.
3. Research - Now as you have a list of few ready to sell items you must ensure that there is a market for them.
Take 10 minutes to Google your item and uncover its true market value on eBay and another bunch of e-commerce sites.
This will help you to sell right items more competitively because you’ll have the knowledge of your item’s market and its pricing strategies.
Also, dig out relevant targeted keywords which will help people to find your items via Google search engine.
4. Craft the title - Title is the single most important factor for grabbing the attention of your potential buyer.
Make sure your title is appealing, complete and you’ve included targeted keywords.
You don’t have to be a tech wizard for this. Just ask yourself, what would a potential buyer for this item type into the search box?
5. Write item’s description - Fill out all the fields in your listing, and make sure your textual description is providing all the information that your potential buyer might look for.
Most of the lazy sellers ignore this and fail badly at selling anything on eBay.
6. Upload item’s pictures - Upload only high-quality pictures. Ensure that item’s pictures are new, clear (not blurry) and cover the product from all angles.
Also, don’t restrict yourselves to 2-3 pictures upload at least 6 pictures.
7. Timing - Most of the expert sellers use 10 day listing starting on Thursday, you should use it too, it will give you two full weekends of eyeballs. You’ll usually receive the highest traffic on weekends.”
How To Monetize -
Monetization is very simple. More people place orders with you more money you make.
Your item quality and delivery influence your user feedback which directly affects your order placement.
So make sure you are delivering items with good quality.
eBay handles all your transactions securely, so you don’t need to worry about any payment processing issues.
Once you are in a profit making stage, buy your most selling products in bulk on a wholesale price and the sell them on retail price to increase your profits.
Rinse and repeat.