How to Make Money with eBay
By Chris Chenoweth
If you don't have a website, one of the easiest and most profitable ways to make money online is with eBay. It is the largest online auction site, drawing millions of people every day. It is the first place most people check out when they are looking for items, both new and used.
You can sell almost anything on eBay from small inexpensive 99-cent items to cars, boats, real estate, and everything in between. By placing your item on eBay, you are placing it in front of millions of prospective buyers.
I started out on eBay as a seller by trying to get rid of leftover items from a garage sale. I listed some books, some clothes, and some toys. I made a very small profit on the toys, a reasonable profit on the clothes, and a very nice profit on the books. I was hooked!
From that day forward, my goal was to make money on eBay by finding as many "goodies" as possible to sell. I had always loved garage sales but now going "saling" took on a whole new meaning. I was on a mission.
I armed myself with as much knowledge as I could find by using eBay tools to search out certain items and what they sold for. I also learned how to determine the value of those items by a lot of trial and error. I only worked with items that I was reasonably familiar with and felt comfortable trying to sell.
Once I felt confident enough to start my eBay selling, I started scouring garage and yard sales, estate sales, and local auctions. I also used my local classifieds. Bargain hunting took on a whole new meaning for me.
The more knowledgeable I became, the easier it was for me to find great bargains. I learned how to know if an item had profit potential just by looking at it. I was amazed at what some people considered "junk" and the prices they sold for. (And remember, most people can be "haggled" with to get the price even lower.)
My most successful items (remember, I just chose a few that I was comfortable with) were items I bought at estate sales like textiles and old tools. "Old stuff" sells quite well on eBay if the item's condition is very good. If the condition is not so good, make sure you are honest about that in your ad. You will still get bids.
I would not recommend attempting to sell items you know nothing about. If there are certain items you would like to sell, make sure you acquire as much information about them as possible. You should know what the item sells for and how much it is really worth. You do not want to lose money; you want to make money!
Once you are ready to start selling, learn about eBay's rules and guidelines for selling. When you click on the word "sell" on the main eBay site, a page comes up that contains many resources and tools for sellers. Make sure you read them as they will increase your chances of being successful at selling on eBay.
Now you are ready to sell. Your ad is the most important piece of the selling game on eBay. The text and graphics in your ad will have a huge effect on the price you can get for your items. The better your pictures and description are, the better your price will be.
You will need to decide how long you want your auction to run. There are 3-day auctions and 7-day auctions. As a rule, the 7-day auctions are good because it gives people a longer time to bid up your items. Of course, the items you are selling sometimes dictate which type of auctions you should use. Make sure you check to see which type of auctions similar items sell for.
You can also choose to include a "buy it now" button. This button allows buyers to purchase your item instantly at whatever price you set. Before you use this option, make sure you are comfortable with the price you are setting and make sure the "buy it now" price is not too low.
How do you make money on eBay? Do your homework, find your items, list your items, and wait for the bidding to begin! It IS possible to make money on eBay!
About the Author
Chris Chenoweth, author of the DO-IT-YOURSELF HOME HEALTH & MONEY GUIDE, writes articles pertaining to diet and nutrition, health issues, budgeting, and work at home tips: http://mysiteinc.com/djtrevayne/guide.html
Read the real life story of a housewife who makes thousands of dollars a month on eBay!
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