How To Make Money on eBay by Selling Things from Around the House
How do you make money on eBay?
Have you heard about some of the success stories about everyday individuals like you and me making a fortune off eBay?
It’s amazing that some online auction site can pay the bills and rent each month for many individuals out there but it is true…well to some extent actually.
The answer is obvious you sell merchandise. But it’s deeper then that. You need to know how to sell, when to sell, and where to sell. Okay the last part is already taken care of as you’ve have already selected eBay as your location, but the rest I still up in the air I assume.
People can make a lot of money on eBay, but it doesn’t happen overnight. eBay is a business like anything and most successful businessmen will testify that riches do not strike overnight!
When you decide to sell on eBay, I’m assuming you have already selected which product(s) you will sell? If you haven’t, then that is where you need to start. Start out by selling products you already own. Most people have a ton of junk lying around the house. By junk I don’t necessarily mean things that do not work or something you picked out of a garbage disposal but rather goods that are entirely usable but something you just do not use much anymore.
Take a quick tour around the house and make a list of everything you could sell. Break the page down into two columns. One column should list things you definitely want to sell and the other things you might sell.
After you complete the list, sit down and jot down a starting bid for each product. It may serve you well to do research on eBay, typing in the product in the search engine, and studying what other sellers are asking for the same or similar product. Remember you want to start with a fairly low opening bid to interest buyers and generate an active auction. Ask less then you want and if you go about it right, you’ll actually make more money.
I know this sounds strange, but it’s the truth. So you may ask “how do I go about it right?” First off, you need to take pictures of your product. If you do not own a digital camera then invest in one. Online buyers want to see photos of the product so they can gauge the condition of the product. Take four or five quality photos in a well-lit setting.
Accompany the excellent photos with an excellent product description. Make sure you state the brand, model, etc of the product as well as the condition of everything. If something does not work, make sure you mention it. Focus on all the positives first but make sure you never fool your buyer into buying something they actually are never going to get. Try to include some type of limited warranty or exchange on the product if the buyer is not satisfied.
Also, make sure you are precise and detailed on how you wish to get paid. If you only sell through pay pal, make sure you state that in the description. State a preference for how long you expect payment after the product is won by an individual buyer and always post a disclaimer that allows you to override any sales if you believe the buyer is a scammer.
The biggest key to making money on eBay is not the price! Get that through your head. Focus on the actual sale – the description, photos, and pricing information that specifically allows the potential buyer(s) to understand just exactly what they are getting for their investment.
photo by HamedSaber