To eBay or not to eBay? That is the question…so let’s try and unravel it for you with some eBay tips on selling on eBay
To eBay or not to eBay?
We have been contacted by several people, asking us about selling on eBay. We can speak with some authority on the subject, as we have been buying and selling on there for many years, both via our business, and private sales/purchases.
Here is a screenshot of our feedbacks – 100% positive. (The 50 positive that you see was for the last 6 months).
The surge of interest in eBay is borne out of two things.
First of all, people need extra money, in the current climate of uncertainty.
Secondly, when you are in lockdown and are living amongst all of your stuff, you quickly realize that you have lots of things that are gathering dust, which you could both clear out, and convert to cash.
It is very easy to use eBay.
If you don’t have an account simply go to eBay.co.uk and register for one. Set it up so it goes through Paypal, which is important.
Heres’ an official eBay video to show you how to get started and answer your question whether To eBay or not to eBay.
Okay, in practice, let’s say you want to sell an item on eBay.
In my opinion (and what has worked best for us) is that we use the Auction to sell our goods on. In other words, we list the item, take some photos with the smartphone (easy peasy these days) and put it up for auction for 99p starting price.
We also ensure that it goes in a 7-day auction, and ends on a Sunday at about 5 pm. You can list something then schedule the time it starts. So, if you want it to end on Sunday 27th May at 6 pm, you schedule it for 7 days, starting Sunday 20th May at 6 pm. It is that simple.
Don’t forget that you will need packing tape and boxes etc. to send your items out. So buy them on eBay, and get some good feedbacks under your belt for being a good eBayer.
How to Send Items Out
You can take them to the Post Office, or you can take them to drop off points which are usually small newsagents shops or convenience stores. However, if you don’t want to go out, then use the courier service by Hermes
They will collect it from your door. All you do is wrap up the package, print out the label, then leave it outside your door for the driver to collect. It is as simple as that.
If you have large items, try offering it for Collection only. I recently sold an electric bike which I obviously couldn’t send in the post, so I sold it on eBay, got the money for it via Paypal, then left it outside for the person to collect at the appointed time.
Here is another service that you could use if you have lots of small stuff to sell.
The service is called Stuff you Sell. They list all the bits and take a commission for their efforts.
If like me, you are lazy, it saves a ton of work! Check it out. I am currently getting a whole pile of stuff together – some smartphones, a couple of watches, a couple of gold half sovereigns, some Ray-Ban sunglasses, and so on. They are gathering dust, and although I don’t need the money, I would rather see them doing some good somewhere else.
Getting the eBay bug
eBay is an absolutely huge marketplace, for buying and selling literally anything from jewellery to furniture, cars, boats, and planes. And some people are making a full time living out of selling on there – indeed, some people have become millionaires from it.
If I needed to start all over again, or needed to make money, I would head straight for eBay to do it.
There are loads of ways to profit from it and get some sorely needed extra money.
First of all, start with your own stuff, to get the hang of selling, despatching, and dealing with queries, plus getting good feedback.
WHAT TO SELL
One of the best things for you to get involved in selling is whatever your passion is. It’s called a niche – so for example, if you love cooking, then you can get into selling cooking gadgets, recipe books, etc.
So where does everyone get their stuff from?
Basically, you advertise the goods on eBay, and when you get a sale, the company ships them out for you. So you haven’t got any upfront costs to have a potentially massive business! All you need is good organizational skills. If you like living in a mess, and suffer from stress, then don’t touch it with a bargepole. Dropshipping is a business and needs to be treated as such.
Check out The Wholesaler for dropshippers
Here’s a technique that some eBayers use to great success. (Again, it needs organization and good administration)
There are regular sellers on amazon, offering supplies of goods. Find one that has a lot of goods in stock, for example, someone selling car accessories. Check that they have a lot of an accessory in stock, i.e., steering wheel covers – 300 in stock, and free postage.
What these eBayers do is they advertise that product on eBay for the same price, but charge postage. When they get an order, they order it from amazon to go straight to the buyers’ home and pocket the difference.
In all of this, you need to bear in mind that eBay charges a fee when something is sold, and Paypal takes a fee for the transaction. This needs to be factored into the price of the product being sold
SELLING FOR LESS THAN COST PRICE
Now here is a neat trick that is often applied. We will call it the cost of customer acquisition.
Let’s say an eBayer sells vitamins.
They sell a popular vitamin at cost price, undercutting all of their rivals. As a result, they get loads of sales, leaving their competitors scratching their heads.
So what the eBayer has done, is they have acquired a customer who buys the type of products that they sell. So not only do they have the buyers’ details, they can include special offers in the package that they send out, thereby creating further sales.
Here is something else that I use quite frequently. I am not sure if it is a bit naughty or not, but I often do it to ask the seller whether they will supply a VAT invoice if I made a purchase.
If they are a company, you can usually find their full details if you scroll down the product listing.
More often than not, they would rather get paid a little less, but the money goes through their bank rather than them having to pay the Paypal fees. And on many occasions, the company will suggest that I purchase the product through them directly and for a discount so they don’t have to pay the eBay fees either.
Of course, I turn down the offer of getting it cheaper…
Remember though, that PayPal offers buyer protection. So if something goes wrong with the order, you can sometimes get your money back.
So there we go. There’s a lot to think about, but in a nutshell, raise some money from products that you no longer use. And if you are looking to make money, consider this extraordinary marketplace as a way of getting some much-needed income.
Have you got any tips that you would like to share? Leave a comment below