With over 72,000 people using Ebay as a source of income, there is clearly money to made there. Selling on Ebay is relatively straightforward, and you can easily be posting ads online within an hour. Like anything else, it pays to do a little research before you get started.
Your first decision is to decide what to sale. Many people use Ebay as a way to clean out their closet or garage. There is certainly nothing wrong with this, and you may find it to be very lucrative. Other people make crafts or other hand-made items and sell those online. Still, others buy wholesale lots and sort through and sell them. Whatever you choose to sell, there are some basic things to know before you get started.
Before you list anything, you need to set up an account. This is a straightforward process, and takes only a few minutes using Ebay's online forms. Once you have registered you can start listing items.
Your First Listing
When you are ready to list an item, take your time and write out an ad. Do not do this in your head or jot something down quickly. There are basically four parts to your ad. For the headline, take the time to write a descriptive sentence of your item that will grab people's attention. The description should tell the reader anything he or she needs to know about your item, including the size, color, and condition. Next comes the text of the ad. This gives more detail on the item. Describe the item thoroughly, but do not add a lot of extraneous information or personal anecdotes. At the end of your ad include your personal information, which is the methods of payment you accept, as well as shipping cost and methods. The last part of your ad is the picture. No matter how small or cheap the item, you will have much better luck selling it if you include a clear photo.
The next decision that you will have to make is how long to run your ad. Auctions can run from one to 10 days. To decide how long to run an auction is a personal decision, but most people settle on either three or five days. This gives your item enough time to be discovered, yet the process is not so drawn out that you, and potential buyers, lose interest. You will likely find that your auction gets the most action in the last few hours regardless of the length.
You will also need to decide if you want to set a reserve price. This is the price that an item has to reach before it is sold. Many people find that if they are selling an item that is popular on Ebay--and you can figure this out by searching for similar items--they do well by setting no reserve and starting the bidding at one dollar. You will have a lot of interest in the auction, and as the bidding heats up, no one wants to lose. You may find yourself getting much more for the item than you ever anticipated. If you are really firm on your price, or there does not seem to be a large market for your item, you may prefer to set a reserve price that guarantees the item will bring a certain dollar amount. The downside of this is that you may not sell your item, and many people get frustrated not knowing the reserve, thus they quit bidding just short of your asking price. The decision of whether or not to set a reserve is one that will be easier to make as you gain more experience.
Have Fun Making Money
Now that you have your listing set up, all that is left to do is wait for some bidders. You can check the status of your auctions on your "MyEbay" page. Many people become addicted to the ebay experience, as it is a fun and easy way to make some money. Whether you are selling vintage clothing, heirloom jewels, or just some trinkets from the attic, you can make a profit.
Remember, what one person considers to be junk another person considers to be treasure. With this knowledge in mind, feel free to auction any item that you no longer have a use for. The chances are good that you will make some money and have a great time in the process.
