If you are looking for a way to build up your online business or simply get rid of some unwanted products around the house, one of the best ways is using eBay. For over two decades, eBay has been the auction site that millions of people around the world have used to sell off old items and to build up businesses. Understanding how to sell products on eBay will help you get a foothold on getting your online business up and running. Mos people are under the perception it is difficult to create an eBay store and list products when it is quite simple.
Starting Up on eBay
What makes eBay great is that you can start up a business with virtually no investment apart from getting the items needed to auction on the site. You can set up your personal account for free if you want to auction or sell items from your home. A business account may require a continuing fee or other expense, but it is generally small. Ebay provides complete tutorials and step by step guides to setting up your account or store.
Once your account has been set up, the next step is finding items, so you can make sales. This is the easy part because you can probably think of dozens of items in your home or garage right now that you don’t need anymore and can quickly turn into cash. Items may include antiques, books, art, cameras, cell phones computers, concert tickets, sporting goods and video games to name just a few. You can see by these examples the list of products you can sell on eBay is limitless. They do however have some restrictions on weapons and other potentially dangerous products.
Some people will even go to the extent of going to auctions and finding high demand products that they will purchase and turn around and list on eBay for a profit. This does take some time to do research and find what products are selling for and what products are in high demand. The last thing you want to do is buy a bunch of products that you can’t sell or have to take a loss on. This defeats the whole purpose of selling on eBay.
There are 2 different formats you can choose from for listing your products. You can offer your items up for auction or put in a sell price followed by a “Buy it Now” price which allows the customer to purchase the item immediately without having to wait for the listing to end. All listings will have a start date and an end date which you can set when listing your product. In addition, you can use social media, blogs, and other advertising methods to let others know that you have items for sale or auction.
Selling Tips on eBay
The best tip is to set up a personal account and start auctioning your items, so you can learn how eBay works through experience. This includes participating in auctions and buying items to get a good feel of how eBay works. It will not take long for you to see how the process works which provides valuable experience in setting up your business. If you find success and enjoy selling on eBay you could then set up a business account and/or eBay store which allows you to have separate categories and continuing listings.
Research: Before you put an item up for auction or sale, look on eBay and see how similar items have sold. This is very important so you don’t leave any money on the table as well as make sure your product is priced to sell. eBay offers several tools for you to look back at the history of items to see the prices they have sold. This provides you with valuable information about how to price your items to maximize interest.
Timing: Although less significant today thanks to mobile devices and auction tools that allow people to add to their overall bid automatically, it still pays to time the ending of your auction when people are at home. So, the early evening is usually a good time and that’s where you should start. However, you’ll want to experiment a little to see what works best. Sometimes using this strategy can significantly increase the price you can get for an item. People that are interested and have bid on your item will not want to get outbid and this can start a bidding war very quickly. You will be surprised at what customers are willing to pay for an item just to get the thrill of winning the highest bid.
Holiday Season: If you want to sell your items for maximum value, a valuable tip is to wait until the Christmas season before selling items that make great gifts. Here, the auction format works for you since items tend to sell for higher prices during this time of the year. You have a good two-week window starting after Thanksgiving, so save up your valuable gift items for the holiday season. This is where it pays to give your auction listing an extended bidding period, say 15 – 30 days to allow the bids to increase over time.
Learning how to sell products on eBay takes research, effort, and experience which pays dividends. The good news is that you can become a pro on eBay in a short time if you take the right approach in selling or auctioning your items. Good luck on your selling and remember the worst thing that can happen is a less cluttered house or garage.