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10 profitable eBay selling tips
Making money online by selling on ebay is still something that is worth the while in 2021. With the holidays just around the corner, now would be the best time to start your ebay business. I will get you started with 10 profitable ebay selling tips.
Get acquainted with eBay
Since eBay is a marketplace just like Amazon, there are a lot of options and tools that you need to know about. The fastest way to learn about the ebay marketplace is by going through the purchasing process.
Take the time to write notes on your purchasing process and note what got your attention. This tip will start to shape your idea of how purchase intent is presented to the customers by eBay Shops.
Use the filters for free shipping or set conditions for the items . Understand the Categories that you will consider selling on. Note the tags and layout of how those items are being shown to you. Like any successful home business, knowing your tools will help you to get more sales.
On a side note: They have great statistics that show how fast some items are sold.
- In the US / A video game is purchased every 2 Seconds
- In the US/ A watch is purchased every 66 Seconds
- In the US / A sneaker is purchased every 4 Seconds
- In the UK / A cosmetic is purchased every 3 Seconds
- In Germany / A watch is purchased every 23 Seconds
- In Australia / A tool is purchased every 5 Seconds
The Best Ebay marketing tool
It takes time to truly comprehend eBay. And part of knowing eBay is knowing your customers. From my experience of selling online, the best customers are the ones you take care of. They become your business advocates.
Aside from purchasing from you, they also share the experience with their family and friends about the items that can help them from your shop. And since you took the time to be honest and flexible when it comes to customer service, they will bring you more business by sharing.
The Customer may not be always right, however, trieding the customer always right is something that you will need to accumulate with experience. There is a small group of individuals that are always looking to scam your business. And regardless of this knowledge you must always try the customer right.
Be considerate and explain the process of your business. If you can resolve the customer’s issue at a small expense, then do so. I have many times felt guilty and found myself purchasing more because of the great treatment I have received, rationalizing the purchase as a way to keep the great service and apologize indirectly. So keep it honest and always friendly.
Set your price plush
When setting up a price for your items, remember your profit. The point is to make money and earning is the name of the game for all the hours of work that you have put in, while wearing many hats.
So 3X the rate from the wholesale sounds about right. However, I have seen up to 5 / 6x the retail rate. This 5/6x is found with businesses that are detailed in their products or are the brands. However, if you do dropshipping, consider starting with 3x unless you can do whitelabel items.
You can start by searching on google and finding rates related to your items. And to make this process simple, we will say that your item’s wholesale price is $15 and you will multiplate $15 X 3. Your range price will be $45 give or take on your competitors.
You want to be in the middle depending on the item. Remember to make money on eBay or any other platform you want to make sure the item is selling, so offer free shipping. Buyers always pay attention to the shipping cost and you can add this to the product description which becomes a plus to the buyer when making a final value of the item.
Don’t Start low bids to catch the attention of buyers
If you have a collectors item and understand the value then this tip is for you.
I would suggest starting your Bid about 50% of the value of your item. So I have a coin that is a collectors edition and its worth is $100.00. The start bid should be $50.00 and the accepting bid should be $150.00.
This means that if someone bids at $150, you accept this offer. If the bid starts midway then it should be an easy claim on your bid.
I mean if $50 is the starting bid then $25 more isn’t going to hurt. And you as the seller are just $25.00 away from breaking even, anything else after that will be money.
We have become wired to think that more is better. Or in this case the higher the bid the more value it must have…
Decide what to sell to make money on eBay?
This is a great place to start if you’re just starting off! Just sell something you know about, love studying, or have expertise with, since a client will ask you a question about the item, and your best answer should be the correct one the first time. It’s a really bad impression when you have to say “let me get back to you on that“.
You “not knowing” makes me feel like you may have a low quality item or something could go wrong if I made a purchase through your eBay business. Finding items to sell becomes a mess when you start selling items on ebay that are out of your scope of knowledge. Choose something simple and experience the complexity of the process. If you have read most of this “making money on ebay” tips article, then you know that I love basketball shoe. And when I started my first store I chose to sell women’s clothes.
- Jewelry & Watches. Watches. Engagement Rings. Fine Earrings & Rings.
- Computers/Tablets & Networking. Printer Ink, Toner & Paper. Graphics/Video Cards. PC Laptops, Netbooks & Laptop Replacement Parts.
- Cell Phones & Accessories. Cell Phones, Smartphones & Parts. Cases, Covers & Skins. Headsets.
- Video Games & Consoles. Popular Games, Consoles and Video Game Merchandise.
- Clothing, Shoes & Accessories. Women’s Bags & Handbags. Clothing, Shoes & Accessories.
- Cameras & Photo. Lenses. Digital & Film Cameras.
- Health & Beauty. Fragrances. Anti-Aging Products. Vitamins & Minerals.
- Music, DVDs & Movies. Music Records & CDs. DVDs & Blu-ray Discs.
- Automotive. Car & Truck Parts. Car Audio & Electrical Components.
I had no idea how much variation and fabric complexity that it all came to be… I continued for a whole year and sales where low and female customers had questions that I could not answer, regardless of having google. The Dynamics, terms, and terminology was overwhelming, which is why I spent more than 3 months trying to read and learn. And looking back I could have skipped this process for a later time, when I was more financially sound.
Opening an ebay store, in itself, isn’t easy, so initiate the journey with something that you already have knowledge of and start from there. Once you are making money on ebay, you can start to consider other items to either add to your store or create a new store.
Investigate Current Events
One great free tool to research current events is Google Trends. And you may ask what does google trend have to do with how to make money on ebay? The answer can be reflected from past events like the coronavirus and its effect on Mask Market. Or selling items from trending athlete’s or Movie Stars.
I know that when Lebron James retires or Tom Brady, there will be a market for items to be sold and opportunity to make money on ebay. Also within ebay’s search tool you can find how many items an ebay seller has sold of what item. This will help you decide if it’s worth the time and energy to sell to your current customers or potential eBay buyers.
Types of Ebay sellers
Take a quick look at the various types of vendors on eBay to get a sense of who you could compete with while utilizing the service.
The most common ebay seller are:
- Reseller: Individuals who purchase items at a wholesale price and add a profit margin.
- Dropshippers: Individuals who fulfill orders from a wholesale supplier.
- White Label Brand: Individual (s) who order from Original Equipment Manufacture and request them to brand the item to their business.
- Local Business: Small Business like boutiques that also have a physical location but still want to sell online without building a website.
If you wish to run a large-scale ebay, you must think carefully about your financial objectives. Begin your search at home. Since 2020 a large number of people sell used goods from the comfort of their own homes. Other sellers are huge corporations with employees and warehouses. The size of your eBay business will be determined by your pricing range, available time, and cash. Unless you do dropshipping.
Where can I find inventory to flip?
So the years of going to yard sales and making that into ebay offers are long gone. I mean it still works, but the market because of technology has grown and the inventory is endless. You can use sites like Craigslist were millions of people sell personal items every day. Here is a great and free tool that will help you search all 50 states for items that you want to sell on your ebay account. Craigslist Search tool
If you want to get a more indepth list comment below and I will do the research that will give some support.
Identifying the best providers
If you have just started out as a dropshipper and have done a little bit of research then you already know about Alexpiress or Alibaba. They are your connection to wholesale products that will send your customers the items that you list on your ebay account. They offer free shipping and have quality photos that you can use with your item description.
When you are on their sites make sure that they have the Verified supplier and have more then 2 yrs
Here are additional fulfillment website that you can use to find your Products.
- AliExpress (aliexpress.com)
- 1688 (1688.com)
- DHgate (dhgate.com)
- Chinabrands (chinabrands.com)
- TradeIndia (tradeindia.com)
- Global Sources (globalsources.com)
- Made-in-China (made-in-china.com)
- Taobao (world.taobao.com)
When you are dealing with Alibaba you can ask for a sample batch to see the quality of the product. Also take know how quickly the respond and ask if they are your main connection. Ask for another context in case they get sick or if they no longer continue with the company. That additional content you should send an email letting them know that you will be contacting then in case your main contact isn’t available.
Let’s talk about the quality of the product. When selling something you want to make sure that you also consider your buyers. The last thing you want is feedback that your product is useless or not worth the Value. Item quality doesn’t mean durability, it can and should include problem solving.
When I was in college I always liked using large stamps when sending out any postcards to my family. Using small postage stamps was a problem and the solution was to use large stamps.
If your product is considered something that should last more than 6 months, then you can increase the price since a returning customer isn’t coming back for another 6 months for that item. Also consider accessories, when selling these kinds of products. They can help fill the gap until the next purchase or the next model is available for your customers.
Give product details
So in this example I looked for basketball shoes since I am 6’3″ and love AirMax. I notice an image of basketball shoes that have the complete AirMax soles. And in the details I read that they were pre-owned, which I thought it was a no for me. Yet, if you look at the image you can see that “Very Good Condition very little wear – Cleaned and sanitized before packaging” are part of the details and it gave me another outlook of the items as safe and weariable. So aside from making sure that the items keyword ( in this case “Basketball shoes”) is part of the title and detailed description.
- Brand Name (Nike | Under Armour)
- Condition of the product ( Used | New)
- Gender (Female running shoes)
- measurement if applicable ( The dimensiones)
- Item number or Identifier
These details will help your eBay business and items rank higher while selling on eBay.
It isn’t a secret that using good quality pictures is best, but what about videos?
You’re in luck since Alexpiress or Alibaba do provide videos that you can upload on youtube and use the embed script that you can find when you hit the share button. Vimeo is another platform that you can use to upload your product videos and embed when you share as well. Vimeo has a cleaner look which I recommend unless you want to have your own youtube channel.
If you’re a techy person then you know how to use the developer tools to find the video, however if you are not a techy person you can use ODM – PRO online video and media downloader which is free to use and can be found in the Chrome Store.
Make appealing listings that rank well.
When giving a description to your buyer remember that adding power words to the title is your first step to closing the sales. There is a great / pioneering list of power words that you can use to make better sales on eBay. As I said above, I would not consider pre-owned shoes, but since I really liked the shoes, and the seller stated “Cleaned and sanitized before packaging”, I would consider them. Well these power words should be alway present throughout your description.
One way to distinguish which is the best competitor description to follow is by filtering them in ebay on the left hand sidebar under “Show Only”.
Pay attention to the selling points and words being used to categories the item or solve a want or need.
Profit Margin: make money on eBay
You need a strong return on your investment, so knowing what items that can return that investment is key to your Profit margin. The rule of thumb is to look for items that have a 50% return of the value. In plain english, you want to double your amount. However, if you read above, I would suggest 3x you price value of the item since this covers the unforeseen events of doing business on ebay.
Also beware of items that have an established roof. Meaning that if there is a set market price then the only way to set your product apart would be to make it more personable and service a unique purpose. In doing so, consider the effort ( amount of work) it would take to do so, since the process may cost more than make money.
Look for similar items that you’re able to see the profit margin and ask yourself if this item will make money on ebay… If Buyers will go out of their way to search these listings. And how often does the item require purchase.
So lets say that you sell deodorant on your ebay account. And it’s a 3 pack for $14.99. Now even though a stick can last up to 30 days. Remember that buyers purchased at different times. Yet the need, and want to eliminate body odor is a constant everyday. Therefore, Customers will search for it everyday.
I know what you’re thinking, why would someone purchase it online rather than in the store? Well, since the pandemic, sales online have increased to $26.7 Trillion Globally * which most came from the eCommerce sector .
Keeping your money from scammers on eBay is another task that needs attention. There are a lot of scammers who work to get things for free. I can only assume that they resale it. I mean, why keep all of those items without converting it into money?
So there are a few things that you can do to protect yourself, but remember to always be kind and courteous in the process. Far-off are the days of postage when I started selling on ebay. Now you can use plugins that can help you track the orders and send emails to your customer as proof of the purchasing process.
Make sure that you keep a database of your orders completed with tracking number and all the details that you can collect. Even the conversation with buyers, as this will also help your case if the event arises.
The cost of shipping.
This is a golden rule: Free Shipping is king. The majority of products purchased on the eBay marketplace are sent for free. To attract more consumers and enhance your chances of a sale, provide competitive delivery rates (low cost or free shipping is preferable).
Did you know that seventy-one percent of eBay purchases are made for free delivery, and seventy-one percent of them are sent for free.
Remember that 3x the rate of your product value. This should cover free shipping.
Stick with your niche product
I express this with caution Since you have to consider the fact that if you do not do research on your product and just jump in immediately then you can find yourself in a niche or product that does not sell.
However if you took the time to research the product and understand how the eBay platform works. Then you’re well on your way to making money on eBay. Consistency is the number one profitable tip, not purchase eBay, but anything that you do .
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