How To Make Money On eBay

As a mother of two, Sarah was always busy. But, this did not stop her from finding her niche in the world. She had been designing beautiful jewelry for her friends for years. She gave them as gifts. She presented them to others who wished to buy them to give to their friends. She made each piece by hand and loved every minute of it. She knew, though, if she wanted to make any real money on this little business that she got going that she needed to find individuals that would pay for them. Her circle of friends was wearing them, of course, but she knew if they loved them so much that others would too.

Sarah took her search online and found eBay. This online auction house allowed her to easily place pictures of her products on their site and soon enough people were bidding on them. She was selling her own products. Later, she would open an eBay store that would promote more than just one product for her. She soon found herself spending more time at the post office than ever delivering her jewelry to her newfound audience.

eBay is by far one of the most sought after internet businesses to dip your hands into. But, if you don't have a lot of 'junk' lying around your home, you may find it hard to understand how you'll make any money in this business. Don't want to spend your days at garage sales and picking up other people's trash so that you have something to sell? Here are some numbers that will make you think twice about these things.

a. eBay has more than 1.2 million registered users. That is your customer based presented to you.

b. Of those, about 25,000 of them are making five figure incomes from their eBay businesses.

c. Not looking for full time? Consider part time eBayers can supplement their income by several thousand dollars a year.

If you aren't like Sarah and can't make a product to sell, as many of us wish we could, you'll find hundreds of other options too.

How Does eBay Work?

eBay is an online auction website. The website is designed to connect those that wish to sell products and those that want to find a great deal on products. The company is built on the fact that people want to get a better deal and love finding one. Just think about how you feel when you do go to that garage sale and find something that you want and can use in good shape for much less than what the retail stores sell it for. You know the shy smile that you get when you realize you are getting something for much less than what others have paid? You can think of eBay as a way to get those deals all the time.

From The Salesmanship Side

So, how do you sell and make an income on eBay? Most individuals start by cleaning house literally. They start by getting rid of things throughout their home that they simply do not need. When you can take stuff you don't use and make a few dollars off of it, you'll want to do it more. Cleaning just got profitable!

But, besides just selling things from around the home, those that are true eBay sellers realize that they need more to sell. Some will have their own products or services to offer. For example, some will sell crafts and such. Others will purchase products for next to nothing and sell them at a slight markup. This is where most eBayers make their money.

Wholesale Options Too

To find products to sell for low costs, many eBay sellers tap into the world of wholesale. Don't worry, there are plenty of companies offering services online for wholesale prices if you by in quantity. Let's say that you find out that XYZ Retailer has 10 refurbished MP3 players that you can purchase for $50 each. The new cost would be well over $100. Now, you can list them on eBay and make a solid profit on these, right?

Don't Make Less Than It's Worth

One problem that many mistakenly run into is not getting their money's worth out of the products. But, eBay has protection here too. If you don't want to lose any money on your MP3 purchases, you simply use a reserve on your auction. This term means simply that until the reserve is met, the product will not be sold. So, if Jane Doe is the only bidder and only bids a mere penny, she won't win the bid unless she raises her bid to meet your reserve or beyond.

Keys To Being A Successful Auctioneer

eBay is not the only company that you can auction with but with over 2.6 million users each day, it is definitely the one to go to in order to make that five figure income. Here are some tips to be successful.

a. Provide excellent, crisp and clear pictures. Make them as professional as possible by making them large enough to see detail. Offer several views. Along with the picture, provide an easy to read description. It needs to be detailed and can often be borrowed from the manufacturer's website. List the quality of the product and be clear about the condition it is in.

b. Drive feedback up. One of the risks of eBay is that people are leery about providing their information to you. Will you deliver? The way to know if a seller is worth the risk is through their feedback rating. Keep yours high. Do this by delivering fast, answering questions quickly and clearly and being courteous. Also, make sure that you make your deliveries as safely as possible. Provide a guarantee of the product's quality and deliverables.

So, can you make Sarah's story your story? Do you have a hidden ability to make a product? Or, perhaps you are able to help friends get rid of their products too. In fact some individuals actually pay people for things that they know will sell well on eBay and make a killing on it! It could be a good thing to start a business just by selling what's lying on your desk right now. Hmmm, what could you sell?

eBay may be the place for you to make a solid income. Consider taking a course to make sure you get all the tips and tricks out there.

About The Author

PowerSeller status is something that many eBay sellers strive to achieve, but few actually manage. With PowerSeller status you gain recognition, respect, and trust which indirectly lead to increased sales. In this article I outline the methods I feel are the best in order to become a PowerSeller.

To qualify for PowerSeller status you have to meet eBay's requirements which are:

1. To uphold the eBay community values, including honesty, timeliness and mutual respect.

2. To sell on average a minimum of £750 (or the exchange rate equivalent) or 100 items per month, for three consecutive months. In order to qualify you need to sell at least 4 items per month.

3. To achieve an overall Feedback rating of 100, of which 98% or more is positive.

4. To have been an active member for 90 days.

5. To have an account in good financial standing.

6. To not violate any severe policies in a 60-day period.

7. To not violate three or more of any eBay policies in a 60-day period.

8. To maintain a minimum of four average monthly listings for the past three months.

Now looking at the above list, I feel points 2, 3, and 8 are the most significant. Points 1, 5, 6, and 7 can be achieved largely by just reviewing and following eBay's rules. Point 4 is beyond your control, you simply have to accept that the minimum period (from registration wth eBay) that you can become a PowerSeller within is 90 days. However, points 2, 3, and 8 are fully within your control and these are the true keys to becoming an eBay PowerSeller.

I will begin with point 2, which states that you must meet either eBay's Sales Value requirements or eBay's Sales Volume requirements. In my opinion meeting the Sales Volume requirements is much more achievable than meeting the Sales Value requirements, especially when you are just starting out. As it states above, if you achieve sales in excess of 100 units for three months, then you will become a PowerSeller. Now 100 sales per month may sound a lot for a first time ebook seller, but if you break it down into daily sales then it is only 3-4 sales per day, a much more achievable target. If you run 10 auctions per day and 35% of these are successful then you will be selling enough to qualify for PowerSeller status. If 10 auctions does not bring you the required sales then keep experimenting till you discover the right amount of auctions to achieve 3-4 sales per day.

By following the above instructions you will also fulfill eBay's minimum monthly listing requirement (point 8). That just leaves point 3, which outlines eBay's feedback requirements for becoming a PowerSeller. If you are selling 3-4 items per day (as I outline above) then in three months you will have made approximately 300 sales. From these 300 sales you can potentially receive 300 positive feedback ratings. So long as you maintain a good level of customer service, describe your ebooks accurately within your listings, delivery your ebooks quickly, and promptly respond to customer queries, then you should receive at least 98% positive feedback from these 300 sales.

So to summarise if you want to become an eBay PowerSeller then:

· Sign up as an eBay User:- If you haven't signed up for a basic eBay account then Click Here to do so.

· Sign up as an eBay Seller:- Once you have a basic eBay account you then need to sign up as a seller which you can do so by Clicking Here.

· Review and Follow eBay's Rules:- In order to become a PowerSeller you must be in good standing with eBay. To achieve this you must follow eBay's Rules and Policies which you can view by Clicking Here.

· Sell 3-4 Ebooks per Day:- Start by listing 10 ebook auctions per day and measure how many are successful. Through testing you can determine how many auctions you need to run in order to generate 3-4 sales per day.

· Maintain a Good Level of Customer Service:- Deliver your ebooks promptly, respond to customer queries quickly, describe your ebooks accurately etc, and you should have no trouble gaining at least 98%+ positive feedback.

· Keep following the above steps for 90 days:- Do the above and you will be a PowerSeller within 90 days, with at least 300 sales to your name, and at least 300 positive feedbacks.

And that's all there is to it. By following eBay's rules, selling 3-4 items per day, and being good to your customers, then you can become a PowerSeller in as little as 90 days from now. Take action today and three months from now you could be rewarded with eBay PowerSeller status.

About The Author

Tom Parker offers many impartial ebook reviews just like this one at his website http://www.theebookcavernreviews.co.uk/. Tom also runs a free newsletter for ebook sellers which you can join by sending an email to: newsletter@theebookcavern.co.uk.

At one time becoming an eBay Power Seller was considered the peak of online auction selling. Recognition that you were a grade A number one seller. But that’s not true anymore, if it ever was. All you have to do to become a Power Seller is average $1000 (£750 in the UK) a month sales and have good feedback rating .

But what does being a Power seller really say about your eBay business? It says that you have a minimum turnover figure. For all anyone knows you may have achieved that by selling items at a loss. Many businesses both on and online have run into trouble by going for turnover at the expense of profit.

When you are planning your eBay business set your self a target based on profit not turnover. So instead of setting a target to sell $5000 of product on eBay each month make it to make $2000 profit instead. By concentrating on your profit rather than turnover you will always know what your business is worth to you.

Many of the sellers making big profits on eBay are not in fact Power Sellers. You may think this strange but for a variety of reasons they opt not to go for this accreditation. Some sellers have multiple eBay Ids. You may wonder why this is, some may be targeting several different niche markets and have a different Id for each of these niches.

One very well known eBay seller deliberately has many Ids and stops using them when they reach a certain feedback level. The argument for this is that it makes it more difficult for any so minded jealous competitors to harass their Id with false bids or negative feedbacks. Be warned it can be a tough world on eBay.

The trouble with eBay is that it is very much price driven. Ask most people why they shop on eBay and they will tell you they are looking for a bargain. This has the effect of forever driving down prices and hence profit margins as well. There will always be someone willing to shave that little more off the price and their profits just to make the sale. This is particularly true in the Buy it Now part of the market.

The only way around this is to have something so unique that you are the only person selling it on eBay. This can be achieved by either inventing and having a product manufactured yourself or finding a new product and signing an eBay exclusivity agreement with the manufacturer. The best places I have found for discovering these types of products are trade fairs, which are always worth a visit.

Probably the easiest way to get an exclusive product is to write an e-book, audio program or make an information video. All of these are very cheap to produce and offer a big profit margin for a small out lay. Up to 1000% profit and no competition to force your profits margins down.

If you are successful eBay will offer you Power Seller status anyway and it is up to you if you accept or not. But the point is that you will have got there by concentrating on your profits not your turnover and you will be all the richer for it.

About The Author

Dave Bromley has been an eBay fan and writer for seven years. He runs one of the UKs leading eBay auction information sites http://ukauctionline.co.uk and offers a monthly newsletter and 6 part eBay mini course to anyone who registers at his site.