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How To Make Money Selling Your Stuff on eBay

Updated on April 19, 2012

Selling on eBay is one of the best ways to make money fast. In fact, you can make a lot of money by simply selling things that you no longer need. When you sell your items on eBay, you can earn cash fast, and the buyer can get a great deal on your discounted merchandise. It truly is a win-win situation.

But most people have questions about how to sell on eBay. Even seasoned sellers get nervous, and are constantly looking for ways to increase sales. This article is designed to help you begin your eBay business, even if you are just have an online yard sale. You may be surprised with your success.

What To Sell

If you are just starting on eBay, then you should begin by selling items around your house. This method is foolproof, because you aren't investing any money in merchandise. You'll be shocked to see how much merchandise you have in your home.

Selling household items will help you build feedback and establish a history on eBay. Many buyers look for established sellers with good feedback ratings. They want to know that their transaction will be safe.

Once you have established yourself as a legitimate eBay seller, you may want to consider opening an eBay store or selling via dropship. When you have items drop shipped to your customers, you sell the products on eBay; after you have sold the products, you order the product from your wholesale distributor and have them shipped directly to your customer. Companies such as Liquidation.com, Doba.com, and Megagoods.com sell wholesale products to eBay sellers.

How To Make Money Selling on eBay

Source: http://www.flickr.com/photos/liewcf/303284582/
Source: http://www.flickr.com/photos/liewcf/303284582/

Research Before You Sell

The easiest way to make money on eBay is to do your research before you put your items up for auction.

When you are getting ready to sell your item, make sure you research the completed auctions of the same or similar items. Look to see what keywords are used in the titles, and look to see what other people are using in the description. In many cases, you can compare the sold auctions and the unsold auctions and figure out what you need to do.

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How To Make Money Selling on eBay

Source: www_flickr_com_photos_dborman2_3290560161
Source: www_flickr_com_photos_dborman2_3290560161

Set a Fair Price

Many eBay beginners make the mistake of pricing their items too high. But a high price can turn buyers away. Instead, you need to set a fair price that bidders will want to pay. If a bidder thinks that the auction price is fair, then they will be more likely to bid on your item.

To determine your starting price, visit eBay and do a search on the "Completed listings" for similar items. Visit these completed auctions and see which prices attracted buyers. You may be surprised to see that some items have sold well above their beginning bid.

Don't Oversell Your Item

Perhaps the biggest mistake that new new eBay sellers make is that they "oversell" their item. By overselling, or talking too postive about the item, sellers may accidentally cause the buyer to be unhappy with their item. You do not want to make your item sound better than it actually is.

Ebay buyers are very interested in full disclosure. They want to know exactly what they are getting, and they will be happier if they know the all of the details. So check your item carefully, and provide both positive and negative details. If a book is in very good condition, but has a large crease on the back cover, put it in your auction. This is especially true with clothing, as people who buy clothes tend to be picky about any clothing defaults, including stains, pilling, or fading. You'll be surprised how many buyers will be okay if you tell them about these things in your auction.

Open a PayPal Account

PayPal is an amazing tool for processing payments on eBay. By signing up for PayPal, you will receive several benefits as an eBay seller.

  • You know that your buyers have an easy way to pay you. Buyers like to use PayPal because it's easy, and they know that their money can't be scammed from them. The service also protects buyers against dishonest sellers.
  • Paypal pays you right away. Now that eBay owns PayPal, the sites are integrated. The developers have made it easy to go straight from winning an eBay auction to paying. You no longer have to wait for a check or money order to appear in the mail and then clear your bank.
  • You can take credit cards, like Mastercard and Visa, when you use PayPal. Buyers like to pay via credit card, and it benefits you too. Studies show that buyers spend more money when they have access to a credit card.

The disadvantage is that PayPal does charge fees. However, I have found that the small fees that I pay for this service outweigh the risks I take by taking checks or money orders. I no longer have to worry about waiting for a check or having a check bounce. It also lowers my percentage of non-paying bidders.

How To Make Money Selling on eBay

Build Your Feedback

Building your feedback on eBay is extremely important. Before purchasing an item, most buyers will look at the seller's feedback. They are looking for established sellers with good feedback ratings. As customers, they want to know that their transaction will be safe.

You'll be surprised to learn how easy it is to build your feedback. First, you will want to purchase an item or two on eBay. It doesn't have to be an expensive item. But the truth is that many buyers are uncomfortable if a seller has a feedback of 0. You can purchase an eBook or a recipe, both of which can be delivered quickly. Leave positive feedback for the seller, and then they can leave feedback for you. The good news is that, with eBay's new feedback policy, sellers can only leave positive feedback for you.

Selling household items will help you build feedback and establish a history on eBay.

How To Make Money Selling on eBay

Source: http://www.flickr.com/photos/funnybusiness/2366522119/
Source: http://www.flickr.com/photos/funnybusiness/2366522119/

Decide How To Ship

When setting up your auction, make sure you list the shipping options. You can choose from several options, including mailing through the post office, Fed Ex, or UPS, among others. You also have a variety of choices regarding the shipping speed. You'll need to determine whether the item needs to arrive very quickly, or if can be a little slower. The quicker the delivery, the higher the price.

It's best to spell out your shipping choices in your auction. I like to offer several choices, although my personal preference has always been to send it via the post office's 2-day service. Of course, I pass this cost on to my customers, but the 2-day service is fairly priced. When I ship books, I prefer sending Media Mail if the customer doesn't mind waiting a few weeks.

eBay does have a nifty little tool that can help you figure out the shipping prices. Before you enter the numbers, you'll need to know the weight of your box. Before you even begin your auction, find the box that you'd like to use to ship your item, as well as bubble wrap or tissue paper. Add a sheet of paper or two to account for tape and a receipt. Weigh the box, and you should have a pretty good estimate of how much your item will cost to ship.

If you have your products dropped shipped through a wholesale company, such as Liquidation.com, MegaGoods.com, or Doba.com, you can figure out your shipping costs before you set up your auction. Then you can pass the cost directly to your customer, and you won't have to deal with the hassle of shipping them yourself.

Comments

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    • profile image

      santhosh 

      6 years ago

      Awesome blog! Thanks for sharing this info. I will visit your blog again to check your new articles.Tech-buzz.in

    • DonnaWallace profile imageAUTHOR

      Donna Wallace 

      8 years ago from North Carolina

      Hi Eddy, thank you for the compliment on the hub. I do see how it could be time consuming, but the more that you do it, the easier it becomes. EBay does charge a lot of fees, but I've found that the money I earn is well worth it.

    • Eddy2106 profile image

      Eddy2106 

      8 years ago from Chicago Suburb, IL

      I've solden a broken xbox 360 and psp, a lot of fees and time consuming, good hub.

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