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How to Make Millions on eBay
Before you get started, get to know the entire process of buying and selling on eBay, as well as any other services they offer to aid you in your business. This can easily be found from their help link section where they offer browsing help on a variety of topics. eBay has rules and guidelines that need to be followed to ensure ethical business practices are followed.
The first step involves deciding what products you want to sell on eBay. Most eBay sellers identify something they have no more use for at home. Alternatively, you may identify a product being sold extremely cheaply on eBay or other auction platforms, buy the product and sell it at a profit. Take into consideration such factors as cost of shipping the items, weight, packaging, etc., as these can adversely affect your overall cost and subsequent profits.
Know When to Sell
Timing is everything. eBay auctions have days on which they end and begin. Time your auction entries and exits to coincide with when most people are online. Many eBay auctions end on Sundays. You may well choose to introduce your products on this day because many enthusiastic eBay followers will be online trying to get the best bid or sale. Know your products life-cycles well, as some of them may be seasonal products. Because of this, time your products to coincide with when most people are out searching to get the best deal on items before their prices escalate.
First impressions always count. Consider titles for your products that are catchy and that incite curiosity. Make your title concise, listing facts rather than making it sound like a sales pitch. Most buyers on eBay want to quickly identify what they are looking for without too much clutter in the product’s description. Pictures will help your sales move faster since there is little left to the imagination if a buyer can see what is being offered.
eBay is all about turnover. The more people view and bid on your products, the higher they drive the selling price- to your obvious advantage. eBay offers at an additional charge the “privilege” of having your products classified as feature products where searches resembling your listing immediately showcase your products at the top of search pages. Especially useful for more costly products, this additional charge is minimal to the return potential on your sale. The more products you can sell using this method, the more loyal and positive feedback from customers you are likely to get.
This is probably one of the most vital elements for a successful eBay business. It entails responding to emails on time, professional conflict resolutions, and selling products exactly as you had advertised with appropriate packaging- basically, it involves making the customer king during your entire business transaction. Trust-building is reflected by the number and ratings your clients give back to you, letting others know that you are a reputable buyer or seller and recommending prospects do business with you.