Earning on Ebay #3: Group Selling
Effective Ebay selling methods are easy to learn but difficult to master. Sometimes an item will not sell because picky Ebay bidders do not want it. Other times, you will be able to sell an item, but Ebay fees will destroy your profit margin. If you can find an item that buyers want, and will bring you enough profit to make it worth selling online, then it could be worth your time. There are many other selling tricks beyond effective inventory selection that can be beneficial when it comes to reeling in buyers. One of these is bundling your items. What this means is that you will sell a number of items in a single listing, effectively creating an Ebay lot or bundle. Sometimes this works out very well for the average seller. Here are a couple of reasons why you may want to consider selling your items in a single lot.
A Vital Key to Making Money Online!
Saving while Selling on Ebay
1. Saving on costs - If you like to make elaborate online listings and add a number of options to give additional coverage to your listing, you may want to consider selling bundles on Ebay rather than individual items. That way, you only pay one time for a bold item listing charge or potential home page coverage. Additionally, it is sometimes easier to save on shipping. The post office tends to charge at a high initial baseline. I have shipped an item weighing 3 pounds for $6.00, but an 8 pound package shipped using the same method may only cost $10.00. By creating a single larger shipment, a seller can save money on Ebay shipping costs as well.
2. Complementary items - If you have a DVD player to sell, it could be beneficial to sell a few movies with it to sweeten the deal. The two items complement each other in usage. Because of this, bidders will be more likely to bid on your item. They will be able to get something that can better satisfy an overall entertainment need rather than just having one piece of the movie night puzzle.
A Whole Greater Than the Sum
3. Appealing to collectors or completionists - If you only have one piece of a set, it can be much harder to sell than a complete set. Collector's are usually looking to have a full set, and unless you have the final piece they need, your average Ebay buyer will want to get everything in one swoop. From a completion perspective, other bidders may not have the time to purchase a single item from you and additional items from different sellers, so the seller offering a complete lot may get you the important first bid.
4. Increasing perceived value - When it comes to selling on Ebay, more is more. If a bidder sees something they want, and then sees it listed with an additional item, they may see it as a bonus. This can lead buyers to drive up the price because they are getting exactly what they want along with some extras. When I have listed items on Ebay, sometimes I will sell them individually, and other times in a lot, to see which does better. Surprisingly, some item lots have gone for much more than the sum of similar items that were sold piece by piece.
5. Item value addition - I could try to sell a single Lego block on Ebay. However, if it is not some rare piece, or made of a precious metal, it will not go for much more than the going single Lego street rate, essentially zilch. But, if I were to list a bunch of Legos together, I could sell them as a lot. This makes me much more likely to get a sale. Ebay lot selling allows sellers to group together otherwise "un-sellable" items because of their low value. This opens up many different selling categories.
Selling on Ebay can be difficult, grouping is one way to simplify the process and open up opportunities for new inventory. This process is not foolproof. In fact, in a future hub I will show you when breaking up item groups can be the best option. Until next time, good luck and happy selling!
The rest of my Ebay Series!
- How to Sell On Ebay #4: One Cent Auctions
Come one, come all! I sell all my items for a penny, or do I? Here is the breakdown of penny auctions on Ebay.
- How to Sell on Ebay #2: Finding out how much you can really make selling online
An essential breakdown of all the fees for selling on Ebay, maybe even a few that you hadn't though t about before!
- How to Sell on Ebay #1: 10 Reasons I Love/Hate Ebay
Find the brightest spots and darkest corners in the world of online selling! This Hub looks at some of the specific pros and cons of the world's largest online marketplace, Ebay.