One man’s trash is another man’s treasure or so they say. About twice a year, I go through my collection of things and I post them up online to sell. I usually use the three most popular sites for selling which include Kijiji, Craigslist, and world-famous eBay. My favorite of the trio would have to be eBay. Selling locally is definitely easier but I really hate dealing with “tire kickers” and the insulting low ball offers. But the problem with eBay is that you have lots of competition.
Although I do it to get rid of stuff, I have a few family members who are eBay Power Sellers and do it for a living. Here are some of tips from the professionals themselves.
- Before you even get started, you need to have a look at what you’re going up against. There is some stiff competition, especially when manufacturers are taking to eBay to sell directly. So before you invest any money, check out what other sellers are up to in the various categories and look for things which you may be able to improve.
- After that, you need to identify your market. Setup an account with eBay and watch for the types of items that sell and things that do not. Any type of market research data that you collect will be useful to you. Looks for the sweet spots with a few items that seem to sell quickly and at a decent price.
- Once you’ve identified your market, you are now ready to find a product from a trustworthy supplier. Chances are, there will be lots of suppliers, especially if from China. If the eBay selling rates are higher than the supplier’s rates, you should be good to go. Another personal tip, India, Pakistan, and Africa is a market that is not fully tapped yet when it comes to eBay sellers. They are all focused on China as it’s the easiest to get a hold of but in the future, China won’t be the powerhouse it is today. The places I’ve mentioned are a great place to start looking and finding what products they make best.
- Once you know what you are selling, don’t jump straight into it. The thought of profiting off of small items can be exciting but let’s not throw all our eggs into one basket. Trends change, demand changes, and interest in product fluctuates all the time.
- Treat it as a small business even if it is only selling items on eBay. Lots of people make a living from it and you can too. You should come up with a business plan just for your own records and outlining things such as market opportunity, strategy, strengths and weaknesses, and a budget. And if you try to implement and improve on this, you will surely see results.
- After making profits with which you are satisfied with, you can now consider expanding your little operation. You should by now have a decent amount of positive feedback from the community and you can risk playing around with other niches using the same methodology.
And that is a brief and simple guide to becoming successful as an eBay seller.