Saturday, October 9, 2010
5 Easy Ways To Make Money On eBay
It seems the most popular question I receive from a great number of e-mails from subscribers. Most Frequently the question they ask is, “Please tell me an easy way to make money on eBay.” I suppose the answer to this question really revolves around how you define the term easy.
It is my belief that there is no easier way to make money on the Internet than by selling items through eBay.
What could be simpler, a straight forward 5 step process.
1. Get something to sell.
2. Photograph it, and write a description.
3. Upload your listing to eBay.
4. Collect your money.
5. Dispatch the item.
What could be simpler than that?
But I suspect what people are really asking is how can I easily get products to sell. From my experience this is what both newcomers and some experienced eBayers find difficult. So in this article I just want to highlight 5 very simple ways that you can get products to sell without even leaving your computer. This I hope that will be easy enough for everyone.
1. What, no photograph?
It is my belief that there is hardly an item listed on eBay or any of the other online auctions that does not benefit from having a photograph or image included in the listing. In fact most items that are listed without a photograph that actually sell tend to fetch 20% less than those with. In some categories the figures are even higher. For instance clothing items offered without a photograph average a 78% lower selling price than those with. So it would seem to be pretty easy to browse eBay looking for these “photo less” items, buying them and then relisting with a photograph. Money for old rope really.
2. Finding the poorly listed item.
There are many reasons why someone’s listing fails to attract any worthwhile bids. Bad title, short or poor description, wrong category, poor spelling and so on. You can find these by browsing around the auction site, but I would suggest an easier method.
Select the categories that you are interested in and look down the search feature for items finishing within the next hour. Here is where you will find the bargains that have failed to attract any bids for the reasons we have mentioned.
3. Unsocial hoursIn any book about eBay you will find tips on when is the best time for auctions to finish. The most suggested times for most items are Sunday afternoon and evenings and Wednesday evenings. Some experts suggest that for business related items Monday or Tuesday during office hours are best. If you accept that there are times when you will get increased bids for your items there must also be times when if your auction ends you will not do so well. I would think if you have an auction that finishes between say 5 am and 8 am on a Monday morning you will not have too many people lurking to place last minute bids to push the price up. Again buy and relist with your auction set to finish at a more sociable time and you could easily make a 20% or more profit for very little effort.
4. Buy Collections
One of the easiest ways to make money on eBay is to cash in on other peoples laziness. If someone has say a collection of 10 china dogs, it is a fact that if they put all ten in one listing as a collection they will get less than if they had listed each item separately. But it is amazing how many sellers cannot be bothered to do this. I have in the past bought such a collection and actually made more from one of the items than I had paid for the whole collection.
5. Other online auctions.
Over 95% of all online auction sales are on eBay. They have the largest number of registered buyers and items listed for sale. For this reason items offered for sale on eBay get the best prices. So why not search around some of the smaller online auctions, because in many cases items listed with them will not attract such a good prices as could be achieved on eBay. Then all you have to do is buy from them and relist on eBay.
So there are 5 easy ideas for you to consider. Why not give some or all of them a try.
One of the programs I use to drive more traffic to my eBay auctions is auctiva .