Pros and Cons of Selling on Ebay
Simon Fusco asked:
Pros and Cons of Selling on eBay
Are you interested in becoming an eBay seller? If you are, you are definitely not alone, as eBay has become a relatively quick and easy way to make money online. Each day, a large number of individuals use eBay to make extra money from home and a few lucky ones are even able to make enough money to support themselves or their families. Before you jump on the eBay selling bandwagon, you are advised to take a few minutes and examine the pros and cons of selling on eBay.
One of the many pros, or plus sides, to selling on eBay is the fact that is it is relatively easy to do. Once you create an eBay account, you can start listing items that you have in your possession for sale right away. When doing so, it is also easy to do. eBay has a step-by-step process for listing items for sale, in traditional auction formats or buy it now formats. In fact, eBay also has a program that lets you compile your auctions, with pictures and descriptions, when you aren’t even connected to the internet. As soon as you connect to the internet, you can begin to upload your listings and have them start right away.
Another one of the many pros to selling on eBay is that just about anyone can do it. You don’t have to have big fancy, expensive items to sell on eBay. In fact, a large number of those selling on eBay are just selling items that are taking up space in their homes; items they don’t want anymore. If you are interesting in becoming an eBay seller, but you aren’t sure as to how much you can depend on eBay for income, you may want to think about testing the waters. You can do this by listing the items have you have around your home for sale. Items that tend to sell relatively well are lots, or groups, of toys and infant clothing.
While there are a number of pros, or plus sides, to selling on eBay, there are also a number of cons, or downsides, to doing so as well. One of the biggest cons or downsides to selling on eBay is the competition. As it was previously mentioned, a large number of internet users have started using eBay to make extra money or even make a living. This is what leads to multiple auction listings for the exact same items. While this is nice for the eBay buyers, it can hurt you as a seller. When the supplier is higher than the demand, you may not make as much money off of your items as you had originally hoped to, if they even sell at all.
Another downside to selling on eBay is the fees associated with doing so. In recent years, eBay has redone their fee structure, often to raise their fees. Although these fees are still considered relatively low, they could put a damper on your profits, which alone are sometimes hard to come by. Of course, there are ways that you can the most out of eBay fees. For instance, if you have a “hot seller,” you could start your auction out at a low price, as the fees are less for doing so; however, you are taking a gamble, as you never have any guarantees as for how much your items will sell for. Perhaps, the unknown is one of the biggest downsides to selling on eBay; you never really know if you are going to make money or even if you will end up losing money.
As you likely already know, the decision as to whether or not you want to become an eBay seller is yours to make, but, when making your decision, you are advised to keep the above mentioned points in mind. With a relatively equal amount of pros and cons, you may be wondering what your best option is. For more accurate information, you may want to think about testing the eBay seller waters, as you are able to sell whenever you want, with no minimum auction requirements.
Pros and Cons of Selling on eBay
Are you interested in becoming an eBay seller? If you are, you are definitely not alone, as eBay has become a relatively quick and easy way to make money online. Each day, a large number of individuals use eBay to make extra money from home and a few lucky ones are even able to make enough money to support themselves or their families. Before you jump on the eBay selling bandwagon, you are advised to take a few minutes and examine the pros and cons of selling on eBay.
One of the many pros, or plus sides, to selling on eBay is the fact that is it is relatively easy to do. Once you create an eBay account, you can start listing items that you have in your possession for sale right away. When doing so, it is also easy to do. eBay has a step-by-step process for listing items for sale, in traditional auction formats or buy it now formats. In fact, eBay also has a program that lets you compile your auctions, with pictures and descriptions, when you aren’t even connected to the internet. As soon as you connect to the internet, you can begin to upload your listings and have them start right away.
Another one of the many pros to selling on eBay is that just about anyone can do it. You don’t have to have big fancy, expensive items to sell on eBay. In fact, a large number of those selling on eBay are just selling items that are taking up space in their homes; items they don’t want anymore. If you are interesting in becoming an eBay seller, but you aren’t sure as to how much you can depend on eBay for income, you may want to think about testing the waters. You can do this by listing the items have you have around your home for sale. Items that tend to sell relatively well are lots, or groups, of toys and infant clothing.
While there are a number of pros, or plus sides, to selling on eBay, there are also a number of cons, or downsides, to doing so as well. One of the biggest cons or downsides to selling on eBay is the competition. As it was previously mentioned, a large number of internet users have started using eBay to make extra money or even make a living. This is what leads to multiple auction listings for the exact same items. While this is nice for the eBay buyers, it can hurt you as a seller. When the supplier is higher than the demand, you may not make as much money off of your items as you had originally hoped to, if they even sell at all.
Another downside to selling on eBay is the fees associated with doing so. In recent years, eBay has redone their fee structure, often to raise their fees. Although these fees are still considered relatively low, they could put a damper on your profits, which alone are sometimes hard to come by. Of course, there are ways that you can the most out of eBay fees. For instance, if you have a “hot seller,” you could start your auction out at a low price, as the fees are less for doing so; however, you are taking a gamble, as you never have any guarantees as for how much your items will sell for. Perhaps, the unknown is one of the biggest downsides to selling on eBay; you never really know if you are going to make money or even if you will end up losing money.
As you likely already know, the decision as to whether or not you want to become an eBay seller is yours to make, but, when making your decision, you are advised to keep the above mentioned points in mind. With a relatively equal amount of pros and cons, you may be wondering what your best option is. For more accurate information, you may want to think about testing the eBay seller waters, as you are able to sell whenever you want, with no minimum auction requirements.
Know What, You Can Be An EBay Powerseller
Karen O’Donnell asked:
An eBay powerseller is an official designation bestowed by eBay upon those sellers who have reached a certain sales performance and have a high level of total feedback. To be named as an eBay powerseller, you have to achieve at least a 98% positive rating by other eBay users.
For a live example of an eBay powerseller, there is Ted Corriher, a home, garden and farm equipment dealer in Newton, North Carolina. When he started out four years ago, he didn’t know much about computers or the internet. He didn’t even have a personal e-mail account.
During that time, all of his friends were buying on eBay, and he didn’t want to be left out. He asked one of his employees to research about eBay and find out how he could sell his equipment on eBay. Now, three years later, he sells about $100,000 worth of equipment on eBay every month. His predominantly tractor-sales business has grown from $4 million to $10 million according to his annual sales.
Since joining to become part of the 147 million registered users on eBay, Corriher says that being an eBay powerseller has been a rewarding and enlightening experience for him. It also helped in reviving his grandfathers business. He has also started on business expansions.
For those of you wanting to be inspired, and become an eBay powerseller like Corriher, know that it is not impossible for a startup seller to reach the eBay powerseller level of achievement in a short time of 3 years, like Corriher did.
So, as you aim for the recognition of being an eBay powerseller, start focusing your energies first on being a better eBay seller. Here are ten tips that can help you to transform into a better seller.
Once you got this far, you already got the basics of eBay. However, there are several little, but significant things left that you may not have thought of trying, yet.
Some of these tips may go against other advices being given for eBay selling. Some are a little risky and some are just odd. But, there is no harm in trying, though. And you can easily discard the things you do not agree with and apply those you want to keep using.
1. Keep more records even if it sounds time consuming, it would probably keep your job of tracking down cheques, delivery and shipping receipts and other such paper work, easier in the long run.
2. Post without payment. Now this might sound a bit risky, but it means that the buyers get their items more quickly than the usual process of waiting for payments to clear and be received. Do this ideally for small items, you might find it worth the occasional loss to give such quick service. Buyers would remember you for it.
3. Post every day if you have started shifting on high volume items, posting them every day might help you satisfy your customers. By posting your items everyday, your customers will them quickly enough and thereby make them very happy, indeed. If you have items that are small enough to drop in a postbox you might consider doing this.
4. Encourage an auction mentality. Entertain bidders by boosting them to place a bid on the product and not just buy quickly. However, make it very clear when it’s the last or only stock you’ll be getting in. Boost the bid winners confidence more by referring to them as winners.
5. Mention every defect your item has. Or better yet, have a good, truthful & detailed description of your item in the search results listing. By doing this, you build credibility and have buyers trust you. People bid more when they trust the seller.
6. Say how you got the item. This should also be part the detailed description you need to prepare. Say all, like the fun details of how you got hold of what you’re selling. Providing this bit of information gives your auction character and, again, builds trust.
7. Accept odd payment methods. Be flexible on whatever forms of payment your buyer would suggest.
8. Don’t be afraid to sell low. By occasionally letting an item go for a really low price to a good buyer, chances are you might be getting even on it. But, you have secured a buyer who will come back again and again.
9. Give free shipping for a certain number of orders, or orders over a certain amount. Sometimes people buy some item they don’t want, just because of the free shipping. Try it.It is an Amazon.com tactic
10. Ship worldwide. Be nice to international customers and get more market by this. Take time to investigate the prices. Just imagine how much your market will expand once you do worldwide shipping.
Try to use some of the many eBay tools available. If you just be more open-minded and see the long term effect of several of the tips mentioned, then in no time at all, you might just be the next eBay powerseller.
An eBay powerseller is an official designation bestowed by eBay upon those sellers who have reached a certain sales performance and have a high level of total feedback. To be named as an eBay powerseller, you have to achieve at least a 98% positive rating by other eBay users.
For a live example of an eBay powerseller, there is Ted Corriher, a home, garden and farm equipment dealer in Newton, North Carolina. When he started out four years ago, he didn’t know much about computers or the internet. He didn’t even have a personal e-mail account.
During that time, all of his friends were buying on eBay, and he didn’t want to be left out. He asked one of his employees to research about eBay and find out how he could sell his equipment on eBay. Now, three years later, he sells about $100,000 worth of equipment on eBay every month. His predominantly tractor-sales business has grown from $4 million to $10 million according to his annual sales.
Since joining to become part of the 147 million registered users on eBay, Corriher says that being an eBay powerseller has been a rewarding and enlightening experience for him. It also helped in reviving his grandfathers business. He has also started on business expansions.
For those of you wanting to be inspired, and become an eBay powerseller like Corriher, know that it is not impossible for a startup seller to reach the eBay powerseller level of achievement in a short time of 3 years, like Corriher did.
So, as you aim for the recognition of being an eBay powerseller, start focusing your energies first on being a better eBay seller. Here are ten tips that can help you to transform into a better seller.
Once you got this far, you already got the basics of eBay. However, there are several little, but significant things left that you may not have thought of trying, yet.
Some of these tips may go against other advices being given for eBay selling. Some are a little risky and some are just odd. But, there is no harm in trying, though. And you can easily discard the things you do not agree with and apply those you want to keep using.
1. Keep more records even if it sounds time consuming, it would probably keep your job of tracking down cheques, delivery and shipping receipts and other such paper work, easier in the long run.
2. Post without payment. Now this might sound a bit risky, but it means that the buyers get their items more quickly than the usual process of waiting for payments to clear and be received. Do this ideally for small items, you might find it worth the occasional loss to give such quick service. Buyers would remember you for it.
3. Post every day if you have started shifting on high volume items, posting them every day might help you satisfy your customers. By posting your items everyday, your customers will them quickly enough and thereby make them very happy, indeed. If you have items that are small enough to drop in a postbox you might consider doing this.
4. Encourage an auction mentality. Entertain bidders by boosting them to place a bid on the product and not just buy quickly. However, make it very clear when it’s the last or only stock you’ll be getting in. Boost the bid winners confidence more by referring to them as winners.
5. Mention every defect your item has. Or better yet, have a good, truthful & detailed description of your item in the search results listing. By doing this, you build credibility and have buyers trust you. People bid more when they trust the seller.
6. Say how you got the item. This should also be part the detailed description you need to prepare. Say all, like the fun details of how you got hold of what you’re selling. Providing this bit of information gives your auction character and, again, builds trust.
7. Accept odd payment methods. Be flexible on whatever forms of payment your buyer would suggest.
8. Don’t be afraid to sell low. By occasionally letting an item go for a really low price to a good buyer, chances are you might be getting even on it. But, you have secured a buyer who will come back again and again.
9. Give free shipping for a certain number of orders, or orders over a certain amount. Sometimes people buy some item they don’t want, just because of the free shipping. Try it.It is an Amazon.com tactic
10. Ship worldwide. Be nice to international customers and get more market by this. Take time to investigate the prices. Just imagine how much your market will expand once you do worldwide shipping.
Try to use some of the many eBay tools available. If you just be more open-minded and see the long term effect of several of the tips mentioned, then in no time at all, you might just be the next eBay powerseller.
Ebay Selling Tips
Thrive Learning Institute asked:
This article will help you understand what eBay is and how much opportunity there is for you. EBay is not simply a place where the world goes to make a few bucks; it is actually an international company.
There are many crazy eBay auctions which show up in the news like the grilled cheese sandwich that looked like the Virgin Mary, the Illinois shaped cornflake, advertising space on a guys forehead, and the 44 year old man who auctioned off all his belongings and a two week trial of his job to the highest bidder. These are the kinds of auctions that make the news. In reality, it is the news and the popularity that gives these auctions the attention they need to make crazy amounts of money.
What you do not hear about are tons of copycat auctions that go up right after those publicized auctions that do not make a penny. Despite those examples, auctioning off your forehead or your lunch is not a good business plan to build a long-lasting, profitable business on eBay.
To make a killing on eBay, realize that eBay is a massive online destination for millions upon millions of shoppers to buy every-day things; sometimes used and sometimes brand new. Major established companies and businesses, large and small, are selling goods on eBay and making a lot of money doing so.
EBay is an international company with a presence in 39 markets around the world including separate eBay sites for several countries including, but not limited to, Germany, Korea, Spain, Poland and Sweden. EBay owns PayPal.com, skype.com, rent.com, shopping.com, stubhub.com, and stumbleupon.com. EBay is not a flea market or a garage sale. It is a massive company with a lot of power and exposure on the internet. A small percentage of the site is made up of random things like you would find on the street corner or in someones driveway. The majority of the site is made up of the stuff you buy in a specialty store or a mall.
At any given time there are over 112 million items for sale on eBay. 7 million items are added every day in any of the 50,000 available categories. EBay is not simply for auctions; 43 percent of all items sold last year were Buy it Now items where the product was purchased without any bidding, like any other online retail store.
Who is buying all this stuff?
There are over 84 million users on eBay worldwide. EBay is regularly ranked in the top ten most popular sites on the internet. Over $1,900 worth of goods are bought and sold every second. Last year alone, over $60 billion worth of items were sold.
The great thing about this industry is that it is always changing. For more information please follow the links provided. Thrive Learning Institute is a business consulting firm that specializes in helping people start their own online businesses. To learn more, visit www.thriveli.com or the Thrive Learning Institute elibrary.
This article will help you understand what eBay is and how much opportunity there is for you. EBay is not simply a place where the world goes to make a few bucks; it is actually an international company.
There are many crazy eBay auctions which show up in the news like the grilled cheese sandwich that looked like the Virgin Mary, the Illinois shaped cornflake, advertising space on a guys forehead, and the 44 year old man who auctioned off all his belongings and a two week trial of his job to the highest bidder. These are the kinds of auctions that make the news. In reality, it is the news and the popularity that gives these auctions the attention they need to make crazy amounts of money.
What you do not hear about are tons of copycat auctions that go up right after those publicized auctions that do not make a penny. Despite those examples, auctioning off your forehead or your lunch is not a good business plan to build a long-lasting, profitable business on eBay.
To make a killing on eBay, realize that eBay is a massive online destination for millions upon millions of shoppers to buy every-day things; sometimes used and sometimes brand new. Major established companies and businesses, large and small, are selling goods on eBay and making a lot of money doing so.
EBay is an international company with a presence in 39 markets around the world including separate eBay sites for several countries including, but not limited to, Germany, Korea, Spain, Poland and Sweden. EBay owns PayPal.com, skype.com, rent.com, shopping.com, stubhub.com, and stumbleupon.com. EBay is not a flea market or a garage sale. It is a massive company with a lot of power and exposure on the internet. A small percentage of the site is made up of random things like you would find on the street corner or in someones driveway. The majority of the site is made up of the stuff you buy in a specialty store or a mall.
At any given time there are over 112 million items for sale on eBay. 7 million items are added every day in any of the 50,000 available categories. EBay is not simply for auctions; 43 percent of all items sold last year were Buy it Now items where the product was purchased without any bidding, like any other online retail store.
Who is buying all this stuff?
There are over 84 million users on eBay worldwide. EBay is regularly ranked in the top ten most popular sites on the internet. Over $1,900 worth of goods are bought and sold every second. Last year alone, over $60 billion worth of items were sold.
The great thing about this industry is that it is always changing. For more information please follow the links provided. Thrive Learning Institute is a business consulting firm that specializes in helping people start their own online businesses. To learn more, visit www.thriveli.com or the Thrive Learning Institute elibrary.