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And there were more incredible bargains
to be found than at any other ecommerce website or brick and
mortar store I had ever visited. After about six months or so of buying,
I began selling items on Ebay. I had an extensive collection of unbuilt
as well as built plastic model cars. I began placing the models on Ebay
with starting bids of $5.00 and no reserve. To my surprise, people
started jumping all over these model kits. Some of them sold for as high
as $70.00. It was at this time that I realized the enormous money making
potential of Ebay. The key to being a successful seller on Ebay is
selling items that people want. There are a number of ebooks on Internet
auctions that tell of the importance of a great headline and a killer ad
for your auction. While this is true, it is also important to remember
that the best ad in the world will never sell an item that no one wants.
The items that do well on Ebay are unique or interesting items.
Antiques, pottery, collectables and high-end apparel are just a few of
the items that will bring high bids on Ebay. If you can easily find the
item at Wal-Mart, chances are it will not do well on Ebay.
There are a number of wholesalers
around the country that you can buy merchandise from to sell on
Ebay. But before you buy, do your homework. It's very tempting to buy a
bunch of electronic widgets that sell for $2.00 a piece. You might think
you can buy 20 of the $2.00 widgets and then sell them for $12.00 a
piece on Ebay and make a killing. Unfortunately, you discover that no
one is bidding on your widgets despite the fact that you have started
the bidding at a mere $6.00. In fact, there are very few people that are
even viewing your auctions. The end result is you are now stuck with 20
widgets that no one wants. The first mistake here was not doing a search
of widgets on Ebay to find out if they're hot or not. The second mistake
was trying to sell an electronic item. Yes, I know there is a huge
market for electronic gadgets. That's the problem; the market is too
huge. It is already saturated. How many times a day are you bombarded
with offers for the latest and greatest cell phone or digital camera? If
you try to sell in this market on Ebay, you're encroaching on Best Buy's
turf, which means you'll be smashed like a bug. On the other hand, how
many offers do you receive for NASCAR collectibles or Gucci shoes? Or
how about die cast models? These are the hot items on Ebay. These are in
demand items and more importantly you can sell these items without
competing against Wal-Mart and Best Buy.
If you're new to Ebay, the first thing
you need to do is to build positive feedback. Feedback is vital
to your success on Ebay. Potential buyers will read your feedback in
order to determine if you're an honest seller. If you have high numbers
of negative feedback, many buyers will look elsewhere. Take a look at
some of the Ebay Power Sellers feedback. Many of them have
feedback in the thousands with a rating of over 99% positive. It's no
secret how these Power Sellers became successful on Ebay. They take care
of their customers. This means they'll have plenty of repeat business.
When you first sign up with Ebay,
you'll have zero feedback. Most buyers will shy away from an Ebay newbie
with zero or very low feedback. Start building your feedback rating by
selling personal items from around the house that you no longer want.
This is a good way to get the feel of using Ebay and to build positive
feedback. You should invest in a good digital camera. Good clear
pictures are an important selling feature on Ebay. Remember to describe
your items accurately and honestly. Do not try to trick or
deceive buyers in any way. You can't afford receiving negative feedback
this early in the game.
I came across a perfect example of a
deceptive seller on Ebay a while back. The seller had sold a pair of
slightly used shocks for a 2003 Chevy pickup. He used Ebay's Buy-It-Now
feature to sell the shocks for just one cent. Wow! What an incredible
deal! But wait a minute. The unwary buyer forgot to read the entire
auction. The shipping charges were a whopping 60 bucks! The result was a
pissed off buyer and negative feedback for the seller. This was an
obvious attempt on the part of the seller to make money on the shipping
costs. He was banking on the fact that the buyer would not read the
entire auction and would simply assume the shipping charges would be
reasonable. Do not use deception in your auctions or try to make money
on shipping costs. If you treat your customers the way you expect to be
treated you will never go wrong and you'll be well on your way to
building a reputation as an honest top-notch seller.
If you happen to get a few
non-paying bidders, resist the temptation to leave negative feedback
for these individuals. Leaving negative feedback will only result in
possible retaliation by the non-paying bidder and negative feedback for
you. Once again, you do not want any negative feedback this early in the
game. Buying items off of Ebay is another great way to build positive
feedback. When you win an auction, pay for the item promptly. The result
will be positive feedback for you. Most buyers will not care
whether your feedback came as a result of buying or selling as long as
it's positive.
After you've built a feedback rating of
least 25, you'll be ready to start purchasing wholesale merchandise to
sell on Ebay. Remember what I said about doing your homework before
buying merchandise. If you have your eye on a particular item you think
might sell on Ebay, first do a search of that item on Ebay to find out
what people are bidding if anything on the item. If it looks hot, at
least 7 or 8 bids, then it's probably a good bet. If it doesn't appear
to be getting many bids, you should steer clear. You can also do an
advanced search for auctions that have already ended. It's a great way
to find out the final bid price for a particular item. A few
extra minutes of research can save you from a giant headache down the
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