Self-starters around the world are making money selling products on eBay. Some are raking in the cash with revenues in the six-figure range. The best part about selling on eBay is anyone can do it.
How to Sell Products on eBay
Do not be intimidated by the prospect of launching your own eBay business. Do the research, focus on the numbers and you really will be able to flip products on eBay for a considerable profit. The first step is to find a source of moderately priced high-quality products. As long as there is demand for the products in question, you will be able to make money pricing them higher than your initial purchase price.
Some products sell better than others on eBay. Do not attempt to put random items from your apartment up for sale on this virtual platform. The only way to make money from random sundries is to market them in a highly strategic manner or appeal to a niche audience with a considerable amount of disposable income. The better approach is to buy items wholesale, be it from another eBay seller, a local merchant or elsewhere. Buy desirable items at a high volume, reduce their price when posting them to eBay and you will likely have a buyer in a reasonable amount of time.
What Sells Best on eBay?
Though you can certainly make money competing with the big boys on eBay, your margins will be slim. Zero in on the hottest selling items while attempting to carve out your own niche on the eBay marketplace. Electronics are particularly easy to flip on eBay. Some of the best selling electronics include electronic vaporizers, iPhones, iPads, Android products and video games. Let’s take a look at an example to show how easy it is to make money selling products on eBay.
Consider an eBay seller with an item limit of 1,500 items each month. His or her typical item yields a $3 profit. Making $3 per sale is nowhere near as difficult as some make it out to be. If you were to purchase items in bulk at a discount price and mark them up for a $3 profit per sale, your 1,500 monthly units would equate to $4,500 in profit each month. Multiply this profit times the twelve months of the year and your annual revenue will approach $55,000. This figure will increase as you master your eBay selling strategies.
Auctions or Fixed Price?
eBay sellers have the option of selling items at a fixed price or an auction in which prospective buyers bid the price up until the deadline. The decision to sell your items at a fixed price or at auction hinges on the items you are selling. You can find out how similar products sell, their sale prices, the best selling format and even the total number of units sold each day on eBay. Here’s how to retrieve all of this valuable information: Type the product name into the eBay search bar. Scroll to the completed listings, check the box and you will have all of the important analytics at your disposal.
Additional Points of Note for new eBay Sellers
eBay items sell best when priced below $300. Most eBay buyers are hesitant to fork over more than this amount to an unknown seller several hundred miles away. Product weight is also important. Light items are cheaper to ship so don’t buy a large volume of bulky products that prove egregiously expensive to ship. Furthermore, small and light items are that much less likely to be damaged during shipping.
Above all, abide by this mantra when selling on eBay: When in doubt, keep it simple. Sell items that can be used and assembled with ease. Reduce the complexity and it will be that much easier to flip products efficiently, please your customers and enjoy a stellar reputation as a top eBay seller.