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How To Start Making Money On Ebay
post Jul 21 2010, 12:14 PM
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Getting started is a fairly straight forward process. Go to eBay and set up a sellers account. You need to fill in some personal information and also have a Paypal account. Once you have a sellers account, you place an ad for your product and set a starting bid. Press the auction button and let the bidding begin. Simple process right? Well, it can be that simple, however to seriously start making money on eBay, the item you sell and the timing of your auction can mean the difference between a few dollars and a few hundred dollars.

What Sells

Finding the right product to sell does not have to be a long drawn out process. Although you can sell anything on eBay, the key to the big money is a product that meets two criteria: less competition and in demand.
You are competing with literally hundreds of thousands of other sellers. With a little research you will find markets that interest you and also have less competition. You have more chance of being seen when competing with 10,000 other sellers versus 100,000. It is never going to be a perfect combination, but the more eyes you get on your products the more sales you will have. The key to success is to find a trend, locate a supplier and stick with your market.

Some great places to do some research on popular trends are:

  • Google Trends
  • Google Keywords
  • Amazon Bestsellers
  • eBay Pulse

Where To Get Product

Once you have an idea of what you want to sell, you need to find a supplier of your product unless it is something you can create yourself. This is probably the most difficult part, however it is key to your success to making money on eBay. There are two choices when it comes to searching out suppliers, dropshippers and wholesalers.
Wholesalers provide great prices on products, through bulk orders. For example, if you are selling handbags you can get a great deal on “lots” of 20 from a wholesaler at $5 per bag. You turn around and sell each hand bag for $20 dollars. You make a $15 profit, minus shipping and eBay fees. Although the individual prices can be great, it does require that you hold an inventory. It should be noted that many eBay Powersellers are making BIG money through wholesalers

Dropshippers may cost a little more per item than wholesalers, but you do not have to carry any inventory or do any shipping. Your customers orders and pays you, you order and pay the dropshipper, the dropshipper ships the item straight to you customer. Spend a few hours searching for dropshippers and wholesalers. A good place to start is Salehoo and Dropshipping Wholesalers.

Quick Tips For Success

Finally here are a few quick tips to help you succeed as an eBay seller:

  • Start the bidding low.
  • Set bids up to end on Sunday and Wednesday evenings. Research shows that there are increases of bids during this time.
  • Include pictures - pictures do say a thousand words.
  • Write detailed descriptions of the product.
  • Research, test and experiment with different markets.
  • Keep your promises.

You can get started with no money out of pocket and be on your way to earning a steady income. Get your feet wet and sell some household items that have been in the attic or garage gathering dust. There is no limit to what you can sell.

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