1. Register and create a seller's account. It’s free to sign up and takes just a few minutes. You can also elect to automatically accept credit cards and checking account payments through PayPal.
2. Create your auction listing. You choose to either accept bids for the item (which is the typical online auction) or you can allow what is known as a “Buy It Now” option, which allows buyers to purchase the item immediately at a set price. It’s important that you list it in the most appropriate category. You also need to have a compelling title for your auction and descriptive copy explaining what you’re offering. Pictures of the item can also be helpful.
3. Watch and wait - The bidding opens at the price you specify and remains on eBay for the number of days you choose - the average being 7 days. People who want to buy the item then bid on it electronically via their browser at the ebay web site. Once your auction goes live, just sit back and watch as other eBay members bid on your listing.
According to eBay, statistics show that 61% of items listed on eBay get bids, and 40% of the auctions actually result in a sale.
4. Get paid & ship it - When the listing period ends, the person with the highest bid wins the right to buy the item at that price. You then collect payment and ship the item. When your auction is over, you’ll receive an email with simple instructions to help you complete the sale.
What should you sell on eBay?
It certainly helps to sell what people want to buy. So let me give you an idea of what people are buying on ebay right now:
- Antiques - more than 2,000 bids are placed on Antiques and artwork every hour.
- Jewelry - Nearly 5,000 diamond pieces and 7,500 gold pieces are sold every week.
- Arts and crafts - In 2004, more than $38 million worth of crafts and supplies were sold. A craft item sells every 9 seconds.
- Fashion - More than 30,000 clothing, footwear, & accessory items are sold every day.
- Toys - More than 375 die-cast cars, 100 Barbie dolls, 200 action figures, and 250 games are sold every hour.
- Photography - More than $190 million worth of photography items were sold through eBay in 2004.
Aside from selling what people want, it also helps if you offer items:
- You are knowledgeable about
- That interest you, and
- That you can buy and re-sell with enough profit left over so they’re worth selling in the first place.
Where can you find items to sell on eBay?
- Your own neighborhood - Check out garage sales, flea markets, & thrift shops. Never forget that many of the things that people throw away - or sell for next to nothing - might have considerable value to someone, somewhere, on eBay.
- Visit trade shows - This will help you locate new supplier sources. And you can ask around to find out what the hot sellers are.
- Wholesalers and manufacturers - Hunt down the companies who sell what you want to sell. They can be located in your area, or anywhere in the world.
- Drop-shippers - Consider using companies who will ship the item directly to the buyer without you ever having to handle it.
Before you jump in and join the world’s biggest marketplace, be sure to first read everything that you can on the eBay site, especially their helpful tutorials.
135 million people are already doing it. So maybe, now it’s your turn? Go ahead, give it a shot - have fun, be careful, and go make some money.
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