The website eBay is an online auction website where people can buy and sell goods. It was founded in 1995 by Pierre Omidyar. It is currently a global marketplace with a wide range of items for sale, ranging from antiques to automobiles to computers and more. If it can be bought or sold, you will find it on eBay.
What all of this means is that if you need money and want money fast, eBay is the perfect solution.
Making The Most Money From eBay
So, you have something to sell and you want to make as much money as possible, just how do you do that? Well, there certainly are some tips or hacks that can greatly increase your profit. Here are a few of the bigger ones that you should put into effect on your next auction listing.
Use Good Pictures
So many people just throw up a stock image or a poorly shot picture of an item for sell. This does not instill faith in potential buyers.
Take the time to put up the maximum amount of pictures allowed by eBay without extra charges. Be sure that the pictures are clear and high quality and that the product you are selling has been captured from every angle.
Having better pictures will induce people to bid on your item and will protect you in case of disputes. It will be much harder for a potential buyer to say that you did not reveal damage or defects if you included a clear picture of it.
Write A Good Description
Just like with pictures, a good description can help a buyer determine if the product is truly what they are looking for. Remove these doubts and you will have a bidder who is willing to bid higher.
Better and longer descriptions also allow your auction to rank for more keywords and get in front of more buyers.
Copy Your Competitors
If you are just getting started with selling online, see how similar listings are being constructed and copy them. Look to sellers with a lengthy history and see what they do. Your competitors have likely learned many lessons in the past and it is better to learn from someone else’s mistakes rather than make them yourself.
Use 10 Day Auctions
The more time that your listing is on eBay, the more buyers you can attract.
List your items for 10 days instead of 7 and increase your exposure time by almost 50 percent. That will almost certainly lead to higher bids and most buyers are patient. There might be some buyers who could be impatient but most of them would be shopping the “buy it now” listings anyway.
Offer Free Shipping
It might seem like money out of your pocket, but many buyers only look for listings that offer free shipping. By not offering to ship for free, you could be limiting your exposure because people click that little box that says “free shipping”. More exposure means more bidders, which will generally offset the cost of free shipping and probably end up making you more money.
Choose A Good End Time
You might be a night owl, but your bidder is not necessarily going to be the same way. You never want to list your auction in the middle of the night, because that means that it will end in the middle of the night. List your auction during the daytime, so that the majority of bidders can be up and online at the end of the auction. The last few minutes of an auction are almost always the time that bids go the highest.
Using eBay As A Side Hustle
After you make your sale on eBay, you might get the fever and decide that you want to make more money. Auctions can be a very fun and very profitable way to earn extra money. So, how can you turn eBay into a profitable side hustle? Easy, you need to learn to buy cheap and sell high.
There are a number of places that you can buy merchandise locally for resale.
One option is an online classified website, with the two most popular being Facebook Marketplace and Craigslist. If you know your product, you can easily spot the deals and purchase them with the intent of reselling them.
Another option is the local thrift store. Even places like Goodwill will have hidden gems that you can purchase and make back double or even triple your money. Once again, you just need to know the product and what it is worth. Because of this, you should try to focus on one or two categories of products in the beginning. Try to be a jack of all trades and you will get burned from time to time.
Once you have your items, clean them up and list them on eBay. Use the tips at the top of the page and you should be able to maximize your return.
When you sell an item, keep some of your profit and put it back into increasing your inventory. Before you know it, you could have quite the profitable eBay resale shop.
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