Your earning potential on eBay is practically limitless. Take into account these tips and tricks in order to get ahead of the game.
- Start by making a purchase and a sale. Possibly even sell that item you bought. This will get you in touch with the mechanics of how everything works. It will also give you a feel for if this is something you want to pursue. Not everyone can be a salesman.
- Next, you’re going to want to find something to sell. Not just anything and probably not just what seems to be “hot” right now. More than likely you’ll want to sell something you would buy. Having interest in your product is key. If you love fashion and could recommend me an outfit sure to make me look good on my next job interview, why would you try to sell me power tools? Not saying it’s impossible, just that it’s easier if you already have prior knowledge or a passion for something. Know your market
- Go for wholesale. The more merchandise you have at cheaper prices, obviously is going to show greater profit than selling something you bought at retail price at a higher price. You can often try trade shows. Trade shows aren’t usually for the public so you might also think about getting a tax id. Other places like Sam’s Club and Costco have pretty good deals that you can take advantage of.
- Get positive feedback. Your positive feedback percentage and your feedback score can be the determining factor between choosing you or a competitor. Honestly even if their price is a few dollars higher, in most cases we would pay more just for the peace of mind in knowing that most of their customers were satisfied. You can do this buy giving the buyer a positive rating and ask for them to do the same in return. Usually this isn’t too much to ask.
- Know when to let go. If something isn’t selling maybe its time to lower the price. Be sure to at least try to break even. At times you must change up your inventory. Out with the old in with the new. Again know your market.