1. Buy on eBay before you sell
I get emails from people all the time wanting to know how to make money selling on eBay. The first question I ask them is if they have bought anything on eBay. Amazingly a lot of them say no. You really need to buy on eBay to understand how the platform works and what eBay looks like from the buyer's point of view. You will never be successful selling on eBay until you learn to buy.
2. Learn to sell on eBay by selling on eBay
The best way to start selling on eBay is to actually start selling on eBay. Yes, there are some things to learn, but take your time, look at the eBay help files (and these tips) and just start selling. You will make some mistakes—we all do. But don't get frustrated or give up. You will get better with experience.
Also, selling will make you a better buyer. You will understand things from the seller's point of view and learn other ways to spot bargains.
3. The best types of products to sell on eBay
Everyone wants to sell the latest consumer product, but the truth is there is a lot of competition from established sellers and even big online companies that have special deals with eBay. The best item to sell on eBay is something used or a very specialized (niche) product that few others are selling.
You can buy virtually anything used: clothing, books, computers, DVDs, Stereo equipment, and so on. If you are going to sell new goods, make sure you can buy them cheaply enough to sell and make a profit. One source is the closeout and liquidation companies that sell overstocks and seasonal items returned by department stores. Here is a link to a Free Wholesale Search Engine. I also offer an inexpensive product called My Top 20 Wholesale Sources for eBay Sellers. This is a great place to find good wholesale sources that will work with eBay sellers. These are not perfect or complete resources—they are just a place to start. Be a little careful with the Wholesale Search Engine. It is a search engine and I can't control what shows up there. So just because a company comes up in a search that doesn't mean I endorse it.
Another great product area is consumables. The idea here is to get repeat business via your website from customers who buy from you on eBay. One of the best selling products from The Auction Seller's Resource is the Wholesale Buying System (WBS). This tells you how, what, and where to buy products to sell on eBay. The WBS comes with access to a members-only website where you can access thousands of wholesale companies directly. The website is updated monthly to add new sources.
4. Master niche marketing and specialize for success
This is home-plate for your success strategy. Find your own niche. Define your market. Then you can know the type of person you're going to be selling to and the types of product you want to sell. You will also have less competition.
Forget trying to sell computers, digital cameras, iPods and plasma TVs. There is no way you can compete with the big guys unless you have tons of money. And those drop ship web sites and programs that claim to have those products are mostly scams. Find a small niche --or several small niches that you can dominate.
Along with being in a superior position to take advantage of repeat business, the benefits from becoming specialized are endless. If you know more about your product area, you will be able to buy at better prices and people who sense you specialize in something will be more comfortable buying from you.
5. Become an expert in your field
Become an authority on what you do in your online auction business. It doesn’t matter if you sell fishing lures, ink cartridges or collectible glass -- you want to be thought of before anyone else.
When you become an authority in your field, a whole new universe of business and opportunity is opened up to you. I buy certain types of things on eBay from the same sellers over and over. I wouldn't dare do business with anyone else, not when they have proven themselves and their product.
You want to earn that same type of position in the minds of eBayer's for your niche. Also continue your auction education. Read books and training manuals, visit the chat and message boards, attend an eBay University when it comes to your town, go to eBay Live, and keep learning all the time.
6. Increase sales by putting audio in your auctions
I began using audio (voice) in my auctions in May of 2004. I saw an immediate increase in sales. For example, I sell expensive fire pit barbeques ($200+). Before using audio, I was selling one or two a week. Once I put audio in my auctions I started selling almost one a day. The same thing happened with my EZ Cube Photo Studios. I was selling about two a week on eBay. When I added audio to my auctions with Seller's Voice, my sales more than doubled. Now I sell at least four and sometimes five or six units a week.
We also sell Starbucks collectibles. I ran a test of identical auctions with and without audio. Every auction with audio got more bidders and sold for a higher price—in some cases as much as 22 percent higher!
I use a company called Seller's Voice for my audio. It is so easy. I just dial an 800 number, record my message and then go to their website and copy a short line of code to paste into my auction. If you launch your auction first, you can also record the message and just type the auction number into the phone and they will paste it in for you.
7. Get a sales tax number
Contact the sales tax authority in your county or state offices to get a sales tax number. This enables you to buy from many wholesale companies that would not deal with you otherwise.
If you are not sure who to contact in your state, just call your local chamber of commerce and they will advise you or give you the phone number or website address to register. If you go to the FREE Articles page on our web site there is an article on state sales taxes with a link to all of the state websites where you can apply on line.
8. Automate your auctions
Automate your auctions with an auction management service. I have tried several companies and have finally settled on Vendio. They provide auction templates where you type in your headlines and text, insert your images, set your price, terms, length of auction, and schedule your auctions to launch at any day or time you specify.
These services also track your inventory and sales, send automated emails to customers, provide a PayPal or credit card gateway, and automatically post feedback once payment is received. People are often hesitant to pay a monthly fee to an auction management company, but believe me, over time they really save you money and they are far better than eBay's tools such as Turbo Lister and Selling Manager.
You should also invest in software to print labels. The website www.edicia.com is a good resource. You can get a great deal on label printers and scales that integrate right into your computer.
9. Build credibility
Be trustworthy. Remove every doubt about your credibility. You can do this through presenting yourself positively through your feedback, being passionately devoted to your business and by being an expert. Create an About Me Page on eBay. A photo of yourself will humanize the online experience and can bring amazing results. One with your dog or cat in the picture is even better.
10. Your auction headline and item description is where it all begins.
Your headline is your advertising and your item description is your salesperson. On the web, how your potential buyer perceives you and your product is everything.
Be sure to use power words in your auction title (headline). Rare, Unique, Powerful, New, Unusual, Stunning, Top Notch, First Class, etc. Just be sure not to exaggerate. Don't call something "rare" if it is not.
Copy writing is the art of showcasing yourself and what you sell to your buyer in the best possible light. It's the most important thing you have going for you. A carefully crafted sales letter (item description) can increase your results exponentially without having to spend an extra penny.
11. Use keywords in your auction headline (title) and description
Remember that almost all eBay bidders find what they are looking for by using the search function. Be sure to use carefully chosen and accurate keywords in your title and description. eBay gives you 55 characters in your title. Be sure to use all of them. This will help you get hits. Important keywords include the brand, color, size, and model number.
12. Stand behind your product and service
We offer an unconditional money-back guarantee on everything we sell. This has been our practice since our first day on eBay. Now if you are selling cars or houses or "as-is" used goods that may not be a good idea, but the simple offer of a satisfaction guarantee will dramatically increase your sales.
Even unhappy people rarely go to the trouble of sending something back. The cost of providing the few refunds will be far out weighed by the increased volume of your sales. At the very least offer a guarantee that your items are exactly as described and you will give a full refund if they are not. You must spell out your return policy clearly at the end of your auction description and/or in the form eBay gives you to do this. Even if your returns policy is "no returns" eBay requires you to include it.
13. Set up an eBay Store
eBay Store listing fees are lower than for non-stores sellers. The inventory shows up in the main search results (just like any other 30 day fixed price listing). There are many extras that eBay Stores sellers receive, but based on price alone, you are probably ready for a Store once you are selling 55 or more items through fixed price listings per month. That is the break-even point between the fees and the Store Basic level subscription.
14. Launch more but shorter auctions
eBay places auctions ending soonest higher in the search results. If you have identical merchandise, run shorter auctions more often. This way you will show up in the Time Ending Soonest and Best Match search orders more often. You will pay a little more in listing fees, but your should make this up by selling more items.
15. Use an email signature
One great free way to promote your auction business is by using an email signature. Signatures are six to eight line inserts at the end of your email messages. All email programs support them. Your signature should include a description of what you sell and a hyperlink to your eBay store or your about me page. Set it up to automatically put your signature at the end of every email so you don't have to type it each time.
16. Automate your shipping and save time and money at the post office
If you don't have much time to spend at the post office, and I'm sure you don't, prepare in advance. You can have all of your mailing supplies sent to you by the USPS and UPS.
Visit http://www.usps.gov and http://ups.com for more details. eBay and PayPal now have an automated shipping system integrated with UPS and USPS right on their site.
If you ship via USPS Priority Mail (a favorite option for eBay sellers) you can use delivery confirmation to track your packages. It is free if you do it on line at http://www.usps.com or it costs 70 cents to do it at the post office window. You can use delivery confirmation for parcel post and first class parcels, but it is not free online, and costs 80 cents at the post office.
PayPal now also offers the ability to pay for your shipping online. Also, you get a better rate through the USPS if you pay either online through its site, or through PayPal.
17. Building a high Feedback Score quickly
Here is a quick way to build good feedback: Sell something at a very low price, such as an inexpensive baseball card for a dollar. Put up a fixed price listing for 50 of the item you are selling. Don't worry about making money; just try to break even. Mail the cards out quickly, post great feedback for each buyer and send each buyer an email politely asking each of them to return the favor. Be sure to include the hyperlink to the feedback post in your email.
18. Where to get free shipping supplies?
If you send your items via USPS priority mail the post office will give you free envelopes, tape, and boxes. Think this through. If you pay the priority mail fee, and get free boxes, that is often close to what UPS charges when you add in the cost of a box.
Another source for free shipping supplies is your local gift shop or kitchen shop. These merchants receive merchandise in good boxes everyday with plenty of bubble-pak and Styrofoam peanuts that they simply throw away or pay to have recycled. Get friendly with your local gift shop and you can have access to tons of free shipping suppliers.
19. Sign Up for BuySafe if you sell expensive products
If you sell expensive goods, BuySAFE is a company that provides fraud insurance to your buyers. It costs a little to sign up, but BuySAFE has plenty of evidence that shows that using BuySAFE in your auctions will increase your bids and final values much more than the cost of their service. Sign up at www.buysafe.com.
20. Sell SquareTrade Warranties
If you sell electronics or cameras, you can make extra money by offering a warranty on your products through SquareTrade at www.squaretrade.com.
This looks great, I sooo need to try this soon! Thanks!
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