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How to get rich on eBay

by Phil Planet

Created on: April 23, 2008

I have sold stuff on Ebay for a few years now. I used to work for a large audio company in Manchester (UK). My job was to handle all the Ebay sales right from insertion of the adds to the finalizing of deals over the phone.(Not always necessary if you are just selling private).

Selling on Ebay is not only financially rewarding but can be interesting and sometimes even exciting! It is a great buzz when an auction is coming to an end and there are a few people bidding against each other. I have also made friends with people who I have sold to.

Before you do anything you should consider how you will accept payment. Of all the many sales I have made on there I would say over 90% paid using Pay Pal, If you don't have an account already I would open one before you start. Most people have Pay Pal accounts on Ebay and most prefer to pay using this method, You can find extensive help on their site, It's also a good idea to get your account verified, Again you will find how to do this on their site.

The next step is to make sure you have a good photo or photo's of the item/s you want to sell. This is essential in my opinion as it lets a potential buyer see that you have exactly what they want. A good tip here is have a look on the Internet for pics of your item. You can more often than not find great pics in a few minutes, If you do this just say in your add its not the actual item, the main thing is that it's the exact model you are selling. The first pic is free but you can have extra ones for around 12pence.

Take time with your article description. Make sure you put everything a potential buyer would need to know. Failing to do this can loose bids, For instance don't assume that no one will be bothered about color just because your not. You can never put to much information. Technical Specification, weight and size are also important. if you do not have any of this to hand you can always get descriptions and spec from manufacturers web sites, paste them into word and build your add around it.

Postage, Shipping and packaging is really important. The first thing to do is find a good courier. A decent one will have a weight to price table. Make sure you have some scales, I use digital bathroom scales for heavier items and kitchen scales for lighter stuff. Again weigh and price shipping and packaging BEFORE you place your items. Its pointless if shipping ends up more than the item costs. Shipping/postage is paid for by the winning bidder. Don't be tempted to add a bit on the shipping it will just loose you sales, always state the weight, courier and price.

Once your item is sold don't hang about, I cannot stress how important it is to send of the item to your customer the minute the cash is in your account, (Normally 3/5 days from end of auction. There is a facility on Ebay to print an invoice/receipt out. Make sure your packing is neat and will protect the item whilst in transit. Quick dispatch and good packaging is a must, (Get a parcel tape dispenser) Following these rules will result in good feedback and stars, In turn they will pay off in more sales.

A final note on Auction V Buy Now, I prefer auction myself unless you have lots of something. I always put a starting bid of 1, You can have a reserve but you have to pay for that service, Don't worry If you are 5 days into the auction and have no bids, most people just watch and bid at the last minute, (I do).

My best sales so far was an original Sex Pistols poster, bought for 1.50pence, Sold for: 385.00, (This was a joy to package) I also sold an old Mercedes 200 series, bought for 250.00, Sold for 2.950.00!

Happy Ebaying folks and good luck.

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