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Selling things online is a good way to make some extra cash. I used to go to thrift stores in NYC and buy old Diesel jeans for $20 and sell them on Ebay for $45. Designer men jeans were the easiest thing for me to sell on Ebay, the profit margin was not bad and I was happy because it was extra pocket change. Based on my experience selling on Ebay here are some tips I’d like to share with you to help you make money selling on Ebay.
1. Stick With What You Know
Look for items that you use or are familiar with. You will have a better sense of what it is worth and how to describe it in your Ebay listing. I chose designer men jeans instead of women jeans because I was more familiar with the pants sizes for males and I knew what were some of the popular brands. Limit your risks and go with the products you know about.
2. Check What Price the Item Sold For on Ebay
Before you buy an item check on Ebay to see what it sold for. The key is “What it sold for”. Don’t worry about the different prices other sellers are listing it for, what you care about is how much people actually spent to buy the product. You can download the Ebay app and when out shopping for items to sell do a quick search under the completed listing feature for the item to see what it has actually sold for. Once you know how much the item will sell for you will have a better sense of what your profits will be based on the price you purchase the item for.
3. Buy Good Quality Items
The last thing you want when selling on Ebay is to get a bad review from a buyer saying that you sold them a piece of crap. Make sure to buy items that are in good condition and fully functional. Don’t waste your time with low quality products.
4. Purchase Items with High Margins
Try to sell items that have high profit margins. Keep in mind the costs associated such as Ebay fees and shipping. When I was in thrift stores shopping for items to sell on Ebay I would only choose items that I knew I could make at least $20 profit or more. The reason being is that I had to also factor in the shipping cost to send the product out and also the shipping cost just in case it was returned. You want to make sure that after any unexpected costs you are still left with a decent profit.
5. Maintain 100% Good Feedback on Ebay
As a seller on Ebay you want to do everything you can to make sure the buyer is 100% satisfied. The more good feedback you get, the more trust you will get from buyers which will then lead to more sales. Some ways to maintain good feedback on Ebay are to:
- Clearly describe product
- Ship items quickly
- Communicate with customer
- Package product so that it arrives safely
Once you have all these in place before you know it you will be on your way to being a top seller on Ebay making money in your sleep.
What are some items you have sold on Ebay and what has was your experience?