This is a featured guest post that we are publishing this morning. It is truly an awesome post and will help you learn how to make money selling stuff on eBay. We hope you enjoy this nice little break from all of our ranting about free paid surveys. Enjoy the post!!!
The online auction site eBay has been around for a long time. However, I am still amazed at how many people use it to earn extra income just be selling stuff. There are some secret strategies to earn extra income selling on eBay but there is one thing that is not a secret to success: buy low, sell high.
If you sell items on eBay for a higher price than your cost to purchase them, you can make a profit. Do this many times a day or week and you can create a whole new income stream for your family. It’s free to list up to 50 Auction-Style listings per month on eBay so if you can make a $20 profit on fifty sales, you will earn an extra $1,000 per month. That’s a life changer. So without further ado, here are the five secret strategies to earn extra income selling on eBay.
1) Use Extra Categories
For no extra charge, eBay allows you to market products in TWO categories. For example, if you are selling baseball cards, you can choose the obvious category of Sports Memorabilia/Cards but don’t forget to take advantage of the free second category. In this example you could also select the Collectibles category. This exposes your product to more potential buyers.
2) Slick Product Photos
One of the most important elements to an eBay listing is photos. Take great pictures. The more pictures the better. Show your item from different angles. Lighting is the key to taking excellent photos. Don’t be sloppy. Experiment until you get the best shots you can. eBay recommends that you set the digital camera to a medium or higher resolution (for example, 1024×768 pixels or larger).
3) Price Is Right
Before creating your eBay listing, do some research. Look for same or similar products being sold so that you can understand the range of prices already in the marketplace. This is your competition. Find out what items like yours are selling for
(including the shipping costs), since buyers look at the total cost of the item when making a purchase decision.
4) Research Completed Listings
A useful tool that eBay offers is the ability to look at completed listings from the past fifteen days. Type 2 or 3 keywords that describe your item into the search box on any eBay page. Check the box for Completed Listings to narrow your search results. Prices in green are items that successfully sold. Those in red did not. Use this intelligence to compare successful and unsuccessful listings so that you can create your own best listing.
5) Follow The Rules
The last thing you need is to invest your time in creating a great looking eBay listing only to have it shut down because you accidentally violated an eBay policy. Take time to familiarize yourself with some basic rules. For example, do not borrow text or images (photos) from other listings on eBay, other websites or catalogs. Your pictures should be original. eBay has a whole page dedicated to creating legally compliant listings.
Treat Just Like Your Job
Just like anything else in life, practice makes perfect. The more eBay listings you create the better you will get at it. Although these secret strategies to earn extra income selling on eBay can serve as a good starting point, nothing beats experience.
Don’t get frustrated after the first or second try. You can’t learn how to play the piano or drive a car safely in just one or two sessions. It takes focus and practice. If you are serious about earning extra income to reduce your debt and build more savings, and working on the computer is fun for you then selling stuff on eBay could be a good fit for you.
About The Author
Randy Mitchelson is an entrepreneur, author, personal finance expert and community activist. Mitchelson owns National Web Leads, LLC an Internet advertising and lead generation services company. He publishes the DailyDollar™ helping consumers save money or earn extra income with free and easy to read personal finance tips. U.S. News and World Report named DailyDollar to its list of 8 Savvy Personal Financial Podcasts. Mitchelson earned his BS and MBA at Rensselaer in Troy, NY.