In part 1 of this 2-part eBay money making tips for success series, we cover pricing and payment options. In this part, we will explore other tips that can be used to make money successfully.
3. Buy items at wholesale prices.
Have you ever been to Sam’s Warehouse or Costco? Do you know why the prices are so low? It’s because they buy them in bulk, and as a result, they can get good prices for the products they buy. So if you want to do the same, you’ll also need to buy in bulk and store them somewhere.
Two decent places to find wholesale products for sale on the Internet are World Wide Brands and Ingram Micro. After buying a good selection of items, your task will be to sell them at a higher price than what you paid for them, which is obviously how you make a profit. Let’s say you buy 200 movie posters for $500 and sell them individually for $10 each: you’ll make a lot of money while saving your customers money, since your alternative might be to pay $20 or more.
4. Avoid shipping large items.
Large items will cause you a lot of trouble, so try to only sell e-books and smaller, lighter items like clothing, video games, and CDs or DVDs. That is, unless you have an agreement with a manufacturer where they will ship their products directly to your customers.
5. Be honest about your location.
If you are selling large items that need to be picked up by your buyers, make sure they have your correct address. If you sell an arcade machine and you live in Houston, chances are someone also from Houston will be willing to pick it up. A person in Detroit is not going to want to do that, of course.
6. Feedback is critical to your success.
The worst thing you want is negative feedback on your eBay history. It will severely damage your credibility and reputation, driving most potential customers away. Many sellers don’t pay attention to this aspect and wonder why people don’t do business with them. Do your best to be courteous and respectful to your buyers once they receive your items. Personal touches like that will go a long way in making money on eBay.
