How to Make Money From eBay?
Learn how to Sell on eBay & Realistically Make Money (2021). Some profitable eBay selling tips.
eBay is an online shopping website that is well known for its auctions and consumer to consumer sales. If you are in search of making money by entering some details online, then selling products on eBay could be your hand at the help.
Sellers on eBay are making more than $1000 a week and more than $5000 a month without any hard methods or steps accounted for, all thanks to the eBay seller community.
Put in a little time reading the steps below, and make sure your investment does come up with something fruitful.
1. Getting started with eBay
For selling on eBay, you will need an account. This account can be operated both as a seller and a buyer.
Head over to the eBay website and register yourself, give a proper username that is neither too fancy and nor offensive
Fees and PayPal account
When you have to sell on eBay be sure to check the fees section, although eBay is free selling on eBay comes with a price that you will have to pay. eBay comes with three subscriptions, but if you are a new user you can operate under the standard agreement which allows you to list only 50 products and a final fee of 10% which is the fee levied upon the selling of your product successfully.
Many buyers when buying products from eBay tend to limit search auction options,” Show sellers who take PayPal only”.
This is a convenient method to get away with the hassle of mailing a check or searching for other options of payment. Almost 93% of the sellers on Paypal work with a PayPal account to avoid any discrepancies while receiving or sending payments.
2. LISTING
Choose how you want to sell
When eBay was launched earlier it served only as an auction website but now it provides different options for you to sell your products on eBay for the right price and under the right amount of time. When listing products on eBay, always consider how quickly you want to sell your products, whether you will let it go for a price lower than your expectations and how much effort you will be ready to put in it for selling.
Traditional Auctions
In traditional auctions, you list your product for x number of days and will let the buyers bid on it. After x number of days, whatever will be the highest bid on your product it will be sold on that. Buyers are more likely to buy products from eBay when they are on auction sale, so if you are thinking of putting your product on auction sale you could be at profit, but the chances of receiving a bid that is higher than your expected profit are always less.
So, you will have to take your chances considerably. Sellers with a feedback rating of 10 get to put their products on auction for 1 Day sale also, they can also choose 3,5,7 as the number of days they want their auction to last.
Reserve, Buy it Now (BIN), and Best Offer
A reserve is a minimum bid you must receive to sell your item, any bid lower than that won’t be considered legit and will be ignored and refused to sell to. eBay also charges a fee when you put a reserve to an auction.
Buy it now (BIN) feature lets you set a price tag right from the point you list your product on eBay. Buyers will see the listing and the BIN price and will rather purchase it quickly. BIN is great for getting your product sold rather quickly or moving on to the next listing until sold.
Best Offer is the price any buyer can send you in for your listing, that price might be less than BIN or greater than BIN. It's your choice whether to accept the offer or keep the Best price on hold until you get a buyer giving you the BIN price.
Decide your Price
The best way to decide the price for an item is to look upon similar products sold at the same listing option as yours. For this go in advanced search and check for the completed listings, look for the product which is similar to yours in as many ways as possible whether it be the colour, size, brand, etc. When deciding on how much to charge keep in mind all the expenses you will have to bear like fees, shipping, Packaging, and cost of the item. You can be at a loss if your calculations are not correct.
Include Pictures
“Words don’t have the power to lure as compared to pictures”, don’t just talk about your item. Show the buyer what they will be getting after spending hard-earned dollars, try to post as many pictures as possible from different viewing angles to represent the best of your product. Don’t just post your listing with mere description and without any pictures. Products without pictures have more chances of getting not the right audience base.
As of July 13, 2013, eBay made posting at least one picture of the product mandatory. Pictures should have no borders and no seller watermark as well.
Shipping
After clicking pictures of the item, pack and weigh it to get an estimate of the shipping costs which might incur to you in case of free shipping. You can choose “calculate shipping”, which helps in getting an estimate of the shipping cost based on the buyer's postal zip code. Try to give free shipping, Free shipping attracts more buyers and helps in getting higher placement in search results.
Once a free shipping transaction is confirmed it helps to get a 5-star rating on your “Shipping and Handling charges detailed Seller Rating”.
Description
Try to write a good description, instead of including the features try to count upon all the benefits of the item. To write a detailed description you can see upon these,
- Write a clear Title
- Write all the pertinent Information
- Write upon all the Benefits.
3. TRANSACTION
After the item has been sent you need to complete the transaction and ask for the amount or the cost of the item by contacting the buyer through eBay.
To complete a transaction you need to,
- Contact the buyer after the buyer buys your product. Verify the details like the cost of the item, total tax, shipping cost, shipping date, expected date of delivery, etc.
- Before you ship the product, you have to ask for payment from the buyer. Buyers are punctual about paying on time but if someone fails or forgets to pay, then you can ask for the payment from the buyer. After shipping, if any buyer fails to pay the cost of the item then you can go to “eBay resolution Center” and file an unpaid item case.
- As soon as you receive the payment, you can ship the item to the buyer. Make sure the item is properly packed and reaches the buyer on the expected date of delivery.
- Leave Feedback for the buyer and pay the eBay final fees.
4. GROWTH
After you have started your eBay business and have sold your first item, the next thing which comes to mind is how to grow that business. Let's talk about that too below,
- Always be a great communicator, respond to the texts or queries from buyers regarding your product that they wish to buy in the coming future.
- Giving feedback about the buyer is always mandatory, you should do it and do it in a timely way. eBay runs on reputations so be generous and give timely feedback.
- Find the interest of the buyer community and make wholesale of those products.
- You can become a Power-seller too to increase your business grasp. To become a Power Seller, you should be an active member for 90 days, comply with all eBay policies, and should have an overall rating of 100 including 98% of the rating as positive.
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