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If you're looking to
make extra money online and have stuff to sell, whether it's new
or used, you don't necessarily need a website.
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Website's cost a fair bit of money
and time to set up and if you can't design one yourself, web
design prices are high. Even if you do manage to get a website
online - it takes a huge effort to draw visitors to your website
and usually several months to get it off the ground. This page
explains how to make money by selling through online auctions,
specifically via eBay. Hopefully you'll find the selling tips
useful!
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ONLINE
AUCTIONS: If you've been online for any length of time,
you've probably heard of eBay. As the world's largest online
auction site, it attracts millions of visitors every day - instant
browsers and potential customers for any seller.
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GETTING
STARTED: It's free to sign up to sell, once you
register at your local eBay, you can start listing products for
sale almost straight away - no upfront fees, you pay the fees for
all items you've sold after the first 15 days.
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FEES*:
You pay two fees when you sell an item, a listing fee and a
final value fee. Listing fees are based on the price you
start the auction at or the reserve price (if you set one),
listing fees start at just 30c. If your item doesn't sell, you
only pay the listing fee - you can relist (and maybe change your
item description or lower the price to improve your chance of
selling), if it sells the second time - you get the original
listing fee back. The final value fee is based on the
amount of the winning bid. If your item sells for under $25, eBay
takes 5.25% of the closing value. The higher price the item sells
for, the lower percentage eBay takes.
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BE PREPARED: Whether
you're selling new or used goods, there are eager customers
browsing eBay daily ready to buy. First things first, be prepared
- search for similar items to the ones you're planning on selling
- see what price they're going for, then you'll have an idea of
what price to start your item at and also what category to list
the item in. Secondly, research shipping costs - it's better to
state the approximate shipping cost (within your country -
international prices too if you're keen to sell overseas) in
auction, otherwise you'll receive endless emails asking about
shipping costs. Thirdly: state your terms clearly in the item
description: whether you accept bank transfer, money order, pay
pal, credit card - whether you'll send internationally - possibly
state how many days you will hold the item for - state whether you
accept returns or not. Make sure your trading terms are clear -
then you can use the same terms for every auction.
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SUCCESSFUL
LISTING: Buyers
find products based on keywords in the title and/or description.
Write a clear description of your item, make sure you use words
that buyers may search for to find an item like yours. Example: if
you're selling a fairy t-shirt, don't write a general title like
'girls t-shirt size 6', instead make sure you include fairy in the
title - that's the word that is likely to catch your buyer's eye.
Make the description inside very clear - state as many details
about the item as possible, if you're selling a second hand item,
make sure you mention any imperfection in the product - buyers are
more likely to bid instead of mulling it over if they know exactly
what they are bidding on. This can be a pain if you're listing
many very different items, if this is the case - keep the
descriptions short and to the point. You can save time by copying
your selling terms and any other general details down and pasting
them into every auction.
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AFTER
THE AUCTION: You'll
receive an email from eBay once the auction is over, with details
of the winning bid and information about the buyer. I suggest
sending the buyer an email after the auction ends, including your
address for check/money order payment or your bank details so the
buyer can deposit the money directly into your account. Also
include the final price including shipping to their destination.
You can make an email template easy enough and just change the
item details to suit each item. Making sure the buyer has access
to all possible payment methods generally means you'll receive
payment within a few days.
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FEEDBACK:
Once you receive payment, leave feedback about your buyer. This is
important, state whether the buyer was friendly and communicative
or whether they were a problem buyer. You should leave positive,
neutral or negative feedback after every transaction - if you
leave positive feedback, hopefully when they receive their item
safely in the mail, they will return the favour and leave you
positive feedback in return. If you had serious problems with the
buyer, or they end up not paying, you need to leave negative
feedback with details to warn other buyers and sellers. Feedback
is important to a seller because the amount of positive feedback
builds buyer confidence and certain levels must be reached before
eBay will let you sell in certain formats. More feedback allows
you access to; fixed price listings (more like a shop, no
bidding, the buyer pays a set price), opening an eBay shop
(a page where you can give details about your products and where
buyers can easily view all the products you have available) and Buy
It Now listings (you auction the item, but set a higher price
where a customer can buy it instantly if they don't want to wait
the auction out).
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IT'S NOT AS HARD
AS IT SOUNDS!: Successful
selling on eBay isn't hard - it takes a little preparation to
start with, but once you get the ball rolling - it's a great way
to sell your products. Instant access to millions of potential
customers worldwide with a lot less preparation than building up a
website. There is a thriving market for quality products, new or
second hand - particularly great for people selling rare or
unusual collectibles - they can fetch high prices with keen
collectors. If you're curious to see how it works - test the
water, list an item and see how it goes.
Every mistake is
a lesson learned when selling through auctions - it doesn't take
long at all to become a well informed and profitable seller.
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Click through one
of the links below to register to sell on eBay. If you're located
in the UK or Australia, click on the eBay UK or eBay Australia
link. If you're located in the USA, click through to eBay USA.
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*Fees are different
at each regional eBay - see your local eBay for their actual fees
- the fees discussed on this page are from eBay.com - the main
website and are in US dollars. |
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