You may have heard of eBay. It is a place many people go to buy and sell various items online. eBay allows users to post items for sale and collect the cash through PayPal. Some users utilize the website as their main source of income. How do they make that much money on eBay?
Open an Account
Obviously, the first thing anyone must do before they start making money on eBay is open an account. However, you need to open more than one kind of account to truly get started on eBay. You will need to open both an eBay seller account as well as a PayPal account.
Making Money on eBay
You may have heard many people complain that eBay is a lot of work that doesn’t truly pay off. Many people go to eBay to sell things like jeans they don’t wear or jewelry they don’t use. No matter what you are trying to sell, you can sell it on eBay. However, the manner in which you approach the sale can make all the difference.
- Take a picture: In order to post an item for sale on eBay, you are required to post a photo as well. The quality and quantity of photos that you post can make all the difference though. You should post clear photos that are not blurry and that do not look old. You should also post more pictures than the usual posting. You can use outside managing apps so that you do not have to pay eBay’s fee for additional photos. This is the first key step into making money on eBay.
- Description: Make sure your description of the item is complete and is keyword search optimized. This means that your title and your description should be spot on. Make sure everything is spelled correctly (this is really important). One letter can make the difference between whether you sell your item or not. Not many people are searching for “Hucci handbags.”
- Do some research: Look into whether there is a market for the item you are selling or not. You can do a simple Google search on your item, find out if it is in high demand and also be able to find the right price for the listing. Researching the items will also help you with the keyword optimization of your listing.
- Timing may mean everything: eBay listings last for about 10 days. If you post your listing on a Thursday, the 10 days will last over the span of two weekends. More people are shopping on eBay over the weekends, so this can greatly benefit your selling price.
- Pricing: You want to have a competitive price. When you do your research, look at what the item is selling for and post a competitive price. If you do this as an auction, you may be able to get more money than most other people if there are enough interested parties. Either way, you’ll be getting it out of your home and sold for some extra cash.
- Find a niche: If you can find a niche department on eBay to sell within, that is ideal. Of course, if you aim to make a living with eBay, this shouldn’t be a problem. You can buy a significant lot of something (Legos, porcelain dolls, hobbies, etc.).
You can make a significant amount of money on eBay, especially if you have the time to spend with it. Many retirees use it as supplemental income. Other people use it as primary income and some people use it to simply sell some extra items they have around the house. Whatever the case may be, there is a way to make extra money on eBay.
Photo: Flickr: Mike Knell