How to Make Money on eBay
Selling products is one of the ways to make money on eBay. The first questions
eBay sellers should ask themselves are: "What can I sell?" and "Where can I
buy?" It's important that you spend some time researching before you decide
which products you want to sell.
There are nearly 69 million eBay users who collectively spend $59 million every
day. Most eBay sellers are home-based businesses that sell everything from
porcelain dolls to locks of Elvis's hair to $100,000 Mercedes convertibles.
Every minute of every day more than 150 new items are listed for sale, more than
500 bids are placed and seven new people register to shop on eBay. About two
million new items are offered for sale every day, and 62 million registered
users scour the site to find them.
All these facts are enough to assure you that there plenty of ways to receive
your share of the eBay money pie. These basic guidelines can help you make money on eBay:
1. Search for the categories that are most popular. The first index is the
number of listings that exist under each category. You also need to look at how
many bids the products have.
2. Study the ratings of the sellers who are listing products in each category
and read their profiles. See how many products they're selling and how many
products they've sold in the past.
3. Analyze prices. You need to become an expert in your category and you need to
know at which price a product is worth buying as well as the expected final
winning price of your auction.
4. Select no more than one or two categories. "Specialization" is a basic rule
of marketing. It is better to become an expert on something than know only a
little on lots of things. Experts inspire trust and confidence in potential
customers. Online marketing is all about trust.
Once you've done the above, you're almost ready to make money on eBay. Before
starting to sell, you need to buy. Here are some ideas from where you can source products:
1. Write your own e-book and sell it. If you have any passion or are an expert
on a subject for which you can find a niche in eBay, do not hesitate to spend
some time writing your own book.
The advantage of this is that after your initial time investment, you can sell
copies of the book without having any additional costs, as e-books are digital.
Selling information products is one of the most profitable ways of earning money
on the eBay business. Even if you're not an expert writer, you can find other
people who can write the book for you, eg www.elance.com.
2. Use drop-shipping. There are wholesalers that will sell you products and send
them to the address that you tell them.