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How to Start an eBay Consignment Business in Ten Easy Steps

Have you ever wondered how to sell items on eBay? What if you took it a step further after you learned the ropes and sold items for other people? I've been asked to sell items for friends and family without a profit but what if I left a card at yard and garage sales to help them get rid of items that didn't sell?

Actually, they would probably make more money on their items on eBay to begin with because hundreds of people would see their listings 24⁄7. To top this off, line ads in the newspaper are more expensive than an eBay listing ... even with your fee.

The First Steps in Establishing YoureBay Consignment Business

1. PayPal

The very first thing you need to do is establish a PayPal account. It's a bit of a "time thing" as you will need to verify your identity. Part of this process involves verifying that you are the owner of your bank account. When you sign up and input your information, PayPal will send two small amounts to your account. You will then write those amounts down, log into PayPal, click "Verify" and enter those amounts.

PayPal is ROCK solid, almost a Fort Knox, with their security so you don't need to hesitate with giving them your bank account information. If PayPal wasn't as secure as it was, both eBay (who assumed ownership of PayPal) and PayPal would crumble.

I remember once when I lost my login information and I had to almost literally jump through hoops to get PayPal to help me out. Lots of snail mail and email to establish my identity before they would release the information back to me.

Another nice feature that PayPal offers is a MasterCard debit card. You can either download funds to your bank account or use your card as a credit or debit card. In a way, PayPal acts like another financial institution. If all the funds aren't available in your PayPal account when you make a purchase, the remaining amount will be deducted from your bank account automatically.

2. eBay Seller's Account

Once you have set up your PayPal account, it's time to go over to eBay.com and set up your seller's account. You will have all of your payment information for PayPal to input at that time, including where seller's fees will be deducted from (your PayPal account). If you don't have the money in your PayPal account, the fees will be deducted from your listed bank account when you signed up.

Selling on eBay today is relatively simple. You click on "Sell" and you are walked through the process of listing your item(s), including uploading your pictures from your camera.

So, when you're setting up your eBay Consignment business, there are two things to keep in mind with your charges: seller's fee and PayPal fee for the transaction. Frequently eBay has special listing fees on sale and the fees for the transaction vary on PayPal. Be sure to look at both so that you don't take a nose-dive on those with your profits.

In addition, if your client wants you to ship the item(s), you will need to tack on that amount. The United States Postal Service now has flat fees for shipping different sizes of their preprinted priority boxes. You can go to usps.com to figure out those charges beforehand as part of the bill. USPS will also send the different sizes of boxes to you for free, and you can also request "Carrier Pickup" so your carrier can pick up the item(s) during their route (also free).

3. You'll need a Digital Camera

If you want to be professional with this eBay Consignment business, you need a decent digital camera. Pictures are a MUST to get the highest bid amount for the item on sale. People want to see what they're getting (wouldn't you?). Digital cameras are now so affordable that almost anyone can have one. Make sure you buy one that has "SD Card Capability." This is so that you can use the small card to store your pictures on and transfer them easily to your computer when you do the listings for items.

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