eBay is often looked at as a place for people to sell their old belongings that they no longer want or need. But the website has grown massively to become a marketplace for both new and used goods with people setting up their own business by selling on eBay.
But if you are unfamiliar with eBay then you might wonder how you create a business and make a living from selling things online. We have put together some top tips for selling things on eBay to help you get the most out of your business venture.
Knowing Your Seller Limits
One of the first things that people are not aware of is that eBay actually places limits on new sellers on how many products you can list. This might halt your idea about buying a load of stock in bulk and selling it all on eBay to make a quick profit. It also applies to the number of categories you can list products in so this is something you will need to consider. eBay provides a guide to the selling limits online and once you have a history of selling you can apply for your limit to be increased.
Problematic Items List
One of the main ways that new sellers get caught on eBay is by selling items that are commonly problematic. Just like in all places on the internet there are people who are looking for a bargain and are ready to be dishonest or unscrupulous. There are a number of high-risk items that you should avoid selling online to save yourself from these problems
- iPhones or other mobile phones
- Designer clothing or handbags
- Electronic equipment
- Items with multiple parts or components
- Commonly counterfeited items
These are some of the main items that are best to avoid selling when you are setting up a business on eBay as they often cause problems. People can frequently claim the item is broken or counterfeit which can affect your seller profile on eBay.
Research Sold Items
A common misconception when selling items on eBay is that you can expect to get retail price for the items you are selling. Many people have also made the mistake of basing their sale price on a margin of profit based on what they paid in the first place. But you will find that items often sell for less than you might expect on eBay. It is important that you do some research on recently sold items on eBay to get a better idea of what your products will sell for. It is a good idea to do this before you invest in buying products in bulk as you might find the profit margin on your stock is actually too small.
Think About Your Listing Type
eBay became famous as an auction site and this often attracts interest from people looking for a bargain. However, as the site has grown, auctions are no longer as competitive and you might not get as much as you might like for certain items. This gives you the option to list your item with a fixed price or “Buy It Now” option. You can actually give users two options and start an auction price at lower than the fixed price. Whichever bidding option you decide to choose, you should make sure that you list the product for at least the minimum price you are happy to sell it for or to make a profit from it.
What About Shipping Costs?
This is one of the most important aspects that you will have to consider when listing your items as it can leave you out of pocket if not done properly. Selling products online can be extremely competitive in the modern marketplace and many websites such as Amazon offer free shipping or next day delivery. This can make your product look less attractive if the buyer has to pay shipping on top of this but you can offer free shipping on eBay. If you have smaller items that have a flat rate for shipping then you could simply include this in the price of your product. The cost is minimal for smaller items and shouldn’t increase your product price by too much. However, always add shipping costs for large or heavy items as you could incur additional costs to send this over a long distance.
Think About Storage
You should also consider where you are going to store all of the items you plan on selling through eBay, as it can often work out cheaper to buy items in bulk. But you probably don’t want your home to be taken over by lots of items you are waiting to sell. If you have expanded your seller limit and want to increase your product inventory, then you should consider self storage to help grow your business. We offer flexible storage so you can increase or decrease the size of your unit to meet your needs. You can treat your storage unit as a business hub and keep all packaging items here too.
These are the six top tips for selling things on eBay and are great tips for getting started but there are plenty more ways you can improve your seller profile online. One of the main things you should focus on is getting feedback from your customers to build a level of trust. By providing a high level of service and following up on purchases with emails you can help to drive reviews to your seller profile. Make sure that you also include a fair and clear returns policy on your products to help customers feel secure in purchasing items from you.