Surefire ways to make money on eBay
One of the ways to make money on eBay is sourcing products to sell.
The first questions eBay sellers should ask themselves are: “What can I sell?” and “Where can I buy?”
If you are a business seller, it is fundamental that you spend some time researching before you decide which products you want to sell.
There are nearly 69 million eBay users who spend $59 million every day.
Most eBay sellers are home-based businesses that sell everything from porcelain dolls to locks of Elvis’ hair to $100,000 Mercedes convertibles to $5 million dollar vacation homes.
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 given facts are enough to assure you that there is an abundant of ways to get your share of money on eBay.
Follow these research guidelines on ways to 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. In addition, you need to look at how many bids the products have.
2. Look at the ratings of the sellers who are listing products in each category and study their profiles. See how many products they are selling and how many products they have 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 another basic rule of marketing. It is better to become an expert on something, as this will inspire confidence and trust in your potential customers. Online marketing is all about trust.
Now that you are becoming an eBay expert and have conducted a proper search, you are 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 on writing your own book.
The advantage of this is that after your initial time investment, you can sell and sell copies of the book without having any additional costs.
Selling information products is one of the most profitable ways of earning money on the eBay business. Even if you are not an expert writer, you can find other people who can write the book for you.
2. Use drop-shipping. There are wholesalers that will sell you products and send them to the address that you tell them.
The advantage of this source is that you do not need to carry inventories, so your investments are minimized. After your auction is finished, you send them your customers address and they will do all the shipping. If you decide to use this kind of source, you need to make sure that your auctions winning price can be higher than the price you will pay for the articles. At minimum you should expect to double your costs.
3. Buy from eBay. Many eBayers success comes from knowing how to buy well on eBay and sell the same products at a higher price. If you know your category very well, you can easily find opportunities that will allow you to buy and resell making profit. Again, solid research is fundamental.
4. Buy Asiatic products. If you are willing to carry some inventories, you can invest on Asiatic products and buy them for a very cheap price. You can easily start importing Asiatic products from the Internet at www.alibaba.com.
5. Sell local products. If you live in an area that produces local products which can be bought at a cheap price and shipped to other areas where people would pay more, you should take advantage of the situation.