My 12 tips for selling on eBay are designed to help you to make as much money as possible. It’s all too easy to make what many would regard as a minor mistake that could finish putting a sizeable dent in your profits.
Although my list is compiled with the home based business person in mind they equally apply if you are just clearing out unwanted items from home.
12 Tips for selling on eBay
- Always try to begin your eBay career by selling personal items that are superfluous to requirements. You will rapidly learn how to take and upload photographs, compose titles and write good descriptions.
- Items with brand names always sell better than unbranded ones. ‘Sony 50” TV’ is more powerful than just ’50” TV’
- Getting the title right is absolutely vital and could mean your item selling rather than that of the competition. Don’t waste characters on words that no one will search for. People rarely put in model numbers or adjectives like nice, beautiful, comfortable etc. But do include keywords related to the product if you have the space.
- Your description should be comprehensive. Include everything that you would like to see there including, colors, dimensions, weight etc. Be honest and use spell check.
- Find out what you should be selling for by filling in the search box on eBay with your item description, then click on ‘completed items’ in the left hand side bar to discover what they sold for.
- If you need to save space in the title bar there are abbreviations commonly used on eBay. BN – brand new, BNWT – brand new with tags, BNIB – brand new in box, BIN – buy it now and VGC – very good condition. Only use these if absolutely necessary.
- Be careful with auction ending times. You don’t want them ending in the middle of the night. This sometimes happens when listing in a country other than your own.
- It may seem obvious but don’t sell stuff out of season, barbecues in December – it happens!
- eBay sometimes has ‘free listing’ weekends watch out for these.
- I cannot advise on tax but remember if you are running a business on eBay you need to take professional advice.
- Feedback is everything. Do everything you can to protect it by giving outstanding service. If a refund is needed, give it quickly and with good grace.
- To advertise free delivery is a powerful marketing tool.
I hope you find my tips for selling on eBay useful, there are lots more but if you get all of the above right you will be well on your way to being the next eBay powerseller!
Over the years, a lot has changed in the way people transact businesses. A few years ago, whenever a seller listed something for sale, the whole process of actually negotiating with the buyer was too tedious. First they had to post an ad, wait for the customers to respond to the offer, sit with them and then complete the transaction. Usually in such cases, the amount sellers get from the buyers is much less than what they had wanted due to several rounds of negotiations.
Auctions are always convenient
A far more practical option back then was to arrange an auction whereby buyers competed with each other to buy the goods or services which the seller is offering. In this case, prices usually went up, and the highest bidder could acquire the things on sale. In traditional auctions like this, buyers ended up paying over the odds while sellers enjoyed enormous profits.
But as technology has advanced, it has brought a lot of changes and one of them has been the introduction of reverse auctions. These auctions, unlike the traditional ones, are entirely different. For instance, here it is the buyer who initiates the auction. Usually, the process comprises of:-
Posting the job in a reverse auction website
Description of the desired service or product from the buyer
Receiving and evaluating bids
Choosing the lowest bid
Handing the job
Unlike traditional auctions, prices are driven down by competing sellers. Here vendors are competing to obtain business from the buyers. But it’s not always the price which is the primary factor when buyers are deciding which bid to accept from a seller and which to reject. It depends on a lot of other factors. The buyer might accept a higher bid from a seller if they feel that their proposal is much better.
There are several advantages of reverse auctions like:-
Firstly, as sellers compete with each other to drive the price down, buyers end up saving at least 30-40% on an average.
Secondly, it saves a lot of time. All that buyers need to do is post the things they want in a reverse auction website. Sellers will then bid with price quotations.
Thirdly, buyers can compare the bids from all the sellers at a glance. This enables them to choose the best proposal.
Fourthly, for companies, reverse auctions can be of great help in generating more business if their bid is accepted.
There are times when it is necessary to make pretty tough decisions as far as our business is concerned. Try as you might, there may come a time when it is necessary for you to exit the business and to do so without merging it, selling, it or passing it on to another individual or entity. When it comes time to exit the business, you are going to need to develop an exit strategy that is well thought out and follows along with a plan that will benefit you to the greatest extent possible. One part of that plan may be selling some of your assets through liquidation auctions. Why is it a good idea to do this?
Before I begin to discuss the benefits of selling your assets through a liquidation auction, it’s important for you to understand that there may be other options that are available. It is always a good idea to discuss any exit strategy with your attorney as well as your accountant before you make this type of move. There may be legal ramifications that are associated with the closure of your business that you have not considered. Your accountant will be able to help you with any financial problems or questions that you may have so that you can exit the business with the least amount of financial impact on your personal lifestyle.
It is also a good idea for you to take a good look at your assets and the inventory that you have available. While it certainly is true that using a liquidation auction is going to be the easiest way for you to sell off your assets, there may also be some items available that would be better sold elsewhere. This is also something that you can discuss with your accountant to determine if there is going to be any financial or other benefit to you when selling those items.
Among the specific benefits of using a liquidation auction, one that is certainly going to be considered is the convenience of doing so. It is likely that you are dealing with a very stressful situation while you are closing your business and the last thing that you would want to do is to add a lot of stress along with it. Using an auction allows you to put the majority or perhaps even all of your assets on the auction block and to have them taken care of in that way. There is still going to be some sorting that will be necessary on your part, but if you don’t have to worry with the stress of selling those items individually, you will fare much better.
There are also additional benefits that should be considered because they can help to relieve you of some of the stress of the situation and to allow you to fully liquidate your assets. Included among those benefits is the marketing that is available to allow you to reach a much wider audience. There is also the certainty that the items are going to be sold and many full-service auctions have a regular following which may be looking for exactly what you are offering. So if the time is come for you to close your business, consider using an auction to liquidate your assets for the financial and stress management benefits that are available.