How to Sell on Ebay and Make Money Online
Make Fast Easy Money Working from Home
Did you know that sellers sell over $121,000,000 (yes, that is $121 MILLION) worth of products on eBay every single day? Are you taking advantage of this huge, profitable market to make money online? If you've been struggling to make money online with eBay, this is for you. Explode your sales while you make money from home by building onto eBay's giant online auction place with 2,000,000 shoppers a day.
Here are the strategies to make more money online with eBay.
How to Make Money Online with Ebay
Tips for eBay Sellers ~ The eBay Money is in the Details
- Sunday is the best time for most Ebay auctions to end. The weekend surge of bids from buyers at home will carry your sale to higher ground. With this strategy, you will make more money online. Friday is a likely to be poor day for the end of an auction, because your bidders at work are busy with work wrapping up the weekly job tasks. Similarly, Monday is not a strong day to wrap up an auction, because workers are in startup mode at the office, with tasks and meetings.
- The conventional wisdom says that the best time to start or end an auction is in the evening when bidders have lots of time to browse. With this in mind, consider the three-hour difference between Pacific Time and Eastern Standard Time and choose an ending time that will be convenient for all time zones. Between 6:00 pm and 8:00 pm Pacific Time is a safe bet. With eBay’s Scheduled Listings feature, you can list your items and instruct eBay to launch them at a later time that suits your customers.
- Research contradicts the conventional wisdom outlined in Item #2 above. Don't end auctions during “eBay happy hour.” Though it might seem counterintuitive, a University of Pennsylvania researcher found that auctions ending during peak hours on eBay are actually 9.6% less likely to result in a sale. The reason? More competition. About 35% of auctions end between 5 p.m. and 8:59 p.m., when 25% of bids are placed
- Hold longer auctions. Researchers from the University of Arizona and the University of Michigan found that longer auctions tend to bring higher prices. While three-day and five-day auctions yield approximately the same prices, seven-day auctions are about 24% higher, and 10-day auctions 42% higher on average.
- Pricing strategies can make or break a sale. If your item sells elsewhere at a higher price, mention it. “Was $99.99, now just $69.99. If this is the last one available, tell the customer so. Researchers at Stanford found that auctions which mention the high retail price in the item description sell for 7% more on average.
- Give the buyers an incentive to bid by offering a low introductory price, reduced shipping, or free shipping whenever you can. Add to the buying interest by including a free bonus, free gift box or special premium offer.
- If you are selling inexpensive items, offer the buyer a group or collection of them, one of each color, or a set of three. You might have less profit on each item, but you’ll make it up with the extra volume. The goal is to make more money from each sale online.
- Don’t expect to get top dollar for all your items. The Ebay auction experience is enhanced for a buyer who sometimes gets a good deal. An auction for a kitchen sink with a starting price of $225 ended without a single bidder. When re-auctioned with a starting price of $75, the sink sold for $275. The exception to the start-low rule: If you're selling an special item you don't think a lot of people will bid on, set a price closer to the item's actual value.
- Try not to use reserve prices , especially for low-priced items. When using a low minimum bid, nervous sellers sometimes set secret reserve prices to make sure their item doesn't sell for less than the item's true value. Using reserves is a risky strategy for sellers, say professors at Stanford and the University of Arizona, because it reduces the probability that the auction will end in a sale. In an experiment using Pokemon trading cards, they found that secret-reserve auctions on average resulted in fewer serious bidders per auction and lower final sale prices. However, other research suggests that for auctions of higher-priced goods over $25, secret reserves might actually push revenues higher when the auctions end in a successful sale. You make more money online with Ebay by closing more sales.
- Fewer than half of all Ebay listings will sell the first time they are listed, even for experienced sellers. You can take advantage of eBay’s easy relisting option. Or you may want to rotate your items and then relist the unsold items later.
- Make your description of the item thorough and comprehensive. Most successful sellers are generous with additional information. Mention its origin, its condition and completeness. Explain its use or how it works. Mention wear, damage or any part that is missing. Research your vintage items to find the “story” or unusual historical tidbits. Study similar sales on eBay to help you with the details. You make more money from home if you have good work habits.
- Hype it up. Research shows that inserting blatant puffery like “This shirt is hot!! A must-have for the summer!!” used with a low starting price stimulates interest better than more straightforward listings, and possibly raises the final sale price. As always, your goal is to make money from home.
- Bidders don't pay much attention to shipping costs when placing bids on items with a low starting price, say professors at UC Berkeley and Hong Kong University of Science and Technology. CDs listed with a starting price of one cent with $3.99 shipping averaged 21% higher final sale prices than CDs set with an opening price of $4 and no shipping charge. But when the professors listed CDs with a $2 starting price and a $6 shipping cost, five of the 20 CDs went unsold. You make more money with Ebay when the prices start low.
- If you have expertise or experience in your field, include it. Give the buyer more reason to rely on you. Even though you make money from home, you are the expert on your item.
- What draws bidders quickly is a low opening bid. Set your opening bid so low it makes you cringe. There are bargain hunters who will start the bidding because they can’t bear to pass up a good deal.
- Post testimonials and endorsements from your customers, with their permission. EBay uses the feedback system for customer comments, but not every bidder will take the time to read it.
How to Make Money Online with Ebay
Which eBay Categories Bring in the Most Money Online?
Everyone wants to know what merchandise sells best online. Here are twelve eBay categories that sold $1 billion or more each during just one year. Yes, a billion dollars. Most of these sellers make money from home.
- eBay motors at $9.8 billion, with over a million cars sold
- Consumer Electronics at $2.5 billion
- Computers & Networking at $2.4 billion
- Clothing, Shoes & Accessories at $2.2 billion
- DVDs & Movies at $2.1 billion
- Sporting Goods at $2.0 billion
- Home & Garden at $1.6 billion
- Collectibles at $1.4 billion
- Toys & Hobbies at $1.3 billion
- Jewelry & Watches at $1.2 billion
- Cameras & Photo at $1.1 billion
- Business & Industrial at $1.1 billion
How to Make Money Online from Home
Which Search Keywords are Popular with Ebay Buyers and Sellers?
Everybody asks which search keywords are most popular on Ebay. The answer depends on the season of the year, but here’s a recent sample.
- Banana Republic
- eBay (Are they lost? Maybe they think they’re using Google.)
- Free shipping (you eBay sellers should take this into consideration when you plan your page titles)
- Harley Davidson
- Kate Spade
- PlayStation 3
- Ralph Lauren
- Tommy Hilfiger
- U.S. Coins
- Zoppini (Italian charm bracelets. I had to look it up, too)
How To Make Money Online With Ebay
Know What the Biggest Sellers Are Selling
Here are the items offered by the sellers with the highest unit volume. They may not be the most profitable items for sellers, but they move the most volume. You can make money from home with these items, too.
- Cellular phones and accessories
- DVDs and CDs for movies videos and music
- PDAs, digital cameras, Mp3 accessories andink cartridges
- Printer ink, Mp3 players, PDAs and universal accessories
- Cameras and digital cameras, computers and accessories, stereo equipment, Wi-Fi equipment
I hope life brings you much success. I wish you a very happy day.
----- Surfer Sam
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