Some people say that anyone can make money on eBay, by selling all sorts of household junk and unwanted gifts that you have lying around. It would have to be a very big house to have enough stuff going around to make money on eBay consistently.
However there are over a million registered users in the UK and millions visit the site every month so there is potentially a large relatively untapped market which should allow you to make money on eBay if you do your homework first; in the USA over 150,000 people make their full-time living from selling on eBay.
In the UK eBay is rapidly getting established and just about everyone has heard of it so how do you make money on eBay?
Whether you are looking for a way to supplement your income or develop it as a full-time job, you need to know the basic steps for selling online and the strategies that will get you the highest bids and keep your customers coming.
What you need to do before you get started:
Do not expect to sell every item you put up for auction or sale – it probably will not happen;
Do not expect to make a killing in your first few weeks as eBay would have you believe;
Do your homework – research eBay carefully before you place your first listings. This information is essential, you must find out as much as you can about pricing policies, competitors and buying habits.
Look at sellers feedback scores and the items they sell to find out what goes best and when to use a seven-day auction or a one-day auction. If you want to make money on eBay, model yourself on successful sellers with high positive feedback scores.
When you come to create your listing you will have found out that a good title, accompanied by a precise, well-written and accurately detailed product description will maximize your listing's impact. Add a picture to make the selling power grow even more because people trust what they can see more than just a description.
70% of registered users will accept payments by PayPal but you should offer other payment options as well. The greater the number of payment options that you accept the less chance of potential buyers backing away!
Positive feedback from previous buyers can make all your offers more attractive. You will have to work your way up and become a top eBay seller. From that position you will notice more buyers bidding on your products and an increase in the prices they offer. A tip to build your own feedback score quickly and make money on eBay, is to become an active buyer yourself. Many items are sold at very low prices and the opportunity to build your score up to say 100 will not cost you very much.
Always be professional and treat your buyers with respect and courtesy. If they have questions answer quickly and not only will they come back willing to bid even higher prices for your products but they will also spread the word amongst their friends.
Make sure you use all the available marketing help from eBay itself – especially the "About Me" page which allows you to set up a personalized page about yourself. Add a signature-file and promote your business.
Bookmark the "Want It Now" page so that you can regularly browse through lists of items actually wanted by buyers. You will make money on eBay quicker by responding to buyers needs.
Source by Peter Fisher