The authors ask that we study "what people want" very carefully. As humans, we have a tendency to project what we want rather than serving the customer. A thorough study of buying habits is another condition precedent for successful Ebay selling. As a new seller, try surfing the Ebay auctions to see what items sell repeatedly. These items are up for auction in perpetuity because they sell easily; otherwise, there would not be repeat auctions. Examples of very popular items are sporting goods, quality brand-name watches, computer equipment, popular games for children, small appliances, real estate, many luxury items, autos, fine pen and pencil sets-just to name a few.
A seller should look for evidence of emerging markets and tap into them. Emerging market information may be obtained from newspapers, magazines, television documentaries, "The Economist", sellers and the Commerce Department. Occasionally, estate sellers will place things on the market for "pennies on the dollar" to get quick cash. In these instances, you make an enormous killing. I once saw a $5000. instrument sell for under $50. on an estate auction. So, the tremendous deals are out there. You must learn to secure them by surfing the net and keeping enough money in the Paypal account to cover purchases on an immediate basis.
It's important to know what you sell. If you don't know the product, you cannot explain the most valuable features to potential customers. Every time I placed an item for sale on Ebay, potential buyers would ask questions about the item condition, operability, guarantee and major features. In addition, some buyers request that you post a picture of the item on E-bay. Therefore, owning a digital camera may assist greatly in making sales.
For sellers, it is important to diversify the product line to have a mix of profit margins operating all the time.
I've utilized Ebay to make purchases and to sell small items. Popular items do sell quickly. Once, I placed an item on the Ebay and it was sold within 5 minutes. In addition, I purchased a very fine China plate in full color for $1.00 and a full set of athletic equipment for $10. The deals are out there. I've purchased vitamins at half price or less.
For instance, a sales pitch to Ebay users might be formulated as follows:
" China plate sells for $100.00. This is a perfect holiday gift. It is a full color plate with 14 carot gold trimmings. There are hand-painted figurines of humans and animals. In addition, the plate has traditional Chinese writing with the signature of the author. The rendition is in excellent condition with no imperfections or chips. The winning bidder will be provided with a good approximation of shipping charges. Buyer bears the risk of loss in transit unless insurance is purchased. "
In any ad, you should always describe the item fully with its major features and characteristics. List the price and always mention the condition of the item. i.e. Excellent Good Fair
You need to surf the Ebay frequently to secure bargains. I make some of my holiday purchases in advance and hold the items until the next holiday season. Many people are not aware that Ebay has real estate auctions and mobile home auctions. In my experience, it pays to do frequent surfing of the Ebay auctions to learn what's out there, what sells and the pricing of popular items.
Concurrent with this is the need to accurately assess demand. At times, it may be necessary to scan newspapers and record trends. Ultimately, you will need a legal business entity and a sales tax number for mass selling.
The acquisition would be very helpful in crafting a strategy to sell on E-bay and make a profit doing so. As such, the book is worth the price of admission. It's important to keep surfing the internet in order to refine your judgment about pricing and what the customer is willing to pay currently. The highest prices are generally in the holiday season when people buy things that they would never consider purchasing after the holiday season. For instance, when the X-box first came out, many stores sold out at a $300- $400 price. After the sellout, Ebay marketers were commanding up to $700 for the same X-box within weeks of the holiday season. Some of the marketers must have snatched available X-boxes at the $300-$400 price and resold the items within weeks for $700. apiece to willing buyers.
An astute E-bay seller can take advantage of the buying frenzy to make huge profits;otherwise, unattainable during the off-season sales. Ebay is another perfect place to sell unwanted gifts. Just keep them packed in the original box with guarantee and resell them either after the holiday or during the next season. Impulse buying occurs most frequently in anticipation of holidays, religious observances, graduations at midyear, weddings throughout the year, birthdays and anniversaries throughout the year, as well as general gift-giving on a random basis. Potential sellers must learn to tap into these markets by popular means which include:
-listing items on Ebay during impulse buying periods - maintaining a personal website - advertising throughout the year - utilizing popular search engines to increase sales - surfing Ebay to determine what sells and what doesn't and WHY - tapping into estate sales and government surplus sales to purchase items for pennies on the dollar
This book is a worthy purchase for the price charged.
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Dr Joseph S Maresca (JSMaresca)
Dr. Joseph S. Maresca CPA, CISA Amazon / KDP Books: SEARCH -College Vibrations by Dr.Joseph S. Maresca SEARCH- Consumption,Savings and the Public Debt … more
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If you want to build a profitable--and consistent--eBay business, you need to start with strategic product sourcing. What to Sell on eBay and Where to Get It reveals the same techniques used by the most successful e-commerce entrepreneurs and by major retail chains to determine what products will sell well and which suppliers will deliver those products for the best price.
Learn to generate product ideas, research your markets, diversify your product line, and build a direct supply of inventory. Using the proven strategies in this book, you’ll be able to find the products that will fuel your business for the long term and skyrocket your sales!