It was a seminar that had an in-the-field pro giving tips for people using eBay to make money as a home business.
Presenter: Ted Turner (not the same guy who owns TBS or the Atlanta Braves baseball team)
Topic: Tips on Running an At-Home eBay Business
Background: Ted Turner is an eBay Gold Powerseller, and he makes his entire living doing this. So he definitely knows some things to do to make some money on there.
He first got involved with eBay, because photography is his serious hobby. So he had a lot of different pieces of camera equipment sitting around collecting dust.
He tried selling these on eBay, and he was surprised how quickly they sold. He was even more surprised at how much money people were willing to pay for his things.
It is worth noting that he has camera equipment that is high end and specific. During this stage of his eBay introduction, he was NOT selling a commodity that people can get at other places. Even so, he made more money from selling them than he expected to make.
He was hooked.
His commentary: Ted warned about running an eBay Home Business being tedious. It requires you to take time to create listings on eBay's site, packaging and sending the product, and handling follow up customer service. This is not even mentioning spending time to try finding things to sell.
So you really should enjoy spending time with the product that you're selling, because you will be spending a lot of time working with it.
Some Tips: Ted gave some really good tips. I will share some with you here.
Selling Method: You can sell things on eBay via an Auction or simply "Buy It Now."
If you are selling something that is in HIGH DEMAND, then use an Auction. People want to feel like they're getting a deal, but many people get caught in the excitement of the bidding process.
If you are selling something that is RARE or does not have a lot of prior sales that sort of establish market value, then use the "Buy It Now" feature. If they want it, don't give them a chance to run, because not that many people are looking to buy this item.
Auction Time Length: If you sell via an eBay Auction, run the 7-Day Auction.
You can run 1-Day, 3-Day, 7-Day, 14-Day, or 30-Day, but one (1) week seems to be short enough to hold people's interest and long enough to allow time for multiple people to find your ad--and bid on it.
Keep Shipping Supplies: If you plan to do this at home, keep shipping products at your house. This means boxes, packaging material (like peanuts and bubble wrap), packing tape, etc.).
International Shipping: If you use ship things Internationally, use the US Post Office. They handle their own customs paperwork. The other carriers hire out Customs Agents, which will cost you around 3X - 5X as much.
Also, do not use International First Class. The contents of what you send are not guaranteed, and this can lead to poor customer reviews, even though it is not your fault. Spend the extra and use the higher priced but insured shipping methods.
Customer Reviews: These are your lifeblood. You want to do whatever you can to keep your customers happy. At least, you want to avoid having them write complaints about you. Not only will you look bad, but eBay will not let you sell if you do not keep a high enough Customer Satisfaction Rating.
Pictures of Product: You can use a stock photo, but Ted does NOT recommend this.
People buy retail items when they touch them. You don't have that on eBay. So you have to use visual aids to help the potential buyer build an emotional attachment to what you're trying to sell. Stock photos are generic, and they're boring. They don't usually excite anyone enough to spend a lot of money.
Take pictures of your product at all possible angles. Let the person see what they will be getting.
Also, don't try to get fancy. Just use a simple White Background for your pictures. Those usually sell the best.
Good Place to Learn More about Selling on eBay: Look up eBay University
eBay Market
Top Sales Volume: Women's Clothing and Accessories
Fun Fact: EVERY SECOND, 55 pairs of shoes are SOLD on eBay.
There is also a big demand for Designer Items, especially in the International Market. (Many foreign countries do not have easy access to these types of stores, like we do here in the US.)
My Commentary: It seems like people use eBay for one (1) of two (2) major reasons.
- They want to find a "deal." (They want to feel like they did, anyway.)
- They want to find something rare--hard to find.
This does not seem to be for everyone, but it seems like it could be an awesome opportunity for the right person.
Realization: eBay is a perfect example of e-commerce, but there are some portions of it where you have to think like an Internet Marketer. (To see the difference between the two, check the post: Internet Marketing vs. Network Marketing vs. E-Commerce.)
You need to understand which phrases people are most likely to type if they are searching for the product that you are trying to sell.
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