Ebay is the biggest online marketplace in the world with millions of products being sold and millions of potential buyers logging in every day to buy specific products or see what’s available.
The first thing to do if you are interested in building a business on the site is to open an account. This is free to do and will only take a few minutes. You should choose the site for the country that you live in, but note that you can use your User ID to buy or sell stuff on any of the other country sites once you have started your account.
Before you start selling things on the site you probably want to buy a couple of items first so you can get an understanding of how everything works. Just sign into your account and click on the “Buy” link to get started.
If you want to start an online auction business you don’t have to spend any time building your own website or trying to get people to visit your new website. You don’t have to worry about the traffic, as Ebay provides this for you, with millions of people all over the world logging in every day
Here are a few steps you should take before you consider starting an online auction business:
Research the website for products that are selling well. Doing this research upfront will provide you with the essential knowledge of how start a
business on the site.
Scour your belongings for things that you don’t need or use. Everything is a potential product that you could be selling online. Although you may want to ultimately sell your own products, selling some of your belongings that you no longer want is a good way to get started on the site. It will give you the experience to allow you to move on to bigger and better things.
See how much every item you decide on selling is listed for. This will give you an idea of how much you should sell your item for. Decide on the lowest price you will allow for your item. Even if other people are paying a certain amount for others similar items, don’t list your item for the same price. Some people may be willing to pay this much, but they don’t necessarily want to start bidding at that price.
Setup an account with Paypal. A Paypal account is free to open and allows you to send and receive money to other Paypal account holders and accept credit card payments.
Learn about the costs of selling on the site. You will have to spend a small amount of money before you start making money. There is a listing fee, a final value fee, and if you use Paypal for your venture you will pay a fee there too. Learn what those fees are before you list your item so you will know your costs and your profit.
Read the Terms of Agreement, so understand exactly what you can or cannot do or sell.
Make sure that you gain an understanding of what successful people are doing to become PowerSellers. Find a few PowerSellers in your industry and study what they do.
All it takes to call yourself a “Power Seller” is to sell $1,000 a month for three months and have 98% positive feedback.
Silver PowerSellers make at least $3,000 each month
Gold PowerSellers make more than $10,000
Platinum Powersellers make more than $25,000, and
Titanium PowerSellers make at least a whopping $150,000 in sales every month!
The fact that these people exist. They can give you an idea of the profits possibilities on ebay. Most of them never set out to even set up a business online. They simply started like many PowerSellers selling few things, and then kept going. There are plenty of people whose full-time job is selling things online, and some of them have been doing it for years now.
You don’t need to quit your job to start an online home business. You can use the site to make a significant second income from the comfort of your home. You can pack up orders during the week and take them down to the post office for delivery each Saturday.
You can also sell intangible products without the hassle of packing or posting. There are few other things you could be doing with your spare time that have anywhere near that kind of earning potential.
No matter who you are, where you live, what your age or circumstances, if you know how to sell stuff on online you can make your dreams become reality. There’s no job interview and no commuting involved. If you can create a listing and post things, you can do it.
This doesn’t mean you don’t need to work hard or you are going to start making a lot of money from the start like a lot of marketers proclaim. Selling online involves numerous risks and hassles that may not be obvious at first glimpse. But, selling online can be wonderful if you take your time to learn what it is all about before you start.
If you want to dip your toe in the water before you commit to actually buying anything, then you can just sell things that you’ve got lying around in the house. Search through that cupboard of stuff you never use, and you’ll probably find you’ve got a few hundred dollars’ worth of stuff lying around in there! This is the power of online autions. There is always someone who wants what you’re selling, whatever it might be, and since they’ve come looking for you, you don’t even need to do anything to get them to buy it.
If you want ideas on how to start an online auction business, including what to sell on Ebay, how to earn good money and if you want to learn from those who have already succeeded, then I highly recommend reading the advice of these:
by Sam Leccima and Shani Leccima