Monday, September 04, 2006

Finding stuff to sell on Ebay and pricing it.

Ok, so you've been through your stuff in the attic, basement or garage. You've found a whole bunch of things you don't use anymore and you might have some stuff that you think is actually worth some big bucks.

Remember the first rule from the first post, RESEARCH. Look up all that stuff in Ebay under completed auctions to find out what it's selling for. Another thing to watch for is to make sure you're not selling the same rare knicknac that 20 other people are selling at the same time. Unless this is an item that is in very high demand(Remember giggling Elmo?), wait a while until the market is not as saturated. You can be sure that if an xyz widget sells for big bucks one week, the next you'll find 20 others for sale at horrendous prices.

Pricing, let's talk about that shall we. Whatever you paid for your stuff, you must consider a few factors in before pricing. Im my book, and that's the way I usually work, I caculate that if I have owned something for more than a year and have enjoyed it for said period of time, it's paid for. Same thing for stuff lying around unused for more then two years. Price of purchase for these items most be considered as zero. That's why %99 of my auctions start at $0.99, it's a number I love to see as a buyer and I'm sure my customers love that as well. If you try to cover the purchasing price of your item, many people will shy away. This way, if more than one person wants your gizmo, the starting price will encourage more buyers to bid and bidding wars is what we are aiming for fellow future sellers.

Shipping, that cost is never calculated in the selling price. Shipping is always paid for by the buyer. Always inform buyers about your shipping rates in the description. This will give the buyer immediate information and will save you a bunch of annoying and uneccesary emails. Calculate your shipping cost ahead of time before posting your item up for auction. You don't want to lose any money on shipping. Offer to ship anywhere in the world, why limit your customer base to one country when you can have the entire planet to sell to. It's not more complicated, just take the time to find out how much it costs. I never bid on auctions that say "If from outside XYZ, email for shipping information" I don't, I WANT TO KNOW NOW and HOW MUCH, RIGHT NOW. I won't bother sending an email. I'll buy from someone else or I'll wait for another gizmo just like it to come up for auction soon enough.

Very rarely do people buy stuff from Ebay because they want it right now. They go to local stores 5 streets away from their house for that. Stuff you sell is already a pain to buy because of things like having to wait for the postman to deliver it, do not add to this by making your auction problematic in any way or demonstrate that the process might be even longer(with stuff like "we mail only once a week"). In this fast paced 21st Century, waiting is not a big seller.

Have you gotten your Paypal account yet? No! What are you waiting for. People hate to wait remember? Checks and money orders take time to get to you, delaying delivery even more. Make your stuff easy to buy with a Paypal account, easy to buy = easy to sell. It's that simple.

Man! Lots of stuff and we haven't sold a thing yet. Work on getting that feedback rating up in the meantime and research some more.

Next post, how to make your first auction.

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