You have finally made the decision; you want to earn some serious cash from the world’s #1 online auction site, eBay. Congrats. eBay, well those seeking to make purchases on eBay, paid for all new fishing equipment and my entire year of fishing, the first year I started buying and selling on eBay.
The first thing you need to learn in order to earn money on eBay is what sells and what to avoid. Indeed, eBay may be visited by 10s of thousands every hour of every day adding up to millions of people per day, but with thousands of auctions going on at any given time, it would be hard to generate great interest in your products if the market isn’t really hot for them. The result can be quite detrimental to your efforts. You might end up paying mounted fees without realizing any profit, since no one would bid on your auctions. This exact thing happened to me the very first time I decided to get rich buying and selling on eBay.
So how do you know what products would be the hottest sellers on eBay? Here are some tips you could employ.
• You can start with offline research. Learning just what sells well is a matter of studying the general market. This entails research. I put in a fair amount of time studying the newspapers in our fair city.
What are the items or products being aggressively advertised by two or more companies? There is a good chance there is profitable market for them. Don’t skip over the classifieds, I constantly find real gems in there and you will also. Which products are being sold the most?
Note: If your classifieds have a “looking for” or “LF” section you have an opportunity to meet a demand if it is large enough. It’s nice to be in your comfort zone, but don’t let that be the cause of your lack of income, learn more and you will sell more or have more to sell. Consult with established resources to help you come up with new great ideas.
• You Have Access To Some Awesome eBay Tools, So Use Them. Your eBay seller account should also provide for you a way to know the website’s most popular auctions. What are people buying and selling on eBay that could help you earn more? This should give you an idea about what sells well, and how much they are going for. Simply visit the Seller Central area for a rundown of the day’s top auctions, and try to view the same with a critical mind. Determine if the demand is really huge, or if the price is responsible for pushing the demand to the limit. If the latter, determine as well if you’ll be able to compete with the said price.
Be sure to check out the Marketplace Research and eBay Pulse section to learn more about buying and selling on eBay.
• Online research. The internet is an enormous resource center for your market research campaign. There are more tools than you can shake a stick at online, some are free and others you will need to pay to use. These tools can help you learn what any market is really looking for. You could try www dot nichebot dot com for example. Go there and type in any subject that comes to mind. On the results page, view the number of times the subject and its related inquiries were searched for. This should give you an idea about how popular the subject really is. From there, you could come up with relevant products to help you cater to the demand in the aforementioned market. Another alternative, which is more convenient for your purposes, would be www dot andale dot com. This is a paid service that would deliver a list of hot selling items at eBay, as well as some tips on when to start your auction and how to proceed with the same.
• Keep in touch with the times. Generally speaking, what is popular in the real world should be popular on eBay as well. Merchandise for the latest movies often become highly sellable items in this auction site. Billboard chart toppers are also in high demand.
• Speculate. Interested with the latest developments in technology? Familiar with the upcoming releases of your favorite companies? You could play the speculation game, and plan before these items are even released. You could easily determine the demand for them by employing the steps we have enumerated above. Additionally, you would also want to keep abreast with subjects that are enjoying a renaissance of sorts. Culture, after all, comes around in circles. What were popular some decades ago would become collector’s items eventually. It’s just a matter of knowing when the resurgence would be experienced. I have got this guide off a site outside of ebay, however I feel this will be very useful for people on ebay.