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Are you fed up of giving 10% of any ebay sale to ebay and NOT to yourself? Here's how you manage to save on ebay fees absolutely legitimately when your selling:
I am an avid seller on ebay and I've sold plenty of stuff, but at the same time have also given quite a big chunk of it to ebay. Not only do they want 10% of any auction sales but paypal also takes another chunk of your hard earned money. But theres a VERY simple way of giving ebay a lot less and I do it all the time now.
If you read ebays fees page you will notice that all auctions incur a 10% final value fee, ie if your item goes for £100 ebay get £10, effectively leaving you with only £90 (not including other paypal fees and insertion fees). An easy way of reducing this fee is by selling via "BUY IT NOW" and I don't mean auction WITH "buy it now" but JUST "buy it now" or "buy it now" and "best price offer" option activated.
Ebay, in its unlimited wisdom as an auction platform has decided to reduce the fees for people selling with "buy it now" format in comparison with auction style listings. The fees are pretty much 9.9% of the first £50 and thereafter 5.9% until you reach a selling price of £600 and then even less after that. What does that mean?
Say you sold for £100 auction style. You get £90 (£10 fees).
Say you sold for £100 Buy It Now. You get £92.1 (£7.9 fees). YOU GOT £2.1 MORE
Say you sold for £400 auction style. You get £360 (£40 fees)
Say you sold for £400 Buy It Now. You get £374.4 (£25.6 fees) YOU GOT £14.4 MORE
I am stating the obvious but looking at the vast majority of private auctions, most people still sell auction style and not buy it now style although that would really save you cash.
If you are worried you are underselling your item because you can't gauge how much your item is maximally worth ie. if you have an auction you'd get the max money, then don't worry: For this situation just put the buy it now price a bit higher, and tick the box "accept offers". This way you may sell at actually an even higher price then your auction could ever get, but your customers can still "auction", ie suggest a price to you that they want to pay (that is the definition of auction).
So in a nutshell:
-Use Buy It Now with "accept best offers" to save lots of ebay fees.
-Only for items worth UP TO £400! (ebay caps auction style fees to £40). If your item is worth more than £400, use auction style. Otherwise stick with Buy It Now.
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Selling on ebay and saving MASSIVE fees!
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23 October 2010
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