Have you started selling items on eBay to make extra cash or build a business, only to find that you purchased a bunch of duds that are sitting on a shelf? Or maybe you listed some items that get very few views and no one watching that item?
I did the same things when I got started as an EBay seller, and I learned some lessons the hard way! If you follow these tips I’m sure you can cut down on wasted time and money as you build your EBay business !
A Breif Introduction to my story.
Almost everyone who has started selling items on eBay has done so to either get rid of something they no longer wanted, or heard a success story about an eBay Seller that is earning really good income or just making extra money on eBay.
I purchased items from eBay for quite a time and had over 500 transactions before I ever even considered selling on EBay. I knew nothing about selling on eBay and really wasn’t in a place where I wanted to learn.
I started an online business in affiliate marketing several years ago because I wanted to break the bondage of a nine to five job. Eventhough I owned my own business, it was eating my time and working out of town a lot was wrecking my family life.
I was earning pretty good money in my business but the idea of traveling and freedom was totally out of the question because I had intense commitments in my business that dictated my time for me.
I started my affiliate marketing business with a free training and website platform called Wealthy Affiliate, and it wasn’t long at all before I saw the potential that can come from making a website and promoting products in a subject that I was completely in love with. In short it was fun!
If you would like to learn about my affiliate marketing story you can do so HERE.
Along Comes Reselling On eBay!
Affiliate Marketing and niche websites is likely the most fun I have ever had doing something that can losely be called work!
But two things became obvious! I had to put in the effort up front to grow these websites, and it takes time to build your website to the point where it starts to really get traffic and become a force in your income.
I had a really good paying job so I wasn’t in a bind to make money right away. And after a time I saw the potential for others to change their lives doing the same thing, but most people I talked to were really interested in making money right away.
I thought about this for some time and talked to several people who were successful in earning an income online. That’s when I decided to Try reselling on eBay!
After I started eBay and realized how easy it was I decided that it could be an avenue for myself and others to start making money immediately while building a successful business in affiliate marketing!
My First months were a learning curve and I made tons of mistakes, but I kept working on it and gleaning information from others who were doing well with it!
I decided to keep notes so that I could help others do the same thing, and here we are!
I have made a list of tips to get started and improve your eBay selling venture. These Tips will help you do better than I did when I got started and reach success much quicker!
If You read and follow the rest of this article, I’m more than sure YOU will be able to turn a part time or full time hustle as a reseller into a thing of beauty!
Tip #1 for reselling on eBay!
The first and most important tip I can give you is to approach reselling with the truth!
Reselling items on eBay is sometimes a grind and it takes some hustle to be effective and successful! There are times when I am totally into it and times where I have to fight procrastination and laziness. That is the truth!
However, I see reselling and sourcing products as a fun chore 90% of the time and look forward to the treasure hunt that comes with sourcing products to sell on eBay!
So let me be honest here and say that reselling on eBay takes effort and some time.
It is very possible to earn $1,000 or more per month with just a few hours per week, but you have to do it! Like anything else the results you get are directly related to the effort you spend sourcing and listing.
If your goals and dreams are bigger, your hustle and effort must be bigger! To earn $1,000 per month isn’t very hard. To earn $10,000 per month takes 10 times the effort!
You really don’t need a computer or other expensive items to list on EBay,because everything can be done from your phone. Especially to start. But the one constant is the grind and hustle. If you can spend a few hours per week on your resell business, you may find yourself astonished at what you can do!
Tip #2 Sourcing items to sell on EBay!
The best place to start for anyone new to reselling is at home!
Treasure You Already own and didn’t know it!
You can go through your home and locate items that you no longer need or want and list them for sale on EBay and you essentially have no money involved because they are items you already own.
I heard state that the average home contains $2,000 worth of items that can be sold on EBay, and I believe it! I sold 3 items my first week for over $400!
Starting with items that you no longer need is the best way to start and gives you some practice with using the EBay app. More on that later!
Thrift stores is the next place I started sourcing items to sell on eBay!
It’s not uncommon to find new shoes and clothes at thrift stores! I even find some really good shoes, clothes and othetr items that have the price tag still on them! These are usually really great finds because you can sell them as New or Like new.
I have found sneakers that I paid $5 for at a thrift store and sold them for over $100! That doesn’t happen every time, but it is pretty common.
I found a heppa filter system that I purchased for $10 and resold on eBay for $175 and the stories go on and on!
Two key things to remember is that you have to search the items and “sold comps” (More on that later) and the second thing to remember is that you won’t find something in every store.
Sometimes you have to go to multiple stores to find one item to resell, and sometimes you will find 20 items at one store! You just have to keep going. That’s where the hustle and grind comes in.
Yard sales are a sourcing method tat I love almost as much as Thrift stores!
I love yard sales because it truly is a treasure hunt and you generally pay far less for the item than you do anywhere else! But then again, you don’t find something at every stop, you have to keep looking.
I suggest to everyone to get your local newspaper. It will have local yard sale times and places listed, and many of these are listed by people who aren’t as computer and smart phone saavy.
Some items you find at Yard sales are items you can make a $5 or $10 profit on, while others can profit well into the hundreds or thousands of dollars. For example, I recently found a set of woodworking planes at a yardsale that the owner wanted $50 for. There were 6 planes in the set and I kept one of them. The others I sold for $180 on EBay.
If you want to be effective and successful first realize that you don’t find a pot of gold around every corner, but there are tons of silver out there !
In the above example, I found a tool I really wanted along with several other versions of that tool. I kept the one I wanted and flipped the rest for a nice profit!
But don’t discount the small ball approach !
I’ve purchased quite a few shirts and shoes at a yard sale for $1-$3 that sold for $18 -$40 each.
If you don’t find that pot of gold, don’t pass up the little pans of silver!
The best way to approach yard sales is to get started early in the morning and keep going until lunch time or early afternoon! Of you normally stay up late on the weekends playing video games or watching TV you have to decide what you are going to do. It’s completely up to you!
Just keep driving around and looking! You will find some really cool stuff!
Flea Markets are another great place to source items! The catch is that you have to be a little more selective because the prices are a little higher on average. Just like the other arenas of sourcing, make sure you use the eBay app to search sold comps and live listings before buying anything to flip on eBay!
I bought 6 mix match Starbucks coffee cups at the last flea market I went to. I paid $1 each for them and sold them for $58.
There are great deals at flea markets! You just have to be a little bit more patient in most cases and make good purchases.
There are other places and ways to source items, but when you are just getting started these four listed above are the best.
I have recently gotten into gaylords of used books to sell on amazon and wholesale pallets to source items, and you can too. Just don’t start spending a ton of money with hopes of making a quick profit until you are making money and understand the hustle.
I will be creating another article on selling used books on amazon in the coming weeks.
Tip #3 Use the eBay App to your advantage!
There is nothing related to selling on eBay that requires money to get started the free eBay App is a wonderful tool and must be used properly to ensure your success! And it’s easy!
Just because something is nice, name brand and cheap doesn’t make it a great item to sell on eBay! That was my biggest hurdle!
For instance a nice new looking Tommy Hilfiger shirt caught my eye and had price tags of $69 on it checking online .
The shirt cost me $4 so I bought it, and was proud. What I didn’t realize is that in certain name brands, the colors of the shirts and how many are listed on eBay make a big difference, and the one I bought was a run of the mill tan long sleeve buton up. It took 6 monhs for that shirt to sell mainly because that brand was saturated on EBay, and I took a best offer of $12!
If the shirt had the really nice and colorful Hilfiger flag on it, it would have sold a little quicker.
I suggest that you familiarize yourself with several certain brands and ALWAYS search the item in the eBay app.
How to best use the EBay app!
The eBay app is extremely easy to use! It requires you sign up for a free eBay account if you don’t already have one. That can be done by searching Google for eBay and click on the get started button.
Then you will of course need to do the same when starting a Paypal account if you don’t already have one !
The eBay app is super simple and eBay puts a lot of time into their website and app design to make it that way.
Checking sold and complete comps
Checking the sold and complete comps on eBay is really simple.
1-Search for an item that you have found. When doing so type in the brand, simple description, color etc.
2-Once you have found that item scroll through the active listings you see. If you find an item that is $4 and there are 200 of them listed from $5 to $10 you might not want to buy that item to resell.
3- Once you have found an item that looks like it sells for pretty good money, then check the sold and completed items by clicking on the filters tab at the top right of the screen. Then scroll down to condition. Select new or used. after you have selected new or used, scroll down to the sold field and click it. This will also choose the completed field.
You want the completed filter because I have searched what looked like good items only to find that they ended without selling. It was either an eBay auction or the item was listed for a long time and the seller just ended it. This info is important as well because you don’t want to buy and list something you think will make a good profit if there are a LOT that didn’t sell.
4- Now scroll through the sold comps of that item and see how much it has sold for. Take a long survey of at least 10-20 items that sold.
Things like color, model and such, matter greatly. See if you can find the exact match or something close. When you come accross a big name brand that sells well and for good money, most likely it will sell if it’s in good condition and you set the price according to what other items have sold for.
5- Check the dates that the item sold on the sold comps filter!
You want to know how often this item has sold. By looking at the dates you know how many have sold this month or the past few months.Then you have a better idea of how long it might take to sell yours.
If the item has sold twice in a month and there are 100 active listings, you may need to adjust your rpice to become more competitive and sell yours quicker.
If you have slower moving items that sell for good profit, it doesn’t mean that you shouldn’t buy it. It just means you might have to store it a while if it doesn’t sell quickly, which brings me to my next point.
Watch the video below for more info on sourcing items for resell as a beginner!
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The First Investment after success!
This idea can be different depending on many different things. But often I am asked what the first investment other than a shipping scale and printer should be.
I’ve thought about this quite a bit and based on what I have seen from most people, myself included is that the first investment should be storage.
Nothing can dampen your enthusiasm faster than a house full of eBay listings! At the same time, I would never suggest you spend money you aren’t making!
When you have gotten to a sustained level of $!00 per month profit, I suggest that you get one of the rent to own storage sheds to store your eBay hustle. It shouldn’t take long at all before you get to that level if you are staying busy sourcing and listing at least 4 hours per week.
Everyone is different in some way and that is very true in your resell hustle as well. You may determine that there are other more important investments, but for our needs a place to store items was the biggest need for investment.
Finally, the most imporatnt tip I can pass along!
The most imprtant thing I can pass along to you as a reseller is to start!
Most people think about starting something to make their lives better, yet they never do because they are scared, intimidated or simply get hung up trying to learn everything about it before starting. This paralysis by analysis has doomed many people to never getting started in a field they really want to try, because paralysis by analysis leads to terminal procrastination.
The word someday is a word that will make sure your hopes and dreams follow you to the grave!
I’m sure you have heard people say that they will do a certain task or thing they want to do someday. Yet someday never seems to quite get there.
I urge you to get up from this article and find your first 5 items to list on eBay right now!
Take the information you have gathered and put it to use! Don’t think about it and talk yourself out of it! Do it!
With that I will wish you nothing but the absolute greatest of success!
Thanks for taking the time to read this article. I hope it serves you well!