EBay has been one of the top e-commerce marketplaces since its launch in 1995. Some online sellers simply use the platform to sell unwanted items. But it can also be a platform for a successful online business. If you want to make the most money on eBay, here’s a guide.
How much does the average eBay seller make?
The average eBay seller earns around $35,000 per year. Some high earners earn up to $70,000, and many only earn a few thousand dollars a year. It all depends on how much inventory you can sell, the price of your items, and any additional expenses you incur, such as shipping materials. Learn more about eBay Statistics will help navigate the site with more information.
How to Sell on eBay and Make Money | 16 Tips
If you are ready to start your own business, the platform offers many features and eBay SEO Tools that can help you make money online. The following tips should help you get the most out of the platform.
1. Choose a niche
You’re more likely to attract repeat customers if your store has predictable inventory. You can even convince some people to buy a few items at a time if you sell several options that interest them. For example, your store might focus on video games and accessories, collectible sports memorabilia, or vintage clothing.
2. Get more inventory at garage sales
Before you can start selling products on eBay, you need to buy inventory. The less you pay for each item, the more profit you can make. So look for the following garage sale items and discount options:
- Garage sales
- Thrift stores
- Real estate sales
- Discount warehouses
- Facebook Marketplace
- Local exchange groups
- Flea markets
3. Offer free shipping
Shipping costs can be an important factor for customers. Instead of charging extra to ship items, consider reflecting packing and shipping costs in your product listings. They know that anyone selling things online has to ship their items. So seeing the all-in-one price instead of adding extra fees at the end can help you close more deals.
4. Find out the average sale price
eBay users also often compare prices of similar items. It is therefore important to understand the market value of what you are selling. If you keep items at a fixed price, look at what other sellers are charging for similar items. If no one on eBay sells similar products, check other sites or consider the price of your inventory and materials.
5. Have a low starting price
Alternatively, many eBay sales are auction-based. So you only set selling prices as a starting point. And eBay buyers bid what they’re willing to pay. This is often preferred for higher priced items like collectibles or those that have a lot of interested eBay customers. Just set a low starting point for more people to bid and watch.
6. Consider an eBay Dropshipping Business
Starting a dropshipping business can help you save money on inventory and increase your profit margins. With this model, you would work with a dropshipping company to manage your products and logistics. And you would just list and market the products online.
7. Choose between a personal eBay store and a business account
When you create an eBay account, you can be an individual eBay seller or a business. Business accounts allow you to sell larger volumes and capture business information such as your company name and branding.
8. Look at your competition among other eBay sellers
Market research is part of starting any business, even on eBay. Before you begin, check the search results for the categories of products you plan to sell. Then continue to monitor the best shops in your niche for trends. For example, some products may increase in value, so you can make more money by listing them a bit higher.
9. Use high quality photos
Photos are one of the first things potential customers are likely to notice when they see your eBay listing. A clear image with a plain background is likely to display well. Then include additional photos that show the scale and various features of each item.
10. Set a reserve price
If you’re considering hosting auctions on eBay, consider the lowest price you’ll accept for each item. If the reserve price is reached by a bidder, it can be sold at the end of the auction. Otherwise, the product does not move.
11. Avoid negative comments
Like many other marketplace sites, eBay allows customers to leave reviews to increase buyer confidence. Potential buyers are likely to check your eBay history to make sure you’re selling quality products and delivering them quickly. Providing responsive and honest service can help you garner positive reviews.
It is therefore extremely important to keep track of your customer correspondence. Make sure you learn how to communicate effectively on the platform, including how to refund a buyer on ebay. One way to avoid negative feedback is to have a great refund policy.
12. Sell Profitable Items
Certain items like collectibles and vintage tend to be popular on eBay. If you can get these items at a reasonable price, you’re more likely to make enough money to cover all the expenses and make a profit. Check out the best sellers and trends in your industry to find these items.
13. Include keywords in titles and descriptions
Many buyers search for specific product categories on eBay. So think about what people might be looking for in your niche when listing. Include a very basic description of each item, including major keywords, in each title. Then go into a little more detail in the descriptions to answer any questions buyers might have.
14. Don’t Forget Fees When Pricing Items
Many sellers on eBay only consider their product spend when listing items for sale. But you can lose money this way because there are other expenses like flat rate boxes, shipping, and eBay fees. Incorporate final value fees and other relevant details into your pricing so you can sell items profitably over time.
15. Cross-Promotion Items
If you have social media accounts or are active on forums related to your niche, use them to promote your products. Include a link and photo in new messages or send them directly to contacts who might be interested.
16. Regularly list new products
The more products you list, the more you can sell. And eBay also tends to show more results from active stores. So keep listing and bringing in new products daily to build your store and keep earning money over time.
Now that you know how to make money selling on eBay, use our tips to increase your income
EBay can be a powerful platform for making money and building a business. The tips above can help you take advantage of the opportunity and generate as much profit as possible in your niche.