Strategy #3 — What Not to Sell Upon eBayDeciding what to sell on eBay will be among the essential decisions you will make with your eBay business. It will eventually determine your success associated with failure. Many mistakes could be corrected along the learning competition of getting your eBay company up and running and then thriving; however, there is no solution for the issue of selling something that no one wants to buy.
If You Develop It. Will They Arrive? I recently worked with a client who thousands of men’s ties he wanted to sell. He did some preliminary research and noticed that close ties had been selling very well on auction websites. Because he had obtained their inventory for pennies on the dollar, this individual thought he would set up an eBay business to sell away his ties. I was employed to help his staff obtain set-up on eBay, having a seller’s accounts, a Paypal business account accounts along with FedEx, UPS, and the ALL OF US Postal System, and a proprietary system to manage their stock. They even went out and employed a professional photographer to take photos of their items.
I skilled the staff in how to run a productive eBay business, how to ideal present their items, tips on how to schedule auction start along with end times for most excellent exposure, how to maintain good buyer contact and service, as well as how to package and ship their very own items. In the month that they went live with their initial auctions. They sold several ties the first month. The master and his staff were emaciated. They felt they had invested a lot of time and money in setting up their Craigs list identity, hiring a consultant (me), and being trained along with proficient with the eBay promoting process, so they couldn’t discover why they were not generating any sales.
The Hard Real truth They looked to me for your answer. I reminded all of them that throughout the process of creating their eBay business, I had warned them that the center to low-quality men’s connections was not the type of item that would just fly off the shelves. The truth is that their ties were not selling simply because no one wanted to buy them. Nicely, that’s not exactly accurate since it turned out three people wanted their ties in the first month. If they had been committed to selling this product, they would have to be in this for the long haul and not be prepared to generate the quick earnings enjoyed by eBay retailers with more “sexy” or stylish, high-demand items.
They would have to commit to an eBay keywords strategy, build their feedback by getting 100 items up on eBay, and develop an online marketing strategy that included off-eBay special offers. There are more variables at performing in having auctions finish successfully than are sometimes apparent to new eBay retailers. Still, they are the same factors that regular brick-and-mortar retailers have to contend with.
The rules here may seem obvious, but they are worth noting. What Not to Market: Rule 1: Do not market an item that already offers more than ten auctions operating with no bids. If you look on eBay and see that there are many auctions recently for your item and that most possess ended with few or any bids, stay away from selling that item. Additionally, if the item has received offers, but the bids are less than the price you would want to get, this is a good cause to stay away from the item.
Precisely what Not to Sell: Rule two: Do not sell items you understand nothing about or which have a steep learning competition. For instance, cars. There are many individuals, individuals as well as auto sellers making a lot of money selling vehicles on eBay. But it is not a good choice for an item to market if you don’t know anything about vehicles. I once was contracted by a client to sell a significant meteorite that had been on his property for some time. I knew nothing about meteorites, the different types, their very own value, or anything. My spouse and I told the client that I had not been prepared to help him sell this item without initially doing much research.
They insisted that anyone who had seen the auction and wanted to buy it would be familiar with its value and that I would just list it and let the craigslist marketplace determine the value. I have just that, but not before using research so that I could list their auction listing. Unfortunately, the details I listed in the market about the type of meteorite I was selling were incorrect. I got a ton of emails from probable bidders telling me precisely how wrong my outline of the meteorite was. My spouse and I ended up removing the listing via eBay early because of the answer of the people who frequent amazon and know about meteorites.
Just what Not to Sell: Rule a few: Do not buy items from wholesale to resell on eBay. It is impossible to make money on eBay by purchasing items at wholesale prices and then trying to resell them on amazon. The eBay marketplace won’t support that type of business structure. There are simply too many people offering items that you can source doing this. If you can get the item from suppliers, probably so can hundreds of or more other people, all of whom are probably trying to sell them on eBay. The competition over traditional wholesale to retail store models is too steep. Furthermore, unless your item will be the next iPod, you won’t acquire anything close to its retail selling price on eBay. (There are some exceptions to this, which I’ll get into later. )
What Not to Sell: Principle 4: Do not sell things that consistently close at lower than $30. It is hard to make an income, let alone a living, on amazon, relying on items that sell on eBay for very little funds. Some people will obtain an item for $4. 00 and sell it on auction to get $8. 00, and feel they made 100% benefit. This borders on an insanity workout. That $4. 00 merchandise had to be listed on
craigslist and eBay, more than likely with photos. Often the auction needed to be monitored, having any bidder’s questions responded to. Once completed, the item would have to be packaged and shipped. In addition to the $4. 00 “profit,” there are those pesky craigslist and eBay & Paypal fees to bear. So, the item you gave is $4. 00 for $0. 60 to the collection with a gallery picture, $0. 95 for eBay Report & Final Value in addition to $. 053 for Typical Paypal fees.
The total fee for listing and providing the item on the bay is $1. Fifty-five add to that often the $4. 00 the amount this item costs you, and you usually are left with a whopping $2. 45. If you subtract a decreased cost for your labor, that item on which you imagined you made $4. 00 has cost you income to sell! If you spread this philosophy across your entire craigslist and eBay business effort, you will walk out of business in a very short time.
What Never to Sell: Rule 5: Tend not to sell anything on eBay’s list of restricted items. These are a no-brainer as long as you know that we have a list of items that are disallowed from being sold on amazon. Although people consistently try and blouse this rule, some of the things on the list include weapons, including guns and knives, animal coverings, American Indian artifacts, and human body parts.
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