How To Make Money On EbayIn the article about making money from home we talked about using websites and affiliate marketing to build your wealth. While making money on Ebay also falls into the "make money online" category, it deserves attention on its own. Ebay is an entire universe in online business.
Why is Ebay so special?
First I want to point out that Ebay is not the only auction based website. You can apply the knowledge gained here to other auctions as well. But Ebay is the biggest web based auction with huge number of users that has become a byword for "auction site". Some people even claim that Ebay receives more searches daily than Google does. Can you imagine the unlimited money making potential that it has?
Ebay started as an auction place moslty for people to sell their used items online. Quickly however it was targeted by marketers, manufacturers, traders, drop shippers, affiliates, artists and even huge companies who decided that it's the best place to make business.
The potential of Ebay as a money maker is still unbeaten! But how can you use it at your favor? I will talk only about few of the best ways. Let's be serious, going to garage sales, buying some items and selling them on ebay is not an option - you aren't going to make a decent salary this way. Here are some real options:
Make Money By Drop Shipping
This is one of my favorites. Drop shipping means to sell someone else's produces - and I am not talking about virtual products, but real world ones like electronics, furniture, bikes, cars, boats, even aircraft! Now listen to the best part: you don't need to ship the products yourself - that's why it's called "drop shipping". The companies just wants you to do the marketing and find customers - they ship the item directly to the buyers. And what better marketing could be there than listing the products on ebay?
A huge part of the auctions you can find there are driven by drop ship marketers. Of course it's not as easy as it may sound - finding good drop ship companies can be a hard task. I recommend you to read this drop ship business guide if you want to learn more about this great method.
Selling stuff you bought wholesale
If you are ready to get into more involved business, you can combine drop shipping with some real shipping. Just like the local stores do by selling to people who come in, you can buy stuff wholesale and sell it on ebay. If you choose good products and can offer competitive prices, you will make good money.
Why would you prefer to buy wholesale rather than drop ship? A couple of reasons:
- Finding goog srop ship companies and products is hard. Finding good products wholesale isn't easy either, but your choice is much bigger.
- Profit margins can be higher. It all depends on what quantities you can purchase and how well you'll sell them on Ebay.
Of course, shipping the items yourself takes time so you should plan it well not to end up working more than at regular job, but making less. You will also need storage space - maybe it will be your home, garage, storage shed or anything else, but you must think for this as well.
The main advantage of both methods is that once having good products and nice profit margins, you can look for more channels to sell. You can open a web store, local store, sell through advertising and so on.
Selling e-books might be a bit overrated. People are a bit distrustful to e-books nowadays because too many of them are waste of time and money. Still I want to point out this method for making money on Ebay - mostly because it's easy and scalable (once you have written the ebook of course).
E-books require no shipping, no storage space and you can sell as many of them as you wish at no additional costs. You can outsource the writing and design work or buy PLR e-books - there's no need to write a book on your own.
Selling artwork or other handmade items
If you know or can find someone who makes good handmade items or artwork you can help them sell on eBay and earn nice commissions. The handmade items are unique and that puts you in better position than someone who sells things that can be found elsewhere. Of course you need to find or make items that people are looking for. Check the existing Ebay auctions and notice what items are being listed and sold. The autocomplete feature that comes under the search box in Ebay can be an excellent guide to you - if something is suggested there you can be sure that it's searched often enough.
Look in the less known categories
Most Ebay sellers go for electronics, furniture, health and beauty stuff, and so on. That's good, there is a huge market there. But if you want less competition and focussed audience of buyers, you'd better look at less popular categories. Check for example "Everything else" category: there are categories for adult stuff, religious items, methaphysical goods - all interesting things with less competition and eager buyers.
Even popular categories like "Home & Garden" contain interesting, less competitive sub-niches. Just research, don't jump on the first thing you see. Use your brain, Goodle and a calculator to choose good niches in which you are going to sell.
Making money on Ebay is possible for everyone, but like in everything success doesn't happen overnight. Get prepared to study all the time, to take some risks and to get your hands dirty and then start exploring the methods I have suggested in this article. You have even more ideas? Great, go ahead, the opportunities on Ebay are really unlimited.
Published at Jun, 02 '09 , Read 7482 times.
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