It’s no secret that eBay has changed their practices in order to accommodate the larger companies, and in some people minds “sticking it to” the smaller businesses. As they try to become more competitive with other sites like Amazon it seems that eBay has forgotten where they came from. They seem to have forgotten that it was the “stay at home mom”, the small businesses that actually keep them in business in the beginning. And judging by the decrease in their revenues they might reconsider their business model.
But the question remains, “Can a small business still make money on eBay?” The short answer is yes. But you have to be smarter about how you approach selling on eBay. You have to be sure that the items that you want are the things that people are willing to buy. Not actually only willing to buy, but willing to pay an amount for that will make you a profit.
Having been buying and selling on eBay since 1996 I was one of the first ones to try out this new auction site. I have since bought and sold thousands of items on eBay and have obtained the PowerSeller title. I say this just to let you know I’ve been around for awhile and have first hand experience on the changes that have occurred on eBay.
One of the things I have learned for sure is what sells on eBay but more importantly Where to Find what sells on eBay. I’ve tried numerous things and some I’ve had great success with and others have been a disaster. Here are some of the things I’ve tried and some I haven’t because I wasn’t willing to take the risk.
Garage Sales and Thrift Shops can be a lot of fun. But for the most part you get up early, drive all over town hoping to find a few good items that you can sell. You end up spending a lot of time and gas money and usually end up with nothing. Garage Sales are usually held by people that are trying to get rid of their junk. Once in a while they don’t realize that their “junk” is actually a great eBay item. If they happen to be selling that rare item you also have to be the first one to find it.
Buying in Bulk, Wholesale or Liquidations. This sounds good but usually you have to buy large amounts and most of these items have been brought back by consumers as returns. A lot of those returns are because the item doesn’t work properly. One other thing to consider is the fact that a lot of the “Bulk” dealers cherry pick over the merchandise and take the good stuff and then sell the remainder to unsuspecting buyers. I find this approach risky and have thus far steered away from it.
Dropshipping. Once again you are dependent upon someone else and if they will actually follow through with their part of the sale. If you run an auction and after you sell the item you send the information to the dropshipper they could be either sold out of the product or for some other reason the product isn’t shipped then you are the one that gets the bad feedback and we all know that the feedback you receive will affect your business.
So, what is the answer? You have to find unique products that are at a high demand and not be dependent upon a middle man to supply you with them. Those type of products are collectibles and antiques. There are many collectors of so many different items that are more than willing to pay a premium for them.
Simple Way to Auction Profits shows you an amazing way to cash in on eBay and other auction websites.