tiffany rings on saleGoing
once! Going twice! Sold! Sound familiar? It’s the sound of a
traditional live auction but, thanks to the technology of today, you
can buy and sell 24 hours a day, 7 days a week. Many people have chosen
eBay as a work-at-home career and many are quite successful at it. Gone
are the days of having to wake up early and get out to the auction
before all of the treasures are gone. These days, a world of treasures
are no further than the click of a mouse.
Because many people
list auctions each and every day, eBay offers PowerSeller recognition
to qualified sellers. In order to be selected, you must generate an
average of $1,000.00 in sales for 3 consecutive months. This will get
you listed as an entry level PowerSeller and, as revenue increases so
will your membership.
There are wonderful opportunities for the
casual seller but, for individuals who are looking to earn some serious
cash, here are 10 tips to get you started.
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1.
Find a niche and stick with it. If you want to sell collectibles, sell
only collectibles. Buyers will recognize you as a specialized seller
and respect your presence as a knowledgeable expert.
2. Sell what
you know. If you are an expert in jewelry, make it your business. When
people ask questions about your merchandise, they will feel comfortable
dealing with someone who is so well-educated about their products.
3.
Be competitive. Auctions start as low as $0.01, but avoid this method
unless you use a reserve or can afford to take the chance. To be
competitive, you need to offer one of the best opening prices,
reasonable shipping rates and provide a terrific description. You will
also need to list your shipping and payment policies clearly.
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4.
Buy in quantity. If you are in a position to do so, buy in large
quantities and enjoy the discounted cost for bulk buyers. By purchasing
large quantities of one item, you can save big bucks and pass those
savings onto your customers. When you list an auction, sell at a fixed
price and offer all of the items under one listing fee. For example, if
you have 30 rings that you want to sell for $9.99, select the Fixed
Price listing option. When prompted, enter a quantity of 30 and a price
of $9.99. With this one auction, you have the potential to sell all 30
rings and only pay one listing fee. If you are selling the right
product, and the right price to match, this method will work wonders.
5.
Offer customer incentives. If your budget allows it, send your buyers a
10% off coupon with every order. Print off some coupons on your
computer and let your customers know that they can apply them to their
next purchase. This will entice them to return to your auctions and,
the more bids that everyone sees on your items, the more appealing your
products become.
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6.
When shipping your items, pay close attention to the presentation. If
you are selling jewelry, purchase gift boxes in bulk and place one
piece of jewelry per box. Place the jewelry inside of a small jewelry
ziploc before fitting it inside the gift box. Your customers will
appreciate having their jewelry delivered in a brand new gift box and,
if it’s a gift, it will be ready to present to the recipient.
7.
Customer service is important. Answer questions promptly and always be
courteous. Not every question will make sense, but be patient as new
people sign up and try to adapt to online auctions. You may get
questions about everything from how to bid and pay to questions about
your product. Buyers will appreciate if you take the time to walk them
through the process, especially if they are new. We all need a little
help now and then.
8. As your business becomes more established,
search for more wholesale and distributor companies to order from. The
larger companies, which offer some of the lowest prices, also require a
minimum order. This can be inconvenient when you’re just
getting started and have a tight budget, but if you have the cash to
spare - check out some of the large wholesalers and take advantage of
their minimum orders. Dollar for dollar, they have some of the best
deals for the lowest prices, but you have to agree to buy a fair amount
from them.
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9.
Be creative. If you have an idea that nobody else has tried yet, go for
it. If you like autographs, turn it into a business. Take the
autographs and turn them into a quilt by having quilt squares signed,
sewing them together and presenting a rare autographed quilt. You are
limited only by your own imagination.
10. The last and final tip to
boosting your eBay business into a PowerSeller status is to stay
positive. It takes awhile to get there, but you can make it. Becoming a
serious presence on such a large auction site will take a lot of hard
work, dedication and customer service skills. You must have patience
and you cannot give up. There will be other businesses competing
against you at every turn. If you sell for $9.99, someone else may
offer a similar product for $8.99. But, don’t worry - you
will develop loyal customers and they will return to buy from you. A
final thought - never tell anyone about your wholesale source. You may
get questions asking you to disclose where you got the items, but
don’t reply. These are likely other sellers trying to find
out where you got the great deals.
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