#1 – Research the product you plan to sell
There are so many resources available on Ebay to see what is currently selling and was has previously sold in a variety of categories. You should know what is available to the buyers on Ebay in order to price and market your item effectively. Whether you are selling something from your attic or a large lot you are separating to sell individually, if the marketplace is flooded with inventory that isn’t selling, you are better off sitting out if you aren’t willing to undercut everyone else’s price. Searching what has sold and what kinds of products have received a lot of attention and bidding will steer you towards what is hot and will move quickly on the website.
#2 – Know how to sell
Work on writing well-written product descriptions and present your product, whether it’s a new Ipod or just an old appliance from the attic, as professionally and detailed as possible. Do some research on some of the sellers who are most successful on Ebay and find the common characteristics of the products they sell or the way they conduct business. Consider using the Ebay listing designer program, which for a minimal fee will allow you to create a theme and add a variety of eye-catching features that will draw attnetion to your product.
#3 – Be Flexible
Know what your bottom line price is for a product and be prepared to go down to that point if necessary. Through your product research you will have a good idea of what to expect, but a marketplace for any product can change without notice so expect the worst and hope for the best. Also be prepared to relist your item is it doesn’t sell within 7 or 10 days, depending on the listing duration initially chosen.
#4 – Know when Ebay might not be the best choice
When you are on a timeline (within 2 weeks) and you are willing to sell for less than true market value, Ebay is the ideal why to get your product out to the buyer as well as using the auction-style format to create interest and urgency in your item. When you have an item that isn’t cramping your style at home (maybe you’re moving in a couple months and will need to down-size a little bit) and want to sell more than have to sell it, a regular newspaper ad or Craigslist.org listing would be an avenue to gain a higher price for the product. With every situation and item you have to sell, there might be a more effective way to find a buyer. Ebay is an important resource, but should not be considered an end-all solution to your selling needs. Happy auctioning!