Ebay - better profit margins than a car boot (ebay.co.uk)

Member Name: bucksfizz66

Product:	ebay.co.uk
Date:	22/05/09 (39 review reads)
Rating:

Advantages: Easy to set up, feedback and resolution ensures rogue ebayers kept to a minimum

Disadvantages: Being an ebayer is addictive

Following is the Ebay seller perspective here.

Registration with ebay linked to a paypal account is necessary in the first instance, a simple process not unlike joining any other auction websites.

Ebay makes its money by charging a small insertion fee for any item listed, if its sells they charge a final valuation fee (normally about 10% this can vary depending on if you sold a car for example where there are fixed amounts).

Paypal makes its money by charging you a percentage of the amount paid into your paypal account by the buyer, the buyer incurs no charges. If selling a car (or other item likely to be more expensive) i would recommend thinking about getting paid in cash (and buy a note checking pen from a stationers) otherwise the paypal fees can make a real dent to your profit.

As a seller it is worthwhile doing abit of research on the items you want to sell, who else is selling these and are they getting bids, if there a whole series with no bids it may be worthwhile considering other options.

If you are happy your item will sell then, take a picture of it, upload it to your PC, then start to list your item, and be as candid and descriptive as you can. You don't want to give your buyer any surprises. Once the description is complete, review the delivery and payment options, then preview your listing and if happy confirm.

Listings can last for 1 day upto to 2 weeks and more, you can also enter a Buy It Now price, but this does have another charge. The insertion fee is based on the auction start price, do not be afraid of starting low at £0.99 as this encourages more to look at your listing, even when the bidding starts.

For more expensive items it may be worth considering a reserve price that must be met so that you don't lose out, there is a price for setting a reserve but it can be worth it.

When an item sells, you process the invoice to the buyer, they pay, then you despatch. Postage can be bought and printed off in paypal but you are better off going to the post office and getting the actual price - to enhance your profit.

Once the transaction is complete both buyer and seller are encouraged to leave feedback which future bidders and buyers can see so you establish a reputation and this helps others to decide whether to buy off you. The feedback accrues as a point score with colour coded stars.

If your buyer doesn't pay after 7 days from the end of the listing, then you can take this to ebay dispute resolution who will prompt the buyer, if the buyer goes onto pay you can close the resolution, if they don't ebay will reimburse the final valuation fee and you can re-list for free. if the buyer doesn't pay they receive an upaid strike mark which all can see - too many and they're out. This is a good system as it stops rogue ebayers, they are about but the system is configured to prevent this.

Ultimately you will get more for your items on ebay than a car boot i have found so make this your first port of call.

Summary: Ebay - go on make yourself some money