| I get this question a lot and it has three answers: "Yes," | | | | System goes into great detail on how to select used |
| "no" and "maybe." Let's see which one applies to you. | | | | items to sell, how and where to source them and how |
| There is no doubt that it is much harder for the | | | | to sell them. |
| individual operating out of their home to make money | | | | Make Money on eBay with a Niche Market |
| on eBay today than it was even a couple of years | | | | The next strategy for making money on eBay is to |
| ago. When I started on eBay in 1999, eBay was a | | | | develop a small specialized niche market. This is in fact |
| license to print money. A little guy (or gal) like your or | | | | what most of the successful eBay sellers do. I often |
| me could sell almost anything and make money. As far | | | | get emails from eBay newbies asking me where they |
| as finding merchandise to sell you could source garage | | | | can buy DVDs, plasma TVs, Digital Cameras, iPods |
| sales or buy surplus and overstocked products from | | | | and other popular consumer electronic products. I |
| hundreds of dealers. Today, however, many of those | | | | suggest you forget trying to sell any popular mass |
| same dealers that use to sell to me, are now selling | | | | consumer product. These fields are very crowded, |
| the same items on eBay at the same price they used | | | | highly competitive and dominated by many large sellers |
| to sell to me. | | | | with resources and access to sources that the |
| There are still some overstock dealers who can | | | | average person cannot duplicate unless you have |
| supply product, but they are fewer. There is also much | | | | thousands or even hundreds of thousands of dollars to |
| more competition on eBay today than in past years. | | | | invest. Do you really think you can compete on eBay |
| Today there are over 1000 large companies with | | | | with Best Buy or Circuit City? |
| employees, warehouses and sophisticated distribution | | | | A niche is a small specialized product category that a |
| systems competing for the eBay bidder. In addition to | | | | small seller can play in. I currently sell in several niches |
| the independent large power sellers there are | | | | on eBay. One product I sell is a line of high-priced |
| companies such as Disney, Lands End, Bloomingdales | | | | wood burning firepits. I do have some competitors, but |
| Department Store and many others who either list | | | | not that many and I think I do a better job of selling |
| directly on eBay or have hired companies to sell their | | | | them. The price point of $227 is a high average selling |
| merchandise for them under another name. | | | | price, so I don't have to sell hundreds of items to make |
| Three Strategies to Make Money on eBay | | | | money. They are drop shipped direct from the |
| So what is the little guy to do? There are three basic | | | | manufacturer so I am not paying a middleman and the |
| strategies to succeeding on eBay today. There may | | | | market for these products has been steady now for |
| be more --but I know these three work, because I | | | | over two years. You can see my firepit auctions by |
| have done them and in fact still do them. | | | | clicking here. After looking at these you can link to my |
| Make Money on eBay by Selling Used Goods | | | | other auctions and see the other niche product |
| The first strategy is to sell used goods including | | | | categories we sell. |
| antiques and collectibles. The market for any type of | | | | If you go to the Free Articles page on the Skip |
| used goods on eBay will always be the purview of the | | | | McGrath web site I have a couple of articles about |
| smaller seller. The difficulty of sourcing merchandise | | | | niche marketing that are worth reading if this strategy |
| makes this a difficult area for large companies. At the | | | | interests you. In both The Complete eBay Marketing |
| higher end of the used market are art, antiques, | | | | System and The Wholesale Buying System, I cover |
| collectibles and rare books. If you have some | | | | how and where to find wholesale sources for your |
| knowledge and experience in this field, it is very easy | | | | niche products. |
| to enter. My wife and I had a small antiques shop | | | | Make Money on eBay with Consignment Selling |
| before we started selling on eBay, so we knew what | | | | The last strategy I want to point out for making money |
| was valuable, what the values of items were and | | | | with eBay is consignment selling. I like to call this the |
| where to find them. I can walk into any small town | | | | perfect eBay business: No upfront investment in |
| auction in America on any weekend and buy several | | | | products, no inventory, high profits and minimal |
| items that I can turn around and sell on eBay the | | | | expenses. Once you qualify you can register as an |
| following week and double my money or more. In fact | | | | eBay Trading Assistant and eBay will help you |
| we still do this occasionally. About a month before I | | | | promote your business for free. |
| was writing this article, we attended a small town | | | | Once you know how to sell on eBay, it is pretty easy |
| auction in Mt. Vernon, Washington. I bought a box of | | | | to find people who have goods to sell. My strategy |
| 1950s vintage advertising tins as a lot for $175. | | | | uses low cost targeted advertising. I spend less than |
| I broke up the lot and sold the pieces individually on | | | | $40 a month and can end up some months with over |
| eBay over a 14-day period for over $400 total before | | | | $10,000 or more worth of merchandise to sell . |
| eBay and PayPal fees. There were some other | | | | The trick to being successful in the eBay consignment |
| advertising pieces selling at the same auction that I did | | | | business is in learning how to market your services, |
| not bid on. They were very clever fakes --repros as | | | | learning what type of merchandise to sell --and which |
| they are known in the trade. The point of telling you | | | | to reject and how to control your fees. All of this is laid |
| this is that I could spot them but you might not be able | | | | out in my best-selling book, How To Start & Run |
| to unless you had the knowledge and experience. The | | | | an eBay Consignment Business, published in early |
| lesson here is that you don't want to go into an area | | | | 2006 by McGraw Hill Publishing Co. The book includes |
| you know nothing about. But if you do have | | | | all of the advertisements, forms, contracts and |
| experience in any specific area of art, antiques, | | | | resources you need to start and run a profitable eBay |
| collectibles, stamps, coins, or rare books, then this is a | | | | consignment business. |
| perfect --and fairly easy, way to build a profitable | | | | So back to the original question: Can the little guy still |
| eBay business. | | | | make money on eBay? The answer is "yes" if you |
| You don't have to work in antiques and collectibles. | | | | apply some of the strategies and techniques I outlined |
| There are plenty of other used goods that sell on | | | | here and if you take the time to learn the skills you will |
| eBay. In my book, The Complete eBay Marketing | | | | need. The answer is "maybe" if you try some other |
| System, I list all sorts of areas of used goods that sell | | | | techniques or just stumble around trying to learn as |
| on eBay. They vary from clothing to books, to small | | | | you go. And the answer is probably "no" if you try and |
| appliances, sporting goods and the list goes on. I won't | | | | compete with the big boys unless you have the |
| take the time to go into it here --it would make this | | | | financial resources and business experience to actually |
| article too long, but The Complete eBay Marketing | | | | build a large consumer products business. |