Online Money 101 - Teaching you affordable ways to make online money
Make money using eBay

eBay - A Couple Million People Can't Be Wrong...

Ebay is probably the most common form of online money that people tend to choose. The reason it is so popular is that its easy & anything can be sold for big money, not to mention that the buying and bidding process is addictive. If you’ve ever bought anything in one of these auctions you know what I’m talking about.
Anyway since its almost impossible in the time given to explain everything about Ebay. I will touch on a few of the Online Money 101 topics you’ll need to get started.

1. Sign up for both Click here for eBay! and PayPal. A few things before you start selling anything. It’s my advice to you to become a ebay “verified user.” It cost around five dollars & will verify that your listed Ebay address is actual. This will increase bids & bid amounts, since your customers feel more comfortable buying from a verified seller. On this same note I also recommend buying a few cheap items to start. Ebay is based on a number of transaction system. The more transaction you complete, the higher your rating. (high rating = high bidders) Also by purchasing a couple of items to start, you will be put like your soon to be customers; on the buying side of Ebay.


2. DO NOT try to sell anything to get your rating up. You will not be happy with the results. (low rating = low bidders)


3. To increase your rating quickly you can do this: 1st change your Ebay settings to Always show the shipping cost. Believe me this will help in the long run. Now type in the search box “E recipes” This should bring up hundreds of choices. You can now search for the lowest priced recipes. E recipes start at a penny to buy, and some even offer free shipping, because its an email recipe. This concept applies to anything that can be sent email or instantly. Ebay has a “feedback” system which allows sellers & buyers to give positive or negative feedback based upon completion of transaction. Instant results equal instant feedback. Hypothetically in a weekend I can open an account. Buy 100 items from 100 different sellers and get a 100 rating, which is perfect to make optimum money on Ebay. DO NOT buy 100 items from the SAME person. You will only get 1 rating point per Seller towards your rating. At least obtain a minimum rating of a 10 before proceeding.


4. Before you become an eBay Seller. Food for thought: The US postal system needs to become your best friend, to become a money making e Bay seller. You will need to know how much you need to charge your customers for the products you will be selling. Spend a little time online or even stop in and check out all the tools they have to make your life easier.


5. Finally its time to SELL. The first thing I did when deciding what to sell. Was to look for low shipping cost items. Meaning look for small light-weight items that don’t cost a lot to ship to someone. ie… If you are going to ship a steel disc or a vinyl album, which one is going to cost more to ship? That needs to be thought about when selling online. I tend to use bubble mailers or padded envelopes. These are relatively cheap to purchase or make, and allow me to pad my contents, as well as my shipping cost. Yes I am one of those people who charges more for shipping than it actually cost. This allows me to offer a lower starting price, which tends to create a little bidding frenzy. I’ll give you a little example of how this works: It cost about 65 cents to send a collectible sports card, placed in a bubble mailer to someone in the U.S. However in the shipping section on Ebay I place the cost of shipping at $2 ½ - $3 per item. This ensures a profit of $1.75 – $2.25 for each item sold regardless of final bid amount. Also the bubble mailers usually do not require any additional shipping services. Simply place the item securely cushioned in a bubble mailer. Drop in the mail. Wait for Feedback. That’s It. Once you understand what can be sold thru bubble mailers & how much it cost to ship each item. You can start looking for things that can be placed in bubble mailers to start selling.


6. My personal recommendations for bubble mailer type items are: Jewelry, DVD, Books, Magazines, Small Toys, Trading Cards, Fishing Lures, T-shirts, etc… Where do you find these types of things? Try your house, your friends, clearance racks at retail stores are awesome little Ebay treasure troves. I literally find thousands of discounted or marked down items that sell instantly on Ebay. So much is clearanced out nowadays, that anyone could easily make a living just selling retail close-out items. Other great sources of Ebay material include: yard sales, flea markets, thrift stores, or 2nd hand stores. But like I said earlier you will have to do the research and spend a little time learning something new. I am simply showing you a small portion of the money that Online Money 101 already know exist online today.


7. Once you’ve accumulated your items for sale its time to discuss a few more major points consider: A. Title – Make sure its descriptive with good keyword choices. B. Description – Be specific, mention features, mention your 100% rating, quick shipping. Do not litter your page with useless banners, images, multi color themes, etc.. These only will distract from the product being sold. C. Picture – A quality picture is a MUST. Would you buy from a stranger, without ever seeing the item your buying? O.K Then. Use a quality picture & be sure to add it to the gallery listing. Listing with gallery photos will sell at a higher percentage than those without. D. Pricing – There are many thoughts on pricing. Buy it Now. Start Low. Start High. All acceptable procedures. However I prefer to start my auctions at 99 cents. If your starting price is under a dollar, you are charged the lowest commission fee. If you start at 100 dollars, you will pay much more just to list the item, regardless if it sells or not. With a 99 cent listing, you are saving eBay listing money. Plus your shipping has the 2-3 dollar profit padding per item, just to start. The idea is to find items that even if sold for 99 cents still put 1-3 dollars in your pocket per sale. If the item sells for more, its just more profit to you for doing nothing other than listing the item for sale. Not bad if you consider that you can buy items in bulk or lot form. Turn around write one listing, take one picture, list the single item for sale using the OnlineMoney101.com methods we’ve discussed, and once the auction ends. Simply hit the “Re-list” button, and a identical auction will start immediately, using the same information from the prior auction. Every time you hit re-list button, another $3 minimum profit is on its way. You can do this over & over again. It really is that simple.


8. This is my own personal Ebay success story: 2 years ago, after discovering the methods discussed above. I found a hidden gold mine at a local retail store: Manufacturer Rebates. I’m not going to explain how rebates exactly work. But in a nutshell you get money back after buying their product. Anyways I found a great deal one day. This store was offering a brand name fishing lure & coffee mug combo pack for $4. Ironically enough, the manufacturer had offered a $4 rebate on this particular combo pack. I didn’t ask why and neither should you. The fact is, all around the state were stores with pallets of these; free after rebate combo packs. Needless to say I bought PLENTY of them. What I did was took the fishing lure, which was in its own sealed package and sold them for… You guessed it 99 cents with 2 dollars shipping. The funny thing is that most of the lures actually sold for about 3 dollars WITHOUT the shipping cost added in. Not to mention that since I had already created my listing, I just hit the re-list button and another auction was under way. I simply waited for payment, place the lure in a bubble mailer, put a stamp on, and wait for my next payment. Side note: most people that bought the lures were newer customers looking for low priced items to get their rating up. I was there to help them, help me. (Always look for the win win) Oh yeah. I also was able to make use of the mugs that were now leftover as well. Put 4 of them together, box them up, and auction them off on eBay as a “New Lot of 4 Ceramic Fishing Mugs...”


9. As I said earlier there is so much info to share about making money on eBay. That I will leave the rest of the specifics to the other Ebay Experts Just remember this: Avoid skeptics. DO IT FIRST. Then TELL people about it.( Do Not reverse the order ) I love everybody in the world, but when it comes to things people don’t know. Boy they really can tell you why They think it will never work. We live in a great era today. We have more resources available to us then ever before. If you are reading this, you already have everything you need at your fingertips.( Think about it.) More and more people today are making a Full Time living from selling items on Ebay. Whether yours is full time or just here and there to earn some extra money. If you are not already involved with Ebay, you really will regret it later, as more and more, LOCAL success stories are shared.


 

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