The Downside of Selling on Ebay
You see the advertisements everywhere, 'How I make $thousands weekly selling on eBay' 'All you have to do to be a power seller is buy my eBook!' Even Amazon sells physical books on how to make profits on eBay.But the one piece of information they all leave out is that for every successful power seller, there are thousands if not millions world wide who either make a loss, break even or are still trying to increase their nickel and dime profits.The work involved in becoming an eBay seller is far more than people imagine when they start. Believing the hype in advertising it all looks so easy; just start raising money from all of your old junk in the attic.The problems start at the beginning when you list those first items, if your photographs are not clear enough you will be receiving many emails with questions. The buyer will always want to know something about a part that cannot be seen. The same in your item description cover everything.So from the moment your auction starts you realise you are suddenly tied to the computer, constantly checking emails for questions. And always there will be one who wants to know how much it would cost to send to some far away place in the world. This involves you working out a price, knowing full well they will not buy.Auction over, hopefully you sold your item at a good price. Now for the waiting time, will the buyer pay quickly or make you sweat it out. Apart from the fees Pay Pal is the quickest (although be warned, even that payment can be returned after you have posted the item), it is not unknown for the buyer, if from overseas, to send their countries bank notes.Now take a trip to the post office and mail out the package, always keep a receipt. Another waiting game, be wary of the buyer who claims to not have received the item, despite you having collected a signature on delivery.Apart from the stresses of the actual sale procedure it is time to review the finances involved. Fees, fees and more fees. Listing an item on eBay can be expensive against the value of the auction. You can be charged for the following:Listing an itemExtra photographsBuy it now optionPercentage of final valueIt is advisable to not take up any of the more expensive listing choices, such as Bold headings and more.Once sold, if your buyer pays through Pay Pal, they will deduct a handling fee and unless you wait until your account is at the agreed level for free bank transfer, they can make another charge to pay the money into your account.Always ensure you charge the buyer enough money to mail the item out, if the weight goes over your agreed price that's more money from your profit.When it comes to selling on eBay there is a lot of work involved, after organizing the actual auction, paying the fees from your profits, you then have the additional worry of feedback. Keeping a 100% good record is paramount for future sales. You are now at the mercy of the buyer, you have to do all you can to keep them happy, mail out quickly, keep in contact. Watch out for newbies, they have been known to post negative feedback to the wrong seller and eBay does not correct the posting, just adds a comment.The above is a taste of the downside of selling on eBay, to succeed: maybe learn where the power sellers buy extremely cheap goods in order to produce high profits. However, for some reason, that is never covered in their eBooks!
You see the advertisements everywhere, 'How I make $thousands weekly selling on eBay' 'All you have to do to be a power seller is buy my eBook!' Even Amazon sells physical books on how to make profits on eBay.
But the one piece of information they all leave out is that for every successful power seller, there are thousands if not millions world wide who either make a loss, break even or are still trying to increase their nickel and dime profits.
The work involved in becoming an eBay seller is far more than people imagine when they start. Believing the hype in advertising it all looks so easy; just start raising money from all of your old junk in the attic.
The problems start at the beginning when you list those first items, if your photographs are not clear enough you will be receiving many emails with questions. The buyer will always want to know something about a part that cannot be seen. The same in your item description cover everything.
So from the moment your auction starts you realise you are suddenly tied to the computer, constantly checking emails for questions. And always there will be one who wants to know how much it would cost to send to some far away place in the world. This involves you working out a price, knowing full well they will not buy.
Auction over, hopefully you sold your item at a good price. Now for the waiting time, will the buyer pay quickly or make you sweat it out. Apart from the fees Pay Pal is the quickest (although be warned, even that payment can be returned after you have posted the item), it is not unknown for the buyer, if from overseas, to send their countries bank notes.
Now take a trip to the post office and mail out the package, always keep a receipt. Another waiting game, be wary of the buyer who claims to not have received the item, despite you having collected a signature on delivery.
Apart from the stresses of the actual sale procedure it is time to review the finances involved. Fees, fees and more fees. Listing an item on eBay can be expensive against the value of the auction. You can be charged for the following:
Listing an item
Extra photographs
Buy it now option
Percentage of final value
It is advisable to not take up any of the more expensive listing choices, such as Bold headings and more.
Once sold, if your buyer pays through Pay Pal, they will deduct a handling fee and unless you wait until your account is at the agreed level for free bank transfer, they can make another charge to pay the money into your account.
Always ensure you charge the buyer enough money to mail the item out, if the weight goes over your agreed price that's more money from your profit.
When it comes to selling on eBay there is a lot of work involved, after organizing the actual auction, paying the fees from your profits, you then have the additional worry of feedback. Keeping a 100% good record is paramount for future sales. You are now at the mercy of the buyer, you have to do all you can to keep them happy, mail out quickly, keep in contact. Watch out for newbies, they have been known to post negative feedback to the wrong seller and eBay does not correct the posting, just adds a comment.
The above is a taste of the downside of selling on eBay, to succeed: maybe learn where the power sellers buy extremely cheap goods in order to produce high profits. However, for some reason, that is never covered in their eBooks!
