How to make money on eBay

If you want to make money selling stuff online, there are many niche marketplaces to choose from. There’s Etsy for crafts, Poshmark for clothes, and Swappa for cell phones and other electronics.

But eBay is a giant with 171 million active buyers worldwide. The website sells a woman’s handbag every six seconds, a cell phone every four seconds, and a pair of shoes every two seconds, the company said.

If you decide this is the right place to sell your stuff, here’s what you need to do to make money on eBay.

The 4 best tips for making money on eBay

  1. Determine if a subscription is right for you
  2. Price items competitively
  3. Use high-quality photos
  4. Provide superior customer service

Determine if a subscription is right for you

On eBay, you can be a standard seller or opt for a store subscription if you’re willing to pay for it. Your best and cheapest option will depend on the type and number of products you want to sell.

If you don’t have a subscription, you can post up to 50 articles per month free of charge. After that, each entry costs 30 cents. In most cases, eBay also charges these sellers a final value fee of 10% of the total selling price. It is capped at $750.

There are three subscription tiers: Basic, Premium, and Anchor. Subscription fees range from about $20 per month to $350 per month; Subscribers can choose to pay monthly or commit to a year for a lower price. These sellers can list thousands of items for free and pay a lower listing fee for additional items than standard sellers. You pay a final value fee of between 3.5% and 9.15%, capped at $250 for most items.

For example, if you sold five refurbished tablets for a total of $500, you’d pay a flat fee of $50 if you don’t have a store, or around $40 if you have a basic annual subscription. That extra $10 might not be a lot for the casual seller, but over time it could make a difference in an active seller’s bank account.

Price items competitively

Before listing, research the current market for your items. This will help you set competitive prices and increase your chances of selling.

Start with an advanced search of eBay’s sold listings in the appropriate product category. Include all relevant keywords; Otherwise, you will likely be redirected to the general category page. For example, to find the price of these refurbished tablets, you could search “Samsung Galaxy Tab A Tablet refurbished 7″ 8GB.”

“I’ve noticed over time that my competitors are listing the same items as me for a penny less than my listing, so it’s important for me to keep track of the price and content of my listings so that my Product works stand out from the competition,” said Nicolaus Wolfrum, owner of an eBay automotive business who was selected by eBay as a finalist for the SHINE Awards for Small Business.

You also need to decide which type of offer you want to use. eBay is known for its auctions, which can last anywhere from 1 to 10 days for most items. But fixed-price items make up 88% of the site’s listings, according to the company. It’s generally best to set a fixed price unless you’re selling items that are in demand or of undefined value – think rare baseball cards or antiques. In these circumstances, potential buyers are more likely to try to outbid each other and drive up the selling price.

Once you have those details worked out, use this calculator to start estimating your profits after shipping and location fees. But you must consider other costs to determine your final earnings. For example, using PayPal to process payments costs 2.9% of the final sale price plus 30 cents. You may also have to make estimated quarterly tax payments depending on how much you make from the site.

Use high-quality photos

To create an entry you must provide at least one photo of at least 500 pixels on the longest side. But the site may already have thousands of listings for similar products, so be sure to take a few more high-quality photos to highlight your offering. Most listings allow you to post up to 12 photos for free.

Photograph your items on a flat surface against a plain white background. Capture images from multiple angles and show specific details. Also, strive for high-resolution photos. These should be between 800 and 1,600 pixels on the longest side. These images look clearer and have the zoom feature enabled.

Good lighting also helps you stand out in a sea of ​​mediocre photos. You don’t have to invest in professional equipment now. Instead, try shooting in natural light without a flash. If you sell small items, you can make your own lightbox for about $10 using a white poster board, a cardboard box, and a couple of lights. You can always upgrade later.

Provide superior customer service

Customer service is the cornerstone of any online business. On eBay, this is measured by ratings that appear on each seller’s profile. These cover your communication, the accuracy of the product description, shipping costs, and delivery time. You will also receive an overall positive rating. This is shown as a percentage and highlighted on product listings and your profile. Every sale is an opportunity to increase (or decrease) your score.

Start right away by providing an accurate title and detailed description for each product, noting any defects or discrepancies in quality. This can help build buyer trust and secure sales for you.

Shipping also plays an important role in customer service. According to eBay, two-thirds of packages are delivered in three days or less, and most items ship for free. These standards can be difficult for new sellers to meet. If you can’t offer free shipping, focus on responding to questions quickly and providing delivery tracking and updates.

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