How to make money on eBay

Short of cash? Need an additional source of income? Well, one option is to sell things on eBay. Thousands of people make money on eBay, so why not you too be part of this crowd? Read on for some tips on how to make money on eBay.

Get your free account and sell things you no longer use for experience before buying stock to sell on eBay. Decide on the business to set up after selling a few things. Though you can sell anything, it’s better selling something you know or understand.

Research is important

Whatever you choose, do some research using eBay’s advanced search feature to find out what is popular and its selling price. This is important as if you plan to sell computer games, you don’t want to sell unpopular games! It’s through this preliminary research that you learn which titles consistently sell well, and which rake you maximum profits.

Now that you know how to make money on eBay selling something popular, you need to know where to buy your stock. Don’t expect sellers to divulge where they buy their stock from as it’s like their giving their business secret away.

Wholesalers or dropshippers

You can buy your stock from wholesalers or dropshippers. Dropshippers stock your supply so you don’t need any storage space. On receiving your customer’s payment, send it to the dropshipper and they will deliver the product to your customer. You just have to pay a fee to work with dropshippers.

Wholesalers can help you with how to make money on eBay if you have the space to buy and store their stock, and the money to invest. This is a bit risky as you may end up paying for stock which does not sell, especially if you don’t do your research first. You can find wholesalers through word of mouth or through Google. You soon will get to know not one but a handful of wholesalers you can buy your stock from.

Build feedback

The next part in learning how to make money on eBay is to build your eBay feedback. Feedback proves you are a good seller where the higher you score, the closer you get to become an eBay PowerSeller. There are five levels in the coveted PowerSeller status amidst eBay sellers.

The first is Bronze which is easy to reach but the rest requires building up of your product range and increasing your sales. With a great start, you may just achieve this status in three-months, the minimal required time.

Pricing matters

The last thing to consider is the pricing of the things you sell. It’s not sensible investing in expensive products for bigger profits. Instead, sell something you enjoy and can sell. With these tips, and some time, you will slowly but surely find the answer to how to make money on eBay!

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