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Get
Yourself A Piece of The eBay Pie
Author:
Michael Schandorf-Lartey
Posted on: July 07 2005
Ebay is without a doubt the
greatest internet marketing phenomenon of all time. Millions of people
log on every minute and every second there are hundreds of items
listed, sold and bought, and of course money is made. It has become
the world's largest marketplace, where the potential for selling an
item is exponentially increased due to the sheer volume of people who
can view the item for sale.
The attraction Ebay
holds for the most people is the possibility of selling or buying
anonymously, and getting a great bargain. And for the first time
ordinary people are making extraordinary incomes selling literally
everything from beanie babies to diamond rings and cars. For those who
venture out of their comfort zones into the cybermarket place, the
following may com in handy as a guide to selling on Ebay:
A. RESEARCH WHAT IS LIKELY
TO SELL, DON'T JUST SELL ANYHTING
Contrary to what you might
think, not everything sells on Ebay. Your success on Ebay depends on
selling what people want and need, and what they will pay for. You can
find this out by browsing closed auctions of items you are interested
in selling, see how many bids there were for the item and how high the
bid price went. The more bids and the higher the closing price the
more successful the auction.
B. ASSESS THE COMPETITION
It's no use selling an
item that there are hundreds of thousands to choose from. Your chances
of success will be severly diminished. The rarer the item and the
fewer the number of people selling the same item the better your
chances of making a sale. Find out how many similar items there are
for sale by using the search feature on Ebay. Avoid items that are
oversupplied and that everybody else is selling.
C. FIND THE CHEAPEST
SOURCE OF THE ITEM
The best way to begin is by using a dropshipper. This is a wholesaler
who will ship single items on your behalf to your customers and does
not charge you a fee to do so. You don't have to keep inventory of the
items you sell, and you order the item to be shipped to the buyer
after you have sold it on Ebay, thereby reducing your risk to near
zero. Remember the principle "Buy low and sell high" That is
the key to maximizing your profits.
D. LEARN THE TRICKS OF THE
TRADE
It is prudent to learn as
much as you can about how Ebay works before you start, as there is
more to it than meets the eye. There is no surer way to fail than to
jump in without doing your homework well and believe me, it is work.
If anyone says otherwise they're simply not telling the truth.
E. START WITH A SMALL
MONTHLY BUDGET AND STICK TO IT
Don't spend more money
that you can afford to lose. As with all businesses it takes time to
tweak your skills to perfection. It is very easy to fall prey to
internet sharks who promise fantastic returns in a short period of
time. It simply does not work that way.
F. GIVE IT TIME
Forget about making a lot
of money in a short time. It is slow tedious work,a ndmake some
allowances for failure. Don't get discouraged. Find out what works and
what does not work and improve yourself as you go along.
c. Michael
Schandorf-Lartey 2004
http://www.amazingdealz.dropshipdesign.com
Posted
on: July 07 2005 by Michael Schandorf-Lartey
