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Important Info |
How To Buy Cheap on eBay |
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How To Buy Cheap on eBay
eBay has been used to sell everything from a grain of breakfast cereal to a private executive jet. A spokesperson from eBay said: "We are always amazed at the ingenuity and originality of the traders on eBay. "With more than 125 million users globally, and around three million items for sale at any one time, there will always be something for everyone, and eBay is unique in that you can find the utilitarian alongside the unusual, and the brand new alongside the rare or antique."
Because many eBay selling prices are often well
under wholesale or distributor costs, this is an excellent source of finding the
best deals around. My rule for eBay success is to always seek out a 10:1 or
higher return ratio between the product cost and its average eBay selling price.
Such returns quickly erode to barely living wages after you allow for any
unsellables, all operating expenses, repair costs, travel, storage, and all of
the usual nickel and dime costs.
Almost always, it pays to lead off with your personal value added. This should
contribute the lion's share to the buyer's perceived value.
For me, the sources that have worked out the best are both traditional or newly
privatized military surplus sales, remote community college auctions, and
dot.com or other tech bankruptcies. Your best ploy is to consistently seek
economically inefficient markets. If more than five percent of your offers are
accepted, you are paying too much. Naturally, you make up for a 5% success rate
by bidding on twenty times as much stuff as you could possibly use. I try to keep most of my offers at one sixth of a penny per dollar of original costs. I'll sometimes go up as high as a quarter cent if it is something I really want. If someone bids against me, I walk away. One tip: Some sealed bid sales require even full dollar bid increments. Be sure to bid as early as possible on these offerings. Note that this is the exact opposite of effective eBay bidding strategy. Two things to avoid at all costs are drop shipping and consignment sales. If your drop ship source fails to deliver, you'll take all the flak and all the losses. And selling for a friend is a near certain way to lose that friend. If you must do consignment sales, quote a minimum 50% commission over and above a $90 per item placement guarantee. But both these bad scenes are best avoided.
Important Steps: 1. Signup for an eBay account, it's free here. 2. Signup for a Paypal account, it's free here. 3. Invest in an effective eBay selling course online here.
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