by Gotham City Lost And Found

3 Steps To Sell Professionally On eBay

eBay is awesome! It gives ordinary men and women, people like you and me the ability to sell their products to a worldwide marketplace 24/7 at a cost of a few cents.

The marketing potential of eBay is huge and so is it’s scope. The first time I surfed eBay I was amazed at the sheer number of different categories. But where do you start?

The key word for step 1 is, therefore, FOCUS.

A scatter gun approach just doesn’t work with eBay. You could spend the rest of your life wandering around its thousands of categories trying to sell a few items here and a few there then moving on when you discover that the competition has driven the price so low you can’t make enough to cover your eBay and PayPal fees, let alone make a profit.

You must zero in on a particular niche: make a list of 10 subjects/themes you enjoy, things you have a passion for then research these subjects on eBay. Is there a market to sell to?

The eBay market place is very transparent, using a ‘completed listings’ advanced search you can see exactly who sells what, how much it sells for and in what quantities, you can even read what the buyers thought about their purchases. Use this information to draw up a short-list of niches where there is a healthy market in something you enjoy or have some expertise in (preferably both).

Don’t be afraid of competition from other sellers – this confirms you are on the right track. See what each seller in your chosen niche does well and copy them –there is nothing wrong in doing this. Don’t spend your time trying to create a market for a product that isn’t already there, this will only lead to frustration and disappointment – a road I have traveled many times!

To sum up …….. FOCUS, identify a niche you enjoy and have some expertise in and follow what other successful sellers do adding in your own ideas to zero in on that HOT eBay product.

Step 2: The right eBay product, What to look for;

Market

There must be an established market for the product. The best way to confirm this is to look for successful sellers who already sell the product. You are looking for a healthy market with multiple buyers and sellers. You should be wary of any market that seems overcrowded with sellers – hundreds of sellers competing against each other will drive the price of the product down making it very difficult for a new entrant to make a profit.

Mark up

Your product must be in sufficient demand to allow a healthy mark up (the difference between your purchase price and your sale price). This mark up must be sufficient to cover all of your costs and provide a satisfactory profit. If possible focus on higher value items, these are more likely to yield a satisfactory profit and you will have a lot less work to do.(It is easier to sell 10 items that yield profit than it is to sell 100 items that only yield profit).

Repeatability

You must be able to replenish your stock of the product to enable a solid, sustainable business to be built. Some eBay guides suggest searching flea markets and boot sales to pick up bargains for resale, you may unearth the odd nugget this way but it is not the basis of a long term business.

To sum up step 2 ……think ‘Market’, ‘Mark up’ and ‘Repeatability’.

Step 3: eBay listing techniques;

You can have a great, in demand product but if it isn’t listed right it won’t sell to its full potential.

your description MUST incorporate ‘AIDA’:

Attention, Interest, Desire, Action

Firstly we need an ATTENTION grabbing headline: ‘Once in a lifetime opportunity to obtain this rare and sought after ******!’ This is a little over the top but you get the idea!

Next we must generate INTEREST by describing the features that make our item so desirable.

The DESIRE for the item is based on benefits and not features. In other words we must convince our buyer that his collection will be enhanced or his family and friends will be impressed by his new acquisition. This is the ‘What’s in it for me?’

Finally we have our ‘call to ACTION!’. Why must our buyer act ‘NOW!’, this minute? Is it the scarcity of our item, with the other eager buyers waiting to snap it up for themselves?

……and it must achieve all of this in 15–20 seconds. If a potential buyer is not given all of the above, quickly, he will click back to his search list and continue his search. If we have done our job properly he will click on ‘watch this item’ before he leaves our page.

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