An Introduction To eBay Consignment

After I started selling on eBay, I was approached by friends without computers who wanted me to sell their items for them. They had heard stories about the outrageous prices items some ebay auctions brought. They knew I could get more money for them on eBay than they could get selling the items themselves. An added incentive to them was I did all the work. All they had to do is say "I don't want this anymore, sell it for me;" and within a few weeks I converted their castoffs into cash.

I was already selling on eBay, and I had developed a system for listing and dealing with sales that allowed me to list lots of items in a short time. The chance to make a few dollars without any investment was too much to pass up. I made some good money doing this and because I didn't have to tie up my money buying inventory I was able to use it to grow my train business.

Consignment Selling Is The Perfect Way To Start Your Own eBay Business.

There are no set up fees or investments. You won't need to risk your own money buying items to resell. You don't need a detailed knowledge of antiques and collectibles. You only need to know how to find the right category, write an adequate description and take some high quality photos.

Selling on consignment allows you to learn about antiques and collectibles without risking your own money. By selling other people's items you learn the value of items in the most practical way. By handling them and selling them. No matter how many price guides you read, and antique shows you attend, you will never get the feel for items until you sell them.

When you sell on consignment, you provide a service that makes your clients additional money. When most people sell something, they sell to a dealer who needs to mark up the item to make a profit. This is not what happens on eBay.

On eBay the END USER is the buyer and will always pay more than a dealer would. Even after paying a consignment fee, the seller makes more money.

This is the true benefit of eBay consignment selling. Finding the END USER. Before eBay this was a difficult and daunting process. With eBay, a simple listing placed in the correct category, with a good description and some high quality photos, is enough to get a few END USERS to fight over the item.

Things You Need To Succeed With Consignment Sales:

1. You need to take possession of the items. When you sell items on consignment you risk your eBay name and reputation. You take these risks when you sell your own items, but you are in complete control of your actions. In order to lower your risks you need to get complete control of the items you are going to be selling. This prevents sellers from changing their minds, and allows you to ship the items as soon as you receive payment.

2. You should always have a written contract. One of my friends was sued by a consignor who felt the commission was too high. The consignor agreed to pay 20 percent of the selling price, then when the item sold for $8500, got upset about paying $1700 to someone for doing 30 minutes of work. While my friend won in court, it would never have gotten to court if he had a written contract.

3. You'll also need to perfect ways to get items. At first your friends and co-workers will provide you with a good stream of salable items. After a while this stream will dwindle and you will need to go out and find consignors. This is not as difficult as it may seem. Remember, by consigning with you, the seller gets more money than they would otherwise.

Terry Gibbs is a collector/dealer of old toys and trains, and teaches others how to buy and sell antiques and collectibles. Gibbs is the author of two best selling eBay books "The Auction Revolution," and "The Complete Guide To eBay Consignment Sales." He has also written numerous other books about buying and selling antiques and collectibles. Learn more at his website: http://www.news.iwantcollectibles.com

http://www.iwantcollectibles.com/consign5.html

Copyright 2005 IWantCollectibles LLC used with permission.

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Tata, Vedanta mining lease ends in March; Govt for fresh auctions  Economic TimesNEW DELHI: In a setback for the mining industry, the government is set to reject a proposal to extend non-captive mining leases of companies that are expiring ...
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Auction of £500,000 in cryptocurrencies to take place  The Irish TimesSale being held on behalf of UK police force that tackles organised crime and terrorism.
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Newport criminal goods auction raises £150,000  BBC NewsA Ferrari, sold for £33000, is among dozens of items seized from criminals and sold at auction.
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City of Jonesboro to auction surplus equipment  KAITThe City of Jonesboro will auction off everything from police cars to garbage trucks on Saturday.
Abandoned former tuberculosis hospital sells for $55,100 at auction  Business InsiderThe new owner, an attorney from Texas, wants to transform the long-vacant asylum into a retreat for veterans.
Anthony Bourdain's possessions up for auction  RapplerOver 200 of Bourdain's personal items, including his prized chef's knife and manuscripts of his own work, will be auctioned off in October 2019.
Auction report: Gambling on 'terracotta'...at big Bord Na Móna sale?  AgrilandBord Na Móna played host to an auction of “surplus-to-requirement” tractors and machinery yesterday (Saturday, September 14).
Stamp and coin auction achieves $1m in sales  Stuff.co.nzHave a closer look at that coin or stamp that's been at the bottom of your drawer - it might fetch a top shelf price at auction. Mowbray Collectables' International ...
GB Nagar to e-auction unsold flats to recover dues from builders  Hindustan TimesThe Uttar Pradesh Real Estate Regulatory Authority (UP-Rera)Thursday asked the Gautam Budh Nagar and Ghaziabad administration to set-up a website and ...
Top events of the day: RCEP meet, auction of PM Modis gifts, and more  Business StandardAware of its massive trade deficit, India is preparing a final list of products on which it may retain import tariffs for China in the proposed Regional ...
Up for auction: Bonnie Parker's poetry book, Clyde Barrow's watch, Dallas police 'wanted' poster  The Dallas Morning NewsA book of poetry handwritten by Bonnie Parker and a watch belonging to Clyde Barrow are among items from the outlaw Texas couple being offered at auction.
Coonoor tea auction volumes falls  BusinessLineA volume of 10.24 lakh kg has been catalogued for Sale No: 37 of the auctions Coonoor Tea Trade Association to be held on Thursday and Friday.This is as ...
Texas Tech enters into agreement for chancellor house after auction  LubbockOnline.comThe Texas Tech University System Chancellor's residence and furnishings have tentatively been sold to a winning bidder following an auction Saturday.
20 special EXPO car number plates up for grabs at Dubai auction  Khaleej TimesRTA announced that it will be offering 100 exclusive car registration plates - but 20 are EXPO coded plates.

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