Doing It eBay: An eBay Business Means Fun and Profits in a Global Marketplace

In 1995, when Pierre Omidyar introduced an online business venue that was essentially a virtual garage sale with auction pricing, no one knew a retailing revolution was about to occur. That site became known as eBay, and it's hard to find someone today who hasn't at least heard about the popular online auction company.

What's important to understand from the start is that eBay is a sales channel that you can use exclusively or in addition to selling through a retail operation, mail order catalog, independent Web site, or network of direct salespeople. You decide the type of business you want to have, what type of merchandise you're going to sell, and how you're going to operate.

To sell on eBay, you'll pay a listing fee to post your merchandise and a final value fee (a small percentage of the sale price) when the item sells. For the current eBay fee schedule, check the eBay site.

What can you sell on eBay?

Though eBay is a popular place for the sale of used items ranging from high-dollar antiques to second-hand junk, it's also a venue for brand-new, up-to-the-minute merchandise of all types and in all price ranges. Deciding what to sell on eBay can be particularly challenging because your options are virtually limitless. Some of the more popular categories of items are cars, computers, consumer electronics, books, movies, music, sports items, collectibles, clothing and accessories.

As you take the first step of deciding what to sell on eBay, keep these points in mind:

· Have an interest in the product. Don't choose a product based on potential profits alone; be sure it's something you'll enjoy working with.

· Cost and sale price. How much will the item cost you and how much can you reasonably expect to sell it for?

· Availability. Is the merchandise readily available or will you risk having to deal with supply problems?

· Storage. Do you have room to store the merchandise?

· Packing and shipping. Consider what is involved in packing and shipping the merchandise. Even though the buyer typically pays the shipping costs, think about your labor, time, and potential breakage.

· Seasonal issues. Will the item sell year-round or be subject to seasonal fluctuations?

How do you sell on eBay?

You have a variety of ways to sell on eBay. In addition to the traditional basic auction, where you post your item with a starting price and wait for bidders to drive the price up, you can use a number of other pricing features and auction types. In addition to auctions, you can also set up your own eBay store, which will allow you to sell auction and fixed-price merchandise from your special location on eBay. You'll pay a monthly fee based on the level of store services you want, plus additional fees for items listed and sold.

The technical side of eBay

eBay has evolved into one of the most user-friendly sites on the Internet. Getting set up as a user is a simple process that you can complete in just a few minutes. You will be required to provide your name, address, e-mail, and telephone number, as well as a credit card number and your checking account information. eBay uses this information to confirm your identity, which protects the integrity of their operation, and to collect auction fees. If your contact information changes, be sure to notify eBay immediately.

You must register to buy or sell on eBay, but you can browse around the site without registering. Before you do any business on eBay, take the time to get to know the site. Set aside several hours to get online and browse around, study listings, read the help pages, understand the various tools and how you can use them, check out the forums, and get comfortable with how the site works.

Once your business is up and running, you'll probably want to consider using supplemental auction management software, which will save time and money, make you more efficient, and improve the level of customer service you offer.

Getting started as an eBay seller

Start off by buying a few things, then start selling, posting just one or two auctions at a time until you're comfortable with how the process works. You'll make mistakes, especially in the beginning, but if you learn from them they'll be worth the cost.

Keep in mind that eBay is ever-changing. As the economy cycles, you'll experience changes in pricing and demand. And as more people start operating on eBay, the competition will increase and prices may decline slightly (great when you're buying, but not when you're selling).

If you plan to make selling on eBay a full-time business, expect to work hard. Though there is plenty of money to be made on eBay, it's not a get-rich-quick or easy deal. You'll invest as much time and energy as you would in a traditional retail operation--but your potential for profits is greater.

Don't be intimated by the sheer size of the operation, and keep in mind that eBay has reached less than ten percent of its potential market-which means there is plenty of room for you. So find your eBay niche, get online, and watch your business grow.

Jacquelyn Lynn is the co-author of Make Big Profits on eBay: Start Your Own Million $ Business (with Charlene Davis, Entrepreneur Press, 2005) and the author of Start Your Own Business on eBay, plus nine other titles in Entrepreneur's Start-Up Guide Series. For more information, visit http://www.jacquelynlynn.com

In The News:

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From the sublime to the ridiculous: 13 unusual objects to be sold at auction in 2018  CNNWhether you're buying, selling or merely watching the drama unfold, a blockbuster auction is a thrilling thing. Here are some of the most unusual items to cross ...
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Carl Williams home sold prior to auction  NEWS.com.auThe family home of murdered drug kingpin Carl Williams was sold on Saturday after his former wife failed in her bid to block the sale.
Police to Auction Off an Inmate’s Designer Sneakers  The New York TimesThe police in Gloucestershire, England, will use the proceeds from the sale of 55 pairs of shoes to fund crime prevention initiatives.
Mexico’s López Obrador suspends oil auctions for 3 years  Financial TimesMexico's new president Andrés Manuel López Obrador closed the door to oil auctions for three years and said companies that had been awarded contracts ...
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Indian Premier League 2019 Auctions: Yuvraj Singh to Jaydev Unadkat, 5 Players MS Dhoni-Led Chennai Super Kin  India.com NewsIndian Premier League (IPL) 2019 Player Auction: With IPL 2019 Auctions around the corner, all eyes will be on the defending champions, Chennai Super Kings ...
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IPL 2019 Auction: Who is Hugh Edmeades? The new IPL auctioneer to replace Richard Madley first time in 11 years  The Financial ExpressIPL 2019 Auction: IPL 2019 player auction will be held on December 18 in Jaipur but Wales-based renowned auctioneer Richard Madley will be missing this ...
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Winton Woods Riding Center horse auction raises eyebrows  Cincinnati.comA sealed bid auction by Winton Woods Riding Center is attracting both interest and criticism.
Shape of EU carbon market unclear after UK axes auctions  Financial TimesAny 2019 allowances sold by Britain would be worthless in the event of a hard Brexit.
Henzel Studio Auctions Carpets by Established Artists  Architectural DigestHenzel Studio is bringing its colorful creations to a new venue. Known for punchy handwoven styles (of which Robert Downey Jr. is a fan) and collaborations ...
Sebi to auction Sai Prasad Group's 162 properties next month  Economic TimesNEW DELHI: Markets regulator Sebi will auction as many as 162 properties of Sai Prasad Group of firms and three of its directors next month in order to recover ...
U.S. house-auction firm enters the Vancouver market  The Globe and MailAurelia Isidoro, who lives in New Jersey, was happy when her real estate auction firm decided to move into the Vancouver market. She'd visited the B.C. Lower ...
IPL 2019 auctions to be held in Jaipur on December 18: Report  Times NowIndian Premier League will enter into its 12th season next year and the auctions for the same will be held on December 18 in Jaipur. If latest reports are to be ...
Online auctions key to wholesalers' future  Automotive NewsOnline auctions and the digital tools that accompany them are key to vehicle wholesalers' futures.
6 times Rajasthan Royals overspent during the IPL auctions  SportskeedaWith 11 seasons of the IPL gone, we take a look at 6 of Royal's worst signings.
Advance slots planned to view early morning Toyosu auction:The Asahi Shimbun  Asahi ShimbunAdvance online reservations will be accepted from Dec. 17 for those who want a better view of the tuna auction at Tokyo's new Toyosu fish market in Koto Ward.
EBTH auctions off historic Reds memorabilia  WKRC TV CincinnatiCINCINNATI (Cincinnati Business Courier) - Cincinnati online estate sale auction house Everything but the House is giving the public a chance to own pieces of ...
Zero Bids on Uptown Theatre in Final Days of Auction  businessjournaldaily.comYOUNGSTOWN, Ohio -- With just two days left on the auction of the former Uptown Theatre, auctioneers are still waiting for the first bid.
Bid to play catch with Lorenzen among auctions  MLB.comLAS VEGAS -- A charitable tradition during the Winter Meetings will continue this week, with the Reds offering once-in-a-lifetime types of experiences that fans ...
Although buyers are being cautious, auction numbers and sales rates are steady and most of those that sell are fetching more than their rating valuations  Interest.co.nzBoth auction activity levels and the prices being achieved appeared to be stable in November, according to the results of residential property auctions monitored ...
EBTH auctions off historic Reds memorabilia: PHOTOS  Cincinnati Business CourierCincinnati online estate sale auction house Everything but the House is giving the public a chance to own pieces of Reds history.
Sharon Tate's wedding dress sells at auction for $56,000  CNNAn anonymous buyer has bagged a ghoulish piece of movie memorabilia after winning an auction for actor Sharon Tate's wedding dress. Tate was murdered by ...
IPL 2019 auctions: 3 International stars who may start a bidding war  Hindustan TimesThe teams will have to take into the fact that a major part of the 2019 season could well be played outside India and there will be several players who might miss ...
IPL 2019 auction: 3 relatively unknown Indian players who may attract huge bids  Hindustan TimesAlso, as has been observed in the previous seasons, the team which have done well have a great crop of young Indian players who complement the big names ...
IPL Auction: 5 Unsold Stars From 2018 Who Could Attract Big Bids  The Quint2019 IPL Auction: 5 players who went unsold in the 2018 IPL auction but could attract a bidding war this time around. The IPL auction is in Jaipur on 18 ...
Australian teen auctions virginity to help pay for college, her parents' mortgage  CBS17.comSYDNEY (KRON) - A teen in Sydney, Australia who started a website to auction her virginity says she hopes to raise at least $100,000 to pay for college, a car, ...
Coins, silver and baseball cards up for ADOR auction on Friday  KTAR.comThe Arizona Department of Revenue will hold a public auction Friday of unclaimed property from safe deposit boxes.
Looks Like the Kids Aren’t Going to College After All: Luke Skywalker’s Lightsaber Is Up for Auction  VultureHollywood auction house in Profiles In History is putting Luke Skywalker's lightsaber from Star Wars: Episode IV – A New Hope up for auction.
Chicago church saved from auction by last-minute anonymous donation | TheHill  The HillChurch officials in Chicago are praising the “Christmas miracle” — a last minute donation that saved the city's 120-year-old church from the auction block.
Springfield group wins auction for historic Sonrise Donuts sign  The State Journal-RegisterThe Sonrise Donuts sign — one of Springfield's remaining iconic Route 66 landmarks — sold for $22000 Wednesday following a heated online bidding war.
How record-setting art auctions are ruining the old neighborhood  Washington PostArt critics generally hate it when an auction house sets a record. Thursday, at Christie's in New York, a painting by David Hockney fetched more than $90 million ...
NHAI to further extend deadline for TOT road auction bids  LivemintNHAI is likely to set 3 January as the new deadline to privatize operations of its second bundle of roads under the toll-operate-transfer (TOT) model.
DD Freedish to open 55 slots for e-auction by December-end  Best Media InfoThe Ministry of Information and Broadcasting (MIB) had shown the green light to DD Freedish's e-auction in October 2018. The date of auction and the opening ...
Hybrid tender will see reverse auction among two bidders  Economic TimesNEW DELHI: The government will go ahead with the reverse auction for its first solar and wind hybrid tender which will see the two bidders, Adani Green Energy ...

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