PROPER RESEARCH IS NECESSARY FOR SUCCESS
Do not skimp on research. Time spent in research will save headaches and lost sales in the future. Knowing the average selling price of the items you would like to sell is key. Do this by selecting Advanced Search button from the main search page, it is located just to the right of the Search Button. After opening the Advanced Search link, type in your keyword(s) of the product you want information regarding.
Select a category, check the Completed Listings button, then Search. Now what you have on your screen are items that have recently closed on eBay. The products which have Sold will be highlighted Green. The products that did not sell, you will see highlighted in Red or Black. The Red items are unsold Auctions, the Black items are Unsold Buy it Now items. Take this data and place in an excel worksheet that you might review in future.
SHIPPING IS ANOTHER CRITICAL STEP
Shipping is definitely a very sensitive subject with regards to eBay purchases. In years past, many sellers would give a good price on the product, then gouge on the shipping fees. Free Shipping many times will get your product noticed and respected. And the buyer will come back for more products later on.
As you perform your research, notice that many of the products that Sold, have either Free Shipping or Low cost shipping. Overall, Free shipping or reasonably priced shipping products will do better in the long run. Make sure to keep the majority of your shipping cost priced in your product, while maintaining your profit margin, and keep your price competitive.
CONSIDER SUPPLY AND DEMAND
No matter how good a deal you may be receiving on a product, if the eBay community is not interested in it (Demand) sale of the product is not likely. If you have a chance to purchase 100 Widgets for $5.00 each, and the last 50 posts if these widgets only produced 5 sales for $4.75, you will probably be losing money on these Widgets. Or friends and family will be getting Widgets next Christmas.
It is recommend to get off to a good start, find a Dropshipper, a legitimate Dropshipper. With a dropshipper, you do not have to stock any products. Just sell the product, and the dropshipper will send to customer for you. You just collect the profits. Yes, I said legitimate, many so-called “Wholesalers” are retailers in disguise. They give minimal discounts off of retail price, but you are not getting true wholesale pricing. Do a Google search for Wholesale Sources, or Dropship Wholesale, perform your due diligence and deal with a wholesaler, not a middleman.
Related posts:
- Learning to Sell on eBay
- How To Sell On eBay – Making Feedback Work To Your Advantage
- Ebay Auction Profits
- What Kind Of eBay Selling Tips You Need
- Have Your Own Online Ebay Business Store
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