Ebay is without a doubt the greatest internet marketing phenomenon of all time. Millions of people log in every minute and every second there are hundreds of items listed, sold and bought, and of course money is being made. It has become the largest marketplace in the world, where an item’s potential for sale increases exponentially due to the sheer volume of people who can see the item for sale.

The allure of eBay for most people is the ability to sell or buy anonymously and get a great bargain. And for the first time, ordinary people are making a windfall selling literally everything from baby hats to diamond rings to cars. For those who are venturing out of their comfort zone into the online marketplace, the following may be helpful as a guide to selling on Ebay:

A. RESEARCH WHAT YOU CAN SELL, DON’T SELL ANYTHING

Contrary to what you may think, not everything is sold on Ebay. Your success on eBay depends on selling what people want and need, and what they will pay. You can find out by browsing closed auctions for items you’re interested in selling, seeing how many bids there were for the item and how high the bid price was. The more bids and the higher the closing price, the more successful the auction will be.

B. ASSESS THE COMPETITION

There is no use selling an item that there are hundreds of thousands to choose from. Your chances of success will be severely diminished. The rarer the item and the fewer people selling the same item, the better your chances of making a sale. Find out how many similar items are for sale using the search function on Ebay. Avoid items that are in excess and that everyone else is selling.

C. FIND THE CHEAPEST SOURCE OF THE ITEM

The best way to get started is by using a dropshipper. This is a wholesaler who will ship individual items on his behalf to his customers and will not charge you a fee to do so. He doesn’t have to keep an inventory of the items he sells, and he orders the item shipped to the buyer after he’s sold it on Ebay, reducing his risk to almost zero. Remember the principle “Buy low and sell high” That is the key to maximizing your profits.

D. LEARN THE TRICKS OF THE TRADE

It’s wise to learn as much as you can about how eBay works before you start, as there’s more to eBay than meets the eye. There’s no surefire way to fail than to jump in without doing your homework well, and believe me, it’s work. If someone says otherwise, they are simply not telling the truth.

E. START WITH A SMALL MONTHLY BUDGET AND STICK TO IT

Don’t spend more money than you can afford to lose. As with all businesses, it takes time to fine-tune your skills to perfection. It is very easy to fall prey to internet sharks that promise fantastic returns in a short period of time. It just doesn’t work that way.

F. GIVE IT TIME

Forget about making a lot of money in a short time. It is slow and tedious work, and failure must be reckoned with. Don’t be discouraged. Find out what works and what doesn’t and improve yourself as you go.

vs. Michael Schandorf-Lartey 2004
[http://www.amazingdealz.dropshipdesign.com]