Want to know 7 ways to double or triple your sales on eBay & cash in faster and better than your competition? Well on today’s post I’m breaking the Powerseller code of silence & revealing 7 of the best kept secrets to making money online on ebay.
1. Use 1 or 3 day auctions. The closer you get to the clock the better search results eBay will award you with. If you have a seven day auction like typical eBay sellers (or heavens forbid a 10 day auction) your listing will appear in the waaaay back. If you have only 1 day to go before its gone the “frenzy” for your item will light the fire under buyer’s seats and push your auction to the top of the results page. I’ve used this exact technique before with an antique ring I found in a San Fran pawn shop, within a day it had sold for $800 an obscene profit considering the steal I got it for. A lot of it is creating “urgency”, buyers love to feel the excitement of the bidding and even if you are using fixed price this is a good idea.
2. Only suckers use bold, highlight or border. Yep, I said it, real Powersellers & those who truly make money on eBay never use the pricey options that will add un-needed flare to your auction. Studies that eBay & Powersellers have done show that the click thru rate of such extras never can justify the price. Trust me, don’t do it.
3. Use stock photos for electronics, but take well done personal photos of clothing, accessories & other more unique items. For some reason people bid higher or are more likely to buy electronics with stock photos as their gallery image, while with more unique items like shoes or jewelry buyer’s want to see photographs of the actual goods before feeling confident enough to buy. Who knows why this is but the numbers support it and if you do a quick search through ‘completed listings’ in eBay you’ll see the pattern stands.
4. You can buy & sell on eBay and still turn a profit. Most people don’t realize there is a growing sub-culture of eBay sellers who not only sell on the site but buy all their inventory on it as well! These sellers usually use two or more accounts, one to buy & one to sell at the very least. Because no one wants their feedback to show that they bought something for cheap & then turn around and sold it for more on the same account. But more and more people who sell as a job on eBay and finding misspelled auctions, poorly done auctions & newbie eBay sellers who just don’t know what they are doing or miscategorize something and making a killing from this “auction flipping” idea. To find out more, and a sure fire method to succeed at auction flipping check out my eBook & the bonus Secret System of Success access pass that comes along with it.
5. Use currency exchange rates to your advantage. Is it really cheap to get jewelry in Thailand & Bali? Yes, it is. And its high quality too, but unless you have the bucks for a $1500 airplane ride & a mode of transportation to ship it all back here then it’ll be hard to cash in on how much most US/Euro bucks can buy there. But wait a minute, that’s what the web is for! Now most sites that are selling items from 3rd world countries are going to mark them up considerably for a profit. But sometimes, when web browsing you’ll find a smaller operation whose mark up is much lower & were you can get items for pennies on the dollar compared to what you’ll sell them for in your country. One site I really like is Zeevler.com, you can buy very, very high quality silver & gemstone jewelry from Bali or Thailand and resell it for 3 even 4x as much on eBay or your own personal store.
6. Either price way lower or way higher. If you are doing a traditional “auction” style listing and know that your item is worthwhile (this can be found out by searching the ‘completed’ listings of similar items on eBay) then start it low. Start it off at .99 cents optimally but if that makes your stomach jump than price it for 9.99 at the highest… and let the bidding dictate the price… usually it’ll go higher than you assumed. On the other hand, if you are selling fixed price items, price them high and then make sure the auction listing is amazing & tempting to potential buyers. People when buying a fixed price item tend to “buy higher” because they think that the high price implies a higher quality & better customer experience.
7. Get an Iphone. Or any PDA with email will work, so you can be connected to your eBay selling even when your on the go. Nothing sucks more than to miss a $500 best offer on an item because you couldn’t get to your computer in time. After that disaster I bought myself an Iphone and couldn’t be happier about the purchase, I can answer emails on the go, check on the status of bids & respond quickly if there is a problem with any buyer’s experience. This will take away stress, make your customer’s much happier & increase your productivity by 10 fold!
If you have any more “Secrets” please list them in the comments so others can enjoy! Thanks alot for reading…
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