We all have a good idea about the stories that float online highlighting how some people went from riches to rags but why are we talking about this? Well, you need to read this article before using eBay now. While thrashing your stuff on the online selling platform eBay might feel like the easiest thing to do in the world, it is actually full of profit-eating fees. Yes, and how can we say that? Well, we have examples to show here.
This is why you need to read this before selling anything on eBay.
While it is true that you can earn a fortune when you are using the platform right,
You may even end up selling something for a price less than what is anticipated.
If you successfully become an eBay entrepreneur, you may end up like the women who earned £30,000 by selling her clothes on the website.
Laura Rose made £30,000 selling her old clothes on eBay.
If not, you might even end up like the guy who took a loss on selling his new Jane Austen £10 note for less than a tenner.
If you want to be a pro too, you need to learn these tips before getting ahead:
1. Always set a reserve price. ALWAYS!
We all go for a lower starting price because that is what attracts the customers/ buyers- but you certainly don’t want to be selling your goods for less than their worth. Right?
Hence, you need to set a reserve price and a low starting price so that you end up selling the product for a price worthwhile.
2. Watch out for the seller fees.
If you try to sell your item on eBay, the platform will charge you 10% of the money you made which includes post and packaging. You need to take this into account while setting your starting price.
3. Do not try and break any consumer laws. Stay honest with what you are selling.
Selling things on eBay can be a really big money earner, even if what you are trying to sell doesn’t seem worth selling.