Sell things.- Something you already own: i.e. junk in your house
- Buying stuff off of eBay then reselling
- Contacting a wholesaler
Making money off eBay is one of the simplest and easiest things to do. The concept is a little like trading stocks: buy low, sell high. Here's some advise for the first time eBay money maker.
- Find an area to specialize in, find the source
- Get the right tools
- Patience
As I said, making money off of eBay can be pretty simple. It all comes down to finding the right item, buying it at the lowest price possibly then reselling it at a higher price. There are several good ways I can think of for acquiring products to sell:
- Something you already own: i.e. junk in your house
For any eBayer, the first and probably the easiest way to make some cash is to sell stuff that you already own. This is a good start up idea because you can start to build your own reputation as an eBay seller and get some feedback before you start selling in bulk. Plus, this takes down the need of a middle man, a supplier which can get a little bit sticky in some situations.
- Buying stuff off of eBay then reselling
If you go onto eBay and take a look at what's for sale, you'd probably note that there are a lot of items that are incredibly more than you can buy locally. Use that to your advantage. Especially, make sure to look at the "wholesale lots" section for buying even cheaper things in bulk. This way, you can resell it individually for more profit.
To guarantee you get the absolute lowest price on any item, here's a tip:
NEVER EVER BID BY HAND, ALWAYS USE A SNIPER. Have you ever wondered why you always get outbidded at the last second? Chances are, the person bidding that won used what's called a sniper.
A sniper is a nifty little tool you can program to automatically place the winning bid for you at the last second. This way, you can the lowest price AND you don't have to waste time sitting around at your computer. Here's the sniper I use
MyIbay. Sign up for an account and just follow the instructions, it's easy.
After inquiring your item at a low price, you can then do two things: replace the item again on eBay only if you're sure you'll make money off of it. You won't gain as much as this second option I'm about to tell you but it's a sure way to make a quick buck. The second option, which is a bit slower but will definitely give you more money, is to place the item on sale locally. Either sell this item to people you know or sell it to craigslist.org, locally, you won't have to worry about shipping price (cha-ching!) and you can also mark up the item from anywhere between 50%-100%!
After you've built a good strong foundation on eBay, another way you can make massive dough is by utilizing wholesalers in different countries (I'm thinking China). The idea is that you buy bulk straight from the manufacturer and then resell either to eBay or to the local market. This method opens up a new can of worms itself, but if you're interested there are plenty of good wholesaler listing sites such as
DHGate and
GlobalSources. I personally prefer Global Sources, but it's really up to you to check them out and figure out which one is best for you.
eBay wholesaling is a bit topic on itself, so if anyone would like me to go further in depth in any of these topics, please let me know!
