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Anyone making money off eBay?

Discussion in 'General Chat' started by darkhorse70, Feb 21, 2015.

  1. darkhorse70

    darkhorse70

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    Any one here who makes money selling merchandise off ebay. My cousin thinks its very possible and he wants to get some income from selling stuff off ebay. Is it possible to make a couple hundred dollars a week with a small initial capital without putting a great deal of effort in (maybe 1-2 hours a day).

    DH7
     
  2. burglar

    burglar

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    A third party who will remain nameless, makes good money on eBay.
    He puts his reserve at his cost price.
    Then he asks for postage in $US. (he watches the exchange rate)
    He always adds a little to the actual postage.

    That way he always gets a little something.






    (He does, however, put in long hours!)
     
  3. darkhorse70

    darkhorse70

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    thats clever burglar. My cousin wants to do it with me as a sort of side venture but like everything in life you have to put time in it. Im not sure if i want to deviate from my actual goals in life and if its worth my efforts and risk.
     
  4. pixel

    pixel DIY Trader

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    In that case I'd suggest Don't!

    Anyway: What did your cousin want to flog? If it's something imported from eBay, chances are you'll wait a long time for a profit, with your capital tied up in goods.
    Anything technical or computer-related will only become cheaper over time; not to mention that most potential buyers will search for it, using the "Sort by price and postage, Lowest First".

    Going up-market? Buyers are becoming more fraud-savvy and suspicious. Just ask yourself "Would I buy a (Rolex, YSL bag, Chanel #5, [fill in your own...] ) on eBay without seeing it first?"
     
  5. Ijustnewit

    Ijustnewit

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    I have been selling goods on E-bay for many years now. I first started out importing and selling spectacle frames as it was my bread and butter in real life. Times changed and the big operators come to Aus and basically my market dried up. Then I took up an interest in something that was more fun and if I didn't sell it I could keep it as part of my personal collection till the value rose or interest from the market gathered steam again.
    Sometimes I make a couple of hundred bucks or more a week, some weeks nada. I deal in collectables mainly retro stuff and collectable sporting apparel. Look the keyword here is evolve , find out what's hot and what's not.
    E-bay is forever changing as are peoples desire for certain things. Trends come and go and you don't want to get caught a house full of useless crap no one wants. Personally I wouldn't touch cheap imported rubbish and copies of the real thing. It's unfortunate but E-bay is full of this rubbish , and I would not touch drop shipping either.
    I know my collectable stuff , especially retro goods and I can spot a good deal at an op shop / garage sale / market/auction ect from 200 meters away. I can buy something that is $2.00 and turn into $200 if you know what your looking at.
    Anyone ever seen American Pickers on 7mate ? I do a similar thing and then on sell it to another dealer or E-bayer.
    Look it's not all an upside , E-bay over the years has become greedy whacking sellers with ever increasing fees.
    E-bay started out for collectors and swappers , these days if you visit you will be confronted by the big guys stores. Everyone from the Good Guys to Dick smith have E-bay stores. Sad really and very hard for the mom and dad hobbyist trying to compete with that. But for E-bay it's all about the fees and revenue and they get millions from those guys and under a hundred from me on a good week.
    Another trap is E-bay says they protect the sellers , it's unfortunate again that E-bay let anyone join an bid on your items. Sometimes you get non-payers and there is little you or E-bay can do to get the dollars from a non payer.
    Non payers have increased incredibly over recent years and the that's a big downside. It takes your item out of circulation till a raise a non payer case and close it.
    Australia post has increased its postage rates over the years and it's killing some part of E-bay. Buyers don't like paying postage at the best of times and increasing postage costs have had a direct impact on heavy or bulky items.
    Another trap for beginners is that E-bay charges you around 10% of your postage charged to your buyer as a fee.
    For example , you charge your customer $10 dollars postage ( not including packing extras like bubble wrap and tape as I do this no extra charge at my expense) and they slug you 10% of that $10 bucks you handed over at the post office as a fee. Nice Hey :banghead:
    Sometimes I sell larger stuff on Gumtree , but the market is limited and you get a lot of nuisance calls ect.

    A. Know your product and make sure there is market for it.
    B. Be prepared to evolve with the trends and desires of the market.
    C. Beware of hidden fees and charges an non paying customers.
    D. Keep your postage costs to the buyer fair and reasonable . Trying to make money on postage on E-bay will quickly bring you undone.
    E. Don't expect to make a fortune , and be prepared to get stuck with some stock that just will not sell.
    F. Don't ever ever ever start an item at 0.99 cents no matter how much E-bay wants you to . You will most likely sell it for 0.99 cents or close to it !!
    G. Go and try it and have fun !!

    Cheers IJN :2twocents
     
  6. darkhorse70

    darkhorse70

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    Thanks for the feedback pixel and thanks IJN for that detailed feedback.

    IJN, I love American pickers. Seems like a cool job.

    My cousin downloaded an app which tells you whats hot on ebay currently. We were thinking of buying hats and beanies. Apparently that's whats selling now.

    I was thinking of maybe buying men' earrings' from India or where ever they can produce it cheap like 50c and try to sell them in bundles for a few dollars. Nothing to tailored or custom. They're cheap, fit all ear holes and dare i say they most likely don't go out of fashion. Also ive only got my ear pierced and i never walk into a female jewelry store. Feels to metro sexual. Ive always purchased that stuff off the net where its discreet haha.

    Pixel i personally don't want to tie my money up with expensive things as the risk is to great. I wanted some thing cheap with a high liquidity market for that good.
     
  7. darkhorse70

    darkhorse70

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    and IJN, if we do go into business, ill print out for points for reference. Cheers mate
     
  8. pixel

    pixel DIY Trader

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    IJN's reply is on the same line as my concern:
    If you deal in quality merchandize, a couple of hours will unlikely hack it. And you'll need to invest good money if you want to turn a regular profit.

    I too have been selling some collectibles that I no longer wanted; from time to time, I'll start a clean-out: on Gumtree for bulkier items, on eBay for specialties that are easy to mail. Sure, it works, but takes time.

    As to beanies and men's earrings, run a search and sort by price+postage. It's high volume alright, mostly from China with free postage. I can't imagine how the Chinese turn a profit if they sell ear studs for 6c incl. postage...

    But I wish you well and hope your cousin proves me wrong. :xyxthumbs
     
  9. Ijustnewit

    Ijustnewit

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    Hi DH7 ,
    Thanks for your feedback , pixel is correct in saying it takes time. Another tip I can give you is get the best photos you can of you chosen item. As they say " a picture paints a thousand words " and on E-bay it will make the difference between a one buyer auction or having ten people fighting over your items. However getting good clear exciting photos isn't always a reality and it yes it takes time and sometimes lots of it.
    I have a lot of repeat customers on certain stuff , they look out for my new listings and often buy at the top " buy it now price " . They know I have the reputation and what I'm selling is what they are getting. However like any business it has taken many years to get the following and reputation for quality and service.
    Being into retro and collectables on E-bay has also got me a casual job with a local company doing a similar thing. But again I've collected myself for years and read and studied many collectable information books and journals. So you never know , you might become the earring king of your area ? It sounds like you at least have some interest in the product you envisage you want to sell. That's a great start , it's all about belief and passion for what takes your interest. Best wishes for your new venture . :xyxthumbs I will be following with interest .
    Cheers
    IJN
     
  10. burglar

    burglar

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    I know of one got in early on the craze, went to garage sales, auctions and the like.

    Within months turned the house into a rubbish tip, inside and out!
    I can visualise the cous counting the money, while you do the bubble wrapping!
    lol

    Or not so lol
     
  11. Ijustnewit

    Ijustnewit

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    Yeah the bubble wrap can become a collection in it's self :D I have a bubble wrap room. Best thing is the dumpster diving for the free bubble wrap. Anything to save a buck . :xyxthumbs
     
  12. Ryan C

    Ryan C

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    Yes. I do and it's very possible. Although it's consistent, it's not anything I can live on. I can very easily scale by finding more products. I import and sell small items and only time I spend is printing out the labels and going to the post on my daily errands (~2 hours a week) Only outlayed a small sum and expecting to make 75% profit. Margins and volume differs between products. im always on the look out for more products to offer which will increase the time I spend on shipping and handling. Ebay competition is tough and getting tougher with many cheap Chinese sellers and big Aussie sellers selling the same items at cheaper prices and free shipping. Don't invest more than you can afford to lose and start small. You don't want to have a garage full of unwanted stock. Good luck.
     
  13. prawn_86

    prawn_86 Mod: Call me Dendrobranchiata

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    DH, i thought you were focused on learning trading. Sounds to me as though are still looking for a way to make money with little to no effort, which is virtually impossible. Find something you want to get good at and stick with it rather than spreading yourself thin. :2twocents

    With that being said, when i was in Aus i imported 2 very specific products and sold them on Ebay and Gumtree.

    One product was only $15 to buy and i made a net profit of about $3, but people would usually buy a few at once. The other sold for around $70 and gave me a net profit % of over 100%.

    I never took it seriously, it was just beer money, i used to clear about $50-100 pw for 2-3 hours work, which was time i was at home anyway so had nothing really better to do.

    When i moved to the US i looked at doing the same but those products are already here at a margin too low for me so i stopped. It's all about finding and exploiting a niche
     
  14. darkhorse70

    darkhorse70

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    Thanks for the feedback fellas.

    I wOnt reply to everyone individually, got to shoot off to the nursing home and feed alot of hungry mouths. But all points have been taken with appreciation.

    In all honesty, my cousin is a harder and more dedicated worker in all senses than me.
    He's always thrown potential ideas out for possible ventures and he was in the same class as me. So we shared the same friends and hes always tried to hold an event or meeting for us to brainstorm ideas as friends for possible business ideas.

    I haven't really ever been interested and to be honest trading has been more my passion than trying to create money by taking on random ventures. But I wanted to respect what he had to say and thought that I should at least give it some serious thought and shoot some questions up on the forum to see what y'all think.

    I've actually bitten off more than i can chew in the last few months. I've been taking up mandarin lessons, guitar lessons, rock climbing, kayaking, cycling etc etc. I try to put in 25hrs a week on my trading as well as working 25hrs a week at a part time job.

    I don't believe that anything good can come about with little effort and that is why I'm abit wary about trying to take on this challenge. However it would be a good learning experience and it could open a door to some where good some day.

    Again thanks again for the feedback guys.

    Personally it would be more fun to find cool treasures and sell them rather than flog cheap goods at large volume. But that requires experience and alot of costly mistakes haha.

    Anyway ill let you guys know how it goes if it goes ahead.

    Kind regards

    DH7
     
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