Your success in eBay will depend on your ability to find the right product to sell. Product turnover and profit is the key to sourcing the right product. Compare selling 5 expensive items with a profit of $100 each with selling 100 items with a profit of $5 each. Which is easier and less costly to run? It depends on how you manage costs and the efficiency of your business. Selling 100 items can be time consuming if you have to individually pack each item for shipping. Here are some tips to help you find the products to sell.
Start with items in your home
Often, our homes are cluttered with items that we do not use anymore such as clothes that do not fit anymore, old books and CDs. It may be lying around in your garage or wardrobe for a long time. Instead of throwing them away when you do spring cleaning, collect them and start selling them on eBay. Since they are of no use to you, why not try to get some money for it. Give it a dust and put it up for auction. As the saying goes, one man's junk is another man's treasure.
Find items in local garage sales
When there is a garage sale in your neighbourhood, try looking around to find items which can be sold. There might be some items which are cheap and still in good condition. These items are often cheap as the owner just wants to get rid of it. Buy it from your neighbour and sell it on eBay. With a low cost, you can set the auction starting price lower to attract more bidders.
Visit your local Goodwill store
Goodwill stores can be an excellent place to source for products. These stores often have new donated clothes or items which are selling at a large discount. If you are lucky, you might even find branded clothing which you could buy and resell in eBay. This is also the place where you can find old vinyl records to sell.
Go to flea markets
Flea markets can be a good source to find items to sell. You may find decorative vases, sculptures, paintings and much more. Many of the items in flea markets are handmade or specific to a certain culture. These items might be unique and thus have less competition for bids on eBay.
Buy from eBay
The key to this is to buy items which are underpriced and selling at a discount to the normal selling price. Research has to be done to determine whether similar items were sold at a higher price previously. For example, you could find an iPhone selling for $600 when your research tells you that similar iPhones have all sold within the range of $900-$1100. This can be done by searching for past bids in the eBay advanced search function.
The internet can be a great source of products to sell. There are an increasing number of online wholesalers who would sell to you at wholesale price. However, you first have to prove that you are able to sell their products and you must have the ability to order in large quantities. This method is for people who have already established their eBay business and want to take it to the next level. Although more risky as there is an upfront capital outlay, the rewards by doing this can be high. Also, make sure that you are buying from a reputable online wholesaler.
Proper research has to be done about the popularity of the item on eBay, bid history and the starting bid selling your items. Some other issues to consider are import customs if you are buying wholesale from overseas. Following these tips will help you get started on selling on eBay. With the extra money earned from the sales, you could use them to help pay your debt.