Selling on eBay is the quickest business prospect out there. Within 15-30 minutes you can have a business up and running, but the ease of setup often leads sellers astray and they make serious mistakes that can zap their profits in an instant.
Scrolling through eBay I often see super elaborate listings for items that are well under $100. The amount of money that is spent on the extra features added to an auction can quickly zap profits. Do you want your auction featured? Sure you can have it but it will cost you. Do you want to include several pictures? Sure you can add 10 pictures but each will cost you. You want a reserve price? Okay, but it will cost you. Do you see a theme here?
Every seller should head into an auction with a game plan. For any item that is not going to fetch over $500 you should keep your auction as simple as possible. One photo and a quick run down of what you are selling will do just fine. When you are placing a big ticket item on the auction block then you can go all out, but for a low price auction keep it simple.
A lot of eBay users still don’t use their own photos. They take stock photos of the item in question and then feel the need to state “this is a stock photo” in their auction. People want to see a picture of the product they will be buying especially if it is a used or refurbished product. A cheap digital camera is all that is needed. The pictures need not be fancy; they just have to be there. People have a hard time trusting a seller if none of their auctions have real pictures attached to them. Honestly a seller who can’t show me a real picture of the product I’m bidding on jumps out as a “scammer” to me.
Most eBay sellers don’t stop to do their research before listing an auction. Before setting out on selling an item it is important to research the selling history of it. Not only can it help to figure out a “buy it now” price but it can also help a seller gauge how long the auction should be. A longer auction will get more hits which are better for an item that is not in demand or not greatly represented on the web site. A shorter auction is better for a hot item as it will give buyers a quick chance to grab what they want
Some, not all, but some eBay sellers are quick to please their clients when they first get on the site. While “pleasing” your customers is the right attitude bending over backwards for people is a bad idea. I’ve seen products listed way under value, I’ve known sellers who all but give away massive amounts of extras or upgrade shipping for every single person. While there is nothing wrong with being nice, nice doesn’t do it in business.
While eBay is an awesome avenue for a business it also has its problems and one of its biggest pros and cons is the ability to quickly open a storefront. It is great because it is easy but it’s bad because it allows people who are not ready for the big league to get off and running; often dooming a business before it starts.
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