Getting Started on eBay

You’ve probably heard about how much money can
be made on eBay. With dreams of quick riches and
easy money, you are probably ready to jump in with
both feet – right now! The best thing you can do if
you are serious about making money with eBay,
however, is to slow down. In fact, just stop for a
minute. Don’t rush straight in. Take your time, and
do it right.

eBay has over 100 million members. Think about
that number for just a minute or two. When you get
your eBay business set up, that is how big your
customer base will be – instantly. 100 million people
- 100 million people who are just waiting for you to
get set up and running so that they can throw money
at you! Well, not quite. It is true that there are over
100 million members, but at this point, they don’t
know that you exist. In fact, no matter how well you
do on eBay, most of them will never know that you
exist. 100 million is a very large number.

The most successful eBay sellers started out as
buyers – and you should too. This will give you a
sense of how everything works. It will also show you
how things are from the buyer’s side of the fence.
Let’s call this period of time ‘consumer research.’
You are literally studying how eBay works, from a
customer’s point of view. You may not realize this,
but this eBay buyer experience will
actually make you a much better seller – right from
the very start.

Really pay attention to the customer service you
receive from the buyer. Think about how you want to
be treated as a buyer, and take notes. Take your
time during this process. Interact with the sellers.
Get involved in hot auctions to see what they are
like. In your spare time, start making notes about
the hot items that you see. These notes will come
in handy later.

eBay works just like any other business. You have
to determine what people want to buy before you can
hope to be successful. There are very specific items
that sell really well on eBay – you just have to figure
out what those items are. There are many
resources for finding out this information. Start with
the lessons that eBay offers to their sellers.
Strongly consider attending the eBay University as
well. This is the next step in the process. After you
have had the eBay buyer experience, it is time to
learn how to be an eBay seller.

Read all of the information eBay provides for you at
the site. The information is free and you will learn a
great deal from it. Take full advantage of this – before
you start setting up your first auction or your eBay
store! By reading through all of the resources, you
will avoid making numerous mistakes that so many
before you have made. This is another step towards
building a successful eBay business. Once you’ve
made it through the learning process, you should
know everything you need to know to get started
with a money making eBay business of your very
own.

eBay University – What Is It All About?

eBay University is the learning program that eBay
established to help people become successful eBay
merchants. For convenience, eBay classes are held
in many locations throughout the United States, and
classes may also be completed from home, using
your computer.

You should note that all of the information you will
learn through eBay University can be found on the
website – for free. However, understanding that free
information isn’t always easy. eBay University will
teach you how to open a seller’s account, how to
conduct research and create listings, how to improve
listings for greater success, how to integrate Paypal
with eBay, how to monitor your auctions, and how to
complete transactions.

Once you’ve finished the Selling Basics course, you
are ready for the ‘Beyond the Basics’ course. This
advanced course will teach you how to start and
grow an eBay business, how to choose and create
listing formats that sell, how to use all of the eBay
resources, how to market your business, how to
pack and ship your items, and much more. Both
courses are reasonably priced, and well worth the
short amount of time that it takes to complete
each course.

eBay Success - How to Price Your Items

Many new sellers don’t realize how important pricing
is when it comes to eBay auctions. Many don’t even
realize that ‘pricing’ needs to be done. eBay is an
auction site after all! But eBay auctions are not quite
the same as the auctions you attend in the offline
world. In fact, quite a bit of work goes into
determining and setting prices.

Essentially, there are only three prices that can be
set for an eBay auction: the ‘buy it now’ price, the
reserve price, and the starting bid price. Of these
three, the starting bid price is the only one that is
required for an eBay auction. The reserve price and
the ‘buy it now’ price are optional. The starting bid
price is fairly simple – never set it higher than $50 or
so – no matter what your item is really worth. This
low opening price will get bidders to your auction.

Setting low starting bid prices creates the need for a
reserve price. A reserve price is the absolute lowest
price that you want to get for your item. You may sell
the item below the reserve price, but you will not be
required to. In other words, if you set your reserve
price at $100, and your highest bid is only $50, you
do not have to sell the item to the highest bidder.
You can close the auction without any negative
feedback or repercussions. Set your reserve price
at the absolute lowest price you are willing to sell
your item for. Keep what the item is worth, as well
as what it cost you in mind.

The ‘buy it now’ option will allow you to set a price,
and buyers can buy the item immediately, without
bidding, for that set price. This option can be used
for any type of item, and it should be set to match
your reserve, give or take a few dollars. This option
is great if you have multiple identical items to sell.

Shipping has a price, and potential buyers take this
into consideration when they are looking at an
auction. If you can see your way clear to offer free
shipping, you will find that people are placing more
bids. Make sure that your potential buyers realize
that you are offering free shipping!

Before setting any prices, you need to determine
what the item is really worth. The value of the item in
different markets might be quite high. However, you
are selling on eBay, and it is a different world
altogether! Find out the price that similar items sold
for on eBay before setting any prices. If it is a
collectable, or a high ticket item, have the item
evaluated to ensure that you aren’t going to lose
money!

eBay Scams – Steps to Take if You Have Been Defrauded

eBay is a relatively safe marketplace. Unfortunately,
like most online marketplaces, it is vulnerable to
scams. eBay tries to keep instances of scams
occurring, but with more than 100 million members,
and approximately $40 million moving through the
site on a daily basis, this can be a little difficult.
Sometimes, scams occur.

If you have been scammed, there are certain steps
you need to follow to report the incident, and to try
to come to a resolution. If you paid for the item
through Paypal, the first step is to login to your
Paypal account and open up a dispute for the
payment. If you did not pay through Paypal, contact
your credit card company. In most cases, if you have
used one of these two cases, you will recover your
money.

The next step is to use eBay’s dispute process to
report the seller. This is specifically for items that
were not received, or items that were significantly
different than what was described in the auction.
eBay also has a purchase protection program to
further protect buyers. If a settlement cannot be
reached with the buyer, the next step is to make
an eBay buyer purchase protection claim.

eBay Gift Certificates – The Gift Solution Suitable for Everyone

We all know one. There is at least one in every
family, and one in every circle of friends. There is
even one in every office! There is always that one
person that you know who is absolutely impossible
to buy a gift for! These people either have everything,
or want nothing. They don’t drop hints at all, and
when asked, they simply say that they don’t know,
they don’t care, or they don’t want anything.

Well, now you can buy a gift for that person. The
solution lies in an eBay gift certificate! This will allow
your loved one to essentially buy anything that they
want, in a very exciting way. eBay gift certificates
can easily be purchased through paypal, in varying
amounts.

There are things that you should point out to the gift
recipient, however. For instance, eBay gift
certificates do expire. eBay gift certificates will not
be accepted for all auctions either – they can only
be redeemed for those auctions that accept Paypal
as a form of payment. Other than that, your loved
one should not have any problems redeeming their
eBay gift certificate!

eBay Data and Research – How Important Is It?

eBay is a business anyway you look at it. Sure, it is
a great deal of fun for both the buyers and sellers,
but when you look at it from another view point, you
will see that it is a business from the seller’s point
of view, the buyer’s point of view, and eBay’s point
of view. 40 million dollars a day travels through eBay.
Selling items on eBay successfully is an art, and
eBay offers many different forms of Data and
Research to ensure that you are selling the right
items, to the right people, in the right way.

Some of the data and research is not free, but much
of it is. The available resources include hot items by
category, eBay Pulse, merchandising calendar,
sales reports, marketplace research, buyer
behavioral report, and the eBay solutions directory.
These tools are quite easy to use, and the
information that can be gleaned from them is
extremely valuable.

The Data and Research tools are all accessible
through your seller’s account, by clicking on the
‘Advance Selling’ link. Learn to use those tools, and
get your piece of that $40 million eBay revenue each
day.

eBay Courses – Are They Worth It?

There are numerous eBay courses that are available
on the Internet today. These books and courses are
designed to help you become more successful on
eBay. Unfortunately, not all of these courses are
worth the money that you will pay for them. Some of
them are full of what used to be good information –
when it was relevant – and others are simply junk
information, written by someone trying to make a
quick buck.

Before you purchase any eBay course, find out when
the course was written. If it was written in 2004, for
instance, you don’t want it. Even though that hasn’t
been very long ago, eBay changes so fast that much
of the information will not be relevant. However, if the
original issue of the course was written several years
ago, but the course is updated each year, this will
probably be a good course for you.

Again, use care when purchasing eBay courses.
They can be quite helpful and enlightening, but only
if the information in them is still good. Talk to other
eBay sellers – preferably successful ones – to find
out what courses are recommended.

eBay Business Solutions

If starting an eBay business is your goal, as
opposed to just auctioning a few items off for some
extra cash, you need to use the eBay business
solutions that are available to you. Because eBay’s
success depends on the success of its sellers,
they strive to help you at every turn. eBay Business
Solutions is the key to starting an eBay business.

eBay Stores is one of the better solutions for eBay
business owners. An eBay store will allow you to
list multiple quantities of the same item, and allow
you to keep them listed for longer time periods.
eBay Store owners also enjoy lower auction fees,
and have access to advanced merchandising tools.
Eventually, you should consider upgrading to an
eBay Pro Store, which will allow you to customize
your storefront with your own brand and web
address.

There are many other eBay Business Solutions,
such as seller tools, the eBay solutions directory,
and the merchant solution center, but you should
definitely start with your very own eBay store,
followed by an eBay Pro Store.

eBay and Drop shipping – Getting the Product to Your Customer

If you hope to own an eBay business, and make a
full time living at it, you can easily make that dream
come true – even if you don’t have a product of your
own to sell. eBay provides many people who want to
quit their corporate nine-to-five jobs with a way to
make a good living, without having to put up a lot of
start up capital. This is made possible with the help
of drop shippers. Drop shippers send merchandise to
the customers of business owners. If you have an
eBay business, you are a business owner. This will
allow you to offer a wide variety of stock in your
eBay store, without having the need to warehouse
all of those products!

All you have to do is set up your auction, and sell
the product. You then pass the customer’s
information on to the drop shipping company. The
drop shipper does the rest, and they will even use
your company information, as well as your company
logo if you have provided it to them. When the product
arrives at your customer’s home, they will have no idea
that your company didn’t send it. The drop shipper
will package, label, and ship the products that you
sell, allowing you more time to set up even more
auctions, for greater profits.

You must establish a relationship with several drop
shipping companies in order to become successful.
In the beginning, most companies will require you to
pay for the items that your customers order before
they are shipped. You need to fill orders in a
timely manner, so you should pay for the items with
a credit card for speedy service. Eventually, you will
be able to have the drop shipper fill your orders, and
then bill you for them later.

When you set up your eBay auctions, make sure
that your reserve price is set higher than the price
that the drop shipper will be charging you for the
item. The idea, of course, is to earn a profit!
Depending on the item you are selling, a markup
of about 10% should be about right, but you should
do some research to see if the item is selling for a
lower price in another eBay auction, or through
other online sources.

By starting an eBay business using the drop
shipping method, there is essentially no financial risk
involved. The product will be sold before you pay the
drop shipper for the item. This is one of the few
businesses where you can actually turn a profit
before you have expenditures!

eBay and Customer Service

If you are running an eBay business, you may not
realize that the need for great customer service still
exists – even for online auctions. When a buyer
receives quality customer service from you, they
will potentially do one of two things – or both. They
will give you great feedback, and they may look for
more of your auctions in the future. If you hope to
make a living from eBay, you have to stop thinking
of it as an ‘auction’ and start running it like a
‘business.’

If you owned a brick and mortar business, how
would you treat your customer while they were
standing at your counter, waiting for you to finish
ringing up their order? You would be helpful and
respectful of course! You would do everything that
you could to guarantee that customers return to
your establishment in the future. You would bend
over backwards to make sure that their buying
experience with you was both satisfactory and
enjoyable. Why would you do any less at the
close of one of your eBay auctions?

First, act quickly at the close of your auctions.
Contact the winner, and congratulate them. Describe
the item they have won and how the item will be
shipped – even if this information is already part of
the description for the auction. Remind them of their
winning bid amount, and give them payment options
and instructions. Let them know when the item will
be shipped.

Close your email by thanking them for participating
in your auction. You might even take this opportunity
to tell them about other open auctions that you have
as well. Think of this contact with the winner as a
conversation that you are having with a customer
who is standing at your counter in that imaginary
brick and mortar store.

Once the payment and shipping details have been
taken care of, contact your buyer again. Let them
know when the item was shipped – the exact date
and time – and when it is expected to arrive on their
end. During this contact, let them know that if they
have any problems or questions, that they should
contact you through the eBay site. If they do
contact you in the future, make sure that you
answer promptly, and that you do all that you can
to make them happy with their purchase – even if
it means issuing a refund.

Yes. You should be open to issuing refunds,
depending on what the item is. Furthermore, you
should issue refunds promptly. Of course, it is
reasonable to expect the buyer to return the item to
you, at your expense, before the refund is issued –
but once you receive the item, issue the refund
promptly. This is just good business!