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What Are the Best Tips for Making Money with eBay®?

Article Details
  • Written By: Jeremy Laukkonen
  • Edited By: Allegra J. Lingo
  • Last Modified Date: 30 November 2016
  • Copyright Protected:
    2003-2016
    Conjecture Corporation
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Making money with eBay® is something that just about anyone can do, but it is important to know what to sell and how to go about it. For a new eBay® seller, the best place to start is personal possessions and items that are cluttering up the basement or attic. The next step can be to go to local garage sales or talk to neighbors, but it is often possible to just buy items at a local store and market them to international buyers. After some success has been achieved, it is usually a good idea to obtain a business license or tax identification number to be able to buy items wholesale.

The best way to get started making money with eBay® is typically to go through old belongings and start listing things for sale. A lucky seller may find some hidden gems in the attic or garage, but even small sales can help build up a solid seller rating and get rid of clutter. The next logical step can be to offer to do the same thing for friends and neighbors, in effect selling their items on consignment. Any money obtained in this way can then be used to purchase items from local garage sales, big box stores, or other locations.

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If selling items on consignment for friends and neighbors was an enjoyable and profitable activity, this is a type of business that is often used for making money with eBay®. Consignment businesses typically have a storefront in a commercial area with good foot traffic in addition to other sorts of overhead costs, so it is usually a good idea to make sure this is the right type of venture. Potential customers will typically come in and leave items for consignment or pay to receive help in creating listings.

It is sometimes possible to buy items at retail and sell them on eBay® for a profit. The way to do this is to identify items that are likely to become scarce, especially around the holiday season. This may result in the value of the item increasing, which can allow a savvy eBay® seller to make a profit. Another tactic is to buy products that are available locally but might be hard to find in other parts of the country or internationally. Products such as these will often sell at a markup over retail, which is one way of making money with eBay®.

A business license or tax identification number can facilitate the purchase of items at wholesale prices, which should result in larger profits. Another method of making money with eBay® is to make use of a drop shipping service. These services allow items to be sold on eBay prior to paying for them, at which point they can be shipped directly to the customer. In some cases, a business license is also required to make use of these services.

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