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EBay has become a phenomenally successful way for people to buy and sell across the world unhindered by the many aspects of traditional business that can cut into profits such as leasing shop fronts, theft and many other complicated issues. By comparison using eBay is an amazingly easy way to get your products in front of an enormous audience of hungry buyers through a trusted method of purchasing which opens so many doors for those looking to make money on eBay. So what are the eBay money making secrets?
First of all the secret of eBay success is nothing complicated, illegal or even particularly clever! The true secret to making money on eBay is learning where the hungry markets are, providing them with their products, sourcing those products at the best price then it is all about maximizing your impact on eBay. Works a lot like a regular retail business except for one thing, you are free from the limits of regulated pricing and from the confines of a brick and mortar business! You can also scale your business depending on your time; it can be a part time hobby or a full time job depending on your time and vision.
The most important part of this is finding a hungry market, and even better, a hungry market with little to no competition. Finding a niche like this and dominating it before anyone else does is the primary goal of many sellers and marketers and requires some investigation and vision. You can also compete in more traditional markets which can be relatively safe but you need to sacrifice your margins to make many sales so can be seen a safe but low money earners. Once you have found a niche you need to source your products, some people do this by buying up products on eBay and reselling them which can be very good if you are good at controlling auctions. Others look elsewhere such as second's wholesalers or importing cheaper goods from places like china then selling at a decent margin. Once you establish a good relationship with your supplier and the sales start coming in you may also be able to cut costs by buying bulk.
To gain these sales however you need to be able to manipulate eBay and use the most powerful selling tools you can. This is probably one of the most important things you can do while selling online, you need to have pictures! People buying online respond to a good picture way more than they do to descriptive text or price. Having good looking enticing pictures is primary to gaining peoples interest. Paying the extra cost to add pictures to all your advertisements on eBay is well worth it and you will gain many more views and bidders!
The last thing you need to remember is to provide the highest level of customer service to keep your reputation, in an arena which has many shonky or uncaring people flogging product being polite and prompt is vital for return service, word of mouth and good feedback which is absolutely vital.
So there you have it, eBay money making secrets in a nutshell! Not that hard, it just takes a level of investigation to find your niche and products and you could be on your way to a very profitable business!
Are you excited by the prospect of running a profitable eBay business?Do you need some start up advice and powerful auction tools to help you maximize your profits?