inkyMoney

Earn

10 Newbie Tips To Sell Your Stuff On eBay For Quick Cash

Posted on by in

When you are in need for quick cash, there are few things you can do that is better than clearing the junk you have stored in your basement. You get the best of both worlds. You spouse will stop nagging at you about the clutter, and you get a quick short term cash relief from selling your junk. And who is to know that you won’t be able to turn it into a full-time business?

The problem is that even though we now live in a very technologically advanced world, there are still many of us who won’t, or unable to, embrace technology. And this could be the very reason you have been staying away from online auction sites like eBay all this while.

Well. Fret not! Here are the basics to get you going.

Popular this week:

1) Research

Look for similar items on the internet or on eBay itself and find out how much they are charging. You want to do this for 2 reasons.

Firstly, you don’t want to price yourself out of a sale from being overpriced. Items like electronics are very price sensitive. If 2 sellers are essentially selling the same thing, the choice becomes very clear when one seller is selling at $10 less than the other.

And here’s the bad news. Items that you value the most are very often valued at a fraction of what you think it’s worth.

Secondly, you don’t want to be under pricing your stuff. Imagine that you have a collectible antique document with historical value and you didn’t know it. Thinking that it is just a piece of scrap paper, you auction it off at $10 when there are actually collectors willing to pay hundreds or thousands for them. That can be a mistake that cause you sleepless nights.

2) Let the market determine value

It isn’t a coincidence that most of the highest priced sales that attract all out bidding wars started with low bids. But many product owners who fail to see this trend value their items so much that they set a high opening bid. This high opening bid will turn off many bidders.

When you start low, you get more buyer activity, which leads to a more engaging dynamics, and the higher possibility of frenzied bidding from those involved.

3) Timing is essential

You can’t expect maximum exposure if you conduct a short 3-day auction during weekdays. To make the best of what you have to,

Run auctions that last for a minimum of 8 days so that you make use of 2 weekends

End your auction on weekend nights when most buyers are free

4) Be fair with shipping

Online buyers are actually very willing to pay for shipping fees. What they are not willing to pay for is excessive shipping charges that don’t make sense. This problem was initially created by sellers who sell things at low prices but charges an arm and a leg for shipping. The low prices were just cleverly hidden gimmicks. This has made buyers today very savvy with picking out these shrewd sellers.

Charge a fair price. And if you really do have to charge a high price for shipping, include information detailing why it has be so. Dimensions, weight, fragility, etc, are all good reasons that are easily acknowledged.

5) Writing descriptions

Users on auction sites like eBay are already in a mood to buy. You don’t need to write like a fancy copywriter using 1000 words to raise the buying temperature. The most important details of your listings are features, condition, model numbers, etc.

Because buyers are usually already aware of what they are buying, these details serves to assure them that this is the correct item they have been searching for.

6) Pictures

You pictures don’t have to be in great quality. Unless it is to display a flaw in the product like a scratch, pictures also serve the main purpose of letting a potential buyer know that he has the correct product. Saying that, the more pictures you have, the better.

7) Offer a guarantee

The first thing that comes to mind when you think about giving guarantees is usually “no way”. But that is the wrong way to approach it. Refunders are a minority. Anyway, if you are confident with what you are selling, there is no reason to be afraid of offering guarantees.

Yes. You might run into people who ask for their money back for stupid reasons. But the higher sales generated from offering guarantees will fully make up for the small losses you incur for refunds. Think big.

8) Avoid dealing with those with bad ratings

eBay is one of the pioneers of the feedback system. In fact, I would attribute a huge portion of it’s success to it’s feedback system. So make good use of it.

If you see that a buyer has a history of bad ratings and feedback from other sellers and buyers, it is a clear sign that you could be dealing with a trouble maker.

Trust me. The headaches caused by a problematic customer fully outweighs the little joy you have for selling something. It’s just not worth the time and effort to do business these people. You are better served attending to genuine buyers sitting on the fence who have good ratings and feedback.

9) Be responsive

If someone ask you a question about your item listed for sale, it is a sure sign that you have a prospect who is genuinely interested in buying.

In the online world, there are very high expectations on responsiveness. Many times, people feel that you are not dependable when you answer tickets in 12 hours or more. It’s not that answering questions within 12 hours will surely close a sale. But answering fast can really make someone feel confident enough to buy from you.

10) Don’t limit yourself to eBay

There are many other places that allow you to sell your stuff. Don’t think for a minute that eBay is the only place you can use. Many of them are also category-specific to certain types of items only. If you have some type of specialty item, these places could be a better place to list them. You can find other auction sites by just searching for them online.

Related Posts