Hundreds of thousands of home businesses worldwide are based on ebay and other online auction sales and the number of fulltime ebay merchants is still growing. The range of products for sale is mind-blowing, everything from broken toys to aircraft can and have been sold on ebay alone. Pretty much everything tangible is of value to someone, somewhere and the best sellers are those who know how to spot a value gap. That is to say, they know a bargain when they see it because they know others are willing to pay more than that bargain price they themselves are paying.

Most ebay sellers start out small, perhaps selling some unwanted household item or similar before becoming hooked on the joy of selling something for a profit. Some move on to seek out items at weekend markets or garage sales with the intention of turning a profit at auction and of course most professional ebay sellers are selling their own products or are reselling products from wholesalers and dropshippers. Many sellers are selling second hand goods which they have restored or improved in some way specifically for ebay.

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Now for those top ebay tips and tactics:

It is a whole lot simpler to manage a small number of high value items than it is to manage lots of small ones. Try to concentrate on higher value items particularly those specialty or collectible type items which can generate strong competition between buyers.

Be wary of the economics of listing fees which can mount up with additional photos, gallery listings and the like. It is hard to profit from low margin items when fees make up a substantial portion of the selling price. Better to sell higher value items for this reason also.

Try to list your items with a low starting price, this tends to attract early buyer interest and ultimately the best final bids. For high value items make use of the reserve feature to protect against too low a final price.

Avoid selling items easily sourced in everyday shops and malls. Buyers will generally favour the mall where they can see and touch the item before parting with their cash, so again try to offer specialty or uncommon items wherever possible.

Good descriptions and photos are vital. Use multiple photos if necessary to ensure details are highlighted. Make sure that colors, exact measurements, unusual features, general condition of the item etc are all well covered in your description. Use a great photo for a gallery listing to attract more potential buyers.

Service, service, service. You simply must answer queries and send out your goods promptly. Also, make sure you give the buyer feedback as soon as he has paid. This not only makes the buyer feel more secure but also leads to great feedback for you as the seller, so that other potential buyers get the feel good factor about you.

If you are serious about ebay as an income stream then open an ebay store. This not only gives you a more professional image but also allows you to cross promote your other items easily. Stores also get more traffic which equals more buyer competition for your goods.

If possible, offer a range of payment options. Direct transfers, credit cards, paypal, money orders etc. The buy it now option is great for hooking impulsive buyers. The more payment options the better from the buyer attraction point of view.

Consider offering your goods to the international market. The wider the marketing net the greater the competition for your goods. Obviously this won’t always be suitable where international shipping costs may be prohibitive on bulky items or there is limited suitability of the item concerned (selling ice to eskimoes?).

If possible offer a guarantee or refund policy. Buyers are more likely to buy from you when you have a visible guarantee or return policy.

Finally, use a little hype factor where appropriate use phrases like ‘this season’s must have’ and ‘limited stock’ which can also increase sales particularly in combination with the buy it now option in getting the impulse buyers attention.

If you’ve not already tried ebay you’re missing out on a fun and profitable hobby or business. Register today if you have not done so already.

10 Mistakes to Avoid: