eBay is a great way for anyone looking to delve into online business, and there are many people who have recognized this opportunity and as a consequence spend a great deal of time figuring out which items sell the best on eBay. Many of these people have systems in place that determine top selling products and others purchase courses that teach them how to find this information as well. However, one of the best resources for finding out about products that are popular is on eBay itself!
One of the ways in which eBay helps me find a product that could potentially do very well, is by simply browsing through categories that i'm interested in. Whilst doing this I can then uncover items that are attracting a lot of bids. But how do I know this? Simple. Next to any item that has received over 30 bids is a label saying 'hot'. This suggests that the item is widely sought after. Spend some time searching around eBay and you can soon find some real gems and some great niches.
Many power sellers however will agree that it is not as simple as solely doing this. Also, search for items by researching auctions that have been successful previously. This can be done on eBay at http://listings.ebay.com. Another way to determine best selling items is by using the 'eBay Marketplace Research'. This allows you to view important statistical information on eBay buying trends, and contains a huge amount of information to help you discover whether an item will perform well or poor at auction. The eBay Marketplace Research does require a small fee to use though.
One of the most obvious tools that can be used to find popular items is by viewing the listings of popular eBay search terms at http://popular.ebay.com. Divided into categories, this list shows how popular an item you are considering selling might be.
It is important to do your research before going ahead with your auctions. You could be surprised in what you find may sell well. Some of the most unlikely items are sometimes the most popular, yet items that you would think would sell like hot cakes sometimes fail to realize a single bid.
One of the drawbacks for anyone wishing to expand an interest in auctions into a business ? be it part or full time - is the need to have stock to sell. Here are some of the issues you face:
Locating suppliers of stock at affordable prices Somewhere to store your stock The means and space to wrap the items The time to take them to a Post Office
One of the ways around all of these problems is to use dropshipping. There are many people in the USA making extra cash, and in some cases making a living, by selling items on auctions on a dropship basis.
Dropshipping has arrived in the UK, and you may want to consider it further. You might be asking, ?What on earth is dropshipping??
Dropshipping is a system of trading offered by certain suppliers. These suppliers have stocks of goods, normally products which will sell well on auctions, and which they are willing to package and forward to your customers DIRECTLY.
This is how it works. Let's imagine you are a seller on eBay. You join a dropship company. You then get access to the company's online catalogue, which will usually have hundreds of items at discounted prices. It will also explain to you how much they charge you for P&P to your customer.
You select an item, create an auction listing and list it. The auction finishes, and your winner pays you.
All you now do is send the winner's name and address, and the payment, to the dropship company. The payment is the cost price, plus the agreed shipping cost. The dropship company then package and send out the goods to your winner. Your profit is the difference between the discounted catalogue price you pay, and the winning bid.
The system has some great plus points - you've made zero outlay up-front for stock, and you are alleviated of all stock storage, packaging and mailing problems. And you have a ready made supply of new and different product lines.
On the flip side, you need to be careful you can make enough margin - don't forget you pay any auction fees incurred. And if you accept PayPal or any other online credit card payment system, you will have to pay their percentage too.
With the right product, at the right price, dropshipping might be a useful addition to any eBay seller's armoury.
Both Thomas Berten & Brian Mcgregor are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.