eBay is a name that needs no explanation, it is a phenomenon that has expanded with the internet age.
Ebay, a symbol of the now infamous internet revolution has been going for over ten years. What started out as a graduates hobby and made him an over night billionaire when it went public is much more than just a business. It has inspired thousands of people around the world to start their own businesses and is the internet success story.
The fundamental purpose of eBay is the online auction. Any goods can be sold and bought from all four corners of the globe and it connects people at all levels.
As a business model, the online auction is a quite simple idea; the individuals who are interested in purchasing a product bid on it until time runs out with the highest bidder winning. The length of the auction is set by the seller at the start of the auction and the eBay software ihas been developed to make the whole process as safe and easy as possible.
Although eBay is not the only auction site it is different in the fact that eBay does not actually sell any of its products. It acts as an intermediary for other peoples products (eBay customers). It makes its money by listing charges and end of auction fees together with the subscription charges for its online stores.
Online auctions differ in other auctions in the fact that it allows 24 hour bidding to occur around the globe. As it worldwide the amount of people whom can view an auction can be massive. eBay can become a similar addiction as gambling for many people as they focus solely on winning the auction what ever the item is that they are bidding on.
The advantages of an eBay business over other businesses are that you have a massive marketplace, with no initial startup costs, little financial risk and low overheads. As your eBay store is open around the clock it is possible to sell items whilst your tucked up in bed. It is also possible to run your business from home or anywhere around the world if you are on vacation.
So how do you start your eBay business?
This may appear to many to be a little odd but once you have opened an eBay account I would recommend buying something on eBay. This way you will begin to develop an understanding of how the aucdtion site operates. It does not have to be a costly item, just something that will allow you to begin using the eBay system.
Copyright (c) 2008 8 Keys To eBay Success
Tool Boxes On Ebay
It is also just as vital to have a unique selling proposition on Ebay. I am amazed at the number of Ebay sellers that are either unaware or just don't care about the importance of having a unique selling proposition. A case in point: A while back, I was researching some products on Ebay from a wholesale company called B&F System. B&F System is a wholesale only company that carries a variety of brand name products. One of the brands they carry is called Maxam. I came across several Maxam leather jackets on Ebay while searching ended auctions. Now here's the kicker. About a dozen or so of these leather jacket auctions were exactly the same. They all used the same image of a guy modeling the jacket that was captured from the B&F website. They even used the exact ad copy used by B&F!
What was the result? Only one of the sellers was able sell any jackets. The top bid was only $26. And since he purchased the jackets from B&F for $20, he made about $5.00 profit after Ebay fees. That's a slim profit for an item that normally retails for $95.
Always keep in mind that the amount of effort you put fourth on you auctions will be in direct proportion to the amount of return you get from your auctions. The sellers who put up the jacket auctions put fourth little effort by using stock photos and ad copy from the B&F website, and therefore received little or no sales from their auctions. The sellers in this case might think that using stock photos makes their auctions look more professional. It's just the opposite. These auctions look very amateurish. Using a picture of someone modeling a garment will not entice people to bid on your auction. Using three or four high quality pictures of the actual item along with a detailed description will entice people to bid. Remember that buying apparel off the internet is not like buying music CD's or software. You don't need to worry if a CD will fit. You don't need to see multiple pictures of a box of software to know what you'll be getting. However, when selling apparel, good quality pictures and a detailed description are vital. You should use a good quality digital camera to take pictures of the item from different angles. If you're selling jackets or coats, include a picture of the lining as well. In your description, don't just say it's a large size. Give measurements of the garment including overall length, sleeve length and chest size. If you're going to specialize in apparel, it would be a good idea to purchase a form or clothing dummy to model your apparel. Doing these things will go a long way in setting you apart from the competition and establishing a "unique selling proposition."
What ever you're thinking about selling, always look at your competition and think about how to set yourself apart. Remember that unless you're selling antiques on Ebay, there's always someone else who's trying to sell the same thing you're selling. Establishing your USP will put you on the road to Ebay success
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Mark Inglis has sinced written about articles on various topics from How to Sell on Ebay, Fishing and belly fat. For information and advice on your ebay trading visit. Mark Inglis's top article generates over 74000 views. to your Favourites.