Get Yourself A Piece of The eBay Pie

Ebay is without a doubt the greatest internet marketing phenomenon of all time. Millions of people log on every minute and every second there are hundreds of items listed, sold and bought, and of course money is made. It has become the world's largest marketplace, where the potential for selling an item is exponentially increased due to the sheer volume of people who can view the item for sale.

The attraction Ebay holds for the most people is the possibility of selling or buying anonymously, and getting a great bargain. And for the first time ordinary people are making extraordinary incomes selling literally everything from beanie babies to diamond rings and cars. For those who venture out of their comfort zones into the cybermarket place, the following may com in handy as a guide to selling on Ebay:

A. RESEARCH WHAT IS LIKELY TO SELL, DON'T JUST SELL ANYHTING

Contrary to what you might think, not everything sells on Ebay. Your success on Ebay depends on selling what people want and need, and what they will pay for. You can find this out by browsing closed auctions of items you are interested in selling, see how many bids there were for the item and how high the bid price went. The more bids and the higher the closing price the more successful the auction.

B. ASSESS THE COMPETITION

It's no use selling an item that there are hundreds of thousands to choose from. Your chances of success will be severly diminished. The rarer the item and the fewer the number of people selling the same item the better your chances of making a sale. Find out how many similar items there are for sale by using the search feature on Ebay. Avoid items that are oversupplied and that everybody else is selling.

C. FIND THE CHEAPEST SOURCE OF THE ITEM

The best way to begin is by using a dropshipper. This is a wholesaler who will ship single items on your behalf to your customers and does not charge you a fee to do so. You don't have to keep inventory of the items you sell, and you order the item to be shipped to the buyer after you have sold it on Ebay, thereby reducing your risk to near zero. Remember the principle "Buy low and sell high" That is the key to maximizing your profits.

D. LEARN THE TRICKS OF THE TRADE

It is prudent to learn as much as you can about how Ebay works before you start, as there is more to it than meets the eye. There is no surer way to fail than to jump in without doing your homework well and believe me, it is work. If anyone says otherwise they're simply not telling the truth.

E. START WITH A SMALL MONTHLY BUDGET AND STICK TO IT

Don't spend more money that you can afford to lose. As with all businesses it takes time to tweak your skills to perfection. It is very easy to fall prey to internet sharks who promise fantastic returns in a short period of time. It simply does not work that way.

F. GIVE IT TIME

Forget about making a lot of money in a short time. It is slow tedious work,a ndmake some allowances for failure. Don't get discouraged. Find out what works and what does not work and improve yourself as you go along.

c. Michael Schandorf-Lartey 2004
http://www.amazingdealz.dropshipdesign.com

Michael Schandorf-Lartey is an internet entrepreneur, and operates a successful wholesale sourcing website that assists internet newcomers to launch their own Ebay businesses. He lives in Clermont, Florida with his wife and three children.

In The News:

Aviation Week
Continental Airlines Applauds FAA Order to Stop Newark Slot Auction
MarketWatch - Aug 28, 2008
The FAA Chief Counsel said he acted under the authority from the FAA Acting Administrator and found Continental and other airline protesters of the auction ...
FAA delays first slot auction for Newark Forbes
FAA Suspends Auction of Flight Slot at Newark Airport (Update2) Bloomberg
FAA Puts Newark Flight Auction on Hold WNYC
Aero-News Network - NY1all 183 news articles

Blog auctions to help Mesa plane crash victim
Arizona Republic, AZ - 8 hours ago
29, 2008 10:07 AM Bloggers are holding online auctions to support a Mesa woman who was critically injured in an airplane crash last week. ...

3G spectrum auctions to be over by September 30: DoT
Business Standard, India - 11 hours ago
PTI / Mumbai August 29, 2008, 20:01 IST The auction process for the third generation (3G) spectrum service are likely to be over by September 30, ...
3G auctions to end by Dec: DoT secy Financial Express
norms not against foreign telcos Economic Times
Foreign firms' 3G quality may suffer for want of spectrum Business Standard
all 6 news articles

Deutsche Bank Auctions Richter, Baselitz Art for AIDS Charity
Bloomberg - 13 hours ago
29 (Bloomberg) -- Deutsche Bank AG, owner of the world's biggest corporate art collection, will tomorrow auction works by artists including Gerhard Richter, ...

Monsters and Critics.com
Jerry Lewis MDA Labor Day Telethon Adds Online Auctions to Lineup
Auctionbytes - 11 hours ago
By Ina Steiner The Muscular Dystrophy Association will launch its first-ever national online auction in conjunction with the 43rd Annual Jerry Lewis MDA ...
Jerry Lewis talks troubles, television and upcoming telethon Monsters and Critics.com
She Didn't Need Help Laughing Parade Magazine
all 3 news articles

Menzies' plan of auction
The Australian, Australia - 9 hours ago
How apt, then, that auction house owner Rod Menzies has chosen a Warhol work as the show stopper at his next sale. Following recent attacks from his critics ...
Slump in sales leaves art auctioneers hanging The Australian
all 2 news articles

Examiner.com
Auctions and Antiques Examiner
Examiner.com - 7 hours ago
These websites were picked by the Auctions and Antiques Examiner as useful resources. One of the busiest areas in collectibles and a mainstay has been dolls ...

HispanicBusiness.com
FACTBOX-Fed's liquidity tools
Forbes, NY - Aug 28, 2008
The $50 billion option draws will be in addition to the $200 billion that may be offered under regular TSLF auctions. Under the TSLF, the Federal Reserve ...
Fed actions to boost liquidity guardian.co.uk
Federal Reserve auctions $75B in loans to aid banks Youngstown Vindicator
Fed auctions another $75B to ease credit stresses Forbes
guardian.co.ukall 37 news articles

Best Syndication
Setting The Record Straight On Repossessed Car Auctions
Best Syndication, CA - 3 hours ago
A lot of it is aimed at pushing people to car auction membership sites. Look, I've got nothing against these sites. As a matter of fact, I'm a paid member ...

Opinion still split over privatization of court-run auctions
The Daily Yomiuri, Japan - Aug 28, 2008
The government panel for regulatory reform and real estate companies are asking the government to privatize auctions currently conducted by courts. ...
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