Are you looking for ways how to buy and sell for profit on ebay? Take a look at my other articles ebay bargain finder and how I made money with ebay first starting out. In this article I will describe in detail how I used this method to make a nice extra income from ebay. Ebay is a great resource for anyone looking to make an extra income in a flexible way from home.
How To Buy And Sell For Profit On Ebay
Take a look at the image below and see if you can see what is wrong with this listing. I found this listing within a few minutes searching using this tool: www.auctionmisspellings.co.uk
The website title might give it away! I made £50 from a listing very much like this several years ago simply because a TomTom sat nav had been incorrectly listed much like this one. The problem then is that no-one can see the listing. It will probably sit there on Ebay until the auction finishes – unless a savvy buyer snaps it up. However this listing goes, it certainly won’t get it’s maximum price. This is because even if a couple of people bid on this item, there won’t be a bidding war to push up the price.
Although Sat Navs are not as in demand as they once were I am just using this as an example of how to find items which can be picked up for next to nothing. To find this listing I typed “TomTom” into the auction misspelling tool I have listed above.
How To Buy And Sell For Profit On Ebay – The Next Step
Once you have found a potential bargain by using your misspelling tool you need to do some research. Click on the advanced button in ebay next to the large search button at the top of the home page.
Type in the description of your item, I typed in Tom Tom One XL. Scroll down and click on the ‘completed listings’ tab. Here are some of the listings I found:
As you can see, a similar listing sold for £21.00 with £5.99 postage. Although this isn’t a huge markup, you can see the potential of this idea. The Tom Tom I originally found sold for around £108 and I picked it up for around £50. By finding items like these and then relisting them with a low starting bid and much better title and keywords, you can easily make money using this idea. Make sure you spell everything correctly and have a few good pictures.
Some items will sell for less simply because they have poor pictures, descriptions, feedback or lack the correct keywords in their title. List your item with a low starting bid like 1p to entice more bidders. You can also list it so it ends on a Sunday evening when everyone is at home to bid! Ending a listing mid-week might mean less people are available to join in the bidding towards the end of the listing.
I used professional pictures of the item as well as my own pictures. You can find these on Google or in some similar listings. Good pictures make all the difference. Make sure you also list any defects of the item to eliminate any complains or problems. I also used to send my items recorded and signed for to avoid any non arrivals or missing items.
How To Buy And Sell For Profit On Ebay – Bidding On Your Bargain
Once you have found a bargain item you would like to bid on and have checked that similar items sell for a good mark-up, you shouldn’t bid straight away. Doing this will only push up the price and encourage a bidding war! In some cases you can put a bid on if there are no bids already. This is so that the seller can’t change their listing should they realise their mistake!
If you wait and come back at the end of the auction you might find they have relisted their item with the correct spelling – this would mean you won’t get such a good price. This is because if the item is spelled correctly other bidders can see the item in the listings. Placing a bid on the item means that they can’t change their listing title. Only do this if the item has no bids already. Also you should only place the lowest possible bid at this time – otherwise you may push up the price.
Bidding On Your Item With Auctionsniper.com
Use the website auctionsniper.com to place your maximum bid. Auction Sniper bids on your behalf in the last few seconds of an auction. This prevents you getting involved in a bidding war and pushing up the price of the auction. It also means you can set your maximum bid and avoid getting drawn in to the auction.
Be strict about your budget to make sure you get a good profit. This sometimes means letting go of auctions that don’t go your way. By setting your maximum price and sticking to it, you aren’t getting emotionally involved in winning an auction for “winnings” sake. Auction sniper will bid in the last few seconds up to your maximum bid. This means that unless someone else is doing the same thing (bidding at the last minute) or has already placed a larger bid, you will win the auction for less than your maximum.
Be aware that there are other “snipers” out there doing the same thing!
Choosing Small Items With A High Value
The biggest profits are to be found by selling expensive items which are small and easily posted. You can also find items which are only available for local pickup and then sell them on with a postage option. Often local items will sell for next to nothing because people are just clearing them out and don’t want the hassle of posting the item.
This applies to large items but you can also pick up items which can be posted such as coffee machines and other electrical devices. You can use the ebay local search tool to find items such as bicycles and weights benches which are difficult and expensive to post. Simply do an advanced search for your item and click the tab for local pickup only. Add your postcode and the distance you are prepared to travel. You can find the advanced search button at the top of the home page next to the large search button (see image above).
How To Buy And Sell For Profit On Ebay – Think Bigger
Selling an item for £20-£30 profit is all well and good if you can find 100 of them every month. However, it’s a lot easier to find an item to make a larger profit on, than it is to find 100 items and make a small profit on each. You can either search for 100 small items a month or 1 large item which makes you £500 – £1000 per sale. It’s a lot of work for only £30 per item.
You need to find the item, bid on it, win it and then relist it and post it – all for £30! Instead, set yourself a minimum of at least £100 profit for each item you are prepared to bid on. This means finding more expensive items to buy in the first place. It’s a lot easier to find 10 items and make £100 on each than finding 100 items to make £10 on each.
Here are a few other search ideas which you can plug into the misspell search tool:
Diamonds, mercedes, berghaus, delonghi, diesel, Toshiba, Panasonic, transporter, macbook, Northface, Apple, Jaguar, convertable etc.
How To Buy And Sell For Profit On Ebay – Experiment
You need to experiment with this method to learn how to buy and sell for profit on ebay. Make sure you do your research before bidding and get the best possible price. It is the buying price which will help you make a profit. You can’t know exactly how much you will get for your item. Take into consideration the sellers feedback and postage costs too. Make sure you know the condition of any items you buy in advance and measure this against any similar items which you are using to gauge your selling price.
You can use this method effectively to learn how to buy and sell for profit on ebay. It will take some trial and error to get it to work for you. I used to do this before I discovered a better way to use the internet to make a profit. Take a look at this page and learn how you can make £1000+ per sale with this digital system.