How to Make Money on EBay

Everyone knows that eBay is THE place to buy things for cheap online. But how much money could you make off of the world-famous auction site? If you're anything like me, you have numerous items lying about the house, untouched, that could put cash in your pocket. Because how much you make on eBay depends on what you list, the possibilities are endless. Whether you're looking for an extra $100 for a nice dinner, or enough to pay off credit card, there are a few ways to make a bundle on eBay.

If it's for sale, eBay has it. That statement is essentially the driving force behind the success of the online auction site. Some of the most unexpected items can be listed for sale and while some auctions have tested the laws of consumerism, for the most part, eBay is kind of like a world-wide garage sale. The best part, of course, is that anyone can buy or sell and with the most glorious discovery of the 20^th century, the 'search engine', the site allows a consumer to sift through all of the available products to find what they're looking for. In short, if you've got what someone else wants, they can find it quickly and easily. If you've got a buyer, you're making money. And what could be easier than using the world's largest auction site? eBay can be a little confusing to the first-time seller, so here's what I've discovered in my selling attempts and successes.

First, if you've never shopped on eBay you'll need to set up an account. Setting up your account is free and only take a few moments. After you've set up an account, you'll want to set up a Paypal account as well. This will take slightly longer because you'll need to enter personal information. Paypal is a sort of online money management system that keeps your personal information away from online buyers and sellers. Paypal is also the most common way to pay on eBay and is absolutely the safest. What you'll need to do on Paypal is create an account, using your account and routing number from your checking or savings account. Once you have the account you wish to use set up, Paypal will go through steps to verify the account. If you're planning on making eBay a business venture, or simply would rather keep your Paypal account separate from your every day banking account, you should open a separate account with your bank, or at a completely new bank. This way, your eBay finances can be kept separate and organized which may help when you need to review your earnings come tax time. After your account is verified, you're free to shop and pay via Paypal. In order to get a good feedback rating, make a few small purchases before listing any items. Buyers are much more likely to bid on items from a reliable member than from someone with no rating at all. Get your score up to 100% and your earnings will be much greater than starting with a 0%.

Once you have your Paypal account set up and your feedback score is at 100%, you're ready to start selling. The process of listing online is fairly straightforward. There are additional options that eBay offers at a fee that may or may not be appropriate for your item. First and foremost, you have to decide what to sell. Start with things lying around your house that you absolutely never use. Books, games, decorative items, are all capable of earning money. Selling them will also help clear out the clutter in closets and cupboards. Items that tend to earn the most are electronics, sports gear, brand name apparel, including shoes, and designer accessories. For your first listings, try cleaning out your bedroom closet. Anything that you haven't worn in over a year should be discarded. Find anything that still has tags or that has had tags removed but you never wore. EBayers follow an system of categorizing that includes clothing that is "New With Tags" New Without Tags" and "Other". A Gap sweater with the tags on will often earn far more than you'd expect. Also good sellers are dress slacks and capris for women. If you have a lot of spare t-shirts or tops, try grouping them into three or four items per listing. This will reduce the insertion fee that you're paying by listing three items as one. Lightly worn items can be sold often as well as long as they're clean and in like-new condition. Band t-shirts are especially popular and if you haven't worn the shirt since the concert, you may as well make some money off of it! Sporting equipment is another hot seller, as are shoes and winter outerwear. These are all things that to buy from a store with a name brand label can be expensive. They're also things that many of us having lying around, unused at home. Girls, clean out the shoe collection and earn some money for the shoes you love but kill your feet. While you're digging in the closet, find the set of ski goggles that you wore twice to go skiing or the down vest you got for Christmas and never wore.

Once you have a selection of items to put up for auction, take pictures of them so that the customer can see exactly what they're bidding on. EBay charges a fee to sell on their site, as well as for various extra features. Most clothing is a 40 cent insertion fee. One picture of the item listed is free, and after that they will charge you per picture. A gallery picture, or a thumbnail picture that appears when a buyer searches for an item is an extra 35 cents. The gallery picture is a must because more buyers glance through the pictures than will read the item title. Make sure you always have a gallery picture. The seller's site will guide you through the process of completing your listing. Everything from your title, the description, the size, color, style, etc. will be there for you to choose from. Make sure you check for a fee before adding a feature. They're often not free. Reserve prices and 'Buy It Now' prices also come with a fee. A reserve means that your item will not sell for less than the hidden amount you've set. Buy It Now is a price that bidders can give you right away, ending the auction and paying a flat rate. I've discovered that auctions can do very well by simply starting them at $1.00 and allowing them to progress based on their popularity. Often if a bidder discovers a reserve hasn't been met, they'll try to find a similar item without a reserve. Buy It Now works well with larger, more expensive items, but often on clothing and shoes, a low bid will be more popular with the buyers.

The final items needed for a successful sale on eBay is to make sure you calculate your shipping costs appropriately. To do this, check the prices of other similar items that are listed. A flat rate is usually the most reliable, though if you plan on offering shipping to international destinations, you'll need to be able to calculate the prices to various countries. Both USPS and UPS allow you to calculate online to get a general idea of your price. If you have spare boxes and packing supplies around the house, try to use them before buying packing and shipping to keep your costs down.

Once you've made a few sales, it's easy to get used to the process that selling items on eBay requires. Make sure to describe your items accurately and in detail. Pictures are the key to selling success, and above all, make sure you're not shipping for more than your shipping charge. Simply look around your closets, basements, attics, and garages. More likely than not, there's something there that someone else is willing to pay you for!