While many people use eBay as a website to buy a variety of products, not everyone has thought about using this platform to sell items. Despite that, eBay can be a great source of income when finding and reselling products, provided that you follow a process that works.
The crucial part about making this endeavor work is finding items that are going for a low price and have the potential to sell for a higher one. This is the key in business and the same logic applies when buying and reselling on eBay.
In this article, I will give you some tips on finding low-priced items that you can resell for a profit and also explain the best way to sell them on eBay.
What Is A Reseller?
A reseller is someone who buys and sells products for a profit. They buy them from the retailer (the original seller) and then sell to customers at a higher price, making a nice margin of the difference.
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The word 'resell' refers to the fact that goods are bought and resold without any fundamental changes or modifications. The only difference that occurs is usually in the price tag.
What Makes An Item Profitable?
There are many items that you can find in a variety of places (more on this later) that are selling for much lower than they can be. Some examples include discounted video games, DVDs, clothes, tools, electronics, and even toys.
The key to finding profitable items is this: look for low-priced items that people keep on buying. On the flip side, avoid trying to sell things like clearance clothing or items that belong to a past fad, as it is likely that such products will be undesired by people looking to buy stuff.
Therefore, what makes an item profitable is how much demand there is for the product, how much it costs. This comparison can be made based on what people are paying for the item on the same or another platform (more on this later).
The cheaper an item costs and the more it can sell for, the better your profit margin will be when you resell it.
How Do I Find Items To Resell?
Let’s have a look at a few methods that you can employ to find items to resell.
Using eBay's Advanced Search
The first step to finding profitable items is by searching for currently low-priced ones on eBay.
To do this, you want to use eBay's advanced search options. Using these options is a great way to get started.
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When you are on the advanced search screen, you’ll be able to perform a variety of searches.
To start off, I recommend searching by keyword while excluding anything that doesn’t make sense. Also, you do not want your results cluttered with irrelevant information, so selecting just "Title" as a parameter will give you only the titles of items listed on eBay.
You can also search within a specific price range - this helps narrow down your results and stops them from being too broad.
Another search you can do is searching by "Best Offer" only - This will limit your results to items that people are willing to sell at a discounted price which is usually an indicator of the kind of item you could resell for profit.
When searching, you want to avoid any listings with no bidders (or very few) as this means there isn't much demand for the products on sale, and the chances that you can resell it are slim.
Therefore, you should look at items where many people are bidding because this increases the chances of you finding profit.
Using Other Sources To Find Your Products
If you can't find something desirable on eBay, you can always try other sites that might have your product available. Sometimes the items sell for less on these other websites, which means that is a good profit to be made with reselling.
Finding profitable items on other websites is very easy using the same methods as you did with eBay. The only difference is that you have to search for your article on alternative sites.
The first site to consider would be Amazon. With a huge marketplace available, you’d sometimes be surprised at the results that you get back. Amazon also offers its own affiliate program, so even if your profit isn't so high when reselling specific items, you might be able to increase it through this program.
You can also check the verified suppliers found on sites like Alibaba.com and Aliexpress.com. These sites are great eCommerce alternatives to eBay, and both have their advantages and disadvantages over this eCommerce platform. The prices are usually lower, but many more sellers are trying to sell the same thing, which might make your search harder to define.
If you are going to buy something from one of these sites, you should also try to contact the seller directly through email or instant messaging. This way, you can negotiate a much better price, especially if you’re buying in bulk.
Moreover, if you can get your hands on a sample of the item, you will also be able to check the quality of the product and judge whether or not there is potential for reselling it. If you think that the quality isn't too good, you can try to negotiate a lower price, but if the item is truly horrible, I would advise against continuing to work with such a supplier.
Thrift Stores And Yard Sales
These are two of my favorite offline places to look for products that you can resell. Whether you buy clothes at yard sales or antiques at thrift stores, you can make a reasonably large profit selling stuff on eBay.
The most important thing is to know the right price to pay for each different type of item. Sometimes an old-looking necklace will go for hundreds of dollars, but you wouldn’t know unless you take the time to really research valuable products to look out for.
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In addition, you can sometimes find items such as video games that are still in great condition in these second-hand markets. These games still have value and people are willing to pay for them, so they are worth checking out.
Coupons And Extraordinary Deals For Resellers
If you are like finding the best deals online, it is likely that you already know all the coupon codes and discount websites. Even if you do, make sure to check them regularly because some of these sites might come up with something new that would be interesting for you.
Websites like retailmenot.com or dealcatcher.com are good choices to find items to resell on eBay, but there are also tons of other coupon websites to consider. It's worth taking 5 minutes of your time every now and then to check these sites since it can save a huge amount of money when buying your products.Your Own Stuff
This might seem like an obvious one, but it's still worth mentioning. If you have many old video games or DVDs lying around the house, it might be a good idea to test the waters and see if you can sell any of these items on eBay.
Sometimes, the most obvious items are those that are just in front of us, so have a good look around you and see what value you can provide to the eBay marketplace if you were to resell items that you currently own.
Researching If A Product Has Potential
Before you buy anything with the aim of reselling it, don't forget that everything has potential value - if you can match it with the right target audience.
Suppose you are trying to resell an antique grandfather clock with a price tag of $30,000. In that case, that's probably not going to sell very well at all - unless, of course, you're selling it to a particular customer who is specifically looking for just that type of grandfather clock.
It's essential to do enough research before buying anything so as not to waste your own time and money on stuff nobody wants.
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At the same time, some resellers have found success by surveying their customers about high ticket items they desire and then providing them with an offer they can’t refuse.
For example, let's say you have a customer who wants a vintage Playstation 1 gaming console, and since you sell video games, it would make sense for you to look for that item amongst your contract, and try to get it for them at a lower price.
This type of reselling is very profitable because you are almost guaranteed that you won’t lose money on such a deal. Since you
The Process Of Reselling On eBay
Now that you've verified that the specific items you want to resell have potential, it’s time to go ahead and buy them. Once that’s done, it’s then time to resell them on eBay.
You have to have a professional-looking account to be successful on eBay, which means that your customers will trust you and be more likely to purchase from you. Here are a few things that can help
Decide What Kind Of eBay Store You Want To Run
An eBay personal account starts from around $5 per month when you pay annually (more on this later). With this low barrier to entry, you can create your eBay profile page in a few minutes and start selling right away.
Understanding what’s involved in the type of subscription you go for is key to having the right functionality already available within your store.
Set Up Your eBay Profile Picture And About Me Page
While an excellent-looking eBay profile picture is essential, it’s not rocket science.
Choose an image that either defines what you sell or shows you in the best possible light. If you go with the former option, ensure that there’s a lot of natural light in your picture and that you’re smiling as you face the camera.
When it comes to your about me page, this might be one of the deciding factors in whether or not a customer decides to purchase from you (or not).
On this page, talk about how long you have been in business and what makes you different from everyone else. If you have been selling on eBay for a while already, add relevant keywords so people searching for the types of products you sell will understand that you are exactly who they're looking for.
It's also ideal to include some promo material here, such as seller feedback rating, return policy, or anything related to building up trust. These things matter a lot when it comes to having a great conversion rate.
Have An Excellent Looking eBay Store Page
Now that you have your professional-looking profile picture and ‘about me’ section all set up, it's time to create a storefront page.
Having a storefront will let people know that you are serious about what you do and give them an idea of the types of items you have available. It will also make your sales look more natural because you're selling from a store rather than 1 item at a time.
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If somebody sees that you've sold 50 items in the past week, it probably means that you sell products regularly, and that you’re not on eBay to simply make money and then run away with it.
Focus On Creating An Engaging eBay Landing Page For Your Products
Various components make up your eBay landing page and are responsible for bringing in more conversions. To ensure that you get the most sales possible, here is a checklist of what should be included on your product-specific landing page:
You have to remember that your customers will see these things before they decide whether or not they want to purchase from you, so all of these components must work together to inform them about everything they should know.
You can never go wrong with having too much information on this page.
The Importance Of Having A Great Looking Product Image
Your product images are an essential part of your eBay store. An attractive image can make or break a product listing, so you must get this right.
You don't have to be a photographer to create nice-looking photos, but you should do your best to take pictures that are pleasing to the eye.
You can try experimenting with different styles until you find something that works best for you. Remember - people buy visually (and emotionally) first, so they want to see what they will be getting before purchasing. A great product image will make this possible.
Other Vital Considerations Before Starting An eBay Reselling Business
Remember that there are an infinite amount of products that you list when you become a reseller on eBay. While you don't want to go against eBay's list of prohibited products, you should test out different products if you believe there is a market for them.
Go to estate sales and flea markets and see which products you can resell on eBay. A yard sale, garage sale, or even a thrift store located nearby might provide you, as one of the eBay sellers, with a variety of reselling business opportunities.
You could consider setting up some type of arrangement where you buy clothes at a fixed price from a charity shop. This could be a great introduction to the clothing niche and a huge money earner if done right. The same applies to any other niche you want to get into.
Remember that eBay buyers are looking for good deals, so the better deals you can give them, the better chance you have of selling your products.
Selling through an online store via an eBay reseller business account, as opposed to selling in the offline world ensures you save money on renting a stall and the fees that come with it. This is yet another benefit that makes selling on eBay an excellent option for anybody trying to save some money and make the most of this opportunity.
Conclusion
Buying and reselling items on eBay means that as your store gets more extensive, you'll be able to define how much your items sell for. As a result, how much profit you make is only limited by the amount of work you put into your store, giving you a very competitive edge over other land-based businesses.
Selling items on eBay can also be a great business opportunity for anybody, no matter their skill level, especially those looking to start a home business. The best part about this is that it's much easier than most people imagine as long as you follow the proven principles mentioned above.
With all that in mind, I hope that the tips and tricks I've provided in this article will help you get started and become a successful reseller on eBay.
Further reading on MikeVestil.com: Check out my article on Etsy vs. eBay for a direct comparison between these two eCommerce platforms.