Make Money Online Cnbc
The E-Bay effect?
I recently watched the CNBC special report by by David Faber in regards to the paramount online auction that is otherwise known as Ebay. Every second $1000 dollars of merchandise is sold thru e-bay with 135 million registered users operating in 32 international markets; this is a lot of money that we are talking about! Watching that show show on CNBC got me very interested in starting my own E-bay buisness. One could make a pretty decent living if they play their cards right when using E-bay. My question is is there anyone out there that has had previous experience with E-bay any tips and tricks one should know when you use this site? Does anybody have a buisness on E-bay or previously had one in the past? Good Experiences? Bad Experiences? Your opinions and answers are welcome!
Sources: Google
: MSNBC Small buisness
Sell products that people actually want.
Selling on eBay is not as easy as some portray. In fact, go to eBay and check out the number of auctions that end without a single bid. Competition is getting tough, as more sellers go to eBay; even the big boys are joining in the eBay marketplace. Add to that the increasing listing and final value fees.
Buying from garage sales and selling on eBay is fun, and good getting a few dollars here and there from ebay. Sometimes, you luck out on an item and hit big, but many times it will just be so-so (assuming you can even get the price you paid for it). In terms of fun factor, it is great. But from a business stand-point, it is not sustainable. If you want to earn serious money from eBay, you need to have a well-thought out business model.
One success model of ebay is the couple Jay and Marie Senese (username jayandmarie) of the 1-cent CD fame. They have the highest positive feedback number of all sellers on eBay. Their business model is to buy very low cost CDs in bulk (those that CD stores sell in their discount bins) and offer them on ebay at a starting price of 1 cent http://www.businessweek.com/magazine/content/04_23/b3886080.htm Their success is based on the fact that they stumbled on a sustainable business model with products that people really want. They sold their business — where else but on ebay — for $5 million! Now that is success.
eBay has several ways for you to determine exactly what the hot items to sell on their marketplace:
Items In Demand = the most popular items currently within that particular category. To see the In Demand page, go to http://pages.ebay.com/sellercentral/sellbycategory.html
Hot Items by Category Report = a monthly report that lists the fastest growing categories on eBay for the previous month. Go to http://pages.ebay.com/sellercentral/whatshot.html and select “Hot Items by Category” from the menu on the left.
eBay Pulse = “a daily snapshot of current trends, hot picks, and cool stuff on eBay”. Go to http://pulse.ebay.com/ to see eBay Pulse in action.
Merchandising Calendar = eBay promotes specific categories on its home page each month. Savvy eBayers know that this home page exposure results in more interest in such categories. Go to http://pages.ebay.com/sellercentral/calendar.html to view the current Merchandising Calendar.
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