Selling on eBay has become a big moneymaker for many people. However, if you want to join their ranks and be among those who can turn a sizable profit from your auctions or Buy Now sales, you need to know and make the most of the top 10 eBay secrets listed below.
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#10 – Choosing the Right Keywords
Remember that you want your product to appear in the listings when people do searches. Otherwise, you’re never going to get any sales. That means you have to choose the best keywords possible. Depending on what you have for sale, that can be easy.
However, it’s always best to do some research on which keywords are frequently searched for. You can use free tools such as the Google Adwords Keyword Tool. Even though the tool isn’t designed to be one of the top 10 eBay secrets, it will provide the information you want.
#9 – Picking the Right Product
When you’re trying to decide what to sell, you want to find a product that is in demand but that not many other sellers have up for bids. However, you also need to choose something for which you can make a hefty profit. You’re looking for a 30:1 profit meaning you make back 30 times what you spent. The best ways to find such items are through the auctions themselves (just don’t get caught in a bidding war that drives up prices).
#8 – Listing at the Right Time
When you’re trying to decide when to post your item, you want to pick a time that will end up with your auction closing between 6 to 9 pm EST on the final day. During those last hours before the close is when your auction price will skyrocket but if you close at 2 in the morning or at noon on a weekday you’ll have less potential buyers available and you won’t see as great of an increase.
#7 – Listing on the Right Day
Probably one of the most interesting of the top 10 eBay secrets is that when your auction closes can have an impact on how much you make. Research has consistently shown that closing on a Sunday is the best choice (more than 64% of eBay sellers say this is when they have the best luck). Make sure to list your items so they close on a Sunday. The success of the Sunday closing probably has a lot to do with that being a time when people are home and near their computers.
#6 – Choosing the Right Format
One of the biggest decisions you need to make when posting a new product is whether you should choose the auction or the Buy Now format. Typically, these two auctions attract different people: Buy Now auctions attract serious buyers who want what they want right now while auction buyers are more interested in getting the best deal possible.
If you don’t have a good idea of how much an item you’re selling might go for, you’re better off with an auction sale. That way you don’t end up selling too cheaply and losing money or selling too high and losing buyers. If you do choose to do a Buy Now, set the price at 30% above what you expect the product to sell for through an auction.
#5 – Using Copywriting Skills
Just throwing a product up on eBay with a picture or two isn’t going to be enough to win over buyers. Instead, you need to make the most of your or someone else’s writing skills as you add the listing details. Always remember that less is more when it comes to describing the product.
Also, honesty is going to go far with potential customers. If there is an almost unnoticeable flaw in the item, let potential buyers know. This increases your reputation as a reputable seller and decreases the risk of complaints later on. Make sure to avoid anything “cute” or “funny” in your listing details – these never work as well as amateur sellers think they will.
#4 – Adding Clear & Accurate Pictures
A picture is worth a thousand words or in the case of the top 10 eBay secrets it’s worth as much three times the price you would receive without a picture. As both a seller and a buyer, it seems eBayers have a mistrust of any listing that does not include photos. And stock photos provided by the site don’t count. Buyers want to see what their buying. Now you don’t have to include a dozen shots from every angle but one to two good shots should do the trick.
#3 – Setting Reasonable Shipping Rates
A big problem with some listings is that sellers charge next to nothing for the item being sold in order to attract potential buyers then nail them with outrageous and grossly inflated shipping charges. Although eBay does have rules about this, many sellers are guilty. Don’t be one of them. You’ll earn a lot more money by establishing reasonable rates (always do your homework first, of course) and making sure your shipping policy is clearly stated in the listing for each of your products.
#2 – Offering a 30 Day Money Back Guarantee
One of the biggest deterrents to bidders is risk. They don’t know you or what you’re selling beyond what they see in your listing so that makes them nervous. To overcome that nervousness, you can offer a money back guarantee.
While you could choose a lower or a longer time for the guarantee, 30 days is fairly standard and is what most people expect. Don’t worry though – as long as you’ve written an accurate description of the product you should have no trouble keeping your return rate very low. And if there are problems, most buyers will let you know immediately.
#1 – Offering a 12 Month Warranty
For big ticket items, you might need more than just a 30 day money back guarantee to lure in customers. In those cases, you could offer a warranty for up to 12 months. Make sure you are serious about upholding your end of the warranty because this will be a binding contract connecting you to the buyer for a full year. Make sure to clearly spell out what the warranty covers and what you will do to rectify the problems under the warranty.
For more secrets on How to Sell on eBay make sure you check out my reviews of the Top How to Sell on eBay tutorials.
Wishing You Great Success,