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eBay: Don't Believe All the Hype


Three billion dollars (that's billion with a "B") in revenues, 135 million users, millionaires all over the place at eBay! Yeah, eBaby!!!, to steal a line form another great author. (See "eBay: No Way? Yes Way (Ten Seller Themes) by Barbara Snyder M.A." at http://www.sbmag.org/howtoselloneBay.html)

Yeah! Wow! ? Make a million! Open a store on eBay and get rich! Man this is easy!!! -NOT!!!

It's way to easy to get caught up in all the hype out there about eBay and to start thinking all you have to do is set up an eBay store and you are on your way to the life style to which you would like to become accustomed. Don't believe it.

Before you start primping for your own segment of "Life-styles of the Rich and Famous," there are a few things you should learn about eBay and small business start-ups in general.

The rate of survival of a traditional small business reads something like half of all new business start-ups fail in the first year and half of the survivors do not survive the second year, and eBay is probably no different. In fact, it's not easy at all anymore (if it ever was) to carve out a fortune on what has been dubbed "the world's largest garage sale".

"But Floyd, take a look at all that money", you say. Sure eBay is doing just fine, but of that three billion dollars, how much of it is actually spent on items in "your" category or product line "you" have for sale?

Everyone has to decide exactly what business he or she wants to be in. Then they have to decide if they are going to be a niche player or try to carve out significant market share. Either way you decide to go, you may find out that the pool you are swimming in is not as deep as it may first appear. Unless you are selling automobiles or real estate, not all or even a large percentage of that three billion dollars is spent in your merchandise category. Make sure you check the water before you dive in head first.

When you do decide to jump in, make sure you are ready both financially and mentally to go through a learning curve of some months. Back in the earlier days this may not have been the case, but today eBay has become extremely competitive and significantly more expensive for sellers. And don't expect a lot of help from eBay directly. They are not the greatest company in the world at customer support. They have a lot of information available, but they also have a tendency to answer help questions with loads of boiler plate "fixes" that usually serve more to confuse then to actually help.

Speaking of fees, this is how eBay lives. They literally nickel and dime you to death (actually its more like quarter and dollar)? thirty cents for the cheapest insertion free, thirty-five cents for a gallery picture, a buck for "bolding" and on and on. And then there's the fair value selling commission and the PayPal fees (PayPal is a must have!). All these small fees add up fast. Don't forget, you pay the listing and insertion fees whether your item sells or not. You will quickly learn that your selling percentage becomes crucial and why it is so important you learn how to make very efficient listings at the lowest cost possible as fast as possible. If you fail to learn this, before for you know it, eBay is taking half or more of your total sales just in fees, not counting your cost of product and shipping.

eBay has been called the "world's largest garage sale" for good reason. You know what people are looking for at garage sales, cheap prices. In the beginning, if you were the only one on eBay selling a specific product, you could demand and get higher prices. Today it's a bit different. The competition is brutal. You are competing against people and business of all sizes, and there is always someone selling your product at very, very low prices, or worse yet, using it as a loss leader. Some of these people are huge jobbers and or the manufactures themselves, hard to compete against. Some sellers are part time or hobbyist and don't need or care if they make much money (and they probably don't). Unless you have a very unique product or are in a position where you can bring a new, hot product to eBay first, you must be prepared for extremely aggressive pricing competition in a market where the average buyer is looking for cheap beer prices on high quality champagne.

So, all said, you may be wondering if it's even worth the effort. That depends on you and how well you prepare.

Before you open your eBay Store or run out and buy a bunch of product, visit Strictly Business Magazine's "How to Sell on eBay Resource Center" at http://sbmag.org and read all the "free" articles. Then buy and read a series of books about eBay, there are a number of them listed there. Start out with a book on the basics and then the more advanced volumes.

After you have read up on the basics, set up a seller's account. Not a Store yet, that starts the meter running after the thirty day free trial. Not a lot of money, but why pay it until you have the necessary education you are going to need to be successful.

Once you have a basic education, experiment with a few items you have lying around the house you'd like to get rid of. This will give you the chance to experience the eBay process and give you an idea of what you are in for. Pick items that sell for under $10, this will give you the cheapest listing fees to experiment with. (A $9.99 item lists for half the price of a $10 item, same thing as $24.99 vs $25). Also make sure you pick items that are easy to ship. Check with the post office for shipping fees and packaging. If you use Express Mail, most of the shipping materials are free and in some cases will more then offset the higher postage fees and will get your product to your customer faster, resulting in better a Feedback Rating, something you will soon learn is very important in eBay.

As you're reading the books you have just bought, watch for important subjects such as Feedback Rating, shipping and handling, product selection, effective listings, taking and using photos and using hmtl in your listings. Also make note of other tips and ideas on keeping your listing professional but at the same time keeping the cost down. Other topics of importance include "keywords" and how they affect eBay search engines and auctions vs fixed price listings.

Don't be misled into believing that the buyers are clamoring all over themselves to bid up every item you offer up for sale. Go browse the listings in the category that you will be listing in. You may be surprised to see that most items don't have a single bid and will not sell at all and others have only a single bid. You may also want to find out what are the best days and time frames most successful auctions close.

The price you pay for a few books and the time it takes to read them and do a little research may be returned ten fold or more in just the first few months after opening your eBay store.

Floyd Snyder is the founder and former owner of Executive Advertising, Camera Ready Art and Strictly Business Magazine. Currently he is the owner of Strictly Business Magazine at http://www.sbmag.org, http://www.FrameHouseGallery.com, http://www.EducationResourcesNetwork.com/and http://www.TraderAide.com.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Tue. March / 19 / 2024

How Julien’s Auctions Leads the Booming Market in Celebrity Memorabilia - The New Yorker
How Julien’s Auctions Leads the Booming Market in Celebrity Memorabilia  The New Yorker

‘Sword of Truth’ Author Terry Goodkind’s Secluded Nevada Home and Writing Studio Head to Auction - Mansion Global
‘Sword of Truth’ Author Terry Goodkind’s Secluded Nevada Home and Writing Studio Head to Auction  Mansion Global

Kobe Bryant's 2000 NBA championship ring, originally gifted to his father, is for sale at auction - CBS Sports
Kobe Bryant's 2000 NBA championship ring, originally gifted to his father, is for sale at auction  CBS Sports

Kobe Bryant's Parents Face Backlash After Putting Championship Ring On The Auction Block - Yahoo Entertainment
Kobe Bryant's Parents Face Backlash After Putting Championship Ring On The Auction Block  Yahoo Entertainment

Kobe Bryant's LA Lakers NBA championship ring is up for auction - NBC Southern California
Kobe Bryant's LA Lakers NBA championship ring is up for auction  NBC Southern California

Delaware surplus auctions in March include boats, vehicles and tools - The News Journal
Delaware surplus auctions in March include boats, vehicles and tools  The News Journal

'Wizard of Oz' ruby slippers stolen by retired mobster to hit auction after recovery - Fox Business
'Wizard of Oz' ruby slippers stolen by retired mobster to hit auction after recovery  Fox Business

Jobs and Musk smash auction records ... and the auction isn't finished yet - New Atlas
Jobs and Musk smash auction records ... and the auction isn't finished yet  New Atlas

A Pinarello Dogma gifted to the pope by Egan Bernal is up for auction - Cyclingnews
A Pinarello Dogma gifted to the pope by Egan Bernal is up for auction  Cyclingnews

Apartment complex goes on auction block in Kinloch, Missouri - KSDK.com
Apartment complex goes on auction block in Kinloch, Missouri  KSDK.com

Another Cybertruck is at auction, bids past $150K with four days to go - Autoblog
Another Cybertruck is at auction, bids past $150K with four days to go  Autoblog

Norway's inaugural offshore wind auction continues Tuesday - Reuters
Norway's inaugural offshore wind auction continues Tuesday  Reuters

Weekly online auctions where you can buy and sell - ABC4.com
Weekly online auctions where you can buy and sell  ABC4.com

Tired of brackets? How to play NCAA Tournament survivor, Calcutta auctions and upset drafts - The Athletic
Tired of brackets? How to play NCAA Tournament survivor, Calcutta auctions and upset drafts  The Athletic

ACV auctions director Eileen Kamerick sells over $216k in company stock By Investing.com - Investing.com
ACV auctions director Eileen Kamerick sells over $216k in company stock By Investing.com  Investing.com

Arizona Game and Fish Votes to Ban Big Game Auction Tags - GearJunkie
Arizona Game and Fish Votes to Ban Big Game Auction Tags  GearJunkie

Planet Hollywood auction in Dallas to sell wood panel from "Titanic" - The Dallas Morning News
Planet Hollywood auction in Dallas to sell wood panel from "Titanic"  The Dallas Morning News

Judy Garland’s Recovered Ruby Slippers From ‘Wizard of Oz’ Going Up for Auction - Hollywood Reporter
Judy Garland’s Recovered Ruby Slippers From ‘Wizard of Oz’ Going Up for Auction  Hollywood Reporter

Bid Like A Champ, Kobe Bryant's First Lakers NBA Ring on Auction Block, Dazzles with Family Legacy! - Hoodline
Bid Like A Champ, Kobe Bryant's First Lakers NBA Ring on Auction Block, Dazzles with Family Legacy!  Hoodline

2024 Houston Rodeo sets new records for attendance, auction sales | khou.com - KHOU.com
2024 Houston Rodeo sets new records for attendance, auction sales | khou.com  KHOU.com

Mecum Auction sales top $54 million mark in Glendale | Glendale Independent - Daily Independent
Mecum Auction sales top $54 million mark in Glendale | Glendale Independent  Daily Independent

Ancient Coins Featured in Robinson Auction - Numismatic News
Ancient Coins Featured in Robinson Auction  Numismatic News

Return of "The Russell" highlighted by $2.25 million sale - Great Falls Tribune
Return of "The Russell" highlighted by $2.25 million sale  Great Falls Tribune

Owners of Shiba Inu Behind Dogwifhat Meme Auctions NFT on Ethereum - Yahoo Finance
Owners of Shiba Inu Behind Dogwifhat Meme Auctions NFT on Ethereum  Yahoo Finance

2024 fantasy baseball draft sheet: Downloadable auction values and stats for 650 players - The Athletic
2024 fantasy baseball draft sheet: Downloadable auction values and stats for 650 players  The Athletic

Downtown Hot Springs buildings head for auction block - talkbusiness.net
Downtown Hot Springs buildings head for auction block  talkbusiness.net

Roadmap for Consigning Property At Auction - Wealth Management
Roadmap for Consigning Property At Auction  Wealth Management

Auction Block: Can You Really Sell A Small Law Firm? - Above the Law
Auction Block: Can You Really Sell A Small Law Firm?  Above the Law

Antiques Roadshow alum Reyne Hirsch buys Dallas Auction Gallery - The Dallas Morning News
Antiques Roadshow alum Reyne Hirsch buys Dallas Auction Gallery  The Dallas Morning News

Kobe Bryant’s 2000 Championship Ring up for Auction - Sportico
Kobe Bryant’s 2000 Championship Ring up for Auction  Sportico

Independent Director Of ACV Auctions Sold 100% Of Their Shares - Simply Wall St
Independent Director Of ACV Auctions Sold 100% Of Their Shares  Simply Wall St

Sword of Truth’ Author Terry Goodkind’s Secluded Nevada Home and Writing Studio Head to Auction - Barron's
Sword of Truth’ Author Terry Goodkind’s Secluded Nevada Home and Writing Studio Head to Auction  Barron's

Norway Launches Its First Offshore Wind Auction | OilPrice.com - OilPrice.com
Norway Launches Its First Offshore Wind Auction | OilPrice.com  OilPrice.com

The Extensive Collection: Andrew Jones Auctions honors Fritz and Lucy Jewett's wide-ranging pieces - LA Downtown News Online
The Extensive Collection: Andrew Jones Auctions honors Fritz and Lucy Jewett's wide-ranging pieces  LA Downtown News Online

Neil Gaiman Auctions Memorabilia in Irving, Raises $1M for Nonprofits - Dallas Observer
Neil Gaiman Auctions Memorabilia in Irving, Raises $1M for Nonprofits  Dallas Observer

Monaco Car Auctions returns with L'Astarossa - the ultimate stable of prancing horses - Classic Driver
Monaco Car Auctions returns with L'Astarossa - the ultimate stable of prancing horses  Classic Driver

LA Lakers 2000 NBA championship ring Kobe Bryant gifted to his dad up for sale at 'Elite Sports Auction' - WLS-TV
LA Lakers 2000 NBA championship ring Kobe Bryant gifted to his dad up for sale at 'Elite Sports Auction'  WLS-TV

Over $48000 Raised at 2024 Dairy's Foundation Auction - WTAQ
Over $48000 Raised at 2024 Dairy's Foundation Auction  WTAQ

6 Massachusetts students face charges for allegedly holding mock slave auctions on Snapchat - CBS Boston
6 Massachusetts students face charges for allegedly holding mock slave auctions on Snapchat  CBS Boston

6X6 AUCTION | Calendar | decaturdailydemocrat.com - Decatur Daily Democrat
6X6 AUCTION | Calendar | decaturdailydemocrat.com  Decatur Daily Democrat

Houston Livestock Show and Rodeo's 2024 junior auctions end with $1M steer sale, barrow record set - The Business Journals
Houston Livestock Show and Rodeo's 2024 junior auctions end with $1M steer sale, barrow record set  The Business Journals

'Streetworkers' Leads Eldred's Women In The Arts Auction - Antiques and the Arts Online
'Streetworkers' Leads Eldred's Women In The Arts Auction  Antiques and the Arts Online

What should I know about … the DREAMS Auction? - Wahpeton Daily News
What should I know about … the DREAMS Auction?  Wahpeton Daily News

Clash During Auctions, Man Killed in Nandyal - Deccan Chronicle
Clash During Auctions, Man Killed in Nandyal  Deccan Chronicle

Stolen slippers worn by 'Wizard Of Oz' star Judy Garland, to be returned to be auctioned off - The Economic Times
Stolen slippers worn by 'Wizard Of Oz' star Judy Garland, to be returned to be auctioned off  The Economic Times

PawSox murals from McCoy Stadium sold at auction - WPRI.com
PawSox murals from McCoy Stadium sold at auction  WPRI.com

Japan's 19th solar auction concludes with average final price of $0.034/kWh - pv magazine International
Japan's 19th solar auction concludes with average final price of $0.034/kWh  pv magazine International

Canada joins German hydrogen import auction scheme H2Global, but funding details not yet disclosed - Hydrogen Insight
Canada joins German hydrogen import auction scheme H2Global, but funding details not yet disclosed  Hydrogen Insight

The Pope's Pinarello Dogma F12 is up for auction - Global Cycling Network
The Pope's Pinarello Dogma F12 is up for auction  Global Cycling Network

Kobe Bryant’s Parents Face Backlash After Putting Championship Ring On The Auction Block - Vibe
Kobe Bryant’s Parents Face Backlash After Putting Championship Ring On The Auction Block  Vibe

Mass. investigators pursue charges against six 8th graders who allegedly created an online mock slave auction - WBUR News
Mass. investigators pursue charges against six 8th graders who allegedly created an online mock slave auction  WBUR News

Neil Gaiman Heritage Auction Raises Over 1 Million - ICv2
Neil Gaiman Heritage Auction Raises Over 1 Million  ICv2

Focus on Women | Fine Books & Collections - Fine Books & Collections Magazine
Focus on Women | Fine Books & Collections  Fine Books & Collections Magazine

Indiana Waterways Paintings at Auction May 4; New Project Set for 2026 - Muncie Journal
Indiana Waterways Paintings at Auction May 4; New Project Set for 2026  Muncie Journal

Unitarian Universalists of Southern Delaware online auction fundraiser - Bay to Bay News
Unitarian Universalists of Southern Delaware online auction fundraiser  Bay to Bay News

'No Sales' Return to Farmland Auction Market, But Local Conditions Can Still Drive Strong Sales - DTN The Progressive Farmer
'No Sales' Return to Farmland Auction Market, But Local Conditions Can Still Drive Strong Sales  DTN The Progressive Farmer

Goodwill auctions 14-karat gold Lego piece for over $18,000 - UPI News
Goodwill auctions 14-karat gold Lego piece for over $18,000  UPI News

Greene County Ducks Unlimited Banquet and Auction is Saturday - Raccoon Valley Radio
Greene County Ducks Unlimited Banquet and Auction is Saturday  Raccoon Valley Radio

Roby Dwi Antono’s Wide-Eyed Characters Have Soared at Auctions. But Will Speculation Sink His Market? - artnet News
Roby Dwi Antono’s Wide-Eyed Characters Have Soared at Auctions. But Will Speculation Sink His Market?  artnet News

6 youths to be charged in Southwick racial bullying incident involving ‘mock slave auction' - NBC Boston
6 youths to be charged in Southwick racial bullying incident involving ‘mock slave auction'  NBC Boston

Kobe Bryant Had a 2000 NBA Championship Ring Made for His Father. Now It Could Be Yours. - Robb Report
Kobe Bryant Had a 2000 NBA Championship Ring Made for His Father. Now It Could Be Yours.  Robb Report

Quarter auction fundraiser set at MVVM - Miami Valley Today
Quarter auction fundraiser set at MVVM  Miami Valley Today

Sullivan schools to try once again to auction surplus properties - Bristol Herald Courier
Sullivan schools to try once again to auction surplus properties  Bristol Herald Courier

2024 March Madness Calcutta Auction Pool Strategy, Tips & Picks: Teams to Buy & Sell in the NCAA Tournament - The Action Network
2024 March Madness Calcutta Auction Pool Strategy, Tips & Picks: Teams to Buy & Sell in the NCAA Tournament  The Action Network

A Closer Look at Art Auction Houses - Wealth Management
A Closer Look at Art Auction Houses  Wealth Management

Washington State’s emissions allowance program held its first auctions in 2023 - U.S. Energy Information Administration - EIA
Washington State’s emissions allowance program held its first auctions in 2023 - U.S. Energy Information Administration  EIA

Mayor Parker is now working with Sheriff Bilal to resume auctions of tax-delinquent properties - The Philadelphia Inquirer
Mayor Parker is now working with Sheriff Bilal to resume auctions of tax-delinquent properties  The Philadelphia Inquirer

6 Students Charged For Racist Online Bullying, Mock Slave Auction - Chicago Defender
6 Students Charged For Racist Online Bullying, Mock Slave Auction  Chicago Defender

French Royal Menus, Darwin Presentation Copy, Christina Rossetti Letters: Auction Preview - Fine Books & Collections Magazine
French Royal Menus, Darwin Presentation Copy, Christina Rossetti Letters: Auction Preview  Fine Books & Collections Magazine

6 Massachusetts teens charged in racial bullying incident with mock slave auction on Snapchat - NBC News
6 Massachusetts teens charged in racial bullying incident with mock slave auction on Snapchat  NBC News

Vietnam 5G Spectrum Auction: Telecom Companies Bid for Licenses - Vietnam Briefing
Vietnam 5G Spectrum Auction: Telecom Companies Bid for Licenses  Vietnam Briefing

Pattie Boyd, often in the shadow of her famous husbands, has put a trove of mementos up for auction - PBS NewsHour
Pattie Boyd, often in the shadow of her famous husbands, has put a trove of mementos up for auction  PBS NewsHour

Antiques Roadshow alum buys Dallas Auction Gallery with bid on new generation - MSN
Antiques Roadshow alum buys Dallas Auction Gallery with bid on new generation  MSN

Albemarle Plans to Auction Lithium With Aim of 'Fair' Price - Yahoo Finance
Albemarle Plans to Auction Lithium With Aim of 'Fair' Price  Yahoo Finance

Benefit Auction Draws Hundreds | News, Sports, Jobs - The Inter-Mountain
Benefit Auction Draws Hundreds | News, Sports, Jobs  The Inter-Mountain

Rockford IceHogs hold live jersey auction benefitting community fund - WIFR
Rockford IceHogs hold live jersey auction benefitting community fund  WIFR

The rarest US stamp is going up for auction. It’s expected to sell for millions - CNN
The rarest US stamp is going up for auction. It’s expected to sell for millions  CNN

State-run auction scheme could incentivise CCS in Norway: report - Quantum Commodity Intelligence
State-run auction scheme could incentivise CCS in Norway: report  Quantum Commodity Intelligence

Original Apple iPhone 4GB from 2007 auctions for huge price - Quartz
Original Apple iPhone 4GB from 2007 auctions for huge price  Quartz

Furry Friends hosts ‘Meow or Never’ auction fundraiser - The Reflector
Furry Friends hosts ‘Meow or Never’ auction fundraiser  The Reflector

iHeart Dayton "Bid on Dayton" Auction! - iHeart
iHeart Dayton "Bid on Dayton" Auction!  iHeart

Art auction in Cape Girardeau - KFVS
Art auction in Cape Girardeau  KFVS

Free Arts NYC: Silent Benefit Auction 2024 - Artsy
Free Arts NYC: Silent Benefit Auction 2024  Artsy

San Diego to auction off nearly 400 defaulted properties - CBS News 8
San Diego to auction off nearly 400 defaulted properties  CBS News 8

Grand champion steer ties for $1 million record at rodeo auction - Houston Chronicle
Grand champion steer ties for $1 million record at rodeo auction  Houston Chronicle

‘Vile’: 6 Massachusetts eighth graders charged for setting up ‘mock slave auction’ on Snapchat - Boston 25 News
‘Vile’: 6 Massachusetts eighth graders charged for setting up ‘mock slave auction’ on Snapchat  Boston 25 News

Neil Gaiman on the collectibles he's auctioning in Dallas - WFAA.com
Neil Gaiman on the collectibles he's auctioning in Dallas  WFAA.com

Memecoin Dogwifhat Photo Sells for $4.3M in NFT Auction - DailyCoin
Memecoin Dogwifhat Photo Sells for $4.3M in NFT Auction  DailyCoin

Elizabethtown to hold sealed bid auction for former borough garage - LNP | LancasterOnline
Elizabethtown to hold sealed bid auction for former borough garage  LNP | LancasterOnline

PrecisionHawk Bankruptcy auction – sUAS News – The Business of Drones - sUAS News
PrecisionHawk Bankruptcy auction – sUAS News – The Business of Drones  sUAS News

Spring for Amish people in Pennsylvania means 'mud sales,' from pitchforks to pies - The Associated Press
Spring for Amish people in Pennsylvania means 'mud sales,' from pitchforks to pies  The Associated Press

Exclusive: Weak bids in Citgo auction spurs Venezuela to pitch alternative pay plan - Reuters
Exclusive: Weak bids in Citgo auction spurs Venezuela to pitch alternative pay plan  Reuters

Judy Garland’s Ruby Slippers From The Wizard of Oz Stolen, Recovered, And Set For Auction - Times Now
Judy Garland’s Ruby Slippers From The Wizard of Oz Stolen, Recovered, And Set For Auction  Times Now

Iconic Photo of Dogwifhat Meme Coin Nets $4.3M in NFT Auction - Coinspeaker
Iconic Photo of Dogwifhat Meme Coin Nets $4.3M in NFT Auction  Coinspeaker

Elvis Presley's Cadillac, the Batmobile and the most expensive car sold at 2024 Mecum auction - The Arizona Republic
Elvis Presley's Cadillac, the Batmobile and the most expensive car sold at 2024 Mecum auction  The Arizona Republic

Bike gifted to the Pope by Egan Bernal goes up for auction - CyclingWeekly
Bike gifted to the Pope by Egan Bernal goes up for auction  CyclingWeekly

Massachusetts Teens Charged for Creating Racist Mock Slave Auction on Snapchat - Complex
Massachusetts Teens Charged for Creating Racist Mock Slave Auction on Snapchat  Complex

Rockford Icehogs hold live jersey auction benefitting their community fund - WIFR
Rockford Icehogs hold live jersey auction benefitting their community fund  WIFR

Neil Gaiman's Dallas auction of art and collectibles raises $1M - WFAA.com
Neil Gaiman's Dallas auction of art and collectibles raises $1M  WFAA.com

DA charges 6 Southwick 8th graders for conducting online ‘slave auction’ - MassLive.com
DA charges 6 Southwick 8th graders for conducting online ‘slave auction’  MassLive.com

Steer Grand Champion ties Houston Rodeo's auction record - KHOU.com
Steer Grand Champion ties Houston Rodeo's auction record  KHOU.com

Auction vs. Raffle Tags: Should States Stop Selling Big-Game Tags to the Highest Bidder? - Outdoor Life
Auction vs. Raffle Tags: Should States Stop Selling Big-Game Tags to the Highest Bidder?  Outdoor Life

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