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An Introduction To eBay Consignment


After I started selling on eBay, I was approached by friends without computers who wanted me to sell their items for them. They had heard stories about the outrageous prices items some eBay auctions brought. They knew I could get more money for them on eBay than they could get selling the items themselves. An added incentive to them was I did all the work. All they had to do is say "I don't want this anymore, sell it for me;" and within a few weeks I converted their castoffs into cash.

I was already selling on eBay, and I had developed a system for listing and dealing with sales that allowed me to list lots of items in a short time. The chance to make a few dollars without any investment was too much to pass up. I made some good money doing this and because I didn't have to tie up my money buying inventory I was able to use it to grow my train business.

Consignment Selling Is The Perfect Way To Start Your Own eBay Business.

There are no set up fees or investments. You won't need to risk your own money buying items to resell. You don't need a detailed knowledge of antiques and collectibles. You only need to know how to find the right category, write an adequate description and take some high quality photos.

Selling on consignment allows you to learn about antiques and collectibles without risking your own money. By selling other people's items you learn the value of items in the most practical way. By handling them and selling them. No matter how many price guides you read, and antique shows you attend, you will never get the feel for items until you sell them.

When you sell on consignment, you provide a service that makes your clients additional money. When most people sell something, they sell to a dealer who needs to mark up the item to make a profit. This is not what happens on eBay.

On eBay the END USER is the buyer and will always pay more than a dealer would. Even after paying a consignment fee, the seller makes more money.

This is the true benefit of eBay consignment selling. Finding the END USER. Before eBay this was a difficult and daunting process. With eBay, a simple listing placed in the correct category, with a good description and some high quality photos, is enough to get a few END USERS to fight over the item.

Things You Need To Succeed With Consignment Sales:

1. You need to take possession of the items. When you sell items on consignment you risk your eBay name and reputation. You take these risks when you sell your own items, but you are in complete control of your actions. In order to lower your risks you need to get complete control of the items you are going to be selling. This prevents sellers from changing their minds, and allows you to ship the items as soon as you receive payment.

2. You should always have a written contract. One of my friends was sued by a consignor who felt the commission was too high. The consignor agreed to pay 20 percent of the selling price, then when the item sold for $8500, got upset about paying $1700 to someone for doing 30 minutes of work. While my friend won in court, it would never have gotten to court if he had a written contract.

3. You'll also need to perfect ways to get items. At first your friends and co-workers will provide you with a good stream of salable items. After a while this stream will dwindle and you will need to go out and find consignors. This is not as difficult as it may seem. Remember, by consigning with you, the seller gets more money than they would otherwise.

Terry Gibbs is a collector/dealer of old toys and trains, and teaches others how to buy and sell antiques and collectibles. Gibbs is the author of two best selling eBay books "The Auction Revolution," and "The Complete Guide To eBay Consignment Sales." He has also written numerous other books about buying and selling antiques and collectibles. Learn more at his website: http://www.news.iwantcollectibles.com

http://www.iwantcollectibles.com/consign5.html

Copyright 2005 IWantCollectibles LLC used with permission.


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Senate C-Band Auction Bill ‘Final’ Version Introduced  Multichannel News

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Five-Year Note Auction Attracts Below Average Demand  Nasdaq

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Mustang From Famed ‘Bullitt’ Car Chase Heads to Auction  The New York Times

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Sotheby's Auctions Impressionist Paintings Recovered From Nazi Looting; Watercolors by JFK Also Go to Auction  Hyperallergic

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Vintage Ford Bronco sells for $650,000 at auction for Alzheimer’s Association  KTVI Fox 2 St. Louis

Heritage Charity Auction Settles with EEOC in Employment Discrimination Suit - The National Law Review
Heritage Charity Auction Settles with EEOC in Employment Discrimination Suit  The National Law Review

Hidalgo County to hold surplus auction in Mission - KGBT-TV
Hidalgo County to hold surplus auction in Mission  KGBT-TV

Auction At Closed Tampa Bike Shop May Signal Decline In Bicycling - Tampa, FL Patch
Auction At Closed Tampa Bike Shop May Signal Decline In Bicycling  Tampa, FL Patch

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From an Iconic Italian Racing Bike to a Revolutionary Harley: 4 Standout Motorcycles Star at the Mecum Auctions  Robb Report

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Ultra-Rare 1990 Mercedes-Benz 2.5-16 Evolution II in Pristine Condition Heads to Auction  HYPEBEAST

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EVE Online Player Bids $40,000 In Charity Auction For Rare Ship  Kotaku

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Paintings Made by JFK Among a Memorabilia Auction Asking $1.5 Million  Observer

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How to Buy a House at Auction  Motley Fool

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Variety of vintage race cars sell well in Arizona auctions  RACER

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2020 Chevrolet C8 Corvette Stingray Coupe sells for $3 million at Arizona auction  USA TODAY

Former California Gov. Jerry Brown surprised by auction of father's JFK letters | TheHill - The Hill
Former California Gov. Jerry Brown surprised by auction of father's JFK letters | TheHill  The Hill

Popular auction set for New Year's Day - News - Wilkes-Barre Citizens Voice
Popular auction set for New Year's Day - News  Wilkes-Barre Citizens Voice

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Latunski's home foreclosed, up for auction  WILX-TV

Sacramento Kings Launch League's First Live Blockchain-Powered Auction Platform for Authentic Memorabilia with Consensys and Treum | Sacramento Kings - Kings.com
Sacramento Kings Launch League's First Live Blockchain-Powered Auction Platform for Authentic Memorabilia with Consensys and Treum | Sacramento Kings  Kings.com

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