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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.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Sat. December / 14 / 2019

Brazil delays two key rail project auctions for third quarter 2020 - Reuters
Brazil delays two key rail project auctions for third quarter 2020  Reuters

Babe Ruth's 500th home run bat is expected to fetch more than $1 million at auction - CNBC
Babe Ruth's 500th home run bat is expected to fetch more than $1 million at auction  CNBC

Chamber auctions decorated trees | Heraldrepublican - KPCnews.com
Chamber auctions decorated trees | Heraldrepublican  KPCnews.com

Big Oil’s Wishlist: The Hottest Oil Auctions In 2020 - Yahoo Finance
Big Oil’s Wishlist: The Hottest Oil Auctions In 2020  Yahoo Finance

Tips and Traps When Buying a Used Car at Auction - NerdWallet
Tips and Traps When Buying a Used Car at Auction  NerdWallet

Artifacts from St. Louis World’s Fair going up for auction - KTVI Fox 2 St. Louis
Artifacts from St. Louis World’s Fair going up for auction  KTVI Fox 2 St. Louis

The Largest Private Whisky Collection To Go Up For Auction Could Be Worth $10 Million - Forbes
The Largest Private Whisky Collection To Go Up For Auction Could Be Worth $10 Million  Forbes

Millimeter Wave Spectrum Auction Blasts Past $1.5B, Shows No Signs of Cooling - Light Reading
Millimeter Wave Spectrum Auction Blasts Past $1.5B, Shows No Signs of Cooling  Light Reading

Christie’s Latest Auction Sold $6 Million Worth of Rare Watches From Rolex, Patek Philippe and More - Robb Report
Christie’s Latest Auction Sold $6 Million Worth of Rare Watches From Rolex, Patek Philippe and More  Robb Report

Cars, bikes and other government cast-offs up for auction in Salt Lake City - KUTV 2News
Cars, bikes and other government cast-offs up for auction in Salt Lake City  KUTV 2News

Boats, buses and boxes of evidence: Utah cities auction off odds and ends, 400-plus vehicles - KSL.com
Boats, buses and boxes of evidence: Utah cities auction off odds and ends, 400-plus vehicles  KSL.com

Serena Williams' smashed US Open racket auctions for nearly $21G -- after ball boy sold it for $500 - Fox News
Serena Williams' smashed US Open racket auctions for nearly $21G -- after ball boy sold it for $500  Fox News

Longtime York restaurant headed for auction block in 2020 - York Daily Record
Longtime York restaurant headed for auction block in 2020  York Daily Record

Local auctioneer Bill Baker retiring after 42 years - The News-Messenger
Local auctioneer Bill Baker retiring after 42 years  The News-Messenger

Houlton Rotary Auction raises $56000 for local projects - The County
Houlton Rotary Auction raises $56000 for local projects  The County

Arsenal golf clubhouse contents will be liquidated in online auction; Army can't find private operator - Quad City Times
Arsenal golf clubhouse contents will be liquidated in online auction; Army can't find private operator  Quad City Times

Local News: Restaurant equipment to be sold at auction (12/14/19) - Southeast Missourian
Local News: Restaurant equipment to be sold at auction (12/14/19)  Southeast Missourian

For Auctions, It’s ‘No Froth,’ but ‘Steady.’ That’s the New Normal. - The New York Times
For Auctions, It’s ‘No Froth,’ but ‘Steady.’ That’s the New Normal.  The New York Times

Auction calendar: December 13, 2019 - Wisconsin State Farmer
Auction calendar: December 13, 2019  Wisconsin State Farmer

Muscle-car specialist Mecum beats top auction houses to Steve McQueen's 'Bullitt' car - San Francisco Chronicle
Muscle-car specialist Mecum beats top auction houses to Steve McQueen's 'Bullitt' car  San Francisco Chronicle

A 1937 Mercedes-Benz 540K, Kept in the Same Family for 50 Years, Heads to Auction - Barron's
A 1937 Mercedes-Benz 540K, Kept in the Same Family for 50 Years, Heads to Auction  Barron's

Sanborn Classic Car Dealer Taking Cars To Sell At Barrett-Jackson Auction In Scottsdale - KIWARadio.com
Sanborn Classic Car Dealer Taking Cars To Sell At Barrett-Jackson Auction In Scottsdale  KIWARadio.com

Auction 103 concludes second round with $715M in bids - FierceWireless
Auction 103 concludes second round with $715M in bids  FierceWireless

A flurry of auctions in Munster sets the scene for Christmas - Irish Examiner
A flurry of auctions in Munster sets the scene for Christmas  Irish Examiner

Marshalltown auction sheds light on 500 antique lamps - KCCI Des Moines
Marshalltown auction sheds light on 500 antique lamps  KCCI Des Moines

Princess Diana's 'Travolta dress' sells for $290G after auction flop - Fox News
Princess Diana's 'Travolta dress' sells for $290G after auction flop  Fox News

Financially struggling Pheasant Run Resort on auction block - Kane County Chronicle
Financially struggling Pheasant Run Resort on auction block  Kane County Chronicle

Mercedes-Benz classics to appear at car auction run by Sotheby's - USA TODAY
Mercedes-Benz classics to appear at car auction run by Sotheby's  USA TODAY

Kylie Jenner Performs 'Rise and Shine' at Justin Bieber and Hailey Baldwin's Auction in L.A. - PEOPLE.com
Kylie Jenner Performs 'Rise and Shine' at Justin Bieber and Hailey Baldwin's Auction in L.A.  PEOPLE.com

Bid on unique experiences for fans of every team - MLB.com
Bid on unique experiences for fans of every team  MLB.com

Brazilian Government Plans to Auction 44 Infrastructure Assets in 2020 - The Rio Times
Brazilian Government Plans to Auction 44 Infrastructure Assets in 2020  The Rio Times

Superman’s cape and Bilbo’s pipe up for grabs in Hollywood auction - Raw Story
Superman’s cape and Bilbo’s pipe up for grabs in Hollywood auction  Raw Story

Real estate pro shares insights on West Ridge Mall foreclosure auction - The Topeka Capital-Journal
Real estate pro shares insights on West Ridge Mall foreclosure auction  The Topeka Capital-Journal

Oil companies press Mexican president to resume suspended auctions - Reuters
Oil companies press Mexican president to resume suspended auctions  Reuters

John Lennon's sunglasses sell at auction for almost $200,000 - DW (English)
John Lennon's sunglasses sell at auction for almost $200,000  DW (English)

Princess Diana's Famous 'John Travolta Dress' Fails to Sell at Auction - PEOPLE.com
Princess Diana's Famous 'John Travolta Dress' Fails to Sell at Auction  PEOPLE.com

Jack Nicklaus' gold Rolex watch sells for $1 million at auction - CNBC
Jack Nicklaus' gold Rolex watch sells for $1 million at auction  CNBC

Auctions are not always fun and games | Agri News - PostBulletin.com
Auctions are not always fun and games | Agri News  PostBulletin.com

The 9 most expensive Disneyland items sold at auction featuring 1,500 theme park collectibles - OCRegister
The 9 most expensive Disneyland items sold at auction featuring 1,500 theme park collectibles  OCRegister

'Art Over Easy' to feature live music, VIP reception, and auctions - SIU News
'Art Over Easy' to feature live music, VIP reception, and auctions  SIU News

mmWave auction bids reach $1.4 billion - RCR Wireless News
mmWave auction bids reach $1.4 billion  RCR Wireless News

Phillips’ New York Game Changers Auction Sets Records With Over $20 Million in Sales - Barron's
Phillips’ New York Game Changers Auction Sets Records With Over $20 Million in Sales  Barron's

Sicilian Homes Went Up for Auction Starting at €1. More Than 100000 People Called. - The Wall Street Journal
Sicilian Homes Went Up for Auction Starting at €1. More Than 100000 People Called.  The Wall Street Journal

A Ford GT and Ferrari Testarossa Lead RM Sotheby’s First Online-Only Auction - Robb Report
A Ford GT and Ferrari Testarossa Lead RM Sotheby’s First Online-Only Auction  Robb Report

Massive Scotch whisky collection could fetch $10.5 million at auction - ABC News
Massive Scotch whisky collection could fetch $10.5 million at auction  ABC News

Rare Nazi ‘Enigma’ Code Machine May Fetch $100,000 at Auction - Bloomberg
Rare Nazi ‘Enigma’ Code Machine May Fetch $100,000 at Auction  Bloomberg

Kalamazoo’s old candy cane decorations fetch thousands at auction - mlive.com
Kalamazoo’s old candy cane decorations fetch thousands at auction  mlive.com

History up for sale at Limpert Bros. liquidation auction set for Saturday - The Daily Journal
History up for sale at Limpert Bros. liquidation auction set for Saturday  The Daily Journal

Senate Commerce Committee OKs C-band auction bill - FierceWireless
Senate Commerce Committee OKs C-band auction bill  FierceWireless

Serena Williams' smashed racket auctions for $20k after ball boy sold it for $500 - Face2Face Africa
Serena Williams' smashed racket auctions for $20k after ball boy sold it for $500  Face2Face Africa

Rocky start for inaugural hemp auction, but more events are planned Hemp biomass auction off to a rocky start with more events soon - Hemp Industry Daily
Rocky start for inaugural hemp auction, but more events are planned Hemp biomass auction off to a rocky start with more events soon  Hemp Industry Daily

Graves auction has no winner - Sun Community News & Printing - Sun Community News
Graves auction has no winner - Sun Community News & Printing  Sun Community News

DNR to auction public land in 'prime locations' throughout Michigan - MLive.com
DNR to auction public land in 'prime locations' throughout Michigan  MLive.com

General Hospital Recap: Ava Announces An Auction for Helena's Portrait - Soaps.com
General Hospital Recap: Ava Announces An Auction for Helena's Portrait  Soaps.com

Stack's Bowers December Collectors Choice, Precious Metals Auctions Close This Week - CoinWeek
Stack's Bowers December Collectors Choice, Precious Metals Auctions Close This Week  CoinWeek

Leonardo DiCaprio’s Andy Warhol Drawing Fetched $140,000 at Charity Auction - Observer
Leonardo DiCaprio’s Andy Warhol Drawing Fetched $140,000 at Charity Auction  Observer

Meghan Markle's 'Deal or No Deal' Briefcase Up For Auction - KMOX
Meghan Markle's 'Deal or No Deal' Briefcase Up For Auction  KMOX

'Grease' jacket regifted to singer Olivia Newton-John after auction - AOL
'Grease' jacket regifted to singer Olivia Newton-John after auction  AOL

A Minor Change Freeze for FM Auction 106 - Radio & Television Business Report
A Minor Change Freeze for FM Auction 106  Radio & Television Business Report

"The Perfect Collection" of Whisky Is Up For Auction, and It's Going To Break a Record - InsideHook
"The Perfect Collection" of Whisky Is Up For Auction, and It's Going To Break a Record  InsideHook

Hitler's top hat up for auction in Germany - Reuters
Hitler's top hat up for auction in Germany  Reuters

Bennett's Premiere Auctions Group Brings the Inaugural Auction of the David L Root Ancient Indian Artifact Collection to Global Bidders via Proxibid - Associated Press
Bennett's Premiere Auctions Group Brings the Inaugural Auction of the David L Root Ancient Indian Artifact Collection to Global Bidders via Proxibid  Associated Press

Pristine Copy Of First Marvel Comics Issue Auctions For $1.26 Million - DOGOnews
Pristine Copy Of First Marvel Comics Issue Auctions For $1.26 Million  DOGOnews

This Beautifully Restored 1948 ‘Woodie’ Station Wagon Is Heading to Auction Next Month - Robb Report
This Beautifully Restored 1948 ‘Woodie’ Station Wagon Is Heading to Auction Next Month  Robb Report

Meghan Markle's 'Deal or No Deal' briefcase is now up for auction - Fox News
Meghan Markle's 'Deal or No Deal' briefcase is now up for auction  Fox News

3 Auctions Rule Digital Advertising. Here's A Guide To Navigating Them - AdExchanger
3 Auctions Rule Digital Advertising. Here's A Guide To Navigating Them  AdExchanger

Artist Cassi Namoda Shares Her Favorite Artworks From Our California Cool Auction - artnet News
Artist Cassi Namoda Shares Her Favorite Artworks From Our California Cool Auction  artnet News

Big Rapids hotel up for auction, bids up to $4.25M - MLive.com
Big Rapids hotel up for auction, bids up to $4.25M  MLive.com

2019 Little Yellow Dog auction to be held Saturday - Sioux City Journal
2019 Little Yellow Dog auction to be held Saturday  Sioux City Journal

Photos The 20 biggest Bring a Trailer auction sales of 2019 The 20 biggest online auction - msnNOW
Photos The 20 biggest Bring a Trailer auction sales of 2019 The 20 biggest online auction  msnNOW

Tiegs prevails over Simplot in auction for NORPAC facility - Capital Press
Tiegs prevails over Simplot in auction for NORPAC facility  Capital Press

AuctionTime & WMS Auctions to Host Open House in Upper Sandusky, Ohio, for Farmers & Equipment Dealers - PRNewswire
AuctionTime & WMS Auctions to Host Open House in Upper Sandusky, Ohio, for Farmers & Equipment Dealers  PRNewswire

Gavel will drop one last time at Suess Auctions - PostBulletin.com
Gavel will drop one last time at Suess Auctions  PostBulletin.com

Oil companies swap stakes in Mexico as government holds off on auctions - Reuters
Oil companies swap stakes in Mexico as government holds off on auctions  Reuters

Do I hear $1,000? Auction of Hahnemann University Hospital equipment begins - Philadelphia Business Journal
Do I hear $1,000? Auction of Hahnemann University Hospital equipment begins  Philadelphia Business Journal

Buyer returns Grease jacket to Olivia Newton-John after auction - BBC News
Buyer returns Grease jacket to Olivia Newton-John after auction  BBC News

Farmland Auctions: A Wild Day in Southeast South Dakota - Successful Farming
Farmland Auctions: A Wild Day in Southeast South Dakota  Successful Farming

Westminster annexing former Livestock Auction, site planned for 40 workforce housing units - Baltimore Sun
Westminster annexing former Livestock Auction, site planned for 40 workforce housing units  Baltimore Sun

Michigan to auction 150 parcels of public land - The Detroit News
Michigan to auction 150 parcels of public land  The Detroit News

Editors' Picks: Four Lots To Watch At The Upcoming Hong Kong Auctions - HODINKEE
Editors' Picks: Four Lots To Watch At The Upcoming Hong Kong Auctions  HODINKEE

Auction for 'world's fastest UPS truck' canceled after UPS shows title - Business Insider
Auction for 'world's fastest UPS truck' canceled after UPS shows title  Business Insider

Michigan DNR to auction off 147 parcels of public land - Detroit Free Press
Michigan DNR to auction off 147 parcels of public land  Detroit Free Press

Estate in Preston Hollow goes to auction with no reserve - The Dallas Morning News
Estate in Preston Hollow goes to auction with no reserve  The Dallas Morning News

Treasury yields rise slightly as investors monitor US-China trade - CNBC
Treasury yields rise slightly as investors monitor US-China trade  CNBC

Auction benefits Centre's glass program, honors its founder - LEX18 Lexington KY News
Auction benefits Centre's glass program, honors its founder  LEX18 Lexington KY News

Drug Task Force auction canceled for Black Friday, according to DA's office - York Daily Record
Drug Task Force auction canceled for Black Friday, according to DA's office  York Daily Record

From posters to helmets, Star Wars collectibles up for auction - Reuters
From posters to helmets, Star Wars collectibles up for auction  Reuters

WIHA Holiday Auction ‘A Celebration of Sprinklers’ - Winthrop Transcript
WIHA Holiday Auction ‘A Celebration of Sprinklers’  Winthrop Transcript

Bike auction coming in La Crosse due to surplus - News8000.com - WKBT
Bike auction coming in La Crosse due to surplus  News8000.com - WKBT

Fate of beloved East Side grocer to be determined at auction - Madison.com
Fate of beloved East Side grocer to be determined at auction  Madison.com

Looking For Property? DNR Public Land Auction Starts Tuesday - WWJ Newsradio 950
Looking For Property? DNR Public Land Auction Starts Tuesday  WWJ Newsradio 950

The 9 Most Expensive Disneyland Items Recently Sold at Auction - Inside the Magic
The 9 Most Expensive Disneyland Items Recently Sold at Auction  Inside the Magic

Saudi Aramco Shares Climb 10% in Pre-Market Auction - Bloomberg
Saudi Aramco Shares Climb 10% in Pre-Market Auction  Bloomberg

News Looking for land? DNR public land auction begins Tuesday 11:46 AM, Dec 05, 2019 - WXYZ
News Looking for land? DNR public land auction begins Tuesday 11:46 AM, Dec 05, 2019  WXYZ

Fine bourbon auction set for Win Place & Show in midtown Ruidoso - Ruidoso News
Fine bourbon auction set for Win Place & Show in midtown Ruidoso  Ruidoso News

Royal Treasures from Queen Elizabeth's Aunt and Uncle Head to the Auction Block - TownandCountrymag.com
Royal Treasures from Queen Elizabeth's Aunt and Uncle Head to the Auction Block  TownandCountrymag.com

SEVEN Concours, Powered by Silverstone Auctions, Brings the Riyadh Car Show Auction 2019 to Global Bidders via Proxibid - Associated Press
SEVEN Concours, Powered by Silverstone Auctions, Brings the Riyadh Car Show Auction 2019 to Global Bidders via Proxibid  Associated Press

10 most expensive Disneyland items in an auction featuring 1,500 theme park collectibles - The Mercury News
10 most expensive Disneyland items in an auction featuring 1,500 theme park collectibles  The Mercury News

Children's Auction money already at work | Local News - The Laconia Daily Sun
Children's Auction money already at work | Local News  The Laconia Daily Sun

Freaks Action Network Announces 2019 Holiday Jam Silent Auction & Raffle - JamBase
Freaks Action Network Announces 2019 Holiday Jam Silent Auction & Raffle  JamBase

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