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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 Thu. April / 22 / 2021

Germany expands capacity in wind, solar power auctions - Reuters
Germany expands capacity in wind, solar power auctions  Reuters

Love’s Bakery auctions off bread, vintage shirts - KHON2
Love’s Bakery auctions off bread, vintage shirts  KHON2

Auctions delayed for potential Samsung plant sites in Arizona - Austin Business Journal - Austin Business Journal
Auctions delayed for potential Samsung plant sites in Arizona - Austin Business Journal  Austin Business Journal

Surplus Bank Auctions Set for Public Inspections Fri. April 23 - The Morning Journal
Surplus Bank Auctions Set for Public Inspections Fri. April 23  The Morning Journal

Prototype of first US dollar coins going up for auction - Southwest Virginia Today
Prototype of first US dollar coins going up for auction  Southwest Virginia Today

City of Roanoke auctions properties in bi-annual tax sale - WDBJ7
City of Roanoke auctions properties in bi-annual tax sale  WDBJ7

Small-town South Dakota rodeo club cancels 'slave auction' after outpouring of anger on social media - Duluth News Tribune
Small-town South Dakota rodeo club cancels 'slave auction' after outpouring of anger on social media  Duluth News Tribune

Yoshitomo Nara’s ‘Missing in Action’ From 2000 Heads to Auction - Barron's
Yoshitomo Nara’s ‘Missing in Action’ From 2000 Heads to Auction  Barron's

ACV Auctions co-founder Joseph Neiman talks about why he moved to Florida - Buffalo Business First - Buffalo Business First
ACV Auctions co-founder Joseph Neiman talks about why he moved to Florida - Buffalo Business First  Buffalo Business First

Faith High School Rodeo Club's 'slave auction' canceled due to controversy - Argus Leader
Faith High School Rodeo Club's 'slave auction' canceled due to controversy  Argus Leader

Auctions: Hands-On With The Ultra-Rare Patek Philippe Ref. 2523 'Eurasia Dial' Hitting The Block At Phillips - HODINKEE
Auctions: Hands-On With The Ultra-Rare Patek Philippe Ref. 2523 'Eurasia Dial' Hitting The Block At Phillips  HODINKEE

UPDATE: Faith HS Rodeo Club's 'slave auction' canceled due to controversy - Rapid City Journal
UPDATE: Faith HS Rodeo Club's 'slave auction' canceled due to controversy  Rapid City Journal

Auction Sales Top $39 Million Last Week on HiBid.com, with Rare Coins and Classic Cars Now Up for Bidding - PRNewswire
Auction Sales Top $39 Million Last Week on HiBid.com, with Rare Coins and Classic Cars Now Up for Bidding  PRNewswire

Love’s Bakery auction includes vintage aloha shirts, signs - West Hawaii Today
Love’s Bakery auction includes vintage aloha shirts, signs  West Hawaii Today

Local realtor starts auction business - The Herald
Local realtor starts auction business  The Herald

Toledo police are holding online vehicle auction - Toledo Blade
Toledo police are holding online vehicle auction  Toledo Blade

Chinese rarity hits auction block in May Macau auction - Coin World
Chinese rarity hits auction block in May Macau auction  Coin World

Cresting Flood of U.S. Treasury Supply May End Auction Woes - Bloomberg
Cresting Flood of U.S. Treasury Supply May End Auction Woes  Bloomberg

Bidding open for City of Moorhead online auction - Valley News Live
Bidding open for City of Moorhead online auction  Valley News Live

Gold Participation Medal of Utmost Rarity From 1912 Highlights Olympic Auction - Around the Rings
Gold Participation Medal of Utmost Rarity From 1912 Highlights Olympic Auction  Around the Rings

BidALot Coin Auction Named Latest WorthPoint® Data Partner - Johnson City Press (subscription)
BidALot Coin Auction Named Latest WorthPoint® Data Partner  Johnson City Press (subscription)

Danish carriers secure additional 5G spectrum in latest auction - RCR Wireless News
Danish carriers secure additional 5G spectrum in latest auction  RCR Wireless News

RPS hosts Relay for Life auction - PostBulletin.com
RPS hosts Relay for Life auction  PostBulletin.com

Four Rare Ferraris Hitting the Auction Block This Summer - Autoweek
Four Rare Ferraris Hitting the Auction Block This Summer  Autoweek

Key Auction Looms for RBI as Traders Balk at India Yields - Bloomberg
Key Auction Looms for RBI as Traders Balk at India Yields  Bloomberg

Cates Auction Real Estate Company Named In Late Client's Will - PRNewswire
Cates Auction Real Estate Company Named In Late Client's Will  PRNewswire

Bidder Pleads Guilty to Rigging Bids at Online Auctions for Surplus Government Equipment - Department of Justice
Bidder Pleads Guilty to Rigging Bids at Online Auctions for Surplus Government Equipment  Department of Justice

Auction to benefit Bath cat rescue - Portland Press Herald - pressherald.com
Auction to benefit Bath cat rescue - Portland Press Herald  pressherald.com

Bonhams online auction acquisition, new Motoring Division chief - The ClassicCars.com Journal
Bonhams online auction acquisition, new Motoring Division chief  The ClassicCars.com Journal

Janet Jackson puts hundreds of personal items up for auction - Daily Mail
Janet Jackson puts hundreds of personal items up for auction  Daily Mail

A David Bowie-owned and -signed Takamine is up for auction - Guitar World
A David Bowie-owned and -signed Takamine is up for auction  Guitar World

Eddie Van Halen's 1934 Ford is red hot and up for auction - Fox News
Eddie Van Halen's 1934 Ford is red hot and up for auction  Fox News

Bitcoin Magazine's Art Director To Auction Guy Fawkes Painting For Bitcoin - Bitcoin Magazine
Bitcoin Magazine's Art Director To Auction Guy Fawkes Painting For Bitcoin  Bitcoin Magazine

Analysis: Big US Treasury auctions could restart rise in yields - Reuters
Analysis: Big US Treasury auctions could restart rise in yields  Reuters

Brazil slashes its own take in Atapu, Sepia subsalt auction - S&P Global
Brazil slashes its own take in Atapu, Sepia subsalt auction  S&P Global

Maine gets more than $4M from cap and trade auctions - WABI
Maine gets more than $4M from cap and trade auctions  WABI

Nature's Nursery raises funds in online art auction - Toledo Blade
Nature's Nursery raises funds in online art auction  Toledo Blade

Sequim Education Foundation sets silent auction fundraiser - Peninsula Daily News
Sequim Education Foundation sets silent auction fundraiser  Peninsula Daily News

Youngstown Chase building gets successful bid in auction - WFMJ
Youngstown Chase building gets successful bid in auction  WFMJ

Q&A: George Church’s Genome Up for Auction - The Scientist
Q&A: George Church’s Genome Up for Auction  The Scientist

Red Wings excited to announce #LGRW Online Auction - BlueJackets.com
Red Wings excited to announce #LGRW Online Auction  BlueJackets.com

Local nonprofits look forward to return of auctions – Methow Valley News - Methow Valley News
Local nonprofits look forward to return of auctions – Methow Valley News  Methow Valley News

Ticket from Tiger Woods' pro debut in Milwaukee will fetch thousands at auction - Green Bay Press Gazette
Ticket from Tiger Woods' pro debut in Milwaukee will fetch thousands at auction  Green Bay Press Gazette

HiBid.com Auctions Surpass $50 Million Last Week; Taking Bids Now on VR Headsets, Pickup Trucks, and More - PRNewswire
HiBid.com Auctions Surpass $50 Million Last Week; Taking Bids Now on VR Headsets, Pickup Trucks, and More  PRNewswire

Church joins the NFT craze with plans to auction off his genome - FierceBiotech
Church joins the NFT craze with plans to auction off his genome  FierceBiotech

1991 Isdera Imperator 108i Heads to Auction Autoweek Autos - Autoweek
1991 Isdera Imperator 108i Heads to Auction Autoweek Autos  Autoweek

Parents pack Aledo ISD meeting after racist Snapchat group and slave auction flyers - WFAA.com
Parents pack Aledo ISD meeting after racist Snapchat group and slave auction flyers  WFAA.com

Northgate Mall in Durham will soon be torn down. Here’s how you can get a piece of it. - Raleigh News & Observer
Northgate Mall in Durham will soon be torn down. Here’s how you can get a piece of it.  Raleigh News & Observer

Eddie Van Halen ‘Frankenstrat’ Guitars Hit the Auction Block - Rolling Stone
Eddie Van Halen ‘Frankenstrat’ Guitars Hit the Auction Block  Rolling Stone

Def Leppard Auction Goes Inside Rick Allen's Arm Loss - Ultimate Classic Rock
Def Leppard Auction Goes Inside Rick Allen's Arm Loss  Ultimate Classic Rock

TREASURIES-Yields show little movement despite strong 20-year auction - Nasdaq
TREASURIES-Yields show little movement despite strong 20-year auction  Nasdaq

Sotheby's Pak Auction Yields $16.8 Million as NFT Art Boom Continues - Bloomberg
Sotheby's Pak Auction Yields $16.8 Million as NFT Art Boom Continues  Bloomberg

Forgotten Copy of Super Mario Bros. Sets Record at Auction - The New York Times
Forgotten Copy of Super Mario Bros. Sets Record at Auction  The New York Times

Henry Ford II’s bespoke Capri is heading up for auction - Top Gear
Henry Ford II’s bespoke Capri is heading up for auction  Top Gear

Google’s Secret ‘Project Bernanke’ Revealed in Texas Antitrust Case - The Wall Street Journal
Google’s Secret ‘Project Bernanke’ Revealed in Texas Antitrust Case  The Wall Street Journal

Enter the 'man cave' auction: Pinball machines, Playboys and a moa skeleton all up for sale - Stuff.co.nz
Enter the 'man cave' auction: Pinball machines, Playboys and a moa skeleton all up for sale  Stuff.co.nz

Andrew Lloyd Webber to Auction Off Notable ‘Phantom of the Opera’ Prop - Rolling Stone
Andrew Lloyd Webber to Auction Off Notable ‘Phantom of the Opera’ Prop  Rolling Stone

ACV Auctions Rises 25% in Debut After $414 Million IPO - Bloomberg
ACV Auctions Rises 25% in Debut After $414 Million IPO  Bloomberg

This Pile of Twisted Metal at a Salvage Auction Used to Be a 2005 Ford GT - The Drive
This Pile of Twisted Metal at a Salvage Auction Used to Be a 2005 Ford GT  The Drive

Bat Used by Lou Gehrig in 1938 Sells at Auction for $715,120 - The New York Times
Bat Used by Lou Gehrig in 1938 Sells at Auction for $715,120  The New York Times

Want to Own the Ocean? Now You Can: Moen Launches NFT Auction to Help Combat Ocean Plastic Pollution - Yahoo Finance
Want to Own the Ocean? Now You Can: Moen Launches NFT Auction to Help Combat Ocean Plastic Pollution  Yahoo Finance

The Cartier and Jadeite Bangle bracelet at Sotheby's Hong Kong auction - Upscale Living Magazine
The Cartier and Jadeite Bangle bracelet at Sotheby's Hong Kong auction  Upscale Living Magazine

Wichita Mountains Wildlife Refuge holding 78th annual Longhorn Cattle Auction - KSWO
Wichita Mountains Wildlife Refuge holding 78th annual Longhorn Cattle Auction  KSWO

JPD evidence vault items, seized vehicles up for auction - WAPT Jackson
JPD evidence vault items, seized vehicles up for auction  WAPT Jackson

Prince William and Kate Middleton's 2013 Range Rover to sell at auction for as little as £30k - This is Money
Prince William and Kate Middleton's 2013 Range Rover to sell at auction for as little as £30k  This is Money

San Diego County has 279 properties up for auction. Here's the list - CBS News 8
San Diego County has 279 properties up for auction. Here's the list  CBS News 8

Used car dealers sue over alleged 'shill bidding' in ACV's auctions - Buffalo News
Used car dealers sue over alleged 'shill bidding' in ACV's auctions  Buffalo News

Elida schools to auction elementary school equipment - LimaOhio.com
Elida schools to auction elementary school equipment  LimaOhio.com

Cold Spring Area Auction • Sunday, April 25 | Auctions - ECM Publishers
Cold Spring Area Auction • Sunday, April 25 | Auctions  ECM Publishers

Baseball Cards Go Crypto as Auction Houses Warm to New Currency - Bloomberg
Baseball Cards Go Crypto as Auction Houses Warm to New Currency  Bloomberg

Iconic Classic Car Collection In Central Nebraska Up for Auction | netnebraska.org - NET Nebraska
Iconic Classic Car Collection In Central Nebraska Up for Auction | netnebraska.org  NET Nebraska

Ritchie Bros. keeps rolling with US$55+ million regional auction in Northeast US - PRNewswire
Ritchie Bros. keeps rolling with US$55+ million regional auction in Northeast US  PRNewswire

Online Onion Seller Rises from Domain Auction - Practical Ecommerce
Online Onion Seller Rises from Domain Auction  Practical Ecommerce

Florida to hold online auction to sell unclaimed property - Wink News - Wink News
Florida to hold online auction to sell unclaimed property - Wink News  Wink News

Hopkinsville Rotary Auction Continuing Strong Pace - wkdzradio.com
Hopkinsville Rotary Auction Continuing Strong Pace  wkdzradio.com

Mount St. Charles auction fundraiser begins May 8 - Valley Breeze
Mount St. Charles auction fundraiser begins May 8  Valley Breeze

Beverly Park mansion sells at auction for record $51 million - Los Angeles Times
Beverly Park mansion sells at auction for record $51 million  Los Angeles Times

BigIron Auctions to Host Classic Car and Motorcycle Auction Featuring Chevyland USA Inventory - GlobeNewswire
BigIron Auctions to Host Classic Car and Motorcycle Auction Featuring Chevyland USA Inventory  GlobeNewswire

Ritchie Bros. hits US$52+ million with latest regional auction success in US Midwest - PRNewswire
Ritchie Bros. hits US$52+ million with latest regional auction success in US Midwest  PRNewswire

St. Albert Auction offers myriad of merchandise - The Daily Nonpareil
St. Albert Auction offers myriad of merchandise  The Daily Nonpareil

Prototype of first US dollar coin may sell for $500,000 at auction - WGMD Radio
Prototype of first US dollar coin may sell for $500,000 at auction  WGMD Radio

Public auction to be held in Monroe Co. with cars seized by D.A.'s office - fox56.com
Public auction to be held in Monroe Co. with cars seized by D.A.'s office  fox56.com

Matthew Tkachuk of Calgary Flames is first NHL player to release NFT, will auction it off for charity - ESPN
Matthew Tkachuk of Calgary Flames is first NHL player to release NFT, will auction it off for charity  ESPN

ACV Auctions raises offer price range, eyes $364 million IPO - Reuters
ACV Auctions raises offer price range, eyes $364 million IPO  Reuters

HPU's Baptist Student Ministry to host art auction fundraiser for Go Now Missions - Brownwood News
HPU's Baptist Student Ministry to host art auction fundraiser for Go Now Missions  Brownwood News

Minor League Baseball Team To Auction Off Naming Rights To Its Stadium For Individual Games - Forbes
Minor League Baseball Team To Auction Off Naming Rights To Its Stadium For Individual Games  Forbes

Florida's unclaimed property auction goes online this year - South Florida Sun Sentinel
Florida's unclaimed property auction goes online this year  South Florida Sun Sentinel

Aledo ninth-graders' 'slave auction' of Black classmates should be a wake-up call to all white parents - The Dallas Morning News
Aledo ninth-graders' 'slave auction' of Black classmates should be a wake-up call to all white parents  The Dallas Morning News

Lionel train collection chugs into EJ's Auction & Appraisal - Glendale Star
Lionel train collection chugs into EJ's Auction & Appraisal  Glendale Star

Auction brings Red Sox legend Ted Williams to non-fungible token market - WCVB Boston
Auction brings Red Sox legend Ted Williams to non-fungible token market  WCVB Boston

Auctions with authenticity | Morrison County Record - ECM Publishers
Auctions with authenticity | Morrison County Record  ECM Publishers

Auction for rare Honus Wagner baseball card already hits $110000 - TribLIVE
Auction for rare Honus Wagner baseball card already hits $110000  TribLIVE

1972 Chevy Vega Wagon With Just 32 Original Miles Headed To Auction - GM Authority
1972 Chevy Vega Wagon With Just 32 Original Miles Headed To Auction  GM Authority

Timberwolves, Lynx host online auction for Daunte Wright's family - KSTP
Timberwolves, Lynx host online auction for Daunte Wright's family  KSTP

OSEES Announce Fall 2021 North American Tour, Werewolf Rug Auction For Charity [Photos] - Live for Live Music
OSEES Announce Fall 2021 North American Tour, Werewolf Rug Auction For Charity [Photos]  Live for Live Music

Possible Caravaggio Is Withdrawn From Auction; Spain Announces Export Ban - The New York Times
Possible Caravaggio Is Withdrawn From Auction; Spain Announces Export Ban  The New York Times

EXCLUSIVE PHOTO & VIDEO TOUR: Heritage Auctions' "Art of the Disney Theme Park" Lets Bidders Take Home a Piece of Walt Disney World History - wdwnt.com
EXCLUSIVE PHOTO & VIDEO TOUR: Heritage Auctions' "Art of the Disney Theme Park" Lets Bidders Take Home a Piece of Walt Disney World History  wdwnt.com

ACTION AUCTIONS GREENSBORO, NC APRIL 10, 2021 | Auction Sales - Greensboro News & Record
ACTION AUCTIONS GREENSBORO, NC APRIL 10, 2021 | Auction Sales  Greensboro News & Record

You Can Bid on Art by Top Interior Designers in This Virtual Auction - HouseBeautiful.com
You Can Bid on Art by Top Interior Designers in This Virtual Auction  HouseBeautiful.com

Waynesboro restaurant to go up for auction in May - The News Leader
Waynesboro restaurant to go up for auction in May  The News Leader

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