I have been buying and selling items on EBay for over six years and know several secrets. But first, let me give credit to Shane Carney for reminding of all these different secrets. His articles How to Save Money on Your EBay Auctions and Tips for EBay Sellers: How to Make More Money Off of Your Auctions offer very valuable tips and should be reviewed for more information on making and saving money through EBay auctions.
Making Money through EBay Auctions
There are a few ways that seem to always ensure that you will make more money on your EBay auctions:
I have passed up several EBay auctions because sellers do not accept PayPal. It is simply too much of a hassle to drive out to the post office and buy a money order. If you send a check for the EBay auction that you won, it takes twice as long because the EBay seller must wait for your check to clear. Most bidders on EBay want the convenience of PayPal. I have seen several EBay auctions that have been very cheap and haven’t gotten bids, because the EBay seller didn’t offer PayPal. Don’t make this mistake. A PayPal account is very easy to setup and if you are a CP you already have a PayPal account, so put it to use and make more money off your EBay auctions
Ending an Auction
EBay auctions that end on the weekends make more money. It’s simple, more people are at home on the weekends and more people have the time to leisurely search EBay for that got to have item. Most people who go on EBay are looking for items that are ending soon. So why not have your auction up there at the top, so buyers can win the auction right away?
Unless your item is worth hundreds of dollars, it’s best to avoid reserves. Many EBay buyers are turned off when they see Reserve Not Met, on an auction. To them this screams, “Look elsewhere. This person obviously wants a lot for this item.” Think about it, if you are an EBay buyer and see that, what is your first thought? Another example is going to a store where nothing is priced. Most people think, “If they can’t price it, it’s too expensive.”
If you want to make some serious cash through EBay auctions sell your items in December. Thousands of people flock to EBay during the holiday season to find that perfect gift at a cheap price. I have seen items go for twice what they did in November. People are often looking for items that they can no longer buy in stores, items that are in like new condition, and honestly just about anything. EBay buyers buy a lot more items than they do the rest of the year. An item that might not sell in June, will sell easily in December.
Saving Money through EBay Auctions
Find auctions that don’t accept PayPal and you’re bound to find a great deal. As I mentioned above EBayers want the convenience of paying online, so take advantage of their laziness and save a bundle.
Middle of the Week
Look for auctions that end in the middle of the week, preferably early morning hours. This will save you a lot of money. Most people aren’t sitting in front of the computer at 3am, in the middle of the week, looking at EBay auctions. If you have a job that allows you to be awake at these hours, hunt out those deals on EBay.
Looking for Christmas Gifts
Don’t wait until December! Like I mentioned above this is when EBay buyers become ravenous and will bid on any EBay auction, whether they need the item, up for auction, or not. Instead start your Christmas shopping in June or July. Lots of people are on vacation during this time of the year and EBay is the last thing on their minds.
This is one of the best tips of all. Some people think sniping is illegal on EBay, but it’s not. Sniping is when you bid on an auction in the last few seconds. This is what EBay has to say about sniping, “Sniping is part of the eBay experience, and all bids placed before a listing ends are valid – even if they’re placed one second before the listing ends.” I have won several auctions by sniping, sometimes by only a few cents and it’s a great feeling to know you snuck in there and stole that item away; it’s almost like a sport. If you aren’t comfortable with sniping, make sure you bid the maximum of what you want to pay when you bid on an item, then even if a bidder tries to sneak in a bid in the last few seconds of an EBay auction, they’ll have to bid higher than what you bid to win.
Basically do the opposite for each. If you want to make money, do the opposite of all the things that turn you away from an EBay auction. If you want to save money, make an effort and actually go to the post office for that money order after winning an EBay auction that doesn’t accept PayPal.
Good luck and happy bidding and selling.