Auction Information

The Secret To Real eBay Success


Q. I hear so much about people who started selling on eBay and eventually turned it into their full time business. Is it really possible to build a profitable business just selling junk on eBay? -- Alex K.

ANSWER:

If Fred Sanford were alive today, Alex, I'm sure he'd be earning his ripple money by selling quality junk on eBay. While it's also true that one man's junk is another man's treasure (I have a garage full of treasure to prove this point), your chances of building a profitable business selling "junk" on eBay (or anywhere else, for that matter) are slim to none. While there is a lot of junk/treasure for sale on eBay, it is typically sold by individuals who have "I break for yardsales!" bumper stickers on their cars and not serious business people.

For serious entrepreneurs, however, selling on eBay can be a good way to start a new business if you are willing to put in the time and energy required to make the business a success. eBay is also a good option for existing businesses to expand their reach by selling online. Everyone from small used car dealers to giant companies like Dell Computers have discovered that eBay is an excellent place to hawk their wares simply due to the huge number of folks who visit the eBay site on a daily basis. Nowhere else on earth will you find such a large pool of potential customers.

Consider these numbers:

There are nearly 69 million eBay users who spend $59 million every day.

Most eBay sellers are home-based businesses that sell everything from porcelain dolls to locks of Elvis' hair to $100,000 Mercedes convertibles to $5 million dollar vacation homes.

Every minute of every day more than 150 new items are listed for sale, more than 500 bids are placed, and seven new people register to shop on eBay.

At any given moment, eBay is conducting some 12 million auctions, divided into about 18,000 different categories

About two million new items are offered for sale every day, and 62 million registered users scour the site to find them.

One company is grossing more than $5 million dollars a year selling brand new pool tables on eBay. Their eBay store is so profitable that they have closed their retail location and now sell solely online.That's right, $5 million dollars from the sale of pool tables: proof that you can sell just about anything on eBay if you know how to do it.

Be aware, however, that eBay is no magic bullet. As any eBay Power Seller (a seller who sells a minimum of $10,000 in goods per month) will tell you, building a profitable eBay business takes hard work and requires long hours, and often the financial rewards do not make it worth the effort spent.

When it comes down to the mechanics of it all, running an eBay business is no different than running a brick and mortar business. You still have the same considerations regarding product selection, inventory purchasing, product pricing, inventory management, order processing, fulfillment, customer service, etc.

You must also consider the legal and accounting aspects of the business. Just because you're selling online does not mean that Uncle Sam won't expect his piece of the pie. Revenue generated by an eBay business is just as reportable and taxable as revenue generated from a brick and mortar store. And if you sell to customers within your state you may also be responsible for collecting city, county or state sales tax.

One of the biggest obstacles to building a successful eBay business may be the stiffness of the competition. Many sellers sell identical items and the price wars often get ugly, but that's to be expected in a free market place, which is exactly what eBay is.

You may be the only store in town that's selling that one of a kind, custom made just for you, broke the mold after they made it, Dale Earnhart Memorial Bobble Head Action Figure (Earnhart fans would string me up if I called it a Doll), but do a quick search on eBay and you'll probably find a hundred others just like it.

So, can you build a profitable business selling on eBay? Certainly, thousands of people have done it and so can you. Here are a few tips to help get you started.

Sell Quality Products

Don't sell junk! Leave the knick-knacks and fake leather jackets to the less informed. You should offer only quality products at a fair price.

Research The Competition

Once you have your product in mind, don't invest a dime on inventory until you have spent some time on eBay to see what the competition is doing. If you want to sell motorcycle helmets, for example, you should look at current auctions to see how many others are selling similar helmets and what prices they are charging. This step is vital since you may discover that you can't compete with current sellers on price or there is simply no market for what you have to offer.

Start Slowly

Many people believe that the more items they have for sale on eBay the better. They will invest thousands in inventory and spent hundreds on listing fees (yes, eBay charges you to list items for sale and collects a final fee if the item sells). Those are the folks that usually end up with ten thousand Ginsu knives forever in their garage.

Test, Test, Test

A fair portion of eBay auctions result in no sales, so it's best to test the waters before jumping in with both feet. List a few items and see how they sell. If an item doesn't sell, list it at least twice more. Some items might not sell the first time, but may the second or third, then sell steadily from then on. If an item gets no bids the first time, consider adjusting your price or your terms. If an item sells well, keep it in stock and then experiment with another item.

Do Your Homework

eBay is too broad a subject to be covered fully here, but there are a multitude of books available that can help you start an eBay business. In fact, I bet you'll find most of them for sale at this very moment at eBay.

What's my bid?

Small Business Q&A is written by veteran entrepreneurand syndicated columnist, Tim Knox.Tim's latest books include "Small Business Success Secrets"and "The 30 Day Blueprint For Success!"Related Links:http://www.smallbusinessqa.comhttp://www.dropshipwholesale.net


MORE RESOURCES:
Weak Bond Auctions Flash Warning on India Record Debt Sales  Bloomberg

India is struggling to sell its bonds at recent auctions, and that's even before Prime Minister Narendra Modi embarks upon a record borrowing program.


Gujarat auctions 500MW of PV and tenders 175MW in solar parks  PV-Tech

Gujarat Urja Vikas Nigam Limited (GUVNL) has auctioned 500MW of grid-connected solar capacity with winning tariffs in the range of INR2.55-2.66/kWh ...


UK holds auction, sells unused campus equipment | News  Kykernel.com

Another University of Kentucky auction has come and gone.


Turquoise And Plato Extend Partnership To Lit Auctions  Markets Media

Turquoise Plato set records for large-in-scale trades on the London Stock Exchange's trading venue last month, continuing on from a record 2018 and after ...


Auction Preview: Asian Antiques & Art at Altair Auctions, Norwood, Mar 1  BLOUIN ARTINFO

What: Asian Antiques & Art. Where: Altair Auctions, 151 Carnegie Row, Norwood, MA 02062, United States. When: Mar 1, 12:00 AM GMT. Top Lots of the Sale:.


JFK must-haves at auction: Presidential flag, inauguration shirt  Washington Examiner

New must-haves for JFK collectors are heading to auction, and the winning bidder will be able to act — and look — just like the 35th president. Our friends at ...


Turkish Treasury holds auctions to borrow $1.86B  Yeni Şafak English

Treasury and Finance Ministry holds auctions for fixed coupon and CPI-indexed government bonds.


Artists Who Donate Work to Benefit Auctions Get Little More Than Good Karma  Artsy

An upcoming charity auction at Sotheby's featuring works by women artists exemplifies the meager tax incentives for artists to donate their work.


Rarest, most valuable US paper bills in existence set for multimillion dollar auction  Fox News

Three exceedingly rare 19th century U.S. currency notes are expected to sell for a combined $7 million when they are auctioned off next week.


Michael Jordan's game-worn shoe heads to auction after rescue from mall  New York Post

More than 20 years after Michael Jordan won his last championship, the NBA legend's game-worn Air Jordan from 1985 is up for sale – after being salvaged ...


Concierge Auctions Unveils February Lineup Of Top-Tier Properties Across Five US States And Three Countries  PRNewswire

NEW YORK, Feb. 19, 2019 /PRNewswire/ -- Concierge Auctions has announced its February lineup available across five U.S. states and three countries, and ...


Lou Gehrig's game-worn hat expected to fetch $200,000 at auction  New York Post

A host of Yankees legend Lou Gehrig's personal memorabilia is up for auction, with a game-worn hat in impeccable condition valued at $200000 as the ...


Luxury Real-Estate Firm Concierge Auctions Fights Allegations of Fraudulent Bids  Wall Street Journal

In the competitive world of luxury real estate, Concierge Auctions is the dominant force in the rapidly growing business of selling pricey properties to the highest ...


North Carroll: Annual auction for Boy Scout Troop 380 set for March 2  Carroll County Times

Boy Scout Troop 380 is holding its annual auction to raise money toward supporting the troop and its events. The auction will be run from 9 a.m. until 5 p.m. ...


Auction of Treasury bills RIKV 19 0618 Iceland Stock Exchange:RIK  GlobeNewswire

On Friday, 22 February at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 19 0618 which mature on 18 June 2019.


Online auction for the United Way is March 8  Cornell Chronicle

The fourth annual Big Red Online Auction to benefit the United Way will be held March 8 from 12:01 a.m. to 11:59 p.m..


Highlights from the record-breaking 2019 Retromobile car auctions  New Atlas

The cluster of elite car auctions associated with Rétromobile grew in strength yet again this year with official auction house Artcurial and the world's largest ...


Torrington sells downtown property at tax auction; no bids on 2nd site  Torrington Register Citizen

TORRINGTON — A sparse crowd attended the city's delinquent tax auction Tuesday, where one of the two properties for sale was purchased. The former ...


Load shedding 'devastates' SA vehicle auctions  Wheels24

Load shedding is having a devastating effect on vehicle auctioneers, according to Darryl Jacobson, managing director of True Price.


Ferrari Emerges As Top Earner from 2019 Scottsdale Collectible Car Auctions  Forbes

With another round of January auctions behind us, we can now get a better look at how collector cars are selling and marvel at the prices they command.


Auctioneer facing more theft allegations at National Book Auctions  ithaca.com

Local auctioneer David Hall, who ran two local consignment companies, has been hit with another lawsuit regarding the operation of his National Book Auctions ...


Brisbane auctions: Buyers hanging out for the houses with nothing to do  Domain News

In this era of time-poor professionals and busy families, finding a house that requires no work has become a high priority for many Brisbane buyers.


Chandler Speedway up for auction  TriStateHomepage.com

The auction will take place on Wednesday, March 20.


Long Chim adds Thai spice to Auction House Market  NOLA.com

Long Chim began with a craving. After moving to New Orleans, May Mananya couldn't find the food she used to eat in her native Bangkok. So she started ...


Department of Revenue announces auction schedule for Borriello Brothers Pizza  KOAA 5

Your browser does not currently recognize any of the video formats available. Click here to visit our frequently asked questions about HTML5 video.


Visit The Kung Fu Nuns Of Nepal And Other Auction Items At The Hollywood For Science Gala  Forbes

Buddhist nuns practice Kung Fu at the Amitabha Drukpa Nunnery on the outskirts of KathmanduGetty. Our world is dramatically changing through global ...


KAR Auction Services Inc (KAR) to Issue $0.35 Quarterly Dividend  Fairfield Current

KAR Auction Services Inc (NYSE:KAR) announced a quarterly dividend on Tuesday, February 19th, RTT News reports. Shareholders of record on Friday, March ...


Local News Clark County to hold first surplus auction of the year Amy Abdelsayed 9:55  KTNV Las Vegas

LAS VEGAS (KTNV) — Clark County's first government surplus auction of 2019 is just around the corner and the preview and pre-registration begin next week.


Quick draw artist? Sacramento painter opens for Kiss, auctions off artworks  Sacramento Bee

Sacramento based artist David Garibaldi has been opening for KISS since they kicked off their world tour in January.


Museum of Art auction ends Thursday  News Chief

LAKELAND — The Polk Museum of Art's annual fundraising online auction ends at 5 p.m. Thursday. Nearly 70 items are being sold to the highest bidder for just ...


Vodafone Idea wants 5G auctions only after 2020  ETTelecom.com

Vodafone Idea Limited (VIL), India's leading telecom operator said that 5G auction should only take place sometime after 2020.


'Ballpark Auctions' moves to new Port Richey location  FOX 13 News, Tampa Bay

There's a brand new place in Port Richey called Ballpark Auctions.


The FCC Just Wrapped Its First 5G Airwave Auction, and It Didn't Even Crack $1 Billion  Fortune

The first 5G airwave license auction ended with the Federal Communications Commission receiving total winning bids of $702 million.


Monty Mason '89 yearbook pages depict Pi Lambda Phi 'slave auctions'  The Flat Hat

When Virginia Senator Monty Mason '89 (D-Williamsburg) was an undergraduate at the College of William and Mary, his fraternity — Pi Lambda Phi ...


Big Changes Expected For The Boulevard Mall If It Goes To Auction  wyrk.com

The way people shop has completely changed so of course the places where we shop will need to change too. That looks like the case with The Boulevard Mall.


Online New Mexico-Based Dispersal Auction Takes Place Feb. 22-25 - Horse Racing News  Paulick Report

An online auction of 70 Thoroughbreds, including broodmares, yearlings, 2-year-olds, and a stallion, will take place Feb. 22-25 as part of a court-ordered ...


Tim Participacoes CEO sees Brazil 5G auction in about a year  Reuters

The chief executive of Brazil's third largest wireless carrier TIM Participações, Sami Foguel, said on Wednesday that the government should auction the 5G ...


Sheldon Christian School hosting auction | News  nwestiowa.com

SHELDON—The good book says faith can move mountains and a group of believers also hope it can help raise $35000 for Sheldon Christian School.


Chocolate auction supports youth programs  Valleyjournal

ARLEE – Auctioneer JR Strand had never seen a three-way tie for the top honor at the Arlee Chocolate Lover's Festival, but he did this year af...


SVN Auction Services awarded contract to support UDOT to meet mandate to sell surplus real property  GlobeNewswire

SVN Auction Services builds electronic online auction platform to enable the Utah Department of Transportation to accelerate and close sales of surplus real ...


Heritage Auctions – Seldom Seen Selections: Rare 2nd Series Bechtler $5 Gold Coin  CoinWeek

America's first gold rush took place in the Piedmont area of North Carolina and Georgia in the 1820s and '30s. The expanding economy of the region.


Germany Awards 476 Megawatts In Latest Undersubscribed Onshore Wind Auction  CleanTechnica

February 20th, 2019 by Joshua S Hill. Germany's latest onshore wind tender was again undersubscribed with only 476 megawatts (MW) of capacity being ...


Industry Stunned as Mexico Cancels Clean Power Auction  Greentech Media News

Mexico's renewables sector is reeling from the cancellation of an upcoming clean energy auction and the likely handing of power back to state entities.


Auction to benefit Denver Fair  EphrataReview.com

Photo by Alice Hummer The Auction Committee admires some of the larger items donated for their Feb. 23 event at Denver Fire Company. All proceeds benefit ...


Defunct, iconic Monroe hardware store to host auction  CTPost

MONROE — The owner of Stepney Hardware, 590 Main St., broke hearts last month when he announced the iconic store would close after more than 60 years ...


Global Wine Auction Market Exceeds $479 Million in 2018 | Collecting News | Collecting  Wine Spectator

While 2018 was a volatile year for Wall Street, it was a winning year for wine auctions. Bidders paid record prices for a host of rarities ranging from Domaine de ...


9 Online Auction Sites to Rival eBay  G2 Crowd

Online auctions are a great way to snag unique items, so we've compiled a list of 9 online auction sites that work similarly to eBay but offer a unique way for you ...


Silent Auction Will Benefit Programs At Linden House  Ste. Genevieve Herald

French Colonial America, the properties of the campus of the National Society of the Colonial Dames of America in the State of Missouri, will host a silent auction ...


Auction for memorabilia at popular Mardi Gras Multiclub underway  WPRI 12 Eyewitness News

According to Salvadore Auctions website, the doors opened at 9 a.m. and bidding started at at 11 a.m. on Saturday.


Brisbane auctions: The Balmoral time capsule house holding a lifetime of memories  Domain News

On the market for the first time in its 57-year history, this Balmoral Hill house was a literal labour of love for its owner and is now a bricks and mortar time capsule ...


Candlelight Ball auction to raise money for APSU scholarships  Clarksville Leaf Chronicle

Every spring, the Austin Peay State University Candlelight Ball provides an evening of fine dining and dancing, while also allowing participants to support ...


FDM Auction Brings Dance Marathon to 61 Percent of its Goal  Fordham Ram

This year's Fordham Dance Marathon Auction (FDM), benefitting The Andrew McDonough Be Positive (B+) Foundation, brought the FDM team to 61 percent of ...


SCS Winter Auction Packer football | News  nwestiowa.com

This football signed the 2018 Green Bay Packers will be up for bid during the Sheldon Christian School 2019 Winter Auction on Friday, Feb. 22.


Auction Preview: The Amelia Island Auction at Bonhams, Fernandina Beach Golf Club, Mar 7 | Artinfo  BLOUIN ARTINFO

What: The Amelia Island Auction. Where: Bonhams, Fernandina Beach Golf Club, 3990 Amelia Island Parkway, Fernandina Beach FL 32034. When: Mar 7 ...


Feds auction off prized horses of ex-Venezuela treasurer who got rich as socialist country crumbled  Fox News

As Venezuela's path of socialism was going bust and millions of people were drowning in poverty without access to adequate healthcare or even food, a small ...


Art auction funds scholarship in memory of beloved teacher  Big Country Homepage

A new scholarship is being organized in memory of beloved Wylie art teacher Stacy Horton Sanchez. You can help fund the scholarship for it's first students at a ...


Buy Your Sweetheart A $500K Heart-Shaped Meteorite That Could Have Destroyed Siberia This Valentine's Day  Fortune

Christie's is auctioning off a heart-shaped meteorite that crashed into Siberia's Sikhote-Alin mountains on Valentine's Day.


Antigua Villa Heading to Auction  Caribbean Journal

A luxe Antigua villa is headed to auction, Caribbean Journal has learned: the Villa Nonsuch at Antigua's prestigious Nonsuch Bay.


Jourdanton Chamber of Commerce BBQ/Auction  Pleasanton Express

Once again the The Jourdanton Chamber of Commerce would like to invite everyone to their annual BBQ & Auction that is fast approaching! Mark those ...


Realtors' auction set for St. Demetrios | News, Sports, Jobs  Warren Tribune Chronicle

WABOR FUNDRAISER FOR MISSION: Warren Area Board of Realtors will hold a quarter auction fundraiser 7 p.m. Thursday at St. Demetrios Community Center ...


BCSO Hosts Car Auction  My Panhandle

Those in need of a car were able to get some great deals early Saturday morning.


Quora adds search-like keyword targeting, Auction Insights for advertisers  Search Engine Land

SAN JOSE — Quora continues to rapidly build out features and capabilities of its not-yet-two-year old advertising platform. The question and answer platform ...


Auction of inflation-linked Treasury bonds RIKS 26 0216 Iceland Stock Exchange:RIK  GlobeNewswire

On Thursday, 21 February at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds. In this auction Inflation-linked Treasury Bonds ...


Auction set for kuleana on Zuckerberg estate  Thegardenisland.com

LIHUE — Several small land parcels located within the boundaries of Facebook CEO Mark Zuckerberg's 700-acre estate on the North Shore will be sold at a ...


Online auction of seized Belgian bitcoin begins next week  The Irish Times

Wilsons Auctions secures contract to sell 315 coins of cryptocurrency.


David Gilmour's guitar collection comes to auction  Christie's

David Gilmour's 1969 Black Fender Stratocaster has earned its place in rock'n'roll history. Known as 'The Black Strat', the guitar was purchased in 1970 at ...


Ayrton Senna memorabilia smashes auction records  New Atlas

Three-time Formula One Champion Ayrton Senna continued to smash records 25 years after his death at Retromobile last weekend, setting new auction price ...


4-H tradition continues with dinner, auction | News, Sports, Jobs  Marietta Times

It may be Jeremy Barth's 30th year of involvement with 4-H but it's his first organizing the major annual fundraiser for Washington County 4-H. The 4-H E.


George Washington's 'illustrious' hair goes up for auction  Fox News

A lock of hair from founding father George Washington is set to go up for auction next month and experts believe it could fetch a pretty penny.


007 Lots You Can Buy In The Bond & Beyond Auction  Forbes

Memorabilia associated with James Bond and other vintage action stars hits the auction block on February 7th. A range of material from actual film-used props to ...


Clark County auction scheduled for March 2  KLAS-TV

Clark County will hold its first government auction of the year on Saturday, March 2.


Third annual auction benefits QHS FFA  Herald-Whig

The third annual Quincy High School FFA auction will take place Thursday, Feb. 21, in the QHS cafeteria.


Julian Edelman's Used Beard Clippings Pass $2,000 Mark In Charity Auction  TMZ

The famous facial hair Julian Edelman rocked this past season can be all yours.


2019 Fantasy Baseball Draft Prep: 12-team Head-to-head points auction  CBS Sports

Every auction is different, of course, but Scott White says it wasn't so surprising to see owners go aggressively after starting pitching in this one.


Three Lotus Carltons are up for sale… at the same auction  Top Gear

Race Retro sale includes three examples of the iconic super-saloon. Greg Potts. 20 Feb 2019. Facebook · Twitter · Google+ · WhatsApp · Mailto · Copy link.


No one wanted to buy Hitler's paintings at an auction held in Germany amid public outrage and accusations of forgery  Business Insider

Five paintings believed to be created by Adolf Hitler failed to sell at a German auction amid public outrage and accusations of forgery over the weekend.


Mystery Buyer Splashes Out Thousands On Sperm Whale Penis At Auction  LADbible

The Out of The Ordinary auction boasted some of the weirdest objects from around the world.


Kane Beef Up For Auction Wednesday  Drovers Magazine

After a private sale of Kane Beef fell through last week, the Corpus Christi beef processor will be sold at auction.


Up for auction: Bob Dylan's childhood bathroom sink  Bring Me The News

It's being sold on Ebay by the owners of the former Zimmy's Restaurant.


Pensacola's Brew Ha Ha to close permanently on one-year anniversary, auction memorabilia  Pensacola News Journal

After just one year in business, the owner of the Brew Ha Ha in East Hill has announced she is closing the restaurant and auctioning off its large collection of ...


County site to go on auction block | Local News  Gettysburg Times

A former magistrate building in downtown Gettysburg is expected to go up for public auction this spring.


LaFayette's last dairy farm to auction off equipment, cattle  WSYR

Owner Bud Nurse told NewsChannel 9 due to his health and the dairy economy, he has decided to auction off all of his equipment and cattle.


Bay County Sheriff's Office holding vehicle surplus auction Saturday  WJHG-TV

Officials say the vehicles come from places such as the Bay County Sheriff's Office, the Franklin County Sheriff's Office, and the City of Parker.


The Golf Auction to present rare, coveted pieces of the PGA REACH collection  PGA.com

A 1999 PGA Championship flag autographed by Tiger Woods is one of the rare collectibles that is part of the PGA REACH Collection, which will be unveiled for ...


Bifacial takes all in Alberta large-scale PV auction, final price cheaper than gas  pv magazine International

The Albertan Ministry of Infrastructure allocated around 94 MW of solar capacity and the three selected projects, all using bifacial modules, were secured by ...


Priciest home ever listed for sale in Arizona draws $14 million bid at auction  AZCentral

One of Arizona's priciest homes — a 31000-square-foot Paradise Valley mansion listed for $35 million — drew a top bid of $14 million on Jan. 31.


Obsessing Over Astronomical Auction Results Only Makes Us Miserable  The Drive

If there's one annoying automotive enthusiast tic that needs to stop, it's all the fussing and hum-hawing over auction results. Every time there's a nearly perfect ...


Mardi Gras Multi Club items being sold at auction  Turn to 10

Here's a chance to own a piece of Rhode Island nightclub history. Items from Mardi Gras, JR's Fastlane, Mustang Sally's and Club 5 in Cranston are being sold ...


1935 Austin treasured auction find  Chron.com

While working for the U.S. State Department some 20 years ago, Melvin Gamble was assigned to South Africa. Settling into their new post, Gamble told his wife ...


New England Patriots Julian Edelman's beard trimmings up for auction  MassLive.com

Julian Edelman's beard is no more but the trimmings will have a second life, of sorts.


No One Wanted To Buy These 'Hitler Paintings' At Controversial Nuremberg Auction  HuffPost

Five paintings purportedly made by genocidal dictator Adolf Hitler failed to find any buyers at a weekend auction in Nuremberg, Germany, amid concerns about ...


Eric Sabree welcomes investigations of family's role in tax foreclosure auction  The Detroit News

Wayne County Treasurer Eric Sabree embraced two separate county reviews of his family's property purchases from his office's tax auction, he said in a ...


home | site map
© 2006