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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 Fri. March / 29 / 2024

Titanic prop that saved Rose and sparked debate fetches $700k at auction - NPR
  1. Titanic prop that saved Rose and sparked debate fetches $700k at auction  NPR
  2. This controversial "Titanic" prop has spawned decades of debate — and it just sold for $700,000  CBS News
  3. The ‘Titanic’ Door That Could’ve Saved Jack Just Fetched $718,750 at Auction  Robb Report

Karl Lagerfeld’s final residence sells for $10.81M at auction - New York Post
Karl Lagerfeld’s final residence sells for $10.81M at auction  New York Post

Meissner's Auction House petroliana auctions draw collectors - Times Union
Meissner's Auction House petroliana auctions draw collectors  Times Union

Crypt near Marilyn Monroe and Hugh Hefner could fetch $400,000 at auction - CNN
Crypt near Marilyn Monroe and Hugh Hefner could fetch $400,000 at auction  CNN

NBA Star Ben Simmons' $17.5 Million Los Angeles Mansion Heads To Auction - Forbes
NBA Star Ben Simmons' $17.5 Million Los Angeles Mansion Heads To Auction  Forbes

Report: NFL will auction 2024 Christmas games - NBC Sports
Report: NFL will auction 2024 Christmas games  NBC Sports

Chenango County auction businessman arrested on arson, fraud charges - WBNG
Chenango County auction businessman arrested on arson, fraud charges  WBNG

Tilda Swinton Bedtime Story Read and Josh O’Connor Porridge-Making Lesson Among Auction Lots Raising Money for Gaza - Variety
Tilda Swinton Bedtime Story Read and Josh O’Connor Porridge-Making Lesson Among Auction Lots Raising Money for Gaza  Variety

Karl Lagerfeld’s Paris Apartment Sold at Auction for $10.8 Million - The New York Times
Karl Lagerfeld’s Paris Apartment Sold at Auction for $10.8 Million  The New York Times

Treasury Auctions Attract Better Demand. This Is What Has Changed. - Barron's
Treasury Auctions Attract Better Demand. This Is What Has Changed.  Barron's

Helen Lafrance artwork for auction | - WPSD Local 6
Helen Lafrance artwork for auction |  WPSD Local 6

J Martin Auctions LLC | Ads to Go | fltimes.com - Finger Lakes Times
J Martin Auctions LLC | Ads to Go | fltimes.com  Finger Lakes Times

Dave auctions the blazer off his back; raises $1000 for Hastings Public Schools Foundation - NTV
Dave auctions the blazer off his back; raises $1000 for Hastings Public Schools Foundation  NTV

Men's Volleyball “Excite” Jersey Auction - University of Hawai'i at Manoa Athletics - University of Hawaii Athletics
Men's Volleyball “Excite” Jersey Auction - University of Hawai'i at Manoa Athletics  University of Hawaii Athletics

Blaine, 4/09/2024, 10:00AM. | Auctions | messagemedia.co - Aitkin Independent Age
Blaine, 4/09/2024, 10:00AM. | Auctions | messagemedia.co  Aitkin Independent Age

Elite Auctions offers 6.7-acre property Summit at Silverleaf - Daily Independent
Elite Auctions offers 6.7-acre property Summit at Silverleaf  Daily Independent

Superman’s Debut Issue Could Set a Comic Book Record at Auction - Barron's
Superman’s Debut Issue Could Set a Comic Book Record at Auction  Barron's

'Titanic' Door Prop That Saved Rose (Sorry, Jack) Sells for $718750 - The New York Times
'Titanic' Door Prop That Saved Rose (Sorry, Jack) Sells for $718750  The New York Times

The Door From ‘Titanic,’ Too Small to Fit Two People, Sells Big at Auction - artnet News
The Door From ‘Titanic,’ Too Small to Fit Two People, Sells Big at Auction  artnet News

Infamous 'Titanic' door sells for staggering €663000 at auction - Euronews
Infamous 'Titanic' door sells for staggering €663000 at auction  Euronews

Scuba diver finds Barbie in river, viral doll now up for auction - WVTM13 Birmingham
Scuba diver finds Barbie in river, viral doll now up for auction  WVTM13 Birmingham

Clearance rate remains low in latest China soybean auction - AgriCensus
Clearance rate remains low in latest China soybean auction  AgriCensus

Peter Angelos' downtown Baltimore tower heads to auction - Baltimore Business Journal - The Business Journals
Peter Angelos' downtown Baltimore tower heads to auction - Baltimore Business Journal  The Business Journals

Local preservation group looks to keep Helen LaFrance's artwork to sell at auction local - WPSD Local 6
Local preservation group looks to keep Helen LaFrance's artwork to sell at auction local  WPSD Local 6

‘Titanic’ Door that Saved Rose (But Not Jack) Fetches Six Figures at Auction - ARTnews
‘Titanic’ Door that Saved Rose (But Not Jack) Fetches Six Figures at Auction  ARTnews

NC auctions off abandoned safe deposit boxes - WFMYNews2.com
NC auctions off abandoned safe deposit boxes  WFMYNews2.com

Crypt near Marilyn Monroe, Hugh Hefner to be auctioned off for $400,000 - USA TODAY
Crypt near Marilyn Monroe, Hugh Hefner to be auctioned off for $400,000  USA TODAY

Infamous 'Titanic' Wood Panel Fetches Thousands at Auction - Entrepreneur
Infamous 'Titanic' Wood Panel Fetches Thousands at Auction  Entrepreneur

Warhol-Basquiat Collaboration: Untitled Painting Set for $18M Auction - stupidDOPE.com
Warhol-Basquiat Collaboration: Untitled Painting Set for $18M Auction  stupidDOPE.com

ACV Auctions supporting women leadership - Buffalo News
ACV Auctions supporting women leadership  Buffalo News

Bedtime stories with Tilda Swinton and tea with Joseph Quinn on auction for Gaza - Euronews
Bedtime stories with Tilda Swinton and tea with Joseph Quinn on auction for Gaza  Euronews

Broadway Elementary to Host Spring Auction - yovenice
Broadway Elementary to Host Spring Auction  yovenice

Sotheby's Auction Warhol Basquiat Untitled 1984 Art - HYPEBEAST
Sotheby's Auction Warhol Basquiat Untitled 1984 Art  HYPEBEAST

More Outperformance as Treasuries Fret Over Auctions - Mortgage News Daily
More Outperformance as Treasuries Fret Over Auctions  Mortgage News Daily

Ponte Vedra Beach home sells for over $7.5 million in auction - ActionNewsJax.com
Ponte Vedra Beach home sells for over $7.5 million in auction  ActionNewsJax.com

'Titanic' prop door sold for over $700,000 – Deseret News - Deseret News
'Titanic' prop door sold for over $700,000 – Deseret News  Deseret News

McBain Scholarship Foundation looking for items, new donors ahead of April auction - Cadillac News
McBain Scholarship Foundation looking for items, new donors ahead of April auction  Cadillac News

Junior Livestock and Poultry Auction takes place - 12newsnow.com KBMT-KJAC
Junior Livestock and Poultry Auction takes place  12newsnow.com KBMT-KJAC

‘Titanic’ driftwood ‘door’ that saved Rose sells at auction for $700K - The Washington Post
‘Titanic’ driftwood ‘door’ that saved Rose sells at auction for $700K  The Washington Post

LatAm 5G accesses up to 39 mln ahead of spectrum auctions - Telecompaper EN
LatAm 5G accesses up to 39 mln ahead of spectrum auctions  Telecompaper EN

African American art auction | Local News On Demand - WPSD Local 6
African American art auction | Local News On Demand  WPSD Local 6

Motorsports Hall of Fame of America launches major auction fundraising campaign with Lunch with GM President Mark ... - RACER
Motorsports Hall of Fame of America launches major auction fundraising campaign with Lunch with GM President Mark ...  RACER

A Colorado auction house is selling Mexican antiquities. That nation’s leaders say they’re stolen. - The Denver Post
A Colorado auction house is selling Mexican antiquities. That nation’s leaders say they’re stolen.  The Denver Post

Props from ‘Titanic’ and ‘Indiana Jones’ Earn Six Figures at Auction $525,000 - Barron's
Props from ‘Titanic’ and ‘Indiana Jones’ Earn Six Figures at Auction $525,000  Barron's

Auction notes: Awards from GM Financial & anniversary at America's Auto Auction Charleston - Auto Remarketing
Auction notes: Awards from GM Financial & anniversary at America's Auto Auction Charleston  Auto Remarketing

Unclaimed property auction scheduled for March 27 - CBS Pittsburgh
Unclaimed property auction scheduled for March 27  CBS Pittsburgh

Sotheby's Doubles Down on Athletic Collectibles With 'Sports Week' Auctions - Investopedia
Sotheby's Doubles Down on Athletic Collectibles With 'Sports Week' Auctions  Investopedia

April's abandoned and court-forfeited vehicle auction this Tuesday - Wyo4News
April's abandoned and court-forfeited vehicle auction this Tuesday  Wyo4News

Winning Offshore Wind Auctions in a Changing Market - BCG
Winning Offshore Wind Auctions in a Changing Market  BCG

Local Players Dominate Brazil $3.6 Billion-Power Line Auction - Bloomberg
Local Players Dominate Brazil $3.6 Billion-Power Line Auction  Bloomberg

NFL Christmas Day Games to Come Up for Auction - Front Office Sports
NFL Christmas Day Games to Come Up for Auction  Front Office Sports

Freedom Flight Holding Gun Raffle and Silent Auction Fundraiser - WJON News
Freedom Flight Holding Gun Raffle and Silent Auction Fundraiser  WJON News

Large Collection of St. Louis Neon Signs and Memorabilia to be Sold at Auction - nextstl.com
Large Collection of St. Louis Neon Signs and Memorabilia to be Sold at Auction  nextstl.com

Wisconsin coin collection fetches almost $900,000 at auction | Top Stories | wkow.com - WKOW
Wisconsin coin collection fetches almost $900,000 at auction | Top Stories | wkow.com  WKOW

Lady Gaga, Amy Winehouse, Martin Luther King Jr.’s Letters to Tony Bennett Being Offered at Auction - Variety
Lady Gaga, Amy Winehouse, Martin Luther King Jr.’s Letters to Tony Bennett Being Offered at Auction  Variety

Rare Babe Ruth rookie card from 1916 — once a store freebie — could fetch $500K at auction - New York Post
Rare Babe Ruth rookie card from 1916 — once a store freebie — could fetch $500K at auction  New York Post

Stack's Bowers & Ponterio Offers Eclectic Spring Hong Kong Auction Full of Rarities - Greysheet Daily News
Stack's Bowers & Ponterio Offers Eclectic Spring Hong Kong Auction Full of Rarities  Greysheet Daily News

Iconic 'Titanic' Door Just Sold for $718,750 at Auction - My Modern Met
Iconic 'Titanic' Door Just Sold for $718,750 at Auction  My Modern Met

How Julien’s Auctions Leads the Booming Market in Celebrity Memorabilia - The New Yorker
How Julien’s Auctions Leads the Booming Market in Celebrity Memorabilia  The New Yorker

Auction brings more than $7.5 million for Ponte Vedra Beach home | Jax Daily Record - Jacksonville Daily Record
Auction brings more than $7.5 million for Ponte Vedra Beach home | Jax Daily Record  Jacksonville Daily Record

Rarest Items on Wheels on the Auction Block at the Historic GP - Hello Monaco!
Rarest Items on Wheels on the Auction Block at the Historic GP  Hello Monaco!

'Titanic' floating door prop that saved Rose — but sadly not Jack — auctioned off for startling amount - New York Post
'Titanic' floating door prop that saved Rose — but sadly not Jack — auctioned off for startling amount  New York Post

Refiner Citgo set to open data room for bidders tied to court auction - Reuters
Refiner Citgo set to open data room for bidders tied to court auction  Reuters

How you can get Gordie Howe memorabilia in online charity auction - Detroit Free Press
How you can get Gordie Howe memorabilia in online charity auction  Detroit Free Press

This controversial ‘Titanic’ prop sold for more than $700,000 at a memorabilia auction - CNN
This controversial ‘Titanic’ prop sold for more than $700,000 at a memorabilia auction  CNN

Pickens Auctions Annual Spring 24 Equipment Sale at Payne County Expo Center - Visit Stillwater, Oklahoma
Pickens Auctions Annual Spring 24 Equipment Sale at Payne County Expo Center  Visit Stillwater, Oklahoma

Infamous 'Titanic' floating door sells for more than $700000 in Texas - Chron
Infamous 'Titanic' floating door sells for more than $700000 in Texas  Chron

G-Dragon's artwork pulled from auction by owner - The Korea JoongAng Daily
G-Dragon's artwork pulled from auction by owner  The Korea JoongAng Daily

Fashion Can Go for Eye-Popping Prices at Auction. Who's Buying It? - The Business of Fashion
Fashion Can Go for Eye-Popping Prices at Auction. Who's Buying It?  The Business of Fashion

Controversial 'Titanic' door sells for over $700K at auction - New York Daily News
Controversial 'Titanic' door sells for over $700K at auction  New York Daily News

Welcome Mat: Farmington Community Library Odds & Ends Art Auction - Detroit News
Welcome Mat: Farmington Community Library Odds & Ends Art Auction  Detroit News

Disney concept art, audio-animatronics available for bidding during upcoming auction - KTLA Los Angeles
Disney concept art, audio-animatronics available for bidding during upcoming auction  KTLA Los Angeles

Wood panel from Titanic fetches more than $700k at Dallas auction - The Dallas Morning News
Wood panel from Titanic fetches more than $700k at Dallas auction  The Dallas Morning News

Iconic 'Titanic' door prop that saved Kate Winslet sells at auction for over $700K - KEYE TV CBS Austin
Iconic 'Titanic' door prop that saved Kate Winslet sells at auction for over $700K  KEYE TV CBS Austin

Treasury Auction Relief Rally and Month-End Support - Mortgage News Daily
Treasury Auction Relief Rally and Month-End Support  Mortgage News Daily

'Titanic' door sells for over $700k at auction - Entertainment Weekly News
'Titanic' door sells for over $700k at auction  Entertainment Weekly News

Charlie Russell's The Broken Rope highlights Scottsdale Art Auction | Scottsdale Independent - Daily Independent
Charlie Russell's The Broken Rope highlights Scottsdale Art Auction | Scottsdale Independent  Daily Independent

2024 fantasy baseball draft sheet: Downloadable auction values and stats for 650 players - The Athletic
2024 fantasy baseball draft sheet: Downloadable auction values and stats for 650 players  The Athletic

Letters from five former presidents to Tony Bennett are going up for auction - The Hill
Letters from five former presidents to Tony Bennett are going up for auction  The Hill

‘Titanic’ Door That Rose Used After The Sinking Tops Planet Hollywood Auction - Deadline
‘Titanic’ Door That Rose Used After The Sinking Tops Planet Hollywood Auction  Deadline

Titanic 'door' prop that kept Rose alive sells for $718,750 - BBC.com
Titanic 'door' prop that kept Rose alive sells for $718,750  BBC.com

Mixed Performance. Data Hurt. Auction Helped. Little Changed - Mortgage News Daily
Mixed Performance. Data Hurt. Auction Helped. Little Changed  Mortgage News Daily

Central Business District Property Going Up for Auction - Biz New Orleans
Central Business District Property Going Up for Auction  Biz New Orleans

Tony Bennett Auction To Feature Cartier, Rolex Watches - HODINKEE
Tony Bennett Auction To Feature Cartier, Rolex Watches  HODINKEE

Controversial 'Titanic' Prop Door Sells For $700K At Auction - The Daily Wire
Controversial 'Titanic' Prop Door Sells For $700K At Auction  The Daily Wire

Forrest Gump Nike Cortez Auction $57,000 - Complex
Forrest Gump Nike Cortez Auction $57,000  Complex

The Now Evening Auction at Sothebys Hong Kong on artnet - Artnet
The Now Evening Auction at Sothebys Hong Kong on artnet  Artnet

Tiki Hideaway Auction Boys & Girls Club of Santa Clarita Valley - Magazine of Santa Clarita
Tiki Hideaway Auction Boys & Girls Club of Santa Clarita Valley  Magazine of Santa Clarita

Dorothy's Recovered 'Wizard of Oz' Ruby Slippers Head to the Auction Block - Observer
Dorothy's Recovered 'Wizard of Oz' Ruby Slippers Head to the Auction Block  Observer

Titanic 'Door' Sells Big at Auction, Reignites Major Debate | TIME - TIME
Titanic 'Door' Sells Big at Auction, Reignites Major Debate | TIME  TIME

SOLD! 230-acre Iowa century farm brings nearly $4 million at auction - Successful Farming
SOLD! 230-acre Iowa century farm brings nearly $4 million at auction  Successful Farming

G-Dragon's mixed media art piece 'Youth is Flower' pulled from auction per the artist's request - allkpop
G-Dragon's mixed media art piece 'Youth is Flower' pulled from auction per the artist's request  allkpop

‘Titanic’ Door That Jack Tragically Couldn’t Fit on Nabs More Than $718,000 at Auction - Rolling Stone
‘Titanic’ Door That Jack Tragically Couldn’t Fit on Nabs More Than $718,000 at Auction  Rolling Stone

African art collection at center of Harris County controversy linked to Commissioner Rodney Ellis will be auctioned next week - KTRK-TV
African art collection at center of Harris County controversy linked to Commissioner Rodney Ellis will be auctioned next week  KTRK-TV

Copy Of Ken and Roberta Williams' Mystery House Set To Fetch Thousands At Auction - Time Extension
Copy Of Ken and Roberta Williams' Mystery House Set To Fetch Thousands At Auction  Time Extension

BTG fund wins Brazil power transmission auction's largest project - Nasdaq
BTG fund wins Brazil power transmission auction's largest project  Nasdaq

Sotheby’s to Sell Painting by Andy Warhol and Jean-Michel Basquiat - Observer
Sotheby’s to Sell Painting by Andy Warhol and Jean-Michel Basquiat  Observer

Tobey Maguire's Black Symbiote Suit From 'Spider-Man 3' Is Up for Auction - HYPEBEAST
Tobey Maguire's Black Symbiote Suit From 'Spider-Man 3' Is Up for Auction  HYPEBEAST

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