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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.
MORE RESOURCES updated Thu. February / 09 / 2012
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College show a dress-up affairVictoria Times ColonistIt includes food, music, games, prizes and auctions. Casino Royale has a James Bond theme, so guests are encouraged to wear tuxedos and gowns. The decor of this year's fundraiser will bring to mind Montenegro, one of the settings of the 2006 Casino ... |
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Kickbacks row: AP proceeds to review excise policyZee News"The current system of auction (of liquor shops) is flawed. It needs to be revised...we are on the job," Mopidevi told newsmen here today. A team of senior Excise Department officials visited Tamil Nadu recently to study the excise policy in vogue ...and more » |
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Hart, S - Superfast BroadbandDeHavilland (press release) (subscription)In reply, Mr Hart asked about what could be done to help those left out of the plans. Responding, Mr Hunt said that Ofcom's announcement for 4G spectrum auctions would mean that 97 per cent of the country would be reached, but more should continue to ...and more » |
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Muckdogs planning for Hot Stove eventThe Daily News OnlineBATAVIA — The Genesee County Baseball Club will conduct its annual Batavia Muckdogs Hot Stove dinner and auction on Friday, March 2, 2012, from 5:30 to 8:30 pm at Terry Hills Golf Course and Banquet Facilities at 5122 Clinton St. Rd. Tickets are $25 ... |
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After kickbacks row, AP to review excise policyZee News"The next round of auctions is due in June. So we should have a new policy in place before that," the Minister added. "Syndicates are neither new nor restricted to liquor trade alone. Syndicates exist in sand and other businesses as well," Mopidevi ...and more » |
 Parda Phash |
Pay more for your favorite beverage!Parda PhashSo the prices of this variety of tea are expected to go up at auctions. It will push up CTC tea retail prices in the domestic market," Arun N. Singh, managing director and chief executive of tea major Goodricke Group, told reporters over phone.and more » |
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