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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 Tue. July / 05 / 2022

London Modern and Contemporary Auctions: A Market Minus the Froth - The New York Times
London Modern and Contemporary Auctions: A Market Minus the Froth  The New York Times

Reverse auction highlights challenges of bringing broadband to rural areas - Scottsbluff Star Herald
Reverse auction highlights challenges of bringing broadband to rural areas  Scottsbluff Star Herald

Spotlight: Brazil's busy program of infra auctions for 2H22 - BNamericas English
Spotlight: Brazil's busy program of infra auctions for 2H22  BNamericas English

Over 185 parcels of surplus state-managed land available via online auctions in August, September - Michigan (.gov)
Over 185 parcels of surplus state-managed land available via online auctions in August, September  Michigan (.gov)

Moon Knight #1 CGC Copy Taking BIds At Heritage Auctions - Bleeding Cool News
Moon Knight #1 CGC Copy Taking BIds At Heritage Auctions  Bleeding Cool News

Antique vampire-slaying kit sparks international bidding war at auction - CNN
Antique vampire-slaying kit sparks international bidding war at auction  CNN

Ryan Lochte's six Olympic silver, bronze medals put up for auction, will benefit charity - ESPN
Ryan Lochte's six Olympic silver, bronze medals put up for auction, will benefit charity  ESPN

Marvel's Golden Age Miss America Comics #1 in High Grade, at Auction - Bleeding Cool News
Marvel's Golden Age Miss America Comics #1 in High Grade, at Auction  Bleeding Cool News

Marvel Comics Classic Kull, Conan and Red Sonja, Up for Auction - Bleeding Cool News
Marvel Comics Classic Kull, Conan and Red Sonja, Up for Auction  Bleeding Cool News

Biden administration oil, gas auctions kick off with thin industry response - Reuters.com
Biden administration oil, gas auctions kick off with thin industry response  Reuters.com

Artcurial To Host Auctions In Monaco Featuring High Jewelry, Men's And Women's Watches - Forbes
Artcurial To Host Auctions In Monaco Featuring High Jewelry, Men's And Women's Watches  Forbes

Kwame Kilpatrick crowdfunds new home • Dead body discovered in Chesterfield ditch • Land and vehicle auctions - FOX 2 Detroit
Kwame Kilpatrick crowdfunds new home • Dead body discovered in Chesterfield ditch • Land and vehicle auctions  FOX 2 Detroit

The Weird Horror of Paul Gattuso's Red Seal Comics Covers, at Auction - Bleeding Cool News
The Weird Horror of Paul Gattuso's Red Seal Comics Covers, at Auction  Bleeding Cool News

Company wants to take tax auctions online - Gwcommonwealth
Company wants to take tax auctions online  Gwcommonwealth

Elvis Presley's Childhood Home Is Going Up For Auction - Vanity Fair
Elvis Presley's Childhood Home Is Going Up For Auction  Vanity Fair

BMO and Jefferies Sign On to Platform Bringing AI Auctions to Stocks - Bloomberg
BMO and Jefferies Sign On to Platform Bringing AI Auctions to Stocks  Bloomberg

Carter Center Weekend to Feature Live, Silent, and Online Auctions - The Carter Center
Carter Center Weekend to Feature Live, Silent, and Online Auctions  The Carter Center

Reinventing Wine Auctions: Napa Valley Succeeds With $1.5 Million Raised At 2022 New, More Inclusive Auction Format - Forbes
Reinventing Wine Auctions: Napa Valley Succeeds With $1.5 Million Raised At 2022 New, More Inclusive Auction Format  Forbes

Rocketman and Rocketgirl in the Rare Scoop Comics #3, Up for Auction - Bleeding Cool News
Rocketman and Rocketgirl in the Rare Scoop Comics #3, Up for Auction  Bleeding Cool News

19th-Century Summer Estate on Martha’s Vineyard Heads to Auction - Mansion Global
19th-Century Summer Estate on Martha’s Vineyard Heads to Auction  Mansion Global

The Origin of Dr. Fate in More Fun Comics #67, Up for Auction - Bleeding Cool News
The Origin of Dr. Fate in More Fun Comics #67, Up for Auction  Bleeding Cool News

Auctions How Are Auction Houses Preparing For A Potential Economic Downturn? - HODINKEE
Auctions How Are Auction Houses Preparing For A Potential Economic Downturn?  HODINKEE

Auction Calendar: June 24, 2022 - Wisconsin State Farmer
Auction Calendar: June 24, 2022  Wisconsin State Farmer

Central Bank of Egypt auctions over $1bln debt instruments on Monday - ZAWYA
Central Bank of Egypt auctions over $1bln debt instruments on Monday  ZAWYA

GSA Auctions Another Series of Crypto, Valued at $268K - Nextgov
GSA Auctions Another Series of Crypto, Valued at $268K  Nextgov

Barrett-Jackson Celebrates Fourth of July Weekend With More Than $49.1 Million in Sales at 2022 Las Vegas Auction, Including World Record $1.65 Million 1970 HEMI Superbird - Business Wire
Barrett-Jackson Celebrates Fourth of July Weekend With More Than $49.1 Million in Sales at 2022 Las Vegas Auction, Including World Record $1.65 Million 1970 HEMI Superbird  Business Wire

PJM auction aided by ample electricity supplies in region - delawarebusinessnow.com
PJM auction aided by ample electricity supplies in region  delawarebusinessnow.com

Auction Calendar: June 17, 2022 - Wisconsin State Farmer
Auction Calendar: June 17, 2022  Wisconsin State Farmer

1955 Ferrari 410 Sport Spider at RM Sotheby's Auction | HYPEBEAST - HYPEBEAST
1955 Ferrari 410 Sport Spider at RM Sotheby's Auction | HYPEBEAST  HYPEBEAST

HiBid.com Auctions Include Classic Cars, Collectible Sports Cards and Estate Items; Over $47M Sold in Last Week's Auctions - PR Newswire
HiBid.com Auctions Include Classic Cars, Collectible Sports Cards and Estate Items; Over $47M Sold in Last Week's Auctions  PR Newswire

The Art Angle Podcast: Re-Air: The Secret Codes of World-Class Art Auctions, Demystified - artnet News
The Art Angle Podcast: Re-Air: The Secret Codes of World-Class Art Auctions, Demystified  artnet News

Bolivia launches tender to identify frequencies for future 5G auction - BNamericas English
Bolivia launches tender to identify frequencies for future 5G auction  BNamericas English

TPD abandoned and forfeited vehicle auction - WTVG
TPD abandoned and forfeited vehicle auction  WTVG

Selected Western livestock auctions | Livestock Auctions | capitalpress.com - Capital Press
Selected Western livestock auctions | Livestock Auctions | capitalpress.com  Capital Press

Online surplus item auction now live, Alabama agency says - AL.com
Online surplus item auction now live, Alabama agency says  AL.com

1947 Anti-Communist Comic Book Is This Tomorrow, Up for Auction - Bleeding Cool News
1947 Anti-Communist Comic Book Is This Tomorrow, Up for Auction  Bleeding Cool News

ELITE AUCTIONS Announces Auction of $5.25 Million 4-Story Beach House & Vacation Rental Business in Panama City Beach, FL, July 2 - PR Web
ELITE AUCTIONS Announces Auction of $5.25 Million 4-Story Beach House & Vacation Rental Business in Panama City Beach, FL, July 2  PR Web

BigIron Auctions hosting Butch Siebenaler Muscle Car Collection Auction - GlobeNewswire
BigIron Auctions hosting Butch Siebenaler Muscle Car Collection Auction  GlobeNewswire

LeBron James Triple Logoman Card Auctions for Record $2.4M Price - Bleacher Report
LeBron James Triple Logoman Card Auctions for Record $2.4M Price  Bleacher Report

eBay Live is the online auction site's new livestream sales platform - The Verge
eBay Live is the online auction site's new livestream sales platform  The Verge

Next Chapter of Karl Lagerfeld Auctions Highlights Couturier's Sketches - WWD
Next Chapter of Karl Lagerfeld Auctions Highlights Couturier's Sketches  WWD

SEC Weighs Sending Retail Stock Orders to Auctions for Execution - Bloomberg
SEC Weighs Sending Retail Stock Orders to Auctions for Execution  Bloomberg

Penn State Extension expands resources for growers at produce auctions - Pennsylvania State University
Penn State Extension expands resources for growers at produce auctions  Pennsylvania State University

PHOTOS: Bra Auction Returns - 27 East - 27east.com
PHOTOS: Bra Auction Returns - 27 East  27east.com

Norfolk begins selling off vacant lots through online auction - The Virginian-Pilot
Norfolk begins selling off vacant lots through online auction  The Virginian-Pilot

Dead Roaches That Ate Moon Dust Went Up for Auction. Then NASA Objected. - The New York Times
Dead Roaches That Ate Moon Dust Went Up for Auction. Then NASA Objected.  The New York Times

Bifrost releases upgraded SALP 2.0 after protocol helped secure $450M via parachain auctions - Cointelegraph
Bifrost releases upgraded SALP 2.0 after protocol helped secure $450M via parachain auctions  Cointelegraph

A Drawing Discovered at Auction Is a Part of Dutch History - The New York Times
A Drawing Discovered at Auction Is a Part of Dutch History  The New York Times

Dinner, auction for Dale Hull and family set for Saturday night - Coveleaderpress
Dinner, auction for Dale Hull and family set for Saturday night  Coveleaderpress

The Horror of Ribage Publishing's Crime Mysteries, Up for Auction - Bleeding Cool News
The Horror of Ribage Publishing's Crime Mysteries, Up for Auction  Bleeding Cool News

After The One auction flopped, lenders feud over who gets paid - Los Angeles Times
After The One auction flopped, lenders feud over who gets paid  Los Angeles Times

Sotheby’s CEO on Why the Art Market Is Soaring - The Wall Street Journal
Sotheby’s CEO on Why the Art Market Is Soaring  The Wall Street Journal

First Appearance Of The Vision, Avengers #57, At Auction - Bleeding Cool News
First Appearance Of The Vision, Avengers #57, At Auction  Bleeding Cool News

Commonwealth's Online Heavy Equipment Auction to Feature More Than 280 Items for Sale to the Public Starting June 20 - Pennsylvania Pressroom
Commonwealth's Online Heavy Equipment Auction to Feature More Than 280 Items for Sale to the Public Starting June 20  Pennsylvania Pressroom

Rare portrait by Francis Bacon fetches $52.8 million at auction - CNN
Rare portrait by Francis Bacon fetches $52.8 million at auction  CNN

The Very First Batman Inc From 1955, Detective Comics #215 At Auction - Bleeding Cool News
The Very First Batman Inc From 1955, Detective Comics #215 At Auction  Bleeding Cool News

Upstart platforms, peer-to-peer sites squeeze auctions - Automotive News
Upstart platforms, peer-to-peer sites squeeze auctions  Automotive News

Artesian Builds auctions off PC hardware & more after bankruptcy filing - Dexerto
Artesian Builds auctions off PC hardware & more after bankruptcy filing  Dexerto

A’s fans can bid on memorable A’s experiences during inaugural Broadcast Auction on July 8 - NBC Sports
A’s fans can bid on memorable A’s experiences during inaugural Broadcast Auction on July 8  NBC Sports

Casting of Rodin's 'Thinker' fetches $11.1 million at Paris auction - CNN
Casting of Rodin's 'Thinker' fetches $11.1 million at Paris auction  CNN

Taiwan Private Collection Auction sells largest quantity of winning coffee - Global Coffee Report
Taiwan Private Collection Auction sells largest quantity of winning coffee  Global Coffee Report

Buying a Home at Auction? These Tips Will Help You Prepare Yourself. - Think Realty
Buying a Home at Auction? These Tips Will Help You Prepare Yourself.  Think Realty

What's new in Federation of BiH 's draft law on renewables? - Balkan Green Energy News
What's new in Federation of BiH 's draft law on renewables?  Balkan Green Energy News

Global interest in Saudi Arabia's mineral auctions surprises to upside - Hellenic Shipping News Worldwide
Global interest in Saudi Arabia's mineral auctions surprises to upside  Hellenic Shipping News Worldwide

Public Auction Scheduled To Clear Out Property Of RivCo Descendants - Patch
Public Auction Scheduled To Clear Out Property Of RivCo Descendants  Patch

1968 Chevrolet Corvette Sportwagen: Today's BaT Auction Pick - Car and Driver
1968 Chevrolet Corvette Sportwagen: Today's BaT Auction Pick  Car and Driver

ELITE AUCTIONS Announces July 9 Auction of $6.495 Million 6,000+ Sq Ft Bayfront Mansion in Sarasota, FL - PR Newswire
ELITE AUCTIONS Announces July 9 Auction of $6.495 Million 6,000+ Sq Ft Bayfront Mansion in Sarasota, FL  PR Newswire

Tennessee Smokies to auction off special jerseys for a good cause - WVLT
Tennessee Smokies to auction off special jerseys for a good cause  WVLT

JGB yields dip ahead of 10-year auction - Yahoo Finance
JGB yields dip ahead of 10-year auction  Yahoo Finance

Lukewarm interest in Chile's 2022 power auction - Renewables Now
Lukewarm interest in Chile's 2022 power auction  Renewables Now

'A piece of history for your house': Missouri auctions stone salvaged from Capitol Building - St. Louis Public Radio
'A piece of history for your house': Missouri auctions stone salvaged from Capitol Building  St. Louis Public Radio

Car of the Week: This ‘Stunningly Original’ 1938 Bugatti Type 57C Could Fetch up to $3.4 Million at Auction - Robb Report
Car of the Week: This ‘Stunningly Original’ 1938 Bugatti Type 57C Could Fetch up to $3.4 Million at Auction  Robb Report

Space Coast events: Car auction for Brevard Zoo, jazz on Merritt Island - Florida Today
Space Coast events: Car auction for Brevard Zoo, jazz on Merritt Island  Florida Today

5 Can’t-Miss Lots Coming to the Block at Sloane Street Auctions, Including a Covetable Pair of Joshua Reynolds Portraits - artnet News
5 Can’t-Miss Lots Coming to the Block at Sloane Street Auctions, Including a Covetable Pair of Joshua Reynolds Portraits  artnet News

STORAGE AUCTIONS - Columbia Star
STORAGE AUCTIONS  Columbia Star

Central Oregon ranchers, livestock auctions, face headwinds even as price for meat rises - The Bulletin
Central Oregon ranchers, livestock auctions, face headwinds even as price for meat rises  The Bulletin

Going Twice - Newnan Times-Herald
Going Twice  Newnan Times-Herald

Gibson Gives To Auction Guitars Signed By Darius Rucker, AC/DC’S Angus Young & More - uDiscover Music
Gibson Gives To Auction Guitars Signed By Darius Rucker, AC/DC’S Angus Young & More  uDiscover Music

World of Warcraft is changing how the auction house works to benefit smaller servers - PC Gamer
World of Warcraft is changing how the auction house works to benefit smaller servers  PC Gamer

1995 Mazda Miata with a Modded LS1 Transplant Is Today's Bring a Trailer Auction Pick - Car and Driver
1995 Mazda Miata with a Modded LS1 Transplant Is Today's Bring a Trailer Auction Pick  Car and Driver

Leland Little Auctions expands Hillsborough gallery (Photos) - Triangle Business Journal - The Business Journals
Leland Little Auctions expands Hillsborough gallery (Photos) - Triangle Business Journal  The Business Journals

4-H Livestock Auction brings in 17% more money than last year's event - The Republic
4-H Livestock Auction brings in 17% more money than last year's event  The Republic

SLO Co. DA's office auctions off expensive luxury items seized during embezzlement investigation - KSBY News
SLO Co. DA's office auctions off expensive luxury items seized during embezzlement investigation  KSBY News

Japan's Offshore Wind Public Auction Process - The National Law Review
Japan's Offshore Wind Public Auction Process  The National Law Review

ACT house prices are 'flattening out' as auction clearance rates hit lowest level since 2020 - ABC News
ACT house prices are 'flattening out' as auction clearance rates hit lowest level since 2020  ABC News

Mecum Auctions Orlando Summer Special coming in July - Orlando Sentinel
Mecum Auctions Orlando Summer Special coming in July  Orlando Sentinel

Over $38.4 Million Sold Through HiBid.com in Last Week's Auctions, with Jewelry, Gold Bullion, and More Now Up for Bidding - PR Newswire
Over $38.4 Million Sold Through HiBid.com in Last Week's Auctions, with Jewelry, Gold Bullion, and More Now Up for Bidding  PR Newswire

Bonhams’s Shopping Spree Continues as It Acquires Its Fourth Auction House This Year - artnet News
Bonhams’s Shopping Spree Continues as It Acquires Its Fourth Auction House This Year  artnet News

Modern Times Auction Scheduled for June 17, Sale Hearing Set for June 20 - Brewbound.com
Modern Times Auction Scheduled for June 17, Sale Hearing Set for June 20  Brewbound.com

Crypto Crash: One-Off Chevy Corvette Z06 NFT Combo Gets Zero Bids - MotorTrend
Crypto Crash: One-Off Chevy Corvette Z06 NFT Combo Gets Zero Bids  MotorTrend

Junior Livestock Auction Is Saturday Afternoon At Fairgrounds - MyMotherLode.com
Junior Livestock Auction Is Saturday Afternoon At Fairgrounds  MyMotherLode.com

Prohibited birds from within flu quarantine zone sold at livestock auction, police respond - LNP | LancasterOnline
Prohibited birds from within flu quarantine zone sold at livestock auction, police respond  LNP | LancasterOnline

Mecum Auto Auctions returns to Tulsa for second year - KTUL
Mecum Auto Auctions returns to Tulsa for second year  KTUL

3 ways to dominate with Google Auction Insights and search intelligence - Search Engine Land
3 ways to dominate with Google Auction Insights and search intelligence  Search Engine Land

Neoenergia wins lots in Brazil's transmission auction - Renewables Now
Neoenergia wins lots in Brazil's transmission auction  Renewables Now

Record Sale: Prototype Ford Capri Breaks Auction Record - HotCars
Record Sale: Prototype Ford Capri Breaks Auction Record  HotCars

Leica Prototype Sells for a Record $15 Million at Auction - Barron's
Leica Prototype Sells for a Record $15 Million at Auction  Barron's

Celebrating “Le Grand Hubert”—Inside the Givenchy Auction at Christie’s Paris - Vogue
Celebrating “Le Grand Hubert”—Inside the Givenchy Auction at Christie’s Paris  Vogue

WEEK OF LUXURY AUCTIONS AND EXHIBITIONS AT DOYLE BEGINS JUNE 18 - PR Newswire
WEEK OF LUXURY AUCTIONS AND EXHIBITIONS AT DOYLE BEGINS JUNE 18  PR Newswire

Clinton Co. foreclosure auction being held | News | pressrepublican.com - Plattsburgh Press Republican
Clinton Co. foreclosure auction being held | News | pressrepublican.com  Plattsburgh Press Republican

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