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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.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Wed. July / 28 / 2021

Mucha's 'The Stars' Gets Star Billing At Poster Auctions International Sale - Antiques and the Arts Online
Mucha's 'The Stars' Gets Star Billing At Poster Auctions International Sale  Antiques and the Arts Online

US auctions off ‘Pharma Bro’ Shkreli’s Wu-Tang album - The Mercury News
US auctions off ‘Pharma Bro’ Shkreli’s Wu-Tang album  The Mercury News

The Curious and Wonderful World of MDNR Land Auctions - thesuntimesnews.com
The Curious and Wonderful World of MDNR Land Auctions  thesuntimesnews.com

Sales down 20% at auto auctions last year, but bright spots remain - Auto Remarketing
Sales down 20% at auto auctions last year, but bright spots remain  Auto Remarketing

NY auctions off stolen Corvette recovered in Rochester. Here's how much it fetched. - Democrat & Chronicle
NY auctions off stolen Corvette recovered in Rochester. Here's how much it fetched.  Democrat & Chronicle

2021 Fantasy Football QB Auction Values: Dollar projections, rankings for quarterbacks - Sporting News
2021 Fantasy Football QB Auction Values: Dollar projections, rankings for quarterbacks  Sporting News

Magic: The Gathering Masques Tournament Packs Auction At Heritage - Bleeding Cool News
Magic: The Gathering Masques Tournament Packs Auction At Heritage  Bleeding Cool News

8-year-old boy from Missouri auctions hog for $19,000 to raise money for friend with brain tumor - WLS-TV
8-year-old boy from Missouri auctions hog for $19,000 to raise money for friend with brain tumor  WLS-TV

Kinship auction boasts plenty | News, Sports, Jobs - Fairmont Sentinel
Kinship auction boasts plenty | News, Sports, Jobs  Fairmont Sentinel

SCP Auctions to Offer Restored T206 Wagner - Sports Collectors Daily
SCP Auctions to Offer Restored T206 Wagner  Sports Collectors Daily

DNR auctioning off 97 properties next month, some with frontage on Lake Michigan - Midland Daily News
DNR auctioning off 97 properties next month, some with frontage on Lake Michigan  Midland Daily News

Missouri boy auctions prized hog for priceless friendship - WKRC TV Cincinnati
Missouri boy auctions prized hog for priceless friendship  WKRC TV Cincinnati

Video games break records at auction - Spectrum News
Video games break records at auction  Spectrum News

Habilitat holds auction to support workforce programs - KHON2
Habilitat holds auction to support workforce programs  KHON2

Agency to Auction Integrated Campaign as an NFT for U.K. Charity - Adweek
Agency to Auction Integrated Campaign as an NFT for U.K. Charity  Adweek

Pokémon TCG Black Star Movie Promo Mewtwo On Auction At Heritage - Bleeding Cool News
Pokémon TCG Black Star Movie Promo Mewtwo On Auction At Heritage  Bleeding Cool News

Lake frontage, train depot among 97 Michigan properties available in DNR auctions - MLive.com
Lake frontage, train depot among 97 Michigan properties available in DNR auctions  MLive.com

GMADA to e-auction of 40 commercial, residential properties from Aug 4 to 16 - Hindustan Times
GMADA to e-auction of 40 commercial, residential properties from Aug 4 to 16  Hindustan Times

DNR prepares to host auctions for 100 parcels of land - UpNorthLive.com
DNR prepares to host auctions for 100 parcels of land  UpNorthLive.com

Teen Auctions Off Puffy Dorito on eBay With Bids Coming in at $73,000 - Newsweek
Teen Auctions Off Puffy Dorito on eBay With Bids Coming in at $73,000  Newsweek

Nearly 100 parcels of Michigan land up for auction in August, September - WZZM13.com
Nearly 100 parcels of Michigan land up for auction in August, September  WZZM13.com

Online Auctions from Tiger Group and Tranzon Asset Advisors Offer Foreclosed Equipment & Real Estate of Major CBD Processor in Kentucky - PRNewswire
Online Auctions from Tiger Group and Tranzon Asset Advisors Offer Foreclosed Equipment & Real Estate of Major CBD Processor in Kentucky  PRNewswire

2021 Fantasy Football Defense Auction Values: Dollar projections, rankings for D/STs - Sporting News
2021 Fantasy Football Defense Auction Values: Dollar projections, rankings for D/STs  Sporting News

Tom Hanks' 1980 Toyota FJ40 Land Cruiser heads to auction - Motor Authority
Tom Hanks' 1980 Toyota FJ40 Land Cruiser heads to auction  Motor Authority

At the Manheim Auto Auction, used-car prices rise to record highs - The Philadelphia Inquirer
At the Manheim Auto Auction, used-car prices rise to record highs  The Philadelphia Inquirer

2021 Fantasy Football Kicker Auction Values: Dollar projections, rankings - Sporting News
2021 Fantasy Football Kicker Auction Values: Dollar projections, rankings  Sporting News

Rare Cuneiform Tablet Bearing Portion of Epic of Gilgamesh Forfeited to United States - Department of Justice
Rare Cuneiform Tablet Bearing Portion of Epic of Gilgamesh Forfeited to United States  Department of Justice

Sotheby’s and Christie’s Reimagined Auctions Pay Off - The New York Times
Sotheby’s and Christie’s Reimagined Auctions Pay Off  The New York Times

Judaica seized from Brooklyn auction house in probe of Holocaust loot - Sun Sentinel
Judaica seized from Brooklyn auction house in probe of Holocaust loot  Sun Sentinel

Kauai’s decaying Coco Palms draws 1 bid at foreclosure auction - Honolulu Star-Advertiser
Kauai’s decaying Coco Palms draws 1 bid at foreclosure auction  Honolulu Star-Advertiser

HiBid Auctions Generate Nearly $36 Million Last Week, with Jewelry, Rare Coins, and Antique Auctions Now Underway - PRNewswire
HiBid Auctions Generate Nearly $36 Million Last Week, with Jewelry, Rare Coins, and Antique Auctions Now Underway  PRNewswire

Best Online Coin Auctions of 2021 - Investopedia
Best Online Coin Auctions of 2021  Investopedia

Celtics legend Bill Russell to auction off prized memorabilia later this year - Boston.com
Celtics legend Bill Russell to auction off prized memorabilia later this year  Boston.com

Seized San Antonio properties allegedly tied to former Mexican governor heading to auction block - San Antonio Express-News
Seized San Antonio properties allegedly tied to former Mexican governor heading to auction block  San Antonio Express-News

Online Auctions from Tiger Group, Tranzon Asset Advisors Offer Assets of Major CBD Processor in KY - News - ABL Advisor
Online Auctions from Tiger Group, Tranzon Asset Advisors Offer Assets of Major CBD Processor in KY - News  ABL Advisor

Boy donates livestock auction proceeds to sick friend - WISHTV.com
Boy donates livestock auction proceeds to sick friend  WISHTV.com

Maquoketa Livestock opens Sept. 15 for its first auction under new ownership - bellevueheraldleader.com
Maquoketa Livestock opens Sept. 15 for its first auction under new ownership  bellevueheraldleader.com

Russia’s Hermitage Museum Will Auction Off NFTs of Prized Works by Leonardo, Van Gogh, and Other Artists in Its Collection - artnet News
Russia’s Hermitage Museum Will Auction Off NFTs of Prized Works by Leonardo, Van Gogh, and Other Artists in Its Collection  artnet News

Friends of Library Book Auction | Through Saturday, July 31 | The South Pasadenan | South Pasadena News - The South Pasadenan
Friends of Library Book Auction | Through Saturday, July 31 | The South Pasadenan | South Pasadena News  The South Pasadenan

Steve Jobs memorabilia set to go on auction - iLounge
Steve Jobs memorabilia set to go on auction  iLounge

A Jewish library’s treasure surfaced at auction. How did it get there? - The Jerusalem Post
A Jewish library’s treasure surfaced at auction. How did it get there?  The Jerusalem Post

U.S. Treasury auctions to provide demand 'gut check' as yields fall - Reuters
U.S. Treasury auctions to provide demand 'gut check' as yields fall  Reuters

Heritage Auctions Entertainment & Music Memorabilia Signature Auction - NBC 5 Dallas-Fort Worth
Heritage Auctions Entertainment & Music Memorabilia Signature Auction  NBC 5 Dallas-Fort Worth

Sotheby's Auctions 101-Carat Diamond, Will Accept Bitcoin, Ether - Bloomberg
Sotheby's Auctions 101-Carat Diamond, Will Accept Bitcoin, Ether  Bloomberg

‘Top Gear’ Host Richard Hammond Is Selling Rare Cars and Bikes From His Private Collection - Robb Report
‘Top Gear’ Host Richard Hammond Is Selling Rare Cars and Bikes From His Private Collection  Robb Report

Unsold properties have a second chance through post-auction online sales - Newton County Times
Unsold properties have a second chance through post-auction online sales  Newton County Times

YARD SALE: Sat., July 31, 8-1pm 314 | Auctions, Estate & Garage Sales | themercury.com - Manhattan Mercury
YARD SALE: Sat., July 31, 8-1pm 314 | Auctions, Estate & Garage Sales | themercury.com  Manhattan Mercury

Five-Year Note Auction Attracts Average Demand - Nasdaq
Five-Year Note Auction Attracts Average Demand  Nasdaq

Super Mario 64 Video Game Sells for $1.56 Million - The New York Times
Super Mario 64 Video Game Sells for $1.56 Million  The New York Times

Coca-Cola to Auction Its First-Ever NFT Collectibles on International Friendship Day - Yahoo Finance
Coca-Cola to Auction Its First-Ever NFT Collectibles on International Friendship Day  Yahoo Finance

Bernalillo County 4-H holds auction on July 30 - KRQE News 13
Bernalillo County 4-H holds auction on July 30  KRQE News 13

DNR selling land at online auctions including land in NE Michigan – WBKB 11 - WBKB-TV
DNR selling land at online auctions including land in NE Michigan – WBKB 11  WBKB-TV

Auburn Auction Park Could Transform Into New Sports Complex - WFYI
Auburn Auction Park Could Transform Into New Sports Complex  WFYI

Ohtani All-Star jersey sets auction record - MLB.com
Ohtani All-Star jersey sets auction record  MLB.com

Good stuff gone: Older used trucks show up in June auctions - FreightWaves
Good stuff gone: Older used trucks show up in June auctions  FreightWaves

Selfridge auction to include Goodyear Blimp ride, B-17 bomber flight, tank driving experience - Detroit Free Press
Selfridge auction to include Goodyear Blimp ride, B-17 bomber flight, tank driving experience  Detroit Free Press

36th Annual Coeur d’Alene Art Auction Brings Important Works of Western and American Art - EIN News
36th Annual Coeur d’Alene Art Auction Brings Important Works of Western and American Art  EIN News

Summer Auction To Benefit The Wayside Inn Foundation August 12-20 – Framingham SOURCE - framinghamsource.com
Summer Auction To Benefit The Wayside Inn Foundation August 12-20 – Framingham SOURCE  framinghamsource.com

Riverside Self Storage is hereby holding an auction located at - St. Helens Chronicle
Riverside Self Storage is hereby holding an auction located at  St. Helens Chronicle

Alpenrose Dairy auction: See iconic items for sale from fabled Storybook Lane - OregonLive
Alpenrose Dairy auction: See iconic items for sale from fabled Storybook Lane  OregonLive

For auction: Phillips Seafood mansion in Annapolis boasts 7 bedrooms, 8 baths, 1 secret tunnel; most expensive home available in Maryland - Baltimore Sun
For auction: Phillips Seafood mansion in Annapolis boasts 7 bedrooms, 8 baths, 1 secret tunnel; most expensive home available in Maryland  Baltimore Sun

UNM holds athletic gear & equipment online auction - KRQE News 13
UNM holds athletic gear & equipment online auction  KRQE News 13

Jewish artifacts taken by Nazis in Holocaust seized at New York auction house, feds say - USA TODAY
Jewish artifacts taken by Nazis in Holocaust seized at New York auction house, feds say  USA TODAY

'Ladies Favorite' & Stomach Bitters Bottle Lead Glass Works Auction - Antiques and the Arts Online
'Ladies Favorite' & Stomach Bitters Bottle Lead Glass Works Auction  Antiques and the Arts Online

The Gun That Killed Billy The Kid Is Going Up For Auction. Starting Bid: $2 Million - NPR
The Gun That Killed Billy The Kid Is Going Up For Auction. Starting Bid: $2 Million  NPR

Late Rush drummer Neil Peart's classic sports car collection headed to auction - KABC-TV
Late Rush drummer Neil Peart's classic sports car collection headed to auction  KABC-TV

Horry County PD holds auction for unclaimed and abandoned items - Abccolumbia.com
Horry County PD holds auction for unclaimed and abandoned items  Abccolumbia.com

The U.S. Had a Weak 30-Year Auction Because Long-Dated Bonds Look Pricey - Barron's
The U.S. Had a Weak 30-Year Auction Because Long-Dated Bonds Look Pricey  Barron's

Mid-State Fair Industrial Arts Auction brings in $102000 - Paso Robles Daily News
Mid-State Fair Industrial Arts Auction brings in $102000  Paso Robles Daily News

Heritage Global Partners to Conduct its Fourth Online Auction on Behalf of Halliburton - Yahoo Finance
Heritage Global Partners to Conduct its Fourth Online Auction on Behalf of Halliburton  Yahoo Finance

Laughs and Generosity Set the Pace at Possible Dreams Auction - The Vineyard Gazette - Martha's Vineyard News
Laughs and Generosity Set the Pace at Possible Dreams Auction  The Vineyard Gazette - Martha's Vineyard News

USA Today Ventures partners with Russo and Steele auctions - RACER
USA Today Ventures partners with Russo and Steele auctions  RACER

Camp Knutson quilt auction set for Aug. 14 - Brainerd Dispatch
Camp Knutson quilt auction set for Aug. 14  Brainerd Dispatch

COSL announces Faulkner County tax auction | News | thecabin.net - Log Cabin Democrat
COSL announces Faulkner County tax auction | News | thecabin.net  Log Cabin Democrat

Alleged Billy the Kid murder weapon up for auction - KRQE News 13
Alleged Billy the Kid murder weapon up for auction  KRQE News 13

Banksy’s ‘Spike’ Is Heading to Auction as an NFT - Yahoo Lifestyle
Banksy’s ‘Spike’ Is Heading to Auction as an NFT  Yahoo Lifestyle

TREASURIES-Yields hold above five-month lows after solid auctions, before CPI - Reuters
TREASURIES-Yields hold above five-month lows after solid auctions, before CPI  Reuters

Stunning 1970 Ford Mustang Boss 429 Heads To Auction - Ford Authority
Stunning 1970 Ford Mustang Boss 429 Heads To Auction  Ford Authority

Mitchell City Council to consider switching city's surplus auction to online format - The Daily Republic
Mitchell City Council to consider switching city's surplus auction to online format  The Daily Republic

MCC offering plenty of gear in this week's auction - McCook Daily Gazette
MCC offering plenty of gear in this week's auction  McCook Daily Gazette

Machinery Pete TV: Auction Edition - - RFD-TV
Machinery Pete TV: Auction Edition -  RFD-TV

Heritage August 15 Classic Commemorative Coin Showcase Auction Open for Bidding - CoinWeek
Heritage August 15 Classic Commemorative Coin Showcase Auction Open for Bidding  CoinWeek

Steve Cohen Group Buys Sports-Collectible Shop Goldin Auctions - Bloomberg
Steve Cohen Group Buys Sports-Collectible Shop Goldin Auctions  Bloomberg

Auction Sales Rebound to Pre-Pandemic Levels with Boost from Asia: Report - ARTnews
Auction Sales Rebound to Pre-Pandemic Levels with Boost from Asia: Report  ARTnews

US treasury to auction off $61 billion a 5-year notes at the top of the hour - ForexLive
US treasury to auction off $61 billion a 5-year notes at the top of the hour  ForexLive

Madison County to Sell Surplus Items at Auction - RiverBender.com
Madison County to Sell Surplus Items at Auction  RiverBender.com

Arrowhead projected to go for $20k at Ashland auction reminds locals to check their collection - Ashland Source
Arrowhead projected to go for $20k at Ashland auction reminds locals to check their collection  Ashland Source

How much intrigue is behind Kusama’s parachain auctions? - Cointelegraph
How much intrigue is behind Kusama’s parachain auctions?  Cointelegraph

Horry County police to host auction for unclaimed, abandoned items - WMBF
Horry County police to host auction for unclaimed, abandoned items  WMBF

10 Standout Auction Lots on Artsy This Week - Artsy
10 Standout Auction Lots on Artsy This Week  Artsy

Steve Jobs' 1973 job application is up for auction as an NFT - CNBC
Steve Jobs' 1973 job application is up for auction as an NFT  CNBC

Rare Honda NSX-R Is Heading For Auction, Starting Price Is… $408K! - CarScoops
Rare Honda NSX-R Is Heading For Auction, Starting Price Is… $408K!  CarScoops

World record for most expensive video game auction is now $1.56 million [Updated] - Ars Technica
World record for most expensive video game auction is now $1.56 million [Updated]  Ars Technica

Gun used to kill outlaw Billy the Kid to be sold at auction next month - Atlanta Journal Constitution
Gun used to kill outlaw Billy the Kid to be sold at auction next month  Atlanta Journal Constitution

New auction company at Lake Anna | Local | thecentralvirginian.com - The Central Virginian
New auction company at Lake Anna | Local | thecentralvirginian.com  The Central Virginian

West Virginia Treasurer Raises Nearly $140K In Firearms Auction - CBS Pittsburgh
West Virginia Treasurer Raises Nearly $140K In Firearms Auction  CBS Pittsburgh

Mintable Honors Comic Legend Stan Lee With NFT Tribute Auction - HYPEBEAST
Mintable Honors Comic Legend Stan Lee With NFT Tribute Auction  HYPEBEAST

Justin and Hailey Bieber dress up for art gallery auction also attended by Kehlani in my favourite outfit of t - LaineyGossip
Justin and Hailey Bieber dress up for art gallery auction also attended by Kehlani in my favourite outfit of t  LaineyGossip

WV state treasurer’s office raises nearly $140K in unclaimed firearms auction - WVNS-TV
WV state treasurer’s office raises nearly $140K in unclaimed firearms auction  WVNS-TV

Super Mario 64's Record-Breaking Sale Stuns Industry Experts - NPR
Super Mario 64's Record-Breaking Sale Stuns Industry Experts  NPR

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