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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 Mon. June / 27 / 2022

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Society Notebook: Boys & Girls Clubs benefit from auctions at brewery  Press Herald

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Dozens of cars, trucks, more available at upcoming Detroit police abandoned vehicle auctions  FOX 2 Detroit

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

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Heritage Auctions Offers Enola Gay Logbook  Fine Books & Collections Magazine

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San Diego Comic-Con 2022 Badge Auctions to Benefit Museum  sdccblog.com

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Property auctions: Vendors eye private market as auctions cool  The Australian Financial Review

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Belgium auctions 5G licences for 1.2 billion euros  Reuters

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NASA to auction house: We want our cockroaches back  Star Tribune

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

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

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Dmitry Muratov auctions Nobel prize for $103.5M for Ukrainian refugees  The Washington Post

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Miners are dumping GPUs via livestreamed auctions  PC Gamer

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Week in Review: Ellison, Auctions, and Hamptons Alternatives  Mansion Global

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Stock up spectrum in 5G auctions: Ericsson | Mint  Mint

Propstore auctions rare screen-used 'Red Leader' X-wing model from 'Star Wars: A New Hope' (exclusive) - Space.com
Propstore auctions rare screen-used 'Red Leader' X-wing model from 'Star Wars: A New Hope' (exclusive)  Space.com

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The Rare Debut of Flame Girl in Wonderworld Comics #30, Up for Auction  Bleeding Cool News

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Nebraska's '100 Square Body' classic GM truck auction is first of its kind  Fox News

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Wonder Woman comic debut sold for $1.6M at auction  Fox Business

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Real estate e-auctions worth $41.33mln organized in Saudi since start of 2022  ZAWYA

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Paul McCartney's 1988 Gibson Les Paul Custom is up for auction  Guitar.com

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Japan to resume offshore wind power auctions by year-end after revising rules  Reuters.com

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

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Poly Auction HK Presents Leading Asian Artists in 10th Anniversary Auctions  Ocula Magazine

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Nearly 800 Properties May Be Up For Auction | News, Sports, Jobs  Jamestown Post Journal

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Owl art online auction now open  Decorah Journal

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

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Orange County auction of surplus equipment offers tons of useful items  WESH 2 Orlando

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Rare Comic On Rare Stamps, Thrilling Adventures in Stamps, at Auction  Bleeding Cool News

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

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Tiger Group Reaches Major Milestones at Audio/Visual Auctions & Private Treaty Sales in 1H/2022 - News  ABL Advisor

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Centrica Pulls Out of Energy Provider Bulb's Auction, FT Reports  Bloomberg

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Auction Calendar: June 24, 2022  Wisconsin State Farmer

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

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

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Batman: The Dark Knight Returns #1 Original Cover Art Auctions For $2.4 Million - IGN  IGN

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County Police to Auction Off Cars, Trucks, Motorcycles  East Hampton Star

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

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Spectacular Tiffany Studios lamp brings record $541K at Morphy's June 8-10 Fine & Decorative Arts Auction  ArtfixDaily

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On the block: Land Board says it will auction McCall's Cougar Island  boisedev.com

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VHS tape of ‘Back to the Future’ fetches $75,000 at auction  Fortune

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

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'A piece of history for your house': Missouri auctions stone salvaged from Capitol Building • Missouri Independent  Missouri Independent

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

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SEC Weighs Sending Retail Stock Orders to Auctions for Execution  Bloomberg

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Mansion Global Daily: Perks to Selling Through Auctions; a Grand English Country House and More  Mansion Global

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Auction Calendar: June 3, 2022  Wisconsin State Farmer

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Record Sale: Prototype Ford Capri Breaks Auction Record  HotCars

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‘Last surviving’ Redbird NYC subway car hits auction block for $6.5K  New York Post

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Factbox: Germany's emergency gas auction plan  Reuters.com

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Buffett's Last Lunch Auction Draws Record $19 Million Bid  Bloomberg

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Big Slick KC returns with a special auction item for Chiefs fans  Chiefs Wire

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

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Leonardo DiCaprio donates hefty amount at star-studded auction in NY  Geo News

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Online auction scams: Tips to avoid being swindled on bids for big-ticket items  WLS-TV

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BMW 507 Series II Roadster Kept In A Garage For 43 Years Heads To Auction  BMWBLOG

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Karakurt Extortion Group Auctions Data for Ransom | Robinson+Cole Data Privacy + Security Insider - JDSupra  JD Supra

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Coal ministry receives 38 bids for auction of coal mines for commercial mining  Business Today

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Janesville Art League to auction off locally made “Heart Arts” for Ukraine  WMTV – NBC15

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Artesian Builds auctions thousands of PC components to pay off bankruptcy  Wccftech

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

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Modern Times: Court Records Replay Heated Auction, Illustrate Brewery's Expenses  Brewbound.com

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Red rose from bouquet given to Jackie Kennedy at Dallas Love Field in 1963 to be sold at auction  WFAA.com

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

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NYC Council Repealed Regulations Affecting the Auction Industry  The National Law Review

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New York Watch Auctions Summer 2022 Top Lots  HODINKEE

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

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India's much-anticipated 5G spectrum auction likely to see subdued response  FierceWireless

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Texas Thoroughbred Association Clarifies Status Of Auctions As HISA Conflict Continues - Horse Racing News  Paulick Report

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LeBron James Triple Logoman trading card expected to set record at auction  CNN

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Russian Journalist to Auction Nobel Medal to Benefit Ukraine  The New York Times

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End of an era: Dan Magnuszewski leaves ACV Auctions  The Business Journals

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Sean Connery's 'James Bond' Aston Martin DB5 is up for auction—and it could sell for nearly $2 million  CNBC

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Post Holdings Announces Modified Dutch Auction Cash Tender Offer for 4.625% Senior Notes Due 2030 and 4.50% Senior Notes Due 2031  GlobeNewswire

Last Call! MGA Drive The Future Auction Closes At 5pm Today - Metropolitan Golf Association
Last Call! MGA Drive The Future Auction Closes At 5pm Today  Metropolitan Golf Association

STORAGE AUCTIONS - Columbia Star
STORAGE AUCTIONS  Columbia Star

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Sports Memorabilia From Superstars Like Muhammad Ali, Michael Jordan and More Up for Auction  NBC Southern California

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Cale Makar Rookie Card Sales, Hottest eBay Auctions  Sports Collectors Daily

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Car of the Week: Made of Wood, This 1924 Hispano Suiza Racer Could Fetch $12 Million at Auction  Robb Report

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1990 BMW 325i Sedan Is Today's Bring a Trailer Auction Pick  Car and Driver

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380 Auction continues to rely on low prices, good quality, variety of goods — and family touch  TribLIVE

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9 cars catch fire at Insurance Auto Auctions in Suffolk  News 3 WTKR Norfolk

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Russian's seized $75M superyacht will be first up for auction: report  Business Insider

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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

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1995 Ford F-250 XLT SuperCab Is Our Bring a Trailer Auction Pick of the Day  Car and Driver

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The world's largest bottle of whiskey sold for $1.4 million at auction  CNN

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Concierge Auctions to rebrand with Sotheby’s name attached  Inman

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HK Keller Auctions Announce Your Chance to Bid on Rare Autograph Collection  PR Newswire

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Solar Philippines takes 70% of the DoE’s Green Energy Auction Program capacity  Philstar.com

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

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Silver Dollar City auctions Celebration City items  KOLR - OzarksFirst.com

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