In my last few eBay auction tutorials, we talked about what you can sell to make money on eBay and start your own home business. But whether it’s an ebook packed with your favorite recipes or custom coffee cups, one of the most important decisions you have to make is the price of your item.
Â As we all know, the highest bidder in an eBay auction wins the item. There’s also a “Buy It Now” feature on Ebay you can use to sell your item for a set price rather than auctioning it off, and that’s the way I sell all of my items. If you use “Buy It Now”, the purchaser can decide to pay your asking price and purchase the item immediately, rather than having to wait for the end of the auction.
If you’re selling a physical item, you have to take inventory and shipping costs into account, and we all have to pay various fees on eBay in order to sell items there. These fees vary depending on how much your item is sold for. If you’re selling a physical item, don’t try to cut the price of the item and then charge a lot for shipping. For example, there’s a certain type of computer cable I occasionally buy on eBay, and I’ll see the same cable listed at $5 from one vendor and 99 cents from another. Why? The vendor selling it for 99 cents asks $8.50 for shipping! EBay is really starting to crack down on this behavior, and frankly, it’s a really good way to discourage customers from making future purchases.
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