Would you like to make $500 a month selling stuff on eBay? Earning $500 each month oneBayis extremely doable. Whether you sell full-time or part-time, you can reach your financial goal with the proper time and effort that you put into it.
For example, you can sell one item that would equal $500 in profit. Or, you can sell 50 items at $10 each to achieve $500 (not including the fees that it costs to sell on eBay).
Fifty items may seem like it would take a lot of time and work, but you might be surprised to find that it can be done in a matter of hours. The more you list, the faster you get at creating the listings.
Earning $500 per monthon eBay could take the place of getting a second or part-time job outside of the home; it’s a very achievable and realistic goal.
If you want to make $500 a month selling on eBay, here are some simple tips to help you achieve this goal.
1. Get Organized
Organizing your time is essential for successfully selling on eBay. Whether you’re looking to supplement your current income or you’re interested in selling on eBay full-time,managing your timeis the most important task that you can do for your business.
Managing your listed items in an organized manner will save you time and energy. It can also help prevent shipping errors later on down the road.
Purchasing a business planner and actually using it has been a life-saver for me, personally. I schedule days specifically for listing and sourcing new items. I highly recommend using a planner for anyone interested in merging their current life withselling productson eBay. As harmless as reselling sounds, it can create a lot of internal and environmental chaos if you don’t nip it in the bud immediately.
You can sell casually on eBay or open a store, which can increase your sales due to the algorithms they use. The more you list, the easier it is for buyers to find your items.
Also, keep track of your inventory! It is so easy to get into a disorganized scramble trying to find items you have sold if you are not organized.
2. Research
The very first step toselling on eBayis finding the potential value of an item. You want to make sure it’s worth your time to list an item before taking the time to clean it, photograph it, list it, and ship it.
Many people are misinformed when researching the value of an item. The correct way to find an item’s accurate potential value is by searching that item’s “sold” and “completed” listings on eBay.
Most people only search the active listings, which only shows you the asking price of an item. After you have explored the active listings, scroll down until you see “Show Only” on the left sidebar. Then, check “completed” and/or “sold” to get the item’s actual value.
Also, just because you can’t find an item on eBay in the active listings, recently sold, or completed, doesn’t mean that it’s worthless. It could mean that you have a rare item, which may make it ideal for listing as an auction where people bid, rather than a “Buy It Now” listing.
3. Start with Items Around Your House
You can get a head start on spring cleaning by sorting through your junk to sell on eBay! And by “junk,” I mean that it is junk or clutter to you but has the potential to be a treasure to someone else. You can earn a lot of money with an eBay side-hustle just by selling items from your own home! A great option for beginners is to list items from around the house that are easy to part with.
First, separate items into two piles: One for donations and one for eBay. Add only items to your “eBay pile” that you think may be of potential value.
Next, decide whether you would like to list the items as an auction-style listing with or without a reserve price, or as a Buy it Now option. Each option has a different fee structure, which varies from seller to seller. Start with a reasonable sale price, and then let it go from there.
4. Buy Low; Sell High
The ultimate key to being a successful eBay seller is this simple plan-of-attack: Buy Low; Sell High. Great places for resellers to score valuable yet cheap items are thrift stores, yard sales, auctions, estate sales, and flea markets.
But don’t forget about “regular” stores. Sometimes you can score nice items if they run a good sale or if you have a high-value coupon to use. Discount stores, such as Ollies, Marc’s, and Big Lots can also be great places to purchase stock that is in high demand online.
Keep in mind that just because you source an item that is lower in price than on eBay, that does not necessarily mean that you’ll still make a profit. Many eBay sellers overprice their items and then never sell them or will accept an offer for much less. So make sure you are researching the “completed” listings, not just what is currently listed.
5. Market Your Listings
Utilize your social media accountsto increase your sales on eBay. On each of your listings, eBay has conveniently added “Share” buttons for sites like Twitter, Facebook, LinkedIn, Pinterest, Messenger, and more. A little self-promotion can make a big impact on your sales.
Business cards are also beneficial in leading people to your eBay store. Hand them out to friends, family, and any acquaintances you run into. eBay is a popular website with a lot of traffic, but any added effort on your part can have a significant impact on your sales.
Another way to market your listings is to offer free shipping on your items. Don’t cheat yourself though; make sure that you’re not losing money by pricing items high enough to compensate for the free shipping. Some buyers are attracted to the word “free,” even if the item is priced slightly higher than other items.
6. Competition
There are other competitor platforms that you are up against nowadays. Facebook Marketplace, Amazon, Craigslist, Etsy, and Mercari – just to name a few! But luckily, eBay still seems to be the King when it comes to selling.
Many people price their items on other platforms by comparing them to what they sell for on eBay. I have even stopped at yard sales, where people have their things neatly organized on tables, with a print-out of what the item sells for on eBay! And this is the kicker: they wanted the exact same price! It’s comical because eBay has plenty of fees, whereas a yard sale has none. Not only that, but the time it takes to create a description, add and edit photos, properly organize the inventory, etc. all adds up! Time is money, after all. Needless to say, I did not purchase anything from that yard sale.
Conclusion
Selling on eBay takes a lot of work. Not only do you have to research the categories, whether it is certain name brands, electronics, vintage items, etc., but you have to provide excellent customer service as well. This is not only ethical, but it can help your business by encouraging customers to stop by your online store again. Your feedback score or seller rating on eBay is crucial. Negative feedback can significantly decrease your chances of attracting buyers.
Also, ensure that your product description is up to par so buyers can find your items easily. Creating an attractive profile can help lure potential buyers to your eBay listings.
In conclusion, be smart about purchasing items, be friendly towards your customers, stay organized, and you shall succeed! Selling on eBay can be a lot of work, but it also provides freedom from your typical run-of-the-mill jobs. It’s great for entrepreneurs or those who cannot work outside the home for various reasons.
Originally published January 11, 2017. Content updated July 2022.
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