HOW TO DECIDE WHAT TO SELL
How do you decide what types of items that you want to sell? Well, there are a few different ways to do this. The first thing I would do is make up a list of the items that you are considering for sale. Look at the items carefully, and write down information such as a description of the item, what you paid for it, the condition it is in, etc. Being very specific here will help you greatly if you decide to list any of these items for auction. Sometimes the smallest details can mean much greater prices, and much greater profits for you!
Now, take your list; sit down at your computer and search eBay TM for the types of items that you have come up with. Now, this may not be effective for that one of a kind BABE RUTH autograph. For about 85% of the things you want to sell, however, it should give you a pretty good idea of the market value of the item, as well as consumer interest.
So, get on your computer and go to the auction web site. Click on the area where it says "SEARCH" and you're on your way. If you want an even easier way to search eBay TM, check out the "Power Searching eBayTM" section of this disk.
Back to the search page on eBay TM In the search box type a relevant term. If you want to know what GARTH BROOKS GREATEST HIT'S CD is worth type "GARTH BROOKS" in the title. If you're looking into selling your VCR, simply type "VCR" into the search categories at eBay TM. Have you ever taken a look at just how many listings are in the Beanie Baby category? It is absolutely amazing !
As you can see, with searching for the proper words, it is very simple to see if the types of items you want to sell are already being sold at auctions. When you find the listings, you can learn a few very important things. The first is, you can get a good idea on what the market price is. By seeing what other people have sold similar items for, you can decide whether or not you want to sell the item, as well as what you should expect to get for the item when it sells! When you search, you can look at auctions that have recently been completed, as well as current ones, to see what items similar to yours are bringing in for other people. After you find out all of this good information, you can now set out with an idea of what you should bring in for selling your items.
The other thing you will learn by searching the web site for other similar products is the amount of people that want the type of item that you are selling. The auction web site lists the amount of bids along with all of its items. This will tell you how many people are bidding on those items.
Obviously, if you have fifty different people bidding on an item, it's a lot more apt to bring in money than an item that is being bid on by only one or two people. This is not an iron-clad rule, though, since you only need one bidder to make money on your item! !
The best way to get started in the market of buying and selling is to decide how much money you can afford to invest right off the bat. I would recommend starting with at least two hundred dollars or so to begin your empire. It's a small investment, and you should be able to double your money pretty quickly!
Then, you need to decide exactly what you want to buy and sell. Your choices here are virtually unlimited, as you have already seen. Here's a good way to begin. If you have a hobby, or an expertise that gives you an edge in particular field, use it to your advantage! If you know computers, you might want to buy and sell computer equipment. If you're a camera nut, then maybe photographic equipment would be your cup of tea! Remember, if you have an edge over 90% of the other people at the auction site, you will probably be able to spot the bargains that you can buy and then re-sell at a profit!
Another way to find out good items to buy and sell is to check out the auction web site, Usenet Newsgroups and your local classified ads to see what other people are buying and selling! Just because someone else is selling the product like yours does not mean that you should not try marketing your own version of it. As a matter of fact, just the opposite is true! After all, if someone is already successful selling something, you probably can be too!
Imagine that everyone looked at HENRY FORD'S first car and said, "gee what a great idea... Too bad it's been done, no need for me to try." We would all be driving Model A's if that was the case!
LOOK FOR ITEMS THAT ARE HOT
One of the things that I like to do is search the auction web site for collectable items that are extremely hot at that particular time. The beanie babies are the best example, but there are many, many others. I found out that some things that I would have never considered very highly collectable are bringing in a decent price at auction.
The most recent fad in this kind of a market was the Spice Girls dolls. They are an item that are literally flying off of the store shelves as soon as they come in, and people are willing to pay a premium to get them. Remember this, time is very valuable to the individual. The last thing anyone wants to do is scavenge all the local Wal-Mart and toy stores trying to get the latest toy.
Most people would be much happier logging on to their computer, typing in a few keys and paying a little extra to get that special item.
Needless to say, I found a few cases of Spice Girls dolls, bought them, and resold them at a profit on both the auction site and on my own web site! If you are into collectibles, or something that you always have on hand, do consider getting your own web site where you can sell your products 24 hours a day, 7 days a week, and you won't have to pay eBay TM to list the items for you! Later, I will talk more about setting up your own web site to sell items!
CREATE ITEMS THAT YOU CAN PRODUCE & SELL YOURSELF
Another type of item that can be extremely successful is something that you can produce on your own. Things like grandma's recipes, a "how-to" manual on hooking up your VCR, etc. These are the items that can offer you immense profits! I know, you're asking yourself "what kind of item can I produce?" It's simple, look at what you are good at and use it. If you can make the best brownies in town, sell your recipe. If you're the guy everyone calls when they can't figure it out how to do something on their computer, write a how to manual on that! Look at all of the books that are available "for dummies" on the store shelves. They sell like crazy, because everybody needs help to tell them how to do something! So take what you are good at and MARKET IT! People will gladly pay $5.00 to $10.00 for the information that they really
Continued on page 3 Click Here