When you have things you no longer need, you may want to think about selling them on eBay. The problem is, where do you set the price at? You want to make money off of your item, but you don’t want to set it so high that no one will bid. How do you figure out what your price should be?
There are people who make a living off of selling things on eBay. Michael wrote in, saying that he’s one of those people. Well, actually, he’s hoping to make a bit more of a living by selling things on eBay. He thought that I was an expert seller. Sadly, I’m not. I’ve sold things on there, yes… but not often!
The way I do things isn’t very difficult. When someone wants to buy something from me, I have them get a point of refernce. Find me comparable items, and let’s look at the median there. Then I know that I’m giving the person a good deal, while not undercutting myself.
As long as you are average in terms of your base price – you’ll make money. People will buy your items, and you’ll have money in your pocket. You can steadily (but slowly!) increase your prices as you build a good customer base.
eBay itself has a ton of tools available you can use to help yourself become a better, more competitive seller. You’re crazy if you have stuff lying around that’s not being sold on eBay!
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