Selling Hot Products

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eBay is a wonderful way to make a profit out of products you may have lying around the house. Get Rich Slowly lists some ideas to make the best out of your time on eBay. First, the website recommends researching prior to putting up a product on a listing. Get Rich Slowly explains, “Dig through eBay to find what similar items fetch (and how often they sell). Check other places (Amazon, abebooks.com, other forums) to see what they charge for the item.” Doing this will allow you to find out more about your product, your competition, and ways to make your products stand out. The second piece of advice Get Rich Slowly recommends is to create a low bidding price first. The website explains, “Low starting bids cost less to list, and they encourage participation. The more popular you expect an item to be, the lower you should set the starting bid. If you expect only a few bids, start bidding closer to your minimum desired sale point.” Doing this will also help garner enough reviews that give you credibility as you move on to more expensive products later on.

Now, aside from setting prices low, it is important to time the auctions for long enough. Get Rich Slowly says, “Time your auctions to end on Sunday evening between seven and ten Eastern (four and seven Pacific). This gives two weekends to attract bids.” So, try to give your auction enough time to gain awareness, publicity, and competition. Another way to establish publicity and awareness around eBay is by offering things at no cost. Get Rich Slowly writes, “Offer free shipping and delivery confirmation. You could charge for these, but free shipping builds goodwill. Delivery confirmation gives you peace of mind. Free insurance is of dubious value; I sometimes offer it, but generally only on expensive items. You might offer it as a customer-paid option.”

It is important to stay friendly, amiable, open, and honest as a seller to make financial gain. Get Rich Slowly shares, “You will receive many questions about your items. Some of the questions will be stupid. Answer them anyhow. If it’s a question that many people are likely to have, post the your response publicly.” Aside from answering questions, charging competitively, leaving the product up for a short time, and offering free shipping, there is also the important factor of being friendly to your potential customer. Do not lose your temper or get impatient with some of the questions you receive.

Another important factor is to describe the product in a clear manner, “Try to place additional keywords in the description, but sprinkled into conversational sentences” doing this will make the products easier to find.



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