Make a mint on eBay
eBay has become the most popular auction site in the world. There are great bargains to be had and it's also a vehicle for sellers to make a buck or two. But can you really make a living as an eBay seller? And can that living actually make you rich? Joining us today are Stephanie Bass with Cotton Tales Consignment and Tina and Todd Quattlebaum wtih EZBayer.
Moderator:
Thanks for your participation in our chat tonight. We'll begin at 7pm Central time.
Moderator:
During our chat, make sure to hit 'Show New Messages' to view the most recent posts.
sue
hello,
i win some bids on ebay and love it but i want to sell some stuff myself. is it easy and do you make a good amount of money? thanks, sue
Moderator:
Our chat is now beginning.
sue
hello,
i win some bids on ebay and love it but i want to sell some stuff myself. is it easy and do you make a good amount of money? thanks, sue
Tina and Todd Quattlebaum:
it is more complex and there is a learning curve, however, ebay offers a lot of information on their site to learn from. Also ebay Live is happening in New Orleans in June so that is a great opportunity to network. Good luck!
Amanda
How do you get started? Where do you get stuff to sell?
Stephanie Bass:
Started to sell once my twins started outgrowing their clothing. I specialize in kids clothing since they outgrown so fast, it is easy to get repeat business. I get the items from major chain stores (on sale), garage sales and from friends/family.
Tina and Todd Quattlebaum:
out of your house, just your time an eBay fees. To open a store, start up cost and lease committment which can be up to $50,000 plus depending on space, equipment, employees, etc.
Joseph
How many hours a week do you spend listing and completing the auctions that are posted? What income range can be achieved with a full-time effort and with what types of products?
Stephanie Bass:
I spend Wednesdays from 9-5 doing various things Ie: post office, emails, etc. Saturdays, 7am-noon shopping and picture croping, and sundays 2pm-10pm listings. Full-time depends on value of items, you can quit your day job. But you will be working more like 60-80 or more hours. You can sell anything on ebay.
CajunGirl
Are there any places in the Houston area to get wholesale items at real wholesale prices?
Tina and Todd Quattlebaum:
it is very limited to obtain true wholesale, however, many people buy items from Sams, Costco, etc. and resale on eBay. Keep in mind not everyone has a Sam's, Costco to access. Also, be careful what you purchase to resale as it is all about supply and demand.
Michelle Harland
I am interested in doing dutch auctions on ebay. Does that work out well if you have many quantities of one product.
Stephanie Bass:
I have not found dutch auctions not be very profitable unless it is a HOT item. If you have a lot of items in the same auction, it reduces your selling value.
ron
is ebay seller bound to any taxes
Tina and Todd Quattlebaum:
yes, you must pay states taxes for the state you live when you sell to people in that state and you income is subject to IRS tax
Tom
What is the one thing everyone should know?
Stephanie Bass:
Can't just have one thing: you need a catchy title, well crop and sharp pictures, and detailed description
Phil413
I have sold some items on ebay before, but the problem I tend to have is with customers items getting lost in the mail. What is your solution to this problem?
Tina and Todd Quattlebaum:
Hi Phil - use delivery confirmation on everything through the USPS and tracking with others, also insurance will proctect you - if something happens they can file the claim
Tina and Todd Quattlebaum:
Visit the eBay Home page to Register. To buy, a short form will get you started. To sell, it is just a few more questions including a credit card will be required.
ERIC
DOES ANYONE KNOW HOW TO START AN EBAY ACCOUNT
Tina and Todd Quattlebaum:
Visit the eBay Home page to Register. To buy, a short form will get you started. To sell, it is just a few more questions including a credit card will be required.
TexChoctaw
Tina & Todd- where is your shop located? What is your Web address?
Tina and Todd Quattlebaum:
Hi-we are at 6505 S Rice in Bellaire (corner of Bissonet & S. Rice). Our eBay seller id is EZBAYERTX and our web address is www.ezbayer.com Come by and see us!!!
Christine
Do you use PayPal and do you ever have problems with it?
Stephanie Bass:
I do use paypal. I have not had any problems. As soon as I received payment, I send it directly to my bank account. I don't recommend leaving money in your paypal account.
SweetDsMom
What are the hottest selling items on ebay?
Tina and Todd Quattlebaum:
designer and name brands sell the best. something that is unique to be able to search (i.e. they don't search for a purse, they sell for a COACH purse). Electronics also sell well, again a name brand
Kevin
I bought a lot of clearance electronics from a major department store locally. (mainly 35mm cameras) What has been your experience with that type of products?
Tina and Todd Quattlebaum:
if they are new in the box and a name (i.e. Sony), they will do okay. Digital does better, but they will do well
Tim
Is it necessary to get a small business license?
Stephanie Bass:
Not necessary, but you should have a sales tax id.
nikkie
If you don't deserve a bad message, how do have it remove?
Tina and Todd Quattlebaum:
Square Trade (www.squaretrade) will assist, however, it is a process of proof, etc. If you don't go that route, you may also just respond to the bad feedback, but it will still show as a negative
Brendi
What made you all decide to open an Ebay drop off store?
Tina and Todd Quattlebaum:
it requires a store front to take it to the next level. It is limited as to what you can do out of your home (space, shipping, etc.!) It also gives people a comfort level when they are leaving their items
Eddie J.
Hi, I'm a stay at home mom and my 7 year old out grows his clothes quickly. Would his clothes be something I could sell on ebay? Where do you find ideas about what to sell on ebay?
Stephanie Bass:
I sell children's clothing very successfully, althought I have done my most profit on 0-4T items. If you do want to sell higher sizes, I recommed selling in lots. Make sure there are no stains and name brands. That sells the best.
Ideas are best found by going to the completed auction pages of items you are thinking of selling. See what they started theirs at and be competative.
Chuck
Why don't you leave money in your paypal account is that a problem? It seems easier if you are buying on e-bay to have money in that account. whats your thoughts.
Thanks
Chuck
Stephanie Bass:
I have had friends a long time ago have problems w/ money dissappearing from their paypal accounts. It has never happened to me and I have not heard about it since ebay took over paypal, but I feel safer. When I buy on ebay, it just comes from my personal checking account. I can better keep track from my own bank account
Tina and Todd Quattlebaum:
for a normal auction (7 day listing, no reserver or minimum bid) we charge a $5 listing fee and 20% commission for items that sell for $50+. Items under $50 are the same $5 listing fee and 25%. It is very competitive as most are 35%-45% plus the eBay fees. Our fees cover all ebay fees and there are no other charges to you.
timrd518
When you sale on e-bay by consignment, what percentage do you take?
Tina and Todd Quattlebaum:
for a normal auction (7 day listing, no reserver or minimum bid) we charge a $5 listing fee and 20% commission for items that sell for $50+. Items under $50 are the same $5 listing fee and 25%. It is very competitive as most are 35%-45% plus the eBay fees. Our fees cover all ebay fees and there are no other charges to you.
chad
What's the best time frame for auctions. Is it best to leave it as long as possible (9day auction). Is there a rule of thumb?
Tina and Todd Quattlebaum:
We use the 7 day auction the most and start auctions Sunday-Wednesday night. On some items we will start them on Thursday and run a 10 day. 6-10pm for the auction to end is generally the best time of day, although some items do better ending during the day.
Leah
Stephanie- what is your user id? Do you have an ebay online store?
Stephanie Bass:
cotton_tales. I currently don't have an online store, but looking into it. I am one of those that has started slow and growing monthly. I list new items every Sunday.
Carol
Isn't it risky to sell with no reserve or minimum?
Tina and Todd Quattlebaum:
in general reserves are discouraged as it will usually impact the bidding and interest. People perceive that the reserve protects your interest, however, if the item is valuable, people will bid and it will exceed any reserve that may have put on it
Barbara
Are sales slower during the summer months? If so, what do you recommend selling during that time.
Tina and Todd Quattlebaum:
summers months are good for summer related activities - sporting goods (golf clubs, etc.)
Joe
What kind of collectibles sell the best? I have some that I'd like to sell to get started.
Tina and Todd Quattlebaum:
things that were made as a collectible do not do that well (Hummels, etc. that were made in mass quantity). Nostalga and vintage toys do well - things that are hard to find in good condition
Judy
What procedure is followed once you sell your item?
Stephanie Bass:
Send an invoice, followup w/ a personal email. Reiterate your payment policy.
DentalHistorian
Is there a market on eBay for historical dental office items from the 1800's?
Tina and Todd Quattlebaum:
yes definately! especially if it is good condition. Go on to the eBay Home page and do a search for vintage antique dental items - you will see current items, on the left hand side you will see a box that you can check that says completed items, click on that and you will see the selling prices of the most recent items. Good luck!
Dianeofhouston
Could you tell me about the listing service that allows me to list a lot of items then "List"? So I don't have to be on line all of the time.
Is there more than one service? do you have to buy the program?
Diane
Tina and Todd Quattlebaum:
there are a few good ones - Turbo lister is great for starting out as it is free (check it out on Seller Services from the eBay site). We use Andale which is a great program as you expand, however, there is a fee
donna
How do craft iteams do? Things you hand make
Tina and Todd Quattlebaum:
they don't do very well unfortunately. In general, a brand (i.e. Disney, Sony, etc.). Sometimes handmade clothing for children will do well like a pair of overalls dolled up with lace, fringe, etc.
timrd518
do you use any price research tools when determining your asking price?
Stephanie Bass:
I use the completed auction page on ebay, free! You can purchase software such as Andale.
will-and-mary
What is the one item or one category you all would advise getting into?
Tina and Todd Quattlebaum:
there is really so many - in general what you know about is the best to sell. Knowledge is invaluable!
Jen
I am trying to slowly start a business on ebay. I know it is important to build your seller reputation with feedback, but sometimes I can not get my buyers to leave any feedback at all. Any suggestions?
Stephanie Bass:
You can do several things: simply send an email asking for feedback after you have left feedback for them. I send a note in the shipment asking for feedback and I also send the buyers an email when I have shipped to inform them it is on its way and that "I would appreciate positive feedback to help my business grow".
eBayStrategy
How do bidders go in at the last second and win the auction? Is there software out there to do this for a person?
Stephanie Bass:
They use a software that you can purchase off the internet that "snipes" the auction. Just search under auction snipe or sniping and see what you come up with.
Some even sit at the computer and wait till the last second as well.
tina
are there any books that you would recomend for more info?
Tina and Todd Quattlebaum:
Jim Griffeth wrote a great book - A-Z on how to sell on ebay. It is around $99 and gives great advice, describes pitfalls etc. Get it from the eBay store on the eBay site
John
Could you give a few details about how you utilize photos on your ebay listings?
Stephanie Bass:
Take pics from many angles, close up and far away. If there are any details, highlight it. If there are any flaws, show that as well.
Kathy
Are there any other ideas about where to get items besides garage sales, estate sales, flea markets and auctions?
Stephanie Bass:
Wholesale clubs like Sam's and Costco you can get a great price! Also, Discount chains like Ross, TJMaxx, and Marshalls already have the items at 50% off, then they clearance and you can get it for 75%-95% off.
Don't forget about Outlet stores, Chico's, Talbots and Off Saks 5th Ave!
Joseph
Hi,
I've seen these eBay Live events. Are they a good way of finding sources for products?
Tina and Todd Quattlebaum:
WONDERFUL ways to network and view selling products. Senior management of eBay also attend so it is a great way to provide them feedback. There is one in June in New Orleans
Joseph
Hi,
I've seen these eBay Live events. Are they a good way of finding sources for products?
Moderator:
We've extended the chat until 8:30 because there have been so many good questions. Keep posting questions...it's not too late. See more on this chat tonight on Eyewitness News Tonight at 10pm.
Kevin
There are so many "wholesale Lists" or "Bulk Lot" listings, are these worth risking time and money to check into?
Tina and Todd Quattlebaum:
They are, just be careful as they will put in one name item and the rest will be no name or old items. Again, research and education and reputation. Be very careful of fraud!
Butler
Is there a way to get your website listed in your eBay listing? I have heard it is a good way to start getting traffic to check out your web site. What are the no-no's?
Tina and Todd Quattlebaum:
you can type in in your description but it cannot be linked. Technically, it is a no-no. It is best to put it in your About Me page
chuck
Why is it best to sell items during the week isntead of on the weekend?
Tina and Todd Quattlebaum:
in general people are occupied with other things (i.e. baseball games, kids activities, etc.)
Tina and Todd Quattlebaum:
Mary
At what point do you have to make before the income you make becomes taxable? I don't have an ebay store and would probably just sell some of my kids stuff.
Tina and Todd Quattlebaum:
that is not taxable as it is something you have already paid tax on and will probably sell for less than what you paid
Jen
Do you find it to your advantage to start your listings, extremely low, say one cent - or is this a bad idea?
Moderator:
Five minute warning - don't forget to watch Eyewitness News Tonight at 10pm for more on this chat.
Jen
Do you find it to your advantage to start your listings, extremely low, say one cent - or is this a bad idea?
Stephanie Bass:
Selling mostly clothing, I find that if someone wants it they will pay one cent or 5 dollars. I have actually felt like I have lost money by selling too low because it gives your item less value. Buyers may think to not look at it becuase it is flawed in some way. Just list for the lowest you would be happy with.
Max
Do you offer workshops?
Tina and Todd Quattlebaum:
it is something we are considering. eBay also offers a weekly chat that is helpful to learn about eBay
jaw44
Do you ship many items to non-USA buyers and do you charge an additional fee for shipping to non-USA buyers?
Stephanie Bass:
Yes, I ship internationally. USPS has a great website that is you know what the item weights you can figure out the cost before going to the post office. I usually charge $3.50 handling due to paypal cost higher for international payments. The profit is the same for US or NON-US buyers. We do not discreminate. :)
jkendrick
Do you see a lot of sales with the Buy it now or do most of your items go to full auction?
Tina and Todd Quattlebaum:
less than 5% of our auctions are buy it now and a lot of times the auction process will exceed the buy it now price. Some items will do well with a Buy it now.