In the introduction to the series of how I make money online I noted that my top source of income was selling on Ebay. Along with Ebay being the top source of my income it is also the top time consumer. If you think you are going to make enough money on Ebay to live on by spending a couple hours per week listing items you will be disappointed. If I didn’t keep my time in check on Ebay I could probably spend more time working at that than at a regular job except that I wouldn’t have to leave the house. It all depends on what you want and as I’ve stated I don’t want to spend all of my time in the house when I live in the Philippines. There are so many places to visit and things to do and that’s what retirement is all about.
Before I go too far I’d like to introduce Ebay to all you who have been living in a cave for the last 10 years or so. Ebay is an online auction marketplace where people buy and sell millions of items and millions of dollars are passed everyday. Since Ebay is an online business it is open 24 hours a day every day of the year. It is a global marketplace so you could be buying or selling from or to any country in the world while sleeping. Ebay makes it simple to sign up and begin buying or selling. Just go to Ebay.com and sign up for an account. With it’s sister company Paypal all monetary transactions will be handled online in a safe and convenient manner. Thats why Ebay will probably still be my top income source when I move to the Philippines. All the money I make from working on Ebay goes to an account and I have a debit card which I can take to an ATM and withdrawl and either spend or deposit into another account.
After you get an Ebay account your first problem will be what to sell. I suggest that you look around your house and find things that you don’t want anymore. Clean out your garage and attic and list these items because believe it or not someone will want to buy your junk. For some people this will keep them busy enough for a few months. Believe me, I have been selling on Ebay for almost ten years and I still have stuff that I list from around the house.
When you are finished cleaning out your house start looking for other things to sell. Some people turn to companies who will sell you items below retail and drop ship them to your bidders. Dropshipping simply means you list items in Ebay that the dropshipping company stocks and sell them for a price above what the dropship company charges and you keep the profit and they ship the item to your winning bidders. Let me warn you though that when doing this you are at the mercy of the dropshipping company and the profit margin is not that great. The one company I use and probably will depend on more when I move to the Philippines is Doba. They are a Ebay approved company and many people use them. They have a free trial to check them out so I would suggest doing that and see if it will work for you. Remember that dropshipping isn’t for everybody.
A third way to find things to sell is visit garage sales, liquidation sales, and yard sales for items that will sell on Ebay and getting them at a low price and sell them for a higher price. Clothing, collectibles, and other items sell very well on Ebay, in fact this and one other way is where I get my items to sell. I’m going to share a secret with you on finding the right items to sell. I have a coach that I have adopted as my expert on Ebay items and it has been very profitable for me. Her name is Suzanne Wells and she operates a site called Ebay Selling Coach. Suzanne is an expert on Ebay and has many ideas which she shares for free. This is where I would suggest you start if you are interested in Ebay for a profit. She has ebooks and podcasts and videos that will just open the world of selling to you.
This post has run a little longer than most of my posts but Ebay is just a vast marketplace with much to learn but the ability to earn so much money. Please go to Ebay and check it out and visit Suzannes Site. I’ve listed a couple of books below that have helped me along the way.
Three Weeks to eBay Profits: Go from Beginner to Successful Seller in Less than a Month
Stay-At-Home Mom’s Guide to Successful eBay® Selling
eBay PowerSeller Secrets: Insider Tips from eBay’s Most Successful Sellers (2nd Edition) (v. 2)