12-28-2005, 12:57 AM
I'm thinking of doing the eBay thing for a main source of income, so I can quit working for others. Is there anyone here who does it full time? I'm also wanting to know where people get their 'stuff' to put on the auction site.
12-28-2005, 01:06 AM
It's a risky business - there are already a lot of people doing it as a living y'know. Most sellers who sell for a living have trade warehouses suppliers were they can pick up goods at dirt cheap places and then sell them on (places like Makro here in UK)
What kinda stuff would you be selling?
12-28-2005, 11:51 PM
And I know some people just scower for very good deals on eBay and then just turn around a resell the items for more but I don't know how well that works.
12-29-2005, 11:43 AM
it can be a tricky and I would imagine a tough way to earn a living... you'd have to keep your own records of sales etc... then depending on your volumes, packing and posting everything would be a pain in the rear (IMO!) - the one downside to ebay is having to post things!
I would start to sell things along side another job -then if you think ebay selling could support you - then go for it. Watch out for the tax man though - I believe they are watching more and more on ebay!
12-29-2005, 02:08 PM
before you start selling stuff you need to do abit of research on whats in at the moment so like PSP, epods, and then you need to look at how much you earn now to how much you want to earn. i.e if your earning 20K per annum you want to make 36K annum how many items do i need to sell a week!
If you thinking on setting up on your own you want to make per item 20% profit min! this will then allow for the tax man. I think you can nett in about £10,000 before you have to pay any tax. You also need to think of covering your arse if things go wrong such as faulty equipment and things being lost in the post. Don't jump in with both feet, get yourself up and running and keep your existing job and then see how it goes thats the great thing about e bay.
I agree with all of the people above. I am a eBay seller, and I mainly do it for my living. Just a few notes:
1. Make sure you don't charge simple shipping charges like $2, Inless you know for a fact it will get higher- reason being is see usually the shipping charge is not only for the shipping it is also for the fees. eBay Charges ALOUT to list, plus you have to deal with the merchant fees (PayPal, etc).
2. Get atleast 10 feedback- Go around and purchase 10 things and get some feedback before you go and sell, most eBayers won't purchase a item from a new person. Then again would you purchase a item from a new person?
3. READ all of the rules. There are many things that are on eBay and how they do there rules. Like for example lets say you want to start a item at $.99 (many users do this (I am included)) and you want a min. of $10 for it but don't want to put a reserve on it (if you are not sure what a reserve is here is what it is: if you start the item at $.99 but want a min. of $10 you set a your starting bid at $.99 and reserve at $10, people can bid on this all day, if it doesn't get up to $10 by the time it ends then you don't have to sell it to them), so you get a family member to bid it up to $10, this is ILEAGAL! Your account WILL be suspended for a min. of 7 days if you are caught.
4. Read up on ALL of the fees. There are many fees to selling on eBay.
5. Make a good Description- Clearly state the items condition, make sure to state about shipping, all that good stuff.
6. Use PayPal to receive money- I would recomend PayPal for several reasons. They have been good to me for over a year now. They have buyer protection. And most eBayers prefer PayPal over all other payment types, and shipping (will get to that later)
7. Shipping- Don't go out and pay $15-$30 for a membership to some website for online shipping (ex. Stamps.com) If you exept PayPal they have a GREAT way to Ship items, Ow ya get a 5-50 lbs scale (you will need it), use USPS for shipping, Alout cheaper, and items can be delivered to PO boxes, and APO/FPO's. But you can ship a item through PayPal instead of going to the post office and waiting in line FOR EVER.
8. Research, many things you can go to the store and buy it for $50, or go to eBay and get it for $20. Make sure you research things. What do you enjoy using? Xbox, PS2? You can sell or buy ANYTHING on eBay. So do your reserch.
Well I going to stop before I give away to many secrets. I am going to reopen my eBay store and sell some good Lots that you could resale, so if you are intrested in that email me. But I hope this helps you! If you have any questions please fell free to contact me!
01-04-2006, 12:34 AM
Thanks for all your replies and help!
Watch out for the tax man though - I believe they are watching more and more on ebay!
Would I need to worry about this if my company is located outside US borders - like in Mexico or Canada?
Yeah, does anyone know AND have links to supporting sites that detail international tax?
I would think that it would matter which country you are selling in and your tax man would be that country's tax man. I don't think the US is the only country in the world to have an income tax system. Maybe you could move to some lower-income country, like anywhere in Eastern Europe, because I think they really don't care about income tax there. Instead they care about things like medicine and food. But as long as you have that you could wtfpwn ebay from there.