For years there have been people all over the world saying that you can not make money with an eBay business. You can see on the web, word of mouth, or maybe just a personal experience. These are the same people who did not give it a chance to be successful. There are going to be bumps along the way just like any new business that you may start-up. The key is how you move on. Do you give up, or do you to figure out another way to overcome the obstacle in the way. The great thing about an eBay business is that you can work part-time until your feel comfortable enough to make it your full-time job. So today, I would like to debunk the top 3 eBay myths.
- eBay is to saturated, and its to hard to make money: This is not true. eBay has millions of items that sell daily. The people who make this claim are probably selling in the wrong category. The easiest way to make money on eBay is to find a niche market to sell to. You will make more profit selling a niche item, like a Back to the Future movie prop replica, rather than a iPad. Why? Because there are thousands of iPads that sell ever hour, where the movie prop may only have five listings a hour. eBay is not even close to being saturated, matter of fact, you can be more profitable on eBay today, than any other time in history!
- eBay fees make it impossible to make money: False. To make money on eBay you have to understand how their fees work. This is crucial, because it affects your bottom line. Most of the time, eBay charges an Insertion Fee, Upgrade Fee, and Final Value Fee. To better understand how eBay fees work, click here. For me, the easiest way to check how much money I am going to make is by using an eBay calculator. My favorite one is called, “New Life Auctions”, and can be found here. By understanding the eBay fees, and using the calculator provided, there is no reason why you should lose money on a listing. Most eBay businesses add this cost into their listing.
- You can only make money if you buy in bulk: This again is not true. eBay is all about finding the right item to sell at the right price. You do not have to buy in bulk to get your item at the right price. As you have already seen in the previous listings, there are many places you can buy an item that will sell on eBay. I have never purchased an item in bulk just to get a lower cost. I do, on may occasions, find an item that sells great on eBay, and I buy out the store of their stock, but this does not lower my costs.