Do Your Ebay Research First Before Getting Started
When you were at school you were probably told do your homework and hated it. But doing your eBay research really can be homework that can put you in good stead for the future.This is just one top tip succesful internet and eBay entreprenuer can offer.
When you do your research on and off eBay you can become filled with money making knowledge which makes that time invested truly worth while. May be pop to a local auction house or flip through a few auction listings prior to local auctions every few days.
If you heed Dale Calverts advice you won’t try and compete by selling main stream stuff on eBay where sellers look to make miniscule profits in overly competative markets.
How can we loose sight of the fact that eBay began as a way of buying and selling unwanted collectibles and the odd antique cluttering up your home.Not as it is today with stores selling high end electrical goods with virtually no margin for sellers to speak of as they try to under price each other.
To be a serious player in the antiques and collectibles markets you have to have your head screwed on right, do your research and have your finger on the pulse both on and off line.
Some time ago Calvert found an old 1898 Harper’s Review listed on a local auction. A lot of us may not have even noticed it but it rang some alarm bells for him.
By carrying out appropriate research he was able to acertain that this had been sold on eBay for $500 so suitably aware he knew the opportunity existed and grasped it with both hands. He paid a mere $40 for this and sold it for a $440 within 7 days.
On a separate occasion he purchased presentation screens for $225 at another auction. Which he promptly sold for a healthy $1275 profit!
So to work with eBay you don’t have to think BIG to make a couple of extra thousand a month. It can all be quite humble really. Just keep an eye on the local newspaper for ads on auctions. Going on line to check the inventory and then cross checking that with what has sold on eBay and for how much.It’s that easy but few do it.
Calvert has a little formula that is foolproof: he never bids higher than 50% of the eBay price for any item. That way he knows that he is guaranteed to double his money.
Now, when you think about it, what you’re doing makes good business sense. You’re bidding on something at a local auction where the most people you can be bidding against at any one time can be no more than 200 people.
with fewer bidders the price is usually lower. But when you then put that same item in to the eBay market of possibly thousands accross the world the prices will rise accordingly assuming you really have found a bargain.
Knowing what is hot at the auction and what it is likley to sell for on eBay is a path to untold riches. You will be shocked at what true collectors will pay for what those without a keen eye for the usual won’t even understand is valuable, but once you master this you be laughing all the way to the bank.
About the Author:
When buying anything anything on eBay, make sure you check my exciting’ excellent free report eBay Secret Reports full of top ref=’http://www.auctionwealthsecrets.com/’>ebay money making tips, and ebay buying advicePlus more great eBay information, tips and techniques.
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