Why Can’t I Make Money On Ebay? The 10 Most Common Mistakes Made By Newbie’s Part 2

Here is Part 2 of The 10 Most Common Mistakes by eBayers

1. Poor description: The length of your description will vary depending on the item you are selling. Look for similar items that have sold using the eBay completed listings function and adapt the description for successful for successful listings.
2. Expecting items to sell the first time: This is again part of the eBay mythos, put it up, it will sell. If you use the advanced search facility for your item you may well be shocked at how many similar items you are listing fail to sell. This could be down to a number of factors, such as the as the starting price, the time it was listed, the type of listing used and the category it was listed in. You may have to list it several times before it sells. Always use the relist facility on eBay.
3. Choosing the best time to list: This is a bit nebulous as it depends on what it is that is selling. If you are selling into a big market with lots of sellers, then listing several times a day with the auction ending at different times is probably the correct strategy. If you are working in much smaller niche areas (which I recommend) then having you listing finishing at 8-9 in the evening may well be the key to success. Choosing the best time to list is crucial to you auction success but it can only be gained by experience.
4. Research: If you want to make a business from eBay then the most important thing is to research what you intend to sell, this may seem obvious but its great to have a fantastic idea of what it is you want to sell and then go about trying to sell it. The three most important tasks are RESEARCH, RESEARCH and RESEACH. It is only through research that we can find out what is truly selling. From that we can work out if our idea is worth a punt, so research your ideas first, second and third.
5. Obtain your stock at the right price: If you wish to make a business of your eBaying then you will need to obtain stock on a consistent basis at the right price to make a profit. You need to sell the same stock at the right price in order to make a profit. Local wholesalers are a good start for finding stock to make a start, they are very good for sourcing non branded stock. You can also find stock that is similar to branded stock, your buy in should be quite modest but your margins should be excellent.
6. Lack of persistence: This is the biggest killer bar none. How often have your heard “I tried it once but it didn’t work”. It took me nearly a year for my business to kick in; it was 8 months before I gained Powerseller status and make real profits. Only 5% of eBayers obtain Powerseller status. The ones that have persistence will find the rewards.