posted on January 6, 2001 09:35:39 PM new
I continue to read all the sob stories on this board and it would seem as if everyone is losing money on Ebay. Please tell me this is not true. I have listed and sold a few items on Ebay the past year and was really amazed when a book I had bought for ten cents sold for over $80.00. Now I am planning to sell full-time, but I need to know is it worth it? Is anyone out there making a living doing this? I would love to hear your success stories for inspiration. = )
posted on January 6, 2001 09:41:29 PM new
I'm not making a living, but I'm getting a nice supplemental income on top of my full time job. I've estimated about $2000 profit for 1999, and January is getting off to a very good start.
I have heard that there are those who make it a full-time job and make a living at it - but I have a very small collectible market I deal in (although I am branching out). I don't think I could make 100% of my income from Ebay.. but its a nice bonus...
posted on January 7, 2001 02:53:13 AM new
I feel the days of making MONEY on eBay are going-going-gone for too many sellers! Too many THINGS, too many listings, just too many people buying & selling the same items.
Everyone wants a piece of the pie -- the auction management services (Not AW) - Paypal - Billpoint - listing fees - reserve fees - 'gift' fees - reserve fees - time spent obtaining photos - shipping expenses.... it just doesn't add up anymore to a profit!
I listed over 200 items in December (or maybe November too)--only sold 18. Paid for the listings anyways -- my bills from ebay with all the listings and the 'stuff' you add on like 'reserve' 'art gallery'etc., add up at the end of the month and that red ink starts to show real quickly.
Last year at this time I could look at a profit of $2000 for the December 'rush' -- but no more on ebay. My sales were 40% of my listings - now less than 10%. Too many restrictions, more all the time & more money in THEIR pocket. Just look at the comments on the AW site and you'll see what I mean.
Heard on the radio Friday that eBay laid off 700 employees. What does this tell everyone?!!! Comments people - let's hear from the rest of you!
My feeling -- they are going to price themselves out of the business, as sellers can't continue to LOSE money month after month when they're doing it to make a living.
Bottom line, unless you're selling Jewelry which has a 10x markup anyways -- keep your job and watch those listing fees!!
posted on January 7, 2001 03:38:47 AM new
Laid off 700? That's 500 more than I thought they had! LOL!
I,too, am just a part timer and don't rely on ebay for my income, it's just a nice little bonus. It takes me a lot of time to do what little I do as each ad is unique.
But I think how much you can make is only limited by the time you have to invest and what your products are. You can't depend on finding that .25 book that sells for $80. I've done it but not often, usually ends up your books end up at $2-$20 now that half.com is your competitor as well as yahoo and Amazon.
I do know a guy that finds great closeouts right in his area and is able to sell a lot of multiples from the same ads. I still think I'd want at least a back-up job tho, especially not knowing when/if ebay has a rate hike coming.
posted on January 7, 2001 04:45:35 AM new
deco is exactly right. There's a huge difference between making the occasional big score and selling fulltime. From all I've gathered from the big sellers here, they work extremely hard, have a great deal of inventory or at least some sort of reliable source.
Having said that, I started in February, and last week when I met with our family accountant to discuss our tax return, his eyes bugged out when I showed him my profit/loss sheet for the year. I think it's GREAT for a moonlighting or supplemental income job.
posted on January 7, 2001 04:56:39 AM new
As Rosanne Rosanadana said, "it's always sumthin". Ebat, billpoint, paypal ETC ETC are all spinning their little webs. All the time increasing fees, hiding little hidden fees charging extra for things that used to "go with" the territory. Now the PO is raising prices.
If you can't buy it way below wholesale you are sunk on Ebay. A nickle here a twenty spot there and it adds up. I try to double my money on what I sell then at the end of the month I get my $700.00 Ebay invoice and there goes my seed money.
The entire internet has turned into a lie. Now the 3 biggest lies are "no new taxes", " Sure you can get a refund for deadbeat bidders (and they will be dealt with)" and "Paypal.....always FREE!"
I must need a new dictionary because mine says "Always" means ALWAYS and "Free" means it don't cost squat!
posted on January 7, 2001 05:21:15 AM new
Would I give up a job with benefits/insurance to sell on ebay full time? NO. I sell part time on ebay and have a part time job that has a 401k, medical benefits, etc. I have had great success with ebay, and it works just fine for me now. But, there are just too many "ifs" involved, and personally, I just dont think I would leave my job to do this full time.
posted on January 7, 2001 06:16:41 AM new
Yes, its quite possible and many of us do it.
Those that do, don't really spend alot of time on the chat lines - no time.
Know the items you're selling; what they sell for on eBay.
New things vary; antiques and collectible still do well - once again, know what you're doing.
There's plenty of info out there.
Now, yard sale stuff brings yard sale prices.
I'm still amazed when I go to public auctions and see the prices that booth holders in malls pay - and there it sits.
Sometimes, 2-3x internet auction value.
Pay attention to detail; pay attention to your customers, and to your inventory....you'll do alright.
posted on January 7, 2001 07:03:06 AM new
I'm waiting to see what all of those Yahoo cheapskates will bring to Ebay once they realize they have to PAY for putting up auctions and move uptown to Ebay. Talk about yard sale stuff.
posted on January 7, 2001 08:05:06 AM new
WOW Makeing money isnt this a crime the goverment frowns on makeing money
I dont believe Ebay laid anyone off I think you mean e-toys im not a big seller on ebay but started listing there last may when yahoo started playing with there auction catagories and site and bids dropped and bidding is good.
as for the person that listed 200 auctions and only had 9% get bids ouch this has to hurt I learned after my frist week on ebay best way to list Items is slowly over the month.
your Items have to be there when the buyer for the item is looking to buy on ebay I list 15 at the top of the month and add 3to 5 new item every other day all my auction list for 10 days I find auctions listed for 5 or 7 days in some catagories are 50% less likely to get bids.
posted on January 7, 2001 08:24:46 AM new
Hello Madspender,
I would make money with my auctions if folks with userids like yours would bid. Heheh.
Seriously, I think that the full time survivors and thrivers on eBay will ultimately prove to be those who are dealing in vintage collectibles or items that are in reasonably short supply or are otherwise difficult to locate.
Trying to make a profit by out-retailing many other folks with the same access to the "product" that you are selling is not for the faint of heart or for small operations. There simply is no profit margin in these types of items unless you catch the very start of a fad and know when to get out as the market becomes saturated.
posted on January 7, 2001 10:46:51 AM new
I'm doing really, really badly on Ebay right now, but it's not because of the fees. It's because of saturation. Where I once was among 10 people selling in a certain niche (let's call it X), there are now approximately 40 people selling X on Ebay as well as a number of people cleaning out their stock of X that adds to the total week to week. Used to be about 4 pages a day ran of X related items. Now it's 12 pages. The huge number of things for sale (which is great for buyers!) is depressing prices. Items I used to get 12-20 dollars have bids right now for 5 and I don't anticipate any snipe-fests. The big dogs in this category are taking a hit too. I see the main seller getting 50 dollars for stuff she used to get 200 for. I'm not the only one hurting here---and I have a lot less riding on it than some of the others. After all, I can go out and get a temp gig tomorrow. I choose to do this, because it used to be profitable. I'm not super-interested in spending a great deal of time making Ebay pay in other categories. I feel it's time invested in something that is generally past its prime---not a good idea, unless this category thins out AND the buyers come back in a spending mode instead of a bargain mode. I don't see it happening. So, oh well. It used to pay, it really doesn't anymore for my merchandise, I would prefer not to go back to my old, sell-all-kinds-a-stuff MO (been there, done that for 10 years in the flea market business, I've had enough diversification). Right now I'm in the mood for a boring job with bennies. I'll probably still Ebay on the side (can't keep myself from just listing some stuff). But
I don't feel that I am complaining about these things. These are just facts in my niche. For this category, the market has changed. Some categories are still going strong for reasons that may have a lot to do with buyer demographics, degree of buyer interest, quality of merchandise, or a whole bunch of other factors...but the niche I'm into isn't. I could find other niches or I could make other plans. I'm choosing to make other plans. Ebay was fun while it lasted. And it gave me courage to have my own business---which was a great lesson. I wouldn't advise anyone to jump into it full time right now, but hey, you never know.
posted on January 7, 2001 12:31:09 PM new
I am using eBay to sell ALOT of items I have accumulated over 15 years or so in business.
I have just left the video industry after it failed misurably. 11 wonderful years - then along came those who wanted market share NOT profits. They ruined an incredible industry.
If you want to sell on eBay, always have a backup plan - and try to keep your costs as low as you can. Recycle whenever possible. Anything you don't have to pay for keeps more money in your pocket!
Read the posts here - they will keep your feet firmly on the ground - and you will learn alot.
posted on January 7, 2001 12:41:20 PM new
madspender -
Don't give up your day job. Everybody gets an occasional item they bought for pennies that sells for lots of dollars, BUT that is the exception. You have to be very smart and very lucky to make it happen often.
By full time I hope you mean you can devote 10-15 HOURS a day, SEVEN DAYS A WEEK to finding things, cleaning them, photographing, writing descriptions, uploading, prying payments out of the bidders, and packing and shipping. It's not as easy as dabbling makes it look.
posted on January 7, 2001 03:54:17 PM new
I had a fantastic Christmas.This month is starting off slow.What I have found is that some items sell until they have been selling on E-bay for awhile,then they die and you couldn't give them away.You can not offer an item at a price than is higher that the public will pay and expect to sell it.The secret is to buy an item at a price you can put it on E-Bay and sell at a price three to four times higher than you payed for the item.If you can't do that get out of that catagory your trying to sell in.Stay with items that sell everytime you post them.
posted on January 7, 2001 04:37:39 PM new
I've been a full-time seller on eBay for 3 years. Sold mostly books, but lots of other stuff, too. Going back to a job soon, for many of the reasons stated here. My advice to anyone contemplating leaving their job for eBay full-time is to have a nice capital cushion so that you have time and money to decide whether full-time eBay is for you. Selling on eBay in 2001 is NOT like it was in 1999.
posted on January 7, 2001 05:06:36 PM new
I don't make a lot of money..but buying beads at wholesale and selling them for a little more than I paid (and I mean a little) has given me the opportunity to increase my own bead collection for free.
This is what I wanted out of Ebay because I think that making a full-time living on Ebay would be more work than a full-time job and pay you less money, not to mention no benefits.
posted on January 7, 2001 06:54:06 PM new
I thought I was nuts to hold onto a two year supply of items to sell on ebay, but it sure has allowed me to diversify. I had my autumn slump but I sold lots of junk that I dedicated myself to selling, which I never would have taken the time during a better period. My sales in December and January are rising probably thanks to BIN.
Ebay is definitely a tricky business and I'm not surprised many are having a hard time. Maybe the best advice I can give is sell junk (items that wouldn't sell before) when the economy slows, sell good things (things that are in hot demand) when the economy is better.
horizonod- I may be what you call a "Yahoo cheapskate." Selling things with low margin or for under $1.00 was perfect for Yahoo, not anything to do with being cheap. Actually targeting certain items to Yahoo brought me the same profit as on ebay and without a monthly bill to worry about. This works ok because I'll just sell them as a lot on ebay which will help move this stuff faster.
posted on January 7, 2001 07:37:57 PM new
I think if you just use eBay for a little extra income and not rely totally on it as your main source of income you will have alot less stress in your life.
If you are in selling collectables or antiques you should try to work a Flea Market or a Mall so you have another outlet if not even to just try to sell what will not on eBay.It can also be a good place to find some of the Better selling items for eBay at times as you are there anyway working on your booth.A friend of mine does this and is quite sucessfull but is also very knowledgable and hard working which helps.I think it is like anything else,you get out of it what you put into it.The sellers I know who work very hard and are agressive still do well.They might not do as well as they were but they still manage to make a living.
--------------------------------- If I had money I'd be rich!
--------------------------------- My Bit
posted on January 7, 2001 10:13:33 PM newWHAT on earth are you listing that has a sell-through rate of only 9%?
It all depends on your profit margin. My current sell-through rate is about 20%. But even at 5%, I could still make a very healthy profit.
I have several degrees and a variety of work experience, but last month I made more in online auctions than I have ever made in any three months at any other job.
A lot of it comes down to efficiency. Anything that you do on a computer that involves any repetition can be automated. That includes composing your listings, submitting them to Ebay, relisting if they don't sell, sending EOA's, sending notificaiton of payment, generating address labels, etc.
posted on January 7, 2001 10:35:27 PM new
My girlfriend had to report $70,000.00 to IRS and it was solely off sales via eBay. She is organized, sells electronics (used), and has a new baby. I don't think everyone can do as well as she has but she planned it out and didn't just jump in head first. I think planning is certainly important but she also has excellent customer service and everything is set up to operate automatically. She enters inventory and packs boxes.
I'm jealous and motivated!!
posted on January 7, 2001 10:45:16 PM new
Yes I am making a lot of money.
I keep my records in Quickbooks so I can tell you to the penny what my gross and net is for the year 2000.
My gross sales were a bit over $100,000, including some sales off eBay. My gross net was about $75,000. The final net is up to the CPA.
I don't appear to be having problems like other sellers. For one thing, I specialize. I started my eBay business with a strong business background so I know how to analyze my market. I have a strong repeat customer base. I put some of my cash flow into such things as out-of-print books in my area of specialty, increasing my knowledge, allowing me to find and identify the real rare items. I sell 99% of my listings. I know my market, how to pice my items, where to find my inventory, how much to pay, how to identify it correctly and sell it.
Another thing, I don't list thousands of auctions each month. I list between 120 and 250 auctions each month.
posted on January 7, 2001 11:38:14 PM new
My items seem to sell for less nowdays. I still sell 85-90% of what I list. I *always* make a profit because I buy dirt cheap or don't buy it at all and build my profit into my opening bid. The only time I've lost is when I stupidly mis-quoted (underestimated) shipping, or on a few occasions when I missed a flaw in an item and voluntarily refunded or refunded 1/2 or whatever before even shipping.
Anyways, I have used eBay to pay some bills. Not "the bills", not all bills, but some bills here and there. I have to sell more stuff now to make what I was making six months ago, but that's ok. I do feel that if I had more time, I could make enough to support us fully, albeit on a min. wage sort of income. We could live off of it but we'd have to live even more frugally than we already do. I would need to give up the other stuff I do (part time job 4 hrs a day at my son's school) and devote ALL my time to eBaying which I just *can't* do right now, but if it were the only way, then yeah, it could be done IMO.
At any rate, it is nice to make whatever I can. I experience a big rush when I pay for something with eBay money; like when we were strapped and the brakes went out on my van but I was able to pay the entire repairs with eBay income, not having to borrow from my parents or something. Nice feeling.
posted on January 8, 2001 02:13:05 AM new
There is definitely still money to be made on ebay! Despite all the faults ...high fees etc..lets face it, paying these ebay fees are your alternative to paying monthly rent if you had a booth or a store.
The key is knowing how to pLAN.
Knowledge of what you sell & who you are selling it to is very important.
I agree having a capital to cushion you will surely help during your slow months.
I've been selling on ebay a year now & have had made a pretty good PT income out of it. Now I am planning on going FT.
Stay away from "iffy" products & research your items well. That way you don't end up losing money & getting stuck with inventory you can't move.
90% the items i list sell so I think the best is yet to come this 2001!
Despite all the negative stuff about them lately, I am still happy & thankful to be selling on ebay.
