posted on November 8, 2002 12:48:29 AMeBay sellers are very much like the fruit picking "Okies" in the Grapes of Wrath. While the fruit farm is doing well, the Okie fruit pickers are doing quite poorly. If the Okie fruit pickers quit, there are people standing in line to take their places.
The sellers are not eBay and eBay is not the sellers, even though Meg and crew have done a very good job convincing otherwise
Excellent analogy. Ebay has no worries because the sellers can easily be replaced with other sellers.
posted on November 8, 2002 05:24:36 AM
I agree with the "Okies" in the Grapes of Wrath view. The Okies were promised 5 cents a bushel of peaches picked, when they arived to the orchard, there were so many pickers who were willing to work for 2.5 cents per bushel. So naturally the owners of the orchard only paid 2.5 cents. (For those who don't know, this movie is from 1937).
I think in the case of ebay, the survivors will be the ones who are willing to work the hardest and smartest, take the least profit, and always be willing to change and compete with suscessful sellers.
One more thought. The "flea market poll" involving 25 people really doesn't make much sense to me either. Let's say I walked around the block and polled 25 people in a working class neighborhood about who is going to become president. On the day before election day, they said democrat. Would that really be enough complete information to make a concrete statement?
If it is, then NBC, ABC, CBS and CNN should be able to complete their polling in about 2 minutes.
posted on November 8, 2002 06:08:43 AM
I agree that eBay isn't the sellers, in my mind, I think that eBay is just a Marketplace and that in the end, the thing that will drive growth will be Buyers. As long as Buyers keep flocking to eBay, there will always be a seller waiting to take their money.
That's what a lot of posters don't seem to understand, it doesn't matter if a lot of seller's leave -- the remaining sellers will fill the void left by the sellers that leave and generate more or less the same income for eBay as the sellers that left.
Anyway, thinking about the post made by the guy who has been on eBay for five years -- I've come to realize what this thread is all about and why it pops up every three months, it's called:
"eBay is changing and I don't want to change with it, I want eBay to remain static"
Marketplaces change, that's the nature of the beast -- you either adjust or get left behind.
Another thing that I see, is that people are unwilling (or it hasn't occured to them) that they may need to take a fresh perspective or approach to how they sell on eBay and/or may need to alter their thinking.
I read an article in Fortune about an eBay seller whose listing fees where about $160k/year and he said that he pays more in listing fees then he makes in a year and that he can't afford to list more products --which was one of his gripes about eBay.
When I hear this, the Consultant in me puts on his Business Analyst hat and thinks to himself: "Well this guy is obviously selling some of his items for less then the listing fee --- perhaps he should change his pricing schema, identify & remove less profitable products, etc, etc"
I simply don't understand why you would just accept a situation like that and not take steps to correct it and instead just blame eBay -- how can you let outside forces paint your business into a corner and not act to modify your business accordingly?
Depending on the success rate of new products that I'm testing out -- my profits are typically around 4 - 5x my eBay fees. You can't say that eBay is failing sellers based on that other guy's instance, when if I was paying $160k/year in fee's I would be making anywhere from 640k to 800k per year!
I bought my first item on eBay back in May - got my first sale in July -- reached Power Seller sales volume the first week of August (The first full month I was selling) got the Power Seller letter right after the minimum 90 days. Thing is, my sales took off after I started doing things MY way and not following a lot of the conventional wisdom on how to list, when to list, how long my auctions should run, on setting minimum pricing, etc.
That's what I mean by fresh perspective -- I sometimes read this board and feel I have little in common with the other sellers with respect to how I run my business. Which goes back to my original point about people evolving their business models to keep pace with the changing marketplace.
Remember the thread that discussed people's tried and true eBay advice? Mine would be Data Analysis. Case in point: I used the Free Listing Day to test a lot of new products and then did an analysis of each listing to determine it's profitability if the full fee was charged -- what was the minimum I could sell it for, etc. I then used that info to determine that I had about 6 products that I need to run FP listings for that I wasn't running FP's for previously.
IMHO -- that's the kind of work, research and analysis it's going to take to survive on eBay in the coming years. If seller A realizes that he can sell Item X at a 90% sell through rate on Wednesday, Thursday and Friday and only at a 30% sell through on Saturday and Seller B sets up his auctions so that all of them close Saturday night, which seller do you think is going to survive?
posted on November 8, 2002 09:36:32 AM
Excellent post.
The business evaluation process is very important and must be done on a regular basis. Making selling changes on eBay is simple, compared to the difficulties many other businesses face when change is needed. Those who are willing to do the above work will be better able to sell their products on eBay on an ongoing basis.
posted on November 8, 2002 10:55:32 AM
I don't think the change/adapt theory applies to eBay sellers. I don't think the profit motive applies to eBay sellers.
The biggest "success" stories from eBay sellers are those that are unloading distressed stock - a function of cutting loses, not making actual profit on the stock.
For this reason, I don't think there is anything to change or adapt to. eBay is a liquidator venue, whether it is stuff from the attic or distressed stock from a major retailer.
One selling model that I did think would fare well on eBay was "cottage" industry items which are home made. But even they are struggling with sell through rates and final prices. I think the liquidation mentality of the eBay market has put the buyers in a mind set not to pay market prices for items.
posted on November 8, 2002 11:09:27 AM
That reminds me of some boastful flea market sellers."I sold $800 last week and $600 this week". Upon futher investigation you'll find that one of their relatives had passed away and they got the stuff for free or a similar story. They forgot to mention that part.
posted on November 8, 2002 11:31:12 AM
The constant changing of the items you sell is also a hallmark of a liquidator market.
The seller is not really changing or adapting. The distressed items are a limited resource, it is the items that must change. If something is constantly distressed, sooner or later it will cease to be manufactured.
Small sellers are always disadvantaged in this type of market. So you find a good deal for items to sell on eBay, what keeps your supplier from going direct to eBay or selling tons of the items to other eBay sellers?
Whenever you hear Meg and eBay use the term "efficient market", it is shorthand for saying few ro no middlemen, and razor sharp profit margins that can not be supported by a small seller.
posted on November 8, 2002 12:16:36 PM
Not always true.
Many sellers have unlimited access to wholesale, overstock, closeout etc. product and have the ability to sell these goods at good markup on a regular basis. Your point specifically holds true if a given seller is selling only one type of good from one manufacturer. This narrow approach to retailing is always going to be succeptable, regardless if selling online or otherwise.
There will always be overstock goods to purchase. They key is to know where to source the goods. Many of us have very strong relationships with the manufacturers and distributors products we offer and they see a value in the function we serve in the overall marketing equation. While some manufacturers have the desire and ability to offer overstock and closeout product on ebay and via other retail channels, others do not.
posted on November 8, 2002 12:49:01 PM
Well then your business model has nothing to do with business priciples, skill, or "hard work", but only has to do with a lucky association with a supplier.
However, while you may view this relationship with the supplier as "special", I doubt they do. Someone in the supply chain will shorten the chain and increase the profit sooner or later.
posted on November 8, 2002 01:02:55 PM
Wrong again...
Our relationships are with just about all manufacturers within our business niche. You're not getting it and you are making out like everyone else is in denial and doesn't understand.
Open you mind and stop letting your heavily weighed opinions get in the way of learning something from the other posters on this board.
posted on November 8, 2002 01:08:39 PM
>>Well then your business model has nothing to do with business priciples, skill, or "hard work", but only has to do with a lucky association with a supplier.<<
No offense Reamond but you really way off the mark.
For virtually any product being sold by a Brick & Mortar store, there exists a wholesale business to business supplier for it. Having a "lucky" relationship with a supplier has nothing to do with it. These wholesale companies are in the business of either selling to resellers or coordinating direct sales between the reseller and the manufacturer.
A smart eBay seller (like myself) simply tracks down these companies (Hard work) researches their product (Skill, Business Principles) and establishes a network with several of them (Business Model, Skill, Business Principles) so they can create a rock solid supply chain.
Luck has nothing to do with it.
A smart business person who is in the business of selling a product, establishes relationships with companies that can help him create a stable supply chain.
In my case, it allows me to offer Brand New products week after week, it gives me access to factory refurbished products (that are under warranty) it allows me to sell extended warranty plans that will still be valid whether I stay in Business or Not, and it allows me to beat companies like J & R music world to market when new products come out.
This what I was alluding to earlier, when I said in order to survive on eBay nowadays, you have to have a different way of doing things, then was done previously.
Instead of having an unstable supply chain consisting of liquidations, discontinued products, refurbs and B-Stock -- I just sell Brand new stuff and throw in SOME refurbs -- and my supply chain is stable as a rock.
Wholesalers are in the business of selling things wholesale, their adaptation was to adjust their business models to accomodate eBay sellers like myself. They won't go and sell on eBay directly either, because it's easier to just sell to the resellers AND since their existence is to support dealers -- they won't jeapordize their own relationships with manufacturer's by trying to usurp us.
I don't know about you, but establishing a retail quality supply chain and using eBay's efficiencies to undersell bigger retailers and still make double digit margins sounds like a Business Model to me.
Not to mention the fact that my suppliers will tell me things like: "Product X is a hot seller on Buy.com (Or any other biggie I share a supplier with) right now"
In other words, having a stable supply chain has everything to do with Business and nothing to do with Luck.
>>However, while you may view this relationship with the supplier as "special", I doubt they do. Someone in the supply chain will shorten the chain and increase the profit sooner or later. <<
Nope -- read above -- wholesaler's usurping resellers would hurt the former's business and it's easier to just supply sellers.
posted on November 8, 2002 01:13:42 PM
Another thing -- as another poster already pointed out -- working with wholesale suppliers gives you access to manufacturer's.
I just got approved for to be an Authorized Internet Reseller for a product, because they know how many units I can move of their competitors product and want in on it.
Proving to this company that I could represent their product well on eBay (which is my primarily sales venue) is an indicator of the value of the relationships I have.
Better yet -- at the end of second quarter 03' I'm going to try and get three more Authorized Internet Dealerships -- all with the help of my suppliers.
Which means that the supplier relationships are valuable to both parties and that the lesson of doing things differently is a very valuable one.
I'm going about this the way you would a retail operation and it's working beautifully.
posted on November 8, 2002 02:30:17 PM
The "relationship" holds for B&M due to pure physical costs. The relationship has nothing to do with how hard you have or haven't worked, it has everything to do with the wholesaler costs of having a physical presence in the area. The internet is quite different.
Your suppliers just haven't by-passed you yet, and in time they will. Even manufacturers will eventually by-pass direct to the consumer. Hard work and "relationships" are not immune from market forces.
Ebay offers little or no barriers to retail entry. Without those barriers, you can work as hard as you can, but the competition will eventually be ruinious.
Look at how guarded posters here are about their wholesale sources. Why do you think they guard their sources ? They do everything they can to hide where the stock comes from.
If what you propose were true, sellers would freely give out their wholesale information.
But if I am wrong Pete, you and Computerboy should post the contact information of your suppliers right now, or give up your specious arguments.
posted on November 8, 2002 02:44:13 PM
Great thread , I have been on ebay since 98 and this article says it all. It maybe the same one noted earlier. http://tinyurl.com/2ixe
posted on November 8, 2002 04:06:54 PM
If ebay was in decline, I'd expect to see less listings, but there are more. The good sellers are canabalizing sales forcing the weak sellers out, that's why you hear a lot of sellers leaving yet ebay listings are up.
People have to remember, selling on ebay is like any other business, you have to make a profit; you have to brand yourself, and you have to hype your products. The sellers who ignore these basics are being weeded out.
posted on November 8, 2002 05:06:30 PM
I think the decline is not in the increasing number of ebay auctions but in the decreasing sell through rate and number of bids and final prices.
posted on November 8, 2002 06:03:01 PM
i started selling on ebay 7 years ago when 20,000 items listed is a big deal.
ebay is an auction,it is labor intensive and is meant for one of a kind item aka vintage item.
new items such as resin casted figurines ,cameras,pc,etc are mass produced new items and you ask why prices keep declining,this is a basic supply and demand issue.
i hardly sell on ebay anymore,recently out of sheer boredom i bidded on some items,which bring back old memory of why i have not bot anything in recent years from ebay.
if you ever wonder why the bid amount is so slow,well,one of the reasons is that there is a risk factor built in to it-risk of seller not honoring the auction by taking the money and run,risk of item not as described,risk of not being able to make good when item is not as described.what about the shoddy packing and shipping methods,all these factors are built into the bid amount??
of all the 7 years on ebay,i have not bot much,and did i get a fantastic deal,NO.did i get a good deal,hardly.even if i do get a decent deal ,it is cancelled out by more bad deals i have on ebay.
the guy who lists 5000 cd per week and pay 160k to ebay has no business conducting this kind of volume of business on ebay,ebay is an auction for items 7-10 days,with that kind of volume and fee,he should have a website or brick and mortar shop and use some of that money promoting his name,not ebay name.
we are okies indeed.
posted on November 8, 2002 06:18:52 PM
"eBay sellers are very much like the fruit picking "Okies" in the Grapes of Wrath. While the fruit farm is doing well, the Okie fruit pickers are doing quite poorly. If the Okie fruit pickers quit, there are people standing in line to take their places."
That is a ridiculous analogy!
The fruit farms have product, and the fruit pickers are just a tool for them to get the fruit picked, and they will do it as cheaply as possible. There is a finite amount of fruit, and picking...
Ebay is completely different. There are no limits, and the "Farm" (i.e. Ebay) actually depends on how the "pickers" (i.e. sellers) are doing, because they get a cut of the auction price, and get paid for number of listings. Ebay's success is very much tied up with our success (on the whole, not on an individual level)
As far as the CD seller and 5000 CD's a week, why not have them on ebay? This is a free market, do you really suggest that high volume sellers should go away? Perhaps the reason you are not on ebay is that you haven't adapted to the changes in the marketplace?
posted on November 8, 2002 06:20:57 PM
Ebay is inclining; sellers with lower sell through and lower sale prices are declining.
Ebay sees a million more auctions, and say at a flat. 30¢ each is $300,000 minus sell through decline of say a flat FVF 5% (600,000 -100,000) is $50,000; minus a lower sell through of say 10% is -50,000. Net growth for ebay is $200,000.
posted on November 8, 2002 06:22:36 PM
yes,i am suggesting high volume sellers of cd etc go away,be smart,build your own name and business,not ebay .
watch taht 160k go down year after year if he is willing to take the first step .
posted on November 8, 2002 06:44:39 PM
but it does not bode well for venue provider,you want your sellers to earn high margin to offset expenses,build business,make capital spending and search new products .
the fate of the venue provider and the sellers are intertwined,may be not on name basis ,but they need each other.
posted on November 8, 2002 06:58:30 PM
That's why ebay has higher fees, if you keep relisting junk that doesn't sell it penalizes the seller and tells them quit selling it, find something better to sell. It also motivates sellers to sell higher margin items to make up for the listing costs.
posted on November 8, 2002 09:36:42 PM
Lots of solid bedrock true statements in this thread. You have to stay on your toes and be ready for anything that pops out of the bushes. Very Scary but lots of opportunities too. Computerboy is dead-on about the vulnerability of the Narrow retailing approach - It holds true on-line and in B&M - Ive owned a B&M retail shop for 9 years - found out afew years back that many suppliers were selling the same goods or attempting to sell - by going direct to my customers at below wholesale Found out the best way for us to deal with this was to drop the source and find one with a better deal - Import or manufacture our own or upscale the catagory and not compete on price. Im still learning online its similar to B&M but you have to re-learn a lot of the simple stuff. Sure enough if something works well this month (on Ebay) It will run out of gas before you know it.
posted on November 8, 2002 11:51:01 PM
>>The "relationship" holds for B&M due to pure physical costs. The relationship has nothing to do with how hard you have or haven't worked, it has everything to do with the wholesaler costs of having a physical presence in the area. The internet is quite different. <<
But since the B & M stores aren't going anywhere, their supply chains aren't going anywhere either -- which means that my supply chain is relatively safe.
Furthermore, a lot of large retail operations (particularly on the Internet) function identically to distributors anyway, they purchase their items directly from the manufacturer and then sell them directly to the public. Case in point -- I can buy a Microsoft X-Box or a Sony PS2 from Circuit City for the same price that one of my suppliers sells it at.
I make my money by selling "niche" items, products that are popular amongst a certain product group and that are bought from distributors/through manufacturer's reps even by the big companies, so we're working on similar footing with regards to cost basis per item.
Case in point -- Buy.com shares a MAJOR supplier with me -- and for the products they source from that supplier, I can beat em' on price every time.
Again, my supply chain is stable for the items I sell.
>>Your suppliers just haven't by-passed you yet, and in time they will. Even manufacturers will eventually by-pass direct to the consumer. Hard work and "relationships" are not immune from market forces. <<
What market forces would these be? Can you quantify and articulate them?
See, there are some things here that you're not aware of. The reason that large manufacturer's use Reps, Distributors, et all -- is because they need to focus on what they do best, MANUFACTURING! Manufacturer's use reps/distributors (except for very large accounts) because they don't have the resources (Not to mention it being inefficient) to service the need of each and every dealer -- so how could they do the same for individual customers? Why would they, when it's easier and more efficient to leave that to the retailers and distributors?
What market force is going to push them to that?
I know of a manufacturer that is getting rid of it's reps -- instead it's going to use a small group of distributors and sell direct to resellers -- the game changed, but my supply chain is still there -- it's just cheaper and more efficient now.
The Market Forces I see, are that there will always be suppliers who would rather not sell direct to the customer, because it draws them away from what they do best. Market Forces are such, that it forces Business to concentrate on their core competencies, E.g. A Distribution Company will focus on being a good Distributor, while a retail company, focuses on the Retail Business and the manufacturer focuses on marketing and retailing a good product.
In other words, your argument doesn't hold --the supply chain will change, but for new products, it's not going anywhere.
Another thing to consider is that most products are still sold by B & M -- and even if a manufacturer decides to establish a strong online retail presence, it won't risk doing the same offline because while it was building up it's offline presence, the retailers would stop selling their products, which would be bad for business -- and the current model is making them money, so why rock the boat?
Furthermore, Manufacturer's that are selling direct would obviously be open to selling direct to dealers as well -- so what really changes? Most manufacturer's don't have the luxury of going with with DELL Business Model.
>>Ebay offers little or no barriers to retail entry. Without those barriers, you can work as hard as you can, but the competition will eventually be ruinious.<<
If someone loses then someone else wins. Remember a few years ago, when the low barriers to getting on the Internet was supposed to be a boon for small Businesses? Barriers are meaningless without execution, lower barriers just means more people will stand up to get knocked down.
The Smart Sellers will always find a way to survive.
>>>Look at how guarded posters here are about their wholesale sources. Why do you think they guard their sources ? They do everything they can to hide where the stock comes from.
If what you propose were true, sellers would freely give out their wholesale information.
But if I am wrong Pete, you and Computerboy should post the contact information of your suppliers right now, or give up your specious arguments.<<
Nice Try -- but again, you're way off. Seller's hide their sources because the source is a competitive advantage, not because they're afraid of losing that source or having their supply chain fall apart. If that was the case, seller's would hide from their SUPPLIERS where they sell their products.
Furthermore, Seller's hide selling strategies, internal business processes, etc, because they all make up the competitive advantage.
In fact, your argument makes absolutely no sense, because additional sellers finding out about a source will only help the supplier and make them less likely to bypass the seller -- why worry about selling direct to the consumer, when resellers who already have a customer base come to your front door with money in hand?
No, Seller's hide their sources because of competition from each other -- NOT their suppliers. As computer boy said, a lot of seller's have unlimited access to certain goods -- access derived from their cleverness and hard work (Suppliers are hard to find) --- more people knowing about a supplier wouldn't cause the supplier bybass them.
Consider This: Suppliers are VERY difficult to find. You could look through all my auctions and have a hell of time trying to figure out who my suppliers are. All of my suppliers have web sites -- but I didn't find them by searching the Internet, offline people I made contact with referred them to me.
If suppliers were so interested in going directly to the public, they wouldn't hide their presence so much.
So again, your argument about the instability of our supply chains isn't valid. Particularly because the Manufacturer's, Reps, Distributors and Resellers have established a system that allows each to do what they do best.
Another thought -- I sell enough of some products to buy direct from the Manufacturer -- Guess who would help me with storage and fullfillment?
Bingo my supplier -- again, he focuses on what he does, I focus on what I do.
In the end, supply chains aren't really the issue because they aren't going anywhere -- the real issue is that surviving on eBay requires you to adapt and evolve your business over time and not hold on to old ideas.
E.g. eBay is more then a Liquidation Venue --I've never had much luck selling refurbished products on eBay and I have access to a lot of them at low prices -- while the new products have always sold well. Which points to the fact that thinking within a box with respect to eBay is tantamount to Suicide and you can't make blanket statements, like: "eBay is mainly a venue for liquidations"
I know of a couple of other big electronics sellers, who sell mostly different items then me, with a small amount of overlap (indicating how big the market is) something they stress in all of their auctions (as I do)......
Not a Refurbished Item, Not a Product from a Liquidation, Not B-Stock, a Display Item, etc.
What's the question that people always ask?
"Okay, so this is a new product right, I don't want refurbs"
posted on November 9, 2002 03:15:54 AM
Great Thread.
As a seller for 3+ years in the same category of used technical/how-to books, I can definitely say that competition has increased and final sale prices have declined.
I have also sold some new items on ebay bought at liquidation and they always do well. Because Ebay is a hobby for me and not my real job, I do not spend a lot of time looking for suppliers/wholesalers. As a garage sale junkie, I love the hunt. That perhaps is more rewarding for me than the sale. The sales are necessary to keep the junk out of my house so the Wife is happy.
There are other macroeconomic forces at work here that have not been addressed in this thread. Namely the threat of deflation that has been bandied about in the news so much lately. One of the direct effects of a deflationary environment is a change in consumer expectations regarding future prices for a certain product. With an inflationary backdrop like we have had for the last 40+ years, the consumer will buy now, because prices will be higher next year. In a deflationary scenario, the consumer will wait for lower prices. I believe that deflation is a threat and it is something that the US has not had to deal with for a long time. The last serious deflation was in the 1930's. Japan has been in a deflation during much of the 1990's up through today. In a deflation, cash is king and the price of goods declines. I believe that Greenspan is fighting the deflationary trend with his latest interest rate cut.
Other macroeconomic factors are consumer debt loads, consumer access to credit, unemployment rates, consumer confidence, etc.
I salute all of the sellers who can change with the markets. It takes a lot of hard work to keep up with the trends. I agree that market research is key.
My key to success is to keep my costs down. I rarely pay over a buck for a book and my costs to sell the book are another dollar. My sell through averages about $10-$11 per book so I make $8.50 before taxes and expenses on each auction. I sell books because they are easy to pack and ship. I can pack a book in about a minute and packing materials are readily available for this niche. As a side note, My average sell through per book was about $15 in 2000.
If I was to do this full time or to rely upon my sales on Ebay for my main source of income, I would certainly seek out and nurture some supplier/wholesale relationships.
I fully expect my niche of selling nonfiction books to decline further. Market forces will see to that. More unemployed people will list more items. More unemployed people will buy less items. Comparable new items will sell for less due to the same market forces. Someone will always have the book I have listed on Ebay for a lower starting bid.
My primary assets with regard to selling are my low shipping costs via media mail and my feedback rating. I also ship quickly which buyers like. I use buy it now which attracts the impulse buyer. I offer paypal/billpoint even though their fees eat into my profit. I also consider AW software to be a primary asset as it has reduced my time spent per auction by a large margin.
Overall, I figure I make around $40/hour profit from my ebay sales. Not bad for a hobby.
Gotta keep the product moving or the Wife will have my head.
posted on November 9, 2002 06:07:17 AM
40 dollars an hour profit??
did you allocate the time and gas and depreciation of your car for sourcing those books??how about office rent and overhead??
posted on November 9, 2002 08:23:14 AMhow about office rent and overhead??
He obviously sells out of his home as a hobby.
I do the same thing as he does but have also expanded into vintage board games and software and anything highly unusual as the used book market went to hell in a handbasket on ebay except for very rare books.
I was a flea market junkie long before I became an ebay seller so those costs of going to and from the flea maret are really factored into any ebay profits. I love the hunt as well. It's like fishing. Sometimes you get nothing or an old boot but every once in a while you catch a nice string of fish or an old grandaddy of the lake that keeps you going through the bad spells.
posted on November 9, 2002 10:09:52 AM
Okay, I give up. Lets say eBay is in decline.
Now... where to you go? Where on the internet are you going to get the traffic that eBay generates? Where on the internet do you go to eliminate the competition you'd face on eBay?
If a fleamarket was failing you because of decreased traffic or increased competition you could move away from it to a different area. On the internet you will always be right next door to that fleamarket.
posted on November 9, 2002 10:23:08 AM
If ebay saw a decline in buyers, that would also mean an eventual decline in sellers, so those who survive could see an increase in sales. Take a look at Dell. Computer sales are down but they are grabbing market share.
For those who can't survive when there's declining sales on ebay probably couldn't survive anywhere and would be forced out of business.
posted on November 9, 2002 11:07:50 AM
My figure of $40/hour profit was after all expenses were deducted. I do sell out of my home and really enjoy it. That figure did include wear and tear/ gas for the car.
There will always be changes in life. I say do the best with what you have and look for ways to improve.
Since I started selling on ebay, my time spent per auction has decreased from 20 minutes to about 5 minutes. AW has been a great tool to decrease time spent per auction. I use the Auction Pro software and my only description is "see images" along with the canned description that AW posts at the end of all my auctions. I also use the post sale tools which save a ton of time.
I decided this year that it was much easier to get a good digital camera that takes macro shots and take 6 or so pictures of each book instead of typing. That change alone has saved me a lot of time.
For me it is all about time spent per auction. I usually list my books starting at $7.50 or $9.99 and if they don't sell they go on the next week starting at $4.99. I ship everything via media mail which is still cheap.
I try to keep my expenses low and like I said I rarely buy books for over a buck.
My hats are off to the sellers that do this full time. It is a lot of work. But, like I said, my joy comes from the hunt.
