If you’re in need of extra cash, or just have a lot of old stuff in storage, then selling your items online is a great way to boost your bank balance and clear out space in your home. eBay is one of the most popular platforms for finding buyers for a variety of items from old clothing, electronics, and even rare items such as memorabilia. When listing your item, you want to give yourself the best chance of maximizing the sale price so here’s some tips for making the most of selling your items on eBay.
Look at other similar items
A good place to start is by researching similar items to yours that have sold on eBay. It is really easy to see previously sold items on eBay and you can use this to your advantage to see any differences in listings between those items that sold for a high amount and the items that sold for lower. Look at things such as the images, product descriptions and general layout of the listings to be able to then plan your own listing effectively.
When creating your listing, you should describe the product accurately – after all, if the item is in a worse condition than described then a refund could end up with you losing the money on listing fees and postage costs. So, it’s always best practice in the long-run to be honest about the condition of the item so buyers will know exactly what they are bidding on and to avoid disappointment further down the line.
Set a reserve limit
Auctions generally sell for higher than ‘Buy it Now’ items however there is more risk involved as your item may sell for less than initially intended. It’s common knowledge that you should start the auction at lower than your target price in order to build watchers, bidders, and general momentum, however if it doesn’t start getting close to your target price, then it can be an anxious time. In order to alleviate these worries, eBay allows you to set a reserve price meaning the item won’t sell if your minimum price is not met. Although it can be useful to dampen concerns, it’s also costly when setting up so it is best to calculate if it’s worthwhile for your item.
End auctions at peak times
If you are opting for an auction rather than ‘Buy it Now’ then it is important to end your listing at a good time as you will usually end up getting more late bids right down to the final seconds. These late bids can make a huge difference to your overall sale price, so it is vital to take advantage of this opportunity. It is generally believed that Sunday evenings, after 8pm, are the peak times in terms of the number of eBay buyers so setting your item to end then should maximize user reach.
Develop a reputation – get more feedback
It is no lie that a lot of buyers may be reluctant to purchase an item from a new eBay user – especially for higher priced listings that therefore carries more risk. So, it’s worthwhile either buying or selling items in advance of your listing in order to gain a reputation and strong positive feedback. This will give more confidence to prospective buyers and in turn should lead to more bids and therefore a higher selling price.
Take advantage of $1 listing promos
eBay are known to hold frequent promotional events where listings only cost $1. By utilizing these and selling the bulk of your items during these periods, you could end up saving yourself £$00s. It is not guaranteed when eBay will offer these promos and you could be waiting weeks or even months. So, unless you’re in need of the cash quickly, then it could be beneficial to wait for one of these promotions.
Selling old items on eBay can be a great way of gaining some much-needed cash. However, if you find you’re still in need a little bit extra, other forms of credit could be available to you such as payday loans if you know you’ll be in a stronger financial position to be able to repay this. Otherwise, it could be worth considering selling old, unwanted items that still have some value.