How to Make a Dollar Out of 15 Cents, The eBay Way

photography by liewcf

As I approach my 10-year anniversary of having an eBay account, let me share some tips on how to buy, sell, and make some pocket money in the process. As an on-again and off-again PowerSeller and avid buyer, I understand the intricacies of the primarily auction formatted site. During a transition between jobs, I had to rely solely on eBay income to keep afloat for a few months. You get out of it what you put in, so understand if you want to increase your loot, your time dedication should correlate. Even though you might not have ever purchased or sold something on one of the web’s most popular sites, here are a few tips to gain some familiarity with it.

1. Buy it Now – Feedback rating is the most important statistic. Whether it be for $1 or $100, you gain one point for every positive transaction you make. Start off with buying a couple small things, like a DVD set you haven’t seen [since who really watches DVD series of TV shows that they’ve seen over and over? This is precisely why I don’t have any Saved by the Bell DVD sets]. The goal is to familiarize yourself with the process. eBay is the biggest garage sale on the planet, so you’re due to find something you want that you don’t have to break the bank for.

2. Invest in a digital camera, photo-editing software, and a PayPal account – Chances are you might already have all 3 prerequisites. And opening a PayPal account is free. I recommended paying for each purchase with a credit card as their protection rights are significantly better than if you were to use your PayPal balance. For potential future reference, http://www.paypalsucks.com is an actual website. Since most buyers have these accounts, it is almost a necessary evil. Google Checkout may have been a better alternative, but apparently eBay doesn’t like competition.

3. Scavenger Hunt – Now that you’ve established some feedback, you can start selling. No one wants to buy something off a zero-rated seller. Go around your house and find items you no longer have use for. For instance, I had a bag of clothes [fresh clothes I might add, just no longer my steez] that I was planning on donating, but I decided to try to put them on the auction block. And I ended up netting $100 off dead money. Anything from used electronics to old shoes can have salvage value. I sold my old cell phone with a cracked LCD screen for over $100. This idea follows the adage “one man’s trash is another man’s treasure.” Keep in mind that you still have zero invested, so think of this money as your startup capital. Just don’t sell your ex-girlfriend’s used panties.