eBay Buying should be fun!

With gas prices what they are, there are many people who are wanting to work from home. Lots of people, including myself are turning to eBay to fill this need. When times are tough, this is when people start to think outside the box for ways to generate new revenue.

So now that you are going to start treating eBay as a money making venture, you really need to work on your image. Most eBay sellers do not have an image, sure there are lots of listings and fancy posts, but by and large most eBay sellers spend about 2 seconds thinking up their image. This is where you should be different from the rest.

Everyone out there has a horror story about someone ripping them off on eBay. This is why you need to carefully craft your brand and establish yourself with great feedback and a powerseller status. Becoming an eBay powerseller means that you have done something right, at least long enough to get the status. You want to inspire trust in your customers and being an eBay powerseller is one way to do that.

So lets get into it. By the end of the 90 days you should be rolling up on powerseller.

The first step is to head over to terapeak and see what I can sell all day long on eBay and will be easy for me to supply my customers with. After a few minutes poking around terapeak, I see gift cards are a big seller. So I type in “gift card” in the search and heres what I find out

In 30 days there are 2.4 million dollars worth of gift cards sold on ebay. There are 138 thousand bids during this time. There is a sell through ratio of 75.85%, meaning a VERY high percent of these gift cards sell.

So drilling down a little further, I see that eBay auctions for wal-mart gift cards sell at a 82% ratio, meaning you will have more sucess if you sell those.

After finding out wal-mart gift cards are the way to go, I see what the most sucessful sellers in this category are doing, yes terapeak can actually do this.

Turns out that most of the successful ones are starting their gift cards at .99 cents and creating a bidding frenzy that is boosting beyond the value of the card itself. So remember, this is not a way to make money, simply a way to establish yourself with great feedback and to get a powerseller status in a short amount of time.

So let’s look at the $100 dollar wal-mart gift card. Using this technique, according to terapeak, the average sale price if started at 99 cents is 100.81. Enough to cover the cost of the card, and your eBay fees will be limited a little. But remember, we are trying track our self to powerseller status. So we don’t mind loosing a little money.

So will I qualify for powerseller status after doing this for a short while? Yes, yes and YES!

Now for the best part, you can start to get an eBay discount as a powerseller, making things even juicier when you get around to selling whatever product line you want to start with.

According to eBay’s page, here are what they say is required to become a powerseller

As you can see, it will cost you a little bit, but overall if you are going to make eBay your choice for selling in a global market, it will be worth the cost in the long run.

You also can recoup the cost by allowing everyone who visits your auction for a drawling for a $100 dollar gift card. More how to do this later on.