If you sell on Ebay...

[la79al]

how much do you make and what do you sell? I'm thinking about proposing a business plan to DH (to include a Disney trip ) but want to make sure I'm being practical.

 

[Toddupton]

We used to sell on ebay until paypal started sending 1099's for taxes. The fees have increased so much with ebay and paypal and now you even pay fees for the shipping as it is tied to the final value of the product. We finally stopped selling since after we did the math with the taxes and fees we were only banking about 30% of what we actually were bringing in.

 

[xipotec]

I sell and buy on Ebay often, but when i sell its usually a high value item that I am going to get rid of anyway. So any money I make is extra cash to buy things I want.

As far as a business I would steer clear. Unless you are selling something that you create, that had little over head and investment , its simplely not going to make you alot of money.

Ebay is really screwing the sellers over. These days a buyer can just contest an auction saying you did not represent the product correctly and the will access your paypal, remove the funds without your consent. Its in the contract.

And it happens, one transaction like that and you lose alot of profit.....

What are you thinking of selling?

 

[Metsfan520]

It's not practical at all.

 

[Alesia]

The words "business," "selling on ebay," and "practical" do not belong in the same sentence.

 

[Darcy03231]

I sell on eBay, but like a previous poster it's only stuff I own that I'm getting rid of so it's extra cash for me.

Occasionally, I might find an item at a yard sale or flea market that I know I can make money on, but I don't do it often.

I wouldn't use it to start a business.

 

[Gillyrose779]

What kind of business are you thinking of starting? It all depends on the type of business. If Ebay isn't for you I could probably give you other ideas but it really depends on the product you plan to sell. Etsy is a great place for handmade items.

 

[la79al]

It would just be things I find at yard sales and estate sales. I'm a stay at home mom and will have 2 little ones home with me over the summer but come fall, one goes back to school full time and the other one will be in preschool 3 afternoons a week. Not trying to make a million but thinking about using it to pay one bill a month and then anything after that goes to vacation savings. Not depending on the money though. It would just be awesome to get the kiddos back to Disney and staying at home with an anti-Disney husband, it's not going to happen too soon on it's own.

 

[Gillyrose779]

It would just be things I find at yard sales and estate sales. I'm a stay at home mom and will have 2 little ones home with me over the summer but come fall, one goes back to school full time and the other one will be in preschool 3 afternoons a week. Not trying to make a million but thinking about using it to pay one bill a month and then anything after that goes to vacation savings. Not depending on the money though. It would just be awesome to get the kiddos back to Disney and staying at home with an anti-Disney husband, it's not going to happen too soon on it's own.

You have to really know what you are buying at the yard/estate sales and the "selling price" that the items are going for on Ebay (NOT the asking price). Ebay and Paypal does take a good chunk of profits out but you can still make money- you have to really educate yourself on what you are buying/selling. Craigslist is also really good for selling larger items that would be tough to sell. The downside is having to meet with people or inviting them into your home. I always recommend having your husband home and having the item in the garage for safety sake.

I used to be a powerseller on Ebay and still sell using both sites so I think it is worth it.

Are you creative at all. Like I said Etsy is great for craft projects. There is also shirt companies called Skreened, CafePress, and Zazzle. You make designs and if they sell you get a commission. This can be a fun and easy way to be creative and make a little money.

I hope this helps. Good Luck!

 

[bjscheel]

I sold regularly from about 2002-2012. I made several thousand dollars over that time, so it can be done. It was mostly clothing that I found at thrift stores and yard sales, the kids' outgrown clothes, and some other misc. I frequented the Clothing sellers discussion board, learned a lot, and had many lucky finds. In 2012-2013 for some reason I just wasn't finding anything worthwhile, I got out of the habit, and now have absolutely no motivation to try.

The good thing about selling on eBay is it doesn't cost a lot to try. It's not like opening a real store where you have huge expenses right off the bat. If you can find a few really cheap items just to get started with, give it a try and let it grow from there if you are successful. Don't spend a lot right away.

 

[pryncess527]

I sell on eBay, but like a previous poster it's only stuff I own that I'm getting rid of so it's extra cash for me.

Ditto. I'd be hesitant to spend money investing in product for the sole purpose of reselling on eBay.

 

[ceecee]

I sell and buy on Ebay often, but when i sell its usually a high value item that I am going to get rid of anyway. So any money I make is extra cash to buy things I want.

As far as a business I would steer clear. Unless you are selling something that you create, that had little over head and investment , its simplely not going to make you alot of money.

Ebay is really screwing the sellers over. These days a buyer can just contest an auction saying you did not represent the product correctly and the will access your paypal, remove the funds without your consent. Its in the contract.

And it happens, one transaction like that and you lose alot of profit.....

What are you thinking of selling?

 

[jessrose18]

just remember as well at the end of the year you have to claim any profit on your taxes, most likely as small business, and they take a chunk of the profits as well.....

 

[aliceindisneyland]

When I think "estate sale" I think breakables, antiques, etc.
No way would I attempt to sell those on ebay! Too much can go wrong - damage, complaints, mistakenly selling a knockoff/reproduction.

It takes only a small investment and then a few months of waiting time to start, but since you have kiddos, this is what I have done to dress my kids for free, which I guess is the same as bringing in a small income!

(You could definitely put more effort into shopping for great deals and buying with the purpose to re-sell.)

I don't particularly like Gymboree or Mini Boden (I personally think Target clothes are cuter!) but some moms lose their sense of reason when it comes to those brands, and that's where this pays off: Buy your kids' clothes either new or in very good condition from ebay - only buy the brands that resell at a high price, and that most moms have heard of. Gap is another good one. Don't buy anything Gymboree or Gap *outlet* though, people turn their noses up at that for some reason.

This goes for shoes too - it helps to figure out your kids' European shoe size and search by that for the higher end kids' shoes.

So your kids wear cutie pie clothes, you are careful to get stains out [but don't worry if they ruin their clothes, people will buy ANYTHING if it's the right brand, and as long as you're honest about the condition, you're good!] and then you pack the clothes away once they've outgrown them.

And you wait...until you notice that Target/Kohl's/wherever you shop is starting to put the next season of clothing out. That's the time you list all of next season's clothes.

You make more than you paid (because you got such great deals of course!) and you put some away and use some to buy your kids' next round of clothes....

Until they're 10 and they insist on buying clothes from Target and then the party's over!

Anyway, you can do that with women's clothes too - I have an acquaintance who dresses herself gorgeously for free and makes a nice profit each month as well just by shopping at Marshall's, Nordstrom, etc. a couple times a week and knowing her brands.

 

[nunzia]

I've sold on Ebay for quite some time,and I do ok sometimes and sell nothing other times. The thing most people don't think about it is it is WORK..It takes work to find the items, it takes work to sometimes learn about what it is and describe it properly, it takes work (and room in your house) to package it properly and it takes work to communicate with buyers. That said, it costs nothing to start (you get 50 free listings a month and that is going up to 100 in some categories). I estimate at least 20% loss in fees, not to mention what I spend on the items. It takes a long time to get savvy on what will sell. It helps to have the app and look up completed items prices before you buy. Be careful of breakables..big pain, and also research shipping costs.. I still lose money on shipping, and since they take their cut (both Ebay and PayPal) of that also, it can really cut into your sales. That said..I still do it after all the years and still feel it is worthwhile.
I think Etsy is the hard one.how on earth do you attract people to find your craft with the zillions on there?

 

[aliceindisneyland]

I estimate at least 20% loss in fees, not to mention what I spend on the items.

Is this the fee for an ebay store?

I'm a regular ol' seller and I pay 10% ebay final value fee, and 2.9%+$0.30 per sale for Paypal fees. So if I sell an item (including shipping price) for $10, I pay a total of $1.59 in fees, or about 16%. [It would only be about 13% for a $100 sale because the Paypal $0.30 per sale fee eats more of small sales.]

Another cost consideration is shipping supplies. You can build those into your shipping costs if you want; for instance, I add $0.30 to the clothing listings to cover the cost of my poly envelopes, and we charge very high flat rate shipping on the rare items DH sells since they are a major pain to package and insure. (No one has complained; they're happy about the extra effort we put into packaging.)

 

[marymac123]

I sell on eBay, but like a previous poster it's only stuff I own that I'm getting rid of so it's extra cash for me.

Occasionally, I might find an item at a yard sale or flea market that I know I can make money on, but I don't do it often.

I wouldn't use it to start a business.

This is what I do. I wouldn't actually start it as a business. I will also buy up some clearance items that I think might sell well. I made enough last year to pay our taxes in just 2 months. This year I am working on our WDW trip.

 

[AZMermaid]

I have a friend who does that, but sells first on local Facebook Swip Swap sites and Craigslist. eBay is a final stop for things she knows there is a big market for (little einsteins toys in particular). But there are no fees on the first two. Most people on the Fb sites do a porch pick up, you just set it out at an arranged time and the buyer puts the money under the mat. I'm picking up shoes later today using this method!

 

[richmond282]

I would be too scared to use EBay for my bills, but for extra spending cash, go ahead. I have been selling on EBay for about 2 years now. I usually make about $200/ month, more closer to Christmas, less sometimes though.

I have found that I need at least 100 listings to get my viewers up. For some reason when I have less, I sell nothing. I did not open a store. I just use the free listings available every month. You can now relist 3 times for free.

I don't usually do auctions (unless they are free or something.) If for some reason, I do list as auction, I also include a "Buy It Now." I have just found that most buyers don't want to wait for an auction to end or they don't want to compete for an item.

I assume approximately 15% in fees. I consider this when I price an item. If I want to make $50, I'd list for $60 (paying $9 in fees, clearing $51). So many people complain about the fees, but I find that as long as I account for it, it's no big deal. I still make way more than if I listed an item on craigslist or had a yard sale.

I try to have various price points listed. You don't want to list only high ticket items but you also don't want to only list low priced items (no profit there unless you sell a whole whole lot of whatever it is.)

Determine what you want your profit margin to be. Remember your time is worth something. I don't necessarily have a set way of doing this, but I don't always undercut others' sellers prices. If you price too low, buyers will question quality and you won't make any $.

Keep good records. I keep a list of what items I have, where and when I purchased them, how much I paid for it, how much it sold for, what my fees were, and how I packaged it (to determine cost of packaging.) You need this info for tax purposes. It's much easier to keep track as you go instead of trying to figure it out as your tax consultant breaths down your neck.

Focus on 1 main genre of items. There really is no way to be an expert in everything. Decide what you want to focus on. I sell a lot of children's items, mostly toys. I do my research to determine what sells and for how much.

I set a price point for how much I am willing to pay for an item based on how much I think I can make on it. Pick your price point and stick to it. It you spend too much $ on an item, you will not make any $. And that's really the point isn't it?

Don't buy torn, dirty, stained, etc. items b/c they won't sell or, if they do, the customer will get upset and want their $ back.

Sometimes you just have to take a chance. I found an item a year or so ago, that I couldn't find listed anywhere. I paid $12 for it on a whim and sold it for $125.

Hope some of this info is helpful. Good luck on your business venture.

 

[nunzia]

Is this the fee for an ebay store?

I'm a regular ol' seller and I pay 10% ebay final value fee, and 2.9%+$0.30 per sale for Paypal fees. So if I sell an item (including shipping price) for $10, I pay a total of $1.59 in fees, or about 16%. [It would only be about 13% for a $100 sale because the Paypal $0.30 per sale fee eats more of small sales.]

Another cost consideration is shipping supplies. You can build those into your shipping costs if you want; for instance, I add $0.30 to the clothing listings to cover the cost of my poly envelopes, and we charge very high flat rate shipping on the rare items DH sells since they are a major pain to package and insure. (No one has complained; they're happy about the extra effort we put into packaging.)

That sounds right..about 16%-13%..I just round up to 20% in my head, since I hate paying 10% on my shipping fees and I buy shipping supplies and often undershoot the shipping cost so lose on that. I don't build in cost..I try to start bid fairly with hopes it will go up and also try and hit actual shipping cost plus maybe a bit more to cover the 10% fee, which goes along fine until I undershoot the shipping and lose several dollars. Clothing is so easy to ship, but I rarely run across anything of value in that area.