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An
Introduction to eBay Consignment Selling
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by:
Terry Gibbs
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After I started selling on eBay, I was approached by friends without
computers who wanted me to sell their items for them. They had heard
stories about the outrageous prices items some ebay auctions brought.
They knew I could get more money for them on eBay than they could get
selling the items themselves. An added incentive to them was I did all
the work. All they had to do is say "I don't want this anymore, sell it
for me;" and within a few weeks I converted their castoffs into cash.
I was already selling on eBay, and I had developed a system for listing
and dealing with sales that allowed me to list lots of items in a short
time. The chance to make a few dollars without any investment was too
much to pass up. I made some good money doing this and because I didn't
have to tie up my money buying inventory I was able to use it to grow
my train business.
Consignment Selling Is The Perfect Way To Start Your Own eBay Business.
There are no set up fees or investments. You won't need to risk your
own money buying items to resell. You don't need a detailed knowledge
of antiques and collectibles. You only need to know how to find the
right category, write an adequate description and take some high
quality photos.
Selling on consignment allows you to learn about antiques and
collectibles without risking your own money. By selling other people's
items you learn the value of items in the most practical way. By
handling them and selling them. No matter how many price guides you
read, and antique shows you attend, you will never get the feel for
items until you sell them.
When you sell on consignment, you provide a service that makes your
clients additional money. When most people sell something, they sell to
a dealer who needs to mark up the item to make a profit. This is not
what happens on eBay.
On eBay the END USER is the buyer and will always pay more than a
dealer would. Even after paying a consignment fee, the seller makes
more money.
This is the true benefit of eBay consignment selling. Finding the END
USER. Before eBay this was a difficult and daunting process. With eBay,
a simple listing placed in the correct category, with a good
description and some high quality photos, is enough to get a few END
USERS to fight over the item.
Things You Need To Succeed With Consignment Sales:
1. You need to take possession of the items. When you sell items on
consignment you risk your eBay name and reputation. You take these
risks when you sell your own items, but you are in complete control of
your actions. In order to lower your risks you need to get complete
control of the items you are going to be selling. This prevents sellers
from changing their minds, and allows you to ship the items as soon as
you receive payment.
2. You should always have a written contract. One of my friends was
sued by a consignor who felt the commission was too high. The consignor
agreed to pay 20 percent of the selling price, then when the item sold
for $8500, got upset about paying $1700 to someone for doing 30 minutes
of work. While my friend won in court, it would never have gotten to
court if he had a written contract.
3. You'll also need to perfect ways to get items. At first your friends
and co-workers will provide you with a good stream of salable items.
After a while this stream will dwindle and you will need to go out and
find consignors. This is not as difficult as it may seem. Remember, by
consigning with you, the seller gets more money than they would
otherwise.
About the Author
Terry Gibbs is the author of two best selling eBay
books "The
Auction Revolution," and "The
Complete Guide To eBay Consignment Sales." Learn more at his
website: http://www.news.iwantcollectibles.com
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