Patience is a Virtue...
A large attraction to buying and selling on eBay is the excitement of bidding for items and watching the price of your items rise.
The problem is that you can get carried away and end up logging into your account every 5 minutes to check whether someone has made a new bid.
Your time would be better spent in other areas.
Rather than watching your items like a hawk, try instead using your time more constructively.
Here are a few ideas which could increase your profits and help you resist the temptation to check your items again:
(1) Check on your competitors.
What are they selling at the moment? How have their last month's worth of listings finished? What have they been bidding on?
eBay provides all of this information freely. All you have to do is search for Items by Bidders or Items by Sellers under the Advanced Search menu.
By doing this you may well find a new product which you hadn't thought about before.
(2) Build up your list of past buyers.
If you haven't already done this, make a list of their email addresses.
If a past buyer had bought a similar item to one you currently have listed, he may be happy to receive a quick mail from you letting him know what you have for sale.
Always include a little note at the bottom of the email allowing your buyers to "opt-out" of your notification emails. Asking them to reply with "Unsubscribe" in the subject will give them the chance to let you know they'd rather not hear from you.
(3) Look up current hot selling items on eBay.
If you were selling DVDs, you would search for completed items with DVD in the title. The list will be huge.
However, if you sort this list by Highest First, it will show you the DVDs which have commanded the highest winning bids. If you can find these DVDs for a low price, you may be onto a winner.
(4) Do some "housekeeping"
It's an excellent idea to keep track of your eBay accounts. Seeing your profit rise on a spreadsheet is a great motivator.
If you keep an up-to-date, honest record of your buying and selling antics you can instantly see your current profit/loss. It's easy to fall behind and taking a few minutes each day to update a spreadsheet will save you a lot of time in the long run.
(5) Check your supplies
Have you got enough packaging for your current auctions? Is everything in one place ready to find easily? What about your printer, will you have enough ink to print off all the PayPal packing slips? Take a little time to make sure everything is in its place.
|TIP: Keep pens, sellotape, sticky labels, Recorded and Special Delivery slips etc in a box. Replace everything when you are finished with it and keep it in a safe place. Then, when you actually come to packaging your items, you won't be rushing round the house trying to find everything.
(6) Keep your "My eBay" page tidy
Have you left all the feedback you need to leave? What about any queries? Have you answered all the questions bidders have asked?
What about auctions you have won? Have they all been paid for?
It's certainly a good idea to check on your items perhaps once a day. You will make a good impression if you answer questions quickly too.
What you will probably find is that if you leave the items to it, the difference from day to day will be greater and much more exciting!
Till next time, thanks for reading.
P.S. If you have any questions about eBay or any of the content of this site, please use the Comments page to email me.