“Wealth is the ability to fully experience life.”–Henry David Thoreau
I first joined Ebay about 5 years ago to buy some designer clothes that I saw on there much cheaper than if I had bought it in a store. Thinking back if I had known about FIRE back then I would have invested the money since I had it spare!
Anyway since the lack of income I thought I would revisit ebay but this time as a seller. Now I have sold a few items before without really having a clue what to do and even sold a product that was broken without checking it worked. Not this time. I have quite a lot of clothes from myself and my daughter that she has grown out of (length ways) and I have grown out of (unfortunately width ways) so I thought its time I reintroduced myself to selling on Ebay with a simple selling guide (I wouldn’t want it to feel like Ebay is hard work)
What is Ebay?
For those of you new to this sort of thing its actually quite simple.
Ebay is an online marketplace which bring buyers and seller together. Ebay gives you an opportunity to nab yourself a bargain by buying cheaper than retail price in some cases along with providing the opportunity to sell your unwanted/unused items and making a profit. Some people actually make a living this way and if my selling takes off then I’m definitely going to review that!
How it works:
Listing the item for sale is super easy too as ebay talks you through it!
Whats the cost?
Now it can appear relatively complicated as there are a few sets of fees involved.
- Listing Fees – You can list 20 free items a month but keep a look out for Ebay special offers! I’ve heard Ebay regularly offer listings for 100 items free.
- 10% of the overall sale price (including postage charges) are paid to Ebay as their “fee”
- Payment Fees – Honestly Paypal is the only way to go with regards for taking payment. You are totally covered then. Of course Paypal will charge you for the privilege of using their service and that is 20p per transaction and 3.4% of the total sale price.
- Lastly don’t forget your packaging fee. Sure you get your postage back but you have to wrap the thing first. Include this in wither your sale price or your postage fee.
And thats it! I’m off to start selling all my unwanted items and I will check back in a month when I bring you my Monthly Income report. If it works you can bet your money earning bottom I will be sharing an updated guide with you and I may even talk Mr Fire into pulling together a fee calculating spreadsheet so its less of a chore to work out profit.
I’d love to hear your ebay selling stories and tips!