Looking for an easy way to subsidize that long weekend in the Keys without sacrificing any of your savings? We asked eBay guru Michael Miller, author of Absolute Beginner's Guide to eBay, to show you how. Take stock of your unused junk, err treasures, and read on.
Make sure it’s the best time to sell
“First, think about seasonality of your item,” says Miller. “You don’t want to sell snow skis in June.” Even if your item crosses the weather lines -- say, a television or a silk screen machine -- there's seasonality on eBay, a time when the sales tend to be the highest. “October through February are the heaviest months, and they peak before Christmas,” says Miller. “Sales also go up after Christmas as people start unloading the presents they don’t want." However, sales taper off in the summer months, when people are on vacation, outside, and not in front of their computers. It doesn’t mean your item won’t sell, but if you can hit the peaks, you’re better off.
Spiff it up
Ask yourself this: Would you buy your item looking like it does? If not, give it some TLC to bring it into great sellable condition: Wash it, dust it, bind it with items that go with it. Treat it like it’s going to a photo shoot…which it is.
Take shots of the good and the bad
Take detailed photos of the item from multiple, flattering angles, and in some cases, take close-ups. “Take photos of the details that matter,” says Miller, which means close-ups of the label or stitching inside an expensive handbag, of the autograph on a sports item, or of the stamp on the underside of designer furniture. Likewise, you need to show the item's faults, so take pictures of damage or blemishes too. This not only assures you’re being honest for your own sake; it also makes you more trustworthy to buyers -- and more likely to make the sale.
Write it up like you’re putting it in a catalog
“The more information you can present, the more potential buyers you’ll have,” says Miller. In other words, talk about the details. If you’re selling a DVD player, include the brand, the measurements, the features, the compatibility of it, and other significant info a buyer would be interested in. “Act like you’re writing a catalog description for Land’s End,” says Miller. “Remember that when someone can’t be there to touch or feel or smell an item, they need the surrogate senses to help.”
Make the most of your item’s title
When you're titling your item, eBay gives you 55 characters to work with. “If you only use 54 you’re wasting one,” Miller says. When it comes to the words you use, remember this: “People don’t browse eBay, they search eBay,” explains Miller. Therefore, make sure to include words people search for, such as the brand, model number, production year, and special details, like an autograph. A vague title like “New Furniture” isn’t going to come up in a search the way “Mid-Century Danish Chair, Like Herman Miller’s” will. Also important: “Avoid worthless nonsense characters in your title, like exclamation points and asterisks,” says Miller. Not only is it a waste of precious space, he says, but “eBay will flag it if you put four asterisks in a row.”
Price the shipping beforehand
“The biggest mistake I see people make is they underestimate the cost of shipping,” says Miller. “They think it will cost $3, but it costs $8.” For that reason, Miller recommends you figure out the shipping cost before you put your item up for auction. And that means weighing your item and the shipping materials. If you’re planning on shipping many items, invest in a postage scale, which can be as inexpensive as $20 at an office supply store. Then use an online shipping calculator for whatever delivery company you choose. Or, if your item can fit into a flat-rate box or envelope, use that. All the extra shipping costs can really add up.
Set the bidding to begin and end at the right times
Set your auction at the seven-day default length for the best effect: “It gives everyone one day out of the week to see your item,” says Miller. Then, plan for your auction to end when most of your potential audience will be at their computers (because, thanks to sniping, most of the bids will pour in at that final minute). Miller says prime time is in the early evening, between, say, 6 p.m. and 9 p.m., to account for multiple time zones. The best day of the week? Sunday. More people are home on Sunday evening than any other, he says, so make that your end date if you can.
How to make the big bucks Now that you know the 411 for logging onto eBay and setting up your account, which items will help you hit that $1,000 mark? Look no further than your own closet. Brand-name designer items are the best to sell. Maureen Ellenberger from auctionpal.com says, “The average sales price for a Coach handbag is $98, a Juicy couture bag is $96, and a slightly used but well loved Louis bag can go for $388.” Your designer bag fetish might be your golden ticket. Just ask Nestie Mikes_Wife06 who made $774 by selling her designer handbag on eBay. Her best advice? The better the pictures, the faster you’ll sell your item.
And it doesn’t stop with handbags -- brand-name electronics are also extremely popular on eBay. Old iPods, mobile phones, PDAs, and laptops (even if they’re broken) can bring in up to $350. Is there an old Nintendo or Gameboy stashed away in your basement? Average sales prices for Nintendo 64 systems start at $61.90 (throw in your old games and that price can go up to $200)!
After you go through your designer items and electronics, start thinking about all the unused stuff you got from your wedding registry (or from merging your stuff). Do you have two dining room sets or an extra blender or two? Set up a photo shoot in your living room and start uploading!
Tip: To find out the prices of things on eBay, go to auctionpal.com for their calculator that allows you to type in a product and receive an average sales price for that item.
See how the price was right for one editor of The Nest:
KitchenAid blender: $47.50 Casio digital camera: $147.34 Gucci handbag (gently used): $212.37 Nintendo 64 + 10 games: $192.50 Futon (totally his, not mine): $121.66 20-inch Samsung TV: $50 Stainless steel cookware set: $97.08 Dell Inspiron 8200 laptop: $179
Total amount: $1,047.45 (Start checking those flights!)
-- Amy Spencer
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