Chillichap's World - Selling on eBay - My Top Tips for Success & Pitfalls to Avoid

Hello!

Set up in 1995, eBay now exists on 190 markets worldwide. Individuals, companies and even governments buy items on Bay, as long as it's legal. 

I basically took five English pounds and bought what really was a load of junk at a car boot sale. I put all of that 'junk' for sale on eBay and most of it sold. I recognised that I actually had a genuine business on my hands and registered myself as a business with HMRC straight away. This was about 15 years ago. So today I come to you as a seasoned professional seller on eBay. I'm going to share with you my top tips for success, but with a caveat - seller beware - it's extremely hard to run an internet-based business. This advice is tailored for Buy it Now listings-the format which I use mostly for selling on eBay and not auctions.

TIP 1 - PUT THE CUSTOMER SERVICE FIRST

It may seem obvious, but you haven't got a business if you don't have customers. Every day I see new sellers come in. They copy the blurb from other sellers like me and sometimes will even copy pictures too (which you can ask them or Bay to remove). But pretty soon they've got negative feedback. This is because they're trying to make a quick buck, and are not looking after the customer. This is your number one priority-keep your customers happy. Post your sold items ASAP. A happy customer will give you positive feedback and will return. Negative feedback can destroy a business in its infancy.  A 100% rated seller is going to pick up more buyers than those sellers with poorer ratings-it's obvious.

TIP 2 - GIVE AN ACCURATE DESCRIPTION WITH LOTS OF PICTURES

I see so many things for sale where the seller hasn't done their homework on what they're selling. If I take books as an example. I see sellers saying that the book they're selling is a first edition when it's clearly not. Don't try and lie to the customer - this is a surefire way to get negative feedback or have to give a refund. Other examples with books are forgetting to put the Author's name in the title or not stating that the book is a hardback and not a paperback which can sometimes double the price. If there's damage-point it out. Otherwise, it may come back to bite you especially if you're saying something is in 'mint condition' (I rarely do this, because few things actually are). Respect your buyers and don't be economical with the truth. A really nice picture of the item you are selling will work wonders. Try and use natural light and a neutral background to take snaps. Provide pictures of your item from multiple angles. Buyers want to really know what they're getting and that there aren't any hidden gremlins. Describe your items, warts and all and you'll get more sales because your feedback will reflect this honestly.

TIP 3 - PROMOTE YOUR ITEM IF THERE'S LOTS OF COMPETITION

There are all sorts of parameters by which buyers search for items on eBay. One is called 'Best Match'. You can pay eBay to zoom your item for sale up the best match list by paying an extra fee if it sells under best match. eBay will suggest a rate-beware this can sometimes be wrong. I often get a suggested promotion rate that is much higher than what is needed for my item to be at the top of best match. Sometimes as little as a 5% promotion fee is enough.

TIP 4 - DO YOUR RESEARCH TO GET PAST CHARGES & POSTAL COSTS

You find something to sell. You list it on eBay and it sells. Great! But when you've got past eBay's charges, you find that something you sold for £5 suddenly nets you just over £4. You then have to post the item which may involve a padded envelope and could be classed as a parcel. Royal Mail 2nd class parcel prices start from £2.99. Technically, you could be left with £1 or less from the sale of your listed item. It's a lot of effort for very little money. Do your research on what will give you the best profit margin first.

TIP 5 - DO REGULAR PRICE CHECKS & UNDERSTAND YOUR COMPETITION

There's a lot of competition in selling things online these days. People are struggling to pay the bills. If you list an item, it's not just buyers who are watching you-your competitors are likely watching any new items coming online to compete with their products. I've known some of my competitors do 6 or more price checks a day to ensure they're the cheapest on eBay. This is extremely tiring and it wrecks prices and profit margins. Every now and then you are going to come across a demented seller who'll undercut your price by a stupid amount. My advice is to let them sell out, otherwise, you just won't make any money. Remember you only have to be a penny (or cent) under your competitor's price most of the time.

TIP 6 BE REALISTIC WITH YOUR PRICE AND ALLOW OFFERS

There's no problem in starting high with your sale price, but eBay is the auction equivalent of a car boot sale in my opinion. People go on there to find bargains. If your item isn't selling, consider putting the price down and add an option on your listing to take offers. I will allow offers usually up to 20% below the asking price. The psychology of most eBay buyers is that they want to come away with the thought that they've nabbed a bargain. Try not to get sentimental about things for sale if you can. I know this is hard with some cherished possessions where finances necessitate a sale. The buyer won't share your sentiment-how could they?

Well, I hope you find my advice useful and feel free to ask me any questions. 

Thanks for reading

Matt AKA Chillichap