BUYING AND SELLING ON EBAY: A COUPLE OF HINTS

EBay and other online Internet sites are a great place to go to save some money. I primarily have bought stuff for resale however, I have bought Cd's, Videos etc, for personal use for prices as low as 99 Cents plus another $1.00 for Postage and Handling. These were great bargains since I had already checked in the local retail stores for these same items and they went for between $14.99-$19.99.

I want to begin with a couple of cautions when buying and selling items on EBay. When buying items, make sure you are not getting a fake or counterfeit item. Rare coins, paintings, precious stones are all prone to counterfeiting along with other items. Be especially Leary of items from foreign lands. A couple of years ago there was a real problem with silver coins from China. There have also been problems with fossils and gem stones from overseas vendors. So be careful.

I also want you to be cautious not be pay too much for an item, particularly when you are buying it for resale. Be sure that the price you are paying for the item, including postage and handling (total cost) can be gotten out of the item at resale. Ask yourself: What would you do different than the vendor you are buying the item from? You need to add value through better marketing if you are going to get more out of the item than the person you bought it from. (Hint: I have found that buying items during the week and selling them on the weekends can minimize the price paid and maximize the sale price. There are just more bidders on the weekends after payday and, people are more relaxed on the weekends and might tend to pay more for the item.)

Sometimes buying in bulk(or lot) on EBay can make you money when you break down the items and sell them individually or in smaller lots. (Caution: Sometimes people will pay more for lots than you can buy individually because some people believe no matter what they pay for something in bulk, it is always cheaper than buying the items individually).

One very important item to consider is,how much of a discount will you get on combined postage and handling for different auctions from the same seller? Make sure to e-mail the seller ahead of making bids on his items to get him to commit to a specific discount for buying multiple items. If you are a seller, it is best to set the amount of the discount ahead of time so the bidders don't have to bother e-mailing you.

Overall, make sure you take care of your customer once the bids are over and it is time to ship the item. Get it out as soon as possible (after you have received payment of course).