Need advice about Ebay.

[syl]

I'm new to selling on ebay and just wanted to ask for some advice from those with more experience. First have you seen a drop in bidding and lower prices since this recession started? And what is the best strategy for setting a reserve? Some people say to have no reserve but that sounds risky. Should you set a reserve at the lowest amount you would accept? Thanks for any thoughts. By the way, I've tried to sell some things on Craigslist and you can't believe the scammers that come out of the woodwork. They want to send me a 'certified' check for more than I'm asking and want me to mail them the item as soon as I get the check. Right! Seller beware!

[waywardangler]

I would think a starting price to cover your item's cost to you rather than a reserve would be better as long as it is not ridiculously high.  Many bidders will not even look at an item if there is a reserve.  After all, a reserve is nothing more than a hidden, actual starting price.  Another thing to look at is the listing fee to you and the various price points to start at. 

Ebay's selling fees are constantly changing and the new ones actually raises their commission by a good %.  Check out this link...http://www.auctionbytes.com/cab/abn/y04/m01/i05/s01

I have alot of stuff to sell but have been waiting for an alternative auction site.  I have not found one so I am going to have to bite the bullet and feed the eBay monster also, recession or no recession.

[ironlord1963]

      I agree with Wayward  First and foremost is cover your cost, assure yourself you are making something on the item first.  Next you must be concerned with setting a realistic price to compete with the other sellers.  If this means setting your price lower then your profit margin can handle, then the choice is yours with a risk.  What you have to offer can of course mean alot in this game.  If you have nice rare collectible stuff, you will win. 
     I have been selling over the past year, between Ebay, My online store, and Flea Market.  I have managed to sell about 300 items, but my game is one of knowledge and just trying to make the hobby pay for itself.  When it comes to Ebay, things can really get tricky to stay on top.  If you need to get $20.00 back to break even, remember the fees, you will need $22.00 to cover the fees.  10% Rule usually will cover that.  Then watch out for shipping, this can be what will make or break a good deal.  Shipping is expensive, and many times will tip the scale on the worth of the item.  i.e. hard to sell a 2 dollar item with $9.00 shipping cost.  Then the thing the customer hates and really haves a hard to understanding.  Takes a 2 bucks to pack a item safe, and 15 mins if you are set up, thats 12 bucks in labor for you accountant types, of course you never seem to be able to get that. Unless you have something really special to offer.
    Each time I have used Ebay, (4 dumps so far)  I try something different, and I keep every thing well logged.  I could almost write a chapter or two already.  I will spare you all of this, cause I have notice that my ramblings has gotten to the bottom of the box, and If you are one of the rare that has made it this far  Thanks for reading more of my pshyco babble, actually maybe I will add more later, but I really need to get back to life tonight.

[waywardangler]

I, for one, would like to hear the one or two chapters as I think you have a lot of good advice to give from actual experience.   What is the best day and time to list as I have heard Sunday evening is the best?  Ramble on...  We love it.

[ironlord1963]

     As for timing, This last time I spent all week posting a few a day, posted 116, and sold 19 of those items, with only one challage bid that did good, The time before that I posted 100 items ending Sat and Sunday, sold 21 and had three good challage bid.   This week I have about 150 ready for posting I will only start them to end Sunday, see what the % will do.  As a side note this last time I actually faired a bit better profit wise.  Got a great shipping menthod figured out I and actually made enough through shipping profit to cover the fees.  Then I have got a few more better item now.  Keep in mind I only buy things under $3.00 and usually don't make more then a few bucks in profit.  Not ready for the big stuff yet, until I get my ducks in a row. Then maybe I move into spenting 20 bucks and see if I can make $$.00.   I figure by the time I retire I will be able to keep my self a float, beside this is fun 
     I should also add is the reason I do this is to make the hobby pay for my knowledge.  I buy a item, log, take pictures, Spend at least 1 hr. trying to figure out what it is and how much it is worth.  Then write my Tags and Description, and move on to the next. Of course checking out this forum in between  .  With a log, Files, and thumbnails  I have a reference tool to help me learn and understand the value.  Yes I'm a bit crazy, want my secret value formula  .   



         

[waywardangler]

Ironlord, I have some questions.  What is a "challage" bid (or is it challenge bid)?  I do not know what that is.  Is that on ebay or some other site?  If I read right, you are posting over 100 hundred items but 80 or more do not sell?  What happens with the ones that do not sell?  Are they relisted?  Are you tracking what sells and what doesn't so you know what to buy (and for how much) for future purchases?  Listing over 100 hundred items seems like a lot to me and selling 20 and shipping them must take some time.  How do you manage this and still do your full time job?  I have sold a few things on ebay awhile ago (like 2 years) and as I am not a fast typer (2 fingers), I found it took me time to list and especially pack and ship.  I could not imagine doing 20 a day with other things going on.  What is your secret value formula if you want to divulge it?  I must need a course in time management because I do not think I could put up the numbers you are doing.  I find it hard to stay on track because I have too many varied interests. AADD I think -self diagnosed.

[ironlord1963]

     Sorry I make up stupid terms now and then, yes and mispell sometimes, now time for spell check    Challenge bid when you have at least 3 bids.  Two bid is just someone willing to pay more. but then the third is a challenge.   Actually my sale percent is around 12% to 15%, 80 would be a great "dump". ( Dump being when I go back through my old files and relist, and enter my new processed ones.  I will be doing a Cheap dump this weekend, Saturday around 12 pm Western Time, I will begin with relisting items that didn't sale last run, drop the price on some and etc, Post for about 4 hr's as much as I can and then again on Sunday, this time adding any new items that has been Processed.

     As for time well let me say I am way behind schedule with at least 50 boxes of stuff to go through, and still can't stop going to thrift shop, sales and etc, adding more.  But no rush if all in the world stays together in 20 years at retirement, I should be O.k.  Not that I'm not trying to find the early retirement program, shooting for replacing my day job in 2 years.  .   Actually let me go take a few pics of my area just for kicks and grins.  I'll be back 

[ironlord1963]

    O.k. Welcome to a piece of my little world.  I have enclosed for your entertainment a few pics of what I'm doing.  This of course may ruin my reputation on this site, but the risk should be worth it.  .  The first pic is of my photo area.  Get a area set up just to take the pics, try and get as much light a possible, I use photo white balanced bulbs, but any light will do.  Enough so you can get good hand held shots quick and easy.  Marco lens alway a bonus, but most important is a area.  The next three are my WIP shelves, these are the items that is getting ready for the next dump.  They work their way down and then after a couple relist at most the go into the tub for Market or rummage sale.  Have a area just to prep your items.  Then I have a big work table, to pack and prep up each item. 

[ironlord1963]

O.k. how far am I behind, well here is three pics of all the boxes of stuff still have to go through.  These need to be processed to be ready for poating.  I'm betting about 1500 items still to go, This of course not including my hundred and hundred of silverware (silverplate) that is a story in and of itself

[waywardangler]

Ironlord, thanks for the clarifications, I now get what a challenge bid is.  I just never heard it used before.  I think eBay is the reason 'we' buy so much stuff at sales.  If eBay was not around, would 'we' accumulate all this stuff anyway?  Or has it become the excuse 'we' need to buy and buy and buy? I retired a year ago March and my wife is still wondering WHEN I am going to start selling some of this stuff.  I have to start or my room will end up on Hoarders or something.  At least I do not have any rotting food in with all the goodies.

I hope syl is getting some answers from all this.  I would like to hear from other forum users about eBay or other sites as a selling venue.  I was just searching my local craigslist for sleepers tonight but did not find much.  One I have to follow up on tomorrow.  Everyone says we are in a recession but there is no shortage of money or bids at any auction, estate sale, rummage/garage sales I have been to for the last year.  I am not sure about eBay but I think the good stuff still holds up well but the more common stuff has dropped in price.  I just hope I have the good stuff when I sell (soon).

Do you type your descriptions in Word or another program and then cut/copy to your eBay listings or do you find it just as easy to describe everything right in eBay's listing pages?  I often wonder how some of the sellers can use so much copy describing all their shipping/policies, etc. and spend so little copy describing what they are selling. Some items are a picture only and no returns.  It seems they must be copying some of it from a word processing program as I do not think they would re-type it for every item.

[waywardangler]

I like your photo set-up.  That looks simple enough to do.  I will have to get a similar dedicated photo space.  You do have stuff but your method seems to keep it organized.  Nice cube shelves to separate items with.  Thanks for sharing.

[ironlord1963]

      Yes I copy and paste everything, from files I have made.  Let me see If I can describe my method of processing.

1.  Take pics - Here I take at least 4 qick pics. Sometimes a few more when necesssary

2.  I then start by making notes on my Cue card.  This is a index card that  I write information on.  This is a very important tool later on.

3.  Make sure you weigh and measure the item.  Measure is for description and weight is important in figuring out shipping cost.

4.  Then the item is placed on the shelf for processing, Usually I do about a dozen or so items like this before the comfort of the computer chair.

5.  Now at the computer the first thing is make a folder for each item.  Title it something for reference of course.  I use something like "Plat Lun Gla 002"
     This stands for Plate, Luncheon, Glass, 002 being the second one I had made.  Make sure you write this file name on the Cue card.

6.  Now I open the photo up for Crop and shrink.  I will quickly Crop the photo when necessary, and most important is make another set of photo that
     will be used for web, don't want to use those high res ones.  I save these in the same folder, but these change the title   i.e.  "Plat Lun Gla 0021 ,2,
     and etc. the last number being pic 1 2 and etc.
   

[syl]

Thank you Wayward and Ironlord, I am learning some things. When you list Ironlord, do you put a reserve on your items? I recently listed a collector plate and a Spode platter with no reserve. The platter didn't sell and the collector plate, which was nice but not worth a whole lot, sold for 99 cents. I charged $12 for shipping and used a flat rate box so I pretty much broke even. But if you have something that you know is worth considerably more, say $100-$500, you wouldn't list that with no reserve would you? And good pictures and descriptions are a must. Correct me if I'm wrong but I think you can list up to 5 items in 30 days for free. Sounds like Ironlord blasts through that in about 15 minutes. Anyway, thanks for the help and I'm also looking for alternatives.

[ironlord1963]

7.  Here also you want to make sure you also in another file save a thumbnail.  In a folder save the 1st overall good pic with the title being the same as  
     the item.  This is your thumbnail, small pic of the items, so when you need to find the item by visual, needing to see the item, you can find the file
     name, cue card, and even in which box it is in.

8.  Next in the same file as the product pic, open a text Doc. page.   Here is where you write first your Tags (Plate, Luncheon, Johnsons and Sons, Royal  impressions, and etc).  Tags are very important for customer finding your item.  Ebay has a 50 letter limit, but write as many as possible.  

9.   Research - Now spend a little time looking around for more info - Don't get caught up in over a hour (unless it is worth It).  First take your Tags and copy and paste this to the ebay search engine.  Note this is a good test of your tag, see what comes up, note the number and values, maybe consider changing tags to get better result.  Then poke around the net for a few minutes

10.  Write description now in the text file of the item write the description of the item, with what you now know, don't forget to write down the measurement and weight of the item.

11.  Now the Log.  Create a log just a simple spread sheet with title, tags and location (which box it is in)  price paid and what ever else you wish. Mine is a complex thing that woulul take a chapter on it .


  

[ironlord1963]

  Syl no I don't put a reserve on any items yet.  Keep in mind that thus far most of my items would be lucky to get $20.00, if it was worth that I would give myself a year more of experience then maybe on Ebay, Most likely that would be saved for the flea market.    As for the 5 items for free, yes but not after the 30th, that deal changes.  After the 30th you can list .99 start price auctions for free. Up to 100 a month.  Boy will I cash in on this one.