Why Doing Your Ebay Research Can Pay Huge Dividends
Do you home work…. Brings back memories of your childhood maybe. But did you know that top business man Dale Calvert recommends this very method of growing a business on eBay. That’s right a little bit of eBay research goes a long way.
Look around and find out what’s selling and whats hot on eBay for collectibles.Spend a few hours a week at local auctions or scanning the online catalogues and you could be quiting the day job faster than you might be thinking.
What entrepreneurs like Dale Calvert point out is eBay is a highly competitive market place especially if you are try to compete in the main stream markets of electronics and games and the like.
Remember the origins of eBay were as a collectibles and antiques selling platform not as many see it today as electronic flea market.
To be a serious player in the antiques and collectibles markets you have to have your head screwed on right, do your research and have your finger on the pulse both on and off line.
Some time ago Calvert found an old 1898 Harper’s Review listed on a local auction. A lot of us may not have even noticed it but it rang some alarm bells for him.
He did his homework by checking on eBay and saw that it had sold for $500. With that knowledge neatly tucked into his brain he headed for the auction. He bought the book for $40 and sold it for $480 within the week.
On another visit to an auction house he was able to buy some presentation screens which he picked up for only $225 and managed to flip them using ebay for a $1500 pay day. Nice work if you can get it!
You don’t have to adopt the buy em cheap stack em high philosophy to make a couple of thousand bucks a month. It can be quite low key.But checking the local newspaper for classifieds and auctions. Go on the internet and then refer back to what has been selling well on eBay and at what price.Simple really but so few understand it.
If you want to double your money a simple formula Dale Calvert recommends is never bid more than 50% of the eBay selling price and you are pretty much guaranteed success every time.
It’s obvious really at local auction there are maybe at most 100 to 200 people with a fraction of that bidding so your market competition is so much lower.It is just sound business.
The auction price you pay there reflects that. Then you are taking that same product into a market of hundreds and thousands of people who are interested. And the price you get for it reflects the demand.
If you hang about in auction sale rooms and know your market on eBay you soon have a handle on this stuff. Don’t be suprised to find that people collect almost anything from beer mats to antiques and once you recognise the valuable from the junk your income will grow rapidly.
Tags: Auction Sites Money Making Tips, Auction Sites Buying Advice
