Listing your first item on eBay
Saturday 07 November 2009
by SaleHoo.com
When I first started my online business, I wasn't sure where I wanted it to go, and what I did was sign up with SaleHoo. Everything was quite easy to follow. Basically, some of the things I found very helpful was the fact that, one, it was for life, so I didn't have to pay for SaleHoo every year. It has helped me from the get-go, and its been renewed every year, so I don't have to worry about it. They give you some hot tips, some tricks, supplier suggestions, and one of the things that was very important for me was that I didn't know the difference between a drop shipper and a wholesaler. Whats right for me basically. So all I can say is that I have been extremely happy with SaleHoo, and I would recommend it to anybody. I feel that the online free resources alone are very helpful, but you can also go and discuss it with other members. You can actually give your opinion on suppliers that you have used or that you do not use, or if your not sure what type of product you want, they will help you. Each time also that I have recieved a newsletter, its been helpful. I've been reading it each time, printing it off, and re-reading it over and over again to help my business get stronger and stronger, and actually my sales have increased as well. I owe it all to my hard work and to SaleHoo as well, so thank you very much.
Want to be the next SaleHoo success story?
You should have a few items in mind now that you'd like to sell. So this week, we'll be taking a look at setting up your very first auction - your most exciting task so far!
There are heaps of different options to choose from when you go through the set up process. The aim of this newsletter is to help you navigate through these options. I'll also be giving you heaps of advice on how to make the most out of each selection you make!
But before we get started though, let's take a look at the costs of selling on eBay.
How much will an eBay listing cost me?
eBay charges sellers fees for the privilege of listing on their site. For every item that you list, you will have to pay a fee based on the starting price. However, it's a tiny cost. And for the few cents that you pay, you have access to a worldwide venue for selling your item to an audience of millions.
You also pay a final value fee once your item has sold. This is a form of commission that eBay takes for their services, and the percentage depends on what your item sells for.
For latest pricing updates go to:
http://pages.ebay.com/help/sell/fees.html
These three fees are the ones you have to pay just to sell on eBay.
But, if you want to, there are plenty more opportunities to spend up!
For all the 'extras' that you add to enhance your listing - such as setting a reserve price, selecting a background design, and including more than one photo - you are charged additional fees. Don't panic though - these are only a few cents each!
My point is that eBay is not free - but it is cheap for the immense value that you receive.
How do I pay my Seller's Fees?
Depending on when you created your seller's account, eBay assigns you to a billing cycle. On this date each month, eBay totals up your fees from the previous month and emails you an invoice.
To find out when this will be and check up on your account balance, go to the eBay site map and then click the link View Your Account Status or Invoice.
You can pay your fees in any of the following ways:
- PayPal: Get the amount of your current invoice charged to your PayPal account. You can also set up an automatic monthly payment.
- Credit Card: If you keep a credit card on file with eBay, your sellers feeds will be automatically charged to it a week after you receive your seller's fee invoice - unless you specify otherwise.
- eBay Direct Pay: For this payment alternative, give eBay your check account and rout numbers. At the end of your pay period, you bank account will be debited with the invoice amount.
- Checks and money orders: This is a much more time-consuming option, but if
you want to maintain keep your finances completely private, this is the way to do it You must
include a payment coupon, available at:
http://cgi1.ebay.com/aw-cgi/eBayISAPI.dll?PayCoupon.
Setting Up Your Auction
And now what you've been waiting for! It's time to sell sell sell! On the eBay home page (www.ebay.com) click on Sell. Or go to the address http://sell.ebay.com/sell. If you haven't signed in or created a Seller account, you will have to do so now before you can proceed any further. Then, click on Sell Your Item.
Step One: Choose a Selling Format
Your first task is to choose between a conventional online auction or an ad format listing. An ad format listing is used for services or properties for sale to generate leads - it does not lead to an actual sale. We'll be talking more about this in later lessons.
The regular auction format is the most common option, and this is what you are going to be using right now. Conventional online auction is automatically selected, so just click Continue and carry on to the next page.
Step Two: Selecting a Category
Next, select the category in which your item will be displayed. It's quite important to choose the most appropriate category to get maximum interest as many buyers search by category.
If you're not sure where your item belongs, you can enter item keywords into the search box at the top of the page and eBay will suggest the most appropriate categories for your item.
See my example for 'Parker Pen' below:
Another reason to choose carefully is because eBay maintains the right to transfer mis-categorized items to a more appropriate category. Also, if you place an adult-only item into a regular category, then your item may be removed altogether.
On the next screen, you are asked to select subcategories for your item. These help eBay to list your item more effectively, so that buyer's are more likely to find it.
For example, if you item is a Parker Pen, then its main category might be collectibles, but it might also be in the following subcategories: Collectibles & Pens & Writing Instruments & Pens & Ball Point & Waterman. (eBay will give you options at each level - you don't have to make these up yourself!)
If you would like to give your item more visibility, then you are able to select a second category on this page also. Note that insertion and listing upgrade features will be doubled if you choose to list in two categories.
Step Three: Create a Title and Description
Your title and description is essentially your sales copy. This is what potential bidders will read. It has to be accurate, comprehensive and alluring all at the same time. There are lots of secrets to creating a really good title and description and we'll go into much greater detail in later newsletters!
For now, write your title with these factors in mind:
- Use descriptive keywords that clearly announce what you are selling.
- Include brand names, or the artist or designer's name.
- Make sure that you state exactly what the item is - even if you are repeating the cateogory name
- Use words that buyers might search for
- Avoid including superflous words like 'wow', 'look', or 'brand new'.
Let me give you an example of a title. A good, clear title for my Parker pen example might be: 'Vintage 1935 Gold Waterman Ballpoint Parker Pen'. You can also choose to add a Subtitle for an extra $0.50. eBay gives you an example of how this will appear on screen.
Step Four: Specify Item Specifics
For some categories, footwear for example, you can provide extra details that can help searchers find exactly what they're looking for. You can also specify the condition of your item by checking 'New' if it meets the requirements of a new item.
Then it comes time to enter your item description.
A few weeks ago, an eBay and Salehoo newbie emailed me and asked: "If you could give me one piece of advice about writing an item description, what would it be?" I replied straight away with the answer "Make it so honest that you cringe".
As odd as that sounds, I've found that the best tactic is the warts and all description. It's very imporant to be completely honest about the condition of your product. Include details such as age, color, brand, size, and any damage.
You see, nothing is more likely to cause you problems on eBay than a description that glosses over any imperfections. Of course, if you're selling new items, you won't be cringing quite as much. But it's still extremely important to be very specific about what the buyer will receive.
Don't give them any room to make assumptions which might be proved incorrect when the item arrives. Are you selling new lamps? Then include that fact that they don't arrive with bulbs.
***Tip***
It's a great idea to use bulleted points to list your item details. This makes it very easy for prospective bidders to browse your listing and comprehend the features, benefits and condition.
Step Five: Duration and Pricing
Auction length and start and finish times can all affect bidding - as can starting price. You can choose a starting price and whether to add a Buy It Now price (this circumnavigates the auction process) or a Reserve Price for extra fees.
Note: you won't be able to choose Buy It Now price unless you have a feedback rating of 10+ or become ID verified.
Recently, eBay have also added a donation feature, so you can donate a minimum of US$10 from the sale of your item to the non-profit organization of your choice.
Next, choose between 3,5 and 7 days for the length of your auction. Or pay an additional $0.40 for a 10 day auction. Then select whether you want the auction to start straight away (as soon as you submit the auction), of at a scheduled start date and time for an extra $0.10.
***Did you know??***
Sunday night is the premium time to end an auction. Statistics show that this is when the maximum number of people are online and looking to buy. End your auction on a Sunday night, and your sale price is likely to be significantly higher!
Step Six: Item Location
Buyers need to know where you are as shipping costs can vary widely depending on location. Make sure that your address details are displayed correctly.
Step Seven: Photos
Photos aren't strictly necessary, but, as the saying goes 'a picture is worth a thousand words'. It's a fact that eBay listings without photos don't sell as well.
You are able to list one photo for free with your listing, or up to 12 at a cost of $0.15 each. Alternatively, you can choose to a Picture Pack, which lets your display up to 6 pictures for $1, or 7-12 pictures for $1.50.
Step Eight: Frills
And it's not over yet! eBay lets you make your item stand out from the crowd with a number of designer listing options. But these don't come for free.
Since this is your first item, I recommend that you leave it plain to maximize your profits. But if you really must add some extras, then I suggest the Gallery listing for an extra $0.35. This gets you a small picture of your item displayed in the search listings.
Finally, you can select whether you want a page counter for your listing - and this is one option that doesn't cost a thing! Page counters tell you how many times your page has been viewed: you may or may not want everyone to know how much competition they're up against.
Step Nine: Payment & Shipping Details
You need to specify your payment requirements, who will pay for shipping and destinations you're willing to serve.
No one will want to buy your gorgeous baby grand if they don't know who is paying for shipping or how far it has to be shipped.
Also decide whether you want to include shipping insurance, whether you have a returns policy, and whether you want to include any specific payment instructions.
Finish: Submit
It's important to review all the details on the page before you submit. You typed in a reserve price of $10 dollars but meant $100? Oops! And now someone's bid on it too - darn it!
To avoid horrid errors like this one, make sure you proofread before clicking on submit.
Workbook
Do some research. Search eBay for items similar to yours and check out the title, description, price and photos.
- What attracts your attention?
- Is there much price range?
- How many bidders are bidding on these similar items?
- Can you see ways to improve the listing and photos?
Helpful Links
- eBay Seller fees http://pages.ebay.com/help/sell/fees.html
- Money Order Coupons http://cgi1.ebay.com/aw-cgi/eBayISAPI.dll?PayCoupon
- Selling on eBay http://sell.ebay.com/sell
- eBay Seller Help http://pages.ebay.com/help/sell/basics.html
