30k from ebay in 2 years, my project.

slade5x5

Hi everyone,

I have decided that i am going to try and make 30k from ebay in the next two years. A crazy proposition i know but a previous thread has inspired me to give it a go and see if it is possible.
I am starting out by just selling things from my house to raise some funds and then look at purchasing things to sell on ebay aswell.
I will keep this thread going as an up to date diary of how things are going so that people who are interested in seeing if it can be done can follow my progress as well.
Well i am going to hav e agood root around the house and see what i can find to start of with.

Well wish me luck and i will let you all know how i am doing....

soolin

I wish you luck, do keep us up to date with your endeavours.

Just to be practical remember that when you start buying to sell you will need to make a full declaration to the Inland Revenue as tax will be payable. Obviously if you start by selling your personal items this doesn't need to be declared.

Soo

Sugar_Coated_Owl

Good luck

slade5x5

Thanks soolin

Once i have sold my personal items i shall start to keep records of all sales and purchases for the IR

clairehas

slade5x5 wrote:

Hi everyone,

I have decided that i am going to try and make 30k from ebay in the next two years. A crazy proposition i know but a previous thread has inspired me to give it a go and see if it is possible.
I am starting out by just selling things from my house to raise some funds and then look at purchasing things to sell on ebay aswell.
I will keep this thread going as an up to date diary of how things are going so that people who are interested in seeing if it can be done can follow my progress as well.
Well i am going to hav e agood root around the house and see what i can find to start of with.

Well wish me luck and i will let you all know how i am doing....

he he

youve had exactly the same idea as me!!

ive just been havin a clear out and so far i have a made a whopping £20 (and yeah this is the profit)! lol

this time next year i hope to driving around in my mercedes and a lady of lesiure ( yeah right, i wish) :rolleyes:

keep us posted!!

angelcake

good luck

soolin

slade5x5 wrote:

Thanks soolin

Once i have sold my personal items i shall start to keep records of all sales and purchases for the IR

Yep plus *all* your expenses. Keep postal receipts showing how much you spend there, keep receipts when you buy jiffy bgs or wrapping, parcel tape, labels..etc.

Ebay fees and paypal charges are also an allowable expense, so keep notes of all them. If you do accounts in bulk, and not a per item profit, then your listing fees for unsold items can also be an expense even though you don't actually sell anything.

As I said though, all this is just for when you buy to sell, your own personal items don't attract tax.

Soo

bleugh

30k = 15k a year = profit in excess of 1k per month

now, a turnover of 1k a month is fairly easy to achieve whilst working a full time normal job (i've been a power seller twice now!!)

a profit of 1k a month will be somewhat more difficult, though I do wish you the best of luck

my advice, local supermarkets and industrial estates are fantastic sources of packaging materials, my local asda is particularly good for boxes, you can get 1000's the same size, with bits of packing in for free, great for ebaying 1000's of identical ebay items!

PLEASE though don't fall foul of these ghastly new RM prices at the end of august

soolin

Well reminded bleugh. Even basic powersellers, the very lowest level need turnover of £750 per month..so the baseline figure is achievable but the profit element a lot harder of course.

Soo

katchambers

Good luck slade!

How very inspiring your story will be for the rest of us - I shall read this thread with excitement so please keep us informed of your progress.

It will not be easy but it is totally do-able - go for it!! :T

Kat x

angelcake

I would be happy to make £30 a month!! sad innit!!!