ebay where to start

newlife11

hello

I wonder if any of you can help me I just need a little bit of advice.

I was made redundant a few weeks ago, I'm doing a lot of temping work but this isn't paying the bills

I'm thinking of setting up an ebay shop but am i wondering where to start I have some money i could use but i dont want to waste it buying the wrong stuff

If I search on line people are asking me to pay for information and I did and it wasn't that good

Can anyone just point me in the right direction where to start

Thanks

soolin

Finding the goods is the hardest bit. All I can suggest is you start from your own likes and hobbies, see what sells and then go and see what you can source.

Start off by selling a few of your own things as a private seller, see how it all works and also use the time to build up a little feedback before you start putting hundreds or thousands of pounds into stock.

newlife11

I've sold about 80 things over the years my feed back is 100% at about 250

think im just a little scared, worked at the same place all my life and everything now is just upside down

soolin

I have tried bulk buying and then re selling but it was never worth the effort and I alway sended up barely breaking even, or even losing money.

I now source items via real auctions and re sell.

newlife11

cheers mate

RFW

I've been buying and selling for the last 20+ years and I'm still not sure what I'm doing.
If you don't know where to start then I could be blunt and say don't start.
As Soolin says try something you know about and start in as small a way as possible. Don't expect to spend £10 and make back £1000, spending £10 and making back £20 would be one of the best case scenarios.
The easiest thing to do is to buy, the hardest is to sell. Know your product and its price and that's part of the battle.
As for sourcing, try and find what you know and source from the product. For example if you are into fishing have a look at what is easy to buy and what isn't, then find a more difficult product to find and see if you can find a manufacturer or supplier.
You need to be able to list an item that a customer will want to buy including postage that after fees (Ebay and Paypal) you will have earnt money on and be able to turn enough items over in a week to earn a living. You also need to be set up to send items quickly and well, answer messages, account for any problems that may come up (including lost or damaged parcels).
It's not impossible to do, but it is getting increasingly so.

macfly

It's always a panicky time when you are suddenly out of work. My advice is to wait and see if you can pick up work in your own line, or retrain for different work. Selling on ebay to make a living requires a big investment. It can't be done on a shoestring, or everybody would do it.

whatyadoinsucka

buy and sell what you are interested in, then its easy money.
I buy/sell CDs / vinyl (House music 1982-2006)

buy CDs at £0.10-£2 and sell from £2-£20
average selling @ £5 profit a time..

BAILEYS6904

I've been exactly the same place you are now, as of last November, but with the added complication of single mother to a 6 year old.

You dont have to have a huge investment, but an interest in whatever you look to do. Do you have any interests, or any knowledge that you could use to your advantage.

Why not start off small, sell stuff that you have in the house that you no longer want- its amazing what you may think as rubbish, some people may think as treasure lol. At least it frees up some space, and gives you a float and some knowledge in what might sell.

Do your research, see what does sell well. I do clothes, and its amazing some certain styles of cheap make clothes make more money than designer stuff!! So never take any normal 'rules' for granted until you check them out.

See what you can get for cheap that you can sell on for a profit. Do you have a factory outlet near you, or certain manufacturers? Also keep an eye on fees and hidden costs. Its fine looking at your cost and sell price on an item. Once you take into account ebay fees, paypal fees, time, petrol for posting etc, the profit margin does start slipping away.

However on a plus note, I love it!!! I dont have to worry about childcare over holidays, or be permanently in a suit and do continious pointless meetings, making other people money! I used to be in IT, so I couldnt have gone any further away from the day job, and I'm doing ok financially, and the quality of life, well, ive just spent the first Easter hols with my lad for the first time since he was born, and you just cant beat that.

Any questions, feel free to pm me xx

Hammyman

whatyadoinsucka wrote: »

buy and sell what you are interested in, then its easy money.
I buy/sell CDs / vinyl (House music 1982-2006)

buy CDs at £0.10-£2 and sell from £2-£20
average selling @ £5 profit a time..

I wish I had that kind of percentage profit margin. You're lucky to get 25% in IT.

BTW, can you PM me your Ebay ID? I've some late 80's house music I'm looking for.

PudseyDB

dont go spending money until you have a good idea what will sell. Look around your home first.........is there anything you dont want any more. Start off that way as recent good sales feedback encourages buyers to bid.