Long Time Buyer; First Time Seller;Advice please

Party_Animal

I've been buying on EBay for quite some time and I've got 100% feedback. However, I've never sold anything yet. I'm left with some spare tickets and I'd like to try and sell them on EBay. Can anyone advise the best way;
Should I set a reserve?
How long would you set the auction for?
What does it cost me to sell them?
Any other tips are very welcome
Thanks

Jonni2bad

Party_Animal wrote:

I've been buying on EBay for quite some time and I've got 100% feedback. However, I've never sold anything yet. I'm left with some spare tickets and I'd like to try and sell them on EBay. Can anyone advise the best way;
Should I set a reserve?
How long would you set the auction for?
What does it cost me to sell them?
Any other tips are very welcome
Thanks

You cannot set a reserve for less than £50, used to be whatever you wanted...

Rather than how long it should last, try to plan for ending day and time being at the weekend. Many prefer Saturday afternoon, others Sunday (on the basis that many people have an opportunity to get online at the weekend). As an average, I would suggest running an ad for 7 days.

Selling costs are split - A listing fee - which depends upon what price you START the auction at, and a Final Value Fee. Listing fees rise on a 'sliding scale'...
Start Price up to 99p - costs 15p
£1 to 4.99 costs 20p
£5 to 14.99 costs 35p
£15 to 29.99 costs 75p
£30 to 99.99 costs £1.50
and £100 upwards costs max of £2

Final Value Fees (based on the selling price) are as a percentage....
5.25% of any price up to £29.99
an additional 3.25% for anything between £30 and £599.99
and an additional 1.75% fro anything over £600

If you sell, for example, for £45, you would pay FVF costs of £2.06
( 5.25% of the first £29.99 = £1.57, PLUS 3.25% of the next £15.01 = 49p)

You take a "gamble" by listing at 99p, hoping to gain much more interest, but it could backfire and not sell at anywhere near what you know it is worth (or need to get to make profit)

Finally, for now, get some decent photos of the item you are selling. People love to see clear pics. You get the first pic for free and they would like to charge you 12p for every subsequent one, but PM me and I will let you know how to bypass that charge.

Now all you have to do is find an item that few other peole sell, buy it much cheaper than anyone else can and sell it to a genuine buyer who will bother to read your payment instructions :eek:

Don't you just love it?

chappy

I also understand there is a fee to pay if your buyers use paypal, what is the amount

Still making my mind up on the matter, is it as easy as people say and is it worth it after all the fees you have to pay

Thanks
Jayne

Party_Animal

Many thanks Jonni. Some good advice there. The items will be over £50 and I don't want to risk selling them for any less.

Jonni2bad

chappy wrote:

I also understand there is a fee to pay if your buyers use paypal, what is the amount

Still making my mind up on the matter, is it as easy as people say and is it worth it after all the fees you have to pay

Thanks
Jayne

Let me say from the off - I AM NO FRIEND OF PAYPAL :mad:

If you decide to use paypal, and - all things considered - I suggest you do!!, then might I advise NOT signing up for the Premier Account which allows you to receive Credit or Debit card payments. If you stick to the basic one, there are NO costs associated with the receipt of funds, free withdrawals when taking out £50+, and it will only cost 25p to make a withdrawal of less than £50.

Once you upgrade, you are then charged 3.4% + 20p for EVERY payment received, even if they were not made with a card. That's the bit I really don't like.

There is an alternative, which I use and have found very good, called NOCHEX. Free to sign up to, their charges are 2.8% + 20p - so I use this account to accept cards, leaving paypal for "cleared funds" only.

There are other problems with PayPal once you take cards - read some of the other threads on MSE - which are not very nice! But NOCHEX has a different policy on things like chargebacks, putting some of the power back into the seller's hands.

Party_Animal

Cheers Jonni. is there a link to the Nochex sign up?

chappy

Found this in another thread

http://www.nochex.com/

Thanks jonni

Party_Animal

thanks Chappy