Finding a Niche on eBay

Practical_eBay_Selling

Hello Everyone,

This is my first post in this forum, so I thought I'd make about something I've been looking into.

I'm sure many of you successful sellers know that selling successfully on eBay has to do with discovering niche and becoming an expert at that particular niche. You really can't just start selling any old thing on eBay and expect it to turn into a business.

Finding a niche isn't easy, so I just wanted to pose the question:

What is a good way to research for a niche on eBay?

I use a particular software that I've been pretty successful with, but I'm sure any tips on research would help the entire community looking to be successful on eBay.

Thanks, Glad to be a part of this forum...

mummysdragon

Hi,
Welcome to MSE.

I started selling stuff that I knew a fair bit about. Something I started to collect from 1989 onwards. I was confident in what I sell because I know so much about it. I would look under Ebay completed and see what prices each one would possibily fetch. I keep my beady eye out for them in shops and car boots etc.,
From there I decided to sell other items, that I liked, mainly shabby chic stuff. Again I knew what would sell and what would be appealing. I also do craft work and spray items, making hard to find items in certain colours become available.
My advice would be trying to find a niche in the market....well I would say most things are already being sold.....remember its a world wide market out there with millions of sellers. However if you can concentrate into something you also have an interest in, will help.

"You really can't just start selling any old thing on eBay and expect it to turn into a business."
...you would be surprised!!! I know a few sellers that see something they think is ok from car boots and flog it on ebay, no problem, and they don't specialize in anything...and they make a living out of it.

It really is re sources amd where to find goods cheap enough that you can make a profit on. Often I walk around car boots and must ignore stuff that could fetch a fourtune, but because I don't know enough about that particular item, I won't buy. Maybe one day I could walk around with a lap top and keep checking ebay completed lol.

My advice Ebay completed will give you alot of answers. Good feedback is essential, honesty in your listings, and make sure you get the correct title and catergory too....oh and don't over charge on postage either.

windswept

That's sound advice, mummysdragon,
I specialise, but not just in one category, anyone who wanted to , could find me on ebay very easily;) , I'm past the point of worrying about competetition. One look at my website would tell you my categories.
I know sellers who make a fortune selling anything and everything, but I think you should find something you have real knowledge about so you can give proper advice to your customers, my main source of off-ebay sales is from people ringing for advice about our products.
It's funny but one of my best sellers was a complete fluke and sold well from the beginning, there was no-one else selling them although I didn't know that at the time we started, and I had no idea about searching completed sales/ebay pulse etc.
Another best seller has come about because of careful research, I saw only 2 others selling them and that the items sold on every listing, so I figured I would list 3 or 4 a week and it has worked, every one sells, as do the other sellers, so as long as no-one else decides to muscle in and start a price war we are all happy, I think it works so well because there is limited availability of the particular item, so no-one can get hold of hundreds-which helps.
Finding good, reliable suppliers is the key and also the hardest part.

mummysdragon

I suppose it all depends on how much money you have to invest as well.

whypayhighfees

Just remember that there is a whole lot of difference in the UK between selling your own belongings and selling goods which you have specifically bought for resale. Once you start buying for resale you MUST register as self-employed for tax purposes. Mr Tax Man is already casting his beady eye across the auction sites and is, we hear, looking at eBay in particular. He can demand access to eBay's records for all your transactions if he thinks you are an unregistered trader. So be sure that you are doing things the right way or else the consequences could be nasty.

mummysdragon

Yep make sure you keep books, and write everything down. I put car boot entrance fees, petrol everything. Better to be safe than sorry.

windswept

All that really goes without saying, unless your name is snooze control.;)

I've just sent off our first lot of tax returns, I love doing my accounts on a sunday, none of this spreadsheet nonsense - proper handwritten entries all the way, although I confess to downloading a csv file every month from ebay /paypal and my merchant account, saves a lot of paper now I'm busy!:p

Sarah-Jane_2

whypayhighfees wrote: »

Just remember that there is a whole lot of difference in the UK between selling your own belongings and selling goods which you have specifically bought for resale. Once you start buying for resale you MUST register as self-employed for tax purposes. Mr Tax Man is already casting his beady eye across the auction sites and is, we hear, looking at eBay in particular. He can demand access to eBay's records for all your transactions if he thinks you are an unregistered trader. So be sure that you are doing things the right way or else the consequences could be nasty.

Do you have to register even if it's not your main income and you're only doing it as a bit of a hobby? I do buy to re-sell but thought because I pay tax etc on my wages that was enough?

windswept

Noooo, if you buy to sell , by definition you are a trader.
You have 3 months to register as self employed or you risk a fine , and probably a bit of forensic accounting.
I'm employed as well as self employed, all profits are taxed at 22% above your personal tax limit. Me and hubby are in partnership but because he is close to the higher tax bracket, profits are split 80/20 to me.
There are plenty of legal ways to reduce your tax bill.;)

whypayhighfees

You can also go on FREE courses which are run by Mr Tax Man to teach you the ins-and-outs of registering as self employed. They teach you all the tips and tricks you'll need, including some you'll be surprised they tell you about.

Ask at your local tax office for details of courses in your area.

Sarah-Jane_2

Oh dear!! Better go register then!!