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Ebaynyc2007
 

Ebaynyc2007

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Here is a presentation I did for teaching people how to buy, sell, and profit on eBay.

Here is a presentation I did for teaching people how to buy, sell, and profit on eBay.

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  • Fun facts. Use them or your own.
  • Feedback Purpose is to help Buyers and Sellers know who they’re doing business with Anyone who fails to pay has that reflected in their Feedback Safe Harbor If you suspect a problem, or see illegal activity, report it eBay will investigate the activity, and will move to rectify it Fraud Protection Up to $200 reimbursement in the case of fraud Less a $25 processing fee Square Trade A forum that allows Buyers and Sellers to mediate disputes, including live mediators if necessary PayPal Seller Protection In most places, the Seller shoulders the burden if the Buyer purchased fraudulently (stolen credit card) PayPal protects the Seller There are also protections in place for the Buyer Escrow Service 3rd party that “holds” the money while the Buyer inspects the item (useful if item is over $500) Fraud Protection Insurance $200 insurance for Buyers Credit Card Protection Most credit card companies have 100% protection Trust and Safety Hub Find it at the bottom of every page Helps users buy and sell with confidence
  • Remember choosing where your eBay fees would be charged? You might have chosen Direct Pay, and these fees are deducted directly from your checking account Or you chose to charge them to your credit card These are the fees you’ll pay (except the PayPal fee, which is charged separately) eBay will bill you once a month On the 15 th or the 30 th of the month
  • Userid and Password You must be over 18 to register on eBay You first must be registered as a Buyer If not, you can do both signups at the same time You use the same account for buying and selling, Your reputation (Feedback) as a Buyer “follows” you to selling (all feedback is in one account) Build your Feedback when you first start selling by buying things and getting good feedback If your password is simple (like your spouse’s name) or used on multiple accounts, this is a good time to change it to something more complex Account Info eBay asks for a credit card and bank account Asks for 2 financial sources as an additional way to identify users You can use a debit card instead of a credit card, as long as it has a credit card logo on it eBay charges a small fee for holding an auction (We’ll talk about the fees later) eBay automatically bills your account after each auction You get to chose which account gets billed Default is to charge your bank account You can even choose Direct Pay You may want to consider opening a separate credit care and bank account just for eBay Primarily for Sellers who are going to sell multiple items Protects you from credit /fraud--your losses would be limited to amts. In these accounts If you don’t have a credit card (or don’t want to give it) you can become ID verified This is a special eBay program to verify your identity There are other benefits to becoming ID verified It treats you as if you have a Feedback of 10, even if you’re just starting
  • eBay needs 2 numbers from your Checking Account Bank Routing Number Checking Account Number This is shown clearly on the form, so it’s easy to see what’s needed eBay requires two sources of finances This is part of the security program, to ensure that Sellers are who they say they are
  • This is the easiest way to pay and get paid on eBay Was acquired by eBay in 2002, to offer eBay Sellers a complete solution for selling their merchandise The Pay Now with PayPal button makes buying from you a snap! How many of you are already PayPal users? (show of hands)
  • You must order both the virtual debit card and the physical debit card from PayPal The physical debit card is just like your ATM card or bank debit card A virtual debit card operates the same as a physical debit card. What you get is an identification number that you can use for phone or on-line purchases. For security purposes, the numbers on these two will be different Let’s go do it!
  • Return to PayPal demo
  • What should the first Item be? In your closet, attic, a gift you got and don’t want Didn’t cost you anything or you are finished with it If it sells for a low price that’s OK You can find a box/envelope (free) to ship it in Research Search for items like yours Look in Completed Items
  • There are three main options for getting digital pictures When you get to the digital camera option, ask, “how many of you have a digital camera?”
  • There are lots of digital cameras on the market today You don’t have to get the most expensive one In fact, a sub-$200 camera will work just fine for eBay Get 1.2 mega-pixel capability Get macro capability Buy it on eBay--there are hundreds available If possible, go to a camera shop and handle a couple before you buy. Buy one that feels good. Nikon has a good one called the CoolPix 2100 Medium price camera Has features that help you take great pictures Has editing software built right into the camera All of the information about photography is summarized in your Appendix Now, let’s look at some pictures
  • This is an actual eBay picture (nick-knack) I don’t know if I’d want this thing lurking around my house at night!-) Take your pictures so that the item fills the frame At least the seller had a kind of neutral background!-) How large is this item? If it’s hard to tell how large it is, put something (a ruler, a set of car keys, a coin) beside it
  • This is an actual eBay picture (eagle wood sculpture) Just what is it we’re selling here--the table? The dinette set? Take pictures straight on (so you don’t get a perspective shot) Crop the picture to get rid of extraneous background
  • This is an actual eBay picture (antique sprinkler head) WHY did they set this in the baby’s crib to take a picture of it? The better question is, where’s the baby!-) Take pictures against neutral background--one that will make the item stand out Have a piece of neutral (light blue) fabric to back your items Otherwise, the picture is too busy, and it’s hard to focus on what’s being sold
  • This is an actual eBay picture Not a bad picture But it needed to be cropped Originally a HUGE picture Took 5 minutes to download What is that bite-looking thing at the bottom of the picture? Is that an imperfection, or just a wrinkle in the rug?
  • This is an actual eBay picture. Remember that reflective surfaces reflect! If possible, take the picture in a neutral place--like a small room with all white walls
  • Review the do’s and don’ts of the photo subject Fill the frame Avoid busy backgrounds Get close-ups of important features Camera Settings Another graphic file type is GIF (pronounced Giff with a hard G) GIF is best for line art, illustrations, etc. If in doubt, use JPG Photo Size If your camera doesn’t have an adjustment for 300 x 400 pixels, don’t worry You can easily edit the photo Use natural (outdoor) lighting if possible Alternative (indoor) use 3 halogen clip-on lights that you can position around the item Lights it properly without yellow-ish cast Eliminates shadows Eliminates flash spots
  • If your computer has USB (universal service bus?) capability, consider buying a USB camera This will be much easier and less time consuming Move your pictures to your hard disk Put them in a folder where they’re easy to find Hint: rename them (from P0002) so they’re easier to identify Make sure you include the .JPG file extension Usually automatically included on a PC when it is loaded from the camera May have to be added on a Macintosh Turn your camera off when you finish transferring the pictures It will save the camera battery
  • You don’t need high-end software You can use shareware Irfanview (PC) or RainbowPainter (Mac) are just fine for what you need to do You can find the URLs for this shareware in the Appendix However, if you have high-end software, you can use it You can also use eBay’s picture service, iPix, to do simple editing iPix won’t resize pictures. If you need to resize, use one of the other options
  • Here’s an example of a poorly-formatted description. This was a REAL description. Needless to say, it didn’t sell. The seller probably put spaces between paragraphs, and thought his description looked fine! The reason this looks like this is because the seller didn’t put in HTML commands to make it look formatted.
  • Starting Price No one can bid any less than this price The first bidder must match this price Insertion fee (base price you pay eBay to list an item)
  • You may want to give your personal philosophy of using Reserve prices When you would, when you wouldn’t Reserve price is private between you and eBay No one can determine your Reserve price, until they bid above it When the bid exceeds the Reserve, the “reserve not yet met” tag disappears Ask audience—how do you feel about bidding on items that have a Reserve (show of hands for those who do and those who do not) Point out that it may discourage bidding on your item Bidders may ask you your Reserve price They may just want to know what they have to bid to exceed the reserve Rather than trying it by trial-and-error Some sellers disclose their Reserve price in their description After all, the point is to protect you from selling too low The point isn’t to try to make the bidders guess
  • Pricing for “immediate gratification” Some people don’t want the hassle of bidding. They’re willing to pay a fair price, May be more or less than you’d get if the item is auctioned It’s an “early bird” price. It goes away once there are bidders How many of you have bought at the BIN price (show of hands)
  • Fixed Price Available to sellers with Feedback of 30 or higher Allows you to sell at a pre-determined price Allows you to sell multiple items with a single insertion fee No bidding Allows you to set one price that everyone pays Used for commodity items (commonly available items that have a “known” price
  • Return policies will improve your sales There are no right or wrong answers. You just need to be clear up front.
  • Remember choosing where your eBay fees would be charged? You might have chosen Direct Pay, and these fees are deducted directly from your checking account Or you chose to charge them to your credit card These are the fees you’ll pay (except the PayPal fee, which is charged separately) eBay will bill you once a month On the 15 th or the 30 th of the month
  • These enhancements add visibility and increase sales Do not read all of these. Pick a few to mention The Reserve Price is refunded if item sells at or above reserve price. List in Two Categories Double the insertion and listing upgrades fees (excluding Scheduled Listings and Home Page Featured).
  • Think of the Final Value Fee as eBay’s commission
  • Think of the Final Value Fee as eBay’s commission
  • The best way to monitor your auction is your personal dashboard--My eBay
  • ALTERNATIVE TO THIS SLIDE IS TO GO TO COMMUNITY PAGE AND EXPLAIN THE PAGE (only if you have time) Announcement Boards General—Check here often to find out what’s new at eBay From 1 cent promotions to upcoming features—get it here first System—When something goes wrong on eBay’s system, here’s where you find out about it Oftentimes, if you’re having problems, it’s a system issue. Check here first to find out what’s going on There are 4 different types of Discussion boards Category-based chats People who buy and/or sell the same type of merchandise you do—good source of assistance and ideas Program-based chats People who are in the same program (Charity, Trading Assistants, Tools, etc.) General assistance chats Help with basic eBay processes Non-eBay chats Discussions about other things happening in the world Answer Center Specific board Ask a particular question, get up to 10 answers from eBay users All volunteers who like to help others Check the Calendar to find out what’s happening DEMO—Go to Community Explain that this is the hub of eBay Community activity Show the Calendar of events

Ebaynyc2007 Ebaynyc2007 Presentation Transcript

  • How to Buy, Sell, and Profit on eBay By Joel Elad eBay Educational Specialist
  • First, the legal stuff…
        • These slides Copyright © 2000 eBay Inc. and © 2007 Joel Elad. All rights reserved. No part of these materials may be reproduced or transmitted in any form, by any means (electronic, photocopying, recording, or otherwise) without the prior permission of eBay Inc.
        • eBay and the eBay logo are trademarks of eBay Inc.
        • Thanks to eBay for the use of these slides.
  • Today’s Agenda
    • How eBay Works
    • The feedback system
    • eBay vs. other sales channels
    • Registering on eBay
    • How to determine market value
    • Sourcing products off and on eBay
    • Digital photography
    • Compelling descriptions
    • Best practices for listing/selling on eBay
  • Today’s Agenda
    • The Steps to Selling an item on eBay
    • Timing and organization
    • Completing the order
    • Shipping and postage online tools
    • How to get free supplies for your eBay business
    • Dealing w/consignors, vendors, and customers
    • Tools to help automate your eBay business
  • So, what is eBay?
    • The world’s biggest garage sale?
    • The best way to buy beanie babies?
    • That place where a guy tried to sell his kidney?
    • NO! It’s simply the world’s largest trading platform where people can buy and sell from each other directly.
  • eBay Statistics as of 09/30/07
    • 244 Million registered users
    • 50,000+ categories
    • Presence in 37 International markets
    • 610 Million listings in 1 quarter
    • 1.3 million full & part-time eBay sellers
    • $1,840 Gross Merchandise Value is sold every SECOND
  • Most Popular Categories (annual sales for 2006)
    • eBay Motors $15.7 billion
    • Consumer Electronics $5.8 billion
    • Clothing & Apparel $4.7 billion
    • Computers $3.9 billion
    • Home & Garden $3.4 billion
    • Books/Movie/Music $2.8 billion
    • Collectibles $2.8 billion
    • Sports $2.6 billion
    • Toys $2.5 billion
    • Jewelry & Watches $2.1 billion
    • Business & Industrial $2.0 billion
    • Camera & Photo $1.6 billion
  • Today on eBay…
    • 103 million items available worldwide
    • 6.1 million items added every day
    • A digital camera sells every minute
    • A forklift sells every 4 hours
    • Most expensive Item sold = Gulfstream II business jet — $4.9M in August, 2001
  • So, how does it work?
    • A seller will list something on eBay that they want to sell.
    • Buyers will come through, look at the item for sale, and decide whether or not to bid.
    • At the end of the auction, the highest bidder “wins” the item, & gets an e-mail w/details.
    • The buyer pays the seller directly and the seller will then mail the buyer the item.
    • When it’s done, they leave feedback on their experience for the other party.
  • Features that help keep eBay safe
    • Feedback – Your eBay reputation
    • Buyer Protection Program – Up to $2,000 (on qualified items with PayPal)
    • PayPal Seller Protection – Against fraudulent charge-backs
    • SquareTrade – Third party dispute resolution
    • Security Center – www.ebay.com/securitycenter (link on bottom of all eBay pages)
  • Beware of e-mails from eBay
    • You will most likely get e-mails that look like they’re from eBay or PayPal.
    • They’ll want you to click a link to enter in your private information, because they claim your account is suspended or something’s wrong. They’re “phishing” for information.
    • NEVER ACT ON THESE E-MAILS! LOG INTO EBAY DIRECTLY TO SEE WHAT’S GOING ON!
  • Feedback - what is it?
    • You get one positive point on your record for every positive transaction you complete. (one negative pt. if it went bad)
    • This system allows you to instantly check the "reputation" or business practices of anyone at eBay.
    • eBay awards Stars to our members when they achieve a certain number of unique positive Feedback comments from other members:
      • A “Yellow Star” ( ) Feedback Profile of 10-99.
      • A “Turquoise Star” ( ) Feedback Profile of 100-499
      • A “Purple Star” ( ) Feedback Profile of 500-999.
      • A “Red Star” ( ) Feedback Profile of 1,000-9,999.
      • A “Shooting Star” ( ) Feedback Profile of 10,000 or higher.
  • Feedback = Seller Reputation Feedback = Reputation Too many negative feedbacks = trouble Look at DATES of feedback Read the actual feedback comments (are they Excited? Brief? Professional?)
  • More Feedback information…
    • You can only earn 1 point from each buyer/seller, regardless of the # of the transactions you deal with them.
    • Their actual feedbacks go on your record, just not your point total.
    • If your buyer doesn’t pay or the seller doesn’t ship (& you report them), they can’t leave negative feedback against you.
    • Try to earn at least 10 feedback points before selling anything of value or starting a serious business of selling on eBay.
  • Why use eBay instead of other channels?
  • Consider the SIZE of their audience
    • eBay – 244 million users
    • Yahoo Shopping – 50-60 million users
    • Amazon – 57 million users
    • Overstock.com – 18-20 million users
    • Your own site… you have to attract those users yourself
  • Lower transaction costs
    • Normal auction houses charge 25-30% for consigning your items
    • Existing dealers will pay pennies on the dollar for your stuff, because they need to make money on the resale
    • eBay works out to 5-9% on average …
  • How does eBay make their money?
    • eBay collects four kinds of fees for listing and selling on their site:
    • Insertion Fees – To list an item ($0.20-$4.80/item)
    • Listing Upgrade Fees – For special features to promote your listing (ranges from a nickel to $40 for each feature)
    • Final Value Fees – Commission based on final price (starts at 5.25% of sale price, goes down to 1.50%)
    • PayPal Fees – Charges for collecting payment through PayPal ($0.30 plus 2.9% of the payment amount sent)
    • We’ll discuss exact amounts later in the seminar.
  • eBay’s marketing muscle
    • One of the most recognized brands related to Internet… in 12 short years!
    • eBay spends MILLIONS to put ads on all the major search engines like Yahoo
    • TV ad campaigns twice a year (eBay – Shop Victoriously!)
    • They’re recruiting members AROUND THE WORLD!
  • eBay – “A level playing field”
    • Everyone is treated equal on eBay, no special favors for large corporations
    • Anyone can build a great reputation, customer following, and establish their own business…
    • With no rent, insurance, or major capital investment
  • Ok, I’m convinced…. How do I get started on eBay?
  • Your one-stop shop http://annex.joelelad.com/
  • Register on eBay
    • Go to annex.joelelad.com /
    • Click the Click here button .
    • Create a user ID and password.
    • Enter information.
    • Check email for confirmation.
  • How to Become an eBay Seller
    • Sign into My eBay.
    • Click Personal Information under My Account.
    • Click Edit next to Financial information.
    • Sign in if necessary.
  • Create Seller’s Account
    • Click on the Create Seller’s Account link. Then click the Create Seller’s Account button on the following page.
    • Enter your credit or debit card information .
  • Verifying Your Identity 7. Enter bank account information. Enter data: Bank routing number Checking account number
  • What Is PayPal?
    • Easiest, fastest online payment service
      • Requires an email address, credit card, and bank account
    • Secure, trusted
      • “ Most trusted” Online Payment Service (Gartner Group, 2/02)
      • 150+ million members (American Express only has 65 million)
      • 90% of eBay listings provide PayPal
    • Part of the eBay team
      • Integrates seamlessly into eBay listings
      • Buyer simply clicks the button
  • How Do You Get Your Money from PayPal?
    • Use your PayPal balance to:
      • Pay for other online transactions
      • Pay for merchandise with PayPal Debit Card
      • ATM withdrawal with PayPal Debit Card
      • Request paper check (1 – 2 weeks)
    • Transfer funds to another account
      • Request Electronic Fund Transfer to bank account (3 – 4 business days)
  • Welcome to PayPal annex.joelelad.com / Step 2 (Register for PayPal)
  • Confirm Your Email Address
  • Your next step: Research! How do I find out what stuff is worth?
  • Researching Prices
    • One of the *critical* aspects to a successful run on eBay is knowing how to research prices and using that information wisely
    • eBay has a powerful search engine that allows you to scan completed auctions and study the results
  • What key information do I need?
    • What is it worth?
    • How many are out there now?
    • Who’s selling the majority of them?
    • What are they selling for on eBay?
    • What’s the avg closing price?
    • What was the HIGHEST closing price?
    • BEWARE AUCTION FEVER – IT EXISTS!
  • Completed Listings Search
    • Click Advanced Search .
    • Enter keywords.
    • Check Completed Listings Only .
    • Click Search button.
  • Four Tricks for Searching Smarter
    • 1. Use the – sign to exclude words
      • iPod -nano finds listings with iPod and not nano
      • Treo -700 finds listings with Treo that don’t have 700 in title
    • 2. Use the * sign as a “wild card”
      • HP 35* finds all the HP 35, 350, & 3500 series products, for example.
    • 3. Use the ( word1 , word2 ) as the OR command
    • (WWII,”World War II”) finds listings with either WWII or ”World War II”
    • 4. Use “ “ to search for an exact phrase
      • “ The Cars” finds The Cars Greatest Hits , but not Book: Cars of the 1950s
  • 1960 Mickey Mantle & Ken Boyer Topps Rival #160 card
  • What did we learn from the Mickey Mantle card search?
    • 10 of them listed recently, 7 sold (70%)
    • Successful bid range: $5.50-$47.80
    • Realistic bid range: $19.99-$34.00
    • High price: $47.80
    • Low price: $5.50 (it’s in Fair condition)
    • Two auctions, $100 and $60, got NO bids
    • Only 3 of the 10 used Gallery, 0 used Bold
    • Most people charge about $2 for shipping
    • Popular keywords: 1960 Mickey Mantle Boyer card #160 Topps Rival
  • Where can I get stuff?
  • It’s all around you…
    • Great place to start: storage/attic
    • Friends and family – clean out their closets? Sell your aunt’s hat collection?
    • Estate sales, local auctions
    • Local manufacturers / distributors
    • Closeout stores (Big Lots, TJ Maxx, etc) Hey… what about buying on eBay?
  • eBay is the place to buy…
    • Wholesale lots in many categories
    • Big collections up for sale
    • Everyday items like razors, batteries, clothes, kitchen utensils, etc.
    • Need a new cel phone? VCR? Pair of shoes? Lawn mower? (etc. etc.)
    • Use eBay’s search engine to see if it’s up for sale!
  • I see something I want to buy, now what?
    • Read the description
    • Research the value and availability
    • Check the seller’s feedback
    • Ask the seller questions
    • Think of the true maximum to spend
    • Place your bid! (or wait ‘til the end)
  • Read the Description
    • Condition of item
    • If it doesn’t EXPLICITLY
    • state the condition, BEWARE
    • Additional items?
    • If you’re expecting something
    • else to come with it, be sure
    • it’s mentioned in the listing.
    • Terms of sale – Are the payment options acceptable? Who pays shipping? Are they willing to offer financing through PayPal Buyer Credit?
  • Don’t forget - Learn what it’s worth!
    • Do your research! Don’t just snap up the 1 st lot you see
    • Search current auctions – is the same item going for less elsewhere?
    • Search completed auctions (closing prices are the most accurate)
    • Tip: Most auctions get their highest bids in the last 24 hours of the auction. If a current price is lower than average, chances are it’ll get bid up.
  • I’m Ready to Bid, How does it work? How much do you want to pay? Remember, if you’re paying more overall, with shipping and any other costs, consider if eBay is worth the convenience!
  • Proxy bid and what is it?
    • Decide the maximum you're willing to pay and enter this amount.
    • eBay will now confidentially bid up to your maximum amount. In this way, you don't have to keep an eye on your auction as it unfolds.
    • If other bidders outbid your maximum at the end of the auction, you don't get the item. But otherwise, you're the winner--and the final price might even be less than the maximum you had been willing to spend!
    • Remember: eBay will use only as much of your maximum bid as is necessary to maintain your position as high bidder. Winning was never easier!
  • Proxy bid example
    • Current auction – starting price of $1.00, you bid $9.99. eBay will bid $1.00 for you.
    • Someone else comes along and bids $2.25.
    • eBay will then use Proxy Bidding to figure out the highest bid:
    • You: $1, Them: $1.25; You $1.50; Them $1.75, You $2.00, Them $2.25, You $2.50.
    • After that person bid, the new “high bidder” price is $2.50, you are the high bidder.
  • Proxy bid example - continued
    • If you bid $9.99, and someone else bids $9.99 on an auction, the new “high bidder” price will be YOU at $9.99 because you bid first.
    • IMPORTANT NOTE: If you bid $X on an item, and the new price is $X, that means that $X is the HIGHEST the other bidder has bid. No one else will know this except you until the auction is over. Why is this important?
  • Any Questions?
    • Signing up with eBay/PayPal
    • Researching on eBay
    • Finding products to sell on eBay
    • Buying on eBay
  • FIVE MINUTE BREAK
    • Please return on time
    • Books are available for $20 each
    • I’m available for questions
  • We’ve talked about buying, now let’s talk about selling!
    • Four important sections
      • Picture
      • Description
      • Overall listing strategies
      • Timing and organization
  • Selling on eBay, part 1 Getting the right photo
  • If you remember NOTHING ELSE…
    • To improve the chance your item will sell:
    • PUT A PICTURE IN YOUR AUCTION!!
    • Note: The picture doesn’t *HAVE* to be the actual item, just something that looks like it! (Manufacturer’s site, retail site, drawing) Just note that in the description.
  • Creating Digital Pictures
    • Three Options
    • Traditional film camera
      • Shoot photos with film camera
      • Bring film to developer
    • Flatbed scanner
      • Perfect for flat items
      • Scan prints
    • Digital camera
      • Best all around solution
  • What to Look for in a Digital Camera
    • Buy a brand name (Canon, Kodak, Olympus, HP, Sony, Nikon, HP, Casio, Polaroid)
    • Important features
      • 2.0 megapixels or better
      • Macro (ability to focus 1 inch from surface)
      • Manual flash off
    • Find one on eBay!
  • You may ask, *WHY* is the picture so important?
    • HERE’S WHY!
  • What Is It?
  • Harmless Knickknack?
  • What’s for Sale?
  • The Problem with Flash
  • Honey, I Turned the Kid into a Lawn Sprinkler
  • Park the Rug
  • No Reflection on You!
  • Dark Glasses
  • Taking Your Pictures
    • Camera settings
      • Set camera to .jpg format and high resolution
      • No zoom (move camera closer to item)
      • Use a tripod (buy one on eBay!)
    • Background
      • Use backdrop
      • Frame item in camera viewfinder
    • Lighting
      • Natural light (if possible)
      • Add diffused artificial light (if necessary)
      • Never use flash!
    A tripod helps you take sharp, focused photos.
  • Transfer Photo Files
    • Digital camera file storage
      • Compact flash card
      • SD card
      • Memory Stick (Sony)
      • CD-ROM (Sony Mavica)
    • Transfer photo files to computer
      • Insert card into:
        • Computer slot
        • Card reader attached to computer
      • Direct cable connection (USB or Firewire)
      • Copy files from camera to computer
      • When in doubt, RTM ! ( R ead T he M anual)
    Memory media Card reader USB cable
  • Editing Your Photo Files
    • Use graphic editing software
      • Program that comes w/camera
      • Picasa (from Google) www.picasa.com
      • Purchased software
      • eBay Picture Services
    • Four basic editing steps
      • Crop
      • Rotate
      • Resize
      • Save As
  • Taking a Professional Photo
    • Problems…
    • Background visible
    • Inadequate light
    • Add…
    • Backdrop
    • More light
    First try…not good Better
  • The Perfect Shot!
    • Taking the photo
      • Items well lit with natural light
      • Camera focused
      • Items isolated with white paper
      • Camera stabilized with tripod
      • Items arranged to best aspect
    • Editing the photo
      • Cropped tight to items
      • Resized to 600 x 800 (or less)
    • Professional photos for no $$$
    BEST!
  • Selling on eBay, part 2 Write a compelling description
  • Writing a descriptive title
    • Your title is your most valuable “real estate” for your auction
    • Use all 55 characters whenever possible
    • Include as many ‘keywords’ as you can
    • CHECK YOUR SPELLING!
    • Most buyers will only search by title, this is why it’s so important!
  • Good title vs. bad title…
    • Bad Title: Old watch for sale
    • Good Title: 1992 Tag Heuer Designer Waterproof Watch Mint in Box
    • Bad title: L@@K AT THIS AMAZING BEAUTIFUL SHIRT!
    • Good title: NEW Tommy Bahama Men’s Paradise Camp Hawaiian shirt XL
    • Always think of extra keywords to hit that 55 character limit! (Glossary of key terms and acronyms)
    • http://pages.ebay.com/help/newtoebay/acronyms.html
  • Write a Good Description
    • Copy and paste text into the Standard pane.
    • Use HTML Editor tools to format:
      • Bold
      • Underline
      • Font color
      • Font size
      • Alignment
      • Bulleted lists
      • Insert a link to other listings
  • A Poorly Formatted Description (from an actual auction)
  • Same Description, with Formatting… See the difference?
  • Selling on eBay, part 3 Best overall sales practices
  • Time is Money
    • Make a list of what you’d like to sell, make sure you have all the critical info before you start to list items.
    • Group all your listing activities together so you’re not running back & forth (all your pictures at once, descriptions at once, etc.)
    • Create a common “template” if you plan to sell multiple items (same look & feel)
    • Keep track of the time you spend on a listing, then use that when deciding what to buy or list on eBay
    • Create your listings off line (at home, not connected to Internet, or not near a computer), then “Cut and Paste” or Type into the selling form.
  • How do you price your item?
  • Starting Bid – What Is It?
    • Mandatory
    • Set as low as $0.01
      • Low starting bids tend to encourage first bids or…
    • Set as high as needed but…
      • High starting bids tend to discourage bidding
    • Insertion fee determined by starting bid
  • Reserve Price – What Is It?
    • Optional
    • Hidden
    • Your minimum selling price
    • Encourages bidding by keeping starting bid low
    • Incurs a fee (fully refunded if reserve is met)
    $50.00)
  • Buy It Now (or the price I’ll take to stop everything)
    • Your minimum “sell it now” price
    • Optional
    • Helps encourage quick purchase
    • Disappears once a bid is placed (or reserve is met)
  • Fixed Price – What Is It?
    • Not an auction
    • Sell at a set price
    • Best suited for multiples of commodity items
    • Fixed Price presented as BIN to buyers
    • Seller must have 30+ feedback or ID Verify
  • Let’s sell an item!
  • Sell Your Item Form (SYI)
    • Click the Sell link.
    • Type in what you want to sell.
    • Click Sell It .
  • Pick your Category (Research should help)
    • Once you type in your item, eBay will suggest various categories.
    • Pick the most appropriate category.
  • You can also “Browse for Categories”
  • Provide your Title and Pictures
  • Tell eBay where your pictures are on your computer
  • You can edit your pictures using eBay’s Picture Services
  • Let’s talk about your item!
  • Put in your Pricing & Timing Info here
  • Choose your Payment Methods
    • Enter your PayPal email address in the box provided
    • Check off your other accepted payment types
    • Cash okay for pickups or deliveries only!
    • Never ask for payment through Western Union or a MoneyGram
  • Select your Shipping Options
  • eBay Shipping Calculator
    • Select weight and size, input the dimensions
    • Select up to 6 shipping options (3 each domestic & int’l)
    • Indicate shipping insurance, packaging and handling fees
  • Lastly… Setting your Return Policy and Checkout Instructions
    • Check Returns Accepted
    • Select duration
    • Select refund type
    • Enter detailed policy
    • Enter payment details
    • Acceptable reasons?
      • Item not as described
      • Doesn’t fit, doesn’t work, just not happy, etc.
    • Who pays return shipping?
  • Page 2 – Review and Promote your Listing
  • What Listing Upgrades exist? Weigh price vs. benefit
    • Enhance your listings
      • Pictures
      • Gallery (recommended)
      • Boldface
      • Highlighted item
      • Featured Plus
      • Home Page Featured
    • After you pick upgrades, SUBMIT!
  • Most important things to consider
    • Pick the right category for your item
    • Keywords & good titles (55 char max)
    • Comprehensive descriptions
    • Organized descriptions
    • Pictures ARE CRUCIAL!!!!
    • Pick a good starting price
    • Time your auction appropriately
  • Selling on eBay, part 4 Timing and organization
  • When should I list my item?
    • Your starting time is the exact minute you click “Submit” to list your item on eBay. (even if it’s 4 am)
    • Your starting time and ending time are the same, you pick the # of days (1, 3, 5, 7, or 10 days)
    • Pick your ending time when your bidders are at the computer:
      • Collectibles/Home items – Sundays are the best (or Monday)
      • Office-related: Workdays before 5 pm
    • See when other people are ending their auctions!
    • eBay will let you schedule your auction for only 10 cents per listing!
    • All times on eBay are quoted as Pacific Time – think about the “3 hour window” for the U.S. !
  • Sell a Similar Item
    • Once you’ve sold your first item, you’ll be presented with a Sell a Similar Item button.
    • This allows you to create a new listing with all the information you just entered.
    • If you’re selling similar items, just change a few details, replace the picture, and you’re done! A 2 nd listing in no time!
    • Even if your items are different, this feature will allow you to re-use your template.
  • Extra Tips for Sellers (Joel’s Top 7 list)
    • Besides lots of pictures, a keyword-filled title, an excellent description, what else can you do?
    • Research your item – check other eBay auctions for your item. It’ll help you think of what to include in the description, what price to set your auction and how to STAND OUT in the crowd
    • Don’t be afraid to tell people what they would pay at retail for the same item you’re selling! (No direct links, though)
    • Put links to completed eBay auctions for your item to show your bidders how high others have gone!
    • Be enthusiastic – remember, you’re trying to make a sale! Tell a story about the item – history, usefulness, bargain, value!
    • Timing can be crucial – list in late afternoon/early evening
    • Stock up on similar items so your descriptions will be similar.
    • Increase your feedback rating – Think about selling some cheap items to increase your number of deals and feedback results.
  • You’re ready, now you ask... How much is eBay?
  • Seller Fees Overview
    • Remember, there are four basic fees for listing and selling on eBay:
    • Insertion Fees – To list an item
    • Listing Upgrade Fees – For special features to promote your listing
    • Final Value Fees – Commission based on final price
    • PayPal Fees – Charges for collecting payment through PayPal
  • 1. The Insertion Fee
    • Insertion fees apply to:
      • Auction listings
      • Fixed price listings
      • Multiple item auctions (Dutch)
    • Amount based on starting or reserve price (whichever is greater)
    • Non-refundable
    $4.80 $500.00 and up $3.60 $200.00 - $499.99 $2.40 $50.00 - $199.99 $1.20 $25.00 - $49.99 $0.60 $10.00 - $24.99 $0.40 $1.00 - $9.99 $0.20 $0.01 - $.99 Insertion Fee Starting Price/Reserve
  • 2. Listing Enhancements Fees Places a copy of title in high traffic “Featured” section $39.95 Home Page Featured Places a copy of title in high-visibility locations $19.95 Gallery Featured & Featured Plus! Surrounds description with attractive themed layouts $0.10 Listing Designer Allows you to set a future start time $0.10 Schedule Listing Places a color band behind your item title $5.00 Highlight Shows how often your item has been viewed FREE Andale Counter Listing title appears in bold $1.00 Bold Sets a “Fixed Price” for outright purchase ($0.05-0.20) Varies Buy It Now Allows you to set a “don’t sell unless” price Varies Reserve Price Inserts gift icon next to your title $0.25 Show as Gift Adds thumbnail photo next to title $0.35 Gallery Up to six (nine in Motors) $0.15 Additional Photos With eBay Picture Services FREE 1 st Photo
  • 3. Final Value Fees
    • Final value fees are based on the highest ending price for your item.
    • No final value fee is charged if the reserve is not met or the item receives no bids.
    remainder 1.50% of anything over $1,000 + + + $31.69 $1.31 $0 – any price Up to $31.69 $1.31 $0 – $1,000 Up to $1.31 $0 – $25 3.25% of $25.01 to $1,000 5.25% of first $25
  • Examples of Final Value Fees $40.50 = $7.50 + $31.69 + $1.31 $1500.00 = = 1.50% of anything over $1,000 $2.94 $1.05 Total + $1.63 $1.31 $75.00 $1.05 $20.00 3.25% of $25.01 to $1,000 5.25% of first $25
  • 4. PayPal Fees
    • Personal account is free
      • Send payments with credit card, bank account, or PayPal balance
      • Accept payments from bank account or PayPal balance only
    • Premier accounts
      • Accept payments from credit card, bank account, or PayPal balance
      • All received payments pay a 2.9% transaction value + .30
    • International processing fee
      • 1% extra for receipt of payments from another country
      • Waived for Canadian sellers receiving funds from US buyers
    • Check processing fee
      • $1.50 for snail mailed physical check
  • Examples of Auction Listing Costs
    • Auction 1: Two tickets to a hot new musical in town No reserve, start the auction @ $120
    • Insertion Fee $2.40
    • Gallery $0.35
    • Suppose the tickets sold for $150
    • Final Value Fee $5.38
    • Total Cost $8.13 (5.4%)
    • Total Cost with PayPal $12.78 (8.5%)
    • If the tickets didn’t sell, the only cost is the Insertion Fee. (If you relist the tickets and they sell the 2 nd time, your 2 nd listing fee is refunded)
  • Examples of Auction Listing Costs
    • Auction 2: Apple iPod MINT in box Start the auction @ $.99, Reserve @ $199.99
    • Insertion Fee $2.40 (b/c of reserve)
    • Reserve Use Fee $2.00
    • Gallery $0.35
    • Suppose the iPod sold for $250
    • Final Value Fee $8.63 (1.31 + .0325*225)
    • Reserve Rebate -$2.00
    • Total Cost $11.38 (4.6%)
    • Total Cost w/PayPal $18.93 (7.6%)
    • Suppose the high bid only hit $199.98
    • Total Cost $4.75, seller not obligated to sell the iPod.
  • I’ve sold something, what now?
  • Talk to your Buyer…
    • eBay will allow you to send an invoice to your buyer (great for multiple items)
    • You can send your own e-mails to the buyer as well (keep them as customers)
    • You’ll find out the buyer’s zip code so you can compute shipping
    • Allow some time for a response…
  • Pack up your items
    • Carefully pack your fragile and expensive items (if you insure these items, you won’t get the insurance money if there’s not enough packing material)
    • Be ready to ship once the payment clears.
    • Be sure their address matches what the payment information says about them.
    • Make sure it’s well-sealed and can handle some punishment.
  • Shipping out your items
    • ALWAYS get some sort of tracking number, whenever possible.
    • For expensive or rare items, make the buyer sign for the item
    • Insured items require a signature!
    • Use the online tools provided by the Post Office, UPS, FedEx, etc.
    • Have UPS, FedEx, even the Post Office come out to you to pick up your packages
  • Leave Feedback
    • Feedback is important!
      • Building blocks of every eBay member’s reputation
      • Buyers want and expect positive feedback
    • Who goes first? It’s not official but…
      • Sellers usually leave feedback when they receive payment
      • Buyers usually leave feedback when they receive the item
    • Dispute? Try to work it out first!
      • Try to give buyers the benefit of the doubt
      • Exhaust all options before leaving negative feedback
  • Shipping and postal tools online
  • The eBay Shipping Center
    • How to:
      • eBay Shipping Calculator
      • Print shipping labels
      • Track packages
      • Find other shipping resources
    http://www.ebay.com/shipping/
  • Print Postage w/PayPal…
    • If you get paid via PayPal, you can print shipping labels directly from PayPal.
    • Good for US Postal Service or UPS
    • Postage money deducted from account
    • With this label, just give to your postal carrier or drop off at the post office.
    • NO WAITING IN LINE!
  • Other postal solutions…
    • Click ‘n Ship – US Postal Service
    • Stamps.com – Monthly account
    • Endicia – Print any int’l postage
    • FedEx Ground – get an account
    • www.uship.com – Heavy items
  • Hook me up with some free supplies
  • USPS gives you free stuff
    • Go to http://ebaysupplies.usps.com to get free eBay-branded boxes.
    • Go to http://shop.usps.com to get:
      • Free Priority/Express mail envelopes
      • Free forms/labels
      • Free pouches
      • Free stickers (air mail, Priority mail)
      • Free poster tubes
  • Dealing with consignors, vendors, & customers
  • eBay Trading Assistants
    • eBay has established a program where experienced eBay sellers can help sell other people’s stuff
    • Go to http://www.ebay.com/ta to find one in your area
    • Review their terms, interview a few
    • As you get more experienced, you can make money being a Trading Assistant for others!
  • Overall tips for communicating with partners & customers
    • Partners/Vendors: They can’t make money if you don’t make money. Negotiate.
    • Customers: Honesty is the best policy. Be upfront, courteous, and thorough.
    • Allow time for responses, but follow up after a few days.
    • Keep the “paper trail” of communications, in case you need evidence of what was said.
  • Tools to help automate your eBay business
  • Tools to help you with eBay
    • Search functions (current/completed)
    • My eBay – central location
    • eBay’s Seller Central http:// pages.ebay.com/sellercentral /
    • Online Appraisal – Eppraisals.com and www.wiw2u.com (promo code 976646)
    • Joel’s Resource page: annex.joelelad.com /
  • My eBay
    • Your personal “dashboard” for storing and monitoring:
      • Items for sale and items sold
      • Bids and purchases
      • Favorite searches, categories, and sellers
      • Accounts
      • Feedback (received and obligations)
      • Personal information and preferences
  • My eBay Views
    • Two important seller views:
      • All Selling
      • My Account
  • My eBay: All Selling Items I’m Selling
    • All Selling Features:
      • View items for sale
      • Check sold items
      • Manage scheduled items
      • Check number of item “Watchers”
      • Customize view
  • My eBay: All Selling: Items I’ve Sold
    • Send Invoice
    • View Payment Status
    • Second Chance Offer
    • Leave Feedback
  • My eBay: My Account: Personal Information
    • Change:
      • User ID
      • Password
      • Email address
      • About me
      • Addresses
      • Checking
      • Credit card
  • My eBay: My Account: eBay Preferences
    • Change:
    • Email notifications from eBay
    • Sign in preferences
    • Seller preferences
    • Note: Buyer requirements!
  • The eBay Community
    • Announcement Boards
      • General promotions, announcements, features, and system updates
    • Community Chat
      • Discussion forums on any topic for all eBay members
    • Workshops and Town Hall Meetings
      • Live discussion of eBay topics hosted by eBay members and senior staff employees
    • eBay Groups
      • Member initiated groups
      • Create a group for today’s seminar!
  • Need more help? eBay is there!
    • Click the Help link.
    • Enter your question.
    • Click an appropriate topic link.
    • or
    • Click Contact Us to email Customer Support.
  • Live Help on eBay home page
    • Click Live Help on eBay home page
    • Follow instructions
    • Real-time chat with eBay Customer Support rep
  • Terms You Might Hear - Definitions
    • Spam – people see you bid on a Furby, they e-mail you asking if you want one.
    • Shill Bidding – the seller gets a friend to bid on his/her item to raise the price.
    • Sniping – bidder waits until the last minute, then places a bid just above your high bid, you don’t get notified in time.
    • About Me – a personal page you design on eBay’s site to describe yourself.
  • Conclusion
    • We’ve talked about the power & potential of eBay for buying and selling.
    • Do lots of research before you sell!
    • Consider eBay to buy products for resale.
    • Organize your listings and use photos!
    • Think about your pricing strategies.
    • Learn from your initial sales and grow your business.
    • Remember: Your buyers will be the ultimate guide!
  • Shameless Plugs
    • My first 2 books, eBay Your Business and How to Sell Anything on Amazon.com, are available for $20 ea ! (Also for sale - eBay for Dummies)
    • My newest book, Starting an Online Business All-in-One Desk Reference for Dummies, is available for $25 ea ! (800+ pgs, $29.99 retail!)
  • Where to get Additional Information
    • eBay’s Help Pages ( http://pages.ebay.com/help/index.html )
    • eBay’s Chat Boards ( http://pages.ebay.com/community/chat/index.html )
    • eBay University ( http://www.ebay.com/university )
    • Online Payment: PayPal ( www.paypal.com )
    • E-mail me ( [email_address] ) for tips or advice.
    • eBay Your Business or eBay for Dummies (available in the back of the room)
    • THANKS FOR COMING!!!