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Old 10-08-2008, 07:04 AM
 
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I keep hearing about people making lots of money on ebay, but where do the people get the items they sell. I see lots of people sell lots of clothes, new and used, but where do they get the clothes to sell?
also, do you have to pay taxes on money made on ebay? must it be claimed as income, or how does that work?
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Old 10-08-2008, 07:08 AM
 
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you certainly do not make money on ebay stock! ebay has a lot of people selling their own personal assets. i would doubt that for most people it would be more than a source of extra income.
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Old 10-08-2008, 07:15 AM
 
Location: Backwoods of Maine
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You're a bit late to the party.

I started on eBay in 1999. Made decent money selling unwanted items around the house, many of them new. You really need to be professional about it all, keep your feedback rating at 100%, get good at packaging and taking good photos, and most of all, discipline yourself to get to the PO the day after you get paid, to mail that stuff off quickly.

It's the equivalent of the old days' putting ads in the paper to sell stuff, but on the internet. The idea caught on, and eBay came into being. Its heyday was 2000 - 2007. The best time of year is now, just before the holidays. It's dead all summer.

Like everything good, the IRS got interested in it. Now they do track your sales, and if you sell over a certain amount (not sure what it is), it will be reported to the IRS.

At any rate, eBay is no longer what it was. People don't have the discretionary income any more.
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Old 10-08-2008, 08:24 AM
 
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I have never sold anything on it. But many people have and done ok although I do not think anyone is going to get rich.

Seems to me you really need to be organized- have packaging options, have the item ready to go, pack it well, good communication, good descriptions, etc.

As for what people sell, I have seen everything. I belong to a vintage audio club and if any of us needs an old stereo manual, we go to the same guy on eBay. He is not the only one there, but the consensus says he is the best.

eBay is probably a good place to sell items from your hobby or interests. Things that pertain to stuff that you are really educated about.
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Old 10-08-2008, 09:02 AM
 
Location: Columbia, SC
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Quote:
Originally Posted by Nor'Eastah View Post

It's the equivalent of the old days' putting ads in the paper to sell stuff, but on the internet. The idea caught on, and eBay came into being. Its heyday was 2000 - 2007. The best time of year is now, just before the holidays. It's dead all summer.

At any rate, eBay is no longer what it was. People don't have the discretionary income any more.
Craig's list has taken some of their business away as well as it is basically on-line classifieds. My wife has sold some stuff using that site quite easily and it's easier to sell stuff locally.
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Old 10-08-2008, 09:06 AM
 
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I've made a few thousand selling power tools.
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Old 10-08-2008, 01:40 PM
 
Location: Naples, Fl. w/change
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I've sold on e-Bay and did alright. In the last couple of years e-Bay has targeted the big volume sells and knock out the little guy. e-Bay is different then running an ad in a newspaper called (mail order). It's an auction and you have to be willing to wait. Craig's List is more to my liking and like the old fashion (mail order). I did mail order back in the 50's while still in school, whenever going out of town/vacation I'd grab an out of town phone book with addresses, it was a pain, but exciting to get new customers across the USA. This little business paid for many things. I sold library bags that I had sewn and cloth painted, EX Libras (from my books) on the front. There is another site for selling hobbies and crafts called Etsy.
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Old 10-08-2008, 01:50 PM
 
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Like others here have mentioned, it used to be a place to make a buck, not anymore. Very few people are able to make a living there now, or even pocket money. Way too much competition on both buying items to resell and then actual sales. Ebay has made many, many recent moves targeting sellers as the "evil bad guys" and it cut into people's bottom line way too much.

With the economy on its current path, sales are dead and growing worse by the day. I used to get 80-120 page hits for the little "wiget" I sued to sale during a week long auction, now I get 15-25 page hits for the exact same auction and item! That is a drastic cut in exposure and shoppers. I have since quit selling on ebay as with the fees, and occasional black mailing buyer, I was loosing money.

Basically with the exact same business model from 2002-2007, I went from making $30,000 as a side income part time to a loss of $3,200 last year. I quit and will not be back! I have no idea how some people continue to sell on that site. It is horrible now.
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Old 10-08-2008, 06:36 PM
 
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I agree. Making money on ebay is tough. I sell some products on my own website and make a decent side income off that after achieving a decent page google rank, but when I listed the same items on eBay, the results were terrible.

Unless you're able to get very good wholesale prices on a unique item that's in demand, it's not worth the time. I don't see how some of those power sellers make any money. It is good for unloading personal items, though. Like they say, the sites that money are gambling and porn.
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Old 10-08-2008, 07:38 PM
 
Location: Cave Creek, AZ USA
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I have always done well selling on eBay. I've almost never sold anything at a loss. The trick to making serious money at it is to get in with some good wholesalers and/or drop shippers. Obviously, you get the best wholesale price by buying in bulk, holding the inventory yourself and doing all the legwork of listing and shipping. Drop shippers cut into your margin, but they sure make it convenient. You'll never be able to compete with the power sellers on common items like iPod chargers, bluetooths, etc. You have to find something kind of unique. I've only done one drop ship deal on eBay, just to try it out. I made a $3 profit, but pi$sed the buyer off because the UPS label was smeared and made their address illegible and so it got returned and took a while to straighten out. Freak thing. I'll do some more drop shipping again when I get around to it. I don't think there's any way to get rich quick on eBay. It takes smarts and hard work.
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