Lifetime Ebay Income - How To Price Your Products For Maximum Profits
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There's a popular saying among investors that you would have seen or heard of: "Buy low, sell high". The same holds true on eBay. There are two methods to succeed on eBay: you could sell products at a low cost but at a high volume, or at a high cost but at a low volume. Many eBay sellers have experienced success using either method. We'll look into those two methods in this article.
Going with the high volume route consists of less risk because you are able to get your goods at a lower price. Buying expensive merchandise increases the risk factor. In either case, developing a good relationship with your suppliers is vital.
To succeed using the high volume strategy, sometimes you'll need a few hundred to a few thousand listings running at any one time. Well, that's what the successful eBay sellers do! As you can see, this can result in hundreds of dollars in listing fees. That's why you need to do your calculations before you make your purchase of wholesale products.
There are a few ways to go about pricing strategies. The most popular auction is the one with the low starting price. This attracts more bidders to your listing and creates a 'social proof' effect. If many people are bidding on the item, well it has to be good! At least it appears that way.
You can also start your listing at the cost price you bought the item at. This ensures you will not make a loss from your sale. Of course, you'll have to consider the listing fees and Paypal fees as well.
The last way of pricing we'll discuss is the Buy It Now pricing strategy. This kind of listing appeals to the buyer who wants to get his item now, and not risk losing the item in a bidding war. This auction can work well and you'll often sell more items quicker this way, while not achieving the potential high selling prices an auction might.
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Going with the high volume route consists of less risk because you are able to get your goods at a lower price. Buying expensive merchandise increases the risk factor. In either case, developing a good relationship with your suppliers is vital.
To succeed using the high volume strategy, sometimes you'll need a few hundred to a few thousand listings running at any one time. Well, that's what the successful eBay sellers do! As you can see, this can result in hundreds of dollars in listing fees. That's why you need to do your calculations before you make your purchase of wholesale products.
There are a few ways to go about pricing strategies. The most popular auction is the one with the low starting price. This attracts more bidders to your listing and creates a 'social proof' effect. If many people are bidding on the item, well it has to be good! At least it appears that way.
You can also start your listing at the cost price you bought the item at. This ensures you will not make a loss from your sale. Of course, you'll have to consider the listing fees and Paypal fees as well.
The last way of pricing we'll discuss is the Buy It Now pricing strategy. This kind of listing appeals to the buyer who wants to get his item now, and not risk losing the item in a bidding war. This auction can work well and you'll often sell more items quicker this way, while not achieving the potential high selling prices an auction might.
Click Here to download your FREE report called "Instant Money Secrets: How You Can Make $500-$1,000 Per Day Online Using A Simple Secret 3-Step System!" Instant Money Secrets