14 Tips to Help You Make Money From eBay And Amazon
There's always a learning curve to any business and eBay and Amazon, are no exception. Like most new business owners I faced teething problems. I worried about situations I thought were unique to me, I spent long hours looking for answers to problems I thought would jeopardize my business then and in the future. It happens to everyone and not long after we all look back on those days and wonder why we worried so much, why we wasted time looking for answers to problems that really were not that important -then! Worry wastes time, it causes stress; That's worry and stress you need not suffer based on tips I'll provide for you now.
Tips to Help you Start Making Money on Amazon and eBay
1. I worried that I knew very little about the type of books that would sell at a profit on eBay, and on Amazon. I was especially worried about spending money on items I'd later have trouble selling. Today I know the best type of books to buy are usually niche subjects, sometimes a little obscure in content. This is because in most cases these types of books will have low print runs and so they quickly become 'rare'. That's because, not only do many niche titles have lower print runs over mass market books, they're also likely to be retained by their earlier readers, many of those people are enthusiasts about the particular subject, and that also means fewer copies finding their Way onto the secondary market. The secondary market, by the way, is the posh name for 'Second-Hand'.
What I really look for are contemporary books in good condition, usually with an ISBN number (10 or 13 digit number above the barcode on the back of the book). Non fiction is always preferred but I usually seek out up-to-date fiction paperback books in very good condition as these are my bread and butter sales. In most cases they will only fetch 1p plus p & p, but as I sell in volume (over 100 per week) I pay an average weight with discounted postage rates from Royal Mail.
2. As a new Amazon seller I would advise you not to start out buying fiction books or popular fiction as these tend to sell for low value on Amazon and profits will tend to be slim to non satisfactory. When I first started on Amazon I would not buy books 'blind' (buying blind is what I refer to as buying books without checking first to see if they have value on Amazon), unless they were under 50p and they were non fiction. If I could not make a worthwhile profit selling the books on Amazon, then I would sell them on eBay, very successfully. You will be surprised how many books I have sold for high profits for example 8 plus p & p despite the same books being listed on Amazon for 1p plus 2.75 p & p.
In most cases buyers do not shop around from site to site, they do not compare pricing, there may also be more competition for a book on eBay than Amazon and hence higher prices are achieved at the auction site. I also find that author-signed books fetch much higher prices on eBay than on Amazon, so there is another opportunity to buy low on Amazon in anticipation of higher prices at auction.
3. Do not put all your eggs in one basket, especially in these uncertain economic times. I keep my eBay account ticking over from month to month mainly for autographed and rarer titles which generally fetch more from eBay than Amazon.
4. Although eBay and Amazon have much in common there are significant differences in operating methods that allow the sellers to make more money from specific items on one site than the other. There are things you can do easily on one site that you can not do so easily on the other. For example, eBay's auction site differs very to the way Amazon marketplace works with set pricing. Amazon has no listing fees so you will not be out of pocket on items that do not sell. Amazon only gets paid when a product actually sells. This is excellent news for people working on a strict budget and I heartily recommend Amazon to anyone being made redundant or finding their income reduced by the recession.
5. Get your stock from charity shops. As well as selling books most charity shops have a wealth of unusual goods that you can purchase relatively cheaply to resell. In fact, many cheap goods on charity shop shelves are of decent quality and they are perfect for selling on eBay.
6. Reference and study books are very popular on both sites, but on Amazon older edition copies may be quite hard to sell for decent profits due to the sheer number available and the fact that newer editions have superseded them. On eBay you really do have to take listing fees into account before uploading anything you're not sure will sell.
7. Study books can be quite hefty and drive up postage costs which cut into profits which you can not pass on to buyers. This is because Amazon charges buyers a fixed postal fee of 2.75 for books posted to UK addresses, so you have no flexibility with postage costs. To make any sort of profit from the sale value of your book of 1p plus 2.75 p & p your postal costs must be kept low, not something which can be done with a 1kg study book costing 4.20 to send.
8. Sell older edition study books on eBay which are uneconomical on Amazon. I typically start with an asking price of 2.99 plus a relevant p & p charge (be sure to list the appropriate postage for heavier books).
9. Utilize eBay in other ways, such as for books that are illegally to sell individually which I box up into lots of 500. I put them in an auction on eBay with a starting price of 9.99 and stress they are for collection only. I usually receive from 30-50 per job lot. Okay, it's not much but I use the proceeds to buy better stock and that's better than chucking them in the recycle bin.
10. Make up smaller job lots of books with similar genres. For example, I often bundle together four Mills and Boon romance paperbacks and regularly receive in access of 5 or 6 for them. They are relatively low in weight collectively and on occasion I have sold three or four lots to a single buyer. It also works to group together titles from the same writer. Authors such as Catharine Cookson and Danielle Steele are often difficult to make profits from per sale but can sell well in batches of two or three.
11. Sell books withdrawn from libraries on eBay. When posting books every gram counts and so if I remove the dustcovers it makes the books lighter, and saves on postage costs. If I have bagfuls of library covers I batch them into sizes and sell them in packs of 10. Buyers snap them up at 10 for 5.98 and this is all pure profit since I've already made money on the books themselves.
12. Look for items with a subject matter in common which can fetch really good mark-ups. At car boots and charity shops I look for items I can put together to raise their novelty value. There's another profitable trick here and it has to do with bundling related items, but not just books and videos. I also look for jigsaws; Videos, ties, CDs, or DVDs and batch them. So, for example, a video of the Titanic will have a low selling value on its own, but batch it with a jigsaw and you can attract a collector of that subject that buys because it is unusual or rare. I have also batched china ornaments and pictures, paintings and photographs within the same subject area.
13.Clothing donated to charity shops ranges from common and cheap to rare and very valuable and many shops do not differentiate between the two. And so you'll find shirts from Asda's George range right next to designer Charles Tyrwhitt shirts and both priced at 2 each. I snap the designer shirts up and sell them easily for three or four times higher prices plus postage and packing. The same thing is possible with ties, again, the mass market products can hide a designer gem. You can do this on eBay and Amazon, but always check past sales for similar items before deciding where to list.
14. Try to spot items that look a little bit different; I often have a punt on cheap items just to see. On one occasion I had a punt on an old knitting magazine which was worthless but it did contain a paper paper for socks. I was absolutely amazing to make 12.50 plus p & p (to America) for the sock pattern! Three people were bidding for it as it was a rare item and the price was pushed up.
– Use both sites to their strengths and you will most certainly make extra income.
– Use whichever site fits the profile of your main business but use the other to generate extra income.
– Keep a look out for good quality, unusual goods at car boots and in your local charity shops, items to look for do not have to be expensive or 'rare' goods.
– By all means have a little gemble on cheap items; If you find yourself thinking 'I wonder', dip your toe in the water, it is invaluable in building up experience and confidence.