It is first important to know you need to conduct your research not only by active auction listings but also by completed auction listings. By searching both active and completed listings, you’re better able to determine your average final bid value as well as the average number of items sold versus the number of items listed.What do I mean by this? Well, there are two different types of sellers (at least to me when doing research): the Business Sellers and the Garage Sale Sellers.
Business Sellers are eBay users who use eBay as a means of income. These buyers purchase products solely for the purpose of reselling them for a profit. This means they are listing their items with a profit in mind (which gives you an idea of what you will need to purchase the same products for to make a profit).Garage Sale Sellers are those eBay users who use eBay as a hobby.
They typically are using eBay to get rid of things around the house. Perhaps clothes their kids have grown out of, things they no longer use, and so on. Because these individuals aren’t necessarily using eBay as a business, they usually are listing the items for much cheaper than if the item was new (or overstock) and they needed to make a profit.
You now have the basic information necessary for starting your research! I will continue to send follow-up information on research in my newsletters to help you better understand its importance. This will be especially helpful for people who are new to selling on eBay as well as new to my approach of how to sell profitably on eBay.
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