Help Me Figure Out How to Make Money, Please
Summary: antiquevintageandnew shared their experience of selling vintage and antique jewelry on eBay, expressing concerns over increasing seller fees and reduced profitability. They sought advice on better pricing, promotions, and shipping methods. mr_lincoln suggested increasing inventory and reconsidering the no returns policy to attract more buyers. fabrics24 emphasized the importance of selecting the right inventory by predicting nostalgic trends. kibble-net listed practical tips like using a spreadsheet for tracking profits, optimizing promotion costs, offering customer-friendly policies, using actual shipping costs, and continually learning from resources like YouTube to enhance business strategies.
I've been selling on eBay for just over 2 years now. At first, it was just a side hustle. But then my health got in the way of my regular job, and now eBay is my main deal. I mostly sell vintage and antique jewelry, with some other cool finds that I can flip for a profit.
About 6 months ago, my seller fees went through the roof! It gets so bad sometimes that I feel like I'm paying eBay to let me sell my own stuff. Instead of making money, it feels like I'm just handing it over to eBay.
A rep told me to stop promoting my stuff, but that tanked my sales. I was barely selling one item a week—if that—and only making pennies when I did.
So, what's the trick to pricing stuff right, picking the right promos, and figuring out shipping so I can actually keep some of the cash I make?
kibble-net
·2 weeks agoSelling on ebay is a tough business. You will be hard pressed to find someone to give you a play-by-play method of making money for free, that's something you will need to figure out on your own, or pay good money to professionals to help you craft a plan that works for you. Thankfully this forum is full of advice, most of which is generally helpful.
Here are five generic tips I would recommend, that may help you improve your sales and profitability:
(1) Use A Spreadsheet. You shouldn't be paying more than you're making. I would highly recommend keeping track of each item in a spreadsheet to see your exact profit, after taking into account all costs.
(2) Don't Overpay To Promote. Promoted listings are helpful but you need not pay more than the minimum 2% for this. Ignore ebay's "suggested" promotion rates, it's complete bunk.
(3) Be Your Customer's Advocate. Some sellers prefer to be their customer's adversary. You can do better by being their advocate. This means offering returns and giving them peace of mind about their sale. Yes you're going to have a crazy customer every now and then. But you'll gain more than you lose by providing reassurance to customers that they will be taken care of if there is a problem.
(4) Use Actual Shipping Costs. This one's self explanatory. Shipping is the easiest way to lose money if you aren't careful. Use calculated rates & add a small handling fee for packaging and fuel.
(5) Keep Learning. There's a lot of info on this forum, but it's not the only place to continue your ebay education. Youtube channels like Justin Resells are a wonderful resource and don't cost a dime to watch.
Best of luck to you in your business. And don't forget, a little bit of personal responsibility goes a long way.
fabrics24
·2 weeks agoFinding the right inventory is vital. If you can only move something if it gets promoted, it's time to get some new stuff to sell.
It's hard to pinpoint exactly what "good inventory" is for everyone (something that sells great for one person might do terribly for another), but the sweet spot is to find things that are higher demand but lower in number. As for vintage items, consider what was popular 30 or so years ago, and prepare for those items to have a renaissance. People who feel nostalgic about those items and have disposable income are going to be on the hunt.
Learning about what is trending and why can help you select better inventory.
mr_lincoln
·2 weeks ago · EditedHi @antiquevintageandnew
-The rep was right
-Part of selling is a numbers game, the more items you have for sale the more chance something will sell. You have sold a total of 145 items on this account and only have 100 items for sale right now. Your account is less than 2 years old.
-You are basically still in the start up phase of selling so again, you need more items for sale and Buyers have to be looking for your items in order to purchase them
-The No returns policy probably isn't doing you any favors either, it happens to be the DEFAULT return setting on eBay listing tools and it sends the WRONG message to both Sellers and Buyers. Sellers may think they are immune to returns when the truth is the opposite and inexperienced Buyers may pass you by looking for Sellers who Accept returns. You should consider Accepting returns moving forward.