Let other sellers locate, research and source high-profit products- so you don’t have to!

PLUS: Sell your products worldwide…

PLUS: Learn before you earn…

Let eBay’s most experienced sellers locate, research and source high-profit products – so you don’t have to!

It happens for Christmas, Valentine’s Day, Easter, back-to-school, Halloween, and so on – ‘it’ being, for a small proportion of consumers, the start time to begin buying seasonal goods and novelties several months ahead of the main event and for only a few sellers to serve them.

Most other sellers will wait for the market to hot up a few weeks before the big day. That will include you and me!

Let eBay’s most experienced sellers locate, research and source high-profit products – so you don’t have to!

Let me tell you why we will bide our time before selling…

It’s because those early-bird sellers will spend heavily on product-sourcing and test-marketing to identify products from which the bulk of their seasonal profits will come.

Those people will continue testing until they are absolutely certain each product they offer will achieve regular sales and high profits over the coming two or three months.

Then they will upload all their product listings and begin selling right away. And within days we will steal their ideas and benefit from all their hard work.

Tough, isn’t it? For them, that is, not for you!

One of the best places to spot these early bird sellers is at Goofbid.com and all you need is a rough idea of the kind of products you’d like to sell, such as personalised Christmas baubles, teachers’ gifts, Christmas stockings, and so on.

Among other things, Goofbid searches and returns eBay product listings most closely approximating your chosen search terms.

Down one column you’ll see how many sales have taken place for your search product, while another column shows price. You are on the lookout for double or triple-number high-price product sales taking place six weeks before the main event.

Start by clicking on ‘eBay Tools’ at the top of the page at www.goofbid.com, and then choose ‘eBay Most Popular Tool’ on the right side of the drop-down menu. On the following page you describe your product in the search box.

On the next page, click on a listing, choose one with lots of sales and a high price. You’ll be taken to the actual eBay listing for that product, from where you click on the number of sales made (find it just under the title of the listing) to determine when transactions took place and if multiple product sales are common. Some products will sell daily, sometimes several times a day, and some will represent multiple purchases to the same buyer.

Those listings are for products you can now consider sourcing and adding to your own inventory, with very little test marketing involved.

That test marketing has already been done for you by your target seller and now you can use that person’s listing and marketing techniques for your listings too.

Just don’t copy images or words too closely or you could be accused of plagiarism and breach of copyright. But there’s nothing to stop you copying that other person’s chosen product category and prices, delivery cost, number and type of images, and so on.

And if you are really careful not to get caught, you can use the same product supplier as your target seller is using and ask for a small discount or buy in bulk to get a lower price, so keeping more of the takings than your rival seller.

That might involve buying the product from your target seller and looking for the maker and supplier usually printed on product packaging.

But use a different eBay account from the one you’ll be selling through, or the person whose ideas you’ve just stolen might retaliate by contacting you directly or having someone buy from you purely to leave you negative feedback.

Tips

  • Add product names and sellers’ IDs to a spreadsheet. Study eBay sales pages for those products daily. You’re looking for products with demand growing significantly in advance of the main buying period.
  • Look for new product ideas daily, while keeping a careful watch on earlier ideas. Keep going until you find as many products as you can handle over the forthcoming season. Opt for high-profit items over low; minimum competition items over high.
  • Obtain a sample of each target product and list it on eBay. Spend your early profits on more units of product. Now list several items in a multiple product listing and replenish stock as soon as goods sell. Continue until demand begins to dip, at which time you can let listings continue another few days before running a sale to offload surplus stock.

Sell your products worldwide…

Offer your products internationally, preferably using the relevant individual eBay sites rather than listing on eBay UK and inviting overseas buyers.

This is because seller competition varies worldwide, making it possible to sell unlimited units at higher profit margins in some countries, while achieving few or no sales in others.

Where you list on eBay UK, for instance, and invite orders from other countries, you have to charge everyone the same price.

But sell on individual sites and you can tailor prices and offers to suit domestic buyers, as well as creating foreign-language listings and introduce products that tend to attract one-country buyers.

Revealing how the US is choking with sellers for some of their products and short of sellers on other eBay country sites, a selling duo tell us: ‘We sold more GPS devices for $120 in Australia than we did for $90 in the US.’ (Figures based on US dollars and equivalent. Source: http://www.crazylister.com)

It’s also a good idea to list directly onto overseas sites for products subject to value added tax. This is because VAT rates vary across participating countries, so listing in separate countries allows you to more appropriately charge VAT, as well as maintain accurate accounts and process official returns.

But when you list on international sites you must still comply with eBay’s duplicate-listing policy. They say: ‘If you list an item on one of our international sites that you’ve also listed on ebay.co.uk, you must exclude postage [I think they mean ‘delivery’] to that country within your eBay.co.uk listing. This is to avoid duplicate listings.’ (Source: http:// sellercentre.ebay.co.uk/advanced-international-selling)

My opinion: How difficult and complicated is that going to be? But possibly worth the effort if profits are good.

Learn before you earn…

Pay careful attention to every product listing and make sure you understand your product before describing it to others.

Any obvious lack of product knowledge will put people off buying and restrict sales from your affected listing and possibly all your other listings.

Learn about your product before listing it by studying suppliers’ and manufacturers’ descriptions, product packaging, and listings from people with more experience of selling a similar item.

This article first appeared on Auction Genie. Read more and comment here