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There is a story that circulates on the internet about what sold in the early days of eBay. The story goes that Pierre M. Omidyar, the eBay founder, was walking down the street with a friend who was a skeptic about selling on eBay. Omidyar reached down to the sidewalk and picked up the flip top from a beer can and said to the skeptic, "I bet this will sell on eBay." The skeptic took the bet and the flip top sold for $25! That was fourteen years ago but it illustrates eBay's success at the time and the fact that many people still believe that almost anything will sell on eBay. Unfortunately, or perhaps fortunately, that is not true anymore. According to more recent information the sell through rate (the number of items that sell divided by the number of items listed) is less than 40% and the average selling price of an item is under $20. It is very unlikely that Mr. Omidyar would win that bet if it were repeated today. Both the world and eBay have matured in the last fourteen years. There is clearly less discretionary income in these times and the ebay platform has matured as the need for security and upgraded customer service resulting from other competitive sites (Amazon) has increased. At one time a novice could write a listing, photograph the item, upload it onto the internet, manage the sale, collect the money and ship relatively easily. Today, however, even if you understand the multiple new rules governing trademarked items, and can understand eBay's seller's rating system and make your way through the layers of secuirty, administration and Paypal requirements, the listing may take an hour and a half- and you pay a listing charge whether it sells or not. As a result, what sells on eBay looks a lot different in 2009 than it did in 1995. First the research is much more extensive. To get a quick idea about whether your item will sell and for how much look the item up on eBay, see how many "like" items are up and look at the bids. Many people make the mistake of looking at the "asking price". The only relevant comparison is with a sold or bid price. Second, forget what you paid for the item. A lot of people decide unilaterally that the value of their used item must be the purchase plus some number, or that they won't sell an item for less than their original purchase price. If you think that highly of the item then don't bother selling it! A couple of bucks in your pocket is often better for you than the money you spend on that storage unit for something that your children won't want. There are many misunderstandings about valuations that relate to the condition of an item. By definition, the condition of a used item is subjective. What is good, excellent or "mint" is in the eye of the beholder; what is "new in shrink wrapped box" is pretty standard. Another mis-used term is "vintage". Is an item made in 1985 "vintage" or not. Well, "that depends" is an appropriate answer. If it ia a piece of jewelry and made in 1985, it probably is not "vintage". If it a GI Joe six foot long nuclear aircraft carrier still in the box, that may meet the definition of "vintage" and it is worth more now than when it was first sold. Designer clothes are a very interesting case. A one year old Women's St. John suit in excellent condition is very marketable. A three year old Louis Vitton leather wallet may be a little out of date. At the end of the day, this is why I Sold It on eBay exists. We'll do the research and make sure that it will sell for a reasonable amount. We'll tell you what it is likely to sell for. We won't guarantee it but we successfully sell more than 10,000 items a year on the internet. If it sells well, we have probably seen it. A short list of what to look for follows: 1. It needs to sell for more than $50. Given the work and costs involved in listing an item, anything less than $50 is not worth your time or mine. Bring your item in, call us or contact us through the internet. We'll be glad to give you that information. Remember we don't make money unless you do. 2. Your item needs to be shippable. Appliances and furniture don't work because of the shipping expenses. Buyers on eBay tend to have a price in mind that they are willing to spend on an item. They subtract from that cost the shipping and handling expenses and what is left over is what they will pay for the item. 3. It needs to be describable. Sellers don't often understand this. There are 6 million listings on eBay at any one time. You can't window shop each listing! They must be "searchable" which means having a brand name or description where the search engine can find the item that the buyer wants to buy. This is one of the most common mistakes that people make. Spelling the item wrongly, listing it in the wrong category or having a "generic" lisitng all doom the lisitng to failure. 4. Are there other items like yours that are currently selling on eBay? If you have a 1950's Ertl cast metal tractor and you find several selling on eBay, the chances are that your item will sell also. Sometimes it is just as important to understand what not to sell on eBay as follows: 1. Too big, too heavy= no sale. 2. If you can buy it in a Walmart or Target it won't sell. If it is available where it can be easily purchased why would anybody go on the internet to get it unless the price is very low. If that is the case neither of us make money. 3. A "Cast Metal Tractor" from the early 1950's may sell for five dollars. An "Ertl Cast Metal Tractor" will probably sell for more than $50, even in well used shape. If it doesn't have a searchable brand or name, the value erodes rapidly. 4. Both men's and women's designer clothing, accessories and electronics are "perishable". Last year's stuff sells well. Items from five years ago do not sell well, but if it is more than thirty years old and in good shape it probably does real well. Two years ago a study was done which maintained that every household had $2,500 worth of saleable eBay items. That study is still true. Good selling!! |
