How to make money on eBay
A relatively easy way to earn some extra cash
Morning Business Outlook: EBay is selling the online ticket exchange site StubHub for $4 billion; Disney+'s 'The Mandalorian' tops Netflix's 'Stranger Things' as the most streamed show in the U.S.
EBay is an e-commerce website that allows anyone to sell new or used items on their own terms under eBay's policies.
The platform has 182 million global shoppers and takes 10 percent of a seller's final value price once an item sells.
THE 7 LARGEST ECOMMERCE COMPANIES IN THE WORLD
Selling on eBay is a relatively easy way to earn extra cash. Here's how it's done:
1. Create an eBay account
The first step to selling on eBay is creating an account here. Users can sign up with their Facebook, Google or Apple accounts.
2. Select product for selling
After creating an account, the next step to selling a product on eBay is finding the product on the platform. Users can click the "sell" button at the top of any eBay page to start.
After clicking "sell," users are brought to a search bar in which they are prompted to type in keywords or the universal product code (UPC) or international standard book number (ISBN). Entering a UPC or ISBN for the product you wish to sell will increase its visibility among eBay shoppers. Once entered, users must press "Go" for the next step.
HOW MEG WHITMAN TURNED EBAY INTO A MULTI-BILLION DOLLAR COMPANY
Pressing "Go" will bring users to another webpage showing products that match the keywords or codes users enter into the search bar. Once a user identifies his or her product, they must click a button that reads, "Sell like this one."
eBay screenshot / Fox Business
3. List product
Sellers can choose how many details they want to add to their product listings, though listings with more elements like a transparent and detailed description, multiple pictures, information about the physical details of the item and clear return policies will attract more buyers.
Buyers are less likely to look at a product with limited information out of concern that it could be a scam. There are tips on how to price an item on eBay's website, which does not allow price gouging. Users can opt to list items with fixed prices or auction them off on the site.
The site will indicate which listing description fields are required by eBay and which are not.
4. Set up payment information
Sellers must share their payment information with eBay in order to receive payment for sold items and set up automatic payment for eBay fees.
Users receive monthly invoice emails from the platform that detail information about fees for listings, sales, subscriptions, refunds made to buyers and shipping label charges, according to eBay.
There are different fees for different products, plus additional fees for sellers who use PayPal.
5. Ship your item
Once a user lists an item and successfully sells it to a buyer, it is up to the seller to ship that item. As the website notes, offering more than one delivery option for customers may increase the chances of an item being sold.
STOLEN PACKAGE NUMBERS SPIKE AMID CORONAVIRUS
eBay has a tool that will estimate the shipping cost of an item based on package weight and dimensions. Users can choose whether they would like to pay for shipping for customers, charge the customer for shipping, or set up an in-person pickup for larger items such as vehicles.
The platform recommends looking at other users' shipping costs before setting one's own shipping cost.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
6. Get paid!
Buyers can purchase products using PayPal, debit or credit cards, or by paying in-person. Users can check the payment status of items on Seller Hub or My eBay.
Sellers can also use eBay's mobile app to buy and sell products.