Have you used eBay before? It seems so simple: put an item you’ve got laying around your house on eBay, someone bids on it, you mail it and you get cash money. While in theory it is that easy, in reality, millions of other people are trying to do the same thing. One easy way for young professionals to help out their finances is to increase their income. However, being a young professional implies that we have a full-time job that probably takes up a lot our time. Part-time jobs are probably out of the question. We all easily have older stuff laying around that we don’t need anymore, and we could stand to make some money off of them.

I’ve had a fair amount of success myself selling some of my older stuff on eBay and thought that I would share a few of my tips with you:

1.  Do some research before posting anything. While you might think that there must be someone out there who would love that Power Rangers lunch box you found lying around, there might not be. Do a quick search or two for the actual item you’re trying to sell. If there are already a couple listings the same way, you’ll be in good shape. If not, definitely try but don’t be too bummed if it doesn’t sell.  Also, take a look at how many items actually sold, and for how much they sold. Not only does there have to be supply, but also demand.
2. Lower your expectations for price. Put yourself in the buyer’s shoes. They are looking at several of the exact same item, all being sold by fairly reputable sellers (otherwise eBay would probably kick them out), all with about the same shipping options. How do you suppose the buyer will make their decision? PRICE! Having some cash is better than having no cash. Price your item a bit lower than all the other options, and hopefully it’ll sell quicker.
3. Be honest. No need to lie. People realize that what they are buying is used. If your item isn’t in the best shape, just let the price reflect that. Misleading buyers is a quick way to find yourself in a “dispute.” Unfortunately for you as the seller, eBay often takes the side of the buyer.
4. Provide excellent service. It may just be shipping an old DVD that you don’t watch anymore, but shipping within the next day or two goes a long way. Be quick, and be prompt.
5. Don’t overcharge on shipping. Keep it fair; often the actual price you paid to ship it will show up on the package. Make your money on the actual sales price, not on the shipping.
6. Be aware of eBay and PayPal fees. Both list their fees on their site, and the amount depends on the final sales price (including shipping). It’ll sometimes be 20-30% of your sales price. Be sure to factor that in. Selling items for $0.99 won’t make you much money at all.

With a little skill and a little research, making money on eBay can be a great way to earn a little cash on the side.

Thanks so much for reading my article! If you enjoyed it, please consider sharing it on Facebook or Twitter. Pretty please, with a cherry on top?

-Ben