Unlock Hidden Money in Your House – Sell Your Items On eBay

In my previous post at the link below, I described how I started an eBay resale business several years ago and discussed the steps I took to grow the business in to a profitable entity.

My Money Blog – How To Start A Business

In this post, I want to do the following: 1) introduce to everyone the idea that they can unlock hundreds of Dollars of hidden money in your apartment or house by selling your unused items on eBay and 2) share the three key learnings from my eBay endeavors that will hopefully help you in your future selling.

Sell Your Unused Stuff on eBay
If you’re like me (and most other people), you have A LOT of unused stuff around your house – DVDs and VHS tapes you no longer watch, books you have read or didn’t read, old bikes, speakers, amplifiers, shoes, unused shoes, radios, and the list goes on!

Now, just think about this idea – being able to get rid of your stuff and making money at the same time! Sounds nice doesn’t it? Well, if you’re willing to put in a little bit of leg-work and have fun in the process, you can make this dream a reality by selling your stuff on eBay.

How do you get started?
First, go to the ebay.com at the following link, and register for a selling account Register at eBay. Once you have done that, you are ready to start selling.

Now, at this point, I could go in to pages and pages of details of how to set up auctions and sell on eBay. However, there are PLENTY of book resources available on this subject already on the market. So, I’m not going to waste your time by just repeating that here.

My favorite book for general tactics at eBay selling is a book by Marsha Collier called, “Starting an eBay Business for Dummies.” The book has a very approachable layout, making it easy to find reference topics. Additionally, it is easy to read for beginning sellers. Pick up a used copy of this book at the Amazon link below!

Three Key Learnings To Help You Sell More and Make More

Listed below are the three things that I learned after many hours and trial-and-error of eBay selling. Put them to use and you will see results!

1) Not everything sells on eBay, so don’t try to sell everything! – Use “Completed Listings” Option

As the title suggests, the first thing you have to realize when selling household items is that not everything that you want to sell is going to sell.

For example, on my shelf right now, I have a used, VHS copy of the Harrison Ford movie, Air Force One. Now, let’s see if it will sell if I list it on eBay. I perform the search shown at the link below, and then on the left side of the screen, I scroll down, and click “show completed listings.” This shows a list of auctions that have ended with products with the same key words as the product I am wanting to sell.

Air Force One VHS eBay Search

In doing this, I find that only 1 VHS tape of the last 30 auction listings has sold. This is not a good ratio, and will not be worth my time or the eBay listing fee money required to list the tape. I then move on to another item in my house, and using the same system, I can find out what will have a good likelihood of selling success.

2) You don’t decide the price, the eBay marketplace does


So, using the method described in No. 1 above, you have found good evidence that something you have will sell in the eBay market. What’s the next step?

Well, what you’ll want to do is find an auction listing that has successfully sold (shows in green on the completed listing screen). Once you have found one, price the item you are listing at the same starting price or buy it now price. Don’t expect to make more by thinking you are smarter than the market!


3) It’s OK (and probably better) to mimic the auction listing format of successful listings


After finding a successful product listing as described in No. 2 above, if you like the format and information that is contained in the listing, don’t be afraid to professionally mimic what is shown on the listing.

Ever heard of the concept of “not reinventing the wheel?” The same thing applies here. You want to use a format that works. However, do not copy the listing word-for-word because it could cause complaints from the seller if it is seen repeatedly.


Well, I hope this advice gets you started on the road to unlocking some hidden money by selling your unused stuff on eBay. Good luck!

Keep on learning,

Jacob

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