Resources: eBay University Helps You Make Money

November 13th, 2005 by Laurie Barak

Source: NBC10 (Philadelphia, PA)

Millions of people use eBay every day, and plenty have turned that hobby into a way to make big bucks. How you do you get started? Well, some go to school.

eBay is the place where grilled cheese sandwiches sell for $28,000 and someone can auction off their belly as advertising space. It is also the place where millions see opportunity – the opportunity to make a buck. Arthur and Leslie Fields would like to expand their business. “We have gifts for all occasions,” Leslie said. “We originally and still have a Web site, but it was very difficult for people to find us and we thought this would be an alternative,” Wesley said.

The Fields decided to go back to school – eBay University. “We’re going to show you how to sell on eBay today,” Jim Griffith said to his students. eBay holds classes like this all year long. “There’s a lot of people who make a lot of money and I think it’s a misunderstanding to say that it’s just a site where you sell as a hobby. I know sellers, personally, who are grossing more than a million dollars a month selling on eBay,” Griffith said. But you’ve got to crawl before you walk. That is why these people are all here.

Step one? Pick an item. Make it something cheap, easy to pack and, if possible, new. “Find something in your possession that you don’t want and use it as your first test item,” Griffith said. The holidays are coming up. Can you say, re-gifting? Once you’ve got an item, proceed to step two.

Check out the competition. “Unlike other marketplaces, eBay is totally transparent so you can learn from other sellers you can learn what to do. You can learn what to avoid,” Griffith said. For example, you want to look at other people’s pricing, their descriptions and pictures. See which ones sold, for how much, and with how many bids.

Finally, avoid the single biggest mistake new e-bay sellers make. “They put a too high price on the item when they’re using the auction format, so they have an item, they believe and it could be worth $100, they’ll start the bidding at $100,” Griffith said. Griffith suggests you splurge the 35 cents and get a gallery or thumbnail photo.

Also, write a detailed, interesting description. Then go for it. “Learn by doing. That’s my favorite way,” Griffith said. That’s what the Fields are doing. “It confirmed in my mind that it was a wonderful vehicle for presenting merchandise that would not be seen otherwise,” Leslie said.