Learning how to buy and sell online is now a lot easier, writes author of the recently released The New eBay, Todd Alexander.
When I started working at eBay over 11 years ago, it was a largely unheard-of brand, an American auction website that sold mostly second-hand items. Today, eBay is a long way from its unique beginnings and while a huge number of Australians still sell their used items on the site, it’s also Australia’s leading destination for businesses to sell brand new items. In fact, today more than 80 per cent of all items purchased on the site are new, and most of these are at a fixed price. So what does all this mean for retirees?
When Australians leave the workforce, extra money to spend on travel and entertainment comes in very handy. With eBay, you don’t need to re-enter the workforce to make that money – you can be your own boss, choose to work your own hours, and be entirely accountable for the amount of profit you make. More than seven million Australians visit the site each month – it’s a dynamic marketplace where thousands of Australians make a full time or supplementary income. With low barriers to entry, seniors are now using the site to help pay for retirement activities.
Getting Started
The best advice I give all newcomers is to start small – and be the customer, first. Think about what you want to sell and buy a range of these items from the site. Learn from other eBay sellers what to do, and what not to do.
Then, start selling some second-hand items from around your home. This is the best way to get your feet wet as an eBay seller – once you’ve mastered buying and personal selling, you’ll then be ready to consider making more serious money.
Sourcing Products
The most common question I get asked is: what should I sell? The answer is simple. Start selling something you’re passionate about. For some retirees, you can make a more than adequate income by simply selling the things you no longer need or use, and those of your family, neighbours and friends. Other people make decent money selling things they create – arts, crafts, furniture, etc. You should also think about your family and friend network; can someone connect you with a local or overseas manufacturer to source new products direct? Whatever you sell, make sure you do your research carefully to ensure there is enough of a market to provide you with an adequate profit.
Steps to Success
Once you’ve found your product and you know how the basics of selling work, it’s time to establish yourself as a professional business on eBay. Here are some essential tips to follow:
- Use popular, simple and highly relevant keywords in your item title
- Take brightly-lit photos with a plain background
- Take multiple shots from many angles
- Describe your item as if you were writing a high quality retail catalogue – include everything your buyer could want to know about the product’s features
- Accept popular payment methods such as PayPal
- Provide outstanding customer service
- Post your items quickly and safely (use good packaging)
Benefits for Retirees
- Be your own boss and decide which products you want to sell
- Work from the comfort and safety of home
- Choose the hours you would like to work
- Gain access to eBay’s 7 million+ potential buyers
- List items for free–pay only when you sell
- Interact with people from Australia and all over the world
- Make money from an existing hobby or passion
- You decide the scale of your business– keep it as small, or grow it as large, as you would like
Get Expert Advice
Before you begin making a regular income selling on eBay, it’s important to get the right advice from your financial adviser so that your eBay income does not affect your tax or other financial status. The ATO can also provide advice on what types of income should be declared.
Once you’ve learnt the basics, eBay opens a whole new world for seniors. As eBay seller Alan Howard of Hobart told me, “no other platform provides as many customers as eBay does”.
“The most common question I get asked is: what should I sell? The answer is simple. Start selling something you’re passionate about.”
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