Making a Living from Your eBay Business (2nd Edition)

The key to becoming a PowerSeller is to increase the number of auctions you closeand to increase your final selling prices. To that end, anything you can do to make your auctions more effective will improve your chances of achieving PowerSeller status.

What can you do to improve the success of your eBay auctions? Here are 10 tips that will benefit any eBay seller, PowerSeller or not:

Tip #1: Focus your sales activity. Occasional sellers can get by selling onesies and twosies that they pick up here and there. High-volume sellers focus on a specific type of merchandiseand sell lots of it. By focusing your activities, you can be much more efficient in your packing and shipping, as well as have a better feel for the category you're working with.

Tip #2: Buy low, sell high. It goes without sayingyou want to make as much money as possible on each item you sell. That means obtaining your inventory at the lowest possible prices. Some sellers try to double or triple their cost when they sell an item. You may not be able to achieve this type of profit margin, but you should definitely be aiming to reduce your product costs however possible.

Tip #3: List in volume. You won't become a PowerSeller by selling one or two items a week. You need to list in volume to sell in volume. That means running multiple listings simultaneously, having listings close daily, and utilizing the Dutch auction feature when you have multiple quantities to sell.

Tip #4: Be organized. When you're closing a large number of auctions every week, you have to get the process down to a science. That means being more efficient every step of the wayfrom creating your listings to shipping out the merchandise. Wasted time and energy cost you money.

Tip #5: Create professional-looking listings. The better-looking your item listings, the more auctions you'll closeat higher prices. For best results, invest in a good-quality digital camera (for crisp product photos), and utilize a professional auction creation and listing service.

Tip #6: Write powerful headlines and descriptive listings. Pack as much useful information as you can into the item list's headline. Avoid fluff words, and focus on words and phrases that are "search-friendly." In the body of your listing, be as descriptive as possible. Include all the information a buyer might need to make an intelligent purchasing decision.

Tip #7: Use auction management tools. Running dozensor hundredsof auctions a week can task even the best-organized sellers. Utilize one of the many auction management programs or services to help you track every step of your auction activityincluding the crucial post-auction communication and shipping processes.

Tip #8: Accept credit card payments. A large number of your potential customers want the convenience of paying via credit card. Don't turn away business; at the very least, sign up as a PayPal merchant so you can accept payment by plastic. Make it as easy as possible for your customers to pay.

Tip #9: Provide stellar customer serviceand fast shipping. Remember, the customer is king. Bend over backward to satisfy your auction customerswhich includes shipping your merchandise promptly and securely.

Tip #10: Take your business seriously. To run a successful eBay business, you have to be serious about it. For most PowerSellers, it's a full-time activity. Treat it like a businessnot a hobby or occasional pastime. Be professional in everything you do, and you'll reap the rewards.