eBay Millionaires?

[danny-b]

Yeah, im pretty happy about my sales at the moment!

And i can see a great potential on ebay personally. I know alot of people think bad about ebay now, especially with all the changes and stuff. But i think the new changes might actaully benefit me with the front end risk they are taking away. Obviously more in backend charges but still probably works out better for me!

All this is done with just ONE product in ONE market. And i have found other markets that seem to have potential. It is hard to find a good market, but if you keep at it you can uncover goldmines.

I am looking towards other channels not because i cant see ebay as longterm, but i would like to spread my eggs accross the different baskets that are available. At the end of the day they all count! And its all profit!

Last week, i pulled in near £3k (profit) in ten days and actaully finding myself running out of stock to quickly!

I was doing sales of around £500 daily average, but some days went crazy and had turned over up to £850-£1000.

I think its just getting the right balance on ebay, you have to weigh everything up. I do pay alot in ebay fees but my profits more than make up for it.

Still i am far off being a millionaire yet... but im pretty happy with the results so far.

I will be documenting my system soon enough, and im going to start teaching people how they can do just the same.

 

[FashionHairShop]

Everyone's sales seem to have dropped since the new ebay changes if you would like to voice your views about the new ebay changes.

I have set up a poll to count the views of ebayers on various forums all views will be submitted to ebay however big or small.

Click Here To Take The Online Ebay Fee Change Poll

 

[serendipitybusiness]

Yeah, im pretty happy about my sales at the moment!

Last week, i pulled in near £3k (profit) in ten days and actaully finding myself running out of stock to quickly!

I stand corrected, you have obviously found a great niche, well done and I wish you the best of luck.

 

[karlxcrozier]

I started an ebay business last year and in that year i have made £250,000,00 profit with a turnover of around 900,000.00. As someone earlier in the post said, you list the products in ur store for around 0.04p and then pay final value fee, but the trick is to build a customer base and get them away from ebay and to contact u directly.. i am now flying to china to do a deal for more stuff and i expect to be at the 1,000,000.00 profit within the next 2 years... i started in the house until it took over and i had to get premises! If you do it right you can make a fortune!!! I will not tell you what i am selling as i do not want anyone to start selling same products!lol
It has not been easy but nothing worth while ever is!!

 

[Chris Ashdown]

Wow 0-£900,000 in first year then it takes 2 extra years to make the extra £100,000 you must be resting on your laurels

pre-hapse you would like to post your ebay name

 

[stevemcqueen]

i have made a living off it by buying and selling off ebay. but never come close to making millions

 

[ca_jamesscott]

If you're a professional eBay business seller, with a typical monthly eBay turnover of >£20k, then you should make it along to the ChannelAdvisor Catalyst event at the end of March.

www.channeladvisor.co.uk/catalyst.

We'll be covering some advanced eBay strategies in a variety of workshops and demos, plus hearing from eBay UK's Managing Director, Mark Lewis, in person.

Places are strictly limited and the content will not be as relevant for smaller eBay businesses - but if you're a Gold Powerseller or higher, and are looking to increase turnover and/or profitability on eBay then make sure you attend!

Hope to see some ukbusinessforum'ers there!

James.

p.s. PM me if you plan to come along

 

[JamieM]

Wow 0-£900,000 in first year then it takes 2 extra years to make the extra £100,000 you must be resting on your laurels

pre-hapse you would like to post your ebay name

Chris the £900k was turnover in year one. But the £1m is profit after year 3, possibly cumulative.

Allegedly.

There is no chance he's gonna post his user id is he?!

 

[Chris Ashdown]

Oop's missed that word profit

Sorry

 

[ukbrownie]

The best way is to start off usibg ebay and then after you got some customers you open your own site or company. Look at Target Tech Malta! Instant millionaires and they sell cheaper than ebay as they don't have any charges

 

[Allan123]

Haven't read the whole topic, but the combination you just put down Paypal/Ebay fee's are well out.

When you gain Powerseller status your fee's become less for listing, as do you Paypal fee's. Also when you have a shop you list for example ''Good til canceled'' and sell as many units as you like off the same listing.

Ebay has doubled my turnover in the last 8month's so it's a superb source of revenue. Okay we make approx 6% less than we do in the shop, but that 6% is usually the kind of discount we give anyway as people always haggle face to face.

 

[irobo]

I too fed up by selling things on ebay but no profit

 

[dingbat]

The guy mentioned in the Sun article has turned over 3.5 million but they don't say what he has in his pocket.

I'm on ebay and it's very hard work. If it wasn't for people selling stolen goods and those who avoid tax, ebay would lose half their business.

Back to the original point - Yes, I'm sure you can become a millionaire on ebay but it's certainly not easy....well, via the legal route anyway.

 

[JGOffshore]

I know a few ebay sellers that make money from postage (they send their items using their employers postal service/budget (larger corps)) and a few others that sell their employers stationery and some even sell their employers printer toners...

That is of course highly illegal.

eBay is of course becoming far to dictatorial though I don't find PayPal particulary bad. Some people complain that PayPal costs are too high (but they are cheaper than having your own mercant account for most people) and that they delay payments. However once you have built up a relationship with them you will find they don't do this.

As to these eBay millionaires. There is one guy who claims to have made over a million but his company accounts (at Companies House) show a turnover of less than £100k. That's turnover, not profit. Either he is scamming the public or he is fiddling his taxes!

There was another guy who use to list his profits by showing a bank statement with cash coming in. He claimed the total was his profit. What he didn't show was the other account with all the costs, which were about 60% of the income. Remember "sales price less purchase price less administration costs = profit".

Large pinches of salt all round

 

[BeautyScientist]

go to a car boot sale and buy some collectables for under £1.00 sell them on ebay at £25.00

To become a millionaire you would have to repeat that process 4 million times. That's a lot of car boot sales and trips to the post office.

 

[ukbrownie]

know a few ebay sellers that make money from postage (they send their items using their employers postal service/budget (larger corps)) and a few others that sell their employers stationery and some even sell their employers printer toners

Why would anyone do this, the simplest way to make money and you don't have almost any risks involved is to use drop shipping companies(like the example I made before Target Tech Malta)(You have to make sure these are not scammers!!) It's hard to find legit drop shippers. Always try them out yourself first by buying cheap stuff. And look for the obvious like PAYPAL checkout not MONEY TRANSFERS or WESTERN UNION. Make sure their address exists bla bla bla

 

[pacedun]

Why would anyone do this, the simplest way to make money and you don't have almost any risks involved is to use drop shipping companies(like the example I made before Target Tech Malta)(You have to make sure these are not scammers!!) It's hard to find legit drop shippers. Always try them out yourself first by buying cheap stuff. And look for the obvious like PAYPAL checkout not MONEY TRANSFERS or WESTERN UNION. Make sure their address exists bla bla bla

And their email or website address are not numbers that they can change to different numbers after they take your money (like the post above me)

 

[fred1222]

That is of course highly illegal.

If there was different levels of legality I think it would be classed as lowly illegal or at the very most middle illegal.

I would say Murder is highly illegal.

 

[Allan123]

To become a millionaire you would have to repeat that process 4 million times. That's a lot of car boot sales and trips to the post office.

4 million times?

40,000 times.

 

[mobyme]

To become a millionaire you would have to repeat that process 4 million times. That's a lot of car boot sales and trips to the post office.

Yep. I would definitely get another calculator. I understand that you can get one quite cheap on ebay.

 

[flood]

Haven't read the whole topic, but the combination you just put down Paypal/Ebay fee's are well out.

When you gain Powerseller status your fee's become less for listing, as do you Paypal fee's. Also when you have a shop you list for example ''Good til canceled'' and sell as many units as you like off the same listing.

Ebay has doubled my turnover in the last 8month's so it's a superb source of revenue. Okay we make approx 6% less than we do in the shop, but that 6% is usually the kind of discount we give anyway as people always haggle face to face.

As far as I know...
fees stay the same when you are a power seller for listing, Paypal fees stay the same. Yes you get GTC listings, but you pay through the nose for a shop to have this privilige.

 

[adam]

Making a million FROM ebay or USING ebay as a tool for an otherwise viable business?

Big difference!

 

[BeautyScientist]

whoops - yes 40,000 times. But you see my point....