Ebay Sellers?

[Tigris]

Hi guys,

i'm looking to source more for my ebay account.

I have been looking at online auction sites selling ex-display, returns etc but by the time fees are deducted i'm finding me buying a £30-£40 item leads to very small profit (couple of pound).

I'm not sure if this is the best way to source really?

 

[MBE2017]

Or you could put your price up.

 

[Tigris]

Or you could put your price up.

Wouldn't be competitive then though and probably wouldn't sell?

Just wondering if people source that way or they have contacts who manage to get them the better deals etc

 

[Mister B]

Even if people do have better quantities, I very much doubt that they will share the information with you.

Both Amazon and ebay are very competitive marketplaces, where margins are notoriously low and fees are high. You may be wise to find a niche where, although demand is not as great, competition is limited. This should allow you to achieve an acceptable level of profit.

Mister B

 

[Tigris]

Even if people do have better quantities, I very much doubt that they will share the information with you.

Both Amazon and ebay are very competitive marketplaces, where margins are notoriously low and fees are high. You may be wise to find a niche where, although demand is not as great, competition is limited. This should allow you to achieve an acceptable level of profit.

Mister B

I'm aware people won't give me the sources directly but i'm just asking in general if people do buy from anywhere the general public can or if they have inside contacts as so to speak to get the better deals

 

[Mr D]

Focus on a particular area. Look at the trade mags for that area of business. Look at the trade association and see who the main players are.

Focus on a particular few suppliers for your core business, then look at other sources.

Auction can be a good place for particular items, can also be some right dogs breakfast stuff - you need to know the value you can get for something to see if its worthwhile.
I'll ignore probably several hundred items at auction before finding one I like - and 90% of the time the price goes beyond viability.

 

[paulears]

I'm being bombarded with ebay emails to setup managed payments. I need photo ID bank statements and have to give ebay access to my bank account. I'm quite happy with the way it works at the moment, and frankly don't see why I have to provide this information and access when they take the money, and then give it to me? I assume they want to make sure in these dodgy times they get their excessive fees on time. Nobody seems to be complaining so maybe their statement that most people will save money from the new system is accurate. I don't like giving people access to my bank account in this way. A bit like giving an open direct debit to people you don't trust that well?

 

[MBE2017]

If you are only making a couple of £ per £30/40 cost then you are not making anything like enough. Without knowing your products and sources little anyone can do to help you, but at the amount I would buy new and sell for double.

There is always a way to sell for more, better images, stock, service, advert, or normally a combination of all of them. Even on eBay today I could buy an item for £65 from a supplier new and retail for £180-210 easily. There are no magical sources, but there are way to many busy fools selling in over crowded markets.

Spend your time finding items that will make decent profits, and no, I’m not going to tell you what to buy or sell etc.

 

[alan1302]

I'm being bombarded with ebay emails to setup managed payments. I need photo ID bank statements and have to give ebay access to my bank account. I'm quite happy with the way it works at the moment, and frankly don't see why I have to provide this information and access when they take the money, and then give it to me? I assume they want to make sure in these dodgy times they get their excessive fees on time. Nobody seems to be complaining so maybe their statement that most people will save money from the new system is accurate. I don't like giving people access to my bank account in this way. A bit like giving an open direct debit to people you don't trust that well?

If you sell on eBay PayPal knows all your details...eBay are just bringing in the payment processing closer to them so they need details from you. There are plenty of people complaining.

 

[19ninety]

I'm being bombarded with ebay emails to setup managed payments. I need photo ID bank statements and have to give ebay access to my bank account. I'm quite happy with the way it works at the moment, and frankly don't see why I have to provide this information and access when they take the money, and then give it to me? I assume they want to make sure in these dodgy times they get their excessive fees on time. Nobody seems to be complaining so maybe their statement that most people will save money from the new system is accurate. I don't like giving people access to my bank account in this way. A bit like giving an open direct debit to people you don't trust that well?

Digressing a little...
Think the issue with fleabay Managed Payments will be more for businesses getting the top level discount from PayPal ... won't eBay now be getting that discount but be charging sellers a flat rate regardless of volume?
I'm glad only a tiny tiny % of my sales come via eBay, and I've been actively reducing the amount I sell on there, generally it's just the stuff I can't shift on my website or damaged/used returns. I even dislike buying things on eBay now... so much tat on there.

 

[Mr D]

Digressing a little...
Think the issue with fleabay Managed Payments will be more for businesses getting the top level discount from PayPal ... won't eBay now be getting that discount but be charging sellers a flat rate regardless of volume?
I'm glad only a tiny tiny % of my sales come via eBay, and I've been actively reducing the amount I sell on there, generally it's just the stuff I can't shift on my website or damaged/used returns. I even dislike buying things on eBay now... so much tat on there.

We do most of our sales on eBay. Probably spend a couple of hundred quid a month there too - there are some items it's cheaper buying there than from better websites with much more problematic order requirements.

 

[Tigris]

If you are only making a couple of £ per £30/40 cost then you are not making anything like enough. Without knowing your products and sources little anyone can do to help you, but at the amount I would buy new and sell for double.

There is always a way to sell for more, better images, stock, service, advert, or normally a combination of all of them. Even on eBay today I could buy an item for £65 from a supplier new and retail for £180-210 easily. There are no magical sources, but there are way to many busy fools selling in over crowded markets.

Spend your time finding items that will make decent profits, and no, I’m not going to tell you what to buy or sell etc.

Does this usually mean buying in very large quantities? I've emailed a few wholesalers within the niche I want to get into but with the obvious pandemic they are saying it can take a while to confirm accounts. I can't see pricing until the account has been setup.

 

[Mr D]

Does this usually mean buying in very large quantities? I've emailed a few wholesalers within the niche I want to get into but with the obvious pandemic they are saying it can take a while to confirm accounts. I can't see pricing until the account has been setup.

Look around your area. May find a wholesaler or two. Or dozens.
Places where you register then go when you want buying the stock. One I know has a minimum purchase of 25 pounds - easily met.

Wholesalers may well have dozens of suppliers stock for sale. Just be aware not everything can be sold on eBay.

 

[Tigris]

Look around your area. May find a wholesaler or two. Or dozens.
Places where you register then go when you want buying the stock. One I know has a minimum purchase of 25 pounds - easily met.

Wholesalers may well have dozens of suppliers stock for sale. Just be aware not everything can be sold on eBay.

Will do, thank you.

Looking at sellers within the same niche to see what they are selling on ebay as well. Appears some are getting unbranded stuff within the niche from abroad and selling (not always great quality and may not be good for the business name). On the other hand some are as private label sellers purchase the items. Primarily it will start on ebay but I aim to reinvest all profits and quite possibly have my own website as well.

 

[paulears]

I'm getting pretty fed up now - today they want a bank statement to confirm my details. They take their fees and charges via PayPal, and have never missed a beat, and yet I keep having to provide more and more information. Why does it matter which account I use to pay them - and Santander have on my statements my name, followed by "trading as" my business name. This nearly matches my ebay username - but I wonder if they'll notice the user name is the first letter of the words in the business name? Probably not!

I really don't get what advantage to me all this rigmarole and private information providing actually is? Selling on ebay is risky, prone to crooks, and expensive - yet now they want access to bank accounts, proof of source and lots of information. I don't get it? What have I missed?

 

[Mr D]

I'm getting pretty fed up now - today they want a bank statement to confirm my details. They take their fees and charges via PayPal, and have never missed a beat, and yet I keep having to provide more and more information. Why does it matter which account I use to pay them - and Santander have on my statements my name, followed by "trading as" my business name. This nearly matches my ebay username - but I wonder if they'll notice the user name is the first letter of the words in the business name? Probably not!

I really don't get what advantage to me all this rigmarole and private information providing actually is? Selling on ebay is risky, prone to crooks, and expensive - yet now they want access to bank accounts, proof of source and lots of information. I don't get it? What have I missed?

Why are they asking for this information?

Have had to do that with PayPal to verify account, not with eBay.

 

[alan1302]

Why are they asking for this information?

Have had to do that with PayPal to verify account, not with eBay.

It's for their new payment provider

 

[paulears]

I wonder what happens if I don’t bother to give them the time info?

 

[Mr D]

It's for their new payment provider

Oh what fun to look forward to. Having to increase prices due to increased payment processing costs by quite a bit....

The fun of working out new costs then repricing 1500 items.

 

[MBE2017]

Does this usually mean buying in very large quantities? I've emailed a few wholesalers within the niche I want to get into but with the obvious pandemic they are saying it can take a while to confirm accounts. I can't see pricing until the account has been setup.

No, but it might differ from one market to another. I rarely buy under £1k per order, but I get the same prices as long as I make carriage paid minimums with most suppliers, so £250 to £500 ish.

eBay has plenty of large fish on it, and in all honesty you will never get the rates many large companies do, so you need to find a product(s) you can make decent money on. Better to double your £100 per sale than make £4 on a £100 order. It’s not easy, everyone would do it if it was, but you need to sit down and do plenty of research to find products where you can do it.

 

[Tigris]

No, but it might differ from one market to another. I rarely buy under £1k per order, but I get the same prices as long as I make carriage paid minimums with most suppliers, so £250 to £500 ish.

eBay has plenty of large fish on it, and in all honesty you will never get the rates many large companies do, so you need to find a product(s) you can make decent money on. Better to double your £100 per sale than make £4 on a £100 order. It’s not easy, everyone would do it if it was, but you need to sit down and do plenty of research to find products where you can do it.

Just been declined from two wholesalers within the niche I wanted to sell within.

Sounds like they want me to have a physical store/building so I can't just list online and undercut other sellers who have physical shops with higher overheards. Which I wouldn't anyway as ide want to maximise profit. The search goes on. Going to start looking at importing I think.

 

[Mr D]

Just been declined from two wholesalers within the niche I wanted to sell within.

Sounds like they want me to have a physical store/building so I can't just list online and undercut other sellers who have physical shops with higher overheards. Which I wouldn't anyway as ide want to maximise profit. The search goes on. Going to start looking at importing I think.

So look for others in the niche who aren't so choosy.

Give it 12 months, those wholesalers will be far less choosy. Or they won't have many customers.

 

[MBE2017]

Sounds like they want me to have a physical store/building so I can't just list online and undercut other sellers who have physical shops with higher overheards

Quite a few wholesalers will have that attitude, I managed to convince a few that their physical shops were the ones dumping prices and not myself, and the Internet revolution was happening whether they liked it or not. Fortunately I approached the top owners at trade fairs, and became several wholesalers first Internet only seller.

That was over a decade ago now, but depending on the market many might still pander to the high street, but that is likely to be decimated in the next 2-5 years.

 

[Mr D]

Quite a few wholesalers will have that attitude, I managed to convince a few that their physical shops were the ones dumping prices and not myself, and the Internet revolution was happening whether they liked it or not. Fortunately I approached the top owners at trade fairs, and became several wholesalers first Internet only seller.

That was over a decade ago now, but depending on the market many might still pander to the high street, but that is likely to be decimated in the next 2-5 years.

In my experience its still the posh, higher end suppliers in any sector who refuse to sell to internet only.
One of these days I'm going to lease a 20 sq metre shop and add a hundred thousand new products to my selling.

Saying that, there's one supplier who won't allow their goods to be sold on the internet at all.
Stick their stuff on and they drop you as a retailer. They do however have selling areas - you buy their stuff you know there isn't another seller of the items within that town or small city.

 

[Deleted member 59730]

While on the subject of ebay. Can anyone explain how it is worthwhile selling items for very low prices but which are still above new prices. My product, which to some might be seen as a collectors item, sells in the shops for 40p. On eBay there are loads of sellers selling at £1.49. Why and how?

 

[AlanJ1]

While on the subject of ebay. Can anyone explain how it is worthwhile selling items for very low prices but which are still above new prices. My product, which to some might be seen as a collectors item, sells in the shops for 40p. On eBay there are loads of sellers selling at £1.49. Why and how?

I guess people don't want to leave there house?

 

[MBE2017]

While on the subject of ebay. Can anyone explain how it is worthwhile selling items for very low prices but which are still above new prices. My product, which to some might be seen as a collectors item, sells in the shops for 40p. On eBay there are loads of sellers selling at £1.49. Why and how?

Convenience and habit, laziness, the list can be extensive.

 

[Mister B]

Just been declined from two wholesalers within the niche I wanted to sell within.

Sounds like they want me to have a physical store/building so I can't just list online and undercut other sellers who have physical shops with higher overheards. Which I wouldn't anyway as ide want to maximise profit. The search goes on. Going to start looking at importing I think.

I have to ask the question. Do you have your own website and if so, how good is it?

If you look at it through the eyes of the brand owner/wholesaler, what's in it for them? You need to prove to them that you will promote their brand in a manner which they expect and that normally means through an established website. ebay and Amazon sellers are ten a penny these days and often simply drive the price down and bastardise the brand.

Mister B

 

[Mister B]

That was over a decade ago now, but depending on the market many might still pander to the high street, but that is likely to be decimated in the next 2-5 years.

I agree with this as well...but it's critical that retailers see their websites as the future extension of their retail premises. They shouldn't be sitting and moaning about the online revolution but embrace it and invest in a fully functional website.

The opportunity to make money is there but it's going to require an increasingly greater amount of dedication.

Mister B

 

[Mr D]

I agree with this as well...but it's critical that retailers see their websites as the future extension of their retail premises. They shouldn't be sitting and moaning about the online revolution but embrace it and invest in a fully functional website.

The opportunity to make money is there but it's going to require an increasingly greater amount of dedication.

Mister B

They should have been selling on their own website for 20 plus years.
Still some retailers that could not or would not sell online the day before lockdown started.

I say could not because its a different setup for a shop and not everyone has the staff or the space spare.

 

[Tigris]

I have to ask the question. Do you have your own website and if so, how good is it?

If you look at it through the eyes of the brand owner/wholesaler, what's in it for them? You need to prove to them that you will promote their brand in a manner which they expect and that normally means through an established website. ebay and Amazon sellers are ten a penny these days and often simply drive the price down and bastardise the brand.

Mister B

No I don't have my own website (yet). The aim is to generate some sales through online platforms which are already getting traffic then reinvest and launch my own site.

I did have a shopify store a couple of years ago and the cost to drive sales to the website was extremely high. I feel currently I need to actually get hold of the stock and start slowly.

 

[Mr D]

No I don't have my own website (yet). The aim is to generate some sales through online platforms which are already getting traffic then reinvest and launch my own site.

I did have a shopify store a couple of years ago and the cost to drive sales to the website was extremely high. I feel currently I need to actually get hold of the stock and start slowly.

Cost likely won't have gone down since.

 

[Tigris]

Cost likely won't have gone down since.

It was a drop shipping business model as well and people were having to wait 6 weeks for there order. Not ideal with Amazon offering same/next day delivery.

Currently looking at a second product for my private label business but that's another story, lol.