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Is Opening An Ebay Store Worth While?

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pocket change 50's Avatar
Canada
1751 Posts
 Posted 12/01/2014  5:20 pm  Show Profile   Bookmark this reply Add pocket change 50 to your friends list Get a Link to this Reply
Here's my experience prior to opening my store last nov. I was lucky to sell $100 monthly. Last nov. I opened a basic store my sales climbed to $1000-$2000 gross monthly. I got all kinds of free listings promos and they kept increasing the amount I was allowed to list. I topped out at 450 listings with a value of $35k. This fall I ran into bad luck with returns and refunds. Now under the new defect policy I'm limited to 30 listings at $3500.
I ended up with below average status, even though I have 100% feedback and no neutrals. I'm unsure how to turn my sinking ship around!! Nov I only sold 5 items and one was for a friend. It sold at $1150, so he was stoked.

It seems a store gives more credibility and you get 150 listings for basic. They also include fix price which works wonders for me coupled with offer. I suck when it comes to auctions. So also consider if Bin will work for you. You can also run sales. I used to do a 10% off sale every other weekend. The reports are great tools. So if your selling at minimum $300 monthly try it. Do go on to month by month, so you can close for any reason.
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Pacificoin's Avatar
Canada
5400 Posts
 Posted 12/01/2014  5:35 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
BIN are the way to go on ebay.............................auctions are passé. It is all about instant gratification. If you have a reasonable BIN with offer it will sell. Auction buyers tend to be a totally different type of buyer, than BINNERS. The only auctions we run now are where we just have NO clue as to a proper valuation (ie an oddball collectible , token, or medal) . All the rest of the gear in our ebay store is BIN/Best offer. Today if you are doing auctions on run of the mill stuff , the outcome is getting your backside handed to you on the way out the front door. The results are NOT pretty.
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jdmern's Avatar
United States
1949 Posts
 Posted 12/01/2014  7:13 pm  Show Profile   Bookmark this reply Add jdmern to your friends list Get a Link to this Reply
I agree with the gist of the statement that buy it nows are the way to go with certain exceptions- On fairly obscure stuff, you can do great if you get two people who both want the same item... On the other hand, if only one person wants it, you are going to be a bit disappointed... The way I look at the auctions I do, I'm happy if I get back what I paid after fees... It ends up being more of a way to get some money flowing in as an auxiliary to the normal buy it nows...
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pocket change 50's Avatar
Canada
1751 Posts
 Posted 12/01/2014  9:26 pm  Show Profile   Bookmark this reply Add pocket change 50 to your friends list Get a Link to this Reply
Great comment Pacific, my bins do well. Auctions I start at my minimum except able price and they are seldom successful first time out. I do auctions when the free promos come out. Always setting the price where I'm happy. Anything over is gravy. Only using auctions, I'd burn true my free allotment in no time, with little success.

Pacific I laughed so hard reading your comment regarding auctions!
Watch the coin auction on Saturday in Quebec , was very interesting! The Nclt opening bid was high, while many bids on circulation coins started at $5. I also noticed roughly 75% of opening high bids went unsold, no matter type of coin or banknote.
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