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Secrets of the eBay Millionaires
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FIGURE 4-2 This seller is constantly researching and educating herself so she can sell more effectively.
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As Melissa indicates, the more you know about what you sell, the better off you are in many ways. First, you ll be much more likely to purchase merchandise that people will actually want. You ll know if a pair of shoes has the original sole on them or has been re-soled, for instance. You ll know if that doll is a remake or an original edition. Second, you ll be able to write descriptions that have more informative details of the sort collectors love. Third, you ll know what constitutes a reasonable reserve price or starting bid, because you ll know what the item is really worth.
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How Melissa Sands Takes Advantage of Multiple Sales Venues
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Like Melissa Sands, most PowerSellers on eBay don t work in one place. They sell not on one version of eBay, but on two or more of the international
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CHAPTER 4: Think and Act Like a Businessperson
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If you re already online and on eBay, you ve got some research tools at your fingertips. Simply researching eBay s completed auctions and reading other sellers descriptions can educate you about what s hot and what s not. If you re interested in selling antiques and collectibles, as Melissa does, don t forget other online resources such as Kovels Online Antiques and Collectibles Price Guide (http://www.kovels.com) and Antique and Collectible Mall (http://www.tias.com), which contains links to many authoritative web sites on antiques. But there s no substitute for purchasing antique price guides and studying them at home in your spare time which, by the way, you have to work to create, in order to learn more so you, too, can become a PowerSeller.
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versions of the site. They don t just put multiple items up for auctions. They also sell through their eBay Store, or through a brick-and-mortar store. And they have About Me pages free web pages that eBay provides to all of its users and on which they can explain more about who they are and what they buy and sell on eBay. Sellers can make a link from their About Me page to a web site. Melissa Sands business web site looks like her eBay Store (shown in Figure 4-3) because it uses the same logo and colors; the consistent presentation helps her build her business identity online. Her web site (http://www.sands-o-time.com) contains information about yet another sales venue: her brick-and-mortar store, where visitors can get appraisals and purchase items from this busy seller. Other changes are less dramatic: PowerSellers change product lines,
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You ve Got to Be Flexible and Ready to Change
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One of the great things about doing business online is the ability to stop on a dime and take a totally new direction without incurring excessive overhead costs. For Melissa Sands, the change came when she purchased a former antique store and opened up a physical business facility. For some former brick-and-mortar store owners, the change came about when they started to sell in volume on eBay and realized they were finding more customers online than they ever could in their brick-andmortar antique store. They closed the store, rented a warehouse where they could store the merchandise, and became PowerSellers.
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find new suppliers, open new stores, and generally focus their business in
Secrets of the eBay Millionaires
FIGURE 4-3 An eBay Store can point to a web site, and vice versa, to gain more attention for your sales.
new directions as the market changes. That s one important feature about a business plan: it isn t written in stone, and can be changed to fit changing situations. Rather than going from one sale to another and buying single items that seem likely to sell on eBay, Melissa Sands buys up entire estates. It s more work hauling everything back and selling one item at a time, but she doesn t have to go out so often. And now that she has a brick-and-mortar store, people come to her with merchandise to sell; she doesn t have to go out looking as much as she used to. It s just one of many approaches that separates professional eBay sellers from amateurs. Some others are illustrated in Table 4-1.
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