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14 Tips to Help You Make Money From eBay And Amazon

There is always a learning curve in any business and eBay and Amazon are no exception. Like most new business owners, I faced teething troubles. Worried about situations that I thought were unique to me, I spent many hours searching for answers to problems that I believed would jeopardize my business then and in the future. It happens to everyone and a little later we all look back on those days and wonder why we worried so much, why we wasted time looking for answers to problems that really weren’t that important – back then! Worry wastes time, causes stress. This is worry and anxiety that you don’t have to suffer based on the advice I’m about to give you now.

Tips to help you start making money on Amazon and eBay

1. I was worried that I knew too little about the kind of books that would sell profitably on eBay and Amazon. I was particularly concerned about spending money on items that I would later have trouble selling. Today I know that the best type of books to buy are usually niche subjects, maybe a little vague in content. This is because in most cases these types of books will have low editions and thus quickly become ‘rare’. This is because, not only do many specialist titles have lower print runs than mass market books, they are also likely to be retained by their previous readers, many of these people are enthusiastic about the subject and this also means that fewer copies they find their way to the secondary market. The secondary market, by the way, is the fancy name for ‘Second-Hand’.

What I’m really looking for are modern books in good condition, usually with an ISBN number (10 or 13 digit number above the barcode on the back of the book). Non-fiction is always preferred, but I’m usually looking for up-to-date fiction books in very good condition, as those are my bread and butter sales. In most cases they will only charge 1p plus p&p but as I sell in volume (over 100 a week) I pay an average weight with reduced shipping rates from Royal Mail.

2. As a new Amazon seller, I would advise you not to start buying fiction books or popular fiction as they tend to sell at a low value on Amazon and profits will tend to be small to non-existent. When I first started on Amazon, I wouldn’t buy books ‘blind’ (buying blind is what I refer to as buying books without first checking if they have value on Amazon) unless they were under 50p and non-fiction. If I couldn’t make a decent profit selling the books on Amazon, then I would sell them on eBay, with great success. You’d be surprised how many books I’ve sold for high profits, say 8 plus p&p, even though the same books are listed on Amazon for 1p plus 2.75 p&p.

In most cases, buyers do not shop from site to site, they do not compare prices, there may also be more competition for a book on eBay than Amazon, and therefore higher prices are achieved on the auction site. I also find that author signed books command much higher prices on eBay than on Amazon, so there is another opportunity to buy low on Amazon with the expectation of higher prices at auction.

3. Don’t put all your eggs in one basket, especially in these uncertain economic times. I keep my eBay account month to month, mostly for autographed titles and rarer titles that generally fetch more from eBay than Amazon.

4. Although eBay and Amazon have much in common, there are significant differences in operating methods that allow sellers to make more money from certain items on one site than on another. There are things you can do easily on one site that you can’t do so easily on another. For example, eBay’s auction site is very different to how Amazon Marketplace works with set prices. Amazon has no listing fees, so you won’t be out of pocket for items that don’t sell. Amazon only gets paid when a product actually sells. This is great news for people working on a tight budget, and I highly recommend Amazon to anyone who is laid off or finds their income reduced due to the recession.

5. Get your supply from charity shops. As well as selling books, most charity shops have a wealth of unusual goods that you can buy relatively cheaply to resell. In fact, many cheap goods on charity shop shelves are of decent quality and are perfect for selling on eBay.

6. Reference and study books are very popular on both sites, but on Amazon older edition copies can be quite difficult to sell for a decent profit due to the sheer number available and the fact that newer editions have superseded them. On eBay you really need to consider listing fees before listing anything you’re not sure will sell.

7. Study books can be quite heavy and increase shipping costs that cut into profits that you can’t pass on to buyers. This is because Amazon charges buyers a flat postage fee of 2.75 for books posted to UK addresses, so you don’t have any flexibility with shipping costs. To make any sort of profit on the selling value of your book 1p plus 2.75 p&p your postage needs to be kept low, not something that can be done with a 1kg study book costing 4.20 to post.

8. Sell older edition study books on eBay that are unaffordable on Amazon. I usually start with an asking price of 2.99 plus an associated p&p charge (be sure to quote appropriate postage for heavier books).

9. Use eBay in other ways, such as for books that are unlikely to sell individually which I package in lots of 500. I auction them on eBay with a starting price of 9.99 and emphasize that they are for collection only. I usually get between 30-50 per batch of work. Ok, not much, but I’m using the proceeds to buy better stock and that’s better than throwing it in the recycling bin.

10. Create smaller jobs with multiple books of similar genres. For example, I often combine four Mills and Boon romance paperbacks and regularly get 5 or 6 for them. They have a relatively low weight collectively and I have sometimes sold three or four lots to a single buyer. It also works to group titles by the same author. Authors like Catharine Cookson and Danielle Steele are often hard to make a profit on per sale, but can sell well in lots of two or three.

11. Sell books withdrawn from libraries on eBay. When posting books, every gram counts so if I remove the dust covers it makes the books lighter and saves on shipping costs. If I have bags of library covers, I size them up and sell them in packs of 10. Buyers clip them to 10 for 5.98 and that’s all a net profit since I’ve already made money off the books themselves.

12. Look for items with a common theme that can fetch very good markups. In car boots and charity shops I look for items that I can combine to increase their novelty value. There is another profitable trick here and it has to do with grouping related items, but not just books and videos. I’m also looking for jigsaws? videos, ties, CDs or DVDs and group them. So, for example, a Titanic video will have a low resale value on its own, but bundle it with a puzzle and you can attract a collector of that theme who buys because it’s unusual or rare. I also have lots of china ornaments and pictures, paintings and photos in the same subject area.

13. Donate clothes to charity shops it ranges from common and cheap to rare and valuable, and many stores don’t differentiate between the two. And so you’ll find shirts from Asda’s George range right next to designer Charles Tyrwhitt shirts, both priced at £2 each. I button up the designer shirts and easily sell them for three or four times the price plus postage and packing. The same thing is possible with ties, again, mass market products can hide a designer gem. You can do this on eBay and Amazon, but always check past sales for similar items before deciding where to list.

14. Try to spot objects that look a little different. I often have a pun on cheap items just to look at. In one case, I spotted an old knitting magazine that was useless but contained a free paper pattern for socks. I was amazed that I made 12.50 plus p&p (to America) for the sock design! Three people bid on it as it was a rare item and the price was high.

After all:

– Use both websites to their strengths and you will definitely earn extra income.

– Use whichever site fits your main business profile, but use the other one to generate extra income.

– Look out for good quality, unusual items in car boots and local charity shops, the items to look for don’t have to be expensive or ‘rare’ items.

– By all means play a little on cheap items. if you find yourself thinking ‘I wonder’, dip your toe in the water, it’s invaluable for building experience and confidence.

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