If you're broke and need money, might I suggest Ebay?

I posted this suggestion in another thread and thought I'd start it's own thread. A couple of years back, me and my wife were between jobs and needed some bucks.

We started selling on Ebay. How'd we do it? Yard Sales, etc.

First thing, you need to research Ebay and see what's selling and for how much.

Clothing at yard sales was our biggest sell on Ebay. At yard sales, look for designer clothing, (Kids Clothing preferably) like Gap, Baby Kosh, etc. The return on investment is usually about 400 percent. Another words you buy a piece for a buck and profit about 4 times what you paid for. Plus...add a buck extra for shipping and you've made a very nice profit on one item. Now you may ask, but that's only 5 bucks? OK... But imagine selling over 20 items @ 5 bucks...that's a 100 bucks.

Other items we had success with...Hooked on Phonics kits. We found them at yard sales for 15 bucks and sold them for over 100.

Like I said, research Ebay extensively. If you see something at a yard sale or a store that looks like you might make a profit on the resell, tell the seller to hold it, go home and check the going price on Ebay.

It takes work to sell on Ebay, especially with shipping...but if you're broke and need the Benjamin's, this is a good way to make some.

Thank you for sharing it with all of us! :)

Your experience of several years ago is not what is happening with Ebay today.

I know several people who are now losing money who used to earn thousands on EBay. Myself included.

The garage sale seller, the flea market seller...they have all marked up their items substantially because you know what? They know about EBay too...and in many cases they have already tried and failed to sell the item there.

Unless you have some special knowledge, and sometimes even if you do, it's a good way to lose money now. The fees are higher, yet the bids are lower, and there isn't any room for profit left in the middle.

Which is true of any endeavor. And special knowledge can be learned. Tru's suggestion of researching Ebay to see what's selling best is a good one. That's obviously the first step. If there doesn't seem to be any opportunities in any areas that you have special knowledge, or that are not interesting enough for you to learn what's necessary... then yes, EBay is a difficult place to earn a living... much like the rest of the job market. It is however, an option that deserves some consideration.

They now write the prices in permanent black marker, and have started marking up the stuff they didn't used to. Methinks someone got the internets over there and is doing just what you said.

keep it a hobby. don't try to have ebay be your primary income source, because then you have to actively LOOK for stuff to sell. i just go about my daily business, which includes hitting garage sales and auctions when i can, and keep my eyes open for out of the ordinary stuff. the key is to have at least a slight knowledge on a wide variety of items, like mentioned above, research things that you find that are interesting, i scored that way, at a weekly auction that sells stuff siezed from storage units, i saw what to most people was an old electronic keyboard, ran home, did a little internet research and found it was a very desireable analog synthesizer from the 60's worth several hundred dollars, i ended up paying $7. shoot for a few items with maximum profit potential, rather than many items with slim profit margins. let a few items sit for a while, then when you need a few hundred extra $$ unload, then you take it easy for a month or three while you recover from the idiotic questions every seller has to deal with!

As I responded in the other ... I've often considered it myself, having seen it work for a friend of mine. It takes effort, but what job doesn't? Now you've got me thinking about listing my record collection... hmmm...

where people are beaten down and discouraged with the prospect of making any money. Sure Ebay poses risks and I'm not suggesting that you rush right in and start selling everything and anything. The costs have gone up on ebay and there is certainly more competition. BUT...If you're careful, and know what your profit margin is going to be on an item, you win. Research before you dive in. MHOP

get started by selling off any excess junk from your own home that you don't use. That'll help you learn the ropes and decide if you want to go the route of buying stuff to resell it on a grander scale. :)

I've had luck selling books on amazon.com too..you set the price, make sure you include enough for shipping costs (media mail) and the % that Amazon takes out. You can also sell CDs, VHS, and DVDs..

Side-note--there's actually a place here in town that helps you list and sell your Ebay stuff. :wtf: Good entrepreneurial idea, but it's pretty easy for people to do on their own..

So far, it's been pretty good. I had my boyfriend take some awesome pics for me when he was up visiting last month. And we are the best packers on the planet (she says modestly... we sell china and crystal) so we've been doing okay. It helps during the slow months, that's for sure.

My biggest complaint is that some people are so clueless... they don't read the descriptions at all, but we politely field their questions. We have 100% positive feedback and offer a money-back guarantee, which has helped. I've also bought a lot of stuff on eBay and have been burned a few times there, but selling has been pretty good.

I'm glad you and your wife were able to get some cash from it, sounds like you did it right and researched everything. Good for you. :thumbsup:

Believe it or not. My wife buys good condition breast pumps at rummage sales for $20-$40 and resells them for >$100. She has resold more than 10 and made close to $700.

or do you do your own auctions, shipping, etc.?

I know HTML so I was able to make my auctions really eye catching...it helps.

I did all my shipping and I do have to honestly say, shipping can be a pain in the ass especially if you let your orders build up.