Selling and Making Money On eBay - The Top 5 eBay Selling Myths

Everybody wants to make money on eBay whether a small time seller or a eBay veteran. The amount of advice on how to do this is endless. The truth is a lot of the advice out there is false and can actually damage your business. These are the top five eBay myths:

Myth #1: Look At The What's Hot On eBay Page For Ideas Of What To Sell

Wrong. Unless you have a wholesale supplier of new PS3s, iPads, Gucci Handbags and other big-ticket items then this list is useless. Plus most of these hot items are selling for about 20% less than the MSRP. So you would have to have a very good supplier to turn a profit.

Myth #2: Drop Shipping Is An Easy Way To Make Money

What is drop shipping? First drop shipping is basically getting paid to sell someone else's item. You get a list of items that a company wants to sell and their wholesale prices. You chose ones you think you could make a profit on. You list them on eBay. If they sell they ship from the drop shipping Company's warehouse and you keep the difference between their price and yours. There are many problems with this one. Most importantly you have no control over what the drop shipper does, they may never ship the item or constantly have it on back order. The buyer will blame you and you will get the negative feedback. Problem number two, a lot of these items are cheap junk, that is why the drop shipper doesn't simply list them themselves because the majority will not sell.

Myth #3 You Can Find Inventory Using On-line Liquidation Auction Sites

Perhaps you could if you can find true liquidation items from a reputable company. What I've found is Companies selling defective or returned items for near MSRP. People preying on those who are desperate to make a quick buck. Whatever you do avoid liquidation.com, this popular site is a scam. Beware of big-ticket items on sites that offer no buyer protection.

Myth #4 You Can Build Your Business Around Garage Sales And Thrift Stores

Sure you can find some steals at these places but you have to know what you're looking for and sometimes you may leave empty-handed. For example many thrift stores have books for 0.99 cents it may sound like a good buy but only a few of those books will sell online knowing which ones is the key. Also you can sometimes find old electronics but they may work and may not. Only someone with the time and ability to repair them would want to buy them. The point is if you want many items you need a somewhat reliable source for products you can sell at a profit. While these are sources they aren't always reliable.

Myth #5 Sellers With Higher Feedback Can Get Higher Prices For Their Items

This is a myth perpetuated by eBay themselves they keep emphasizing that all sellers must have great feedback. Most buyers though know that eBay will pretty much side with them in any dispute so there is not much risk in buying from a seller with low or negative feedback. Price is still the determining factor for most eBay buyers. The lower the price the better.

Don't fall for these myths anything that sounds too easy probably is do research know your products calculate your profit margin and keeping listing.

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Make a Load of Money in Storage Auctions

Whether you are looking for a job, on unemployment or currently working at a job that you detest, buying and selling storage units at auction is an opportunity for anyone that is looking for a new way to make very good money with very little work and investment.

This is what storage auction is all about: buying low and selling high. No other money-making scheme is better than that. You can make a lot of money fast with the least capital and even with a smattering of business knowledge or experience. Pick up your local newspaper and look in the back at the public notices during any given week and you will find many public notices about your local storage companies getting ready to auction off the contents of the units in their facilities.

Storage units sometimes go for under $100, sometimes they can go as high as a few thousand dollars, but you can easily get started making money with mini storage auctions for around $300. If you know how, it's your pennies on the dollar of the cost of the contents of the storage units. You can then sell the contents of the storage units for as much as five times of the amount you paid for. And do it fast.

This is the beauty of storage unit auctions. You can buy goods at incredibly cheap prices for the simple reason that their owners had no more use for them. Once you got the items, you can sell them for half of their current market value and still make big profits.

When you buy items at such low prices you can afford to sell them for half of their value and this allows you to move your inventory at a fast clip and make a profit pronto. In the process, the cash flow is steady such that you can buy more storage units until you build up your bankroll.

To get into the action, all you need to do is see where you can find the latest listing of storage auctions in your area. There are over 2 billion square feet of available storage rental space in the U.S. and growing. This means that more units will be subject to auction due to non-payment or abandonment.

The reality is that anyone can attend these auctions, but only a few know how to consistently profit from them.

Whether you are just bidding for yourself or putting a team together to bid and sell items you win at the storage auctions as a business, great things are in store for you. You can't lose in this nascent business because there is no competition in the true sense of the word and there is as yet no saturation to speak of.

A trick of the trade in this industry is the preference for the income class where a storage auction will take place. You look for auctions in middle-class suburbs where there is more promise of profit. There is no bargain in both lower and higher income areas.

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