1. Chat

Making Money Buying and Selling Online! How to earn some extra $$$

Money Saving

I wondered if anyone on here was interested in buying and selling! Whether you were thinking of trying it, or are currently doing it! I thought it would be nice to have a post where people can chat about their ideas and advice to help one another out!

I have been buying and selling since age 13 and it's a fantastic way to make an extra income on the side. The greatest part? Anyone can do it! Whether you want to spend 24 hours a day, or just 24 minutes!

By keeping an eye out for trending products, you can strip back to basics - buy low, sell a little higher! A nice little side income in times like this where people could I'm sure use the extra cash!

If any one wants advice on where to get the products, ideas for how to find out what sells, or where to sell! Ask away and I'll be here to chat about it!

I know people have made thousands and even millions from buying and selling - the possibilities are endless!

Selling online can become a serious increase in income! I've earned more on eBay than my full time job paid.

Any questions - Fire away! 😀

joshs123
over a year ago
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joshs123

As a starter - has anyone ever thought about selling online but had their doubts?

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lornaae

I’ve thought about it - particularly buying things in bulk and reselling them. It’s mostly the storage issue that I’d have I think, I don’t have a big enough or spare space to store and sort. Where do you buy from and then sell on? Is it the same place or do you buy from somewhere and sell from somewhere else? I’ve thought about finding places that sell in bulk to buy from and then selling on eBay

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G0501

I thought about it but do not have storage space, am unsure which products would sell and would be scared to be left with a big stock no one wants. And I'm not aware of the easy way to post all these items, how do you do it?

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joshs123

lornaae Thank you for the reply! I buy from absolutely everywhere, and I sell primarily on eBay but I also for some products sell locally on social media - but this isn't my favourite method because many people will let you down, mess about saying they'll come collect things and not turn up. eBay is really great because you have a platform with visitors already, and yes there are fees but I think I wouldn't make as much money without them.

The BIG Question is where and what to buy. My advice is forget what you enjoy or like, but focus on what sells. I start buy looking online at what deals can you get a hold of - these deal sites are great to find cheap priced items and now with all of the sales going on - companies are really trying to shift their products at amazing prices. I think you being on these deal sites means you are halfway there because this is one of the best tools to finding popular products, and also cheap products.

The Process:

Here's the process of steps I take -

Spend a little time each day searching the new daily deals, websites that you may use personally to buy goods check out their offers - If something stands out as a great price, enter the details into eBay and see if it's selling.

The main focus is on the quantity sold in the past month - if somethings selling 50 a day and you can match or undercut them - BINGO! that's one to consider.

For me, I am a young adult still living with my parents and so space is limited - but even with buying goods from china, I simply have a small corner of the room stacked with some boxes and space is really not a big problem!

I personally am buying regularly but I also am shipping stuff out as fast as its coming in so I don't end up with masses of stock!

My advice would be to keep it simple - check out what things you can buy are selling for on eBay and other selling sites, and you may find that you can make an easy tenner from just one product you find at the local shop!

The more aware of what's selling on eBay, the easy it becomes!

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joshs123

G0501 I would suggest trying out not buying mass stock, buying a handful of items that you could sell for a small profit! My first purchase was a casio watch on sale at £60 and I sold it for £75 - still about £80 below retail. I noticed the item in the sale, typed it into eBay and noticed they were selling regularly everyday at a higher price than what I could sell it at so I listed it and sold it within a few days! Its a little effort for £15 but its £15 more in your bank than yesterday!

For posting, if you get familiar with royal mail they have a price estimate online where you enter the size and weight and it tells you a cost. Expensive items are more costly and need to be insured, cheaper items that are flat are super cheap and easy to post.

Because I sell a fair amount daily I purchased bubble bags from eBay about 10p per bag and I bought a box of 100. These fit most items that I sell and they are small enough to send as a large letter meaning its only 88p to post 2nd class!

You can buy postage bits from the range, from local supermarkets or post office! Its more costly than buying in bulk but to start off with it saves you buying lots of stock in.

Also - buying from the sales - retailers, popular online stores you have a money back guarantee so therefore you can return all your items if they don't sell! meaning there is little to no risk.

Buying from China I purchase about 100 pieces at say 60p each so I'm investing £60 - I will accept that I may lose this money, but that's why if you do your research first, make sure you have a product that you're sure is selling regularly - then list that product on all the online sites, eBay, Etsy, facebook, share on your socials, make it look nice - use their stock images, and get it out there!

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lornaae

joshs123 wow that’s really great advice, it feels like a much more accessible idea knowing that you’re doing it without much space for storage and just shopping around for deals and seeing what’s selling. Thank you for your advice and this chat thread 🙂

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joshs123

lornaae you’re welcome!! I’m glad you found it useful! I just think for those who are interested, just being more aware of the Possibilities and of products that are selling can really get you some extra cash! it’s like having another job on the side but you’re the boss and it doesn’t take up your entire life - it really can pay extremely well! 😃

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lornaae

joshs123 yeah you certainly have made it seem like a more doable idea! I think I will give it a go but start small and see how it goes. Thank you again 🙂

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MrsCraig

I sell stuff online, but not as a business, just stuff that I'm clearing out, that we don't need anymore or my son has outgrown. I do it just to get a little money back on items, but I've never done it to make a profit. I buy things 2nd hand online, but again it is clothes or toys for my son so that I save some money.

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joshs123

That's fantastic! I started off selling bits and bobs around the house to make a little extra cash, but then started to look deeper into how I can acquire more things that I can sell because I really loved the selling!

If you have the time and patience to sell things then it's worth maybe checking out what you could buy just at the local shop or from an online retailer to sell for a nice profit because with these crazy sales, you can buy low and sell for a small profit quite easily!

I think it's great that people are selling stuff to clear out ! Many people don't realise how much money is in things that some would just throw away. Of course as well I'm a big fan of recycling and giving products a new home so that's really awesome to hear ! 🙂

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MrsCraig

joshs123 I'm not looking to buy and sell stuff to make a profit from it. I don't have the time. I do it just to get a little extra back and to give stuff a new home.

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joshs123

MrsCraig That's understandable! and a great idea to give something a new home that's awesome 😁

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Nino786

I had a little side business a few years back, My supplier had a shop and would supply me. The issue i have always had is supply.

Would be great to have a chat some time Josh and share some ideas.

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joshs123

That's awesome! I think supply is really the big question for everyone on the e-commerce sales end. I think once you've thought about products you like/enjoy/know about personally, trying to latch on to TRENDING product is really a big factor in knowing what's selling.

Right now supply is super easy to get from almost every shop/supermarket/online store even just everyday ones that we purchase goods for ourselves!

My advice to others above goes into more detail, but I think trying to find out what products are out there in the sales that you can get hold of, and price checking them on eBay can really be eye opening and you will start to see the $$ signs when you notice how you can acquire these products far cheaper that they are selling on eBay!

And Checking how many are selling each day gives you a great indication of if these are FAST sellers or TRENDING products.

I'm always eager to chat with people and hear from your experiences! I'd love a community whereby people can share their thoughts and experiences to help and guide one-another.

It really is something everyone can do so with a bit of chit chat, I hope that people can make a bit of money!

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LordUnbox

Hello joshs,

I have sold some stuff in my youth during a time there was a big craze about a specific band. My system was not totally autonomous so I dropped it but made good profit margins (IIRC 300%-700% the initial value as they were small valued items).

- In what quantities do you buy?

- What are your highest and lowest profit margins?

- Are you selling locally or nationwide?

- Are your suppliers from the 2 known websites in China?

- Do you post? If so, what service do you use?

- Do you run an excel/software to track inventory?

- Do you run marketing ads on facebook/instagram?

- Do you take payments in paypal/cash only/card?

- Which categories give you the most profit?

- Do you advertise in depop/gumtree/shpock?

- Do you thrift?

- Do you send email/sms lists with new arrivals/stock to previous customers?

Those are my questions!

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joshs123

Hello LordUnbox ,

Thanks for the awesome reply!

That sounds amazing that you were able to catch on to those hot selling products at some amazing profit margins!

To answer your questions:

- In what quantities do you buy?

This depends on the product. If I am buying a product that is generic and cheaply made in China I typically buy around 100 - 200pcs to start off with. For example, skipping ropes, cotton face masks are cheap to make in China compared to in the UK and also readily available so I buy in bulk, get a good price and sell for a little more.

When buying products in the sales - its often limited to how many I can buy. I will try purchase around 10 - 100pcs to begin with. I go off of uncertainty - If I price check and the item is selling 100 a day on eBay for a price that I can sell them at or undercut, I will purchase as many as financially possible. Sometimes the prices on eBay are really high so not many people are buying them, but I can seriously undercut like almost half what they're selling it at - its a little risky because I don't have the 'evidence' (The proof of others selling it on eBay which tells me for a fact it's a trending product), however I still will place a smaller order around 10pcs of that design or product. Also this comes down to price - if the item costs £50-100 I typically will only buy 3/4 pieces until I know they sell. If the product costs £10 I will purchase 10-20 pieces because it's affordable. Basically If I had a lot more money, I could purchase even larger quantities, but as I grow and make more, I have started to buy more. Sometimes I kick myself because I only buy a small amount and they sell crazy good and I can't buy them anymore. My advice would be, if purchasing from online stores and popular large retailers - buy more if you can afford it and you're sure they'll sell. The benefit from buying from these retailers is you have a 30 day return policy. Obviously I don't open up and use any products as they are to sell, so as a back-up If I don't sell my products or they don't seem to go well - I can always return the product and get my money back.

This is why purchasing from a UK reputable retailer is really low risk and basically you can not worry at all If things don't sell because you guarantee your money back. What more could a seller ask for?

Buying in bulk from China is a little riskier - you cant return unless there's a fault and its a pain. So basically my advice would be do your research. Into the product itself, look at not just the top page of resellers but go deeper into who's selling, who isn't, can I undercut these etc.

- What are your highest and lowest profit margins?

I am a strong believer in selling large quantities fast at a small margin - the "walmart' strategy. I worked out, if I sell one product a couple a month but at 10x the price, I make less money than if i sell everyday at a small margin.

So my focus is on trending products, things that are highly popular on eBay and sell fast.

My profit margin is approximately 50%.

Per product it depends, some cost a lot and only profit a little, some are really cheap and have a really high profit margin.

To give examples - some product I purchase for 60p and I make a net profit of £1 per item - but times this by 50 a day, you're making a decent income from one product.

Then add in another product with the same margins - you're totalling £100 a day from just two products.

The low profit can soon add up, if you have 10 hot selling items at £1 profit, you're easily making £500 a day. Of course this is hypothetical and every product is different, but in an ideal world - being able to find as many popular products as possible can really generate some huge income.

I personally mix up some of these same cost items (typically from china) with some UK items that are popular.

The Pros of the items from China - if you can items that sell regularly, you have a constant, readily available supply that won't diminish and you can regulate your stock (i.e. when you're running low, order some more and keep your listing going)

The Cons of items from the UK and sale items - they often are limited, once they're gone they're gone - BUT they do sometimes offer crazy high profit margins, and if you're on the search everyday - you always find similar products to what you know sells and it becomes an easy process.

- Are you selling locally or nationwide?

Ultimately I sell internationally, locally and nationwide. I try give it an all round approach to maximise as many sales as possible.

Nationally and internationally selling on eBay and etsy.

Locally is posting on my social media my products that I think my friends and locals would like - I wouldn't bombard them but if I had a cool product that I could offer at a super low price I know they'd appreciate that.

I do sell on my local social media marketplace, however it does get frustrating with numerous people have you wait in all day for them not change their mind. So its certainly one to use but I really don't rely or need it for my success, it would drive me mad if it was my main source of income.

- Are your suppliers from the 2 known websites in China?

I think I've covered this, but yes I do supply those products that are cheaply but well made in China - but sourcing products from the UK is also super easy currently and for someone looking to get started - I would recommend trying to buy some bits locally online in the sales to get the ball rolling.

I kept overthinking saying I needed this grand investment and massive stock etc. But really just buy something, anything ! One order for 5 cheap products or even one product can re-ignite that spark and love for selling online when you remember how easy it is to make extra money!

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joshs123

joshs123 Do you post? If so, what service do you use?

I try to always stick to Royal Mail for posting as they are typically quite reliable.

My number 1 advice is always get proof of posting as your items (no matter how cheap)

will be insured ONLY if you have proof of posting.

For expensive product ALWAYS ALWAYS make sure you insure them, and keep safe every document because you will end up paying for a refund to your customer loosing that money and the initial cost for the item if you don't keep your paperwork.

I've made this rookie error a few times - just because it's packaged well and sent next day does not mean their are not going to be complications!

Keep good record of everything.

I also have used Hermes for items under £50 as the tracking is useful, but customers can get a bit impatient more so I think with tracking because they will message saying "it's been in transit and hasn't moved is it doing okay" and of course the tracking is out of my control at that point but I still have to communicate with them.

Hermes have just finished a great deal offering half price shipping with them through eBay packlink - so if they have more deals like this it really can make a massive difference for increasing your profit margins.

Do be extra careful, Hermes have had some issues - one expensive parcel went missing I couldn't claim, one parcel was damaged despite packing it extremely well so just keep receipts, take photos as evidence, packaged like everything is fragile glass and you'll have a lot less problems!

- Do you run an excel/software to track inventory?

I do not - I enter my quantities into eBay when I list my items, and use that as a counter to how much I have. If I sell on other platforms or sites I just make note and alter the number on my eBay listing that way I can keep track.

If you are dealing with extremely large quantities then that is a good idea, but I personally try keep it simple when not dealing with thousands in stock.

- Do you run marketing ads on facebook/instagram?

I do not regularly but this is a great idea. I did run a facebook campaign for one item which did increase the views, but my issue still is that people on facebook don't always commit and will mess about. If you have the patience and I suppose the right product then certainly this is worth doing. You can also make facebook campaigns on your personal account rather than making a business page which is very easy and beneficial.

Great idea, I would certainly give it a try - they do offer free "ad money" to get you to try out ads so it is worth trying, but don't invest too much hard earned cash.

ONE thing I do use, is ads on eBay. This feature they got rid of back in the day when I was selling as a kid and it really was a shame. Now they have back a percentage system whereby you can decide how much percentage of the final price you want to pay to promote your product. Typically around 10-20% is good but they have recommendations based on similar products.

This isn't always necessary but if your listing isn't selling its worth it too boost your visibility and get you to the top of the rankings. I also almost always increase the price accordingly so I am not eating into my profit - only sometimes if I don't have much room too budge on margins, I will sometimes sell the product making a slight loss just to boost the listing - but this is personal and don't recommend to everyone. The money comes out of your end of month fees so do bare in mind if you sell £100 products with an ad fee of £1 each it does really add up to a large sum at the end of the month - if you incorporate this fee when working out your profit then it won't be a big deal, but does feel like a lot!

- Do you take payments in paypal/cash only/card?

For me PayPal is amazing - it gives confidence to buyers and is great for sellers because you don't have to give people your card information, you can have them send over money and you know that they feel more confident than via bank transfer.

In person, I always ask if they have PayPal as I then can deliver their items (to locals ) con tactlessly which is really great especially now.

- Which categories give you the most profit?

I try look for products that are cheap, price check on eBay, do the "how many have they sold today" checks and then go from their.

This gives you a great indication of what's selling. I sell recently hats, sunglasses, face masks, skipping ropes. Items that people really could use right now, designer items that you can sell for crazy cheap prices are always good.

eBay customers certainly love cheap - they are more likely to buy a low-medium priced brand than a really high end designer with a little discount.

Think TKmax, think really affordable designer stuff - don't try be extortionate - I buy it at like 60% off and sell it to the Customer for 55% off. My goal is to find the great deals and sell them to customers at a great price.

I think of it like this - some people don't have the time or patience to sit and search to every corners of the web for the greatest prices or deals. So if you can bring them some great products at a price still well below retail, then you're going to appeal to the eBay market.

If you can make sure you're there for all the great sales, searching for the products that people want but still at a great price - you will be successful.

I don't have a job currently because of corona, I don't have anything to do all day - so I put my time and research into finding these deals which people don't have the time to find.

- Do you advertise in depop/gumtree/shpock?

I do not use these - certainly if you have time I reccomend attacking at all angles, trying all sites you can think of to sell. One site may only bring you two sales a week or even a month but you have to think about the bigger picture, that EVERYTHING adds up and you have to have the approach that each sale will contribute to a larger income - no matter how small.

- Do you thrift?

When I was younger I did try but didn't really have many options near me. My grandfather collects stamps, rare memorabilia and so he really got me into selling and I do think thrifting, car booting, selling bits from your house are all connected strongly to buying and selling - the basic premise is the same. I think for the people out there that do these things there is great money to be had.

- Do you send email/sms lists with new arrivals/stock to previous customers?

I started on Etsy last week and they are really great for these things - sending a "did you like your item" follow up messages to customers, Coupons and vouchers for money off their next purchase etc. So I think that platform is amazing to simply do these kind of marketing tools to build up a loyal customer base on a platform.

As a marketing grad I ideally would recommend using these strategies as that's an excellent way of retaining some loyal and repeat customers.

Personally I know I just sell products that people click and buy with few interesting in following my eBay show. But to try tap into that market and attain more customers on a long term basis - that's certainly a great strategy to implement.

In Summary - I really do believe anyone can buy and sell and for any newbies, just start small - do a small amount of research, find something in the sales that sells well on eBay and get selling! This will start the ball rolling and help you learn the process, get your business brain thinking!

Love the comments, really great to have a chat about what peoples thought and ideas are on this. I'm not stating I am an expert, I just want to try encourage others who are thinking about it to buy and selling and support you if I can. I've already learnt a lot and from your message there are some great ideas that I can think about and try implement and improve on so thank you so much!

Already a great experience thank you all again! Let's keep the conversation going!😀

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LordUnbox

joshs123 I was not expecting a response like this! I have not read everything however, I want to share something that it may or may not be worth to you. I used to use inFlow, at the time, it was free if you were not using their server/database features. Now it seems the light edition is 70 dollars a month.

But I think this one still works:

https://download.cnet.com/InFlow-Inventory-Free-Edition/3000-2067_4-10772674.html

Can't wait to learn with you!

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AgnesFaludi

U buy it when it is cheap and sell it when it is expensive...like toys...u buy it in end of jan and febr and sell it before Christmas.

Not so different from stock trading.

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joshs123

You’re not wrong! It’s certainly straight forward to do but can be complex!

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LeighReidAtanas

How do you save money on fees being hit from eBay and PayPal at the same time from selling??

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joshs123

The Fees certainly add up - I know them by heart now so every time I’m pricing up wether Something has a good potential profit i add in the 10% ebay fee plus the 2% + 30p PayPal.

I basically will make sure that even with postage, and ebay paypal fees that there is still a good profit!

and most of the time there certainly is!

The worst is selling more expensive items, watches Ive sold for £100 and eBay taking £10 plus paypal taking £2.30 it’s a shame that such a chunk is gone! considering my profit margin is about 40% I end up making a small profit.

I try to sell more cheaper priced items when possible but still do sell expensive ones.

There’s no way around the fees and at the end of the month the £200 bill is sad, however I think ebay gives me a platform with thousands of visitors daily and allows me to make the profit I do - without paying them the fees I would sell 10% of what I do!

So for me it’s worth it! just add them up into your calculations and often there’s still a nice profit to make! selling things £8 an under is the best for paying little fees and it doesn’t seem to take a large chunk!

hope this helps!

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LeighReidAtanas

joshs123 appreciate the feedback thanks very much this makes sense!

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joshs123

LeighReidAtanas no problem! 😁

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sarahgreen15

Gonna have a small rant here, but we have a baby on the way and my partner has racked up a huge credit card bill which needs paid off.. so we started selling his old football shirts that dont fit him or his son anymore - there was around 40 shirts, all different values depending on condition / age / rarity.. we have done our research and are selling them for around or slightly less what they are worth. What annoys me, is people who constantly message asking me to heavily discount the shirts or sell them as a bundle for a lot less than they are worth, so they can sell them on for a profit - I’ve even had people tell me I NEED to give them money off so they can make a profit. We need the money just as much as they do - it’s one thing getting a bargain and profiting from it and another ripping people off so they are left out of pocket 😠

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MrsCraig

I know exactly what you mean! I sell stuff that we no longer need or use to get some money and I don't mind people making sensible offers but some people take the biscuit! I know one girl who was on all the local selling sites and she would beg for items for her son saying she really needed them as she was a young mum, struggling etc, then a few weeks later she would be selling all the stuff she got for free to make a profit! People didn't mind helping her, but they felt lied to when they saw their items for sale, especially when she asked for a pram and was then selling 5 of them! As you say those people maybe could have needed the money too!

I would offer to help with baby items but I think the only thing I have below 12 months is a pair of baby booties and possible a few blankets as I've gotten rid of all his smaller stuff. If I remember correctly you are in Scotland, make sure you apply for a baby box! They is loads of brilliant stuff in them, really helped us when we had our son.

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joshs123

A lot of people certainly will try get an unfair price off people- I would just shut them down straight away or just don’t accept offers?! Maybe leave them at a price you’re happy to sell them and then if they don’t sell after a few weeks drop them slowly. I know lots of people will put Pressure on you to sell lower, but ultimately you’re in control and if you can Sell them for however high or low you choose!

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joshs123

MrsCraig it’s a shame when people try and extort others! I feel like sadly Sometimes people use issues that others may relate tok or try play the sympathy card which is hard to turn away from!

I personally try to just be straight up and I will only sell things at a price that im comfortable. I’ve not personally had what you mentioned happen but I know friends who have had people reach out and even get money of them because they’ve told a sad and fake story.

its a shame when you have good intentions!

I try to avoid local selling sometimes as people do seem to mess you about and try get you to sell it at crazy low prices! What I like about eBay is people will purchase the items normally without trying to barter or run you down to the ground with price- typically they see an item they like and if theyre happy with the price, they just click buy And job done.

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MrsCraig

joshs123 I am lucky I've never had it happen to me too, but it does make you wary. She definitely used the sympathy card and even lied to get things from people. She went on a local baby and childrens page and lied about a sick child and got lots of stuff for free and then sold it all, on the same page!! Someone put a post up about her a few days ago and she has been banned from all the local pages now.

Like you I sell my items at a price I'm comfortable with and I've only ever had one woman try to barter and I just said no that's the price.

I've sold a lot of items locally and never had any issues and I've also posted a lot of my items too, so I'm happy doing either. The only issue I've had is people saying they will be there at a certain time and not arrive. I just repost the item or contact the next person who wanted it.

I don't sell much on ebay due to the fees, if it is a bigger item then yes, but for a small item, by the time I've paid out Ebay and paypal fees I don't get much for it.

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LordUnbox

joshs123 Good thing you're doing. I'd like to get in touch, not sure how.

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joshs123

MrsCraig It's a shame but some people are just out to scam people for free things which isn't okay. I know locally there's a couple of people who have done it but normally they get outed and people catch on.

I do agree the eBay fees and postage do add up - that's normally why items on eBay aren't as cheap as they could be - because everyone increases their price to account for the fees sometimes adding on quite a lot. I know a watch I wanted to sell for just a small profit but ended up adding £15 to the price to account for fees.

I'm not really experienced in selling the items you sell, but maybe have a look what people on eBay sell them for, sometimes people will sell bits for a little more to account for fees.

Just as an example of the fees.

If you sell something for £5 + £3 postage?

10% eBay final value fee = -50p

2% + 30p Paypal Fee = -40p

For selling something at £5 you lose 90p so you could try just adjust the price slightly selling it at £5.99 plus postage and see if people still go for it.

Just a thought - I know eBay isn't really ideal for everyone and for some its far easier doing it locally but its possible some items sell well - I know second hand clothes, household items, accessories sell very well as people are out their collecting them personally or for reselling themselves

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MrsCraig

joshs123 people definitely caught on to her and she got outed.

I don't have a problem posting things if the person pays the postage, I have posted lots of things that I've sold, I just prefer it if the person can collect as it's easier for me with a busy toddler!

But I will look in to your suggestions about ebay selling.

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joshs123

MrsCraig yeah That’s understandable! Its really about what’s convenient for you- I don’t think eBay is the best for everyone, but it does hold potential to help increase your sales or at least provide another potential stream of money!

worth just having a look, doesn’t have to take a lot just maybe see if people are selling similar things to what you have or sell and see what people are paying or bidding - it’s possible it’s a lot more than you are getting currently!

but ultimately it’s about what’s convenient and easy for you!

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