A few months ago, I shared some ways to bring in a little extra money. One of those ways was selling items on eBay and since that is where I bring in most of our extra income I decided to expand on what type of items I sell and what my monthly profit has been looking like to give y'all a general idea.
1. Clothes - this is the biggest category of items I try to sell. They range from brand new never worn items with or without tags and used clothing that is name brand and in good condition. The reason why I only sell name brand on eBay is because buyers are looking for a good deal on brands they love and typically you can't get much for clothing items that are not of a popular brand. For example, I have sold an H&M shirt, Under Armour clothing items, Nike, Kenneth Cole, etc.
2. Shoes - the shipping cost on shoes is high because they weigh so much and most times require you to do Priority shipping. I charge the buyers for shipping but you must know the exact weight of the item to determine what you should charge for shipping. I don't have a postage scale so it's kind of a hassle but I do plan on getting one so I can get better at charging the correct amount. I have cut into my profit numerous times by undercharging for shipping. This is one of the highest profit items though so it's worth trying to sell shoes as long as they are in good or better condition.
3. Hats - I really thought this item would be the fastest selling item yet I only sold 2 hat out of the 7 I had listed for the past two months. Hoping they sell soon though as I made some adjustments to their listing!
4. Watches/Activity Trackers - these items are the quickest and highest bidding items I have sold. People go into bidding wars for these items, I guess because of the fitness trend right now.
Extra Tips & Tricks
Before listing an item, if I do not know their worth I try to find the exact item on the stores website. If the item is new with a tag, I try to get the actual value amount. If the item is new without a tag, I try to get at least half the value or more (this is where setting the item as an auction item comes in handy). If the item is used than I typically go with eBay's suggested starting bid price and hope I get numerous bids. Sometimes I do research the eBay site for similar items that others have sold to get an idea of what buyers are willing to pay.
If an item doesn't sell I relist it, sometimes at a reduced price depending on how desperate I am to get rid of the item. For example, I have a pair a KSwiss shoes I'm trying to sell and I have the bid starting at $30; I noticed I get watchers and a lot of views but no one has placed a bid so after relisting it numerous times I now dropped the starting bid to $20. We will see what happens. Sometimes you just have to be patient for the right buyer to come along.
My Monthly Profit
So how much profit have I made these last few months? Well I have had good months and I have had really slow months. I can't make a living off eBay but it helps having extra cash here and there.
November - $43.54
December - $80.25
January - $284.69
February - $159.45
March - $8.01
April - $56.40 and counting
April - $56.40 and counting
I determine my profit by subtracting shipping cost, shipping materials (I buy these in a bundle as needed), eBay fees and PayPal fees from my sell price. I have created a spreadsheet in Excel to help keep me organized and calculate my profit for me.
I hope these tips and tricks helped you out and you were able to get a realistic view into how much profit a regular person makes selling stuff around the house.
What do you do to make extra cash? Do you keep account of your profit? If so, do you have an excel spreadsheet or do you do it by hand?
