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eBay businesses that rock!

RichRich administrator Posts: 582 Site Admin
edited June 2006 in Selecting a Business
Wondering if any of you have experience with eBay businesses that you`d like to share. We`re speaking at eBay Live! in Vegas on June 14 and we`re putting the spotlight on a panel of entrepreneurs who`ve made key moves to take their business to incredible heights.
Have you had any good (or otherwise) experiences you`d like to share so fellow online entrepreneurs can learn?
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    LingLing subscriber Posts: 1
    Hi Rich, 

    I started my eBay business 1 1/2 years ago.  Shining Star Suits 

    In my opinion, the most important factors in creating profitable
    listings are detailed photos, professional language and setting the
    prices higher than average.  Each conveys the message: "this
    product is valuable".

    My average price per suit was $78 when I started.  Then I added a
    mannequin and auction template which raised my average price to
    $100.  Finally I set my start prices to $119.99 and my average
    price rose to $125 @ 100% success rate.  The overall market price
    is $68 @ 65% success rate.

    So never settle for letting the market set your price like most
    liquidators.  Make your own price by communicating value. 
             
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    RichRich administrator Posts: 582 Site Admin
    ling,
    do you use professional photos? they`re so important to the perception of shoppers...
    and regarding setting prices higher than average, don`t you automatically lose people who are value shopping - that`s not what eBay is all about?
    please explain.
    thanks!
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    bfleming98bfleming98 subscriber Posts: 0
    In Feb. I came across an Xbox 360 and sold it on Ebay.  It got $550 which is a heck of a profit.
    Seriously, my wife tried building baskets.  But the costs were too high for the market demand.  We`re working on a deal right now with some wholesalers and want to become their Ebay channel.
    I really think Ebay`s got an amazing thing going on.  Watch for Skype to be the small business phone system of the future (you heard it here first!)
     
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    LingLing subscriber Posts: 1
    Hi Rich,Yes, you lose the cost conscious buyers.  I think choosing your customers is an important business decision.  A liquidator or consignment shop will cater to the low cost buyers because they are incented to move high volume.  A niche seller must differentiate through services so they can deflect price pressure.  There is a nice cross section of buyer behavior on eBay.   For example, one of the top markets is Louis Vuitton purses.   This is data from last week (courtesy of eSeller Street):Average sell price for LV - $223 @ 54% success rate #1 grossing LV seller - ave price of $451 @ 55%#6 grossing LV seller - ave price of $1143 @ 100% Both are at the Platinum power seller level and sell well above the average price.  They are price makers.Kathy - What type of product would you like to introduce?  Do you already have the product on hand or are you looking to test market and then refine the product specification? 
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