I’ve been selling on eBay since its first year. It wasn’t quite as easy back then; PayPal didn’t exist, you had to host your own pictures, and if you wanted any text formatting you had to know HTML. I suppose, in hindsight, that may have been a barrier to entry for some sellers and perhaps it made the selling all the more lucrative for those of us who could navigate the ins and outs of eBay selling.
I have a funny story about my selling in those early days. When I first discovered eBay, I declared that this was a perfect opportunity to clear out some clutter. I hate clutter and prefer to keep my home tidy by purging on a regular basis. But, I have never enjoyed hosting a yard sale with all the setup, cleanup, and haggling with buyers. So when I organized my first round of clutter treasures to be listed on eBay, I announced to my SO that I’d be holding an online garage sale. He heard me out, then re-stated my intentions as follows: “Let me make sure I understand correctly. You are going to photograph your stuff, list it on an online site, and people are going to send you money for it, hoping that you send the stuff to them?”. Defiantly, I said yes, that was exactly what I planned to do. You can probably guess how this turned out - it worked, I continued selling (eventually even sold a few items for him), and eBay became a household word.
Nowadays anyone can easily list and sell just about anything. And you can find plenty of tips and advice around the internet. Check out the following articles for some great advice:
Unsolicited eBay Advice
How to List an eBay Auction for Maximum Profit
7 Tips For Selling On eBay
Rather than re-hash much of what has already been said, I want to talk about another benefit I have found over the years. It is something that wasn’t obvious to me for a while, but it has proven to be an unexpected plus from selling stuff over the years. Selling things on eBay has helped me to see clearly the cost of depreciation, as well as the cost of buying things I may later decide I don’t want or need. Subconsciously, it has made me consider a couple of things now before I make a purchase:
So now, not only can I make a few extra bucks when I sell stuff, but I have become conditioned to think in a more thrifty fashion. It has trained me to think of more alternatives when I want to buy something. And, perhaps more importantly, it has caused me to evaluate the cost of depreciation for most of the non-consumable items I buy. Sure, depreciation is something we all know about when we buy a car. But what about a sofa, piece of jewelry, expensive piece of hobby equipment, trendy pair of boots, or fancy kitchen appliance? I have become so conditioned to thinking of buying used at the best price, and later reselling to maximize profit, that there have been times where I purchased something used at a very good price, and later sold it for a profit.
Obviously, this benefit isn’t limited to selling on eBay; it works whether you are buying/selling on eBay, Craigslist, flea market, yard sale, or other venues. The important thing is to become a critical buyer and a smart seller. If you haven’t tried selling your unwanted treasures online, I encourage you to give it a try. And then the next time you make a purchase, you may find yourself already thinking about its potential resale value.
October 1st, 2008 at 5:04 pm
Great advice for anyone going into sales. It funny how the same principles of frugality in business (i.e. critically evaluating purchases) translate into our personal lives.
Roshawn @ Watson Inc´s last blog post..Do We Need Financial Dr. Phils?
October 2nd, 2008 at 1:20 pm
I got a few posts on depreciation on my site. I calculate this on a semi-religious basis. Everything I own is for sale! Another thing about buying used or at least checking the used market is that you are better aware of there actually being a market in the stuff you own. Buying new means that you can get suckered into purchasing things that are simply impossible to get rid off (other than by the way of the trash can).
Early Retirement Extreme´s last blog post..First day in the RV
October 3rd, 2008 at 3:19 pm
@Roshawn - That’s an interesting point. I wasn’t really thinking about business when I wrote this, but it does apply, doesn’t it?
@Early Retirement Extreme - That’s so funny about everything you own being for sale. I imagine for the right price I would say that about most of what I have, as well! I’m going to check out your posts on depreciation - an interesting subject.