I am bringing this over from my other blog, A Crash Course In Entrepreneurship, hoping to get some feedback on here as well!
I was curious if anyone else out there is having eBay success…I know I am! For the past 6-8 months now I have been purchasing auction lots (multiple times under one auction) and reselling them on eBay.
Now obviously this will not work with every time of item you can think of on the site. You are going to need to have a niche to be successful with reselling on eBay.
Quickly, my strategy is to purchase a lot auction on eBay and then sell the items individually which then brings in profit sometimes more than double of what I paid for everything all together.
Already in 2006, with only running about 5 auctions, I made $210 of which about $175 was profit. I have a few more auctions ending tomorrow and the next day which will hopefully bring in more than another $100 of which about half of that would be profit.
I am looking forward to continuing to use eBay as a excellent source of income as 2006 continues. I will probably put together a post later on describing my experiences and the pros and cons of me running an ebay business. But for now, everything is looking good. I would like to get to the point where I can make upwards of $500 a month profit just from eBay auctions. If I could do this on top of other ventures, I would be very happy! I think I am very close to reaching this goal soon!
I would love to hear your experiences with eBay and how you auctions went!
Lets hear your stories!
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