I’ve sold a lot of things online, ranging from: concert tickets, collectible fishing lures, bobbleheads, Yu-Gi-Oh cards, digital cameras, and baseball jerseys. I’d like to share what are the most efficient ways to sell things through the Internet. Why keep stuff laying around when you can turn that into cash which can be reinvested?
1) EBAY (www.ebay.com):
Use Ebay (EBAY) as an indicator of the market value for the item you would like to sell whether you plan to use the site or not. View the recently completed auctions to find out what the public is generally paying for the used or new item that you have. For things that can be easily shipped and have some kind of scarcity, I would use Ebay because you have the widest range of possible buyers from all over the country. Be aware that you will have to account for the cost to ship the item and 3-4% of the sales that will be paid in Ebay fees. Then you’ll have to pay another 2-3% of the payment via Paypal (the usually method of payment through Ebay). If you’re not willing to lose up to 7% of the sale plus shipping cost, then Ebay may not be the best option for you.
Best Ebay benefit: can sell almost anything, widest range of buyers
Biggest downfall of Ebay: a lot of auctions to compete against
2) CRAIGSLIST (www.craigslist.org):
If you’re looking to sell items not easily shippable (furniture, artwork, household appliances, car parts), then Craigslist would be the place for you. Craigslist was started in the Bay Area and is basically an online classified site that allows users to post ads for free. There are no fees involved like Ebay, but you have to communicate through e-mail to set up an appointment for the sale. There is a minor amount of fraud on Craiglist with people trying to obtain payment via Western Union wire funds. If you don’t meet with the person to complete the sale, there is no guarantee that he/she is a legitimate buyer. The housing postings are plentiful and are good for advertising to all types of potential renters.
Best Craigslist benefit: ability to sell larger/heavier items, no fees
Biggest downfall of Craigslist: no commitment from buyers, fraud
3) FACEBOOK (www.facebook.com):
Facebook is a social networking site that has recently added a marketplace to their site; where you can post items you want to sell, items you want to give away, or housing vacancies. At this point, it is hard to say how successful the classified ads for material items are doing. The major benefit to using Facebook is for college students or recently graduated college students looking for housing and have yet to invest in a piece of property. The rental options are quite plentiful and you can check out the profile of the poster so you can make an assessment beforehand how compatible you would be. I have easily found three roommates via the rental section of Facebook marketplace.
Best Facebook marketplace benefit: easy way to find college roommates
Biggest downfall of Facebook marketplace: too new to know how effective listings are