Start your own eBay Consignment Business

Start your own eBay Consignment Business

The Internet has created a way for anyone with a digital camera to make money by uploading pictures to Stock Photography websites.

Firstly a definition of what eBay “Consignment selling” is. Basically it involves taking advantage of the fact that there are millions of people out there who have stuff they want to sell on eBay but don’t know how, aren’t confident in doing the eBay process or just don’t have the time required to list and process both a eBay Sale and manage a eBay account. Remember there are many people for which the Internet is a bit of a mystery so the thought of using it to sell unwanted junk is a daunting prospect.

So you get the item or items from your customer and list them up on eBay and if sold organise its delivery to the buyer. You take an agreed percentage of the selling price and pass the rest of the money back to the originator. If it doesn’t sell you just return the item so the only thing you lose is the time taken to list and promote the item. It’s from a financial point of view risk free!

How to Start your own eBay Consignment Business

The easiest way to start is to ask family and friends for any things they want to sell for money and get used to managing the whole process. Everyone must have several things that they will never use again and will be happy to get some money for.

When you’re ready you can advertise in local papers, local notice boards etc. You want your customers to be reasonably local, as you don’t want to travel to far to pick the item up. As you build your eBay consignment business up previous satisfied will provide return business whilst also spreading the word to their family and friends.

What percentage should you charge whilst consignment selling?

Usually you’ll take somewhere between 15-30% of the sale price. You’ll adapt this as you get experience of consignment selling. If you select to lower a percentage you won’t earn enough money to make it worth your while. Choose to higher a percentage and people will be less likely to let you sell their stuff.