Hitting a jackpot on Ebay basically entails making a large sum of money quickly off of one item. There are a few ways in which this can be done. Although it may seem farfetched, if you understand how to do your research, you can hit a jackpot on Ebay pretty easily. The key to making a large sum of money quickly on Ebay is to do your due diligence, otherwise known as your homework.
Firstly, you have to choose what product you’re going to try to sell. A popular choice for many is electronics. A lot of times, you can go on Craigslist and find someone willing to sell a valuable electronic device such as their smartphone for a much lesser price than the item is worth on Ebay. This is a popular method for Iphones, ipads, gaming consoles such as the Wii or Playstation 3, and etc. Sometimes you can make hundreds of dollars from just one of these types of items, depending on the popularity and how much the item is worth in retail value. Some smartphones, for example, are worth close in the range of just under $1,000 so for some who may want these items but not be willing to pay the full price, they still may be willing to pay around $500-700 for these items. If you are able to buy the item for say around $200, you can easily make $300-500 from one transaction. You don’t necessarily have to sell electronics to make a large profit on Ebay. Virtually any type product can make you a lot of money depending on the demand for that specific product. The way how you would figure out which product is the most valuable and has the most demand is by using Ebay’s advanced search capabilities.
Step1) First you have to think of a subcategory or a keyword within one of the search categories on Ebay. For example, if you look in the collectibles section and use a keyword in the search bar for comic books, this will give you all the Ebay listings available for people selling comic books on Ebay.
Step2) Continuing with the example of comic books, click on ‘advanced‘ next to the search button. In the advanced search options select completed listings. This will show you all the listings which have been ended either by default or by someone buying and/or winning the auction on an item as the highest bidder. At the bottom of the page next to the option for sorting your results, click on highest price+ shipping first. This will further filter your results to show the highest priced items which are completed listings. This is the perfect research tool to figure out what items are selling for the highest price. Also take note on how many bidders have bid on an item. This will tell you how much of a demand exist for that particular item.
Step 3) Go out and find your item! Once you choose something on Ebay that you want to sell for auction at a large profit, the hard part will be locating that item. If you’re lucky, you might be able to find the same item for sale at a thrift store, flea market, or maybe even on Craigslist. You can also try googling the item to see if you can buy it from somewhere for a lesser price. Even if it’s an object which might cost you $1500, if the item is being bid on by many people and is reaching values exceeding $1500 like say $3500, then if you can attract the same bidding interest, you can make around $2000 profit easily, which is not bad.
This tactic can be used in any category on Ebay for researching whatever the highest selling products are. As with any investment, there is risk involved in this kind of endeavor. Basically, the biggest risk is investing money for something and then not being able to make your money back on that item. Don’t forget about shipping costs and also being able to come up with a great Ebay ad that pops. A lot of people are too intimidated to try selling on Ebay. It’s very simple to do and doesn’t really take that much investment. With a little resourcefulness you can find yourself winning a small Jackpot from selling on Ebay. Why not try it?