How to Make Money Selling on eBay

Hi friends, today I’m super excited to have Jason Butler from The Butler Journal drop some knowledge about selling on eBay. I had the pleasure of virtually meeting Jason when he agreed to participate in my Student Loan Conqueror series, and then I got to meet him IRL at FinCon, turns out he is just as awesome in person. One of the many things Jason does really well is making extra money by selling things on eBay.

Jason’s an Experienced eBay Seller

So I asked if I could interview him to get some inside knowledge from an experienced eBay Seller. Over at The Butler Journal, he recently did a Thrifting Challenge. Having never had success selling on eBay, I signed up, and I got to say, I learned a lot. You can still participate in the Thrifting Challenge, by signing up here. Now let’s get on to learning about what it’s like and how to make money selling on eBay.

What made you decide to start selling on eBay?

I’ve been selling on and off with eBay since 2008. I started getting serious about it when I started to pay off my debt which was in 2015.

How does one get started selling on eBay?

It’s very easy to get started with eBay. It’s free to sign up for. You can have your account up and active within 30 minutes.

How did you figure out what to sell – was it a trial and error process?

I had read that a lot of sellers were having success with selling old Jordan sneakers and Jerseys. Those were the first items that I started selling. Some of the others were trial and error. Now, I research when I’m debating on selling something new for the first time. Here is a list of 100 things to sell on eBay.

What is the process of selling on eBay?

The process is pretty simple. I take good pictures and price them accordingly. I list the majority of my items for 30 days. Then I sell them with the Buy it Now feature. I’m not a big fan of auctions anymore. They take too long.

My shipping time for my items is 2 business days. I have to give myself some time in case I’m busy with other things. I usually give my buyers 48 hours to pay. Once they pay, I can let the money stay in PayPal account, or I can transfer it to my bank account.

How much do you earn per sale (percentage)?

I earn anywhere from 80% – 90% for each sale. eBay takes out 10% for its final value fees. Depending on the amount of items you’re selling, you could get charge other small fees. You also have to consider shipping. If you offer free shipping, that will come out of your profit. I charge shipping with the majority of my items.

How much have you earned selling on eBay and over what period?

I didn’t keep the best records in 2015, but I can say that I’ve made approximately $2500 on eBay since January 2015. Some months, I went harder than others. I also only thrifted once or twice a month in 2015. Now, I look for items weekly.

What is the best part of selling on eBay?

The best part of eBay is when items sell for higher than what you thought they would. I also like hearing the ka–ching sound when I get a sale as well lol.

Any downsides to selling on eBay?

The only downside is getting that buyer that doesn’t pay. It happens from time to time.

Any other things wannabe eBay sellers should know?

If they are considering selling things on eBay, do it. It is safer than Craigslist or Offer Up.

Wrapping it Up with a Bow on Top

If you are looking to get started selling on eBay then, Jason and his Thrifting Challenge are great resources. I learned a lot from the thrifting challenge myself and I look forward to implementing it soon, keep an eye out for an update on how I do with my first thrifting foray.