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is it even possbile to become a ebay millionaire these days

Discussion in 'Ebay' started by andrew871, Oct 11, 2015.

  1. andrew871

    andrew871 Newbie

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    is it even possible to become a ebay millionaire these days i see most of the millionaires on ebay got started in the 90's and early 2000's?
     
  2. 1morenoob

    1morenoob BANNED BANNED

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    I doubt it in the UK without dodging tax. Biggest seller here has just closed down, probably has the tax man breaking their door down, were selling 15 mil per year
     
  3. GhostOfAmazon

    GhostOfAmazon Newbie

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    Your name suits you well. You guys need to do your research and stop playing poor pitiful me.
     
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  4. toml3030

    toml3030 Elite Member

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    I personally know someone who will net about $500K off ebay/Amazon this year and he started in 2011/2012.
     
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  5. Euphorix

    Euphorix Supreme Member

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    Like any business.. If you put in the work it takes to make a million dollars, you'll make a mill
     
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  6. 1morenoob

    1morenoob BANNED BANNED

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    lol, I make plenty of money on ebay thanks. Its different in the UK, we have 20% sales tax, pay that and you're unlikely to be competitive on ebay as 90% don't
     
  7. royserpa

    royserpa Jr. VIP Jr. VIP Premium Member

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    Of course you can, just ebay and you will be making millions from ebay!
     
  8. burgtech

    burgtech Junior Member

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    You will be millionaire after 15 years. Ebay demand too much from you. too much patience and consistency in work helps a lot to earn money from Ebay. Its not a rocket science to follow just be honest and dont try to make fool over internet then you will also be millionaire after 10 year
     
  9. kunnu

    kunnu Regular Member

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    If you have a good product and there is a large demand for your product then you can become a millionaire.

    I was sell few products and my product was sold out within 12 hours. I don't want to go to china, purchase product and import to my country to sell it otherwise I can earn lot of money from ebay.
     
  10. Smokingfilla

    Smokingfilla Registered Member

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    I mean I feel it should be possible simply because it's a popular website that can have some preeeetty expensive items on it BUT the real question is WHHHHHHHHHHHHHHHHHHHHYY would you want to become a millionaire or even a hundred thousandaire on something you don't own?You'd be better off just starting a website THEN you can work up some money from maybe feebay or amazon to get you enough to put your site and products up on an affiliate network(CJ,Sharesale,Linkshare,etc).With the money you'll save on fees from ebay and being in control of your own site it'd be easier to get people to your site.Like someone said on another site,if someone bought an awesomo product from you on ebay what's the chance you think they'll tell people they bought it from "myawesomeebayshop"or just ebay?Believe me,just do like everyone will more than likely tell you and just sell on Ebay/Amazon type stores with the INTENT on building up your website traffic because that's a risky move to make things you don't control while being independent your main source of income.
     
  11. archon10

    archon10 BANNED BANNED

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    People say this stuff all the time on here. It also happens for people like me who work off of freelancing platforms. The typical "why not build your own site." To generate income that isn't just a few pennies to rub together takes massive work and marketing. Ebay has the marketing and visibility that gets your products in front of millions for a small fee from the seller. Sure, you could probably build a site with modest income, even a good income at some point, but there is so much more to it than that. And, you'll never get the exposure for your products like you can so quickly by uploading to ebay.
     
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  12. worthynes

    worthynes Junior Member

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    Just started eBay dropshipping. Do anyone personally know an eBay millionaire using this model?
     
  13. Smokingfilla

    Smokingfilla Registered Member

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    Then when Ebay bans you because your competition doesn't like your price and set you up with dud purchases then you're back to base one.Nobody says building your site is easier we just say it's BETTER and more long term,Rome wasn't built in a day.Being an ebay seller isn't bad I just don't think it's a safe bet to put your future and honesty blood sweat and tears in,what ebay does for you their doing for who knows how many other sellers on the site so it really doesn't benefit you much.
     
  14. snowberry

    snowberry Newbie

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    Only if you sell an item worth millions...but the odds are slim
     
  15. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    Buy a million pounds worth of stock, sell it all on eBay, pay your extortionate eBay and PayPal fees, and you may just about have £1m. There you go, eBay millionaire.
     
  16. FoxMulder2014

    FoxMulder2014 Newbie

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    For every million you make. You get scammed for 900k + Paypal scams you even more demanding a rather hefty fee on top of that in favor of the scammer. Add ebay costs....

    Making a million will cost you more than million :/
     
    Last edited: Oct 16, 2015
  17. xel3891

    xel3891 Newbie

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    I don't get what half the people are talking about on here. If you account for the costs and fees in the product you sell then of course you can still make money on it. Think archon was on the money, eBay traffic is immense and not something many people could compete with. I started a shop with £50 worth of stock last year, I'm now sitting on £7k worth and sales everyday. Not £1m but not a bad inflation on investment and I could definitely scale easily. All I would say is not to invest everything into a single item, it can take time to sell something on there so spread your opportunity.
     
  18. toml3030

    toml3030 Elite Member

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    Chances of doing ANYTHING and becoming a millionaire is slim. Most people are not disciplined or focused enough to actually do it, even if they know how. For example, everyone knows that to lose weight, for 99% of the people all you have to do is exercise more and eat less. But you see lot and lots of fat people going around crying that they can't lose weight and spending money on latest diet fads, etc.

    I'm pretty convinced that even if I show people exactly what I do to make money online, most people wouldn't be able to do it, either because they won't put in the work, because it doesn't fit their personality, or whatever.
     
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  19. toml3030

    toml3030 Elite Member

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    I think this is somewhat overblown unless you somehow end up in an incredibly competitive niche. If your account gets big enough, your competition messing with you will get buried as a % of your transactions.
     
  20. toml3030

    toml3030 Elite Member

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    Think of it this way. Does a department store like Macy's actually own anything? No they don't. They don't own the buildings, they lease them. They don't own the inventory outright, it's all bought on credit from the suppliers.

    The problem with this is that as a % of sales, it will cost you way way way more $ to build traffic that eBay/Amazon brings you. If you sell a few things on eBay, the return on equity is much better to sell more stuff on eBay than investing in your own site.