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[Method] Passive income with ebay!

Discussion in 'Making Money' started by elavmunretea, Jul 28, 2016.

  1. elavmunretea

    elavmunretea Elite Member

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    This is my full journey with ebay, and hopefully you will learn what to do, as well as what not to do. Unlike my last method, this applies to everyone, and you do not have to live in a MEDC country that has Amazon. This is another method that is widely known, but at the time I thought I was some genius who had stumbled across a goldmine.

    Backstory (I would skip this if I were you):

    I had been reviewing products on Amazon for a few months by this time, I built up a decent relationship with a few Amazon sellers and I had grown a small ebay account (Around 50 feedback), by selling the majority of my items on the platform.

    One day I wanted to buy a new headset for my Xbox one so I looked them up on Amazon, found one I liked (turtle beach something or other) but unfortunately it was more than I had intended to spend. I thought I would look it up on ebay and, to my surprise, it was actually more expensive than Amazon (By about £5.

    This got me thinking (Keep in mind at this point I was just a kid sat on his computer, I had not discovered BHW) so I listed a few on my account, lo and behold, the next day I had 3 sales. Yes, I know it is terrible margins, I was making about £2.5/sale, but it really got me going.

    After doing this for around a month, I decided that it was not worth my time. A while later a guy, on an IM group I joined, was asking for people with good ebay accounts to do a joint venture. We started selling codes on ebay, and the next day I woke up with 80 sales! You may be thinking: $1k in a day, why would you be telling us the method? Well… our code supplier ran out after about 2 sales, I ended up having to refund everyone, and my PayPal got fucked up big time! Lesson learnt, make sure your supplier can cope with a lot of orders (Which is why I recommend Amazon to ebay)

    How do you dropship to ebay?

    1.) Get yourself a good ebay and PayPal:

    Unless you have a lot of capital saved up, you will be using the money from your sales to buy + ship the goods, so you will need instant access to the money. This means your PayPal account must be unlimited, so if you do not have one I would suggest you buy one.


    I would also advise you to have an ebay account with some feedback, and high selling limits, as this will allow you to look more authoritative & trustworthy to buyers, as well as sell more items. You can also buy these fairly cheap


    2.) Identify products:

    The hardest part about this method is identifying a product that will sell high price and high quantity. You can look for an item on a whole host of sites, such as: Dhgate, Alibaba, Aliexpress, Amazon, G2A etc. Whilst looking for products you need to factor in seller fees, which can often make a product you thought would make you a decent amount of money worthless. I used a fee calculator to make sure I was making a nice amount from each item, and I always aimed for at least £3 profit/ item.


    One thing I notice is that ebay do not take commission from your postage fee and as I was originally buying my products from Amazon, where postage is free, I decided to reduce my prices by a bit and instead increase my postage cost. This meant that if I bought a product at £25 and sold it at £32 + £2.99 postage fee, I would make £5 every sale.


    3.) Attracting customers and getting sales:

    As I have said countless times, when I was doing this I did not know of BHW and online services, so looking back now, I am really kicking myself for not making my service more efficient. I was originally copying all of the sales information from Amazon and posting the item and hoping it sold.


    If I was going to do this now, I would buy some watchers for my item which would make it more appealing to potential customers. You could also purchase a few from yourself (refunding the money of course) So that my listing displays “Hot: x sold in 1 hour”.


    4.) Make it passive:

    I am actually really mad I did not discover this site earlier, as I could have scaled the shit out of this method. You can sell as many products as you like, try everything and see what sells best, and hire a cheap VA to process all of your orders. One setback I met was that Amazon let me buy 2 of the Headset each week/ account, so I had to create about 30 accounts to keep up with the demand.


    Like I said, this method is not new to you guys, nor is it the biggest earner, but by using a VA, you can get some decent passive income. Sorry this is shorter than my last post, but this is much simpler, and you really just need to test a bunch of products and see what works best.
     
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  2. dondada7

    dondada7 Power Member

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    Were they the skittles xbox live codes by any chance?
     
  3. elavmunretea

    elavmunretea Elite Member

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    No is was this: Headset
     
  4. dondada7

    dondada7 Power Member

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    I mean the codes you mentioned you sold after that, I knew quite a few who made big money off them skittle codes

    edit: just realized you said xbox one, this was before that. Nevermind
     
  5. elavmunretea

    elavmunretea Elite Member

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    No they were software related... seller really fucked me over though
     
  6. dondada7

    dondada7 Power Member

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    Ah right ye I know what you mean. I nearly fell for the same thing when I first started.
     
  7. miracle2207

    miracle2207 Registered Member

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    Thanks OP. Dropshipping is a bit saturated now, but it still works. As You said, it takes time to find "working" product.
    Good luck to everyone.
     
  8. hippo123

    hippo123 Jr. VIP Jr. VIP

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    Nothing new, just a quick guide to drop shipping.

    99% of the dropshipping work comes from identifying the product.
     
  9. elavmunretea

    elavmunretea Elite Member

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  10. CodingSpartan

    CodingSpartan Newbie

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    This is actually pretty helpful information. I thought of doing something simailer, selling games and then buying the game licenses from g2a (you can get games really cheap there). Never really took the initiative into doing it, so I hope someone else could read this and look into it ;)
     
  11. buttmonk

    buttmonk Power Member Premium Member

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    Thanks for the guide. Just getting into dropshipping so will come in handy.
     
  12. elavmunretea

    elavmunretea Elite Member

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    G2a games are sort of saturated on ebay, I would suggest selling on amazon for virtual games.

    Glad you liked it
     
  13. Zartan

    Zartan Registered Member

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    eBay charges a final value fee on shipping as well.
     
  14. elavmunretea

    elavmunretea Elite Member

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    Not for me they don't. Paypal does, but not ebay!
     
  15. Disco Stu

    Disco Stu Junior Member

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    Thanks for sharing....
     
  16. dakon

    dakon Registered Member

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    How do you buy from Amazon with the funds you have on Paypal?
     
  17. brennans

    brennans Newbie

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    If you dropship ,is it possible to order via your affiliateaccount to get an extra discount?
     
  18. Dev Warrior

    Dev Warrior Jr. VIP Jr. VIP Premium Member

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    Find Amazon gift card vendor that accepts PayPal and then use the Amazon gift card to purchase from Amazon!!
     
  19. Cool Guy

    Cool Guy Junior Member

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    Thanks mate, actually I tested dropshipping 2 months back but never got a single sale. Don't know why this is happening.
    None of my listings were ranking in top 25 results. So, can you please give me any advice?

    Great guide by the way;)
     
  20. Go4DBest

    Go4DBest Newbie

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    Realized you said Xbox one, I mean the codes you mentioned you sold.