eBay is, in many ways, a phenomenon. It’s almost like a world of it’s own. Many of you sell on eBay in some capacity: part time, full time, seasoned, experienced, or just starting.
And I have my opinions about eBay. Not so much about eBay itself, but about what happens with sellers that sell on eBay. I’ll write a lot about thinking outside of the eBay box, that eBay is not the world. Let me tell you why I say this.
You deal with eBay or eBay sellers long enough and two things happen:
1- a seller finds it increasingly difficult to make the same money they made before (overall)
2- a seller finds it increasingly difficult to get the same amount of money for specific merchandise as they once did
Some sellers accept reduced income, or increase their volume just to keep the income the same. And some try and find merchandise cheaper and cheaper and cheaper.
There is a price floor in this industry. Once you are getting the best price on merchandise, it doesn’t get much lower. So if the prices are falling, then, maybe, just maybe you have to find somewhere else to sell.
What most eBay sellers do not understand is that when it comes to designer merchandise, eBay is not always indicative of the market in general. Just because you can’t get decent money for XYZ on eBay, doesn’t mean you can’t get decent money for XYZ. So you can decide whether or not to sell XYZ on eBay for little profit or find somewhere better to sell it.
The sellers in the best financial positions have multiple channels for selling merchandise. When one is slow, there are others to pick up the slack. They can keep their business level because they are not entirely dependent on one source of sales. This is great. This is not having all your eggs in one basket.
The other thing about sellers who have slightly diversified (not diversified to the point where they are a jack of all trades and a master of none) is that they are more receptive to opportunities. One of the best things you can do is be open-minded. You need focus, but not so much that you have tunnel vision. By keeping your mind open, you will spot opportunities in places you never thought of. You have to train your mind to be receptive to opportunities. The person that emails me that is hell bent on getting Prada, Gucci and Fendi purses will overlook boutique brands that are consistently selling for close to retail on eBay. The person looking for only top tier couture misses out on the casual designer sportswear selling for more than retail. The person dying to get Juicy because it is the cash cow of the moment, is overlooking the next big thing, the up and comer that they can get in on NOW so that when it’s a cash cow, they can take advantage of it.
Anyhow, that’s all I have to say about that. Basically, be open minded and try to diversify your selling venues a little.