You’ve probably read many times
about making money by spotting mistakes other sellers make on eBay
which means their listings go largely unnoticed and their goods
sell for a pittance to other eBay sellers who buy cheap and relist
those items without the earlier mistakes. The end result is money
lost for original owners and sometimes fabulous profits for
subsequent sellers.
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Spelling mistakes are the
commonest form of arbitrage, so too is listing in the wrong
category, or listing an item as commonplace when actually it is a
rare and highly prized collectible.
But there are other arbitrage opportunities to consider as these
tips show:
* The most reliable way to profit on a regular basis is to
specialise in a niche you know well. By specialising you’ll come
to know which products fetch the highest prices, which are
commonly misspelled, which often fetch higher prices on specific
eBay country sites, and so on.
* The only really effective way to make non-spelling mistake
arbitrage work is to constantly check out last minute auctions
with few or no potential bidders and determine how much more
profit is waiting on the table due to sellers’ mistakes or
oversights. It’s a long job but the rewards can be spectacular.
* Once you find a listing with little time to run and no bidders
it’s time to do an Advanced Search on eBay to determine what
profit potential might exist should you buy the item to relist it
on eBay.
Do this by clicking on ‘Advanced Search’ top of any eBay page, key
words to describe your product in the search box, tick ‘Completed
Auctions Only’. Then search. To the left of the next page you can
choose to search ‘Worldwide’ or restrict your search to the UK or
Europe, the latter also including the UK. Right of any page you
can choose to search items according to highest prices achieved
which is usually the best place to determine potential for a
current similar product listing.
* When you find arbitrage opportunities, look at other items from
the same seller. Many will make mistakes throughout all their
listings, such as repeating their spelling mistakes, using poor
photographs and incorrect categories, and more. Not only will you
find some sellers a regular source of arbitrage opportunities,
you’ll also find most give discount shipping on multiple products.
So you could obtain several smaller items, normally costing £1 or
so to post individually, can be posted in one parcel for a few
pounds more.
* The best arbitrage opportunities exist with unprofessional
sellers, people who continuously use poor photographs or list in
the wrong categories; sellers who list only in their own country
and never overseas on potentially a more effective eBay site;
people using a template with a spelling mistake or template error
that’s existed from day one and was never corrected. Keep careful
notes of these sellers’ eBay IDs and refer to them often.
* Look for auctions that end while most of the world sleeps when
some amazing buys are possible. As for other mistakes there are
some sellers who constantly end auctions when no-one is bidding
purely because they are repeating a one-time mistake that has
never been corrected. This is an easy mistake to make and all but
the most professional sellers may take weeks or months to spot
their mistakes. For example, I once listed one hundred plus items
on eBay, all on a Friday evening, all with intention to sell seven
days later, also on a Friday evening. Friday evening is the end of
many people’s working week and the time many people relax by
bidding on eBay. I was listing many same theme items that evening
and I know it’s a good idea to leave a short time between listings
to give multiple buyers time to move between auctions to check
their bids. Five minutes is long enough between listings to make
sure people can easily bid on subsequent items, so I timed my
listings to end at five minute intervals. Starting 8pm, I listed
100 items plus, at five minute intervals, which means my last
fifty or so ended long after midnight! Not a good idea!
But this is a mistake you want others to make for you to
capitalise upon. Again, it’s all down to physically checking
auction ending times for products you might resell and be sure to
add all items within a specific time frame to your ‘Items Item
Watching’ category. Thankfully, you don’t need to wait up all
night to bid on your chosen items, you can use sniping software to
bid in your absence.
* ‘Speed’ sniping is the process of seeking BUY IT NOW arbitrage
opportunities within minutes of items being listed and long before
the seller realises the mistake or someone else has chance to bid.
This normally works best for specialised sellers in specific niche
markets. You’ll often find items available Buy It Now or Best
Offer which regularly fetch far more on auction listings. This is
because people get caught up in the thrill of bidding at auction
and chase items they don’t really need or want just to prevent
someone else winning them. The bottom line is they end up paying
much more and having to wait for the auction to end than a similar
product being offered Buy It Now and available by return post.
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