Ebay is a great website to make money with, considering that there is more than one way to do it, legally, and craftily. The “triple” benefit, consists of three ways to make money on Ebay when buying and selling.
The most obvious way to make money on Ebay is by selling a product for more than it was bought for. The exception would be selling something that is of no more value to the seller, but value to someone. However, even in that scenario, the goal is to always make money, not lose money. A good strategy is to take time and by category, a seller should look for the auctions that range from $0.01 to $0.99 with either free or low-cost shipping. Some sellers will put the cost of the item at a penny, and then charge a “boatload” for the shipping. Buying an item for under a dollar will almost always make a profit. An interested person in making money on Ebay should always put their bid in on any item that is a penny and watch those items that are under a dollar. When an item is bought for such a great price, then it needs to be sold for at least double the price, considering that Ebay will take a percentage and shipping will cost. For example, a key chain bought for $0.01 and sold for $1.00 and shipped for $0.65 will yield an approximate Ebay fee of $0.12. This keychain will profit the second seller $0.23. This does not sound like a lot, but this is one transaction. If this is multiplied out, the profit is much greater.
A surprising method of profiting from Ebay is for a buyer to gain Ebay “bucks” as he/she buys. If a person buys a $500 IPhone 5s and sells it for $600, they are going to profit $100 – $60 (Ebay fee) – $20 (shipping), which equals $20. However, the buyer is also going to profit 1% in Ebay bucks, which can be spent like cash on Ebay every quarter. The IPhone 5s is going to yield a profit of $20 plus $5 in Ebay bucks. Ebay also has promotions during the course of the year where they will offer double and triple bucks.
Credit cards with rewards offer the third option of making money buying and selling on Ebay. A credit card that offers 1% cash back that is used in the IPhone 5s transaction is going to yield $5 to bring the profit total to $30 for one transaction. Some credit cards offer rewards in points, that can be redeemed for merchandise when a certain point total is accrued.
Buying and selling on Ebay can bring a good income in, providing the buyer/seller uses a rewards credit card, and looks for higher ticket items that can bring a profit so the Ebay bucks can be taken advantage of.