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what are the steps for selling an item on ebay?

Posted on 2014-09-30
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Last Modified: 2014-10-06
Hello and Good Evening Everyone,

            While I have made many purchases in the past on ebay, I have never sold any commodity on it which brings me to the purpose of this question.  What are the steps for selling an item on ebay?  Any link outlining the step by step procedures or any multimedia clip from youtube.com addressing this question for a beginner like myself will be greatly appreciated.   The item I am interested in achieving bids on is a U.S. 1799 silver dollar.  

              Thanks in advance for any shared feedback given to this post.  

              George
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Question by:GMartin
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Assisted Solution

by:Dave Baldwin
Dave Baldwin earned 50 total points
ID: 40353566
Go to eBay.  Click on the word 'Sell' at the top left of the page.  Login if you need to.  You will then see a page that tells you all about how to sell on eBay.
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Larry Kiterling earned 250 total points
ID: 40353612
It's as easy as 1, 2 , 3
Ebay tends to change their selling page often to keep up with the demands of increased sellers. Don't be those guys who sell the items for .99 then charge 50 for shipping.  Below are two links. The first gives you a quick overview of how it's done and the second is Ebay's actual directions to sell. You'll need to setup a merchant account with paypal/ebay and connect a credit card/bank routing to it before you actually start selling.

http://ebay.about.com/library/bl_vis_sellsimple.htm
http://pages.ebay.com/sellerinformation/learn-to-sell-online/how-to-sell/
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Author Comment

by:GMartin
ID: 40356225
Hello and Good Evening Everyone

        Thanks so much for the tips and especially the resourceful links.  After reviewing the information, I do have a few followup questions.   Is there a cost associated with setting up a merchant account with ebay and paypal?  If so, how is the cost or fee calculated?  With regards to the actual advertising cost, how is it determined?  I am fairly sure there is a difference in advertising cost as determined by the location the ad is taking up on ebay.  I have heard that advertising on the feature page is more expensive when compared to advertising just within a category.  Is the feature page the very first page which opens when the ebay.com homepage loads?

          In closing, I am sorry for so many followup questions.  However, I want to gather as much information as possible to help gain confidence before placing an ad on ebay.  

         George
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Expert Comment

by:Larry Kiterling
ID: 40357127
To be honest, these questions are best meant to find out on your own. Good luck in your venture!
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by:nickg5
nickg5 earned 200 total points
ID: 40358582
Hello again George. I have feedback of over 1400 on Ebay. I'll try to answer your questions as a seller and a buyer.

To sell on Ebay you will need to give them your personal information. You need to link your bank account and open a personal Paypal account. All sellers must offer Paypal in their listing.
The final value fees now on Ebay are 10%.
If you sell your coin for $50 and $10 shipping, then the Ebay fee is $6.00.
The Paypal fee is 30 cents for the transaction and 2.9% = $2.04.
Total fees are $8.04. Your buyer does not have to have a Paypal account to pay you. They can use their credit card. You can not ask for a payment method such as check or money order. You can only accept that if it is requested by the buyer and they specifically request to use that method.
You link your Paypal account to your bank account so you can transfer the funds, for no cost, to your bank. Ebay has become very strict on using tracking numbers. You can create a shipping label using "Ebay" or Paypal. This lets you enter the weight of the package, add insurance if the item is a rare coin, print the label, put it on the package and hand it to your carrier. This saves you the cost to drive to the post office and Ebay gives shipping discounts of up to 10-15% by using Paypal to create your label. It will come with free tracking. If you go to your "sold" items in "your Ebay" you'll see a link to create the shipping label and that process takes you to Paypal too. Why? Ebay owns Paypal.
Seller's can not leave a negative or neutral feedback for a buyer no matter what they did. A buyer can leave you a bad feedback.


Coins get the highest price is they are graded.

Is your coin graded?


You may want to buy something on Ebay some time in the future so having an Ebay and Paypal account has no negative consequences.

Go here:
http://www.ebay.com/sch/i.html?_from=R40&_trksid=p1468660.m570.l1313.TR0.TRC0.H0&_nkw=U.S.+1799+silver+dollar&_sacat=0

Left hand side click on "completed" and you'll see the same 1799 coins that sold = green numbers.
The ones with no green price did not get a bid, maybe the seller was asking too much.

The one you see that sold for only $360 was in pretty bad shape. Fair to poor. If you can post a photo of your coin, we can try to decide what you should ask for it.

Your choices are to open the biddng at $1 or some other price. You can also use "buy it now" for say $2,000 and when you list the item you'll be able to choose to let buyers send you their best offer.
Another way to list it is $500 or "buyitnow" for $650. This lets buyers choose to bid at $500 and hope they win, or go ahead and buy it right then and there for $650 and make sure they get your coin.

If you know the coin is worth $750, and you do start it at $1 to get the bidding process started, you must be watching with 12 hours to go in the auction. If the bidding is too low for you, you can end the auction as long as there are 12 hours or more to go. Once you are inside 12 hours you can not, according to the rules end your item if it has any bids. To do so would cause issues and technically the agreement to sell an item and the buyer to pay for it is a legal and binding contract. But, I have given refunds because the buyer asked for one because they could not pay for it. So, despite being a contract no problems.
On a coin you have to properly describe the condition of the coin with many closeup photos. If it is graded then the grading company has done it for you. You should go to a local area coin shop and ask the process to have your coin graded.

Coins that are graded will bring the highest price.

Ask any other questions you have about selling on Ebay.
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Author Comment

by:GMartin
ID: 40362843
Hello and Good Evening Everyone,

             After carefully reviewing the thorough and easy to follow suggestions in addition to the steps outlined within the supplied links, I am now more confident about selling my old coin on ebay.  

           Many thanks for taking the time to point me in the right direction.  

           George
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Expert Comment

by:nickg5
ID: 40362849
You can sell will a personal account....merchant account not needed.
Also the final value fees are the same no matter:
1. $50 for the item and free shipping
2. $10 for the item and $40 shipping.
It's all the same to Ebay and Paypal, the fees are exactly the same and buyers know the score on that. You bid based on the total $ compared to other similar items.

They give 50 free listings each month and if you do not have one of those your listing fee may be 30 cents. Then during the month they often have specials where you can list 1000's of items and no fee unless they sell.
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Author Comment

by:GMartin
ID: 40362866
Hello

           Thank you so much for your followup information.  I will integrate it with the other tips which are already printed.  By the way, what is exactly meant by reserved price?  For instance, I have heard that a reserve price for an item can be set to prevent an expensive item from being cheaply sold.  Is that true?

            George
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by:nickg5
ID: 40363481
Reserve:

You start the bidding at 99 cents. You want to sell the item for at least $65.00.
So you set the reserve price to $65 and it will not sell until the bidding reaches $65.00.
The potential buyers can not see the reserve price but they know you have one.

Some people will ask the seller what their reserve is. I have often asked the seller to tell me and they do. This helps me decide whether I can bid that high. If the reserve is more than I can afford to pay, then I do not bid.

Your coin is worth several hundred or more pending a photo of it's condition.
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by:nickg5
ID: 40363499
Reserve auctions do have extra listing fees because Ebay would prefer you let the item be sold thru bidding. If the reserve is too high for the people who are bidding they may stop bidding before your reserve is reached. I do not use reserve.
If you do not know the value of your item just list it for $2000 or besr offer. Then the offers will tell you what it is worth or you can do research on coin sites to find the value.
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Author Comment

by:GMartin
ID: 40365117
Hello and Good Evening

           Thank you so much for the great followup tips.  I am excited about getting this started and seeing where it leads.  

           George
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