The key to successfully selling things on ebay is to know your buyers: how old are they? How much money are they willing to spend? How do I attract them to what I am selling? In my case, I try to buy and sell clothes to women of my age demographic (18-35) because I know what types of clothes are in style and what their approximate resale values are. Once I have figured out who my buyers are, I have to determine how to reach them. This usually involves doing research on ebay for articles similar to what I am trying to sell. For instance, if I am selling Gap jeans, then I will search for Gap jeans on ebay to see what they are selling for and what the demand is (i.e. how many bids).
Over the winter, I visited a thrift store during a bag sale and walked away with a shopping bag full of clothes that only cost me $0.25/article. This is another key component to making money on ebay, you have to make sure you will make a profit! Case in point, the ugly Christmas sweater that I previously blogged about. I bought it for $4 and sold it for $9.99, but after all the ebay and paypal fees were deducted, I only made about $4. Yes, I made a profit, but was it worth all the work? So the lesson I learned was, buy cheap! At least that way you know you'll make a decent profit when the item sells.
Of the items I bought at the sale, I was able to sell two so far:
This is an Abercrombie & Fitch mini skirt that I sold for $16.
These are a pair of Ann Taylor Loft cropped pants that I sold for $9.
In summary, I spent $0.50 on these two articles and grossed $25 for a pre-fee profit of $24.50. In the words of Martha Stewart, "That's a good thing!"