Ebay does a lot of business globally every day. Last year, in fact, eBay sold $38 billion worth of goods and services. 14% of all online transactions are done through eBay auctions. 45,000 people buy products through eBay every day, and it’s only growing as eBay expands and enters new markets. eBay offers a tremendous amount of opportunity for all business-minded people.
So what are people buying on eBay?
The truth is that people are buying anything and everything. Of course, there are some markets that are more popular than others. The Billion Dollar Deal takes place in the following categories:
· Clothing. On eBay land, an item of clothing is sold every three seconds. Much of this clothing is worn with care, bought on clearance, or has been sitting in a closet for years. Power Sellers typically buy wholesale and sell retail.
· Electronics. This covers a lot of technology: televisions, broken equipment for parts, outdated computers. A digital camera is selling every minute on eBay, an important thing to know if you’re constantly upgrading your own technology at home.
· Collectibles. This is the niche lover’s dream. Avid collectors of antiques, artifacts, pop culture, and even used dental equipment flock to eBay to compete for the next addition to their collection.
· Jewels. People buy costume jewelry, handmade jewelry, wedding bands, precious stones and antiques. The profit margin is usually much better than what you’ll get at a real estate sale or pawn shop.
· Sports articles. Every day someone throws in the towel and gets rid of that unused abdominal bar, weight bench, or boxing glove. There always seems to be someone else who is eager to take on that sport or activity.
· Cars. This is the highest grossing category on eBay by far. eBay sells more cars in one morning than most car dealers sell in a year. This is why many car dealers take their hard-to-sell trade-in vehicles and put them up for auction on eBay. Other car sellers on eBay have turned their fixer-upper mentality into a profit by going to local government auctions, replacing parts, and then auctioning off the car to the highest bidder.
No matter what you’re selling on eBay, there’s a market for your product. These categories will give you an idea of where the most common earnings come from, but don’t think you can’t fit in a different category. There is plenty of room to develop and test new products on eBay and find your own place in the marketplace. Just do your research, be creative in your marketing, and make sure your auctions have good descriptions and accurate images. And if something doesn’t sell, you can always switch to a new category or change your product lines. In many cases, you can change your entire approach overnight! How many offline retailers can do that?
