Tag: Ebay

Jun 30

eBay Store Over a Regular Sellers Account Advantages

eBay store

eBay Store Advantages

Advantages of having a eBay Store over a regular sellers account – Which One Is Right For you

For those that don’t know, eBay is one of the biggest consumer to consumer online auction and shopping site in the world. eBay is open to almost anyone that wants to buy something new or used and anyone who wants to sell something new or used. The limitations are endless, with few exceptions. The only requirement for a buyer is to have a physical shipping address and a credit card or PayPal account. For sellers there is only three more additional requirements and that is product, paypal account and a credit card linked to eBay for billing..  Its up to the sellers discretion if the product he or she is selling is new, used, working or not.

Startup sellers are only allowed to list items in a Action format with Buy it Now option. They are subject to 10% fee from item final price and shipping and handling cost collected and 2.9% + $0.30 of the total amount received by the seller. At first glance this does not seem to be a lot but it is. One item sold on eBay comes to 13% deduction. This means if you sold something for $50 you will only end up with $43.50. This is not bad if the item you sold had no value to you or you got it for free. If you had to purchase that item for resale than 13% is usually your income percentage from a item.

There are millions of sellers and buyers on eBay so the competition is stiff. It is easy to make profit if you are trying to sell something you no longer need or you got something for free. But if you are trying to make a living of eBay than its another ball game. eBay however made some progress to help volume sellers  by reducing sellers fees and giving them more option in selling.

IF you have been selling for a while and you managed to sell over one hundred items which generated over $1,000 in sales in one year that eBay has given you a option to open a eBay store.  The store is intended for volume sales and by doing that you are eligible for a slightly lower sales fee rate. To open a eBay store is not free. The basic store starts from $19.95 per month all the way to $199.95 per month, and they each have their own requirements. By opening your own eBay store you are able to reduce final sale fee that’s normally 10% to lower rate that varies from 4%-9% depending on what type of item you are selling.

If you sell few items per month than a store is not for you. If you have a huge inventory then eBay store might be for you. Because it cost $19.95 per month to have a store means that you have to make more profit in order to offset  the $19.95 fee from the 2%-6% in savings that you will get from having a store front.  At the same time you will get few perks options that a normal seller will not have.

eBay Store Perks:

  • Lower final value fee
  • Listing more items for free (basic 150, Premium 500 and Anchor 2,500)
  • Listing item once till it sells at fixed price (good-till –canceled)
  • Impression that you are a professional seller.
  • Offer SALE just like you would see in a store or a major site (20% OFF)

It is advised that in order to make your eBay store profitable you will need to have at least 50 items listed on eBay at all times and selling a at least 15 items per month with 15% profit margin in order to take advantage of the lower rates.  If you don’t have that kind of inventory and are selling less then you would probably be better off with a regular account.  Most importantly you need to make sure you have good feedback rating as this can lower your profit dramatically. IF you think that you can handle larger volume you can try Basic store to see if it is right for you.

Permanent link to this article: https://teckbay.com/advantages-of-having-a-ebay-store-over-a-regular-sellers-account/

Jun 05

eBay Hacked – 145 Million Users At Risk

eBay website Security Compromised

EBAY Security Compromised

eBay Online Auction Website Hacked – 145 Million Users At Risk, What happened to eBay security?

Popular across the world, eBay users expect a certain level of privacy and security when shopping or selling on this site. Recently, however, users were taken by surprise when it was revealed that hackers got into customers data and put a lot of people at risk. While the executives at eBay do not think that anyone is at risk, there is no saying, at this point at least, what the damage could have been or was done. They are currently updating their security systems and trying to make sure that this does not happen again, though they are not taking steps to compensate any users for this breach.

Users were disappointed by eBay to find out that there information was taken by hackers, yet they were not informed of the attack till two weeks after news of the attack surfaced. Two weeks after eBay had asked users to reset the password to prevent stolen data from being used. Till this day eBay has failed to properly inform users of what data was taken and if any of it was used or has potential to be used. Current users have reset their passwords but there are sill millions of users that are not regularly active and have not changed there password

Around 120 million active users and additionally millions non-active  are on eBay. All of these people use this site to purchase or sell goods, and many have their information available on their profiles. The hackers were able to access all of this. They did this by using information of three employees, which gave them access to eBay and allowed them to find their way to user data. This was discovered in early May, but there was no word on the incident until very recently, when it was realized that there had been movement to the user data. Afterwards, emails were sent out to users to notify them of what had happened and to urge them to change their passwords immediately.

There is a big reaction to this, and numerous individuals wanting eBay to compensate users because of this breach. A few states are currently investigating eBay and there is the desire of credit monitoring services offered to users. People want eBay to offer some type of apology in the form of a service to make sure that users have peace of mind. Many are worried, and waited quite a while to receive their notice, so the response is to be expected. Executives with eBay, however, are not offering any type of compensation or service to their users.

The reason for this is the fact that eBay does not see this affecting users. While there was the initial fear that it might, there have been no signs that it has. EBay has stated that there are no signs of harm to users, but that does not mean that everyone is safe. Since this is still a rather recent event, nothing may happen for a while. Until then, eBay is working to improve its security so that there is a lower chance of someone getting in again.

Permanent link to this article: https://teckbay.com/ebay-hacked-145-million-users-at-risk/

Dec 23

Buyers frustrated with EBay and now even the Sellers – What this means!

 

Eebay

Ebay

Buyers frustrated with EBay and now even the Sellers – What this means!

 

 

EBay has come a long way in last 3 years, new policy changes, basically changes to the way EBay does business o every day bases.. I myself am a eBay seller and I do allot of my shopping on eBay as well and I don’t like what is happening on both ends.

As a seller I feel like I am just getting taken for a ride by eBay. EBay decides everything to favor EBay. No matter what you do or not do, their actions are always the actions that reflect best on EBay.

Few biggest changes is that the Buyer is always right, PayPal is the only way of payment and increased fees. Buyers think that only the seller pays the fees, and that is partly true, but what buyers don’t realize is that those fees impact buyers in many ways.

Sellers bay on average 12% fee on a sold item. The fees varies from item to item but here is the basic brake down.

Fee for listing a item: $0-$2.50

Sales fee on item: 6-10% of final sold price

Shipping fee: 6-10% on total shipping cost charged by seller

PayPal payment fee: 2.9% plus $0.30 per transaction, 3.9% transaction fee plus a fixed fee based on currency received.

So lets get a visual on the fees. So lets say I am selling a new IPhone 5S and I normally is costs $600 for a new one without a contract.

So I want to sell it for $600 as well and I will ship it priority mail for $9 + $7 + $16 for signature and insurance. Then I need to pay the fees if It sells

Listing fee:  .75 + (final sales fee 10%) $60 + (Shipping fee 10%) $1.60 + (PayPal payment processing 2.9% from $616(total money transfer) $18 = an the total is

$79.35 in total fees. That is a lot!!!

New Life Auctions has created fee calculator that you can play around and determine what your fees are

So what does this mean to A Buyer. If I am selling a item I am selling it to make profit, not take loses, so what I will do is increase the price in order to offset my cost of fees. I may not sell a item fast as I originally wanted but evenly I will sell my item at a higher price. What a lot of buyers don’t realize that you sometimes pay more on eBay than just going to your local store.

What you are also seeing is that more and more big companies start to sell on EBay, kicking small sellers of as they can no longer compete.

In few more years you will see that the only sellers on eBay will be Tigerdirect, Best Buy, Buy.com and so on.

If you have been on eBay for the last 10 years I am sure you noticed that there are no more great bargains on used electronics. The only thing eBay is still good is on buying electronic accessories.

Permanent link to this article: https://teckbay.com/buyers-frustrated-with-ebay-and-now-even-the-sellers-what-this-means/