The so-called world’s online marketplace, eBay, is oftentimes a tough market for sellers, especially in the face of highly competitive niches and a track record of rising listing fees. However, there are still plenty of active buyers on eBay and so, if you are able to source closeout products that do not have high competition on the site, you could make quite a nice return. I say this in light of a recent announcement that eBay will be making changes to their final value fee (FVFs comprise a large portion of the company’s profit, as it is added to every item sold) by altering it to reward those who offer cheap shipping on their products.
eBay must be trying hard to attract, keep and perhaps even re-attract sellers as they are also going to make auction style listings free of charge (for up to fifty items per month), as well as make the “BIN” or “Buy It Now” button/option free (initially) on those auctions. Sellers will be charged for the listing and BIN option ONLY if their auction is successful, so if you do not sell you do not get charged. Notably, while these changes are for sellers who do not have an eBay store, those who do have a store will still see reduce FVFs.
Sellers can look forward to seeing these changes implemented between April 19 and May 23. Furthermore, come July 6th, there will be a decrease in the final value fees for non-auctions, fixed priced listings.
eBay is also making changes to improve both the seller and buyer experience on the site, such as an updated shopping cart and continued discounts for sellers that eBay considers “top rated”. There are a few changes that sellers may not appreciate and one specifically that you should keep in mind if you are considering selling on eBay for the first time — sellers who are new to eBay or do not have much of a history on the site will see that buyer payments to them are delayed for a set time period to better ensure that the transaction is successful, and more so that the buyer actually receives the item. While this may help to cut down on fraud, it is an inconvenience to new sellers, and so if you cannot afford to wait for payment you will need to take this into consideration before listing on the site.
You can read more about these changes on the eBay announcement page here.
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