A 10-year-old partially eaten grilled cheese sandwich bearing the likeness of the Virgin Mary for $28,000.
A private jet for $4.9 million.
Certainly, then, enterprising inventors could sell their products at the world’s largest digital swap meet.
Inventors, in fact, have a leg up on many would-be eBayers, according to Brad and Deb Schepp, authors of eBay Power Seller Secrets: Insider Tips from eBay’s Most Successful Sellers (McGraw-Hill; December 2007).
A “Power Seller” is a coveted title earned by selling a large amount over an extended period time, while also maintaining superlative feedback from buyers.
“Everyone on eBay is confronted with the question, ‘What do I sell?’” says Deb. “That’s one of the biggest things going for inventors – they’ve solved the sourcing issue.”
Granted, you need a manufacturer and inventory. Yet for inventors blessed with that combination, “You’re way ahead,” says Brad.
Part-time inventor Kevin Boyd held a parade of joyless corporate jobs over the years – sort of Dilbert-meets-The Office, to hear him describe it – before he found financial freedom on eBay.
The Snoqualmie, Wash., resident left the corporate world in 2003 and started Preferred Discounts LLC, an eBay business selling all kinds of items to businesses and consumers. He also offers an online instructional program that teaches people how to be eBay Power Sellers. He later began selling on eBay his Pipe Guardian, an invention that holds pipes for those on the go.
His lifetime eBay selling record is perfect. He’s never received a negative remark from a disgruntled buyer, according to the site. Like pitching a no-hitter, it can be done, but it takes a lot of work.
Companies large and small use eBay to test-run products. So there’s no reason inventors can’t as well. In fact, rather than building a Web site to sell your invention, Boyd recommends first turning to eBay.
With eBay, you have a ready marketplace at your fingertips. All you need are great keywords and potential customers will find you.
“Converting those browsers to buyers is up to you,” he says. “If it is a great product at a fair price, it will sell.”
On his Web site, Boyd celebrates his own good fortune (training4auctions.com).
“Thanks to eBay, I am independent,” he says. “Best of all, for the first time in my professional career, I can honestly say I now love what I do for a living!”
Great sellers such as Boyd know the tricks of the trade:
• Don’t list your wares entirely in uppercase text.
• Always offer money-back guarantees.
• Use professional-looking photos.
Power Sellers are also aware of the hazards, including language barriers, finicky customers, and fraud.
Power Seller Eugene Fleisher sells voice over Internet protocol and related components on eBay. The San Francisco-area resident says about half his business is from overseas.
“The hardest part,” he says, “is dealing with people and managing their expectations.”
Over the past three years, he’s also seen his share of check kiters and those with phony PayPal accounts.
“There were cases when I did my due diligence and still got scammed,” Fleisher says. “But the percentage of loss is negligible.”
Indeed, with more than 270 million eBay users spread across some 40 countries, it’s too large an opportunity to ignore.
Deb Schepp notes you can set up a business for the cost of buying a computer and an Internet connection.
“eBay,” she says, “is the greatest business incubator humanity’s ever seen.”
EBAY AT A GLANCE
- Total sales on eBay last year: $59 billion
- Percent of net revenues from overseas: 54
- Number of listings at any given time: 113 million
- People who use eBay as primary or secondary source of income: 1.3 million
