Time for spring cleaning! Why not sell those valuables that demand a better price than what you would get if you sold them in a yard sale. So you look to eBay. While selling on eBay is a great source of extra income, be prepared to work! Be prepared for hostile comments from buyers! Be prepared to get a lesson in internet business!Be prepared to re-think this….
I would encourage, almost insist that you read as much as you can when you set up your account. You will need to understand selling limits, funds verification, funds availability, their charges and the difference between selling styles. eBay offers many choices, so read the fine print. Make yourself familiar with their many screens. Here are some vital and unforeseen challenges you may not know about but are better received upfront, than later on.
Name changes, try not to re-invent yourself more than you need too. eBay keeps a history for buyers and sellers to see that show your name changes. It can cause a buyer or seller to feel there is something you are hiding if you change your name too much. This can be an open door for attacks from unhappy customers. Set up a business eBay account rather than a personal one. My early experience on eBay had a very unstable buyer hunt me down through social media after I blocked her on eBay. I finally had to call eBay and report her. Keep eBay “business”. Get a business email just for eBay and PayPal communications. Do not tie any of your personal information to where a buyer or seller can bully you.. because they will.
Listing fees, most certainly when you list an item and it sells, besides the listing fees, which vary depending on how many pictures and categories you list in, eBay gets 10% of your sale. That’s 10%! Quite a bit. Also, you have to be careful to use your own pictures. While some sellers will mark in the very fine print (if they know where to find it) that it is “OK” to use their pictures, others are very hostile about it and will report you, even contacting other members to start trouble. Use your own photos.
Many items cannot be sold on eBay and some have quantity limits such as gift cards and jewelry. Be weary of these types of listings. When shipping items, you only have 5 days to cancel a paid for shipping label with USPS. After that, you are out your money. Some items cannot be insured by the USPS and some forms of packaging cannot be used with tracking or signature confirmation. These options cost you additional so be cautions. If you chose to use UPS,the shipping will not be accurate as they don’t offer dimensional weight, only actual weight so there is a chance that your buyer will have to pay additional shipping to receive their goods. This almost always opens a claim and promotes bad feedback.
Selling limits, watch these because in the event that you end a listing, you do not get credit back on your current selling month. So basically if you list a pair of shoes for $50.00, then change your mind and end the listing and your selling limit is $10,000.00. You now only have $9,950.00 available to list even though you never actually sold the item. AND you will not get those listing fees credited back to your seller account. So eBay makes money whether you do or not. Make sure you have the item to list and that you actually want to sell it!
In the event that you need to increase your selling limits, eBay will consider this only once every 30 days and they decide what your limit is.
Comments, my biggest issue with eBay! If someone goes to leave you bad feedback, it is immediately available to be viewed by future buyers even if you did nothing wrong. It lowers your feedback score and is like getting an F on your report card. Basically, you are guilty until proven innocent. AND eBay does not normally remove bad feedback. They will if you spend hours calling and go through the many steps to satisfy their guidelines, but even then, there is no guarantee it will be removed. In the event someone opens a case against you for whatever reason they have, the funds for that item listing are immediately held by Paypal either putting you in the negative or deducting it from your available account balance. (this is really bad in the event that you needed those funds).
So that brings us to the monies paid to you via PayPal. Another tricky area is when PayPal receives your funds, if you are new to eBay or PayPal, they will keep a percentage as well as possibly holding funds up to 21 days due to no history and the Terrorist Act. This can be very upsetting especially if you need your money right away or you are in a predicament where you have to refund.
Funding information, some people will link their personal checking account to eBay and PayPal. I strongly urge you not to do this just because in the event of a dispute, PayPal will hold the funds and if they aren’t there, they will go to your back up funding source. If your car payment or mortgage is due, this is a recipe for disaster. Not too mention, if you use your debit card for tons of little transactions for coffee and little things here and there, it could really rack up the overdraft fees if your checking account goes into the negative due to a PayPal dispute.
PayPal never stops! In the event PayPal tries to draft money from your checking account/back up reserve, they will not stop until they get their monies. So, should you get popped with a $26 fee, they won’t stop after presenting twice like the policies with most checks and debit cards. PayPal just keeps going after their money. AND if you try to call them, you will have a long wait time, because their phones are “always experiencing a high call volume”.
These are a few little “quirks and challenges” I have experienced as a long time seller on eBay. I hear from people all the time who need help maneuvering through their menus. It is a business and much like any business, there is plenty of fine print and pages that you need to read and understand.