What is eBay?
eBay is an e-commerce site where visitors can buy and sell items. All kinds of items are offered for sale on eBay. Individual sellers can sell household items and electronics that are no longer wanted to make money. Some eBay sellers buy large quantities of imported items and sell them individually at a profit.eBay is a good place to look for rare or unique items since millions of items are for sale from around the world. eBay is a good opportunity for sellers to reach a large market to get the best price for their items.
What Selling Formats are Available on eBay?
eBay started off selling through an auction format. Items were listed at a starting price, and buyers could bid in an auction by offering a price higher than the current high bid. The person with the highest bid at the end of the auction wins the auction.eBay has added other selling formats, such as "Buy It Now" (BIN) where buyers can instantly buy an item by offering the BIN price. Buyers like this format since they do not need to wait until the end of the auction to find out if they will get to buy the item or not.
Another option is "Best Offer" where buyers can make the seller an offer and the seller can accept or reject the offer. This is a good selling format for items that are difficult to price.
How Much Does it Cost to Sell on eBay?
The final value fee from eBay is 10% of the final price. If you accept PayPal for payment the PayPal fee is about 3% of the selling price.Recommended Reading:
What is Etsy?
How to Ship Sold eBay Items
Avoid the Nigerian eBay Scam
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