An entrepreneur who made a six-figure sum as a teenager by selling on eBay has shared his top tip for making serious money on the online auction platform – and it’s simpler than you might think.
Joseph Holman, entrepreneur and owner of Green Doors, managed to buy his first Porsche using the money he’d made from eBay sales. He ended up making more than £250k in his teen years, earning him the nickname ‘the eBay king’.
Now, he has revealed the secrets to earning big while using eBay as a side hustle, offering sellers some valuable advice for listings, what to remember, and much more. And he says there’s one thing you can do that will get you the ‘highest possible price’ for your items, reports the Express.
Joseph’s eBay journey began when he was just 12 years old, using his dad’s account to sell magnetic ‘stick and ball’ games he had used his pocket money to buy in bulk. He said: “I ended up netting a profit of around £2,000 in just six weeks and, from then on, I was hooked on buying and selling anything I could.
“I had around £30k saved up from my eBay profits before I was 16. At 16 I was making around £20-£30k a year, just from the side hustles. I had a moped and used it to make deliveries and even collect items.”
He then bought a car at the age of 17, allowing him to make longer journeys and pushing his income up to £50,000. Joseph explained: “So, by the time I was 20, I had made over two hundred grand, all from selling things on eBay.
“My mates started calling me ‘The eBay King’ and I was selling everything and anything from soaps to statues, baths to bikes, you name it.”
He then revealed his number one strategy for maximising profits on eBay: “Always list items as ‘Buy it Now/Best Offer’ on eBay so you can get the highest possible price and see how much interest you get. This allows customers to quickly purchase your product, rather than waiting for an auction to end, which they might forget to bid on.”
Emphasising on presentation, Joseph said that ensuring cleanliness and visual appeal is vital. He suggests taking several high-quality photos and a video of the item, allowing potential buyers to view the product from every conceivable angle.
Joseph went on to say: “The eBay title is crucial, especially the first four words, as they affect the algorithm. Make sure to use relevant keywords first and use the entire space available for the title.”
Furthermore, he recommends checking the retail price of the product you intend to sell, capturing a screenshot, and displaying it in your listing so customers can see the savings they’re making.
Lastly, Joseph lauded the ease of selling on eBay, stating: “Everyone should try to sell their unwanted items as it takes little time and you can earn extra cash. From selling unwanted goods you can make per hour considerably more than the average hourly wage.”
However, Joseph believes that the recent decision to eliminate private seller fees was a missed opportunity to encourage more sustainable practices.
He commented: “It’s a quick and drastic step and will have a big impact. I think it will be easier for people to make a profit and to sell newer items. This might be good news for some sellers but isn’t great in terms of sustainability. It would be far more sustainable if there were zero fees on second hand items, but a fee for new items.”