Running an eBay Consignment Store
Thinking about Starting an eBay Consignment Store or Resale Shop then you will enjoy watching a behind the scenes look at running a successful online consignment business. Check out episodes of the VH1 reality series House of Consignment for day to day operations of an eBay Consignment Store. House of Consignment is about a real life Chicago based eBay consignment shop called eDrop-Off which resells nothing but designer clothing, shoes, jewelry and handbags. The owner, Corri McFadden, started the business right out of fashion design school and has grown it to a multi-million dollar per year of sales and she has 30+ employees. They offer a “closet clean out” service where they travel to a customers home and take away goods to sell and help them purge old items from their closets. The website says this company charges 40% commission.
Watching the show on TV was really interesting. I don’t know much about designer items, but I couldn’t believe how low some of the stuff was selling for compared to what the person originally paid. Some items were shown as costing thousands of dollars retail and they only resold on eBay for $400-$600! I didn’t realize those designer clothes were THAT expensive. Also, for fashion items, it’s best to sell items during the season when they would be worn in. So coats should be sold during winter and swim suits during summer. If you are a fashion hoarder and need to purge some items or trade in old styles for new trends, this could be a business or service for you.
Here are some steps you can follow to sell items on consignment online:
- Choose the items you want to sell. Make sure they are in good condition and are in demand.
- Research consignment websites or platforms that are popular and have a good reputation. Look for ones that specialize in the type of items you are selling.
- Create an account on the website or platform you have chosen and follow their instructions for listing your items. Be sure to include detailed descriptions and high-quality photos of the items.
- Set the price for your items based on their condition, popularity, and current market value. You may need to do some research to determine the right price.
- Once your items are listed, promote them through social media and other online channels to increase visibility and drive traffic to your listings.
- Respond to any inquiries or offers from potential buyers promptly and professionally.
- When an item sells, pack and ship it carefully and provide tracking information to the buyer.
- Once the buyer receives the item and is satisfied, the website or platform will release the payment to you, minus any applicable fees or commissions.
- Repeat the process with new items as needed to continue selling on consignment.