Byline: Lynn Dralle
Had enough of the rat race? Maybe it's time to start your own business -- and many people have had success opening shop from within their homes. In our Inside Job special feature, we've gathered information you can use to learn the ins and outs of doing a home-based business right.
Lynn Dralle , author of "The Unofficial Guide to Making Money on eBay" (Wiley, 2006), is the self-styled "Queen of Auctions." She was online to share tips with folks who want to do online auctions full-time as well as those looking to clean out the garage.
For more on entrepreneurism, visit last year's Small Business 101 special feature. And there is plenty more information on jobs and careers in our online Jobs section .
The transcript follows below.____________________
San Diego, Calif.: The San Diego Union Tribune ran an article about a year or two ago regarding making a sizable income on eBay. It stated that eBay offered a medical plan to those making a career out of selling on eBay. Is this correct and whom do I contact to get more info. about this?
Lynn Dralle: Dear San Diego,
Yes, if you are an eBay power seller there are health plans available. In fact, my health insurance is through the eBay plan and it is quite reasonable for me and my two kids. An eBay power seller sells at least $1,000 a month for three months and I believe must have 100 positive feedback points. For more information, click on the live yellow help buttons on the eBay home page and they can get you in touch with the right people. I learned about the health plans at eBay live. The next eBay Live is in Boston in June of 2007. I will be there! Stop by and say hello.
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Washington, D.C.: How does one get started selling on eBay? Where can I find good and reliable information?
Lynn Dralle: The library is a great place to start. There are a ton of great books out there about eBay and Amazon.com carries all of them. Also, my Web site has a lot of free information and you can access it at http://www.thequeenofauctions.com. Good luck to you. eBay is a great way to make a living!
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Hornell, N.Y.: What is the most common mistake most "newbies" make when starting to sell on eBay?
Lynne Dralle: Hi there. One of the most common and devastating mistakes that newbies make is that they only list a few items. They may only put five things up for auction and then they are discouraged when nothing sells the first time out. eBay is a numbers game and you have to list a lot of items to be successful. I list at least 100 new items each week. Good Luck to you!
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Upper Marlboro, Md.: How well does original artwork do on eBay, in your estimation? I don't mean famous artists, but new or regionally known folks.
Lynn Dralle: Hi there. I have heard of and seen a lot of artists do quite well on eBay. One lady was a watercolor artist and she developed a huge following on eBay. My mom was always trying to buy her stuff. Another artist who does quite well sells handmade beads. She wrote an article about selling your crafts on eBay and it is posted for free on my Web site. Check it out at www.thequeenofauctions.com Good luck to you.
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Oklahoma City, Oklahoma: With garage sale season almost over, other than thrift stores, where do you recommend the purchase of collectible merchandise? Thanks.
Lynne Dralle: Hi there. Garage sale season is over in certain parts of the country, but there will still be charity, church and estate sales. Make an effort to check your paper every Saturday. Out here in the desert during the hot summer months -- it could be considered off season. But because of that, not a lot of shoppers are out and I got some great items this summer because of less competition. Also, consider taking a weekend road trip to towns close by and check out their thrift store. I scored this summer on a mini-vacation to Sedona, Arizona. Their thrift stores were amazing. You can also post wanted to buy ads on Craigs List, in your local newspaper and nationally. My grandmother used to say "There are always places to find something to buy if you have the money to spend." Good luck to you!
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Lusby, Md.: Lynn: I loved your free teleseminar that you had last week and wish it could have been longer. I've been selling on eBay since 1998 and there is always new stuff to learn, be kept aware of, and hear how others "do it the eBay way." So ... my question is, when deciding a starting price for your item, do you start low and hope for a bidding war or start high and hope you get a bid or two. Or somewhere in between?
Lynn Dralle: Thanks for listening last week, I appreciate it! I always start my auctions at $9.99 and hope for the bidding war. It makes listing faster and I don't have to do research -- eBay bidders do it for me. I only list things higher when I know that it will take a specialized buyer, or I paid a lot or it has sentimental meaning to me. I hope that helps.
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