An entrepreneur who earned six figures as a teenager by selling on eBay has shared his top tip for making a significant profit on the online auction platform – and it’s surprisingly straightforward.
Joseph Holman, the man behind sustainable door company Green Doors, was able to buy his first Porsche with the money he made from selling on eBay. He earned over £250,000 in his teenage years, earning him the nickname ‘the eBay king’.
Now, he has revealed the secrets to earning a substantial income using eBay as a side hustle, offering valuable advice on listings, key considerations, and more.
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According to Joseph, there is one strategy that can help you achieve the ‘highest possible price’ for your items. His eBay journey began at the age of 12, when he used his father’s account to sell magnetic ‘stick and ball’ games he had bought in bulk with his pocket money, reports the Express.
He recalled: “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.”
At 17, he bought a car, which enabled him to make longer trips and increased his income to £50,000. Joseph said: “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.”
For those looking to rake in cash through eBay sales, Joseph has shared his top strategy. He disclosed: “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.”
Sprucing up the items to look their very best before listing is crucial according to Joseph. He advises sellers to upload multiple high-quality photos and even include a video if possible to give potential buyers a complete view of the item.
And he says the name of your listing is so important too: “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.”
Moreover, he recommends sellers to find out the RRP of what they’re selling, take a screenshot and include it in their listing to show buyers the bargain they’re getting.
Labelling eBay ventures as ‘the quickest and easiest money you’ll make’, he encourages everyone to jump on the bandwagon: “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, following a recent decision to eliminate private seller fees, Joseph sees this as an overlooked chance to foster more eco-friendly habits.
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.”