A PROFESSIONAL eBay seller has revealed how he turned a £1 purchase in Poundland into £513 in just seven days – and you can too.
Zain Shah specializes in making money online and regularly shares videos on how people can earn passive income from YouTube channels.
In a recent video he revealed how he can turn a £1 bargain into £500 by reselling Poundland products on eBay.
Before doing anything else, Zain recommends checking the Poundland website to see what products are available and then see if similar products are selling on eBay.
He discovered that a lined hanging basket for £1 in the store was being sold in packs of two on eBay for £13.10.
Zain says selling two is a good idea because postage costs are about the same, but you can charge a higher price.
The carts are clearly in high demand as the seller’s listing shows they have sold 86 units.
Zain then used a eBay / Paypal Calculator to find out the seller’s profit after shipping costs and eBay commissions.
For every two units sold, the seller earns £5.97.
“That guy sold 86 units in a week, he made £513.42 which is a very, very decent profit,” he said.
As long as the products are unbranded, you can include a generic description in both the listing title and product description, he said.
If the item is branded then that brand name should be included in the interest of full disclosure by the buyer.
This buy-and-sell strategy can be applied to any number of products, says Zain.
He added: “If they don’t sell, keep the receipt, you can always return the item, it’s not a big deal.”
Of course, there are risks to be aware of, and it’s important to keep in mind that just because a seller got lucky with an item, it doesn’t mean you have too.
Be sure to factor in eBay’s postage and fees before listing anything, or you could end up out of pocket.
There are many success stories on eBay – like the woman earned up to £30,000 selling her clothes on the Web.
But there are also a lot of failures – like a seller who loses when sold his new Jane Austen note for £10.
It’s important to be honest about what you’re selling, otherwise you risk getting a negative review, which means people are less likely to buy from you in the future.
Setting an entry price can help ensure you don’t lose money.
But if you are going to return unsold items, make sure you check return policy – they are not always obligated to give you a refund.
And don’t forget, there are more places to sell your stuff online than just eBay – we’ve reviewed best place to sell different items.
https://www.thesun.co.uk/money/17444801/make-500-profit-poundland-one-week/ How I turned a £1 bargain in Poundland into £513 with eBay selling tricks