eBay Consignments: The Giant Opportunity Hiding on eBay (Part I)

More and more, people are becoming aware that they have potential cash sitting in their closets, attics, and basements. But not everyone has the time or the know-how to tap into it, so these items remain where they are or are given away. Or worse, they're tossed out with the trash. eBay is about to change that.

eBay Consignments are a Growing Opportunity for experienced eBay sellers and a boon to consumers who want to unload their "stuff"

Heres a common scenario:

Renee has a basement full of record albums from the 1940's that she inherited from her Uncle's estate. She has no interest in them, and would love to see what she could get for them on eBay. The trouble is, Renee is not only unfamiliar with how eBay works, but she's also a "technophobe". She breaks out in a rash every time she sees a computer or a digital camera. But Renee has heard something about eBay consignments.

So, Renee asks her neighbor Anne, the eBay whiz, to help her out. Anne does a quick check of recently closed eBay auctions to see what similar items have been selling for. She adjusts Renee's expectations with this information, and the next day Renee drops off her cartons full of records.

Ann takes a couple of digital photos, writes a general description for the lot, and launches the eBay auction. She invites prospective bidders to email her with any questions.

Things go smoothly, and a week later the lot is sold. Renee is pleased with her earnings and extremely grateful to Anne. She asks Anne what she owes her for her hard work. Anne, good neighbor that she is, only accepts enough to cover her eBay expenses and tells Renee she can take her out to lunch some time.

An Opportunity Seized

This kind of informal arrangement has been going on between members and nonmembers of the eBay community for several years. Many auctions will state that "I'm selling this item for a friend", or "a woman in my neighborhood found these in her attic and asked me to sell them on eBay".

eBay, who has a knack for keeping an ear to the ground and spotting to trends, saw a golden opportunity in this kind of arrangement. In 2002, they launched the "eBay Trading Assistant" program.

The program is run on the same basic principal as eBay consignments, only more formalized. Sellers can now advertise themselves as Trading Assistants on eBay, and people with items to sell can use eBay's Directory of Trading Assistants to find someone in their area.

Because of eBay's minimum requirements for becoming a "TA", only those sellers with experience and a good reputation (or high positive feedback ratings, in "ebay language") have the privilege of selling items for others.

Benefits for Everyone

The system benefits the Trading Assistant by expanding their reach far beyond the next door neighbor. When a seller joins the Trading Assistants Directory, he or she is telling the world that they are willing to sell for others.

For those seeking out eBay consignments as a means to cash in their "stuff", the system offers an "official" source of experienced eBay sellers and information about how things work.

And of course all of this brings more business to eBay. As always, eBay is simply the portal for consignment selling, not an employer of the Trading Assistant. So each individual "TA" makes their own rules about how they wish to structure their eBay consignments business.

How it Works

Trading Assistants are experienced eBay sellers who have indicated their willingness to sell items for others for a fee. People who want to hire a Trading Assistant can search the Trading Assistant Directory to find someone to sell for them. All the terms of how the services will work are negotiated between Trading Assistants and their clients. You can become a Trading Assistant if you meet some basic requirements (1 past sale in the last 30 days and a feedback rating of at least 50 with fewer than 2% negative feedback points).

Cost and Requirements

Currently, it costs nothing to become a Trading Assistant and be listed in the eBay consignments Trading Assistant Directory. eBay has not expressed any intentions of charging for it, but they do reserve the right to change their policies.

To become a Trading Assistant, you need to meet the following requirements:

-You've sold at least 4 items in the last 30 days.

-You have a feedback score of 50 or higher.

-97% or more of your feedback is positive.

-Your eBay account is in good standing.

Note: The ability to join the directory is a privilege, not a right, and eBay can remove the ability of a TA to post to the directory if they receive complaints and/or find evidence of unprofessional behavior.

Interestng Facts

According to Walt Duflock, eBay's director of the trading assistant program, consignment selling has really taken off since the program's inception:

-The TA Program began in February 2002

-There are more than 50,000 registered trading assistants worldwide as of August 2004

-"Collectibles" is a very active category for TAs and TA clients

How to Find or Become a Trading Assistant

To find a "TA" At eBay, you'll be asked to enter your ZIP code code to find a Trading Assistant near you who can handle your ebay consignments. To find someone who specializes in particular items or services, you may select an item category or use their "Advanced Search" link.

Provided you meet the requirements listed above, you can fill out eBay's online application to become a TA and start your own eBay consignments business right away. Although you can run your business however you choose, and you're not employed by eBay, they do provide some assistance:

eBay provides extensive resources for the trading assistant program, among them Trading Assistant Worshops such as the recent one entitled, "Getting the Most Out of the New Trading Assistant Directory". The "Trading Assistant Toolkit" is an extensive directory of tools and education to help Trading Assistants market their services better and find more clients.

eBay also offers an Advertising Reimbursement program, which helps PowerSellers market their products and services offline by subsidizing a percentage of their

advertising efforts. And eBay has produced at least two training manuals outlining Best Practices for marketing, selling, fincance, efficiency, and working with clients.

With all of these resources at hand, anyone interested in eBay consignments, whether to tap into "the money in the attic" or to further their eBay auction success, is not likely to be disappointed.

Be sure to look for Part II, in which eBay takes the program to the next level with the Trading Post.

© Copyright 2004 Carolyn Schweitzer DDS. Dr. Schweitzer was a family dentist for 20 years and is now owner and editor of several websites. You can learn more about where to find specific links to the Trading Assistant and Trading Post programs by visiting her website at http://www.netbrainer.com/site/500041/page/449460.

More Resources

Top 10 Free Online Wholesale Resources
By the time that a product has made it to your local retail store, it's probably changed at least three people's hands, possibly even more than that. And each one of those people had to mark up the cost of the item to cover their investment and make a profit.
How To Cut Your eBay Fees By More Than 90%
Now, are you ready for the REAL TRUTH about selling on eBay?It's simple; don't list too many items for sale using their auction format. Instead, set up one of their stores.
The 3 Minute Auction and Minute Auction Explained
Am I the only person who doesn't know what a 3 minute auction is? Looking for fresh content for my site, I discover that "minute auction," or even a 5, 10 and 30 minute auction is a popular item. Some auction sites may refer to a minute auction as a "Live Bid.
Is Your Trash Cash? 5 Easy Places to Sell Your Stuff
The old adage that says "one person's trash is another person's treasure" never goes out of date. So when you're looking for some extra spending cash and you want to make some space in your home, combine the two endeavors by selling your stuff instead of donating it or trashing it.
Fed Up With eBay?
For many people, their first experience of working online involves selling products on eBay. This was how I got started back in 1998 and I know countless other people that have done the same.
How To Sell Santa's Slip-Ups
Shoppers spent more than $15.5 billion this Christmas on gifts on the Internet alone.
Killer Tips To Succeed With eBay Auction
For just a moment, try to comprehend the power of the Internet. Every day, there are millions of people from around the globe "surfing the web.
Turn Your eBay Experience Into Even More Profit
Everyone's talking about eBay these days. With the frequency of the TV advertising campaigns increasing, and no sign of any sizable competitors the eBay empire is only going to get bigger.
5 Secrets for Increasing Auction Profits
1. Include your ebay seller name, store, and website information with all items you ship.
Doing It eBay: An eBay Business Means Fun and Profits in a Global Marketplace
In 1995, when Pierre Omidyar introduced an online business venue that was essentially a virtual garage sale with auction pricing, no one knew a retailing revolution was about to occur. That site became known as eBay, and it's hard to find someone today who hasn't at least heard about the popular online auction company.
Louis Vuitton -- Avoiding the Ebay Nightmare Fakes
Without a doubt, eBay was one of the cleverest on-line ideas that anyone has had so far. The idea of creating a site where you can bid on and buy items ranging from an eggcup through to a disused Boeing 747 or a Nuclear Missile Silo was pure genius.
Effective Auction Listings - How To Create Them
Once you've created the best possible title for your item, you will move on to writing your auction description. Here, you have more space to give a detailed description of the item you are selling in the body of your auction.
5 Reasons Why Playing Music On Your Auctions Is A Bummer Of An Idea
There are 147 million registered users on eBay, and tens of millions of those are desperately fighting to make sales on eBay. When trying to make their auction listings as powerful as possible, many sellers use ill-advised tactics.
Affordable Online Car Auctions
Still hunting for the car of your dreams? Public car auctions online are becoming a happy hunting ground for car aficionados for they bring you a huge selection of affordable cars in various models at unbelievable prices.With online car auctions you can buy a new car at prices, which are quite less than the manufacturer's price in the retail showroom.
Online Auctions: How To Generate Fast Traffic From Online Auctions
Have you ever participated in any online auctions?Yes, people are making piles of cash from online auctions.And you can take advantage of this new gold rush to generatea lot of traffic to your own website.
5 Sure-Fire Ways to Make More Money on EBay
Have you ever dealt with a salesperson or a waiter who gave you unbelievably good service? How about someone who didn't seem to care about you one bit?Which of those people would you go back to the next time you needed to make another purchase or eat another meal?I'm willing to bet you would go back to the business or person who gave you great service. Have you ever considered that this same principle applies to your eBay sales?One of the easiest ways to get more sales on eBay is to make every buyer think "Wow, I've never had such a good experience buying on eBay!"Once someone has bought from you and had a good experience, they're much more likely to buy from you again.
An eBay Computer Purchase
An eBay purchase that turned sour.A story of fraud, deceit, and broken promises.
How to Survive the Jungles of Ebay Selling
Come with me, we are going to take a safari into the jungles of eBay selling, sometimes wrought with danger but most often rewarded with treasure.Beware of non-paying bidders, beware of auction snipers waiting to try and steal your eBay auction at a very low bid, but welcome the loot you will receive selling outdated relics in your house for a small kings ransom.
A WIN-WIN Scenario On eBay For Buyer/Sellers: Tips For Hunting Want It Now Postings
"Ask And You Shall Receive" Policy Works!You're one-of-a-kind baby clothes sat for the last month oneBay with no buyer. Why? Perhaps your item is sospecialized that buyers have a hard time finding you.
How To Sell On Ebay: Using Store Policies To Cement Your Credibility
In your quest to build credibility as an Ebay seller, few things are more important than creating and following consistent store policies. Doing so will provide your customers with an attractive buyingatmosphere, where they will feel safe making any transaction.

More Auction Information:

Related Articles

Mistakes to Avoid in your eBay Auctions
Online auctions continue to grow in popularity as an easy and efficient way to make money on everything from unwanted household items to rare and expensive collectables and even to bulky items like cars.Log on to eBay and you will see countless auctions on any item you can imagine.
Search... Search... Search Your Way To eBay Cash!
One of the most valuable things in life is the ability to learn a skill. One of my dad's favorite sayings was "You can give a man a fish and he will eat for a day, or you can teach a man to fish and he will never go hungry.
How to Double or Even Triple Your Net Profit Selling on eBay
eBay Search tips and secretsThis is an example of how I used the Ebay search tab to triple my sales and profit in 1 month!I had found a great supplier of computer liquidation products using my Ebay Power seller Cloning techniques. I was excited to be selling over $1000 a day in these products (laptop parts and accessories).
How Do You Find A Reliable Dropshipping Source?
A Dropshipper is someone who will anonymously send the goods you order to your customer! There are no markings on the box and no invoices enclosed! Finding a reliable dropshipper can prove to be a strenuous task. When selecting a Dropshipper you want to be sure to find someone that has a large inventory and quickly replenishes items that become sold out!You also want to find someone that is helpful and knowledgeable about the products they are selling! Make sure to contact them before you consider reselling their items, see how quickly you get a response and how helpful the response is! Remember this is the same service you can expect once you are in business with them! If it is less than your standards consider using someone else!How do you find a Dropshipper? There are several ways to find a Dropshipper perhaps the easiest is to purchase a list from an online auction! Thoroughly read the context of the ad and ask questions if need be.
Profitable Paper Piecing on eBay -- Part 2
Basic Paper Piecing TipsHere are some tips that will help you create paper piecings that will sell!Save some time by eliminating the "tracing" of patterns. Take your pattern, lay it over your cardstock and use your stylus to "trace" it onto your cardstock.
Shipping Supplies For Your eBay Auction Business
Auction supplies are clearly an expense and major consideration for an eBay auction business. Of course, the most critical supply is the item you are selling, but mailing supplies are necessary for every auction and their cost and supply must be figured into your overhead.
Do You Pay Taxes On eBay Income?
Q: I read your last column about paying income tax on eBay sales if you are doing it as a business, but as someone who only sells on eBay occasionally I'm still confused if the IRS rules apply to me. Can you tell me more?-- Norman L.
Used Cars For Sale On EBay
There are thousands of used cars for sale on eBay everysingle day. In fact, eBay Motors is the most profitablesales division on eBay and naturally there are manyentrepreneurs who are interested in jumping into thismarket.
How I Was Nearly Conned On Ebay
I am not sure how many people have had bad experiences on Ebay, I hope not too many. I was having a great time on there until some man tried to defraud me out of £170.
Online Auctions: The New Way of Shopping for Mauritians
Since their introduction several years ago, online auctions, such as eBay, have been one of the hottest destinations on the World Wide Web. Auction sellers are attracted by the prospect of a broad venue for their products and the possibility of high profits.
Learn How To Be A Successful eBay Seller
Anyone can sell anything on eBay. Open an account, list your product, and wait for the bids to start coming in.
How To Sell Santa's Slip-Ups
Shoppers spent more than $15.5 billion this Christmas on gifts on the Internet alone.
Photos on my eBay Auctions: How Do I Add Them?
On another forum I'm involved with, someone's asked a great question: I want to sell products on eBay, but I want to include photographs with my items. How do I do that? What kind of camera do I need, and what settings should I use?The first step is to buy a digital camera.
5 Secrets To Make A Killing on EBay
Secret #1: Find a 'real' wholesale and drop ship companyDo you know what one of the biggest problem is to be successful on eBay? 'What should I sell"? I can tell you, I get many emails per day from eBay sellers, asking me what they can sell. Let me explain this more in detail.
Selling on eBay - Have You Found the Magic Formula Yet?
Selling on eBay can be very profitable and a great way to make some cash while clearing your house of unwanted items at the same time. It's quite simple, just describe and photograph your items and seven to ten days later you'll get a payment though paypal or by cheque posted to you.
How to Survive the Jungles of Ebay Selling
Come with me, we are going to take a safari into the jungles of eBay selling, sometimes wrought with danger but most often rewarded with treasure.Beware of non-paying bidders, beware of auction snipers waiting to try and steal your eBay auction at a very low bid, but welcome the loot you will receive selling outdated relics in your house for a small kings ransom.
The Top Ten Tips For Auction Success!
If you were to look through eBay, or any other online auction site for that matter, you would find that many people make some very basic mistakes. And, they repeat these mistakes over and over again.
2 Step Secret Reveals How You Can Find Wholesale Suppliers
Have you spent hours on the internet searching for a viable wholesale source? I did. I spent money on self-professed in-depth Wholesale Supplier directories and membership sites.
Five Tested Ways To Find The Perfect Drop Shipper
You've heard about it many times in recent months. Being the business-minded person that you are, you most probably got curious and did a few research of your own.
The Effects of eBay on American Merchandising
With one brilliantly simple idea, eBay was born just a few short years ago.From its humble beginnings in the Collectibles business, it went on to achieve the lofty heights it enjoys today.