Spelling mistakes are the commonest
form of arbitrage, so too is listing in the wrong category, or
listing an item as commonplace when actually it is a rare and highly
prized collectible.
But there are other arbitrage
opportunities to consider as these tips show:
* The most reliable way to
profit on a regular basis is to specialise in a niche you know well.
By specialising you’ll come to know which products fetch the highest
prices, which are commonly misspelled, which often fetch higher
prices on specific eBay country sites, and so on.
* The only really effective
way to make non-spelling mistake arbitrage work is to constantly
check out last minute auctions with few or no potential bidders and
determine how much more profit is waiting on the table due to
sellers’ mistakes or oversights. It’s a long job but the
rewards can be spectacular.
* Once you find a listing
with little time to run and no bidders it’s time to do an Advanced
Search on eBay to determine what profit potential might exist should
you buy the item to relist it on eBay.
Do this by clicking on ‘Advanced
Search’ top of any eBay page, key words to describe your product in
the search box, tick ‘Completed Auctions Only’. Then search.
To the left of the next page you can choose to search ‘Worldwide’ or
restrict your search to the UK or Europe, the latter also including
the UK. Right of any page you can choose to search items
according to highest prices achieved which is usually the best place
to determine potential for a current similar product listing.
* When you find arbitrage
opportunities, look at other items from the same seller. Many
will make mistakes throughout all their listings, such as repeating
their spelling mistakes, using poor photographs and incorrect
categories, and more. Not only will you find some sellers a regular
source of arbitrage opportunities, you’ll also find most give
discount shipping on multiple products. So you could obtain
several smaller items, normally costing £1 or so to post
individually, can be posted in one parcel for a few pounds more.
* The best arbitrage
opportunities exist with unprofessional sellers, people who
continuously use poor photographs or list in the wrong categories;
sellers who list only in their own country and never overseas on
potentially a more effective eBay site; people using a template with
a spelling mistake or template error that’s existed from day one and
was never corrected. Keep careful notes of these sellers’ eBay
IDs and refer to them often.
* Look for auctions that end
while most of the world sleeps when some amazing buys are
possible. As for other mistakes there are some sellers who
constantly end auctions when no-one is bidding purely because they
are repeating a one-time mistake that has never been corrected.
This is an easy mistake to make and all but the most professional
sellers may take weeks or months to spot their mistakes. For
example, I once listed one hundred plus items on eBay, all on a
Friday evening, all with intention to sell seven days later, also on
a Friday evening. Friday evening is the end of many people’s
working week and the time many people relax by bidding on eBay.
I was listing many same theme items that evening and I know it’s a
good idea to leave a short time between listings to give multiple
buyers time to move between auctions to check their bids. Five
minutes is long enough between listings to make sure people can
easily bid on subsequent items, so I timed my listings to end at
five minute intervals. Starting 8pm, I listed 100 items plus,
at five minute intervals, which means my last fifty or so ended long
after midnight! Not a good idea!
But this is a mistake you want
others to make for you to capitalise upon. Again, it’s
all down to physically checking auction ending times for products
you might resell and be sure to add all items within a specific time
frame to your ‘Items Item Watching’ category.
Thankfully, you don’t need to wait up all night to bid on your
chosen items, you can use sniping software to bid in your absence.
* ‘Speed’ sniping is the
process of seeking BUY IT NOW arbitrage opportunities within minutes
of items being listed and long before the seller realises the
mistake or someone else has chance to bid. This normally works
best for specialised sellers in specific niche markets. You’ll often
find items available Buy It Now or Best Offer which regularly fetch
far more on auction listings. This is because people get
caught up in the thrill of bidding at auction and chase items they
don’t really need or want just to prevent someone else winning them.
The bottom line is they end up paying much more and having to wait
for the auction to end than a similar product being offered Buy It
Now and available by return post.
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