MAKING MONEY AT THE CLICK OF A MOUSE
eBay keeps the cash comin'
PHOTO ILLUSTRATION/JARED GAB
One man's trash is another man's treasure. People all over the world have used this theory to become entrepreneurs at the click of a mouse.KU students are taking advantage of the online wonder called eBay.
Luke Thompson, Louisburg sophomore, started selling random items from around his house in ninth grade. He uses eBay as a way to get rid of old junk that he no longer wants like his old Sega Genesis and a retro Houston Oilers lamp. Now that he has cleaned out his closet, Thompson has another strategy. "I usually buy items late at night when nobody else is bidding and then resell them when I get them in, hopefully for a higher price," Thompson says. His method proves to be popular for eBay sellers, EBay helps him earn some extra money to pay rent, but it is not his main source of income, Thompson says.
"A TRADING ASSISTANT BUSINESS IS A GREAT WAY TO WORK AT YOUR DORM DURING COLLEGE, BECAUSE YOU CAN SELL OTHER PEOPLE'S ITEMS AND HAVE NO INVESTMENT OR INVENTORY."
CHRISTOPHER MATTHEW SPENCER, AUTHOR OF THE EBAY ENTREPRENUER AND EBAY TRADING ASSISTANT
However, other students rely on eBay sales to make a living. Peter Tosco, Lee's Summit, Mo., graduate student, would make on average about $1,000-$1,500 a month, working about 20-25 hours a week. "Sometimes during the summer and around the holiday season, I devote more time to eBay sales and make more," he says.
Tosco sells Japanese video games that are hard to find in the U.S. "I have contacts in Japan who could obtain games for me, and I sell these on eBay," Tosco says. This is easier said than done because Tosco must know the Japanese language and market to communicate well. Ebay has dubbed Tosco a "Powerseller," which means he has averaged at least $1,000 a month in sales.
The eBay craze
Pierre Omidyar, a computer programmer in San Jose, started eBay in the basement of his home in 1995. Now the booming online auction site has evolved into a multi-million
dollar business. People who called him a computer nerd in high school are probably kicking themselves, as he is now a millionaire.
Christopher Matthew Spencer began in a modest way too, until eBay changed his life. "I am just a regular guy, I started out with nothing," says Spencer, author of The eBay Entrepreneur and eBay Trading Assistant. Trading assistants make money by selling items for their clients
on eBay. Spencer his business out of high school after selling small items like Pokemon cards on eBay. He would sell small things for a small profit for others. He decided to turn this into a business and expand his clients. His life changed when he sold a rare and valuable Italian Lenci figurine to a buyer in Italy for $17,100.
Do it yourself
Spencer made his life
a success by a few simple networking steps to get his name out. Handing out business cards to everyone you meet and know is a good start, he says. College dorms are a great location for easy networking, Spencer says. "I think that a trading assistant business is a great way to work at your dorm during college, because you can sell other people's items and have no investment or inventory," Spencer says. Plus, college freshmen tend to have worthless items laying around that they thought they might need in college, but never opened. That, my friend, is screaming "eBay item."
So, how can you make money off of eBay, and where can you find the stuff to sell? It's easier
than you might think, Spencer says. "There are many good books on sourcing, but I would suggest trying to buy and sell things that you know well." he says. "A hobby or passion usually gets the best result because you are familiar with the demand, current pricing and trends for items you deal with regularly."
So, pull out your digital camera, take some pictures of some stuff you don't want, or your parents don't want, and sell it on eBay. Spencer started the same way and has now sold more than 17,000 items and has made bank to boot. Sure, it may just be an old Cabbage Patch doll to you, but to someone else, it could be the last piece to a collection.
Ben Sullivan,
Lenexa
freshman,
browses
eBay in
hopes of
making some
quick cash.
09. 21.2006 JAYPLAY <17
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