eBay is one of the most popular ways to buy and sell goods and services online. It is a website where people can buy and sell different items and services. Hence, it is world online marketplace that enhances interactions between the seller and the buyer for trading purposes.
If you are considering launching an online business from your London home or Manchester boutique, you will want to become familiar with the eBay UK fees.
The platform has standard selling fees for their services. It has a different fee schedule for motor vehicles, select business and industrial categories, stores subscribers, real estate, and classified ads. Additional fee may also apply in eBay which includes PayPal fees and seller tool fees. The online platform provides you with an eBay fee calculator that will enable you to calculate your fees before selling. The fee includes the following;
1. eBay listing fees
This is a fee that you are required to pay per listing an item. It does not include listing classified ads or eBay motors. eBay also offers you a free listing or insertion fee per month that has restrictions and exclusions.
2. eBay Selling Fees
this is the final value fee that you should pay upon selling your items. The final value fees are calculated based on the amount you change your clients, which includes the final price of the item, shipping charges, and any other relevant charges. The final value fee is charged per item. This is 10% of the sale price including the postage and is capped at around £250.
3. eBay PayPal Fees
This is an extra fee you have to pay if the buyer uses the PayPal services. PayPal charges you 3.4% of your total sale with additional of about 20p per transaction for sales of less than £1,500.
4. eBay motor fees
You should pay a cost of around £10 in order to list a vehicle on eBay motors for auction and about £14.99 for the classified ad. The final value fee for selling a vehicle listed as a classified ad is exempted from you. However, you should pay 1% for auctions and buy it sales.
5. eBay listing classified ads fees
Listing classified ads are additions to auction style and buy- it -now listing formats. The format gives you more option to buy and sell in the category. It also gives a familiar paper- based classified to eBay. As there is no bidding on a classified ad, you should tag the advertised price you would wish to receive for your item and service. An insertion fee is required for using this format with an exemption of final value fee or notice fee.
6. Other fees
You may be charged a fee when you end an auction abruptly. They charge 10% of the amount they would have sold your item at the time you ended the auction.
Payment options for sellers
eBay requires you to offer PayPal and merchant credit card which are safer electronic payment methods accepted by eBay. You are also allowed to make payment on pick up, bank transfer, money order, cheque, and cash on delivery if only you offer one of the safer payment methods.
When selling anything on eBay, you need to factor in the fees, as well the PayPal transaction costs. Actually, you cannot sell your clutter on eBay for free. However, you can earn more money selling your items on this platform as compared to other alternatives such door to door selling simply because of the sheer volume of buyers that search for products on the site every day.
This is because it targets a large audience of potential buyers.
You might want to consider the online platform for the sale of your wholesale and closeout products, since there are many wholesale buyers that conduct searches for merchandise that they can stock their shops with.
Even if you are only a retailer seller, but you have access to a large quantity of overstock merchandise, you should consider setting up auctions for your items in bulk. This way you can both capture sales from retail as well as wholesale buyers.
One caveat is that certain product categories can sell for higher prices on other websites, such as on Amazon or Overstock, so always consider your options before creating your auction listings.
For more motivation, you should check out the Power 30 UK Index, it ranks the top 30 independent sellers on the UK auction platform.
Also make sure to keep track of what the best selling products are on the auction giant's website.
You are going to want to source those products from your wholesale suppliers, assuming that the competition has not already saturated those categories with their offerings.
Alternatively, you can focus on a product niche that is currently being overlooked, or an a product line that is currently not available in the United Kingdom, no differently than the original traders that imported tea from India to England.