Thursday 23 July 2015

eBay millionaires: The secrets of the biggest online sellers revealed


                              
Auctioning your way to riches
The first-ever eBay 'rich list' has been published - and reveals that Britain's top sellers are raking in up to £17MILLION a year trading on the site.
The 'Power 30 UK Index' ranks the site's biggest 30 independent sellers and reveals they have an average annual turnover of nearly £4million.

You can find out how to get started selling on eBay here.
Nearly one in four sellers on the power list deal in electrical goods.
Four of the best sellers are fishing shops, with motoring related sellers claiming another four premier spots and fancy dress vendors taking three.
The huge figures reveal how eBay has inspired a new generation of entrepreneurs who have built money-spinning businesses out of the online marketplace.

eBay sellers making it big

The Power 30 UK Index was compiled by www.NetVoucherCodes.co.uk using data from the eBay analysis tool Terapeak .
Top of the list is Chinedu 'Ken' Emechebe, 37, who sells mobile phone accessories under the name ' universalgadgets01 '.
He has turned his bedroom trading hobby into a business with sales of over £15million a year and employs around 45 people to help with eBay sales.
The father-of-two said: "I think the great thing about eBay is just from day one the ease of selling makes it great for small businesses.
"On eBay everything is set up for you. Yes you pay your fees, but you would have to pay for advertising costs if you went on Google.
"eBay sets you up, it has millions of people who come on to the website every day, and all these people who are on there are looking for products and deals."
There are more than 200,000 UK business selling on eBay, plus millions of private sellers, generating an estimated £6billion of sales in the UK every year.

Start selling

Start in your spare room and dream big
There's nothing like experience to turn you into a savvy eBay seller. Here's our guide on how to get started, from signing up to making your listing shine.
You may find your first listing falls flat. Here's our tips on making more money on each sale, whether that's calculating fees or timing your auction right.
Confused about eBay fees? We've got an at-a-glance guide here.
And if you want inspiration, check out the story of this small town mum who created a business on eBay turning over £500,000 a year and the family who turned old clothes into a £1.5million business here.

'We understand what people on eBay want'

Universal Gadgets - top of the eBay power list
Top of the list, universalgadgets01 has been selling on eBay since 2008 and has monthly sales of £1,477,644.63
The company sells gadgets like mobile phone accessories and cables.
Mr Emechebe starting his company in the spare room of his two-bed London flat.
Since then he has been forced to relocate three more times due to his growing company, and now works out of a 1,200sq ft warehouse.
He sells around 2,500 items a day on eBay, with most coming direct from factories around the world.
Among his most popular items are the iPhone 5, ethernet cables and headphones.
He said: "We outgrew the house and moved into our first warehouse about a year and a half after starting the business and at the moment we are in our fourth warehouse.
"We have just grown since then.
"[I think we are number one because] we have been doing this for a while and we understand the market.
"We understand what most people on eBay want. Customer service is number one and we have to keep the customer happy.
"People buy from us because of the range of products we have.
"We try to make sure we are always there, are easily reachable and people can call us to ask us any questions.
"We are very competitive and everything we sell we get from source.
"Customers want to buy from a seller that they know they are going to get the item and without hassle."
Second in the list is electronics shop Babz - which has monthly sales of £1,427,534.13.
Third is entertainment seller estocks, which sells almost a million pounds worth of gadgets a month.
The figures were compiled from eBay's internal market research tool Terapeak using a one-month snapshop of sales on ebay.co.uk between May 5 and June 5 this year.

Top 10 eBay sellers

(based on monthly sales between May and June)
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