eBid: Another "Sell Anything" Marketplace
eBid is another marketplace similar to eBay and Amazon in that it is a platform for selling almost anything. Still, it's not as well known, so you'd be selling to a smaller pool of buyers.
It's definitely a lower-cost option than eBay or Amazon, but the profitability rating is also lower. The absence of listing fees and low 3 percent commission charged per sale does make this a low-risk market to test out, so if you're looking for a change, you've got little to nothing to lose here.
Getting Started At eBid
eBid has three different membership levels. These include:
• Buyer – tailored for buyers only
• Seller – open to all sellers
• Seller Plus – tailored for entrepreneurs
All membership levels are free apart from the Seller Plus+ plan, which is a paid subscription. The Seller plan is free, but it attracts a commission of 3% of your final sale.
On the other hand, the Seller Plus plan is designed for professional merchants rather than occasional sellers. You may opt to pay a recurring subscription payable every week, month, quarterly or annually, depending on your budget.
Alternatively, you may pay a one-time fee of £99.99 or a discounted £49.99 within 24hrs of joining the platform.
How Does eBid Work?
Like any other auction site, eBid works in a straightforward way. Sellers are only required to list their items and wait for buyers to view, and make purchases.
- Listing Your Products
An attractive feature for sellers on the eBid platform is that the listing of products is 100% free, regardless of your membership level. However, regular sellers have to verify their credit/debit card details while seller plus holders have to pay a subscription fee before listing their products.
You are required to add a short, catchy description of your product soon after creating your listing. You may also add photos to your listings for free to entice more customers. However, other listing options such as adding bold titles, subtitles, extra photos and showing your listing in different categories attract a fee ranging from $0.05 to $0.18.
Besides adding a description to your listing, you must also provide additional information such as shipping options, delivery times and your return policy. To get more views and increase your exposure, you should consider using the featured listing. Featured products appear on top of each category for a minimum of 60 days. However, you must part with a small fee of $1 per month to enjoy this service.
- Selling Your Products
For you to sell your products, you must set a minimum bid price, also known as the reserve price. Customers will then view your products and place their bids based on this price. Once the auction period is over, the product will be deemed to have been sold to the highest bidder.
An email with your full details will be sent to the buyer so after the purchase is made. Other selling features placing buy now buttons on your items, allowing automatic bidding and closing auctions early are only available to Seller Plus account holders.
- Payment Options
Payment options on this platform include PayPal and Skrill. You are encouraged to accept as many payment methods to entice more customers. You will receive your money directly into your account minus any service fees or accrued commissions.
What Are The Pros?
• Easy to use platform
• Reasonable fee structure
• Low transaction fees
• Free listings
• Exceptional customer support
What Are The Cons?
• Only accepts two payment options
• Lower traffic compared to other platforms
• The stringent bidding options may slash your profits
Some Final Thoughts
eBid is comparatively a great online marketplace. However, when it comes to sales statistics, it still does not match the amount traffic other platforms such as eBay attract. eBid only enjoys hundreds of thousands of visitors per day while eBay has a daily following of more than 1.5 million.
However, the fact that they offer free listings and extremely lower commission fees of only 3% compared to eBays 10%, makes eBid an ideal marketplace alternative. Whether you are a professional merchant or just an occasional seller, joining a platform like eBid is certainly worth trying.
In fact, we encourage you to join as many auction sites as possible to enhance your online presence.
