Successful eBay Consignment Companies
eBay consignment businesses have gotten more and more popular as eBay has grown. To consign means to give to another's care so if you're an eBay consignor, you're selling someone else's products on eBay. This is very popular in many different situations, for example, a person who has no knowledge of eBay finds that they have a lot of goodies to sell. You would then photograph, create a description, and sell their product. That sounds easy but there is more to having a successful eBay consignment business than that.
Ebay Consignment Business Contract
First of all, you must always create a consignor contract. This contract protects you and your consignor in the case that something goes wrong. This document should outline the particulars of the consignor, the items being sold, and the auction terms (which should be agreed upon). A great model eBay consignment contract consists of four sections and is as follows:
First is the consignor's information. Here you will list their name, address, phone number, e-mail, and driver's license number. This information is needed for your security reasons for example if something goes wrong, you will need to locate them.
Next is the item's information. You'll want to know the name of the item, age, model number, serial number, condition, defects or deficiencies, cost new. This is mostly for you to be able to sell the item and know what you're trying to sell.
The next part of the contract is the Auction Specifics. This includes format of the auction (auction, fixed price, buy it now), number of days to list, starting price, reserve price, or buy it now price, enhancements to listing (bold, gallery shot, highlights, and more).
Lastly but most important is the Auctions Terms. On this part, you will have the consignment terms ( i.e. commissions based on final value fee), auction fees (enhancements, listing, final value),disposition of item if it does not sell (return to consignor or relist).
More Tips for an eBay Consignment Business
Once you've taken care of the contract, you must make sure that the item is in your possession. This makes sure that there are no problems once the sale has been made and also so you can answer questions during the duration of the auction. Promote your business so that you get a lot of customers. You can do this so easily by creating flyers, newsletters, e-mails, speaking to your friends and families, and more: just spread the word!
