E-Commerce giant, Amazon, is amongst the best places to sell your stuff online. It sports an easy to use interface, a trusted systematic approach and an almost infinite number of articles. Yet, if you’re selling something on Amazon, you need to know how to get the most amount of money for your product.
Before you sell anything through Amazon, you have to choose between Amazon’s two seller programs.
- Fulfilled by Amazon: This program requires a monthly fee but it’s what you want if you want to get rid of things as soon as possible. Under this program, Amazon handles storage, shipping and customer service. There is a $39 monthly charge which enables the user to become a ‘Professional Seller’. The most advantageous aspect of this program is that Amazon handles all deals in the selling process. They handle listing and provide options on your product such as Prime Shipping. While there is a monthly fee to offset the profit, there are now charges per every sale.
Amazon does have a few safeguards in place. If your item does not sell till a specified duration of time, you will be required to pay storage charges. The program works best for people who have a lot to sell in a short amount of time.
- Amazon Seller: Amazon Seller is the standard program for those who want to sell specific items for sale. The Amazon Seller program is similar to eBay. What Amazon offers is a humongous inventory and customer base. Amazon Seller has been consistently ranked as the best method for selling electronics, collectables and books. There are no listing charges or monthly fee. However, there is a $0.99 fee for every sale and additional fees which Amazon charges considering the category and the final sale price.
Being an Amazon seller means that you will have to handle everything from listing, price control, inventory management and shipment along with customer service and queries. You will also have to handle any disputes which may arise.
While you do not get the option of Prime Shipping, you are allowed to offer free shipping. The Amazon Seller program is perhaps the best method to sell anything if you are unsure of your item’s ability to sell and the time required for the sale.
However, if you have something which is of a relatively low value and there is quite a competition for such an item, you will find that neither program really benefits you. Be sure to surf Amazon and get some perspective regarding the price of similar items on Amazon. Compare the condition of your item and another and then compare price. See if they’re charging shipping.
You may think that your old copy of Bleak House would go for at least $50, but you’d be surprised to know that most books are sold for prices as little as $0.05 in addition to free shipping. This means that there is very little money to be made out of the sale. You’d be better off donating the book and saving your time. You will face tough competitions from other sellers with better ratings or lower prices.
While setting a price for your item, do not find out the lowest price and use it. Instead, compare the condition of your item with other similar items selling in Amazon and set a competitive price. If you can make a small amount of money clearing out your things, then you may as well use that opportunity. Do not undercharge on shipping as this amount will be paid for from your own wallet.
Using a systematic and informed approach towards selling items on Amazon will result in far greater profits than simply listing and waiting for an offer to arrive.