Today’s personal finance tip is about earning money by selling used items on Amazon and eBay.

If you’re trying to earn a bit of extra income online without getting a second job, you can easily sell a few items through an online/virtual marketplace, such as Amazon, eBay and Etsy, and create an alternate stream of income.

Whether you wish to sell second hand (old) items of brand new items on these sites is entirely up to you and you can set your own prices as well. A friend of mine made around $2,000 by simply selling old stuff that was sitting around her house through eBay, and the amount of effort that was put into the selling those items was negligent compared to the payback.

There are lots of other online marketplaces that you can sell through, but considering the hundreds of millions visitors that Amazon and eBay draw each year, along with the good reputation enjoyed by these companies, your chances of success are best at these two websites.

All you need to do is choose a product that isn’t in the high-risk area, make sure your product is in good shape, take some high quality photos of it and upload it to the site you wish to use, i.e. Amazon and eBay. When you decide upon a price, keep in mind the:

  • Shipping cost,
  • Competitor prices, and,
  • Selling fees charged by these sites.

You also want to make sure you write a detailed description of the item you wish to sell, so it appears on relevant search results that customers have fetched.