|Many QxBid online auctions sellers provide their goods within one niche. Others have a handful of niches that they specialize in. The key is to find a group of products that you're already familiar with. Perhaps you've been a collector of antiques for many years. If so, you probably know when you come across an item that could potentially sell for a good amount of cash. Likewise, you have a good idea of which items are likely to collect dust on your shelves. You can put this knowledge to work for you on QxBid. Your expertise with antiques gives you an edge over many competitors.
Once you have a good idea of the niche you wish to fill, it's time for the second half of your preliminary work. Start a spreadsheet that lists the different types of items you would like to sell. Then add a monetary value to each entry. This reflects how much you can expect to purchase the item for. Be realistic; you want to lay out an accurate portrait of how much money you will be spending to build up your inventory. Optimism won't help in this circumstance.
Expand your spreadsheet to include other niche markets, just in case. These can be items you enjoy working with, have expert knowledge of, or something you've always had an affinity for and think you could be successful with. Remember: no matter what your niche is, someone will buy from it as long as you list quality items at reasonable prices. Estimate the initial cost of each item, including shipping and sales tax. Then prepare to immerse yourself in QxBid auctions as your research begins in earnest.
Go to QxBid and search through the completed auctions. This allows you to see the actual price that items similar to yours have sold for. Is the average price something you could live with? Remember to factor in shipping costs. Also, pay attention to the quality of the sold items when deciding whether this niche is something you wish to pursue. Items in “mint” or “like new” condition will bring considerably higher prices on QxBid than worn, scuffed items.
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