My first venture into on-line business was with ebay (true of most people).
I collect little ceramic figurines called Wades. They are found in Red Rose Tea boxes in both the U.S. and Canada. But the thing is, that the figurines are different for each country. Being a crazy collector, I want to have all of them. So I’d got to yard sales on both sides of the border (being a border hugger), buying boxes and boxes of figurines.
As I put together my own master set of figurines, I also collected extras. I’d hide them (from the hubby) in the basement until he started complaining. I had to get rid of them but couldn’t really have a yard sale with just tiny figurines.
So I looked to ebay. I had already some experience buying off of ebay (because, of course, I wanted to collect the U.K. Wades also). I knew which ads caught my eye. I knew what fellow collectors found important.
What I’d do is sell the U.S. Wades to Canadians and sell the Canadian Wades to Americans. I started earning enough money to pay for my nasty collecting habit (and the hubby got his basement back).
Learning
Buying in one market and selling in another can be lucrative. Selling to the Canadians, I got higher prices than I would have if I had sold U.S. Wades to Americans.
Being known for quality meant increased prices. I would only sell perfect pieces. No chips, no paint smudges. And I’d guarantee that. Customers would pay more for my figurines once they knew that.
Giving away a bonus builds repeat customers. As I’d only sell perfect pieces, I’d have chipped or imperfect pieces left over. What I’d do is include a piece as a bonus. I’d only let the buyer know this after they won the bid and then give them a choice of figurines (many gave them to their kids).