Okay, I'm not really getting rich off Ebay. But I've had some experience over the years selling things and making money. Good and bad experiences, with plenty of lessons learned.
1) Be tough with yourself.
Usually when I switch out my closet between seasons, I'll end up with a pile of stuff I consider selling...stuff that's unworn, doesn't fit, or was an impulse buy I had forgotten. There are 3 places I consider unloading my goods: ebay, consignment stores, or Goodwill. Generally, if I have NWT (new with tags) designer items, I'll try my luck with consignment. It's usually money upfront (I don't deal with those stores that only pay you after a sale), and a quick way to get rid of things. For some reason, I've had difficulty selling true designer items on Ebay...maybe people think they are replicas? Who knows! Other items that are in good condition and generally up-to-date (that vintage 70s mumu you've been holding onto won't fetch many beans) go on ebay. Give pieces a critical eye...anything with holes won't sell. And for pete's sake...wash and iron pieces before taking pics and sending them off! You wouldn't try on a deodorant-stained shirt, and neither would Ebay buyers.
Speaking of pics, I've taken the best ones without flash with plenty of natural light. These seem to best capture the true color and details. You'll want a picture of the front, back, tag, and maybe a close up of a particular detail (anything you'd want to see when purchasing clothing online).
2) Do your homework and be realistic.
Ebay makes it easy to see average selling prices for items similar to yours. You can also do 'Advanced Searches' to see what similar items were priced at, what they sold for, etc. Pricing your stuff is tricky...too high and you risk having no buyers, too low and you risk letting the item go for much less than you hoped for.
Factor in ebay and paypal fees when pricing your items. Is it really worth selling your shirt for $5 or $10? After shipping, ebay, and paypal, you really aren't left with much. When you have a bunch of low-value items, you may want to consider a 'lot' sale if you're set on ebay. For example, I went through a period of J Crew sale obsession, and was left with a plethora of button-downs, v-neck sweaters, chinos, and critter belts in varying colors. Totally unnecessary! So I sold a few 'J Crew lots' and made a decent amount of money while getting rid of a ton of stuff at once.
3) Be familiar with Ebay rules and regs.
Ebay has a ton of rules that are laid out on the website. You should read their Intro to Selling Guides to get familiar. Unfortunately, I've found that buyers are protected a bit more than sellers, so know your rights and make sure your listings fall within their rules. Ebay has become a lot more strict now than in past years, and there is a good chance your listings will be reported if you aren't on point with what you post.
4) Make sure your policies are airtight. Be firm with buyers!
Take a look at the listings of powersellers with 100% feedback for cues on what to list in your policies. You need to be 100% honest in what you post about the item, or a seller could report you or demand a refund. Speaking of, I state in at least 3 different places that I do not do refunds...I give measurements and information galore and ask interested buyers to message me with any and all questions to avoid having a buyer claim that I was not forthright.
As far as buyers, I don't accept bids from those with negative feedback (obvi) and ask that those with 0 feedback contact me first. Ignore requests to accept money orders, Western Union, or personal checks. As far as setting shipping rates, you could either set standard rates or estimate based on weight. In the latter case, I'd highly advise buying a small scale...especially if you plan on shipping internationally.
5) Ship quickly and communicate often.
Buyers like to receive things the same week they pay. Sometimes, that is impossible to achieve... but I try my best to communicate with the buyer, letting them know when I plan to ship and via what mode. I'd say shipping within 3 days is a reasonable expectation of any buyer.
6) Leave feedback!
Feedback makes the ebay world go round. Yes, it can be unjust at times (you can't leave negative feedback for buyers that don't pay...crazy, I know). And there are buyers who don't understand how the system works (I've gotten a neutral feedback from someone who thought neutral meant 'fine'). But usually, it's a nice way to acknowledge a smooth transaction from a regular joe just like you. I typically wait for a buyer to leave feedback before I do (if you did happen to get a negative, it's easier to send a response), and send a reminder after a week if I haven't yet gotten a feedback.
7) Don't expect to profit.
After all is said and done, I'll rarely profit on sales. I have bought and resold highly sought-after items (like a Lily McNeal sweater worn by Jessica Simpson in her heyday) for ridiculous amounts, but nowadays I don't have the energy for that. With the recession and everything, I'm happy if I get even 50% back on sales.
So those are my major lessons learned. I've had to deal with nonpaying bidders, returns, removed listings, and harassing buyers. But, I have nearly 300 positive feedback to my name, which means I must be doing something right! It's a nice way for me to make some extra cash and clear out the closet, and give my stuff a second chance at love!
Great informative site re: selling on ebay:
http://www.getrichslowly.org/blog/2007/10/07/how-to-list-an-ebay-auction-for-maximum-profit/
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