How to make money by touting on eBay, We have had ticket touts, now we have a new form of touts eBay touts.
Touting is a very popular form of trading tickets surrounding popular sporting events. Ticket touts – as they are known – buy up large amount of tickets hoping to sell them on in the black market through unofficial channels. Well, now, a similar market is emerging on eBay, the world’s most popular auction site.
These netpreneurs (internet profiteers) are buying up popular products and goods hoping to sell them off at much higher prices than they bought them when the products are no longer available in the open market.
This form of trading requires a great deal of skill because the tout needs to identify the products that are going to cease open trading and won’t be available for very long. So the trick is to buy it while available for a short period of time before becoming unavailable again for however long that might be.
Here are some ways eBay touts can make a lot of money
Newly released products
Some products have stuttered launch. This means they are sold in blocks whereby after coming on to the market briefly, they stop selling for a while. This creates an opportunity for these touts to buy up such products and sell them during the period when they are unavailable.
Products with limited release
Some products are limited to be released in specific countries before going on international release. Sometimes, the delays can be quite substantial between countries which provides an opportunity to buy products and sell them on to foreign markets where people are still waiting for their own release. This is common mode of release for some products like electronics or computing products like game consoles. However, not always will products be able to be readily played in international markets because they are designed specifically for the country it was originally released in. However, there are sometimes ways to get around this problem by buying, for example, converters that would allow the device to be played in multi-regional destination thus allowing access to countries other than it was solely intended for.
Sporting events – Of course, touts at sporting events are more common than other types of events, it is no surprise that eBay too offers a great chance for people to exploit big sporting events where there is bound to be huge demand.
These are also an easy way to make money. Lets face it, when a very well-known international superstar is playing even a large venue like a sports stadium, there is a chance that it will b sold out, sometimes within days, or small indoor venues are also likely to sell out if a decent performer is playing. This represents an opportunity to buy large number of tickets and then wait for the sold out signs to go up. This is when you have an opportunity to profit by selling them one eBay with its huge potential market.
These are always very difficult to get hands on once they are sold out. Touts will make good money if they can get their hands on such products.
Who are the buyers that are willing to pay over the odds on eBay? The e-touts are able to make large profits because there is a huge market of buyers on eBay that are willing to pay well over retail price because of the huge demand for those products. Any product that is a hot commodity will sell for many times the recommended retail price.
In some corners, people are fighting back against those that intend to profit because they feel those genuinely interested in a product are being left in the dark. For example, some concert organizers are devising a pre-registration system to ensure only those that buy tickets through the official channels get in. But, it seems e-touts are always able to somehow get around this and make their profit on the world’s largest online market place, eBay.
Another way to make good amount of money from eBay touting s to ensure there areEBay touts that take advantage of this system are:
On the look out for big events and big product releases and analyse whether they would provide the opportunity to make a substantial profit.
It might be more prudent to work with other people who are into similar activities to make it easier to digest the different markets that can be exploited. Doing it all by yourself might not represent the best use of time. Doing it in a groups will provide more opportunities.
Be prepared to wait in long cues when products initially launch because they will be in great demand; some products such as some game consoles are extremely high on the wanted list of gaming enthusiasts, some of whom are willing to cue up for a day or two to get their hands on one of these products.