Obviously, one must know how and what his competition is doing in order to succedd in one's own business. For Ebay sellers there is only one solution: Terapeak. Terapeak is the leading research tool for Ebay. It will tell you what the hottest items on Ebay are, how much you should price your items, what the competition prices it at, what the best times are to list your specific item, and more. This tool is $24.95 per month and is a no-brainer for success on Ebay.
Let me give you an example of how Terapeak helped me. In my Ebay Store which is run by my wife and her friend, we were selling a Motorola W375 for about $93 and were making about $15 on each phone. We sold about 400 of these phones in one month on and off Ebay (we found great cell phone suppliers). After doing some research on the competition using Terapeak, we found that a competitor was selling triple the amount of the Motorola W375 than we were and was selling the phone for $104 while we were selling it for $93.
I was baffled and confused. Why would anyone pay more to him?! The research showed that most people searched for Motorola phones under the following criteria: “phones in the price range of $100 to $200. Therfore, my W375 phone did not show up in those searches because we were selling it for less than $100. Now we raised the price to $104 and we are selling a lot more. We would have lost out on a lot of money if not for that piece of research. Now we are making about $23 profit on each phone after Ebay and Paypal fees.
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