BOOM: Number of eBay millionaires soars as sellers cash in on lockdown

[AtW]

When I noticed this, they were bidding up to almost as much as the new price on Amazon. Everything is ruined when the thick join in.

New price on Amazon is double now, thanks to MF

[escapeUK]

I have noticed that people will pay above the RRP for a new item, readily available online, but for used items on ebay. Some items haven't even been cleaned and are for sale close to or above RRP. People are idiots.

When I noticed this, they were bidding up to almost as much as the new price on Amazon. Everything is ruined when the thick join in.

[Paddy]

“ The number of self-made millionaires on eBay has soared this year as online sellers flogged books, beekeeping equipment and even lingerie – cashing in on new trends in “lockdown spending”.

There are now 1,058 eBay sellers with an annual turnover of at least £1m, up from 782 in 2019, a 35pc jump.

The online retail giant said there was a 250pc rise in people signing up the site during lockdown between March and July, compared with last year. Furloughed, cash-strapped and newly redundant workers turned to side-hustles and business ventures in a bid to boost income.

It predicted that the worsening economic climate would continue to fuel a rise in online start-ups looking for new ways to make money and replicate the success enjoyed by established sellers.

Janine Dutton, 44 and from West Yorkshire, started her women's underwear business Belle Lingerie on eBay in 2003. She set up on her own to have more time with her three children. Today, the business sells anything and everything, making millions in annual turnover and employs 20 staff.”

Number of eBay millionaires soars as sellers cash in on lockdown

1000 years of this and MF will finally make enough to get back to drinking shandy in the Concorde Room!

Turnover is not profit and therefore does not equate to being a millionaire.

[mattster]

I have noticed that people will pay above the RRP for a new item, readily available online, but for used items on ebay. Some items haven't even been cleaned and are for sale close to or above RRP. People are idiots.

I noticed the same a few years ago when I decided to sell a bunch of fishing lures I hadn't used in a while. Not an eBay seller by any means normally, I just threw up about 30 of these things separately on a weeks listing. Some of the items got bidders into a bit of a frenzy in the final minutes, and a few went for more than the new price. These were used (scratched etc), and the new items were readily available online at the time. I thought it was bizarre then, but it doesn't seem to be that uncommon now. There's one born every minute I guess, maybe its rude not to take advantage of it?

[rogerfederer]

I have noticed that people will pay above the RRP for a new item, readily available online, but for used items on ebay. Some items haven't even been cleaned and are for sale close to or above RRP. People are idiots.

[AtW]

“ The number of self-made millionaires on eBay has soared this year as online sellers flogged books, beekeeping equipment and even lingerie – cashing in on new trends in “lockdown spending”.

There are now 1,058 eBay sellers with an annual turnover of at least £1m, up from 782 in 2019, a 35pc jump.

The online retail giant said there was a 250pc rise in people signing up the site during lockdown between March and July, compared with last year. Furloughed, cash-strapped and newly redundant workers turned to side-hustles and business ventures in a bid to boost income.

It predicted that the worsening economic climate would continue to fuel a rise in online start-ups looking for new ways to make money and replicate the success enjoyed by established sellers.

Janine Dutton, 44 and from West Yorkshire, started her women's underwear business Belle Lingerie on eBay in 2003. She set up on her own to have more time with her three children. Today, the business sells anything and everything, making millions in annual turnover and employs 20 staff.”

Number of eBay millionaires soars as sellers cash in on lockdown

1000 years of this and MF will finally make enough to get back to drinking shandy in the Concorde Room!