How to Make Money on eBay Selling Mechanic's Tools

Everyone wants to make more money, and eBay is a great way to do it. You can make some extra spending money selling tools on eBay.

Instructions

Things You'll Need:

eBay account
PayPal account
Tools (Craftsman, Snap On, Matco)
An account with Matco Tools and Snap On is helpful, but not necessary.

Step 1

PayPal

Sign up for accounts with eBay and PayPal if you have not already. This is fast, easy, and free. Simply go to each website and register for an account. (There are links in the Resources section below.) Listing tools on eBay will put them in front of 86 million visitors to the site. There is no where else that can offer you this amount of potential customers. PayPal is the most popular payment method accepted on eBay. They make payments fast and secure using either a credit/debit card, or your bank account. Once you have sold an item you can simply transfer the money from PayPal straight into your bank account.
Step 2

Do your research.

Do research on the tools that you will be selling. Since you will be selling these tools on eBay, it would be nice to know what they have been selling for recently. This will give you a better idea of what to list the tools for in order to be competitive, or to beat your competitors prices. Fortunately eBay makes this process very simple. Simply go to eBay.com, and next to the search box at the top of the page is a link for "Advanced Search". Click this link. In the box where it says, "Enter keyword or item number", type in the tool that you want to research. Below this box you will see an option for show completed listings only. Click this check box, and then click search. Now you will see a list of the items that match your search, their selling price, and whether or not they sold. Prices of items that sold are in green and bold, those that did not sell are red (including reserve not met auctions). If you see an item that sold for a higher amount than the same item, take note of the title of the listing. Perhaps the seller used better keywords, or described the item more clearly. It might be a good idea to list your item with the same, or similar title. It is worth it to note however, that you should not copy the description in the listing. This is against eBay's policies, and can get you banned from the site.
Step 3

Craftsman Tools

Find tools to sell. This is easy enough to do. Some of the best selling tools on eBay are Craftsman, Snap On, and Matco. The best way to purchase Crafstman tools to resell is to buy them in bulk. Sears sells Craftsman tools in sets, which lowers the price per tool compared to buying all of the tools individually. For example, you can purchase the Craftsman 239 piece mechanics tool set for $199.99. This translates to the price of each tool being roughly $0.84! If purchased seperately, the 1/2 inch drive ratchet alone costs $22.99. By purchasing it as a part of the set, you are saving $22.15 on this ratchet alone. You could list it on eBay for $12.00 and make a nice profit, while giving your buyers a great deal. You get $11.16 over your cost, and the buyer is saving $10.99 over going to Sears to buy the same ratchet.
Step 4

Snap-On

Find a Matco Tools or Snap On dealer, or buy them through the websites. The best way to find a Snap On or Matco Tools franchisee is to visit a local shop near your home. You can ask a mechanic or the service writer who their Snap On and Matco Tools franchisees are. Most will be more than willing to provide you with their information, and what day they visit that shop. Give them a call, and ask them what time they will arrive at your local auto repair shop, and meet up with them. Don't feel like you are being a nuisance to them. They make their living selling tools, and you are a potential customer. They will be happy to work with you. You have the option of purchasing tools outright, or setting up an account with them.
Step 5

Matco Tools

Inquire about setting up an account with either your local Snap On or Matco Tools dealer. This is a revolving account that works much like a credit card. They will have to check your credit to start an account for you. Your spending limit will be based on your credit history. The better your credit, the higher your spending limit will be. The benefit to having an account with them is that you can purchase much more for a low weekly payment. For example, my bill with Matco Tools is around $8,200 right now. I pay $58.00 per week on this account. Without having an account with them I would most likely have to pay about half of that up front, and then pay over $100 per week on the balance. As you can see, having an account with them will allow you to purchase a lot more tools up front, and then pay them off over time. Note that with an account they do have a minimum purchase amount, usually around $300. This is due to the fact that they are using credit from your spending limit each time you make another purchase. It is not worth it for them to add to your credit account for you to make a $25 purchase.
Step 6

List your tools on eBay. Write a descriptive title with keywords that buyers would use when searching for your item. Be sure to include the brand name of the tool and exactly what it is. For example, "New Matco Tools 3/8" Drive Air Ratchet". This tells your buyers exactly what you are selling, and has keywords that they will be searching for such as, "Matco, Matco Tools, and Air Ratchet". You can list them with a starting bid of $0.99 and watch the bids start flying in, or list them with a set Buy It Now price. I would recommend listing with a starting bid of $0.99 as this attracts the most amount of people, and often results in a higher selling price. If you are new to eBay, you can view my other article "How to get started selling on eBay, and what to expect" for help getting started. (There is a link in the resources section below.)