Top 8 Marketplaces to Buy and Sell Online: Full 2020 Review

Online marketplaces are very beneficial for small retailers. With the help of these online marketplaces, online retailers get an opportunity to reach out to various markets and target newer customers. However, all online buying and selling websites are not beneficial and useful. Click To Tweet Some of them provide a lot of benefits, whereas some levy high fees in return for their services. Hence finding the best place to buy and sell online is very important for all those retailers who want to make it big and spread their wings.

Buy and sell online

We have created a comprehensive list of the best websites to buy and sell online, who have a high customer volume, low fees or are free and a great customer service team.

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Best websites to buy and sell online

Amazon

Amazon is a giant marketplace

Amazon is a giant marketplace, offering the best opportunity for small retailers to buy and sell online their products. Around 25% of revenues generated for Amazon are through third-party sellers who use Amazon’s platform to reach out to its huge customer base.

Other than a huge customer base, Amazon also provides a very simple and easy selling platform for a wide variety of product categories, like beauty products, books, garments, etc.

Individual retail sellers who are eligible for the Fulfillment by Amazon service receive exclusive services from Amazon. Under this service, Amazon store the products, they handle the shipping of the products and their customer service team is responsible for the queries or complaints regarding your products. This helps a small retailer to handle customers from different parts without having to worry about shipping and customer service.

The selling fees to be paid to Amazon include referral fees and closing fees. They have an algorithm to calculate depending on the number of products sold and the category of products. On average the cost is 12% of the selling price, few products may require to shell out as high as 29% of the selling price as fees.

Amazon is a giant marketplace

eBay

eBay

eBay was established in 1995, and today it is one of the most popular and one of the top 3 buy and sell online website in the world. One can list any kind of product on eBay for sales, however, sellers selling branded products or vintage collectibles are the most successful.   The fees for selling online on eBay are around 11%   of the selling price, additional listing fees and monthly subscription fees need to be paid depending on the volume of sales.

Power sellers, who have a huge volume of sale, can have their own eBay store by paying a monthly fee. Having an eBay store is beneficial as the sellers can list a large number of products for free. eBay Stores provides sellers with a huge variety of personalizations for the eBay storefront. They can create their own banner image, images of featured products, increased size of the product photos, categorization of their products, etc.

Retailers or entrepreneurs who want to reach out to the international market, eBay is the best platform. The sellers can reach out to buyers in 101+ countries with the help of the Global Shipping Program.

eBay is the best platform

Though this article is all about valuable information on how to sell online for free, if you are ready to take a thorough, methodical approach, the eBay marketplace could be one of your best bets to take your e-commerce business forward.

Before we delve deeper into the tips of selling items on eBay, let’s have a quick look at why you should explore this vast marketplace.

  • It can be a great learning point where you can thoroughly understand the way you should work with users, how to sell a particular product, how to handle negative feedback ratings, among others.
  • You can put your product in front of a huge number of potential customers in a simple and fast way to see whether it’s getting you good business.
  • You can start with no to little investment. Your expenses will start once you have made a sale and received payment.

However, despite all these advantages, it takes a lot more than posting a couple of auctions to generate steady revenue from this marketplace. Like all the other websites mentioned in this article, you’d need to research thoroughly, plan, and implement your plan. So, let’s get started with the tips that would help you make the most out of eBay.

How to sell successfully on eBay

First of all, if you’re just starting out on this marketplace, it’s always advisable to start slowly, get accustomed with the landscape, understand the rules, and grow your business methodically. Let’s have a look at some key insider tips.

Take a test drive

If you’re completely new to the eBay marketplace, we’d always suggest you to take a test drive on the marketplace first to get accustomed with the system. If you aren’t sure of whether eBay will help you take your e-commerce business forward, you should opt for the regular eBay registration.

How to Sell on eBay

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And if you’re confident about building your business using this marketplace, you can always go with the business account sign-up option.

How to sell on ebay 2

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Having a PayPal account would make it easier for you to get paid as soon as your item sells.

Price your items appropriately

Like all the other websites mentioned in this guide about how to sell online for free, you’d need to understand how to properly price your items on eBay as well. One of the most common mistakes new eBay merchants frequently make is they look at the retail value or active eBay listings. To learn about what eBay buyers have paid for products similar to yours, you’d need to go through completed listings that demonstrate historical sales data. You can watch this video to learn about how you can gather price data with the help of the completed listings filter of eBay.

Understand the cost of selling your products

Fundamentally, the eBay marketplace comes with four types of fees:

  • Insertion fees for having your products listed
  • Final value fees
  • Supplemental services fee
  • Advanced listing upgrades fee which may include the buy-it-now option or fee for bigger pictures

There is a particular number of items that you can insert for free on a monthly basis, depending on the type of your seller account. Have a look at the below image.

How to sell on eBay

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Enhance your feedback score

Every member of the eBay community holds a feedback score depending on his/her trading experience. It’s the number that combines both buying and selling transactions. It’s a really uphill task to get significant sales with a low feedback score. It means, the more feedback you able to earn, the more authentic and trusted you appear as the community member. One of the simple ways to earn feedback is by purchasing a couple of inexpensive items on the marketplace. It’d help you get ratings from the sellers. Once you receive a product in satisfactory condition, leave appropriate feedback for the seller and ask him/her to leave it for you. Once you get a good number of feedbacks, selling your own items on the marketplace would become somewhat easier.

Do adequate research

Each day, a huge number of new listings appear on eBay. So, it’s absolutely crucial that your item description is accurate and fits in the right category to attract potential buyers. You can find the most commonly used search terms by using the eBay Pulse tool from Goofbid as shown in the image below.

How to Sell on eBay 4

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While there are lots of websites that would let you learn how to sell online for free and start your journey as an e-commerce entrepreneur without having your own e-commerce store, eBay remains a popular go-to option for people looking to sell.

eBid

eBid

eBid is predominantly an auction site which was launched in 1998. Sellers auction their products and buyers can bid for them depending on how desperately they need them or at a price which they feel is a fair deal.

Although it is an auction website, sellers can list their products under the category “Run until Sold”, which means their products will remain listed on the website until all of them are sold. It runs on very low fees.

Professional sellers can buy an annual subscription for £99.99. Whereas small sellers can list for free and need to pay a final fee of only 3% of the sales price. It is not a very professional looking website when compared to the other top-selling platforms.

eBid is predominantly an auction site

CQout

CQout

CQout is one of the best online selling platforms from the UK. It was launched in 1999 and is currently catering to more 57 countries across the world.

It is one of the most trusted auction sites in the world. Sellers can list their products individually on the site or through a CQout store. The buyer makes payments through the in-house escrow system called SecurePay. Once a buyer confirms the receipt of the products in satisfying condition, the funds are released from SecurePay to the seller.

Also Read- 15 Best Ways to Find Trending Products to Sell Online

It is a low-cost auction site which charges no listing fees. For the regular auctions conducted, the sellers need to pay a commission ranging between 3% and 6.96%. The rate is determined by the value of the total sale.

Etsy

Etsy selling vintage and handmade products

Etsy is not an ordinary website where you can buy and sell online. This website dedicated for selling vintage and handmade products. It is a niche website which was launched in 2005. It has more than 1.5 million sellers registered, who cater to more than 22.6 million buyers. The ideal place for buyers who are looking for the homemade feel of products.

The fees to sell on Etsy are much lower as compared to Amazon and eBay, it is as low as 3.4% of the selling price. Contrasting to some of the top marketplaces, no subscription program is offered by Etsy. It believes in keeping the rates constant and equal for all types of sellers.

Craigslist

Craigslist

Craigslist is the world’s largest online classifieds website. It is the best place to start if you want to buy and sell online. One can sell almost anything on Craigslist. Sellers who prefer to sell locally and handle their transactions on their own can opt to sell on Craigslist.  A good place to sell expensive or big items.

Selling on Craigslist can be a wonderful sales experience for Small retailers and upcoming online sellers, as the fees are negligible and sales volume are comparatively higher. Sellers do not have to part away with their profits if they sell through Craigslist. However, the downside is that the sellers cannot avail facilities like shipping, customer care etc. which they get from top marketplaces like Amazon, eBay, etc.

Craigslist is the world’s largest online classifieds website

Bonanza

Bonanza is one of the upcoming online marketplaces

Bonanza is one of the upcoming online marketplaces, which has more than 15 million products listed.  More than 30,000 small businesses selling beauty products, art, home products, etc. are registered with it and selling online. Thanks to the low competition, they offer very low fees, making Bonanza the most profitable online marketplace in the US. The fees are around 3.5% of the sale if the value is below $500. For sales over $500, the sellers are charged a fixed fee of $17.5 along with 1.5% of the sale. It is a fixed price marketplace, where no auction is conducted. It is an ideal place to buy and sell online for upcoming sellers and new entrants in the world of online sales.

Also Read- How to Use Facebook Marketplace to Buy and Sell Online?

Ruby Lane

Ruby Lane

Ruby Lane has been specially designed to bring buyers and sellers of exclusive products like antiques, art, vintage figurines, jewelry, etc. It is a niche marketplace but has impressive 1.1 million visitors each month. Ruby Lane is primarily popular in the US, Canada, UK, Australia and Germany. The buyers which visit Ruby Lane are the ones who are educated, and are willing to spend more money on something exclusive, rather than spending hours on eBay or similar searching for bargains. It is the best place to buy and sell online if you deal in antiques, art, jewelry, etc. and your target audience is women over the age of 40.

The seller has to an amount of $100 to set up your store. They have to pay 19 cents for every item listed. One can list up to 80 products on your store for a fixed fee of $69.

Best place to antiques, art, jewelry

Final Thoughts

Thanks to the growing impact of the internet, businesses no longer have to depend on building brick-and-mortar stores to sell their products. Contrarily, ingenious retailers can now take complete advantage of the various online marketplaces to buy and sell online. By selecting the right marketplace, understanding the fees structure, one can efficiently grow their small business and succeed in the years to come. Click To Tweet

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