Now that I’m closer to having a zero net worth, I’m really itching to pay down my debt as fast as possible. Recently, I’ve taken a look at placing some rarely used items up for grabs on ebay.

I’ve already made some good progress on my items – not a large sum, but still a few hundred to toss towards my debt.

I’m not a frequent user of ebay, but I have used the site enough – both as a buyer and seller – to understand a few of the components that can make for a positive experience:

1. Build your reputation

If you have an old ebay account – hold on to it (again, similar to a credit card with the longest history). If you don’t have an ebay account, sign up for one now – even if you don’t plan on using it right away. Like financial credit, your history and reputation means a lot in ebay, especially if you’re selling things.

A word of advice though, think of a good name that you won’t mind hanging on to for a while. I signed up for my ebay account a really long time ago and my username is pretty silly, but I won’t change it, regardless of how badly I’d like to, since I have a solid reputation tied to that name that has been built over many years, even though I’m not a frequent user.

Once you have your account, the most important thing is to take care of your reputation whether you’re buying or selling. Your rating helps you stand out from the crowd and reassures others that you can be trusted.

2. Know your goal

The Gordon Gekko strategy doesn’t often work here – it’s best to come in with a reasonable purpose. For example, I’m in debt and I never use what I’m putting up for sale. I’m not going to hike the price so high that I discourage bids and I’m willing to hear offers if they’re reasonable (i.e. reduced or no shipping charge).

3. Be real

Write accurate descriptions, and use real pictures when at all possible.  I’ve used pictures off the internet or suggested photos from ebay before and I’m always met with skepticism. Whenever you’re selling something on ebay, always try and think as if you were on the buyers end – how would you perceive you the seller?

To that end, always provide fast and detailed feedback to the other party – again, remember your reputation is the most important thing you have going for you. A positive review goes a long way.

Although I’m not an ebay pro by any means, the three tips mentioned above have worked pretty well for me. Do you have any tips to add?