A SAVVY seller has shared how they managed to make thousands of pounds by flogging goods on eBay.

Joseph Holman made £250,000 profits as a teenager selling items on eBay, using the cash to buy his first Porsche.

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The Luton-based businessman became known locally as “The eBay King’”thanks to his ability to turn clobber into cash.

He now runs his own eco-friendly home furnishing brand, known as Green Doors, but he has been making money from eBay since he was just a kid.

As a pre-teen Holman invested his birthday and pocket money into a bulk order of magnetic ‘stick and ball’ games, which he then sold on individually.

Joseph, now 33, ended up netting a profit of around £2,000 in just six weeks.

“I was hooked on buying and selling anything I could,” he shared.

By the time he was 16 the savvy youngster had £30,000 saved up from eBay profits, eventually purchasing a moped to make deliveries.

The following year he bought a car, which he said made selling larger items possible as he could go and pick them up.

This decision helped him bag £50,000.

His friends started calling him the “The eBay King”, earning the name by selling everything from soaps to statues and baths to bikes.

He added: “By the time I was 20, I had made over two hundred grand, all from selling things on eBay.”

Joesph is sharing his tips for success after eBay announced it had scrapped fees for private sellers, making it more profitable to sell on the platform.

Now sellers using the marketplace can take home more money when they flog secondhand items including CDs, books, toys and furniture.

Before the change, private sellers had to pay an enormous fee of 13.22% when selling items on eBay.

These included a 12.8% “final value” fee plus 30p per order and 0.42% “regulatory operating” fee.

For a seller listing a chest of drawers worth £20 the change would save them £2.94 in fees.

They will now take home the full £20 instead of the previous £17.06.

For items worth just one or two pounds the fee changes will have an even greater impact.

This is because previously there was a fixed 30p element to how the final value fee was calculated.

On a £3 transaction, this would be equal to 10% of the seller’s total profit, without including the other elements of the fees.

It comes just months after eBay slashed fees to sell secondhand clothes on its website in a bid to compete with other platforms including Vinted and Depop.

Here are Joseph’s top tips for making money on eBay.

Do your research

The eBay king recommends carefully researching the product you are selling – and taking a simple screenshot can mean bagging a buyer willing to pay more.

He said: “Try to find the highest original Recommended Retail Price (RRP) online, take a screenshot of this, and add it to the eBay photos.

The RRP is the price a manufacturer suggests a retailer should sell a product for, but in some cases they can charge higher or lower.

Joesph said by showing customers the highest RRP they can see how much they are saving if they bought it somewhere else.

Cause a stir

To make sure your product stands out Joseph said to list your items as “Buy it Now/Best Offer”’.

By listing your product as “Buy it Now” it means customers can snap it up immediately for a fixed price that you as the seller have decided on.

Alternatively, you can list it as “Best Offer” which allows sellers to invite buyers to negotiate the price of an item.

 For example, you can list an item for £60 but be open to offers either higher or lower.

“This allows customers to quickly purchase your product, rather than waiting for an auction to end, which they might forget to bid on,” he said.

You can set your preferences to automatically accept or decline offers of a certain amount, and use the counteroffer feature to negotiate with prospective buyers.

The counteroffer allows sellers to come back with a different price than the buyer offered.

For example, if someone offers £40 for an item you can go back and suggest they pay £50.

The buyer has 48 hours to accept the new offer from the seller.

Ensure your item is looking the best

Joseph said it is important to know your audience and provide lots of pictures of the item you’re selling to ensure you make a sale.

He said: “Take the maximum number of photos you can upload and a video if necessary, so the customer can see all angles.”

The pro also said sellers should describe any defects to demonstrate that “you’re an honest seller, and provide a clear and engaging description”.

He added: “Understand the product and the type of customer it will attract – listings for a piece of art should be more detailed than those for an IKEA chair.”

Use keywords

When listing an item sellers should also consider using keywords to make their product stand out.

“The eBay title is crucial, especially the first four words, as they affect the algorithm,” Joesph said.

“Make sure to use relevant keywords first and use the entire space available for the title.”

When doing this sellers should pick three to five keywords that relate closely to their item.

Ask yourself what words people are likely to use in a search engine when looking for what you’re selling.

For example, if you are selling a dress from a specific brand make sure you use that in your title.

Once you have these keywords, use them appropriately in your listing title and item description.

You should make sure that you do not make any typos in keywords or listing titles as this can stop customers from finding your product.

eBay is not the only platform you can sell your goods on.

The Sun recently shared top tricks and tips for how to make your items stand out on Vinted.

You can read more about this by clicking the link here.

Commercial legal finance, or litigation funding, litigation finance, or third-party funding, involves businesses and law firms utilizing funds from an external financial provider to cover commercial litigation and arbitration costs.

This funding can take various forms (such as fees, expenses, advances, or portfolio funding) and does not affect control, which stays with the claimant. Normally non-recourse, the capital does not involve debt, with the investment and returns contingent upon a successful resolution.

What Are the Benefits of Legal Aid

Legal aid is frequently the sole support for individuals confronting impactful outcomes like losing their residence, job, or custody of their children.

Studies indicate that offering legal services “substantially reduces cases of domestic violence.” The help provided varies based on the client’s legal issue.

Legal aid attorneys support clients in diverse areas beyond courtrooms, represent them during legal proceedings, and frequently spearhead intricate legal efforts aiming to bring about systemic changes that impact numerous individuals in similar situations.

Who Qualifies for Legal Aid?

Despite the dedicated efforts of lawyers who frequently dedicate their careers to assisting low-income individuals, programs lack sufficient resources. They must prioritize helping the most disadvantaged clients with a limited number of critical legal issues.

Despite this, around half of eligible individuals seeking help from legal aid programs cannot receive assistance. Those who do receive help usually get brief advice and limited services. Those who are not helped must depend on self-help materials and legal information, which are also inaccessible to everyone in need.

Why Businesses Opt for Litigation Financing

Litigation financing provides numerous benefits that appeal to companies dealing with expensive legal disputes. This guide to litigation finance offers additional details on the topic, including why businesses opt for this form of financial support.

Here are several primary reasons why businesses are increasingly embracing this type of financial assistance.

Financial Support

Legal disputes are known for their high costs. With expenses such as attorney fees and court charges, the financial burden escalates rapidly.

Litigation financing eases this financial pressure. This enables businesses to concentrate on their core activities without the concern of growing legal fees.

Risk Mitigation

Litigation inherently carries risks. Even strong cases can crumble, resulting in substantial financial setbacks. Through litigation financing, companies can shift some of this risk to the financing entity.

If the case doesn’t succeed, the business is typically not obligated to reimburse the funds, making it a more secure option.

Resource Allocation

By obtaining external financing, businesses can distribute their internal resources more effectively. Instead of drawing funds from vital areas like research and development or marketing, companies can utilize litigation funding for legal costs. This strategy ensures that legal challenges do not hinder the company’s progress and creativity.

Who Provides Legal Aid?

Legal aid providers come in various sizes and focus areas; some cater to local needs or specialize in specific issues like domestic violence or employment practices, while others handle cases citywide or statewide with minimal constraints on the type of cases.

The total funding for civil legal aid delivery in the U.S. is approximately $1.345 billion. The Legal Services Corporation is the country’s primary financial legal assistance supporter initiative, contributing roughly a quarter of this funding.

LSC, a federally funded nonprofit organization, distributes grants to 134 recipients nationwide. Unlike other funding sources for civil legal aid, grantees receiving federal aid from LSC must adhere to specific advocacy and client eligibility regulations.

Endnote

Seeking legal information and resources demonstrates strength and a proactive stance in safeguarding your interests. Feel free to contact us for assistance, even if you have doubts about eligibility. Let your legal aid organization assess your eligibility and choose to handle your case.

There is still time to register for our flagship conference, Money Marketing Interactive London, which takes place in five days’ time.

This not-to-be missed event, in association with Fundment, will be held at Convene, 155 Bishopsgate, on Tuesday, 8 October.

The day will be packed with intriguing sessions led by industry experts and thought leaders.

Some of the subjects they will explore include the impact of the Consumer Duty twelve months on and the implications of the FCA’s new SDR proposals.

MMI London will feature practical sessions on key supplier relationships including platforms, back-office systems, and investment management options as well as run the rule over tax planning and investment strategies to help advisers provide value-added advice.

NextGen Planners will also be there to talk more on philanthropy and sustainable investing.

Our keynote speaker, broadcaster and journalist will chat to delegates about the impact of the new Labour government on financial regulation.

Timeline’s CEO Abraham Okusanya and Benchmark Capital CEO Ed Dymott will be among those on a panel discussion to help you choose the right tech stack for your business.

The event will give people the chance to connect with peers, experts and potential collaborators during our networking sessions.

The conference is not just about gaining knowledge; it’s an opportunity to foster meaningful relationships that can drive your business’ success.

There will be workshops from SimplyBiz, Albemarle Street Partners, HSBC Life, EV, Verve and a breakfast briefing by The Financial Planning Club too.

Workshop selections are now closed, but there is still opportunity to sign up on the day at the registration desk.

Reserve your 5-hour CPD accredited place today and join us.

You can register for free here.

To see the full agenda, click this link.

THE areas where house prices are falling the most and the “affordable” locations where they’re rising have been revealed.

A typical home in the UK was worth £267,100 in August, 0.7%, or £1,970, more than a year ago, according to Zoopla.

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On a monthly basis, the value of a typical home rose by £700.

House prices are now on track to rise 2.5% higher by the end of the year, Zoopla estimates.

Property sales have increased as mortgage rates are now at their lowest level for 15 months, making it cheaper for homeowners to borrow money.

A borrower who is looking to remortgage and owns 25% of their home can now lock into a five-year deal at 4.3% down from 5.5% a year ago.

On a loan with £250,000 left to pay this would be equivalent to a £250 decrease in the amount they would need to spend on their mortgage each month.

Meanwhile, interest rates have continued to fall as lenders compete with each other to attract borrowers.

The number of buyers looking for a new home and homeowners putting their property on the market has risen as a result.

As more buyers return to the market the level of competition for each home has increased, which has moderately pushed up property prices.

The website said affordability continues to constrain house price growth, particularly in southern England.

Greater choice for home buyers is also expected to keep house price growth in check in the months ahead.

And not all homes are fresh to the market. A fifth of homes currently for sale were previously on the market at some stage in the past two years, according to Zoopla’s data.

Setting the right price is important to attract buyers, Zoopla said.

How have prices changed per region?

Manchester has seen the greatest increase in house prices of any region in England, with the value of a typical property up 2.3% in the past year.

An average home in the city is now worth £227,200.

Liverpool has also seen prices climb in the past 12 months, pushing up the value of a typical property to £160,400, which is 2% higher than a year ago.

But not all regions have seen house prices rise in the last year.

Aberdeen and Glasgow have both seen prices tumble by 1% since last August, the greatest fall of any UK region.

A typical home in Aberdeen is now worth £135,700 while in Glasgow it’s £150,200.

Cambridge also saw prices edge down by 0.1% in the past year but the value of an average home is still well above the national average.

A typical property in the area was worth £469,300 in August, £202,200 more than the national average.

Meanwhile, prices remained unchanged in Bournemouth and Leicester over the past year.

A typical home in Bournemouth is still worth £333,800 after seeing nothing added to its value in the past 12 months.

Meanwhile, an average property in Leicester is worth £226,200 after its value failed to increase in the past year.

Here are the average prices in August and their annual change, according to Zoopla:

• Belfast – £1,78,200, 5.1%
• Manchester – £227,200, 2.3%
• Liverpool – £160,400, 2%
• Glasgow – £150,200, 1.9%
• Leeds – £210,600, 1.7%
• Cardiff – £256,000, 1.6%
• Sheffield – £173,300, 1.4%
• Birmingham – £211,800, 1.3%
• Newcastle – £155,400, 1%
• Nottingham – £203,700, 0.9%
• Edinburgh – £273,400, 0.8%
• Oxford – £452,000, 0.6%
• Bristol – £340,100, 0.3%
• Southampton – £258,400, 0.2%
• Bournemouth – £333,800, 0%
• Leicester – £226,200, 0%
• Cambridge – £469,300, -0.1%
• Aberdeen – £135,700, -0.1%
• Portsmouth – £279,800, -1%

Richard Donnell, executive director at Zoopla said: “Lower mortgage rates are delivering a much-needed confidence boost to homeowners, many of whom have sat on the sidelines over the last two years. 

“Market activity is up across the board and expectations of lower borrowing costs will continue to bring buyers and sellers into the market.”

Who else tracks house prices?

Halifax is part of Lloyds Group, which is the UK’s biggest mortgage lender.

Its monthly house price index is based on the mortgage data it holds and has been going since 1983.

It’s one of several key barometers of the property market.

The official measure of house prices is from the Office for National Statistics, which uses data from the Land Registry where the actual sold price is recorded.

This is the most accurate of all the indices, but the figures come out three months after the homes are sold, so there’s a big time lag.

Halifax and Nationwide each publish a monthly index tracking the average prices of homes on which they provide mortgages.

While they do adjust their figures to iron out big outliers, both lenders measure average house prices based on the properties they see.

As it’s based on mortgage approvals, cash buyers are not included.

Rightmove and Zoopla also publish monthly house price data.

The former is based on asking prices from the property listings on its website.

The latter uses sold prices, mortgage valuations and data on agreed sales.

Neither takes into account the price a property actually sold for like the ONS Land Registry, which could end up being higher or lower and some might not even sell at all.

Here’s the latest data from other indices:

• Rightmove (September 2024) +0.8% monthly, +1.2% annually
• Nationwide (August 2024) +0.7% monthly, +3.2% annually
• Halifax (August 2024) +0.3% monthly, +4.3% annually
• ONS Land Registry (July 2024) +2.2% monthly, +2.2% annually

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

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BANK payments for millions of customers could be paused by up to four days as part of a crackdown on fraudsters.

Banks and building societies currently have up to the end of the next business day to process or decline a transfer.

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But under new Government legislation coming into effect at the end of the month, this will be extended by an extra 72 hours.

It will give banks more time to investigate potentially fraudulent activity that can see customers scammed out of their hard-earned cash.

It comes as Government figures reveal an estimated £460million was lost to fraud just last year.

Tulip Siddiq, economic secretary to the Treasury, said: “Hundreds of millions of pounds are lost to scammers each year, targeting vulnerable communities and ruining the lives of ordinary people.

“We need to protect these people better, which is why we are giving banks more time to investigate suspicious payments and break the criminal spell that scammers weave.”

The new law will better protect a growing number of vulnerable customers targeted by purchase and “romance” scams.

These scams see victims targeted and tricked into transferring large amounts of money.

Ben Donaldson, UK Finance managing director of economic crime, said it was “delighted” to see the new legislation put forward.

He added: “This could allow payment service providers time to get in touch with customers and give them the advice and support they need to avoid being coerced by the criminals who want to steal their money.

“This could potentially limit the psychological harms that these awful crimes can cause and stop money getting into the hands of criminals.”

Under the new rules, banks who believe a customer could be scammed will need to tell them if their payment is being delayed.

They will also have to explain to the customer what they need to do to unblock any payments and compensate them for any interest or late payment fees they receive because of any delays.

Rocio Concha, director of policy and advocacy from Which?, said the new law was a “positive step in the fight against fraud”.

“While it should not affect the vast majority of everyday payments, it’s important that banks can delay a bank transfer and take action if they think a customer is being targeted by a scam.”

The new rules on extending the time banks have to investigate fraudulent transfers will come in just weeks after the introduction of a fresh scheme on fraud compensation.

UK banks currently don’t have to compensate customers who have been scammed out of money.

However, from next Monday (October 7), refunds up to a cap of £85,000 will become compulsory.

Nicola Bannister, customer support direct at TSB, said the bank welcomed the new rules coming into force.

She added: “Social media and telephone companies must now work tirelessly to cut fraud off at source and protect their users from scam content.”

How to protect yourself from fraud

While the Government’s new law will go some way to protecting customers from being scammed, there are other steps you can take to avoid being conned out of cash, according to Action Fraud.

First, never give out any personal information including your name, address, bank details, email or phone number, to organisations before checking they are legitimate.

And always think twice when receiving an unsolicited call, text or email requesting these types of details.

Instead, contact the company directly using a known email or phone number.

Second, make sure your computer, laptop and phone has up-to-date anti-virus software installed which will block any malware.

Third, always keep an eye out for phishing emails or texts which pretend to be legitimate but are designed to steal your personal information.

These messages usually come with a link which, if clicked on, can see your personal information including bank details stolen.

Fourth, be wary of post, phone calls or emails offering you business deals out of the blue.

If an offer seems too good to be true, it probably is, so always question it.