I’m an Ebay Power Seller and I sell one item that dozens of other sellers have listed. My price is towards the high end, but I have very high positive feedback and do ok. I advise you to look for what other sellers have, check the completed auctions for percentage sold and price and then find a source that can supply item at a good price. You want something easy to ship or an item you can have drop shipped.
Note: Paypal Has To Report To IRS via 1099K. The new Housing and Economic Recovery Act signed into law requires Paypal and others to report to the IRS. This law will take affect in 2011 and will be reported in 2012 for the 2011 tax year.
You are excluded from having your info reported if:
1. If you receive less than $20,000 a year in payments; and
2. If you have less than 200 payments.