What is OPP and OPM in Internet auction business? These terms are important for people who want to make money on eBay or other best Internet auction sites.
OPP and OPM means Other People’s Products and Other People’s Money.
For example, you sell something that belongs to somebody else for a fee. You sell the item, collect the money, and then take your fee from it, giving the rest to the person whose product it was. This scheme is great because using OPM you do not need to invest your personal money!
Find someone who wants to sell something and work as a broker. Let’s say they want $100 and you negotiated $20 fee for selling it. The best part of it is that in case the product is sold for $140, you can take not $20 but $40! Surely you need to negotiate that issue before, so that people don’t call you scammer. But basically it’s your problem how to sell it higher, they just need their $100.
By the way, you can work as a broker not only for sales, but also purchases. If one is ready to spend $150 for an item, and you buy it on the auction for $110 – the rest is yours (surely "the rest is yours" should be negotiated before, but this will not be a problem).
What is common about both of these scenarios: you didn’t use any of your own money or your own product. You use OPM and OPP.
You see, eBay is starting to be interesting. More great tips in the next chapter.
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