eBay's lesser-known Sell For Me service is getting some attention today courtesy of a new iPhone app called eBay Valet. For those willing to give up 30 percent of the profits from a sale, eBay will handle virtually every aspect of the process.

Here's how it works. Much like the desktop client, you'll simply need to take a few pictures of the item in question and send them along with a description (either text or voice) to eBay. Within half an hour, you'll get a reply back with an estimated valuation range for your product.

If the quoted price range is acceptable, eBay will send you a shipping label (and a box, too, if you need one) with instructions to mail the item to them. Once they receive it, they'll snap some high-resolution images, set up an auction and sell the item for you. eBay even handles any complaints that may arise on your behalf. Items that go unsold will either be returned (for a fee) or recycled.

There are a few restrictions worth pointing out. eBay Valet won't sell anything in poor condition, anything valued under $40, items heavier than 25 pounds, fragile items, media, licenses or codes, clothing and high-value items that need to be authenticated.

eBay's vice president of Innovation and New Ventures, Steve Yankovich, said that even though you're not selling the item, there's still an experience of selling. You get to experience the listing but do none of the work, he added.

For first-timers and those that don't have time to do everything on their own, it certainly seems like a solid offering and an easy way to free up some space in the closet / garage while earning some spare cash in the process.