Profit
From An Ebay Online
Auction Business...
Let's continue with the final 26 Ebay
online auction tips and help to build your eBay online auction business...
75. Accessories
Some people fail to include information about accessories. This is very important since many times people are looking specifically for the accessories/attachments that go along with the item(s).
What if you were buying a weed eater but had a bad back?
You need one that has a good shoulder strap. If the buyer visits your auction and finds the weed eater, you are selling to be exactly what they are looking for and the price is right but there is no strap, you have lost a sale. Include all accessory/attachment information even if you think it has no value.
76. Personal Website
If you have a website where you have many items or even services that would not sell on eBay, consider promoting your eBay auctions through your personal website. This will help increase the traffic to your site and build up the sales at eBay.
One of the best tools for building a high traffic, simple to create website is Solo Build It.
77. Auction Insight
Auction Insight is a great service that you should look at before you list your auction. Auction Insight is a search engine that will go out and review all of the larger online auction sites, looking for your item(s) specified.
In return, you will get a list of prices this same item is selling for on the other auction sites.
78. Build Feedback
If you are new to Ebay
and have no feedback ratings, you should consider purchasing a couple of items yourself to establish a buyer’s feedback.
Because both the buyer and seller’s feedback is rolled into one, building some buyer’s feedback for yourself will help show buyers for your merchandise see that you are a good risk.
79. Escrow Service
If you are selling high priced items such as a car, computer or other technology equipment, a home, etc., you might want to consider offering buyers the use of an escrow service.
Before the auction closes, you and interested buyers would need to set up an agreement as to how the item will be paid for and any other detailed information.
80. Delivery Confirmation
Unfortunately, some buyers will try to say they paid for an item but never received the auction item(s). When shipping, you should consider using delivery confirmation.
This service is generally inexpensive and can end up saving you a ton, especially if the item(s) is higher priced.
81. Online Auction Users Association
If you want to establish quick credibility, you can join the Online Auction Users Association, which requires you to agree to a code of ethics and display the membership logo on all of your auctions. This adds yet one more peace of mind to buyers.
82. Featured Articles
eBay offers both buyers and sellers featured articles that can be helpful. These articles offer diversity and can guide you through some difficult or discouraging challenges.
83. E-Mail Accounts
In addition to your eBay contact and primary e-mail address, you should also consider adding an alternate e-mail address. Just in case something happens to one, you have a backup option for buyers to reach you with a question or problem. The more accessible you are to your buyers, the better.
84. Bid Cancellation
If you discover a bogus bidder has bid on your auction, be sure to cancel their bid before the auction ends, which saves you from losing an honest, paying buyer.
Some of these bogus buyers will be discovered from your own experiences and others you can research through eBay.
85. Alternate Spellings
The “search” option is precise so you need to try breaking words up, creating a better chance for your auction to be found. As an example, if you are selling a lawnmower, list it as “Lawnmower” and “Lawn Mower.”
Another example would be selling a television. You might list it as “television” and “TV.”
86. Summer vs. Winter
Online auctions tend to be a little slower during the summer months when people are outside, on vacation, and just enjoying life. The winter months when people are cooped up in the house tend to be much busier. For this reason, many items difficult to sell or higher priced items should be listed during the winter.
87. Collectibles
When selling antiques or collectibles, you should provide a history of the item(s). If you have artwork for sale in your auction, provide the buyer with its origin.
People love to have history, especially when it comes to collectibles, which is part of what adds to its value. Without embellishing, make the story a good one.
88. Reserve Pricing
Reserve pricing cannot be seen by the buyer, leaving them to question how much you are really asking.
For example, if you had an office printer for sale, you might list a reserve price, or a “hidden” base figure of $100. However, to the buyers, in their opinion, this printer is not worth more than $60 since this is the average price from other sellers for similar equipment.
As the buyers start bidding close to $60 and they see that the reserve has still not yet been met, they will quickly stop bidding, unsure of what your “hidden” base is.
When you use reserve pricing, it does not help to build buyer/seller confidence and should be avoided.
89. Professional Ads
Keeping with the importance of a professional looking auction, if you need assistance, use the Instant Ad Creator, which will walk you through the process to a great looking ad.
90. Integrity
Regardless of whom the buyer, work with integrity and run your auctions accordingly. More than likely, you will run into some difficult buyers, although not often.
Keep in mind that every buyer provides the best form of advertisement - word of mouth. Integrity is what will draw customers in and keep them coming back along with friends and family.
91. Openness
If a buyer makes a recommendation, listen. That does not always mean you will agree or even like their recommendations but if they have something to say, it might be something important to making your auction site better for future buyers.
For example, if your shipping information seems muddled to the buyer but clear to you, you need to review what you have written. If the customer is struggling with understanding, that is truly what matters.
92. Product Knowledge
Just like working a job that you love, if you plan to get serious about selling on
Ebay, focus on things you know about and provide interest. In turn, this will allow you to “sell” the product with knowledge and passion.
93. Entrepreneur Spirit
Rather than just look at this as selling items on eBay, adopt an entrepreneur spirit. Get serious about this venture and look at is like a business rather than just getting rid of things you no longer want laying around the house.
94. Keeping Good Records
You need to establish a sound recording system. This system would consist of the item name, any associated reserve price (although not recommended for your auction), description, flaws, buyer’s name, price sold for, payment received date, etc.
This helps to ensure the entire transaction for that item is complete from beginning to end and provides you with information should you need to list that same item or a similar item. Additionally, the record will help you know what your income was, based solely on your specific auctions.
95. Terms & Conditions
You will run into all types of buyers that try to move past the terms and conditions provided by eBay. Know the T&C’s inside and out and if you have problems, contact eBay immediately. A few examples of the insider secrets are listed below:
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Bid Shielding – Two buyers work together. One person bids high to protect a low bid place by the other person. Right before the auction closes, the high bidder cancels, meaning the low bidder gets your item(s) for a huge bargain.
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Bid Shilling – This is where the seller actually uses a separate ID set up to inflate the number and price of the bid.
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Deadbeat Bidder – The deadbeat bidder bids on your auction and then simply fails to pay.
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Sniping – A “sniper” is a bidder that waits until there are only minutes or seconds left on an item and then quickly bids just a little higher to get the item(s). Although not against the T&C’s, it is considered unprofessional and limits competing bidders from driving a high price.
96. Test, test, test
To avoid costly mistakes, test yourself. When you get started, try something a little bit different to see which auction gets the most attention. Take note of what is working by putting different options to the test. This will help you build a strong, working process that will make your auctions sell.
97. Small but Expensive
One of the best ways to make good money on eBay is to sell small but expensive items. This allows you to move more items without the bulk of heavy shipping and to move fewer items while making more money. This type of selling provides you with a much higher profit margin.
98. Specialize
While many sellers on eBay sell anything you can imagine, many of the power sellers specialize. Rather than offer 100 different items with no real connection, focus in on something that you can offer several varieties and then change those varieties out from time to time.
Two great examples are purses and shoes, and paintings. You are staying in the same category but providing a multitude of options.
Gotham Online is a perfect example. They have their website, shopgco.com, listed with eBay and offer a tremendous value on high quality men and women’s shoes.
Once the buyer finds the value of this site, the next time they need shoes, they will go back to this site, either through eBay or directly to the URL. However, the buyer will not become bored since the styles and brands of shoes rotate on a consistent basis.
99. Wholesale Products
Some eBay sellers create a business relationship with suppliers. As you find reliable suppliers, you can be assured of the quality and bargain of the merchandise.
If you are not sure where to find suppliers, you can visit Worldwide Brands where there are thousands of wholesale products, with the majority coming from reliable suppliers.
100. Drop Ship
Another option many power eBay sellers use is to Drop Ship. This is where the seller acts as the agent between the buyer and the merchandiser. In fact, the merchandise sold does not belong to the seller and the seller does not even have to make the shipments.
This is actually a strategy used by many small businesses. The Drop Ship option allows the manufacturer to sell more merchandise while the eBay seller makes money.
Again, for finding thousands of
products that you can sell on eBay, check out Worldwide Brands if you are serious about selling.
101. Hobby into Profit
If you have a favorite hobby, such as creating custom wreaths or swags, making homemade soaps or lotions, sewing stuffed animals, whatever it might be, put it to work for you. Turn your hobby into a business using eBay. People do it all the time and make good money.
When it comes to selling on eBay, the door of opportunity stands wide open. Opportunity is what you decide to make it.
As mentioned in the beginning, people literally buy and sell just about everything on eBay. For this reason, do not think that items you have would not be of interest to anyone because more than likely, they will be.
Give it a try – what do you have to lose but money and a lot of fun? Check out the fastest
way of creating a business selling
products and services on Ebay here
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