Ebay Auction Tips
Buying things in an auction is the most affordable way to obtain the item a person wishes to have. That is why even the Internet had provided such sites like eBay in order to provide more affordable items than what the typical market has to offer.
Best of all, net auctions sites like eBay can provide a number of potential profits for the small time entrepreneurs who want to, in some or way or another, earn extra income.
Through eBay, sellers do not have to build a site just to sell. In fact, there's no investment capital needed in order to start the business.
There just simple things a seller has to do in order to come up with a good sale. Here are some things the seller has to know before putting up a sale:
1. The Market Value
It's a must for every seller to do some homework first regarding the price of the item in the market. This is to enable the seller to come up with a price that is reasonable enough to compensate the purchasing power of the buyer and the much-needed profit of the seller as well.
The seller may also look for the other sites that offer the same item so as to give him or her an insight on how he or she should stipulate the price.
2. The item description.
It is important for a seller to come up with a detailed description of the item. That is, the seller should be honest enough to put everything that depicts the items actual state and appearance. It should be based more on information and not just propaganda.
3. The photograph.
Pictures are enough to sell the item. But it takes skill to get the right angle and the perfect aura of the item so as to illustrate the best point of view. If the item is clear enough for the buyer to see its specifications, chances are, the buyer will purchase it.
4. The seller's requirements.
It is an essential thing for the seller to state his or her payment requirements. It's best for the sellers to include everything especially the additional charges that will apply like shipping fees.
5. The customer service.
In order for the seller to close a sale, he or she must be well adept on customer service. That is, the seller should know that it is important to reply on a buyer's inquiry, to answer whenever there is confusion, and to do some follow-ups even if the transaction is finished.
As they say, a happy buyer makes a happy seller.
Some Pointers On Shopping In An Online Auction
So if you are like most people than you are slowly becoming used to the idea of the internet and may have even started to shop online. The security of the internet, given the proper precautions, has gotten to the point that risk is minimal. This makes the convenience of doing business over the internet that much more appealing. So what about online auctions, are there any associated risks or things that should be known so that you don't make a big mistake and pay for it dearly? Well in the next few paragraphs I want to go over some common sense pointers that will help you to make wise decisions the next time you start looking for something on ebay.
The first two pointers actually would apply to any purchase that you make, especially if it is a purchase that you don't routinely make. First do research on what you want to buy so that you have a very specific set of criteria that the product must fulfill in order to be satisfactory. This allows you to learn what a good price is for the exact features and specifications that you want/need. This also eliminates the possibility that you will buy a product only to be disappointed that it doesn't have a certain function when you just assumed that every thing in that category of product would. This happens all too commonly with purchases in general and when you buy things in an online auction you have to be especially careful that you know exactly what you are getting.
The second pointer is the axiom "deals come and deals go." That is that you should be careful not to get sucked into the feeling of competition that many people who purchase on online auctions do. You need to have a price set in your mind that you won't go over on and you must not compromise. With a little patience and sometimes a run of good luck you will get the item you want for the great deal that you are counting on.
The third pointer is that you don't have to be satisfied with only getting used merchandise in an online auction. More and more everyday there are online stores that are functioning just like a typical store would down the street from you. Two helpful abbreviations to remember are NWT which stands for New With Tags and NWOT which obviously means New WithOut Tags.
My last piece of advise is to be careful with hidden costs, namely shipping. Many online auction sellers like to lower the price of their product by increasing the flat rate of shipping that they charge. Often if you look closely at the deals something that is going for a little more is actually the cheaper deal because they are being sleazy and gouging you with horrendous shipping costs. That's it, have fun!
Distinguishing The Differences Between Auctions
It seems like new information is discovered about something every day. And the topic of auctions is no exception. Keep reading to get the most current auction information available.
Learn about the differences between various types of auctions, on and offline.
English auction: This is what most people think of as an auction. Participants bid openly against one another, with each bid being higher than the previous bid. The auction ends when no participant is willing to bid further, or when a pre-determined "buy-out" price is reached, at which point the highest bidder pays the price. The seller may set a 'reserve' price and if the auctioneer fails to raise a bid higher than this reserve the sale may not go ahead.
Dutch auction: In the traditional Dutch auction the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer's price, or a predetermined minimum price is reached. That participant pays the last announced price. This type of auction is convenient when it is important to auction goods quickly, since a sale never requires more than one bid.
The Dutch auction is named for its best known example, the Dutch tulip auctions; in the Netherlands this type of auction is actually known as a "Chinese auction". "Dutch auction" is also sometimes used to describe online auctions where several identical goods are sold simultaneously to an equal number of high bidders. Economists call the latter auction a multi-unit English ascending auction.
Sealed High-Bid Auction: In this type of auction all bidders simultaneously submit bids so that no bidder knows the bid of any other participant. The highest bidder pays the price they submitted.
Vickrey auction: Also known as the sealed second-price auction. This is identical to the sealed high-bid auction, except the winning bidder pays the second highest bid rather than their own.
Silent auction: This is a sealed variant often used in charity events, but involving the simultaneous sale of multiple items. Participants submit bids normally on paper, near the item. They may or may not know how many other people are bidding or what their bids are. The highest bidder pays the price they submitted.
Procurement auction: This kind of auction reverses the roles of seller and buyer. The buyer puts out an RFQ for a given commodity and providers offer progressively lower prices in hopes of getting the business. At the end of the auction, the lowest bid wins.
Digital art auction: In this indefinitely long auction, designed for unreleased works that are trivially reproducible at zero cost (recordings, software, drug formulae), bidders openly submit their maximum bids. The seller may review the bids and close with a price of their choosing at any time. The successful bidders that pay this price are those whose bid meets or exceeds it.
Open outcry auction: This type of auction can refer to any auction where the auction is conducted orally for people to hear typically used in stock exchanges and commodity exchanges, where trading occurs on a trading floor and traders may enter verbal bids and offers simultaneously. This type of auction is being replaced by electronic trading platforms.
Unique bid auction: In this type of auction users post blind bids and are given a range of prices they can place a bid in, often a capped limit. The highest, or lowest, unique bid wins. For instance an auction is given a maximum bid of 10. If the top five bids are 10, 10, 9, 8, 8 then 9 would be the winner being the highest unique bid. This is a popular online type of auction.
Buy-out auction: This auction has a predetermined buy-out price in which the bidder can end the auction by accepting the buy-out price. The buy-out price is set by the seller. The bidder can choose to bid or use the buy-out option. If no bidder chooses to utilize the buy-out option, the auction ends with the highest bidder winning the auction. You can often find this type of auction on eBay.
Be sure you understand the type of auction you are participating in before it starts. Sometimes mistakes made at an auction can smart and be costly if you don't know what you are doing.
Avoiding Ebay Buying Pitfalls With These Friendly Tips
As with any market, trading on eBay is not without its hassles and snags.
First of all, it should be duly noted that eBay is an online market/transaction facilitator. It merely becomes a means for the buyer and the seller to meet.
Because of its online nature, eBay's auction listing provides the buyers with a wide selection of goods. The buyers are also enabled to review the seller through the seller's feedback rating. This helps the buyer decide whether or not to pursue the trade.
The sellers on the other hand, benefit from a wider audience due to the popularity of the Internet and eBay. eBay enables them to post easily, quickly, and extensively.
When eBay connects buyer and seller, the transactions truly begin as well as the headaches.
Even with the automated nature of most of today's transactions, eBay is still built on the basic foundation of trading: trust.
A good deal of trust is involved in eBay trading. The buyer has to trust that the seller is listing a legitimate item, and that he or she will deliver that item when paid. The seller, on the other hand, has to trust the buyer to pay fully and without any hidden catches.
Here are a few of the problems one may encounter when using eBay.
- Seller does not deliver product
This is a buyer's biggest fear. However, it is also one of the most common snags buyers encounter. Usually, when closing a deal, the seller will email purchase instructions to the buyer. This will usually include instructions for payment. The seller will then promise to have the item delivered upon receipt of payment.
If the buyer, after fulfilling his or her part, does not receive the item within the agreed upon date, he or she should immediately try contacting the seller. If this proves to be fruitless, he or she should file a complaint with eBay for assistance regarding the transaction.
- Seller delivers a different/defective product
Sometimes the trading is smooth. Everything goes according to schedule. However, upon receipt of the item, the buyer finds out that the item is significantly different from its description on eBay.
What should the buyer do about this?
Good communication between the buyer and seller usually brings about a speedy and satisfying end to any trading dispute. This should always be the first step when handling a dispute.
- Seller cannot be contacted for questions when closing deal
Most disputes come about due to miscommunication between seller and buyer. But if the seller can not be contacted, that presents a bigger problem for the buyer especially if that person has already fulfilled payment of the item. Contacting eBay may help to resolve this problem and they are sometimes willing to supply further information about the seller.
Ebay Gift Certificates Save By Buying Ebay Gift Certificates
Now that online shoppers have realized the true potential of online shopping with eBay, they offer their customers a better and easier (not to mention cheaper) way of doing their transactions with eBay. eBay Gift Certificates!
But the customers and all online shoppers must always be careful about the terms and/or conditions regarding the gift certificates. Always be alert and reminded about the expiration date of the gift certificates, this way, customers can always make full use of their eBay GCs. The gift certificates from eBay are wonderful gifts to the people dear to us. With an eBay gift certificate, we share the joys of shopping online through eBay.
eBay gift certificates are available to anyone who wishes to buy one. No eBay registration or eBay membership is required to get your hands on this baby. They can be purchased though PayPal. One of its yet better points is that while paying for your gift certificate, you can choose to sign up for your account at PayPal.
But as anything, there is a catch. The catch is not all eBay gift certificates will be redeemed. Only those that pass the following requirements will be redeemed.
1. The one who sells the item on sale accepts PayPal as one of the ways to pay for their merchandise.
2. The original price of the item on sale must be in Pounds Sterling, Canadian Dollars, Euros or US Dollars.
3. The owner of the GC has ten days after the item on sale has been closed at eBay to pay for the merchandise through PayPal.
There are rare occasions that and eBay gift certificate will expire. Customers or purchasers of the gift certificates are also not required to pay maintenance fees on unused balances of the gift certificate. If the price of the item that a customer is buying cannot be covered by the gift certificate alone, the buyer needs to supply the remaining balance through paying from another fund source at PayPal (which can either be credit card or bank account).
eBay gift certificates can be spent when the customer wishes to buy an item or have won an item at eBay that passes the requirements mentioned above. To do this, when you have chosen the item that you want, select the word Paypal for your payment method. (Don't panic if it reroutes you to the PayPal site, this really happens) Log in to PayPal and write down the redemption codes found in the Check Payment Detail. Look for the Add/Select button and click on that to enable you to use your GC. You redeem your gift certificates this way and the seller of the item receives the payment through PayPal.
Succeeding As A Seller On E Bay
Being successful is almost everyone's dreams this day and being successful in E-Bay could be a reality once you set your heart into it. Like in any other business, patience and perseverance in the world of E-Bay are factors needed to ensure that you are going to be successful here.
Aside from those virtues, a lot of strategic planning is needed to ensure one's success in E-Bay. The first thing that you could do is to mark your territory. This means that you should be able to determine on what kind of specialization you would like. For example, your area of specialization is books therefore you should focus yourself first in establishing a name in the books category before eventually branching out your items. This would help you in establishing a name through categories thus forming a solid foundation for your business. In terms of products, remember that a wide margin market is important therefore products should not be too expensive. Products that are easy to dispose of as well as in demand are great investments for people that are planning to be successful in the world of E-Bay.
Customer service also plays an important part in being a successful seller on E-Bay. This is because customers always know if you are the type of seller that prioritizes the needs of their customers. If the first transaction with a seller made an impact to them then the tendency of customers is to buy and purchase again. Aside from that, customers that are truly satisfied with a transaction made from a specific seller would be able to recommend the products as well as the services to other potential customers without paying anything to the customer. This is a good way to expand your horizons as a seller which could have a great impact to customers. As a seller, you should always seek feedback regarding the transaction that they made with you as well as the state of the product. This is important because customers would feel that they are very important in your line of business. It is important to have more positive feedbacks in E-Bay because most customers would rely on a seller because of their good reputation on the web.
Last but not the least, always hold honest transactions so that people would learn to trust you and in return, you would be able to maximize the benefits of E-Bay.
Benefits Of Collective Shopping
You may be wondering to yourself...Collective shopping, what the heck is that? Really, there's not too much to it. Collective shopping is simply shopping smarter, that is shopping in places that you can compare prices.
Everyone knows that if you look hard enough, you will find good deals on the things that you want. However, this can be a very time consuming and frustrating task to undertake. That's where collective shopping comes into play. Don't waste your time searching through bunch of different sites searching for one thing. Search for it all from one site. There are sites out there that bring many major shopping and auction sites into one easy to use site so that you can shop more quickly and more efficiently. I like to call these "Collective Shopping Sites." This is a great example of a collective shopping site... Number1auctions . It brings many major shopping sites together, plus a few that you may not even know about but could have the lowest prices.
Once you have found your preferred "Collective Shopping Site" bookmark it and use it every time you shop online. You will save enormous amounts of time and you'll be getting the best possible price on the items you need and want. The internet is an extremely useful tool, but that doesn't mean that it has to use up all your time! So don't just shop online, shop smart, shop collectively.
Ebay Business 101 For Newbies
Are you fairly new to eBay business? Or is just planning to enter the world of eBay business and test its waters? You have nothing to fear. Here are simple startup tips for you, newbie.
Entering the eBay business means that you are setting up shop on eBay and become a seller. It is easy and risk-free. All you need to have is a computer, an internet connection and an inventory of items to sell. No startup costs are expected of you. Even if you're at home, you can monitor your eBay business easily enough. You can also do marketing online, right within eBay.
Starting out As a newbie seller, you have a fairly good chance of succeeding in the eBay business by starting out with items that you know and have experience with. Take it from the experts, when you start with products you are knowledgeable about, you are right on target regarding its value.
However, if the items you are supposed to start with do not fall in the line of your expertise, there's no cause for worry. You only have to research about the items you have to know their value.
There might be several odds and ends in your house that are fairly in good condition but not needed anymore. Or you might know of family and friends who have possessions they want to get rid of. You can also buy discounted products, seasonal and specialized items and crafts then resell them. The eBay business has no limit on what products you could sell, as long as there are buyers interested.
Have a photo, make a sale Once you have set-up shop in the eBay business, start the ball rolling by letting customers know of your merchandise. Do this by taking pictures of the products you are putting up for sale. The photo alongside your item listing is free. A 35-cent paid photo post of your product is offered by eBay - a scheme called Gallery. It works by having a thumbnail photo of your product along with its listing on the search results.
Be aware that most customers in the eBay business prefer to see the photo of the product for sale. Most often, your listing will get hits largely because of photo attachments. People need to know they are buying something that exists. You may find that once you upload more photos for each of your product listing, the demand for your products increases. Close-up and high-quality photos of your products are likely to bring you great sales outcome.
Price 'em right Upon seeing your product, the next thing potential buyers on the eBay business look up is the price. Note that in the eBay business, it is necessary to remind you not price your item too high, or else buyers may lose interest. With a reasonable starting price, you only need to have two bidders to set off a higher price.
The principle in the eBay business, with regards to setting up the starting price, is that the lower you set the price, the more potential buyers bid on it. You can even get them so attached to the item and inspire a need to be the bidder who gets the item.
For how long do you list up your product? As a seller, listing a product in the eBay business involves meeting qualifications to use one-day period listing and paying necessary fees for 10-day listings. There are several factors to know how long you should list an item in the eBay business: - Longer period listing gives potential buyers more time to see your item and place bids - Listing depending on your selling volume. - Limited period of listing if you are selling products related to certain events
Other things which sellers in the eBay business need to do to generate more profits: - Regularly checking out the hit list for your items to know if you are getting more traffic. More traffic means more buyers. - Have a detailed product description on your listing to minimize numerous buyer inquiries - Proper handling of payment and shipping. Be aware that 3 out of 4 buyers on the eBay business prefer paying with PayPal. - Keep your buyers, happy and satisfied with your products and overall service. - Lastly, keep tabs on other eBay sellers' experiences in the eBay business for you to learn and succeed.
Top 10 Strangest Ebay Items Ever Sold
eBay can be a very odd place, given that you can sell almost anything you want. Here are the auctions we've picked as being the strangest ever.
#10 - Girlfriends: Some girls auctioned their services as 'imaginary girlfriends', who would send the winning bidder pictures of themselves and loving letters, which they could use to pretend they had a girlfriend
#9 - Wedding dress: Nothing strange about selling a wedding dress, you might think - but this was the guy's ex-wife's wedding dress. And he modelled it, as well as writing a long screed about his ex-wife in the description. It sold for
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