SolveYourProblem
eBusiness Series:
Online
Auction Site Tips, Hints & Strategies
You Need To Know
(includes eBay® and
Yahoo®)
( 10 pages )
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:
- 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.
- Bid Shilling
– This is where the seller actually uses a separate ID set
up to inflate the number and price of the bid.
- Deadbeat
Bidder – The deadbeat bidder bids on your auction and then
simply fails to pay.
- 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 stockmystore.com 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. On eBay, check out the
Drop Ship Source Directory 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?
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