"Going once, going twice...", that is usually the phrase associated to the traditional practice of auctioning. This has indeed changed with the advent of the internet particularly the emergence of the ebay explosion. Ebay made auctioning a modernized one and the benefits are enormous. This is a guide on how to make money on ebay auctions.
a. Presentation counts a lot.
If you would like to make money on ebay through auctions, you should be able to devise a way to make your products more presentable to your target customers or market. In this case, presentation is everything because people are not likely to pay a high amount for something that looks like it is low in quality. Human nature dictates the habit of judging things by the way they look, thus one should exert efforts in making his or her products as enticing as possible.
b. Categorically speaking.
It is a must to position your product in the right category to make your product more visible. If it is somewhere it should really not be, chances are it will not gain the proper attention it deserves from auctions enthusiasts.
Make use of the category guide provided by ebay to help you on this matter. Also, the proper title for your item should be given major consideration since this is what buyers will be keying in if they would not want to go through the tedious task of rummaging through hundreds of categories.
c. Proper Advertisement
Advertisement is essential in any business and apparently this particularly applies to eBay auctions too. In advertising your item, its description should be given ample consideration. Too lengthy and it gets too boring. Too short and it will look not so well thought of. Being truthful with your item's description will prove to be one of the best way to do it. A picture of the item you are selling will also do great in making your product attract more traffic. Practice on producing good shots of your item to make more people appreciate the effort you put in advertising your product.
d. Starting Price Schemes
You can use various methods in pricing your item to make buyers to look at the auction.
Depending on your item, you can either price it low and wait for it to be bid up to your expected level. Ebay offers fixed pricing as an alternative. If you prefer a method wherein you will determine a certain minimum price or a reserve price you just have to be ready for the limited traffic and the extra amount you have to pay for your auction to be listed.
e. Payment Methods
If you limit your payment method to only one, say Paypal, it will lose the chance to be considered by other buyers who can afford to bid and pay using other payment methods. If you are planning to do this for a long haul, including other payment method options will help you do better in auctioning off your products.
These are only a few of the fool-proof ways to capture the attention of buyers and eventually convert them to sales. It is still important that you keep yourself updated with the other methods that other ebay sellers are employing for their auctions to do well.
For every seller who doesn't like the idea that their item might sell for a far lower price than they intend, there's another who wants to shift hundreds of the same item quickly. eBay tries to cater to all tastes. This email gives you an overview of the different kinds of auctions and their advantages for you.
Normal Auctions.
These are the bread-and-butter of eBay, the auctions everyone knows: buyers bid, others outbid them, they bid again, and the winner gets the item. Simple.
Reserve Auctions.
Reserve auctions are for sellers who don't want their items to sell for less than a certain price ? a concept you'll know about if you're familiar with real auctions. They work just like normal auctions on eBay, except that the buyer will be told if their bid does not meet the reserve price you set, and they'll need to bid again if they want the item. If no-one is willing to meet your price, then the auction is cancelled, and you keep the item.
Fixed Price (?Buy it Now?) Auctions.
Buy it Now auctions can work in one of two ways. You can add a Buy it Now button to a normal auction, meaning that buyers can choose either to bid normally or to simply pay the asking price and avoid the whole bidding process. Some sellers, though, now cut out the auction process altogether and simply list all their items at fixed price. This lets you avoid all the complications of the auction format and simply list your items for how much you want them to sell for.
Recently, eBay added a twist to fixed price auctions: the ?best offer?. This means that buyers can contact you to negotiate a price, which could be a good way to get sell some extra stock at a small discount. The only downside to reserve and fixed price auctions is that you pay a small extra fee to use these formats. In general, it is more worth using reserve auctions for higher-priced items and fixed price auctions for lower-priced ones ? but remember that you can combine the two formats.
Multiple Item (?Dutch?) Auctions.
These are auctions where you can sell more than one of a certain item. Dutch auctions can be done by bidding. Buyers bid a price and say how many items they want, and then everyone pays the lowest price that was bid by one of the winning bidders. If you have trouble getting your head around that then doesn't worries ? everyone else does too! These auctions are very rare.
What is more common is when a seller has a lot of one item, and lists it using a combination of two auction types: a multiple-item fixed price auction. This just means that you can just say how many of the item you they have, and offer them at a fixed price per unit. Buyers can enter how many they want and then just click Buy it Now to get them.
Now that you know about the different types of auctions, you should make sure that the items you plan to sell don't violate eBay's listing policies. The next email will let you know what's allowed and what is a big no-no.
Both Jason James & Praveen Kumarii are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Jason James has sinced written about articles on various topics from How to Sell on Ebay, Recreation and Sports and How to Sell on Ebay. Jason James website 'The Auction Resource Network' reveals his inside secrets and sources that help him pocket over $10,000 a month on eBay.Claim your FREE 'Top 10 eBay Selling Secrets' eBook:. Jason James's top article generates over 8100 views. to your Favourites.
Praveen Kumarii has sinced written about articles on various topics from Online Marketing, SEO Articles and Personal Desktop. Did you find this article useful? For more useful tips & hints, points to ponder and keep in mind, techniques & insights pertaining to eBay. Do please browse for more information at our website:-. Praveen Kumarii's top article generates over 90500 views. to your Favourites.