The speed at which eBay, which is an internet auction portal used all over the world, has grown is extremely astonishing. Most of its growth was seen in the last few years. The number of people who use eBay has increased two fold as compared to the number of users last year. The United Kingdom web site of eBay had around seven million users on its fifth birthday which aw celebrated in October.
This figure states that almost six hundred thousand people are attracted to eBay every month. EBay has web sites in many countries all over the world, but the top two with respect to the size are the American web site, which is the parent web site, and United Kingdom web site. It is not just small scale businesses and individual who sell on eBay. But in fact, even Sun Microsystems and IBM use eBay as a means of attracting people and customers to their products. This depends on the value of the item you are going to be selling. It is also known as the reserve price. The other fee which has to be paid is the final value fee. The amount of this fee depends on the price at which the product is sold on. The current rate is 5.25 percent of the selling price. This fee only has to be paid if the product is sold. This is a very cheap and easy way to market their products. EBay has also provided dedicated customer support as well as conventional banking arrangements which has made it very easy for businesses to use the eBay web sites. This was not the case when eBay initially started working, and people had to enter their personal credit card number if they wanted to trade.
The eBay site provides a lot of detailed information on how to start a business on eBay. Following are the initial steps which have to be taken to do so:
Step 1: setting up a new account
You can not carry out your business on eBay unless you can verify your bank account and your credit card number. This is done by providing the details of your bank account as well as the credit card number. There are a number of fees which have to be paid as well. The initial insertion fee ranges from around fifteen pence to two pounds. But in fact, even Sun Microsystems and IBM use eBay as a means of attracting people and customers to their products. This is a very cheap and easy way to market their products. EBay has also provided dedicated customer support as well as conventional banking arrangements which has made it very easy for businesses to use the eBay web sites. This depends on the value of the item you are going to be selling. It is also known as the reserve price. The other fee which has to be paid is the final value fee. The amount of this fee depends on the price at which the product is sold on. The current rate is 5.25 percent of the selling price. This fee only has to be paid if the product is sold.
The other steps are:
2. Preparing the selling item for sale
3. Listing the selling item for sale
4. Deciding on the way in which payment would be received
