Make Online Auctions a Home Business

by John Lynch

Everyone is aware of online auctions nowadays. We all know someone who has bought or sold something on an Ebay online auction site. But how many people know that this hobby can be turned into a profitable business? The fact is online auctions are a new kind of home- based business created by the Internet with no capital investment and no risk. An online auctions business has the following advantages: No start-up costs. No financial risk. Work whenever you choose. Targeted customers brought to you by auction sites such as Ebay. No technical skills required. Start-up in 5 minutes. How do I start an online auctions business? First, if you are not familiar with the process of buying and selling, you need to understand how auctions operate. By far the biggest online auction site is Ebay (http://www.ebay.com), boasting millions of users worldwide. However, this is the tip of the iceberg. Other popular auction sites include: Yahoo Auctions - http://www.auctions.yahoo.com uBid - http://www.ubid.com OnSale - http://www.onsale.com QXL - http://www.qxl.com Start off by buying an item yourself to get the feel of how it is done. This will give you an overall insight into the process of registering with the auction site, bidding, paying for your goods and the delivery arrangements. Don't Feel Forced to Buy As a buyer you should not feel pressured into buying something that you know is overpriced because you think it is the last item. There are many online auctions and there is a good chance that you will come across the same item at another site. Leave Your Bid Late Experienced online buyers will leave their bids until the last few minutes before an auction closes to prevent the price being driven up too high. Use Automated Bids If you don't want to spend a lot of time waiting for an auction to close, you can use an automated bidding service such as eSnipe (http://www.esnipe.com). You can open a free account and type in the auction number and the amount you want to bid. ESnipe can then place a last-minute bid for you just before the close of the auction. If you win the bid, you pay eSnipe a small fee and if you lose you pay nothing. Search for Misspelt Items Savvy buyers know that many items listed for sale at Ebay are misspelt. You can use this to your advantage by searching for wrongly spelt items. You will have far less competition as most people search for correctly spelt items. Once you have bought something and paid for it, you will know how the auction process works from the buyer's point of view. This is vital as it will give added insight into how you can provide good customer service when you set up your own business. So now that you have bought and paid for an item on an online auction, you are ready to sell something yourself as a first step to setting up an online business. At this point, most people look around their own homes to rid themselves of some unwanted items for which they have no use. This is a good way to get started. When you list your item on auction sites, make sure you provide a photograph. This will grab the attention of the buyers. Description of Goods A good description of your 'for sale' items is essential. Give all relevant details including technical specifications and dimensions where necessary. Guaranteed Refund Give a guaranteed refund to potential buyers to reassure them of your integrity. Most buyers and sellers on the Internet are honest but there are a few rogues, and buyers like to be reassured. Positive Feedback Getting positive feedback from your previous customers is the best way to prove you are trustworthy. Always request feedback politely after a successful sale. Reserve Price Set a reserve price to ensure that your goods do not sell for less than you want. Make it reasonable. If you set it too high, you will not receive any bids. Payment Options The more payment options you offer your buyers, the more likely you will be to make a sale. Ebay auctions offer the online payment transfer system Pay Pal (www.paypal.com) which is free to set up. Credit cards also offer security and are popular. If you intend to set up an online auctions business, it is best to specialise in a niche which is a little out of the ordinary. Thereby facing less competition and guaranteeing your profitability. Setting up an online auctions business can become a reality for anyone who is prepared to do the necessary research and put in the effort. The enormous interest in auction sites created by the success of Ebay has provided huge numbers of targeted visitors ready to part with their cash for a great variety of goods. (C) John Lynch 2003 (C) John Lynch 2003 Visit http://www.merchant-account-service.com/auction_ebay.html for a Free auctions course on how to start a successful online auctions business from home.

Auction Seller Guide To Success

by Leroy Chan

================================================= Auction Seller Guide To Success -by Leroy Chan (c) Leroy Chan - All Rights reserved http://www.AuctionSellerGuide.com ================================================= When its time to clean-up around the house, some people have a hard time deciding what to keep and what to throw out. What they need is an incentive. How about collecting cash from stuff that was collecting dust? You can do this by auctioning-off your unwanted or no longer needed items on eBay. eBay is the largest online market place of its kind. If you are considering this, then you need to gain some basic knowledge of the listing process. Here is a 10-item checklist to go over before you begin selling: 1. Look at Other Seller Listings Do a search for your item. See how other sellers list the same or similar item. Take mental note of the category, the title, the description, the photo and the pricing. 2. Choose the Most Appropriate Category Make sure your item is in the most appropriate category. Avoid placing it in a category where it doesn't belong. List your item in the wrong category, and people looking for your item will not find it. Let eBay suggest the category for you, if you are unsure which category your item belongs. 3. Write an Accurate Title for Your Listing Make it easy for buyers to find your item in a search by writing a precise title of it. Be as exact and detailed as possible so your item can show up in broad keyword searches too. Avoid using hype words like "Best," "Great," or "Fantastic." Putting these words in the title will not help buyers find your item because they don't type in these types of words in their searches. 4. Set Your Price Low Entice your buyers by starting at a low price. Set a reserve price in your listings so you don't have to sell it when the auction ends at too low of a price for you to make a profit. 5. Give Plenty of Time for Your Auction Let as many people as possible see your auction. Set the duration for five or seven days so weekend buyers will have a chance to bid on your item too. 6. Show a Photo of Your Item Take a digital photo of your item and post it with your listing. Let your buyers see what they are bidding on. Allow the photo to help you sell it. Having to see something first before you buy it is only natural. Apply this same principle to online auctions. Buying a digital camera is a good investment these days and instructions on loading pictures up to the eBay site are simple enough that there really is no excuse not to have a picture. 7. Give Buyers Plenty of Payment Options Make it easy for the buyer to pay. Providing as many payment options as available is better. Place in your item listing your own merchant account or credit card processor information. Sign up with Paypal if you don't have your own merchant account. Let buyers pay by check or money order if you don't provide payment through Paypal or credit cards. Including all payment options leaves no buyers behind. 8. Be Clear on Shipping and Handling Information Avoid troubles or negative seller feedback by stating upfront your shipping costs. Mention this clearly in your listing. Include your return policy. 9. Give Contact Information Gain the buyer's trust by freely stating your contact information. List your email, phone number or mailing address. 10. Keep on Testing Review the auctions that have ended. Learn from the wins and losses. Try changing the category, title, description or price if it didn't sell. Testing the individual elements in the auction process is critical to your goal of becoming a successful auction seller. About the Author Leroy Chan owns and operates the site "Auction Seller Guide": the place where experts reveal their secrets about auction selling, wholesale product sources, tools and more. Click Here Now ==> http://www.AuctionSellerGuide.com

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