Five Simple Steps For Online Auction Success
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If you were the editor of an online auction site newsletter, you would probably get oodles of email from your most serious subscribers asking the really big question: “Please tell me, what should I be doing to make money on eBay?”
And if you didn’t get those emails, there would probably be something wrong with your newsletter. You might have surmised however that that is not what this is all about, that is, how to have a nifty newsletter that everybody wants to read. Rather, this is a paltry stab at responding to that kind of query, and I suspect the answer to this question really depends on how you define the term easy, and whether or not you actually inhaled. But before I get waylaid by a cloud of smoke, let me tell you right here and now that in my not so humble opinion, there is no easier way to make money over the Internet than by selling stuff through an online auction site like, for example, eBay, or maybe Big Ticket Depot. I mean, what could be easier than this easy-to-follow five-step process.
1. Get something to sell.
2. Take a photograph of it and then come up with a description.
3. Upload your listing on eBay.
4. Grab the cash.
5. Send the thingee.
What could be easier than this? Well maybe rocket science, but I seriously doubt it. Have you seen the rockets those rocket guys play around with these days? Those babies are complicated. But forget that for the moment. When they’re asking that question, I suspect what people are really asking is, “How can I easily get products to sell?” From my experience this is what both greenhorns and even some experienced eBayers find difficult. I don’t think selling a rocket on eBay would work out all that well. So in this little essay I just want to highlight five very simple ways that you can get products to sell without ever leaving your computer. This will be easy enough for even a complete and total idiot, which, rest assured, you most certainly are not, so no, I wasn’t just now talking about you. I was talking about my cousin Frenchie, and man, is he ever dumb.
1. Use a photograph. It is my belief that there is hardly an item listed on eBay or any of the other online auction sites that does not win out from having a picture added to the listing. In fact most items that are listed without a photograph that do sell tend to get 20% less than those with a pic. In some categories the figures are even higher. Did you know that? For instance, clothing items offered without a photograph average a 78% lower selling price than those with one. So it would seem to be pretty easy to browse an auction site looking for these photoless items, buying them and then relisting with a photograph. Money for for old rope really. Or old rope for money, if you are more into bartering and would like to just forget about bidding online altogether. But I’m getting off track.
2. Finding poorly listed items. There are many reasons why someone listing on an auction site fails to attract any worthwhile bids. Lousy title, lousy description, wrong category, bad spellingand so on. You can find these things by browsing around the auction site, but I would like to suggest a less complicated method. Select the categories that you are interested in and look for items where the bidding will finish within the next hour. Here is where you will find bargains that haven’t attracted any bids due to the reasons I have just mentioned.
3. Terrible hours. In all those eBay ebooks people try to sell on eBay, or wherever, there are always tips about finding the best time for auctions to finish. It seems the general consensus is that these finishing times are, for most items, Sunday afternoons and evenings and Wednesday evenings. Some people say that for business-related items, office hours on Monday or Tuesday are the best. If you belive that there are times when you will get increased bids for your items there must also be times when, if your auction ends, you most likely won’t be doing that well. I would think if you have an auction that finishes between around 5 am and 8 am on a Monday morning, there will not be too many people hanging about in order to place last-minute bids in an attempt to push the price up. Therefore, relist with your auction set to finish at a more society-friendly time, and you can easily earn a profit of 20% or more for very little effort.
4. Buy collections. One of the easiest ways to make money on eBay is to take advantage of the laziness of others. If an individual lists, oh let’s say a collection of 25 Barbie dolls, it is a fact that listing all 25 together will earn much less than selling those dolls being sold one by one. It’s unbelievable how many people who sell on eBay just can’t be bothered with this. In the past, I have bought such a collection and then turned around and made more money selling only one item than I paid for the entire collection itself.
5. Other online auctions (like Big Value Depot). Over 95% of all Internet auction sales are made through eBay. That is were you can find the most registered buyers and items listed for sale. It stands to reason then that items offered for sale on eBay get the top prices. So why not search around some of the smaller online auction sites? In many cases items listed there will not pull such high prices as found on eBay. Then all you have to do is buy from that site and relist the merchandise on eBay.
So there you have it, five brain-dead simple ideas to make money through online auctions for you to think about. But you will probably have to drop dead or fall into a coma first. Ha ha, just kidding. Ha.
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