Auction Information

Doing It eBay: An eBay Business Means Fun and Profits in a Global Marketplace


In 1995, when Pierre Omidyar introduced an online business venue that was essentially a virtual garage sale with auction pricing, no one knew a retailing revolution was about to occur. That site became known as eBay, and it's hard to find someone today who hasn't at least heard about the popular online auction company.

What's important to understand from the start is that eBay is a sales channel that you can use exclusively or in addition to selling through a retail operation, mail order catalog, independent Web site, or network of direct salespeople. You decide the type of business you want to have, what type of merchandise you're going to sell, and how you're going to operate.

To sell on eBay, you'll pay a listing fee to post your merchandise and a final value fee (a small percentage of the sale price) when the item sells. For the current eBay fee schedule, check the eBay site.

What can you sell on eBay?

Though eBay is a popular place for the sale of used items ranging from high-dollar antiques to second-hand junk, it's also a venue for brand-new, up-to-the-minute merchandise of all types and in all price ranges. Deciding what to sell on eBay can be particularly challenging because your options are virtually limitless. Some of the more popular categories of items are cars, computers, consumer electronics, books, movies, music, sports items, collectibles, clothing and accessories.

As you take the first step of deciding what to sell on eBay, keep these points in mind:

Have an interest in the product. Don't choose a product based on potential profits alone; be sure it's something you'll enjoy working with.

Cost and sale price. How much will the item cost you and how much can you reasonably expect to sell it for?

Availability. Is the merchandise readily available or will you risk having to deal with supply problems?

Storage. Do you have room to store the merchandise?

Packing and shipping. Consider what is involved in packing and shipping the merchandise. Even though the buyer typically pays the shipping costs, think about your labor, time, and potential breakage.

Seasonal issues. Will the item sell year-round or be subject to seasonal fluctuations?

How do you sell on eBay?

You have a variety of ways to sell on eBay. In addition to the traditional basic auction, where you post your item with a starting price and wait for bidders to drive the price up, you can use a number of other pricing features and auction types. In addition to auctions, you can also set up your own eBay store, which will allow you to sell auction and fixed-price merchandise from your special location on eBay. You'll pay a monthly fee based on the level of store services you want, plus additional fees for items listed and sold.

The technical side of eBay

eBay has evolved into one of the most user-friendly sites on the Internet. Getting set up as a user is a simple process that you can complete in just a few minutes. You will be required to provide your name, address, e-mail, and telephone number, as well as a credit card number and your checking account information. eBay uses this information to confirm your identity, which protects the integrity of their operation, and to collect auction fees. If your contact information changes, be sure to notify eBay immediately.

You must register to buy or sell on eBay, but you can browse around the site without registering. Before you do any business on eBay, take the time to get to know the site. Set aside several hours to get online and browse around, study listings, read the help pages, understand the various tools and how you can use them, check out the forums, and get comfortable with how the site works.

Once your business is up and running, you'll probably want to consider using supplemental auction management software, which will save time and money, make you more efficient, and improve the level of customer service you offer.

Getting started as an eBay seller

Start off by buying a few things, then start selling, posting just one or two auctions at a time until you're comfortable with how the process works. You'll make mistakes, especially in the beginning, but if you learn from them they'll be worth the cost.

Keep in mind that eBay is ever-changing. As the economy cycles, you'll experience changes in pricing and demand. And as more people start operating on eBay, the competition will increase and prices may decline slightly (great when you're buying, but not when you're selling).

If you plan to make selling on eBay a full-time business, expect to work hard. Though there is plenty of money to be made on eBay, it's not a get-rich-quick or easy deal. You'll invest as much time and energy as you would in a traditional retail operation--but your potential for profits is greater.

Don't be intimated by the sheer size of the operation, and keep in mind that eBay has reached less than ten percent of its potential market-which means there is plenty of room for you. So find your eBay niche, get online, and watch your business grow.

Jacquelyn Lynn is the co-author of Make Big Profits on eBay: Start Your Own Million $ Business (with Charlene Davis, Entrepreneur Press, 2005) and the author of Start Your Own Business on eBay, plus nine other titles in Entrepreneur's Start-Up Guide Series. For more information, visit http://www.jacquelynlynn.com


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Fortune

How A University IT Guy Looks To Outmaneuver Verizon and AT&T In Upcoming Spectrum Auctions
Fortune
Verizon and AT&T have more fearsome rivals than David Beyerle, a communications engineer in Penn State University's IT department. Nevertheless, the two telecom giants could soon have to bid against him at two major government airwave auctions.



Autoweek

We went to check out a collector car mega auction (and ended up winning a car)
Autoweek
The thing you need to understand about the modern collector car mega-auction—and it's something you might have to remind yourself of as you begin to tut-tut the list of premiums and fees that seem to accrue whether you're buying, selling or simply ...



eMarketer

First-Price Auctions Are Driving Up Ad Prices
eMarketer
Programmatic platforms are changing the way they price inventory, and their moves are driving up ad prices. Automated ad auctions used to predominantly operate on a second-price basis, which is where the second-highest bid determines the amount of ...



NBCNews.com

Marie Antoinette's jewelry available to hold before Sotheby's auctions it off
NBCNews.com
Rare jewelry once belonging to French monarch Marie Antoinette is on display at Sotheby's Auction House in New York — and they'll even let you hold the delicate pieces, which will be auctioned off next month. "This is a piece of history I never ...

and more »


Hearts & Science Calls To Replace First-Price Auction With Reformed Second-Price Model
AdExchanger
The Omnicom agency wants programmatic to create “clean” second-price auctions to remove the premium that buyers pay. It doesn't want to revert back to the previous second-price model, which suffers from problems around transparency and bid density, ...



Recharge

BOEM holds firm on timeline for next US offshore lease auctions
Recharge
Despite intense and growing developer interest in US offshore wind zones, the federal government is sticking to its leasing schedule – with a planned lease auction off Massachusetts still on track for later this year, one off New York in 2019 or 2020 ...



ECM Publishers

Meeker County Multi-Tract Land Auction
ECM Publishers
Friday, Nov. 9 • 10:00 AM. 629 +/- Acres offered in 5 Tracts. Auction Location: Steffes Group Litchfield Facility, 24400 MN Hwy 22 S, Litchfield, MN. Property Location: Greenleaf Township, approx. 9.2 miles SW of Litchfield, MN or approx. 7.5 miles NE ...



The Hutchinson News

BBQ, auctions at fundraiser event
The Hutchinson News
What can you get for $5? At Reins of Hope, $5 is enough to give a student with disabilities a therapeutic ride on a horse. The nonprofit has kept prices for the 30-minute ride at $5 since 1995. Executive Director Jane Harder said that's partly because ...



Wisconsin State Farmer

Auction calendar: October 19, 2018
Wisconsin State Farmer
Expecting 600 - 800 Head of Feeder Cattle for This Special Feeder Cattle & Bred Beef Cow Auction. Located at N13438 St. Hwy 73. Visit www.premierlivestockandauctions.com. Sale Conducted by Premier Livestock & Auctions, Withee, WI. Athens, WI.



RES Auctions in Poland Ready to Take Off
Lexology
The RES auctions are fast approaching – the first one, for existing installations, is due to start on October 17. The long-awaited RES auctions start tomorrow. This year, the President of the Energy Regulatory Office has divided the auctions into two ...


Google News

home | site map
© 2006