Ebay Auction Tips

Buying things in an auction is the most affordable way to obtain the item a person wishes to have. That is why even the Internet had provided such sites like eBay in order to provide more affordable items than what the typical market has to offer.

Best of all, net auctions sites like eBay can provide a number of potential profits for the small time entrepreneurs who want to, in some or way or another, earn extra income.

Through eBay, sellers do not have to build a site just to sell. In fact, there’s no investment capital needed in order to start the business.

There just simple things a seller has to do in order to come up with a good sale. Here are some things the seller has to know before putting up a sale:

1. The Market Value

It’s a must for every seller to do some homework first regarding the price of the item in the market. This is to enable the seller to come up with a price that is reasonable enough to compensate the purchasing power of the buyer and the much-needed profit of the seller as well.

The seller may also look for the other sites that offer the same item so as to give him or her an insight on how he or she should stipulate the price.

2. The item description.

It is important for a seller to come up with a detailed description of the item. That is, the seller should be honest enough to put everything that depicts the items actual state and appearance. It should be based more on information and not just propaganda.

3. The photograph.

Pictures are enough to sell the item. But it takes skill to get the right angle and the perfect aura of the item so as to illustrate the best point of view. If the item is clear enough for the buyer to see its specifications, chances are, the buyer will purchase it.

4. The seller’s requirements.

It is an essential thing for the seller to state his or her payment requirements. It’s best for the sellers to include everything especially the additional charges that will apply like shipping fees.

5. The customer service.

In order for the seller to close a sale, he or she must be well adept on customer service. That is, the seller should know that it is important to reply on a buyer’s inquiry, to answer whenever there is confusion, and to do some follow-ups even if the transaction is finished.

How To Tips On Buying On Ebay

Buying things on eBay can be a great alternative for out-door shopping. Shopping on eBay gives the buyers a convenient way of looking for the right stuffs or things that they need. However, it is a must for every eBay shopper to take note of these important reminders before buying on eBay so as to avoid scams and fraudulent activities.

Here are some tips for the buyers:

1. It is important to know the item first.

The eBay management strongly suggests that a buyer should first read and understand carefully the item listing before proceeding to bidding. He or she must grasp the seller’s shipping requirements and the fees that are attached to it.

2. Buyer should be aware of the return and refund policy of eBay.

Buyers should know this first before bidding so that there wouldn’t be any problems when wishing to do a refund.

3. The buyer should check first the seller’s feedbacks before bidding.

Checking on the seller’s feedbacks will give the buyer an impression if the transaction is trustworthy or not.

4. The buyer should choose a secured payment method.

The only secured way to get through a transaction on eBay is to make sure that the mode of payment required by the seller is protected. This should be clear on the buyer so as to avoid imminent danger of fraud or scam.

5. The buyer should use the “ask a seller questions” section.

It doesn’t hurt to ask. It is best for a buyer to use this section first before bidding on an item. After all, it really pays a buyer to ask and clarify things first before proceeding to the bidding activity.

6. The buyer should know, by all means, the seller’s contact details before sending the payment. This is one way of protecting one’s money.

7. The buyer should take extra precautions on most of the international item listings because this is where most fraudulent activities happen.

8. The buyer should avoid any transaction that involves wire transfers as mode of payment. The eBay management does not approve it and will offer no protection in the event it is a fraud.

9. The buyer should make a documentation of all the transactions and the items purchased on eBay. This will be very handy in case there is a discrepancy in the future.

10. The buyer should be aware and get rid of spontaneous offers and counterfeit escrow services. The eBay management only allows protection for transactions made with eBay-approved escrow services.

How Much Is It Worth? Estimating Your Item’s Value For Sale On Ebay

Proper pricing of items to be listed for sale on eBay is one of the most important aspects of generating interest in one’s auction listing.

If the price is too high, interest will be low, and the possibility of a sale decreases.

If the price is too low, the seller generates enormous traffic, yet the final bid might be too low to satisfy the seller’s need for a profit.

The following are steps that will aid in that process.

Step 1: How Much Was this Item Originally Worth

First of all, one must find out how much the item was when it was bought. This helps the seller set realistic goals as to how much he will expect to profit from that item.

The seller must remember that the going price for that item nowadays will be different from its original price. And depending on the demand for that item, he may get a price that is better, or worse than the original price.

The seller must also come to an acceptance of the fact that the buying power of today’s $1 is different from that of ten years ago.

Step 2: Do a Little Research

Sellers should research on the current price of similar items. This gives them a good standard as to how much they should price their wares. Searching eBay for successful auctions of similar wares is the best way to do this.

Step 2: How Much Has the Item Depreciated?

The seller must check the item for damages and other irregularities from a mint conditioned item of the same kind. He must then deduct a reasonable amount from his asking price. Wear and tear tends to bring down the price of an item considerably. It is wise to make sure the items are repaired, or spruced up before being auctioned.

Step 3: Start It a Little Lower than Usual

It is wise to start an auction a step or two (or even three) lower than a sellers intended price. This generates interest in the item. It may be hard to believe, but auctions that start lower than its intended price actually have a better chance at overshooting that intended price.

Professional opinions are available if the seller is in doubt of the value of his or her item. Third party appraisal companies help in this regard. A list of such is available at the Authentication & Grading link under Protection and Authentication on eBay.