Tips on How to Profit from eBay Buy It Now Auction Listings
eBay is an online auction site so it stands to reason that most users will tend to auction off their items aiming to get a high price. The problem with auctioning items is that eBay can be a very fickle place, one week an item may sell for hundreds of pounds but the next week the same item may sell for pennies. Your success rate on eBay is affected by the number of people who are willing, and able, to bid large amounts on your items. If the buyers can't, for some reason, bid high amounts on one particular auction, you run the risk of losing money. There is no way of telling when an item will sell for a high amount. If there was, there would be many more very successful eBayers out there. One way you can almost guarantee you will sell an item for a good price is to use a Buy It Now (BIN) listing. In order to use BINs successfully, you have to get the price right. Too high and it will not sell. Too low and it will be bought almost immediately, probably by a competitor who will relist it to try and profit from your mistake. So, how can you use a BIN listing to profit? If you've got a good idea how much the item is worth, list it for that price as a BIN. If you don't know how much it is worth, try searching for it in the Completed Listings searches. In my case, I was quite successful selling DVDs with BIN listings. I simply searched for the DVD I was selling in the completed listings section, sorted by Highest Price and then listed my item at the highest price I could find which had sold. At times, I also added a little more to the price. Why? Because the great benefit of BIN listings is that impatient buyers can get them almost immediately without having to wait for an auction to end and without running the risk of losing out to another bidder. If you cannot find the item in the completed listings section or it is very rare and you are unsure of the value, list the item with a very high (almost ridiculous) price. Any potential buyers will find the item, provided you have listed it correctly. Let the listing run for the full 10 days; it is a very good idea to always use 10 day BIN listings as you pay the same price as a 1, 3, 5 or 7 day listing and get more coverage. If the item doesn't sell, don't be tempted to drop the price or auction it off. Too many people do this and lose money. Remember, patience is a virtue. Instead, list it again but this time add more text to the description telling viewers that you are open to offers. You may well find that someone will contact you through the "Ask Seller a Question" link offering you a quick payment if you are prepared to sell for £x. If the offer is not good enough, reply to the sender and politely refuse but suggest a price you would be willing to sell for. On the other hand, if you are holding out for the maximum you have already specified, tell them why and justify your answer. You may well find that they relent. At the end of the day, if you do have a high value item then it will cost you a maximum of £2 per listing. Each time you place it on eBay you are attracting more potential buyers. This means that you can have your item available to billions of potential bidders for 100 days for a reasonable £20. And, when a buyer finally comes and offers the correct asking price, you will not have lost much whatsoever if it is a high value item. One point to remember; if you give up and auction the item off or sell at a lower price, you may well find you sell it to someone who will actually do the above and profit from your mistake. Ben Catt is an active eBay buyer and seller and runs an eBay Tips and Tricks website found at http://www.BenCatt.com.
He also runs a business opportunity information site - http://www.BizOppsUK.com
Related News
Auction scene brighter - NEWS.com.au
Auction scene brighterNEWS.com.au, Australia -6 hours agoBuyers yesterday seemed content to negotiate afterwards rather than bid at auction. Auctioneer Andrew Chisholm, of Buxton Real Estate agency's Bentleigh ... |
Pakistani puts kidney up for online auction - Times of India
Pakistani puts kidney up for online auctionTimes of India, India -1 hour agoISLAMABAD: Bizarre as it sounds, a Pakistani has put his kidney up for sale at a leading auction website of the country. In recent years, Pakistan has ... |
SUSAN TOMPOR Auction-rate securities probed - Detroit Free Press
SUSAN TOMPOR Auction-rate securities probedDetroit Free Press, United States -12 hours agoBrokerages and other financial firms nationwide sold auction-rate securities to well-to-do investors, small companies and others as a higher-rate ... |
India begins process to auction 3G airwaves - Sify
Slice of Diana wedding cake sells for ￡1200 at UK auction 黛妃 ... - Taipei Times
Pollution auction set for Maryland - Carroll County Times (subscription)
Pollution auction set for MarylandCarroll County Times (subscription), MD -3 hours ago25 auction, the first of its kind in the nation, is part of the Regional Greenhouse Gas Initiative, an agreement among the 10 states to reduce greenhouse ... |
Auction-Rate Bailouts Bypass Some Investors - Wall Street Journal
DoT starts 3G auction process; pre-bid conference tomorrow - Press Trust of India
Chef John Ash helps kick off Wine Auction Weekend this month - Lake County News
Yahoo Japan auction users allege ID theft - United Press International
Yahoo Japan auction users allege ID theftUnited Press International -3 hours agos auction site say they have been victims of identity theft. About 3000 cases have been discovered among users of site, with their IDs unknowingly being ... |
|
|
 |
|
|
RELATED ARTICLES
Making Money on eBay is Really Easy
If I can do it you can.
Making Your Auction Business Stand Out From The Crowd
When my sons were growing up they started playing hockey when they were 6 years old. Each of them, in their first year, scored more goals than the rest of their team combined. How did they do this?
Tips on How to Profit from eBay Buy It Now Auction Listings
eBay is an online auction site so it stands to reason that most users will tend to auction off their items aiming to get a high price.
How To Sell Santa?s Slip-Ups
Shoppers spent more than $15.5 billion this Christmas on gifts on the Internet alone. Just imagine how many millions went to unwanted polka dot sweaters, electric nose hair clippers, and thigh masters. That wasted cash piled up under the Christmas tree. We've all had it happen to us. In fact, you had it happen to you this year. You unwrapped the pretty red bow and tore through the shiny paper on that present from your Uncle Mortie, and immediately, you had to put on your best poker face.
Start Selling On eBay - Getting Started On The Right Foot
You've started your own eBay business and, even though it's part time right now, you know it's going to become a huge success. You are able to see the day when you can set your own hours, set your own dress code and call your own shots. The world is your oyster and you are raring to go. Just be careful you don't fall into the one of the major work-at-home traps.
The 3 Minute Auction and Minute Auction Explained
Am I the only person who doesn't know what a 3 minute auction is? Looking for fresh content for my site, I discover that "minute auction," or even a 5, 10 and 30 minute auction is a popular item. Some auction sites may refer to a minute auction as a "Live Bid." The "minute auction" or "3 minute auction" actually comes the closest to duplicating the excitement (and anxiety) of a real auction. No, it is not the same as an Ebay minute auction.
Photos on my eBay Auctions: How Do I Add Them?
On another forum I'm involved with, someone's asked a great question: I want to
sell products on eBay, but I
want to include photographs with my items. How do I do that? What kind of camera
do I need, and what settings should I use?
Do You Pay Taxes On eBay Income?
Q: I read your last column about paying income tax on eBay sales if you are doing it as a business, but as someone who only sells on eBay occasionally I'm still confused if the IRS rules apply to me. Can you tell me more?
-- Norman L.
From Ebay Zero to Power-Selling Hero: Using Feedback Effectively
When I talk about feedback to new Ebay sellers, I usually
compare it to having one note posted on the door of a
brick-and-mortar business for every transaction. At
almost any business--no matter how bad the service--you
would have a lot of positive transactions; and thus a
lot of positive notes. As a potential shopper, you
probably wouldn't bother to read all of these positive
notes. Instead, you'd look to see if there were any
negatives.
Start Your Own Business: Sell Things on eBay
The popularity of online auction site eBay has been
legendary. With millions of transactions completed daily,
it is no surprise why many individuals who do not usually
shop online regularly purchase items through eBay. From
antique washboards to brand new wedding gowns, everything
under the sun can be found within the many categories in
one of the web's most popular websites. Many entrepreneurs
have used the website's popularity to their advantage and
sell things on ebay. With little start-up costs, using eBay
as your marketplace instead of a traditional storefront,
selling items on eBay is an excellent means for any
entrepreneur to develop a successful business.
How To Compete With Amazon.com
If you are selling online,here is the down side of our business....you will never be able to compete with Amazon. (Or Kmart, or Target, or any other big outlet) Here is why, They buy directly from the manufacturer in such huge quantities that they are getting the product for a price that you and I (as small business owners) will never realize. That is an unfortunate fact of business.
Effective Online Car Sales on Ebay Motors
Remember back when selling online was a new experience? Dealers tried everything to sell their vehicles online. Today's market has expanded to include several hot online marketplaces. The largest online marketplace is Ebay. Ebay has evolved into an online solution for everything from whole towns to your favorite paperback book. Big or small it doesn't matter, Ebay has everything for the savvy consumer.
Online Auction Sellers - Seize Control Of Your Business!
As the online auction model of business continues to evolve toward a more commoditized, corporate marketplace, it is time for online auction sellers to seize control of their business, before it's too late.
How Drop Shipping Works
One of the most frequently asked questions on the Net is: "What should I sell online?"
Get More for Your Money Shopping for Designer Shoes on eBay
The worlds online market place.
City Police Auctions of Personal Property and Autos
About City Police Departments Auctions
Snipe Your Way to Auction Success
Bidding for a bargain is all part of the exciting eBay experience. But what can really disappoint is when you're all set to win that fantastic, gold plated gizmo and someone else just beats your bid in the very last minute.
5 Reasons Why Playing Music On Your Auctions Is A Bummer Of An Idea
There are 147 million registered users on eBay, and tens of millions of those are desperately fighting to make sales on eBay. When trying to make their auction listings as powerful as possible, many sellers use ill-advised tactics. They think that if they entertain buyers, they are more likely to get a sale. And as the Internet becomes more multi-media, there are many temptations thrown in our way, especially the use of sound.
Before You Sell On Ebay, Take The Most Important Step
If you want to earn a full-time income selling on Ebay,
you must take the first and most important step in all
successful business ventures: you must accept that it
is possible.
How to Sell Your Crafts on eBay
Artists, craftspeople and photographers are successfully selling their wares everyday on the online auction site, eBay. According to a recent analysis of eBay sales, a crafts-related item is sold every nine seconds, a scrapbook item is sold every minute, and 40 cross-stitch items sell in an hour on eBay. Sales of craft items on eBay have grown almost 60 percent in the past year, according to TheBidFloor.com.
|
