Over the years, eBay has introduced all sorts of different auction types, in an effort to give people more options when they buy and sell their items on eBay.
For every seller who does not like the idea that their item might sell for a much lower price than they intend, there are others who want to shift hundreds of the same item as quickly as possible “over the counter”. eBay tries to cater for all tastes.
This posting will try to give you an overview of the different kinds of auctions and their advantages for you.
Normal Auctions.
These are the bread-and-butter of eBay, the auctions everyone knows. Buyers bid, others outbid them, they bid again, and the winner gets the item. Quite simple.
Reserve Auctions.
Reserve auctions are for sellers who do not want their items to sell for less than a certain price – a concept you must be acquainted with if you are familiar with real auctions. They work just like normal auctions on eBay, except that the buyer will be told if their bid does not meet the reserve price you set, and the buyer has to bid again if he or she really wants the item. If no one is willing to meet your price, then the auction is cancelled, and you keep (are stuck with) the item.
Fixed Price (’Buy it Now’) Auctions.
‘Buy it Now’ auctions can work in one of two ways. You can add a ‘Buy it Now’ button to a normal auction, meaning that buyers can choose either to bid normally or to simply pay the asking price and thereby avoiding the whole bidding process. Some sellers though, might now cut out the auction process altogether and simply list all their items at a fixed price. This lets you avoid all the complications (hassle) of the auction format and simply list your items for how much you want to have them sold for.
Recently, eBay added a twist to fixed price auctions: the ‘best offer’. This means that buyers can contact you to negotiate a price, which could be a good way to get to sell some extra stock at a small discount. The only downside to reserve and fixed price auctions is that you pay a small extra fee to use these formats. In general, it is more worthwhile using reserve auctions for higher-priced items and fixed price auctions for lower-priced ones – but remember that you can combine the two formats.
Multiple Item (’Dutch’) Auctions.
These are auctions where you can sell more than one piece of a certain item. Dutch auctions can be done through bidding. Buyers bid a price and say how many items they want, and then everyone pays the lowest price that was bid by one of the winning bidders. If you have trouble getting your head around that, then do not worry, everyone else has the same problem as you too! These auctions are therefore very rare.
What is more common is when a seller has a lot of one item, and lists it using a combination of two auction types, i.e. a multiple-item fixed price auction. This just means that you can just say how many of the item you then have, and offer them at a fixed price per unit. Buyers can enter how many they want and then just click ‘Buy it Now’ to get them.
Now that you know about the different types of auctions, you should make sure that the items you plan to sell do not violate eBay’s listing policies. The next posting will let you know what is allowed and what is a BIG no-no.
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If you seriously thinking of earning, not losing BIG money on eBay, I definitely recommend a very successful product how to market eBay(R) auctions
- eBay Fortune , The Definitive Roadmap To Auction Riches -
as an eBay Seller, you will need it!
Take Action – Click Here to Download “eBay Fortune , The Definitive Roadmap To Auction Riches”
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Stay tuned,
Christer
BTW
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When you are just starting up your online business, finding the right products to sell online is often the number one problem. Knowing where to look can help.
Below are a couple of suggestions, which might be of help in finding the right products
- Drop Shipper Directories: Drop shippers are wholesalers that will ship direct to your customers whuch means that you do not have to invest in or store inventory. Directories of drop shippers are for sale online, but make sure you are buying a reputable one.
- Local Businesses: You may find businesses in your backyard that offer just the right products, but are not yet into e-commerce. Offer to sell their product online in exchange for a percentage of any profits you make.
- Crafters: Local crafters are a good source of unique products, and may be willing to reduce their prices for you if you purchase in quantity. Either buy the item outright, or set up a consignment arrangement with them.
- Garage Sales and Flea Markets: Garage sales are a good place to look for items to sell online. Do some research into categories that interest you, and then start scouring sales for good prices.
- eBay: eBay itself can be a source for products. Look for wholesale lots that can be broken down for individual sale.
- Wholesaler Directories: Your local library will probably have directories of manufacturers, wholesalers, and/or distributors. Most directories are organized by SIC code so that you can zero in on the product categories that interested you.
- Trade Shows: Trade shows are a great way to source products. Lots of merchants gather in one place to look for resellers. To find trade shows in a particular industry, contact trade associations and industry publications.
- Importers/Exporters: You might want to consider contacting companies that import goods from overseas. It is possible to source directly from overseas. This requires a lot of expertise, but many companies do it successfully.
* * * * *
If you seriously thinking of earning BIG money on eBay, I definitely recommend a very successful product how to market eBay(R) auctions – eBay Fortune , The Definitive Roadmap To Auction Riches - you will need it!
Take Action – Click Here to Download “eBay Fortune , The Definitive Roadmap To Auction Riches”
* * * * *
Another viable and most recommendable option, when starting up an eBay business, is to make use of the drop shipping concept, which you can read about in the post – eBay and Drop shipping – What Is It All About?
Click here to find out more about drop shipping.
♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦
Stay tuned,
Christer
BTW
Do you also remember to FOLLOW ME on Twitter?
My new content from all my web pages is also going there
If you find the information useful, don’t hesitate to Tweet or email the post to your friends and colleagues and set up a link on your own blog!
http://twitter.com/christerfolke