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 things on eBay.
There are many people who do not like the idea that their item might sell for a much lower price than they intend. Equally, there are people who have hundreds of the same item and do not want to sell them individually. This email gives you an overview of the different kinds of auctions and how to spot them.
Normal Auctions.
These are the bread-and-butter of eBay, the auctions everyone knows. You bid, others outbid you, you outbid them, 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 will know about if you are familiar with real auctions. They work just like normal auctions on eBay, except that you will be told if your bid has not met the reserve price set by the seller. If no one is willing to meet this price, then the auction is cancelled, and the seller keeps the item.
You can spot these auctions by looking out for ‘Reserve not met’ or ‘Reserve met’ written next to the current bid on an item’s description page.
Fixed Price (’Buy it Now’) Auctions.
‘Buy it Now’ auctions can work in one of two ways. A seller might add a Buy it Now button to a normal auction, meaning that you can choose either to bid normally or to simply pay the asking price and avoid the whole bidding process. Some sellers, though, now cut out the auction process altogether and simply list all their items at fixed price. Recently, eBay added a twist to fixed price auctions. They introduced the ‘best offer’. This implies that you can negotiate a price to someone who offers their items using ‘Buy it Now’, which could be a great way to get a bargain on things that don’t seem to be selling.
Fixed price auctions are easy to spot, as they have a little ‘Buy it Now’ logo either next to or instead of the current number of bids on the search listings page.
Multiple Item (’Dutch’) Auctions.
These are auctions where a seller is selling more than one of a certain item. Dutch auctions can be done by 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 is having the same problem! These auctions are 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. A multiple-item fixed price auction. This just means that they say how many they have, and offer them at a fixed price. You can enter how many you want and then just click ‘Buy it Now’ to get them.
After all this, you might find yourself facing a dilemma. When you have the option, should you bid, or should you just use ‘Buy it Now’ and save yourself the hassle?
This is what the next posting will be about.
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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 a successful eBay Seller, you will need it!
Take Action – Click Here to Download “eBay Fortune , The Definitive Roadmap To Auction Riches”
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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.
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Stay tuned,
Christer
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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.
* * * * *
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”
♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦
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
Selling expensive items on eBay is really not different from selling low cost items. Essentially, regardless what you are selling, it all comes down to how you market the item. This does not mean you have to surf around the Internet placing ads everywhere. When it comes to eBay auctions, the marketing is all done at the eBay website. When you set up your auction, you are beasically setting up an automated marketing campaign.
First, you must determine the value of your item(s) in three different ways. This will help you determine what your reserve price is. On eBay, the reserve price is the lowest price that you are willing to accept for your item.
First, have your high priced item evaluated to determine what the actual market value is. Next, research similar items from past auctions at eBay to see what price those items were sold for. Finally, determine what the value of the item is to you. With this information, you should be able to determine the lowest amount you are willing to sell the item for.
Set your reserve price, and then set your opening bid price lower than $50, regardless how high your reserve price is. This is marketing tactic. It will be hard to attract potential buyers to an auction for an item selling for hundreds or thousands of dollars. However, brining them to an auction where the opening bid is only $50 is quite simple. Remember, you donot have to sell the item to anyone who bids less than your reserve price, unless you choose to do so at the close of the auction. This method of price setting resembles marketing gimmicks often used by offline businesses that are simply designed to ‘get customers in the door.’
Work hard on the description for your listing. Use words that really describe your item(s) well. Provide as many details as possible, including details that prove the authenticity of collectible items. Include pictures of the item(s) as well. Please, do not try to deceive potential buyers! If the item has marks or scratches, simply be honest about it, and make sure that the pictures convey this as well. State how the item will be packed and shipped. Also let potential buyers know that shipping insurance must be purchased as well – in case the item(s) gets damaged once it leaves your possession.
For higher priced items, most eBay buyers feel more comfortable using an escrow service. Offer this as an option in your auction, with the understanding that the buyer must pay for the service. This protects both parties from fraud, and it makes many buyers more open spending the money in order to obtain the item.
eBay has partnered with an escrow service that is commonly used for high ticket items.
* * * * *
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”
* * * * *
For additional information on said subject, please read the post
eBay – Useful Tips on Making, Not Losing Money on eBay
Also browse the ‘eBay’ category for additional eBay postings
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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
Are you an eBay seller? If you are, your goal is likely to make as much money as you can by selling products that you no longer need or want on eBay.
Unfortunately, there are now thousands, if not millions, of individuals who are interested in doing the same thing. For you, this often means a never ending increase in competition. However, even with competition, you should still be able to make a profit when using eBay, but you may need a little bit of help. That help could come from marketing strategies.
When many of us think of internet marketing, we often automatically think of online retail stores or online websites. Although you are not running your own online retail store, you are de facto trying to make a profit online. Therefore, you are literally, in a way, like a retailer. Just having your for sale items listed on eBay is enough to get your eBay items exposure, but you may want to think about taking it a step further.
There are a number of different ways that you can proceed when it comes to marketing your for sale eBay items, without having to spend a dime.
One of the best ways to go about marketing your eBay items is by joining the eBay community, otherwise known as the online message boards. When you talk with other eBay community members your screen name used is also your eBay name. In the eBay community forum, every time that you start a new message or respond to an existing one your name is left, with a link to your main eBay webpage. That is the age that outlines all of the items that you currently have made available for sale. Many eBay community members click other members’ pages just out of curiosity, but it not uncommon for someone to find something that catches their eye as well. Simply by starting a few conversations with other eBay community members, even just occasionally, may help to beef up your eBay exposure.
Another relatively easy way that you can market your eBay auction listings to the general public is by posting on a number of message boards, besides eBay. There are a number of message boards that allow internet users, just like you, to post information on items that they have available for sale, both on and off of eBay. Providing a link, as well as short description of some of the items that you are looking to sell is a great way to increase your eBay exposure and increases your chances of making a sale. When taking this internet marketing approach, it is important that you only advertise your eBay listings in areas designated for taking such listings. On many online message boards, spamming is not permitted and it may actually get you a bad reputation if you are using a message for the wrong purpose.
Speaking of using online message boards, there are a number of online message boards or forums that allow members to have signatures. Signatures are where many people leave their name or a favourite quote of theirs, but some message boards allow members to use it as space for promoting their products or businesses as well. Before posting a link to your eBay auctions, it is recommended to examine the online message board’s policy concerning signature advertising. Should it be permitted, please take advantage of this free internet marketing possibility. You will want to post a link to your eBay sales page, but be sure to mention that eBay is where all clickers will be going.
Another relatively easy way to promote your eBay items, particularly if you have multiple items for sale, is by putting a “please checkout my other eBay auctions” message at the end of each of your eBay listings. As with all of the other above mentioned internet marketing tactics, this is easy and free use as well.
* * * * *
If you seriously thinking of earning BIG money on eBay, I would recommend a very successful product how to market eBay(R) auctions – eBay Fortune , The Definitive Roadmap To Auction Riches
Take Action – Click Here to Download “eBay Fortune , The Definitive Roadmap To Auction Riches”
♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦
Stay tuned,
Christer
BTW
Do you also remember to FOLLOW ME on Twitter?
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
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