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How eBay Auction Bidding Works

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We all know now that eBay is one of the most powerful (or probably THE most powerful) online selling platform there is. Recently, it has opened a new option of selling online which they dubbed as ‘fixed-price transactions’. Of course, their primarily method of selling and or buying online through auctions continue to be available. eBay auctions have continued to comprise about one half of all sales made through eBay. But what really is an eBay auction and how does it work?

An eBay auction is basically just an online form of the traditional method of doing auctions. In a traditional or actual (live) auction, a speed-talking auctioneer stands in front of the crowd, coaxing them to bid more on the price of the item being sold. Things happens real fast. Once the highest bid is placed, then the one who placed it immediately wins the item and pays for it. The same process goes with internet auctions just like eBay’s; the only difference is there is no speed-talking auctioneer to confirm bids. Instead, the bidding is automated, and it doesn’t matter when the last bid was placed – what matters is who placed the highest bid. The bidding process is all managed by a special auction software operated by eBay, and anyone from the all over the world with an internet access, and account with eBay, can bid.

In a live auction, the auction typically lasts for only a few minutes just until no one is no longer bidding. In online auctions though like eBay, the bidding period lasts up to seven days on average. In fact when you create an auction listing to sell a particular item on eBay, you can adjust the bidding period to one up to ten days. You can also set a minimum bid so you don’t have to worry about selling your item at a cheaper price than its value.

Next, a potential buyer browses and searches through eBay’s listings, and when he or she sees your item, he can bid an amount equal to your minimum bid or bid a higher amount he is willing to pay to win your item. When he bids more than the other bidders then he wins.

Just like in live auctions, you can also place additional bids as long as your next bid is more than the current highest bid and is still lower than the maximum allowed bid set by the seller. During the entire bidding period, you will be notified by email whether you have been out-bid so you can still place your additional bids (but as long as the bidding period is still open). When you’ve won the item after placing the highest bid, you again will be notified through email, and then communication, payment, and shipment ensues. The best part about these eBay auctions is that you can leave a feedback to the seller or buyer, so that bogus selling or buying is discouraged.

The author is a freelance writer who writes on behalf of SendOnlineFax. To send an online fax, click here.

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Making More Money Through eBay Auctions

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If you have or found a great product to sell and are really hoping to make lots of money online with the least effort, then consider using the number one sellers’ platform on the internet – eBay auctions.

eBay is a great way to earn some serious cash online because number one: there are a lot more sellers than there are buyers on eBay.

There are NOT a lot of people who use eBay as sellers; but at the same time there are lots of buyers searching for products on eBay.

You might want to get most of these buyers to view your product and buy from you, but how do you accomplish this?

This brings you to the second reason why selling on eBay could be very profitable for you: using a technique that not a lot of sellers on eBay really know about.

EBay Product Listing Tricks:

You number one goal in selling online is to drive the most traffic to your product listing. You can do this by following this “eBay Product Listing Trick”. Here are the steps:

  1. Select your product – Choose a product that you wish to promote or sell on eBay. It’s important to choose a product that is NOT too user specific (for instance products for women or men only) since you want to attract a wider audience. Also choose a product that is unique yet popular enough in order to minimize and beat the small competition. The key here is to find your niche and to pick a product that is hot on that niche.
  2. Target your buyers – You can target your buyers through the price of your item. Sell a product that is not so expensive yet not too cheap. The best products to sell are those that are in the price range of $20-60. The best price to sell is at the $30 mark which will make you earn as much money as possible in an easier way. The rationale here is that it is much better and easier to sell two 30-dollar products than sell five products at $10 each.
  3. Write a short yet effective review or article about the product you are selling – Before finally submitting your product listing on eBay, try to come up first with an effective description of your product. People do read product information before buying.
  4. Feature your listing – Probably the only sellers’ feature that you would really want to pay for, and get the most out of, is the Home Page Featured option. Since everyone is viewing the eBay homepage, you want to take advantage of that. After clicking Home Page Featured, your product is finally listed and congratulations! You’re on your way to succeeding in eBay auctions.

The author is a freelance writer. He writes about online fax and email fax services.

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