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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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Four Alternatives to eBay for Businesses

Whole Sale Designer Handbags

Many business owners investigate eBay when they are considering selling their products online. While this is a viable option for many businesses, you should consider these four alternatives to eBay before you choose an online venue for your business. Each offers services that differ from eBay that may be better suited to your business model.

iOffer.com

While iOffer.com is similar to eBay, their selling formats offer several advantages over eBay. You automatically receive a store when you upgrade to a seller account. The store and all listings are free, and you will only pay a fee when your item sells. In addition to an auction format, you can also accept offers and sell at a fixed price. Swaps and trades are another unique feature of iOffer.com that may be useful to your business.

Amazon.com

Amazon.com allows you to sell products using their online marketplace. You can create either an individual or business account, each with different features. Both accounts have the option to use the Fulfillment by Amazon program, allowing you to store and ship your products from Amazon.com fulfillment centers. Individual accounts will incur fees only when an item sells and are appropriate if you sell less than 40 items per month. Professional accounts have a monthly charge but also have lower selling fees than individual accounts. You can add your own products to Amazon.com with a professional account, but individual accounts are limited to existing products.

Etsy.com

If your business creates handmade items or sells craft supplies or vintage products, Etsy.com is a compelling alternative to eBay. Items must be hand made by you, over 20 years old or be commercial or handmade crafting supplies. You will receive a free store, and although fees are charged for listing items, the initial listing period is four months. Etsy.com has a unique culture and exceptionally loyal buyers, making this a profitable alternative to eBay.

TIAS.com

Businesses specializing in antiques, fine art and collectibles may find TIAS.com to be an excellent alternative to eBay. TIAS.com has numerous plans and options for online sellers, and they are willing to help you find the best business model for your needs. Auctions, fixed price listings, various store formats and several levels of customer support are available. TIAS.com does have a minimum fee requirement, but if your TIAS commissions are higher than the minimum fee, you pay only the commission. Other services provided by TIAS.com include submission of your auctions automatically to eBay and sending your listings to over 2000 classified ad networks.

Moving on from eBay

eBay may be big, but as the fees keep on increasing, even some established eBay businesses are beginning to consider moving on to pastures new – including their own e-commerce websites. Setting up your own website is a tricky process for first timers, you need to consider hosting, design, learn how to build a site and market it, but it is a good investment for the long term success of your business.

Start by reading about some of the major web hosts and what makes them good or bad. Here is a Go Daddy Review to get you started.

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Why eBay Fees are a Good Thing

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If you have ever tried to make any money on eBay there is a reasonable chance that you have found eBay’s fee structure to be a little off putting.

Many people complain when eBay put their prices up… Which is fair enough really. But in many ways, this could be a good thing. Here’s why, and how you can use these changes to improve your own business.

1: It has to be hard

First of all, if it is easy to make money in a business then everyone will do it. Why not look at it this way though; if you can make sure your business is so good that it remains profitable when others don’t, pretty soon you will have a lot less competition to deal with. A tougher market forces out weak competitors and makes the market better for everyone else.

2: It forces you to be better

Similar to the point above, but basically, if nothing ever changed, chances are your business wouldn’t either. New competitors are arriving all the time and the day you get lazy is the day your business starts to fail. But with constant pressure from eBay the smart businesses will innovate and adapt in order to stay ahead of the curve. Innovation is the currency of modern business and the lifeblood that will propel your business onwards and upwards.

3: It cleans up the market

If there were no eBay fees it would be possible to sell pretty much anything at a profit. In the short term this would be great, but it would massively increase the amount of spammy listings and eventually start to put off buyers. Without shoppers eBay is worth nothing, so anything that benefits the buyer benefits your business.

4: You can’t change it anyway

The final message I wanted to put across in this post is that ultimately you can’t change the fees anyway. If you have a business on eBay which has been effected by a new fee structure, your challenge now is to rethink what you are doing and find news ways to make yourself more profitable. This is all part of the challenge of business, enjoy it!

About the author:

This article was brought to you by Alex from CurrencyConverter.co.uk Thanks for reading!

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Writing Great Auction Descriptions

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Writing Great Auction Descriptions

Creating a listing on eBay is only the first step of selling products. If you want a good number of people to bid on your auction, they must be comfortable with the item description and understand the product or service you are offering. A great item description is essential. Be honest and appealing so buyers will compete for what you have to sell.

Title Basics

Important description pieces include the title and the body to start. Both should be cohesive so the bidders understand the item you have up for auction. They should have a good picture in their minds of the item before reaching the photos you have provided.

Beginning with the title, writing visual and specific is the best way to create the title. What draws your attention when you look at eBay auctions? Use some of those same phrases and ideals.

For instance, “Red dining room dinette.” Doesn’t tell the bidder much about the item you have for sale. But adding details with “Authentic 1956”, “Oak”, and “Farmhouse” gives a more visual description. Adding the condition to the title can also be helpful.

Test Good Descriptions

Detail the features of your item using attention-grabbing phrases in your description. Make sure to cover every detail that someone buying the item would like to know. Answer every question before it is asked.

If you’re selling a printer on eBay, you should include the manufacturer, the make, does it print in color, how many prints can it produce in a minute, the age, does it have a USB connection, how about a scanner, and can it make copies? All these details will want to be known by the person purchasing the printer.

The more information you give in the description, the better. Your desire is to have every bidder fully consider your product before returning to the search results. Take time with your description and test a number of different descriptions when you are selling the same item multiple times. One description may produce better results than all the others.

 

 

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How to Become an EBay Auction Seller

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How to Become an EBay Auction Seller

If you were to check out the information on the most reliable ways to make money online; you would quickly be led right back to EBay every time. Many people think they have to stock a large inventory in order to become a power seller. The truth is that you have to have the right information that will help you get started and a home computer! That’s it! No large investment, no pyramid scam and no large inventory. All the secrets are revealed through guides like the eBay Sellers Lounge or the eAuction Expert. The latter offers a free trial and helps you to set up your own customizable website and markets your services to millions of potential sellers who want to sell through your services.

Ebay Singapore HQ

Ebay Singapore HQ (Photo credit: Wikipedia)

The Next Wave of Online Employment is Upon Us!

The recession has made everyone want to get the best deal possible and lots of people turn to eBay for all their needs. There is an honest and easy way for you to become part of that and all you have to do is become an eBay auctioneer. Whether you want to market your own products or those of others; you can makes thousands (or more) dollars a month depending on how aggressive you plan to be. Setting up an online shop is easy and lucrative! It is proven that you can earn hourly incomes and by marketing your services with eBay selling kits can increase profits tenfold. Luckily, EBay does not participate in scams and works very hard to maintain integrity! This is exactly why in this recession; you can trust working for an organization as impeccably organized as eBay. The best part is that you really are working for yourself, through eBay!

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