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You don't have to auction your items on eBay. You can offer them for sale at a Fixed Price by using the "Buy It Now" facility. You can either list your items with just a Buy It Now price and no auction, or you can list them as an auction with a Buy It Now price as well.
To use Buy It Now you must have a minimum feedback rating of 10 (or 5 if you have a Paypal account and accept Paypal as a method of payment) and a confirmed Direct Debit on file for the payment of eBay fees (which can take up to 14 days to set up).
One of the reasons that people buy on eBay is because they want a bargain. Adding a Buy It Now price that is higher than you expect your eBay auction to end at can be a useful psychological tactic. As long as you don't set it ridiculously high, buyers might perceive your Buy It Now price as what you believe your product to be worth. So if the bidding is BELOW the Buy It Now price, they will perceive that they are getting a bargain.
Another reason that people buy on eBay is for convenience. Some people won't want to wait until the end of your eBay auction and will use the Buy It Now facility to get your product quicker - even if it means paying more than they might have to in order to win the auction. The problem is, if you set the Buy It Now price too low, and your auction is popular and getting lots of bids, the final selling price might have been higher than the Buy It Now price. So you will lose out if you include Buy It Now.
If you just use Buy It Now, with no auction, potential buyers might not think they are getting a bargain. So you should mention the full retail price of your item in your listing (if it is higher than your Buy It Now price) so that potential buyers know that they are still getting a bargain.
Buy It Now can be very useful if you are selling low cost items such as ebooks that you are using as a front-end product just to build a list of customers interested in your niche. Most people will be willing to pay 99 cents for an information product on a subject they are interested in. Once you have added them to your list you have an opportunity to make your profit by selling them more expensive back-end items.
Using Buy It Now increases your listing fees.
About the author:
Martyn Boaden is the Founder of The Online Auction Resource Centre where you will find more information and all the resources you'll ever need to set up and run your successful and profitable eBay business. And for a limited time only you can get instant access to his popular eBay Business Box (worth $164 + $17 pm) for FREE by clicking this link: http://www.TheOnlineAuctionResourceCentre.com |
