The Silent Sales Machine Hiding On EBay
So many people are trying to build a web-site and then trying desperately to get traffic to their web-site. Why not simply go to where the traffic is? Go to sites like eBay, craigslist and youtube and tap into the GOLD MINE of traffic there! You don't even need a web-site!
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If you want to make money online by generating extra income from internet auctions like eBay you need to study every aspect of listing your item(s).
Let us look at the world of reserves, hidden reserves and buy it now.
Here is the situation - your Aunt Mabel ( if you have an aunt Mabel - no offence intended ) wants you to sell her designer Paris Hilton handbag on eBay - it's last years model and she needs the money for more botox. She will not let it go for less than $100 - what do you do ?
YOU COULD - place an opening bid of $100 when you list the item - problem solved ? - NO ! An opening bid of this size will usually frighten off most potential buyers.
Ideally you would start off with a bid of say $10, have a good photograph, a great title, a first class description and perhaps, on this occasion ( because of the value ) a couple more photographs and the bids should flow in. If it sold for $100 or more you're Aunt Mabel's favourite niece/nephew if not she might change her will again !
Another technique would be to use a 'hidden reserve'. When you are listing an item you can opt for a hidden reserve price - in the case of Aunt Mabel's bag it would be $100.
With a hidden reserve the bidders will not, of course, know what the reserve is but until it is met the line 'reserve not yet met' will appear in red next to the price. You still have the option of accepting the final bid even if it falls short of the reserve - but check with Aunt Mabel first !
There are extra costs involved with this service.
BUY IT NOW - is where you set a price that you will sell at any time during the auction. This is particularly useful when you get to what I refer to as level two in your eBay adventure. You've done all your costings and are happy to sell the same item again and again by simply re-listing as long as supplies are available. There would be nothing to stop you listing your item, once you know you have a success on your hands, every day of the week ( or more often ) so that you had a constant stream of sales.
In short, I believe you should only use a hidden reserve when you absolutely have to. Without reserve, done properly not only works but will tell you what the eBay market is prepared to pay for your item, very useful if you get to the 'buy it now' stage.
I'm sure you will have seen some of the many TV programmes featuring 'offline' auctions, well basically the same rules apply to the online ones. People cannot physically inspect your eBay items, that's why photographs, titles and descriptions are very important. Sometimes on these TV shows you will have seen the sellers insisting on a high reserve - the usual outcome ? - no sale! With a lower, or no reserve, the chances are that they would have gotten the price they were after.
More than 50% of items listed on eBay do not sell! Remember eBay is a very professional site used mainly by amateurs, so with a little care and attention you can, quite easily, earn extra income with your own online business.
About the author:
Please click through to http://www.banswithbonus.com/new to find out more about the amazing 'BANS' program and should you decide to make money online from your home by using this proven system, I will give you a copy of my book 'Ebay My Way' with my compliments as well as my free weekly newsletter.Lawrence Stainbank is the C.E.O. of Riverbank Direct Ltd |
