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By Danny Wirken
eBay – the World’s Online Marketplace – is the place to go
when
you want to buy or sell anything on the Internet. eBay lets
its
members sell items on the Internet via Auctions, which entails
bidding, and through the Fixed Price Format, which means that
there is a set price for items on sale. eBay Auction is the
more popular selling method between the two.
Selling on eBay
When selling on eBay, whether it is through eBay auction or
the
fixed price format, a person has to first register to be a
member and then create a seller’s account. Credit card details
or being ID Verified is needed to create a seller account. The
next requirement is a picture of the item to be sold. This is
required since most buyers want to see what the item actually
looks like before buying anything.
The next thing to do is to get your item listed by clicking on
the Sell Your Item button. After clicking on the button, be
sure to give all the necessary information such as the item
category, the title, item description, and the price, payment
method, shipping costs, return policy, and payment methods.
For
your item to have a greater chance of being viewed by more
prospective buyers you can list the item under more than one
relevant category. Another effective strategy would be to have
a very specific title that would most probably typed by
prospective buyers as their search string.
To keep track of all your listings simply go to My eBay since
it keeps track of all the items you’ve sold and are currently
selling along with all the bids made on them as well as all
the
items you have bid on and are currently bidding on. My eBay
also
has a summary page, a favorites page, and your accounts page.
As
soon as the item is sold eBay will notify both the buyer and
seller through email. Make sure that you communicate well with
your buyer and notify the buyer that the item is being shipped
as soon as you receive the payment.
In case you plan to sell your item through eBay Auction there
are three prices you need to set before putting up the item n
sale. First is the Starting Price. The Starting Price is
simply
the price you want the bidding to start. It is also usually
the
lowest price you feel that you can accept as payment for your
item. Next is the Reserve Price. In case your starting price
is
lower than the amount you are willing to accept as payment you
need to set the Reserve Price. Having a reserve price means
that if the bidding ends with the highest bid still lower than
the reserve price then your item will remain unsold. This
price
is concealed from buyers.
Last is the Buy It Now Price. The Buy It Now Price is the
amount a buyer has to pay to get the item you are selling
without having to bid. Both the Reserve Price and Buy It Now
Price are optional. The reserve price can be advantageous
since
it will protect you from having to sell your item at too low a
price but can also be disadvantageous since it may discourage
buyers from bidding. The Buy It Now Price, on the other hand,
is advantageous for buyers who really want to buy the item you
are selling since there is no risk that they will be outbid if
they automatically buy the item. It is also advantageous for
you as the seller since it can hasten the transaction since
you
don’t have to wait for the bidding period to end. However, it
can also be disadvantageous if there is much demand for the
item you are selling since having a Buy It Now price will
limit
the amount bid even if some buyers might actually be willing
to
bid beyond that set price.
eBay charges the following fees to seller. The Insertion Fee,
Additional Option Fees, and Final Value Fee. The Insertion Fee
is a non-refundable fee charged for each item listed on eBay
Auction. Insertion Fee ranges from $0.30 to $4.80. Additional
Option fees are charged if you opt for additional features
like
the Buy It Now and if you want your item to be a Featured
Item.
The Final Value fee is charged depending on the closing price
your item manages to garner after a successful close at eBay
Auction.
Bidding on eBay Auction
To bid on an item in eBay Auction, click on the item you wish
to buy to get to the item page. You can then place a bid by
simply clicking on the Place Bid Button found on the right
side
of the picture. In case there is no such button it means that
the item can only be bought at the set price and isn’t up for
auction. When you place a bid the only price you will see is
the starting price since the amount bid by other people will
not be visible to you. Enter the maximum amount you will be
willing to pay for the item you wish to purchase the click on
the Place Bid Button. eBay Auction will automatically compare
your bid with others and won’t bid the maximum amount you
entered. Instead it will bid only what is needed to outbid the
last bid. eBay Auction will do this automatically until it
reaches the maximum amount you entered or you win the bid. In
case another buyer outbids you eBay Auction will send you a
notification so that you can enter a larger amount or at least
know that you’ve been outbid.
In case you are bidding on a Reserve Price Auction check
whether the current price bid has met the reserve price. If
your maximum amount has been reached but the reserve price
still hasn’t been met then you know for sure that you need to
increase your bid since the item won’t be sold until the
reserve price is met.
If you are nervous about bidding on an expensive item keep in
mind that eBay has measures to protect both sellers and buyers
from fraud. If you are simply nervous since it is your first
time try bidding on cheaper items first before going on to
more
expensive stuff. You can actually find items for less than
$1.00
on eBay auction.
About The Author:
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