Buy it Now, Auction or Both?

When you list an item on Ebay, you have the choice of listing it as Buy it Now, Auction, or both. There can be advantages and disadvantages to all of these choices so lets look at what they are.

Buy it Now:

When you list an item as Buy it Now, you are ensuring to the buyer that once he clicks Buy it Now, that item is his. This is an advantage for the buyer over an auction format, because in an auction format the buyer can always be outbid. When an item is listed as Buy it Now, it is more like shopping at any other online store. Many buyers like this better.

Auction:

In the auction format, you as the seller can be at an advantage because of the potential price an item could end up selling for. If your item gets a lot of bids, you could make much more profit than you may have expected. Plus some buyers prefer the uncertainty and thrill of the chase when it comes to bidding on an item.

Both:

This is the format I use when I sell items. Here is why. I usually put the Buy it Now price higher than I think the item should sell for. I then put the auction price right around the price I expect it to sell it. These two prices are usually 10 to 20 dollars apart. I have found that I sell items through Buy it Now in about the same quantity as through auction formats. When I sell an item Buy it Now, I am happy for the extra profit, but if it sells through the auction bidding, I am just glad the item sold and I was able to make a profit.

In my opinion, doing both is the best way, but it is up to you how you will decide what format to sell on Ebay with.

Where to Find Stuff to Sell on Ebay

Interview With Marcus Wienke: A New Ebay Seller

My roommate Marcus Wienke is an interesting character and he has recently started selling on Ebay as a hobby. I thought it would be a good idea to ask him some questions about his experiences with Ebay selling.

When and why did you start selling on Ebay?

I started when I found out oodles of money was being forked out to people selling on Ebay. I already had a job, but I wanted to get some supplemental income to enjoy. This would have been in around November 2010.

Has oodles of money been forked out to you since you started selling?

Well, not yet. I like the principle of starting small, then getting huge. It reminds me of the story of the tortoise and the hare. The hare started out quickly and failed because he got tired, but the tortoise took his time to analyze his surroundings and physical capabilities. And in doing that, the real winner in the end was the tortoise. Slow and steady wins the race.

Sooo have you actually made any money?

Ok, well I have made around 800 dollars since I started. But I plan to make even more in the future.

So what is it that you like to sell on Ebay?

Well, at first I just started selling junk. To give an example, I went to Bethesda Thrift Store and bought some really cheap stuff that had almost no value whatsoever. On one item, I actually quadrupled my profit. I bought an Atari flashback gaming system for 3 dollars, and sold it for 15 dollars. Hows THAT for profit maximization. That woman, man, or animal that bought that Atari from me wasn't the sharpest tool in the shed but a man's gotta make his money.

Okay, that's pretty good. Have you sold anything besides junk?

Of course I have, silly. I have sold clothing items and shoes as well. For clothing, I have sold many Adidas products from an outlet store, and for shoes I have sold Nike products. I bought one particular pair of Nike shoes for 70 dollars that were glow and the dark. I sold these shoes to some chump on Ebay for 165 dollars. That has been my best sale ever. So far...

Well I hope you continue to find success in your Ebay selling endevours. Thanks for your time.

Developing Positive Feedback on Ebay

Developing positive feedback can be one of the most difficult aspects of selling on Ebay. It won't happen overnight, but with these simple steps any Ebay seller can receive consistent high ratings and positive feedback.

1. Consistently ship out items immediately upon payment

Negative feedback very often has to do with late shipping. Usually it is just because the seller has forgotten or is just too lazy to do it right away. Don't be lazy! I always make sure that as soon as I receive payment from the buyer I send out the package. This eliminates most of the potential for negative feedback.

    2.   If anything goes wrong, communicate with the buyer immediately

Mistakes do happen. Most buyers on Ebay will be understanding about mistakes as long as you communicate what happened and what you will do to fix the problem. Remember to apologize to the buyer for the trouble and thank the buyer for the business.

   3.   Be honest in item descriptions.

Be very careful not to make an item out to be something better than it is. you may sell the item, but you will have an unhappy customer who is not likely to leave positive feedback. Just give a clear, simple description of the item, and don't try to hype it up too much.