E Bay Auction

E Bay Auction

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.

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