| Over the last several years, rising numbers of people | | | | based strictly on your photo is risky. I advise an explicit, |
| have bought and sold goods at online auction sites | | | | written statement that headphones are not included. |
| such as eBay. Naturally, many folks who joined internet | | | | An ounce of prevention is worth a pound of cure to |
| auctions soon realized the income potential available to | | | | make money online. |
| those who could sell successfully. These have included | | | | Policies of online auction sites and their payment |
| stay-at-home parents looking for some extra income | | | | providers can change over time and you need to be |
| and entrepreneurs at heart who wanted to start their | | | | aware of what their pricing or other policies are before |
| own full time business. Online auction sites are | | | | jumping into selling in online auctions. As an example, |
| attractive to new entrepreneurs because they're a | | | | occasional Paypal holds on payments have recently |
| target rich environment: people cruising internet auction | | | | caused confusion for some new eBay sellers. Sellers |
| sites tend to be people wanting to buy something as | | | | have at times reported holds of up to 21 days on |
| opposed to people just looking for information. | | | | payments from PayPal. Of course, a seller is still |
| In order to start a business selling through internet | | | | required to ship items to buyers after Paypal has |
| auctions, you first have to decide what market to | | | | received cleared payment. This means a seller may |
| target and figure out how to obtain a solid product you | | | | be compelled to ship items before receiving payment, |
| can sell for profit at a reasonable retail price. Next, you | | | | even funds to cover the shipping charges. Some folks |
| have to figure out how to sell it. Here, I address the last | | | | have listed items for sale without recognizing this |
| issue, which is the easiest: how to sell online using | | | | possibility and have then gotten frustrated when |
| auction sites. If you follow these two basic tips then | | | | confronted with an unexpected delay getting paid. |
| you should succeed in launching your business, | | | | Online auctions generally do not require sellers to |
| provided that you have a suitable product to offer that | | | | accept PayPal, but it really is the easiest service to |
| you know has some consumer demand. The two are: | | | | use when starting a business with online auction sites. If |
| 1. Provide accurate and attractive product descriptions | | | | you want to avoid PayPal, internet merchant accounts |
| 2. Understand the policies of your auction site and | | | | can always be used instead. Other options may also |
| payment provider, e.g., PayPal | | | | be available depending on the terms of your auction |
| Everyone knows by now that a photo is a must-have. | | | | site-just beware of checks from buyers claiming to be |
| The text descriptions are equally important, but sellers | | | | from Nigeria! |
| sometimes skimp on this part. There is no point in | | | | Another area of frustration for sellers is not unique to |
| endlessly fretting about "What should I sell online?" only | | | | online auction sites: returns! Some folks don't want to |
| to later cut corners when you prepare the auction | | | | cope with returns, so they'll list an item with a return |
| listings. A detailed description is particularly important if | | | | policy of "no returns accepted". Others offer a return |
| the product is sold with multiple accessories, such as a | | | | policy such as "returns accepted within 7 days, buyer |
| camera with different lenses. Also, if you are aware | | | | is responsible for return shipping plus a restocking fee." |
| that the product is used with another item that is not | | | | Requiring the buyer to pay return shipping and/or |
| part of your online auction, it is best to state explicitly | | | | charging a restocking fee is standard. No matter what |
| that the other item is not included in the auction. | | | | you write as a return policy, however, you can be |
| These can be illustrated with iPod auction listings. You | | | | forced to accept returns if the buyer alleges you |
| probably know already that iPods are supplied with | | | | provided an item that was Significantly Not As |
| variable amounts of memory. Your description of the | | | | Described (SNAD). PayPal allows SNAD complaints to |
| memory capacity for the specific item you are selling | | | | be leveled up to 45 days after the sale, so even if |
| must be accurate, because if an item advertised a 32 | | | | your listing said that returns would not be accepted |
| Gb iPod turns out to actually be an 8 Gb model you | | | | after 7 days you are still bound by the PayPal SNAD |
| can bet the buyer will lay a claim against you to get his | | | | policy if you accept payment through PayPal. |
| money refunded. This is also why it can be hazardous | | | | The terms of service for online auction sites and |
| to copy auction listings from another seller for a | | | | payment providers are not unduly complicated, but |
| product if you don't really know anything about it: yours | | | | make sure you read the fine print before you try to |
| might not be configured the same way his was. | | | | start selling. Participating in auctions first as a buyer is |
| Negative feedback can be very damaging when you | | | | usually a good idea. This also helps you to establish a |
| are in the startup phase for an online business. | | | | good reputation within the online auction sites. If you |
| Suppose you are selling a used iPod without any | | | | have obtained a quality product to sell that consumers |
| headphones. Your picture just shows an iPod and no | | | | want to buy, you are able to create attractive and |
| headphones are visible, since you aren't auctioning a | | | | clear auction listings, and you understand how your |
| headset or earbuds with it. An iPod needs a headset | | | | auction site works, then you have all the makings of a |
| of some sort, though, and any new iPod purchased in | | | | successful internet auction based business. Good luck |
| a store would include earbuds. Assuming that the | | | | and have fun when you buy and sell online! |
| buyer understands a headset is not part of the auction | | | | |