Top Online Auction Sites
just a place to sell unwanted items?

Top online auction sites are a phenomenon which have really captured the public's imagination as they are by nature part business, part fun - and highly addictive!

They can also be hugely profitable if you know what you are doing and understand how to get the very best returns from them.

Some questions that might come to your mind are...

• where to sell?
• what to sell?
• for what price?
• and when to sell?

Where to find the top online auction sites

There are a number of internet auction sites, but the 'biggie' is eBay. (Click the link to go to a page with more information on how to sell on eBay). Others include ebid.net (zero listing fees), loot.com and tazbar.com.

Millions of people visit the popular online auctions every day, and they all have something in common - they are thinking about buying something!

Online auction websites can be used to turn your unwanted items into quick money.

But what do you do when you have sold everything that was lying around? You can still make money from these sites, by buying in items to sell.

There are many places where you can purchase goods at low cost, including government auctions online, car boot sales and even from looking at postcards advertising things for sale in shop windows.

What to sell and how

You could discover this by trial and error, but there is an easier way! Take a look at your auction site's top sellers. EBay's "Pulse" is a great example of where you can find a list of the most popular items.

Remember that clothes you have had hanging in your wardrobe or closet for years, might not be considered "old fashioned" but retro, and be in demand.

Photographs help

Don't forget to take pictures of your items if you can, as they will increase the chances of a sale. You don't have to be a professional photographer, just eliminate any distracting elements and make sure the product is in focus. If you are photographing something small, get close and try out your camera's macro button.

Lighting is important when taking shots of your items. Try not to use flash when photographing shiny things as it will reflect back into the lens and obscure the details. A white bath makes a great place to take your photos. And you get the benefit of a seamless background.

Give a good description

Describe your product accurately and honestly, but with flair. Point out any imperfections, so the customer knows about them before deciding to bid.

Include relevant "keywords" in your title to help people find your items when they search. Save your descriptive words for the paragraph underneath.

What not to sell!

Be aware that there are some things that you cannot sell on the top online auction sites such as eBay. These include...

• Animals
• Alcohol
• Drugs
• Firearms
• Human parts and remains (!!!)
• Lottery tickets
• Surveillance equipment
• Train and airplane tickets

Pricing your goods

This is partly taken care of for you, as bids are placed on the items for sale, up until the moment the auction closes. However, you will need to set a starting price. Most people keep this as low as possible to encourage bidders to make an offer.

You can also offer goods on a Buy Now basis, where you set the price you require and the first person to agree to that price wins the item. This is often used if you have more than one of the same thing to sell.

It is possible to put a reserve price on a big ticket item, to ensure that it doesn't sell at a ridiculously low price. The bidder will not know what that reserve price is. When they make an offer that is too small all they will be told is that they haven't bid enough to clear the reserve price.

Something to keep in mind here is the weight of your goods, and therefore the cost of sending them by post. You will charge the top bidder for postage, but do keep it accurate and don't try to earn extra money by inflating the postage costs.

When to sell on the top online auction sites

Have you considered the time of day when your auction will end?

Try to fit in around the times when your target audience will have access to the internet, so that they can place last minute bids. That is the point where, if two people really want something, they can keep bidding in the hopes of being the one to win it.

This may mean posting the item to the site at an uncivilised time for you, but the benefits far outweigh the inconvenience.

Want to have a go?

This page will have given you some basic information but if you think this might be the ideal way to earn extra income in your retirement, you really need to read the Make your Net Auction Sell! handbook. (You can download it for free from that link.)

Top online auction sites are one area where you can establish a long term presence and a good Internet income with genuinely low risk and a high profit potential. You are really only limited by your imagination!