Monday, January 15, 2007

Teen Money Tips - Online Auction Tips - Selling

Here are some tips for when it comes to selling things on online auctions. After all, we all want the most profit possible!

Research your item carefully.

Be clear on your returns policy and whether you will refund return shipping costs.
Only accept bids from those with more than 50% positive feedback. (explain that it gives you peace of mind)

Be clear on what payment methods are accepted.

Do not accept cash in post (only cash on pickup) As the cash may be lost in post or stolen and it could lead to legal disputes (the buyer may claim that they sent you the money and you received it, and then chose not to send the item and claim that the money never arrived.)

Answer all questions asked politely and monitor your auction/auctions.

Don't waste money on listing enhancements such as gallery photos and bold titles unless you are selling few items but at a very high price. For most sellers, these types of enhancements just waste money. Front page listings should only be used if you are constantly selling items at a high profit margin and can afford to pay through the nose for good advertising.

Try and post your listing so that it finishes in the evening. This is so people who have come home from work can still catch your auction before it closes and hopefully put a bid in.

Listing your auction so it finishes at the weekend is not necessarily better as some people go away in the weekends and if they do not have internet access whilst they are away they will not be able to bid on your listing. However, do not worry too much about when your auction finishes because in some cases it is difficult to have your auction finish at peak times.

Ensure that the item is adequately packed and that the box is waterproofed as much as possible to prevent any breakages or water damage whilst the item is being shipped.

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