Buying or Selling In an Online Auction?We have some valuable tips to help make your experience FUN! $$ Money Saving $$ and Money Making.

So you want to bid on an online auction

It can be exciting and rewarding. You may locate just the right hard to find gizmo for a gift, or a childhood memory as it unfolds in the auction photo right before your eyes.

In any case before you place your next bid or even your first, we have compiled a small list to assist you in making your auction purchase a fun and money saving experience.

1. If you are looking for something new, know the value of the item before you bid. You can go online with several retailers or local businessess to research your item. You should always pay less if the item is reconditioned or used.

2. If the item you are searching for is used, old, ect. Look around at other auctions to see what the going price is so you can bid accordingly.

3. When you look at the auction page if the seller does not provide sufficient information, contact the seller prior to bidding. You donot want to end up with an item that doesn't look or sound like the description. I know this from personal experience. Sellers are trying to sell, they will respond.

4. Before you start the bidding process, have a maximum price you are willing to pay set and stick with that amount. It is very easy to get caught up on a bidding war, ( I know this from experience as well) One thing you donot want to do is pay more than the item is worth. You might want to look a the shipping charges when figuring out much you want to spend. Some sellers include shipping.

5. Make sure you look at the time the auction began and when it ends. If your auction purchase is for a gift and time is of the essence, make sure you inquire on the shipping time. Example, if the seller lists ups ground and you need it faster, inquire on air freight and the charges, again sellers want to sell so they will accomodate.

6. What are the sellers payment options? Look in the auction listing prior to placing your bid. Nothing worse then placing your bid and winning only to find out your method of payment cannot be accepted. If the seller does not list a payment method acceptable to you, contact the seller and ask. There is almost always a waiting period for checks to clear. Always make sure they provide a secure server when paying by credit or debit cards.

7. What is the sellers return policy or guarantee? Better to be safe than sorry. Most sellers include a good description if the item is used and or old. Usually guarantees are not provided on old and used items other than to say the information provided is to the best of the sellers knowledge or something similar. When in doubt, contact the seller.

8. Want to check out the sellers history? i.e. Happy buyers, Unhappy buyers. Most auctions provide that type of information to assist buyers. Look on the home page of the auction site, or on the auction page.

9. Now that you have decided to place your bid, you know when the auction begins and ends you can place it now or wait and see what kind of interest it gets. And then place your bid. It's up to you. Last minute bidding occurs often. Don't forget the maximum amount you set. Don't go over it! Its easy to get caught up in the excitement.

10. You know what they say: One mans junk is another mans treasure!

Here is a list of online auctions, not in order of preference, just alphabetical order.

• eBay!
• OVERSTOCK
• UBID
• YAHOO
  
  
  
  So you want to sell on an online auction.

Many eBay sellers don't bother to try new techniques or ideas when selling their products. To them, if a profit is made, they're happy. In their minds, they have been successful. So why change a good thing? We have all heard the saying, "if its not broken, don't fix it." Well, that type of thinking will never create growth in a business. All professional sellers look to their business on eBay as a way to make a profit….the bigger the better. As we have discussed in the past, there are certain techniques that eBay sellers can implement to maximize their bids and increase profits. The following article shares five more secrets the majority of eBay sellers ignore.

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Develop the right title

Your item title is the first opportunity you have as a seller to attract potential customers and bids. Think of your title as your product's "headline." A strong attractive title will enable you to draw prospective bidders to view your product. eBay limits titles to 55 characters in length, causing the seller to use abbreviations whenever possible. Because buyers conduct searches two ways (by category or by keyword), it will also require sellers to try different approaches for the same products and test which titles are most effective. As I seller, you must carefully choose specific and accurate words to most effectively meet both search preferences.

Create strong item descriptions

Although writing an item description can be one of the more challenging areas for sellers, it can also be one of the most important. The value of the items sold should determine the amount of time you put into writing the description. Less expensive items shouldn't warrant more than a few minutes of your time. Many sellers error by underselling their items and do not include enough pertinent details regarding their products. Another common seller mistake is relying solely on photographs to sell their products, thus failing to develop a strong, informative description. An attractive description will include action words to describe product features and customers benefits. Sellers must create a desirable advantage to the buyers. By not listing benefits, you run the risk of undervaluing your item.

Cross-sell related items

Before listing any product, all sellers should think of additional items related to the product, which can be included in the sale and provide added value. The items can be as simple as the original box the product came in. For example, does the laptop you are selling come with a carrying case? If you have one, include it. Items such as a laptop carrying case may be add-on items that the buyer would most likely need and buy elsewhere. Other related items a seller can offer may be complementary to the items you are selling. If you sell autographed baseballs, a logical complementary item would be a display case. It is your job as the seller to anticipate what additional needs or wants the buyer may have and offer a solution to meet them.

Take advantage of resources on eBay

eBay offers sellers a wealth of information at "Seller Central." All sellers should review this section to make the most of their selling experience. It includes a "What's Hot" section, where you can review the most popular categories. The "How to Sell" and "News and Updates" sections offer top techniques from the pros and the most recent features available to sellers. Plus since EBAY LIVE Las Vegas 2006, lots of new ideas and programs have been implemented.

Another must-see area is the "Completed Auctions" section from the "Advanced Features" section. Here, sellers can research auction details from the last 30 days for products similar to the ones they sell. By reviewing information about similar auctions, sellers will be more informed and able to maximize their selling potential by comparing past price and bid information.

Set fixed shipping and handling fees

All sellers want to cover expenses associated with shipping their products to buyers. Factors they must consider include boxes, wrapping paper, bubble wrap, Styrofoam, labels, gas to and from the post office, and labor costs, to name a few. These are all valid costs that will affect the bottom line of every seller. A simple solution is to calculate one price for domestic customers and another for international customers. Determine a reasonable amount and include it on your product information. Most customers can accept paying a few extra bucks on shipping if you package carefully, label neatly/accurately, and ship quickly. It also provides a quick and easy option for buyers without them having to calculate the cost. One caveat: If a buyer contacts you about lower shipping costs, consider meeting their request if they're offering a nice bid. It's worth the good customer relations.

As you can see, the techniques listed above are simple ideas you can use to get ahead of other sellers. Successful sellers must be open to change and willing to try creative selling strategies. Researching what works for you and your business will pay off in the near future. Most important, implementing these proven ideas will help you develop even more successful strategies to maximize your bids and increase profits on eBay