Auction Power Guide

Hello my name is Erick and my dad and I want to open up an eBay business selling old car parts. We have a bunch of old car parts and I wanted to know if it is worth opening a eBay business. Also, what are the pros and cons of opening it and if there is any tips on opening a business. Thank you.

Hi Erick

Opening an eBay business can be very rewarding and profitable. I would start small by listing a few parts and gaging your response from buyers as to the demand for your products.

You have 2 ways of listing your products,
1) to do the conventional auction listing.
2) Buy it now listing.

Both have their benefits and draw backs as you can imagine. I would be tempted in your case to go for the buy it now system as you are able to obtain a higher selling price I would imagine. Unless the parts you propose to sell are very rare and widely sort after.

Shipping is a very important point to think about. I would call your local UPS depot and talk to them to see what they can offer on shipping rates. Most shipping companies are always willing to talk about their prices and give brake’s to businesses who ship large volumes. Some of your smaller parts I would imagine could be shipped using USPS, Priority Mail. THey offer all the boxes free and you can pack quite a lot of weight into the boxes, up to 70lbs for a very reasonable rate.

Most eBay sellers miss a very simple listing point when selling items, that is to give good contact information. Buyers feel better and are willing to pay more if they feel they can contact the seller easy. I would not only allow them to contact me through eBay but I would also use a Skype telephone number. You can place a recorded message on it and get back to them later if necessary. This seems to give you more credibility and so more sales.

Photographs are another must have. The more pictures the better. Buyers want to see the item from many different angles. Don’t forget the buyer cant touch the item so they rely on the pictures to give them a better idea as to the condition of the item. I would not use eBay’s picture hosting as it is too expensive. Find a business’s that does picture hosting or a business the does both picture hosting and eBay templates. It will save you a lot of money over the course of a year.

eBay Templates! These are a must have. They make your listing look professional and neat. It is a proven fact that templates do increase the selling price of items. You can find many online businesses offering templates for you to use. Remember look for one that hosts your images as well as having templates. Expect to pay around $8.00 per month for their service. Some but not all of these businesses have a huge information system to help you sell on line so they are worth the investment. Also a lot offer the first 30 days free.

Payment is another option you need to consider very closely. Are you going to accept only PayPal? or will you allow customers to send you checks or money orders. The more payment options you have open the wider your market place is. A lot of older people do not like to use systems like PayPal and would rather send a check or money order. Obtaining your own payment gateway can be expensive when you first start. I f your business flourishes, then I would possibly consider one in about 12 months time.

Customers inquiries. These can be a pain, people do not tend to read the item description for some reason and will often send you a message asking about a feature you have explained in the listing. MAKE sure you always answer these questions quickly, as this shows you are a serious eBay seller and that your customers matter to you. I know it sounds stupid stating the obvious but you would be surprised at how many online sellers do not do it.

Ive never sell anything on eBay only bought,I need to know if I really have to pay $1 a day for each item I have listed and all the fees. Thanks

I’ve not familiar with having to pay $1 a day. In my experience the cost to sell on ebay varies on how you list your item. Normally when you list an item, you are charged an ‘insertion fee’ based on the starting price you choose. This includes one free picture and the listing runs for 7 days. If you choose any ‘upgrades’, for instance using more pictures, there are additional ‘upgrading fees’. You are able to see your fees and any upgrade fees on the listing form before you submit your listing. If your item does not sell, you do not have to pay the normal insertion fee. However, presently ebay is offering 50 _free_ insertion fees a month. This sounds like a good deal BUT, if your item sells, you are charged a 9.0% ‘final value fee’ on that amount _plus_ now your shipping costs are adding to the ‘final value fee’! As you might know, shipping is usually pretty expensive so now this adds quite a bit more to the ‘final value fee’ of each item!

Also, ebay owns Paypal and you are forced to use Paypal to receive payment. So in addition to paying ‘final value fees including shipping costs’ to ebay, you have to pay fees on the same amount to Paypal also – kinda like double jeopardy!

I’ve sold on ebay for over 10 years but when I started having to pay fees to ebay and paypal on my shipping costs, I quit….

I would recommend starting with Craigslist.com which is local and completely free, plus you can relist your item(s) as often as needed and there is no shipping involved. Hopefully there is one in your city. There are a lot of spammers on Craigslist that just want you to reply to get your email address to hustle. I avoid that by ‘hiding’ my email and using my telephone number only. Ironically, ebay recently bought a local and free site very much like Craigslist. It’s ‘eBay Classifieds’… as ‘Nashville eBay Classifieds’. It is easier to use than Craigslist but not as well known yet. Another suggestion is to check Yahoo Groups in your city for free _online_ yard or garage sale classified sites. I have four in my area.

Selling Tip: If you do use ebay, they often suggests sellers begin their starting price at 99¢ to encourage bidding. I see that as a definite way to lose money, particularly if only one person happens to bid on your item. So set your starting price at the least amount that you are willing to accept for your item and be aware that ebay and Paypal fees will run over 10%.

Hope this helps…

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Once you have received eBay’s verification email and followed all of the instructions, which will help you validate your eBay account, you will be able to start using eBay right away. When you first get started, you may need to sign in to your eBay account. As previously stated, you will need to use your eBay sign in name or screen name and password to do so. For that reason, you may want to write down your sign in information and keep it in a safe place. Once you have signed in to your eBay account, you can then do whatever you want; buy or sell.

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If you are interested in using eBay to shop online, to buy, you will want to start searching for items to buy. This can be done a number of different ways. eBay allows you to browse through their large selection of items, by detailed categories. You can also perform a standard eBay search or an advanced one. Searches are more likely to give you accurate, tailored results. When browsing or searching for something in particular, you should be able to see a large number of auction listing all on one page. The information that you will be presented with at this time is the standard, bare minimum. If you would like more additional information on the item in question, such as how much shipping costs or too see additional pictures, you will want to click on the link to view the detailed sales page. Should you like what you see, follow the instructions to buy and you will have made your first purchase on eBay!

As it was previously stated, if you are interested in selling on eBay, to make a little bit of extra money, you can also do so. The only difference is that you are required to pay small fees to become an eBay seller, unlike eBay buyers who have completely free accounts. The amount of money that you are charged will all depend on your auctions, particularly how much you list each item for, as well as how well each item sells. To get started with selling, you will want to click on the “sell,” link at the top of the eBay webpage. What is nice about listing items for sale on eBay it is relatively easy to do. For example, you need to choose a category for your item, make a headline for your auction listing, write a description of your product, upload pictures of what you are selling, outline shipping costs, as well as accepted forms of payments, but everything is outlined for you, in a step-by-step matter.

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Learn more about how to make money over $8,000,000 selling products on eBay. You’ll discover step-by-step, tips, techniques and insider secrets of how to become a millionaire internet entrepreneur selling products on eBay.

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