| eBay - the World's Online Marketplace - | | | | sell your item at too low a price but |
| is the place to go when you want to buy | | | | can also be disadvantageous since it may |
| or sell anything on the Internet. eBay | | | | discourage buyers from bidding. The Buy |
| lets its members sell items on the | | | | It Now Price, on the other hand, is |
| Internet via Auctions, which entails | | | | advantageous for buyers who really want |
| bidding, and through the Fixed Price | | | | to buy the item you are selling since |
| Format, which means that there is a set | | | | there is no risk that they will be |
| price for items on sale. eBay Auction is | | | | outbid if they automatically buy the |
| the more popular selling method between | | | | item. It is also advantageous for you as |
| the two. | | | | the seller since it can hasten the |
| Selling on eBay | | | | transaction since you don't have to wait |
| When selling on eBay, whether it is | | | | for the bidding period to end. However, |
| through eBay auction or the fixed price | | | | it can also be disadvantageous if there |
| format, a person has to first register | | | | is much demand for the item you are |
| to be a member and then create a | | | | selling since having a Buy It Now price |
| seller's account. Credit card details or | | | | will limit the amount bid even if some |
| being ID Verified is needed to create a | | | | buyers might actually be willing to bid |
| seller account. The next requirement is | | | | beyond that set price.eBay charges the |
| a picture of the item to be sold. This | | | | following fees to seller. The Insertion |
| is required since most buyers want to | | | | Fee, Additional Option Fees, and Final |
| see what the item actually looks like | | | | Value Fee. The Insertion Fee is a |
| before buying anything. | | | | non-refundable fee charged for each item |
| The next thing to do is to get your item | | | | listed on eBay Auction. Insertion Fee |
| listed by clicking on the Sell Your Item | | | | ranges from $0.30 to $4.80. Additional |
| button. After clicking on the button, be | | | | Option fees are charged if you opt for |
| sure to give all the necessary | | | | additional features like the Buy It Now |
| information such as the item category, | | | | and if you want your item to be a |
| the title, item description, and the | | | | Featured Item. The Final Value fee is |
| price, payment method, shipping costs, | | | | charged depending on the closing price |
| return policy, and payment methods. For | | | | your item manages to garner after a |
| your item to have a greater chance of | | | | successful close at eBay Auction. |
| being viewed by more prospective buyers | | | | Bidding on eBay Auction |
| you can list the item under more than | | | | To bid on an item in eBay Auction, click |
| one relevant category. Another effective | | | | on the item you wish to buy to get to |
| strategy would be to have a very | | | | the item page. You can then place a bid |
| specific title that would most probably | | | | by simply clicking on the Place Bid |
| typed by prospective buyers as their | | | | Button found on the right side of the |
| search string. | | | | picture. In case there is no such button |
| To keep track of all your listings | | | | it means that the item can only be |
| simply go to My eBay since it keeps | | | | bought at the set price and isn't up for |
| track of all the items you've sold and | | | | auction. When you place a bid the only |
| are currently selling along with all the | | | | price you will see is the starting price |
| bids made on them as well as all the | | | | since the amount bid by other people |
| items you have bid on and are currently | | | | will not be visible to you. Enter the |
| bidding on. My eBay also has a summary | | | | maximum amount you will be willing to |
| page, a favorites page, and your | | | | pay for the item you wish to purchase |
| accounts page. As soon as the item is | | | | the click on the Place Bid Button. eBay |
| sold eBay will notify both the buyer and | | | | Auction will automatically compare your |
| seller through email. Make sure that you | | | | bid with others and won't bid the |
| communicate well with your buyer and | | | | maximum amount you entered. Instead it |
| notify the buyer that the item is being | | | | will bid only what is needed to outbid |
| shipped as soon as you receive the | | | | the last bid. eBay Auction will do this |
| payment. | | | | automatically until it reaches the |
| In case you plan to sell your item | | | | maximum amount you entered or you win |
| through eBay Auction there are three | | | | the bid. In case another buyer outbids |
| prices you need to set before putting up | | | | you eBay Auction will send you a |
| the item n sale. First is the Starting | | | | notification so that you can enter a |
| Price. The Starting Price is simply the | | | | larger amount or at least know that |
| price you want the bidding to start. It | | | | you've been outbid. |
| is also usually the lowest price you | | | | In case you are bidding on a Reserve |
| feel that you can accept as payment for | | | | Price Auction check whether the current |
| your item. Next is the Reserve Price. In | | | | price bid has met the reserve price. If |
| case your starting price is lower than | | | | your maximum amount has been reached but |
| the amount you are willing to accept as | | | | the reserve price still hasn't been met |
| payment you need to set the Reserve | | | | then you know for sure that you need to |
| Price. Having a reserve price means that | | | | increase your bid since the item won't |
| if the bidding ends with the highest bid | | | | be sold until the reserve price is met. |
| still lower than the reserve price then | | | | If you are nervous about bidding on an |
| your item will remain unsold. This price | | | | expensive item keep in mind that eBay |
| is concealed from buyers. | | | | has measures to protect both sellers and |
| Last is the Buy It Now Price. The Buy It | | | | buyers from fraud. If you are simply |
| Now Price is the amount a buyer has to | | | | nervous since it is your first time try |
| pay to get the item you are selling | | | | bidding on cheaper items first before |
| without having to bid. Both the Reserve | | | | going on to more expensive stuff. You |
| Price and Buy It Now Price are optional. | | | | can actually find items for less than |
| The reserve price can be advantageous | | | | $1.00 on eBay auction. |
| since it will protect you from having to | | | | |