The first thing you want to do is decide what niche you want to target and determine which method you are going to use to find deals.

Live auctions or internet auctions, that is your question.

Don't rush to profit with items you don't understand. Start out looking for bargains on items you already know the value of and how to judge their condition.

They say everyone has a book in them. Well everyone knows how to find bargains on particular items too. Some people can sniff out a shoe or clothing bargain a mile away. Others know the best car deals for every year since they started to drive. Focus on what you know at first, then branch out as you get more familiar with the auction process.

Attending live auctions in your local area is a good idea because it will allow you to network with people who are already in the business.

Take your time, don't jump into live auctions. Attend a few times before you bid on anything. This will give you a feel for how things work and also show you who the major players are locally. Many of the older regulars will not be flipping their items on Ebay but most of the younger ones will.

Every auctioneer has their own style, get a feel for each one in your area. If you feel uncomfortable with the way any of them do business, stop attending their auctions. It is far better to lose an incredible deal than win a bad one!!!

Each online auction site operates basically the same but there are occasional differences. You will want to spend time at the big name auction sites and get a feel for them before you jump into selling there.

If you learn nothing else from this lens, please do yourself a favor and ALWAYS use a spell checker on your auction listings!

A misspelled word in your title can make the difference between hitting the jackpot and losing your tail.

If you are on the buying end, a misspelled key word in the auction title is an incredible break. Most people search by key words online (not categories) so if the item's name is misspelled, the majority of auction seekers will never know it is up for sale!!!

How do you find these amazing bargains? Well a script has been created to make it easy on you. Bookmark Free eBay Misspelling Tool

There are many people who make a living out of finding misspelled items in hot niche markets. They snap them up on eBay and turn around and sell them either back on eBay or through a local source. It is easy money for them.

You don't have to be a power seller, you don't have to sell on eBay at all.

It is very easy to buy up items on eBay and sell them locally. Look at the wanted section of your city newspaper, check the online auction sites to see if you can find it cheaper than the person is willing to pay.

A rare record listed with a misspelled title or put up for auction with a ridiculously low "Buy It Now" price can most likely be sold with a simple classified ad in your freebie paper.

You can make an extra $100 a month with minimal effort.