Ebay Selling Tips for Your Online Business Profits!

Many first time sellers have one thing in common - they fail.

Many of them fail time and time again, never understanding what is going wrong.

They do hours of research looking for the perfect item to sell, get the auction set up, and wait for the bidding to begin.

Hours go by and no bids are placed. Days go by, and there are still no bids - or there are very low bids. Finally the auction ends, and it turns out to be a total failure.

Considering the huge number of sellers who run eBay auctions, there are specific things you must do, and specific things you must not do if you are to be successful.

There are many reasons why auctions fail. The most common reason is that the item is not in high demand. This problem can be avoided by doing the necessary research to determine which items sell well, and which items should be avoided. This research takes a great deal of time - but in the end, you will find that it is time well spent.

Another reason for eBay failure is pricing. No matter what your reserve price is, your opening bid price should never be more than $50 or so. This is how you will attract potential bidders to your auction.

If you set that opening bid too high, most people won't even click the link to read the description for your item. Another pricing problem is lack of research. Before you set your reserve price, you must determine what the item is really worth, and the price similar items have sold for in past eBay auctions.

Poorly written descriptions are another cause of failed auctions. Poor grammar and misspelled words drive people away. Failing to post a picture of the item will also keep people from visiting your auction page. Make sure that your description is well written. This is essentially your 'sales copy.'

Shipping prices scare people away from auctions if they are too high. Find the lowest shipping prices that you can find, and consider paying for the shipping yourself if it won't cut into your profits too much. Do not charge handling fees.

Offer great 'customer service' for all of your auctions, and ask your buyers to give you feedback. If the items that you sell are everything that you said they would be, and you offer great customer service, you can expect wonderful feedback - and this feedback will help a great deal in your future auctions.

First, you must determine what the value of your item is, in three different ways. This will help you determine what your reserve price is. On eBay, the reserve price is the lowest price that you are willing to accept for your item.

First, have your high priced item evaluated to determine what the actual market value is. Next, research similar items from past auctions at eBay to see what price those items sold for.

Finally, determine what the value of the item is to you. With this information, you should be able to determine the lowest amount you are willing to sell the item for.

Set your reserve price, and then set your opening bid price lower than $50 - no matter how high your reserve price is. This is a marketing tactic. It will be hard to attract potential buyers to an auction for an item selling for hundreds or thousands of dollars - but getting them to an auction where the opening bid is only $50 is quite simple.

Remember, you don't have to sell the item to anyone who bids less than your reserve price - unless you choose to do so at the close of the auction. This method of price setting resembles marketing gimmicks used by offline businesses that are simply designed to 'get customers in the door.'

Work hard on the description for your listing. Use words that really describe your item well. Provide as many details as possible, including details that prove the authenticity of collectible items. Include pictures of the item as well.

Do not try to deceive potential buyers! If the item has marks or scratches, simply be honest about it, and make sure that the pictures convey this as well. State how the item will be packed and shipped. Also let potential buyers know that shipping insurance must be purchased as well - in case the item is damaged once it leaves your possession.

For higher priced items, most eBay buyers feel more comfortable using an escrow service. Offer this as an option in your auction, with the understanding that the buyer must pay for the service.

This protects both parties from fraud, and it makes many buyers more open to spending the money to obtain the item. eBay has partnered with an escrow service that is commonly used for high ticket items.

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