Making The Most Out of eBay

1. Build A Positive Feedback Rating

Give and get good feedback. This is less critical for buyers than for sellers, but having a good feedback rating makes other eBayers comfortable doing business with you. For example, I accept checks for immediate shipment if the buyer has a good feedback rating. If someone has very little feedback (less than 20) or several negative comments, then I hold the checks until they clear before sending an item.

2. How to build feedback quickly?

Here is a quick way to build good feedback: make some purchases for a few lower cost items you use everyday or that you would normally buy at a store. There are plenty of items in the Health & Beauty category that you buy every day such as shampoo and razor blades -often at prices less than you would pay at Wal-Mart.

Pay promptly using PayPal and immediately post feedback for the seller as soon as you get the item. If the seller does not post feedback, send them a short email telling them that you posted feedback for them and you would appreciate them reciprocating.

3. Be generous with your feedback

Post feedback quickly and leave specific comments. Leaving a comment that says: "great seller," is nice -but it is more helpful to say, "Item arrived quickly in perfect condition, just as described." Or: "Quick Professional transaction -good email and just what I ordered." If the seller sells something specific you can mention it such as: "Beautiful Print -I will enjoy for many years."

This type of feedback is very helpful to future buyers and it tends to get you better feedback comments in return.

4. Use PayPal

Sellers want to be paid quickly and everyone is concerned about fraud. There is no faster or safer way to complete an eBay transaction than PayPal (owned by eBay). PayPal is now used by over 100 Million users around the world and now processes more debit and credit card payments than Citibank. Over 80% of registered eBay users accept PayPal and eBay has fully integrated PayPal into their systems. Take the time to become a verified seller and always give your verified shipping address. This gets you the fraud protection. Go to www.paypal.com .

Did you know you can also use PayPal as a savings account? According to Money Magazine, PayPal now pays the highest rate on ordinary savings accounts. When I wrote this PayPal was paying 4.8% while my bank, Wells Fargo, was only paying 3.3% .

5. Avoid Fraud on Large Purchases

Given the millions of transactions that occur each month, fraud is actually rare on eBay but it does exist. The most common type of fraud on eBay is a seller that offers an expensive item for sale at an unbelievably good price. When you win the item the seller asks to be paid in cash, cashiers check or money order. You send the money and then the seller disappears.

Demanding a cashier's check or a money order only is a red flag. Never bid on a large purchase if the seller will not take PayPal or a credit card. Always check the seller's feedback and how long they have been registered on eBay.

Most fraudsters set up an eBay account, run a few quick expensive auctions, get the money and either disappears or are kicked off of eBay as soon as they are discovered. Be especially careful if the seller is located outside the U.S.

6. Pay sellers quickly

Paying quickly will help you build feedback faster and you will get your item sooner.

7. Be honest - admit your mistakes

If you forgot about the auction and are late getting a payment off or you forgot to ship something you sold - be up front and honest. Apologize and admit your mistake. People can be very forgiving if they believe you. They can be unforgiving if they think they are being B.S.'ed.

8. Create an About Me page on eBay

EBay allows you to create a page to describe you and your family or even include your pets. You can put a photo on the page, talk about your hobbies, your family - basically anything you like. The About Me page is where a person can get a sense of who you are and if they would like to do business with you. If you have a web site, this is the one place on eBay where it is allowed to direct buyers to your web site.

9. Master the power of searching

According to eBay, about 65% of bidders find their item by searching. Including the exact name of the product you are selling is key to bidders finding your auction. Some sellers place a tilde (~) or a star * next to their auction title to help get attention. Place a space between a tilde (or *) and a word, or the word will not come up in a search.

For example: *Nikon* would not result in any items found, because eBay's search engine sees the * as part of the word. According to Power Seller News, some of the most searched words on eBay are: DVD, Art, BMW, Gucci, Longaberger, Louis Vuitton, Laptop, Playstation 2 and Paintball.

A great tool for finding hot selling items is Auction Inspector. You can learn a ton more at Auction Inspector - Find What's HOT and What's NOT


10. Be sure to thank people

Send an email to your seller when the item arrives. Thank them and let them know you posted feedback and are happy with the transaction.

11. Search for misspelled items to find bargains

Finding misspelled items is a great sport on eBay. Remember that 65% of eBay buyers find items by searching. If someone spells an item name incorrectly it will not come up in a search. These items usually get very few bids and this is a great place to shop.

Here are a few misspelled words to try: jewelery, strawberi, Ken Griffy, Porsch, beaney, If you want to buy something specific on eBay, think of how the word could be commonly misspelled and type it into the search box. You will often be surprised how many items come up.

12. Use the .02 or .03 rule.

Most people bid in even numbers. If the bid increment is 50 cents, make your bid .52 or .53. This way you will just outbid someone by a few cents instead of a large increment. This is very important when sniping (see next item)

13. Learn to snipe

EBay's proxy bidding system allows you to set your highest bid and then forget about it. EBay will keep bidding the minimum increment up to your maximum. This is fine if you know exactly how much you want to pay for something. If you are not sure how much you want to bid or if you know an item will be hot, then learn how to snipe at the last minute. Here is how to snipe:

Open one window with the auction description. Open a second window and place the highest amount you will pay for the item and hit "Review Bid." Now enter your username and password -but don't hit "Place Bid" yet. Wait until 15 or 20 seconds before the auction ends. (Refresh your first window to see the time left). At the right moment, hit "Place Bid." With luck your bid will arrive at the perfect time to beat out your competition.

Be sure to synchronize your time with the official eBay time or you could just miss the end of an auction.

You can also purchase a sniping service. I use BidSlammer which is very inexpensive and can snipe the auctions where I am not around.

14. Use Ending Today

When searching eBay listings and categories, it can become very tiresome because there is so much out there. If you're just browsing for stuff to buy, then select a category, and select Ending Today. Items ending in the next 24 hours will be highlighted in red. Here's a tip to find great bargains. Look for items ending after midnight. There aren't as many people up after midnight and those auctions tend to get fewer bids. If you don't want to stay up that late, use BidSlammer to bid for you.

15. Search Completed items

To find out what a product is worth, it doesn't do any good to find prices for on-going auctions as this could change minute by minute. Searching Completed Items (from the eBay search box) is the best way to determine an item's worth or value.

I believe Auction Inspector also pulls this information for you. Check it out at Auction Inspector - Find What's HOT and What's NOT


16. Check the seller's feedback rating --and the comments

Because you are spending your hard-earned money, it pays to check the feedback When in an item's auction page, select "view seller's feedback."

This will list all comments made by others that have dealt with this person in the past. It can be very revealing. If you see a bunch of negative comments, stay away from this seller. If you see positive, then proceed. Don't let one or two negatives dissuade you if most of the feedback is positive. Everyone makes mistakes, and things do get lost in the mail.

17. Be careful about leaving negative feedback

You should always try and work things out with the seller. If a seller is a total fraud, then go ahead and leave negative feedback.

eBay is a community and most people are basically good, although all of us mess up once in a while. Unfortunately there are a few "Crazies" out there. If you leave negative feedback on them, they seek revenge, start flaming email wars, send emails to your bidders and so on.

18. Check your email at least twice daily

As a buyer, you want to ensure you win the most bids you can- within your price range, of course. Since eBay will email you whenever you're outbid on an item for which you have an outstanding bid, you want to be sure you know as soon as possible, so you can re-bid if you want to. If you don't check your email, and you receive an outbid notice, by the time you do check email, the auction may be over for that item. Checking your email regularly will keep you informed of the status of your bids.

More information on My Blog.

19. How to narrow your search?

Since using a single word for your search can return many, many ads, you may want to narrow the search even more to get down to a more specific need. For example, suppose you are looking specifically for Timex watches as opposed to just any watches. Then use the AND keyword function in your search. In the search field, you'd enter Timex watch. This would return a list of all ads with both the words Timex and watch in them and exclude all ads that do not contain both words.

20. How to narrow your search even more?

Let's say you are looking for ads that include certain phrases, or words that go together in a specific order. For instance, if you are searching for teddy bears, you can use quotation marks. The command you would use is "teddy bear". This will return a listing of all ads with the words teddy bear in them. The word bear must immediately follow the word teddy for the listing to show.

For more top ideas on what and how to make a killing, try Silent Sale

21. Finding auctions with multiple words

If you are searching for items that have one of multiple words, you can use the OR keyword in your search. For example, if you wanted to find all auctions that have in their title listing the words cat or dog, then you would enter (cat, dog) in the search field. This would return all ads that have either the word cat or the word dog in their listing.

22. Locating auctions with one word, but not another.

If you are looking for watches, but are not interested in Timex watches then you would use the AND NOT keywords. In the search field, you would enter: watch -timex. This would return all auctions whose listings included the word watch, but excluded the word Timex. (Note there is no space between the minus sign and the word timex).

23. Don't Fall for Spoof email supposedly from eBay or PayPal

Many emails you receive in your email account from PayPal or eBay are really fakes. If eBay sends you an email to your email address -and they sometimes do, don't open it. Whenever eBay sends you an email they also send it to you're My Messages box in you're My eBay Page. Just go to you're My eBay Page where you will also see the email if it really came from eBay. You can open it there safely. If you receive an email from PayPal, don't click on any of the links. Instead just log into your PayPal account and you will see any notices on your main account page.

All genuine emails from eBay and/or PayPal will be always be addressed to you by name. If the email says Dear Member --it is a fake!

24. Be careful using a SPAM filter

Unfortunately once you start buying and selling on eBay, your email gets out there and your volume of spam increases. Eudora has a great free email program called Eudora Lite, free at www.eudora.com, which allows you to direct all your eBay related email into a special mailbox where you can filter it. Microsoft outlook has this feature.

There are also new services available on the Internet to filter out spam -but they are not 100% reliable. They sometimes filter out legitimate messages and still let a lot of spam through. That can be a problem --you might not get legitimate emails from sellers, bidders or buyers. So get in the habit of checking your spam filter regularly.

Also be sure and use the same email address for both your PayPal and your eBay account. Using different email addresses can really confuse people you are doing business with. (However for security reasons always use a different password for your eBay and PayPal account).

25. Know what you are bidding on

Unless the item you are bidding on is clear and unambiguous, be a little careful. If an item description is not complete, or if you are buying a collectible or something used, take the time to email the seller and ask questions or for clarification. If the seller doesn't answer quickly and completely, that is a warning flag and you should be careful.

Be especially careful when bidding on high-priced items.

eBay Tips For Sellers
Whether you just want to have some fun, use eBay to clear out your attic, make a few extra bucks, or even start and eBay business, you will have to master the "basics" to sell successfully on eBay. The following tips are a good start -but you will need to keep learning to master the techniques of eBay success.

26. Learn to sell on eBay

Even if you don't need the extra money and have no interest in building an eBay business, try selling things from time-to-time. Why? It's fun! You will get far more for stuff on eBay than you would from a yard sale.

Silent Sale has some more great tips on being a quality seller, as well as some more information I've found is on My Blog.

27. Buy on Overstock.com and other auctions to sell on eBay

eBay is king of the mountain. Overstock.com, and others are good auction sites, but they are not even a close second to eBay. Because Overstock.com auctions do not get as much action, you can often buy good items on Overstock and other auction sites and resell them on eBay for a profit.

28. The best types of products to sell on eBay

Everyone wants to sell the latest consumer product -but the truth is there is a lot of competition from established sellers and even big online companies that have discovered eBay. The best item to sell on eBay is something used or a very specialized (niche) product that few others are selling.

You can buy virtually anything used: clothing, books, computers, DVD's, Stereo equipment, and so on. If you are going to sell new goods, make sure you can buy them cheaply enough to sell and make a profit. One source is the closeout and liquidation companies that sell overstocks and seasonal items returned by department stores. Here is a link to a Free Wholesale Search Engine. I also offer an inexpensive product called My Top 20 Wholesale Sources for eBay Sellers. This is a great place to find good wholesale sources that will work with eBay sellers.

Another great item is consumables. The idea here is to get repeat business via your web site from customers who buy from you on eBay. One of the best selling products from The Auction Seller's Resource is the Wholesale Buying System (WBS). This tells you how, what and where to buy products to sell on eBay. The WBS comes with password protected access to a member's-only web site where you can access thousands of wholesale companies directly. The web site is updated monthly to add new sources.

29. Search Listings on eBay to see what is selling

Go to: http://listings.eBay .com to see what is being listed and sold on eBay. The number in parentheses after the category title is the number of auctions for a given item. In general, the higher the number the more action and sales.

30. Master niche marketing and specialize for success

This is home plate for your success strategy. Find your own niche. Define your market. Then you can know the type of person you're going to be selling to and the types of product you want to sell. You will also have less competition.

Forget trying to sell computers, digital cameras, iPods and plasma TVs. There is no way you can compete with the big guys unless you have tons of money. And those drop ship web sites and programs that claim to have those products are mostly scams. Find a small niche --or several small niches that you can dominate.

Along with being in a superior position to take advantage of repeat business, the benefits from becoming specialized are endless. If you know more about your product area, you will be able to buy at better prices and people who sense you specialize in something will be more comfortable buying from you.

31. Become an expert in your field

Become an authority on what you do in your online auction business. If you sell printer ink cartridges, you want to be thought of before anyone else.

When you become an authority in your field, a whole new universe of business and opportunity is opened up to you. I buy certain types of things on eBay from the same sellers over and over. I wouldn't dare do business with anyone else, not when they have proven themselves and their product.

You want to earn that same type of position in the minds of eBayer's for your niche. Also continue your auction education. Read books and training manuals, visit the chat and message boards, attend an eBay University when it comes to your town, go to eBay Live, and keep learning all the time.

32. Increase sales by putting audio in your auctions

I began using audio (voice) in my auctions in May of 2004. I saw an immediate increase in sales. For example, I sell expensive fire pit barbeques ($200+). Before using audio, I was selling one or two a week. Once I put audio in my auctions I started selling almost one a day. The same thing happened with my EZ Cube Photo Studios. I was selling about two a week on eBay. When I added audio to my auctions with Seller's Voice, my sales more than doubled. Now I sell at least four and sometimes five or six units a week.

We also sell Starbucks collectibles. I ran a test of identical auctions with and without audio. Every auction with audio got more bidders and sold for a higher price --in some cases as much as 22% higher!

I use a company called Seller's Voice for my audio. It is so easy. I just dial an 800 number, record my message and then go to their web site and copy a short line of code that I paste into my auction. If you launch your auction first, you can also record the message and just type the auction number into the phone and they will paste it in for you.

More tips at My Blog.