Understanding eBay Auctions
Over the years, eBay has introduced all sorts of different auction types, in an effort to give people more options when they buy and sell their things on eBay.
For every seller who doesn't like the idea that their item might sell for a far lower price than they intend, there's another who wants to shift hundreds of the same item quickly.
eBay tries to cater to all tastes.
This lens gives you an overview of the different kinds of auctions and their advantages for you.
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Normal Auctions
These are the bread-and-butter of eBay, the auctions everyone knows: buyers bid, others outbid them, they bid again, and the winner gets the item.Simple!
Reserve Auctions
Reserve auctions are for sellers who don't want their items to sell for less than a certain price - a concept you'll know about if you're familiar with real auctions.They work just like normal auctions on eBay, except that the buyer will be told if their bid does not meet the reserve price you set, and they'll need to bid again if they want the item.
If no-one is willing to meet your price, then the auction is cancelled, and you keep the item.
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Fixed Price ('Buy it Now') Auctions
Buy it Now auctions can work in one of two ways.You can add a Buy it Now button to a normal auction, meaning that buyers can choose either to bid normally or to simply pay the asking price and avoid the whole bidding process.
Some sellers, though, now cut out the auction process altogether and simply list all their items at fixed price.
This lets you avoid all the complications of the auction format and simply list your items for how much you want them to sell for.
Best Offer...
Recently, eBay added a twist to fixed price auctions: the 'best offer'.This means that buyers can contact you to negotiate a price, which could be a good way to get sell some extra stock at a small discount.
The only downside to reserve and fixed price auctions is that you pay a small extra fee to use these formats.
In general, it is more worth using reserve auctions for higher-priced items and fixed price auctions for lower-priced ones - but remember that you can combine the two formats.
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Multiple Item ('Dutch') Auctions
These are auctions where you can sell more than one of a certain item. Dutch auctions can be done by bidding.Buyers bid a price and say how many items they want, and then everyone pays the lowest price that was bid by one of the winning bidders. If you have trouble getting your head around that, then don't worry - everyone else does too! These auctions are very rare.
What is more common is when a seller has a lot of one item, and lists it using a combination of two auction types: a multiple-item fixed price auction.
This just means that you can just say how many of the item you they have, and offer them at a fixed price per unit. Buyers can enter how many they want and then just click Buy it Now to get them.
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More Information
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What You Need to Know BEFORE You Get Started on eBay
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So you've decided that you want to get started as a seller on eBay. There are a few things that you really need to know before you go and throw yourself in at the deep end.
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The income possibilities of eBay
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If you've ever read a Squidoo Lens about eBay Marketing, you will have seen the kinds of incomes people make - it isn't unusual to hear of people making thousands of dollars per month on eBay. So... why not you?!
Did you like this lens?
Do you have anything to add to this eBay lens?
Feel free to type what you know right here:
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Junyuan
I must say that eBay is one of the fastest proven source for anyone to start generating a good income online. You have a very good lens that contains really good tips on how one can use eBay to generate good money online. I've given you 5-stars for your lens. I have a lens on how to sell digital products on eBay using eBay classified ads. Perhaps you may want to drop by and let me have your comments. :) You may also want to add your lens to my Internet Marketing Directory to get more traffic to your lens... :) Posted September 24, 2008 |
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wahguide
Hi, Posted August 15, 2008 |
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archangelptx
Great lens! I didn't know about Dutch Auctions until reading it here. A little ad-heavy, but I'm sure it nets you some nice money =). Maybe you could drop by my lens and offer some advice and feedback? It's http://www.squidoo.com/ebayrox . Thanks! Posted April 11, 2008 |
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HappyMT
Great lens, very informative, enjoyed it! Posted March 27, 2008 |
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mindfuljenn
hey, nice lense! I've just listed an auction on ebay as a fundraiser for a mission trip i'll be going on this june. please check it out. thanks! Posted March 25, 2008 |
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nicsnews
Hi Skills, this is a very informative lens on ebay. Good job. I'm filling people in on ebay too and I've also got a few reviews on video learning products that may assist your readers in their ebay endeavours. Check it out at: www.squidoo.com/learnandearnwithebayvideos let me know what you think. Posted October 08, 2007 |
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ebayriches
Hey! Nice site you have on eBay auctions. Great information. I have just set up a lens on how one can a living on eBay at http://www.squidoo.com/ebayriches. You might want to check it out when you're free. :) Posted September 12, 2007 |
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Jump-Start-Your-Finances
Great info, Skills! I just created a lens on Tax Tips for ebay Sellers which your readers might find useful. Let me know what you think! Posted May 25, 2007 |
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Acne_Medicine
Dear Lens Master, your lens contains very good information. please consider joining my Affiliate Programs and Marketing ideas group. My group visitors will appreciate the information. Tx. Posted May 09, 2007 |
