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How to Avoid Failure on Your eBay Auctions
from: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.
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Online Business Auction News
'Online business is transparent' (Zawya)
Dubai: Tejari.com, a pioneer online marketplace in the region, seeks to become the world's largest business-to-business online portal, said Omar Hijazi, chief executive of Tejari.com, who has taken the company to new heights since taking control in 2005.
Read more...Microsoft buys ciao.com to boost e-shopping search (Reuters via Yahoo! News)
Microsoft has agreed to buy Greenfield Online, owner of popular European price comparison website ciao.com, for about $486 million to boost its Internet search and e-commerce business in Europe.
Read more...Real estate auction business started by LA Times Media (Turks.US)
In New York, Los Angeles Times Media Group, a Tribune Co. unit that owns the Los Angeles Times stated last Monday that they will start a real estate auction business for distressed real estate.
Read more...LA Times Media starts real estate auction business (AP via Yahoo! Finance)
Los Angeles Times Media Group, a Tribune Co. unit that owns the Los Angeles Times, said Monday it started a business that will auction distressed real estate.
Read more...Wine auction kicks off (Sonoma Index-Tribune)
SUZY FRIDELL directs the ladies of Magnum Force as they prepare for their skit at the Harvest Wine Auction this Sunday. Robbi Pengelly/Index-Tribune This year the tag-line for the Sonoma Wine Country Weekend says it all: "Three days, 200 wineries and chefs, one unforgettable Sonoma experience."
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