Raven's Work From Home Resources
The Wonders of Online Auctions
The Wonders of Online Auctions
Do not think of this as a retail outlet, though it could become that easily enough if you are good enough. Think of it as a glorified yard sale. It is not difficult and it doesn't require any special skills other than a good picture and accurate description. Most online auctions advertise the whole site, so you really need not do any special marketing unless the auction site you have chosen is not well known.
What you need to supply the customer is clear, accurate and enticing information about the product you are offering for sale. You also need to study the format of the auction site and the auction site's "culture" in order to determine whether you should list a product there. You will follow whatever procedures the site requires to register. With EBay, this means having a valid checking account or credit card.
Once you have established accounts with any auction sites, you will need to decide what you are going to sell and to whom you wish to sell it. Where are you going to get your items? The answers to these questions will determine what you will auction on which sites. Ebay has a wide consumer base, so you probably could sell just about anything there, however they require a deposit upon listing and then take a percentage of your sale as a commission. Other sites do not require that, but are usually specialized. You are not likely to sell your used golf clubs on "Gothic Auctions" but if you could find an auction site for used sporting equipment, you will be fine. If you are going to be getting items from a wholesaler and drop ship them to your customer you will be able to choose items for each site based on the target audience.
Then you will need to decide how you are going to present the items you have for sale. "Used floor length gown" is not as exciting as "Luxurious floor length crushed velvet gown, used only once, loved forever." Whatever you say it has to be honest. Customers chat amongst themselves. Besides issues of conscience, you need not acquire a bad reputation, it will hurt business. It also should come from the inside you. You have to believe in what you are selling. If you sell quality goods and are proud of your business you will be able to present your merchandise in an appealing, heart-felt way.
You should also make sure that the customers you are trying to reach can actually use your product. While you have heard stories of the marketers who can sell ice cubes in the Antarctic, you shouldn't have to contort yourself that way. If you are selling on a site for sports enthusiasts, then most likely they can purchase the spare golf clubs or the wonderful volleyball net repair kit because they could have the original product. I would not assume that on a site geared towards "nerds" or "fantasy art." Likewise, I would not assume that a person has the hardware for the highly specialised stereo system you are selling if you are selling on a site targeted towards the elderly. Again, Ebay would be a safe option in all cases.
For each auction site the you have joined, brainstorm products that the target customer may wish to purchase which are normally not in abundance on the site. To do this you may want to watch for a while before you place your ads. You also need to know some interests or hobbies that are relevant to your goods. For instance, a homemade computer game can be listed under computers, gaming, children, entertainment, etc. Make sure to think about every place your target market could search for your product and list it under those categories. Some auction sites will only have a few categories, Ebay has about a thousand. If the amount of categories you discover for your product numbers more than what is available to you, determine which ones are more popular amongst those who purchase at the site. Remember, it takes about 10 refusals before you get a bid, so if that section of the site is not being visited you will not get a bid there.
You will need to determine a way to track your auctions. You can do this any way you desire. You can develop a spreadsheet on your computer or use software specially designed for auctions. What you use is determined by the size of your enterprise. If you are only listing five items at a time, it's easier to pencil whip it and a whole lot cheaper. If you plan to place 100 ads, you may not find that system very effective. You need to be able to see at a glance which items you have listed, upon which sites they are listed, what cost it was to you, if any, and what the highest bid was. You need to know if you have received payment, when the item was mailed out and what communications have taken place between you and your customers. Remember you must have all of this information for tax purposes as well.
Any decent auction requires a picture. Make sure it is clear and include as many angles as necessary so that the customer sees the item is in good condition. You can use just about any picture file; upload it into the site with the software available there. If you follow the directions, the pictures will be listed with no problems.
You need to determine exactly how you want to approach your auction business. Is this a way to get a few bucks to take the family out for pizza or are you getting a business license and planning on buying products wholesale for sale on the auction site? This will determine how much time you want to put into it and how widely you want to market. What you sell also determines how you approach it. You could be selling homemade quilts at a very low profit, but in volume, or you could be selling a few snowmobiles at a large profit. Because most customers only want to buy a couple small items, it can be equally profitable to keep a small profit margin and list a large volume of items.
Make sure you know what types of items are allowed to be sold on each auction site. Ebay for instance, does not allow adult material or information to be sold. Good luck.
