Online Auction Will Help You Make Extra Income...
What’s Online Auction?
Auction as we knew it is the buying and selling of
item to the highest bidder. This was the brick and mortar auction. It was the preserve of the rich and
famous. The average person heard about it in the news
when one of the rich and famous paid a ridiculously high price for an item.
Online auction is on the internet.
The rules and players are a little different from
what we knew.
These days it is not surprising to hear about people
quitting their jobs to be involved in internet/online auction full time. And some of these people are making six figure income doing it.
For those looking for extra income, there is no need
to quit your job to do this full time. You can do online auction part time and still make decent money
The most logical question is, how do you find things for online auction? The answer for most beginners is your
garage, attic, basement. You have things that are
collecting dust in these places because you no longer
use them. You will be surprised at the number of people in the global community that want those things.
I will not discuss how to auction on this site. This
is because I have a free e-book (
that does a better job of it than I can. When you see something good, why re-invent the wheel:-)
The e-book, Make Your Net Auction Sell has become a Master Copy for those looking to get into the auction business. Like I said, it’s free. Just click the Download E-Book link above to download it.
Note that if you already signed up for the newsletter,
you may already get this e-book. So no need to download it again.
Instead I will discuss the best places to do online
auction. And they are…
Online or web auction starts with Ebay. They are Numero Uno! The Big Kahuna! The Granddaddy of online auction!
Gee! You would think I own Ebay with the kind
of rave review I just gave them:-)
But seriously, millions and millions of internet
surfers worldwide visit the Ebay website everyday
to bid and sell auction items. Some people credit
Ebay with starting online auction craze.
Ebay has thousands of item categories. You will
need to pick the one that best fits what you are
selling or bidding on.
But first you must register with Ebay. The registration is free, simple, and straight forward. You will be required to create a username and password. And don’t forget to confirm your registration. This is done through a confirmation e-mail they will send you after you register.
It is important to know that Ebay charges a listing fee (insertion fee) for you to sell items. The price varies by item, your minimum bid, and
number of listing days. You need to use the fee
to figure out your ROI. Of course, you lose it if
your item does not sell.
They also charge commission when you sell that also
varies. As of this writing, the commission percent
varies from 1.5% to 5%. Keep this in mind in your
ROI calculation also.
Click the above link to register with Ebay.
2. Yahoo! Auctions:
Yahoo could not ignore the auction craze and Ebay’s
success. Yahoo is already one of the most trafficked
websites on the internet. So they figured let’s give
our visitors access to the latest craze and profit
Yahoo charges listing and final value fee. The listing fee goes from $0.05 to $0.75 depending on
your list price. The final value fee (the fee you
pay after your item sells) is from 2% to 3% depending on what your item sells for.
For example, if you have item listed with a
starting bid of $5.00. Your listing fee is $0.05.
If the item sells for $10.00, your final value is $0.20.
The total charge for your item will be:
$0.05 + $0.20 = $0.25.
The above should help guide your Return On Investment
calculation. Clink the above link to check out Yahoo! Auction. When you get to Yahoo.com, click on Auctions.
There are specialized auction websites. StampFair
is one of those sites. It primary deals with stamps and other collectibles, like coins.
StampFair does not charge you to list with them.
They charge you a 5% final value fee after your
item sells. So if you don’t sell, your cost is
Another thing good about StampFair is that there
is no re-listing fee. You can keep listing with
them until your item sells.
Click the above link to check them out.
This is the auction website for movie buffs. It is run by Newline Cinema. They basicallyauction their movie memorabilia to people whoare into the Hollywood craze.
Most of the buyers at AuctionNewline arecollectors. But there is nothing that says you can’t buy from AuctionNewline and sell at other auction sites. You stand to make a handsome profit when you get the buyers who got to have these things.
There is one good thing about doing businesswith AuctionNewline. They donate some of theirproceeds to charities, like Legal Aid, Meals onWheels, etc.
Click the above link to join them.
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