 |
 |
| Credit Answers > Debt-Management-Articles-2010 > Online Auctions |
|
|
| |
As the spring season begins to blossom, you might engage in a spring cleaning ritual. You decide to clean your attic, organize closets, and make more space in your garage. After you
finish this project, you realize that you have a heap of unwanted and unused items.
You wish you could sell these belongings by placing classified ads or having a garage sale. Depositing that extra money into your reserve account will help you settle your debts much quicker. Yet, you do not
want to pay hefty advertising costs or have strangers roaming all around your property.
In order to unload all of your things, you may want to consider online auctions, a selling tool of the new millennium. Some popular auction sites are
eBay (www.eBay.com), Yahoo Auctions (www.auctions.yahoo.com), and uBid
(www.uBid.com).
Steve Kemerer of North Huntingdon, PA started selling personal items on eBay in February 1999. Shortly afterwards, he decided to launch a small online business and sell glow bracelets via eBay.
"It is cheaper to list on eBay rather than place an ad in the local paper, simply because you reach millions of people worldwide," said Kemerer.
This online expedition only requires an Internet connection and basic navigation skills; a scanner or digital camera; and stuff to sell which you already have. Before you begin to list items, carefully
review the policies, fees, and procedures of the online site. Here are a few tips to keep in mind when posting your product:
Research Price.
As you decide on a starting price, search for similar products on the site so you can set a comparable rate.
Describe Items In Detail.
Write thorough and accurate descriptions of the items that you plan to sell. Be honest about the condition and flaws in the product. Remember to use keywords that you think people will type in the search
field to find your product.
Post A Picture Of Your Item.
Most people are reluctant to spend money on something they are not able to see.
Educate Yourself On Various Shipping Methods.
Become familiar with shipping companies such as Federal Express and UPS. If you plan on selling many items via online auctions, Kemerer recommends investing in a mailing scale to help you calculate shipping
costs.
As far as payment is concerned, Kemerer encourages buyers and sellers to use secure auction payment sites, like eBay's PayPal. This site keeps all personal financial information secure for both parties.
Also, Paypal protects sellers against certain types of fraudulent transactions.
Some online auction sites such as eBay give buyers and sellers ratings and the opportunity to leave feedback. Take advantage of this feature so you can discover if a buyer has a dishonest bidding history.
Read comments from other sellers and be wary if a buyer has ever bid on an item and not paid for it or engaged in other unscrupulous activities.
"My worst eBay experience was when I received a chargeback on my credit card because a buyer used a stolen credit card to place an order with me," Kemerer stated.
It is also important for you to maintain a credible online reputation as a seller. Therefore, be certain to write accurate descriptions and ship items in a timely manner so buyers will leave you positive
feedback.
"My online reputation was very important to me because people are ordering from you 'sight unseen.' They do not have any way of knowing how reputable you are unless you have some way of assuring them that
others are satisfied with the service they received from you," Kemerer explained.
Although online auction sites serve as a great way to sell unwanted items and earn extra cash, they also can tempt you to spend money and make unnecessary purchases. Resist the urge to type in keywords for
your favorite products. A few mouse clicks might cause you to spend more money than you received from the sale of your items.
Good luck on your online selling experience. We wish you many high bids! You deserve some extra cash to put toward your debt settlement savings and some peace of mind for your spring cleaning mission.
|
|
|
|
|
Get Debt Relief Now!
For a free consultation call 1-800-297-6417 or start by filling in the form below and one of our specialists will contact you. We are here to help you 24 hours a day.
|
|
 |
|
|
