Strategic Internet Marketing - totally free
HOME  |   NEWS  |   BUSINESS TIPS   |   ARTICLES  |   ABOUT US  |  CONTACT US     

The eBay guide to riches

Introduction to Internet Auctions

 

Internet auctions started as a hobby for a few computer people in the San Francisco area to have a “virtual swap meet” and get rid of some things they had, and find some things they wanted. In just ten years, this fun little idea has become a multi-billion-dollar enterprise and a global phenomenon, and amazingly, presents one of the best low-risk opportunities in history to start or grow a business! The potential is unlimited and still growing.  Online auctions generate very high revenues for sellers and often, good deals for buyers, and the transaction costs are usually reasonable (we’ll help you keep them down a little later). The best part about this is that the marketplace is open to everyone. You can read this report today and be selling your old junk on eBay for profit tonight…but selling your old junk is only the beginning.

 

 

Recently, online auctions have been in the news for less optimistic reasons like scams and fraud. For the same reasons eBay enables speed, anonymity and a global marketplace to honest buyers and sellers, it also provides opportunities for the behavior of less honest members of the community, in particular, credit card scams in certain Third World locations. However, there are many millions of auctions every day, and like the majority of any community, the vast majority of these auctions are run fairly and more importantly, they are making the sellers a tremendous amount of money. Where there is opportunity there is risk. We’ll help you understand both, to maximize one and avoid the other.

Let’s get started!

How do online auctions work?

An online auction is just like any traditional auction, fundamentally. Someone (a “seller”) offers something either at a set price, a minimum price, or on open bidding. Others (“bidders”) make offers on the item by stating what they will pay. Upon successful completion there will generally be a “highest bidder,” who has now become the “buyer.”
There is one main difference between eBay and a traditional auction like you might have seen at Christie’s or Sotheby’s: eBay facilitates the auction but never takes possession of the goods, and makes no specific warranties about the item’s quality, the seller or buyer’s honesty, nor does it play any direct role in payments relating to buyer’s and seller’s, but rather, takes fees from buyers whether items are sold, paid for, delivered, or not, and essentially operates as a very complex bulletin board, not a true auction house in most cases. It is the responsibility of the person hosting the auction to deliver the item to the successful winner, while the winner needs to ensure he makes the payment and receives the shipment on time and in the expected condition.

Payment is through a variety of possible methods including checks, money orders, electronic transfer systems, credit cards, wires, and more. Generally the seller in an auction will state what kind of payment is acceptable, and the potential buyer can decide whether to bid with that, and sometimes other, restrictions in mind.

To make it more likely that buyers and sellers will provide quality service to each other and honest goods, a fundamental aspect of eBay and most of its copycat sites is called “feedback.” Feedback is basically a rating system that allows buyers and sellers to see what other buyers and sellers thought about doing business with a particular person/entity in the community.

What’s for sale? Pretty much everything except those categories eBay chooses to limit or ban (such as firearms, certain adult materials, and so on). Auctions are of many types and styles, ranging from items literally priced at 1 cent, to items worth millions of dollars, which will usually involve escrow payments and other special terms. In later sections we’ll look more closely at the kinds of auctions there are today.

First, since you want to make money on eBay, let’s talk about how you give and get that money.

Next: Methods of payment

 

   

Contents

Introduction

1. Methods of payment

2. Getting rich with auctions

3. Key features of eBay

4. Buying strategies

5. Bidding strategies

6. Selling on eBay

7. Marketing on eBay

8. The rest of the story

Review: eBay Secrets

Recommended Resources

 

Need products for eBay?

Do not offer the same as everybody else - as Underdog Marketing member you have full access to the Mega Library of Digital Resources, with hundreds of well-categorized and regularly updated Private Label Rights products.

This means you can easily bundle related products together and offer a unique mix of e-books, software, source code, graphics art, templates and other digital products.

Underdog Marketing


 

3 ways to get rich

1. Play the stock market

With the economic downturn most people lost money... but it's a great opportunity too. Play FREE Wall Street Survivor for cash and prizes.


2. Start an Internet business

REVEALED:
The secret strategies to go from zero to Internet cash MILLIONAIRE!

These regular, everyday people started with nothing (and in some cases even less than that)...

And they're now making over $1,000,000 (yes, that's SIX zeros!) each year!


Harry G.

He turned just $340 into a website that made over $1 MILLION (USD) last year -- selling fireworks!


Mike P.

He made $2.5 MILLION (USD) last year while working at home and taking care of his baby son!


Tracey B.

She made $6 MILLION (USD) last year with her digital camera website in Australia!


Rory M.

He made over $1 MILLION (USD) last year alone -- selling gadgets on his website based out of Ireland!

To learn the EXACT strategies these regular people are using to rake in $1 MILLION+ each year...

Click here NOW!


3. Hit the jackpot

Play Online pokies - the only game to make you rich overnight when you hit the jackpot.

Discover the inside workings of the slot machines, and what to do for a big boost to your winnings.