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As previously mentioned eBay has a unique feedback system, allowing buyers and sellers to post comments and feedback on their recent auction experience. Each transaction allows you to give a single rating to your trading partner – positive, negative, or neutral. You may also make comments (no foul language, abuse, racial comments, etc are allowed). Each user has a feedback score that serves as an indicator of their quality as buyers and sellers. It is effectively your online reputation. The more positive feedback you get, the higher your score, which also eventually is visually identifiable with a star system so experienced eBayers can tell something about you at a glance. Negative feedback lowers your score. There is also a running percentage of positive feedbacks. Some sellers will not allow buyers below a certain feedback level, as most fraud is committed by new, or fake, buyers who will generally have little or negative feedback ratings. |
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Currently eBay offers buyers protection. Online payment service users, such as PayPal are assured aBuyer Protection shield covered up to $500 (subject to change) at no additional cost. For users who are not using PayPal as their mode of transaction there is the eBay Standard Purchase Protection Program which provides up to $200 coverage (less $25 processing cost) for either items that are not received or items that are not as described in the listing. The resolution process can be slow and on many transactions that fee makes it not worth doing, so it is better to caveat emptor up front than hope to get money back on a bad deal later.
There are a number of ways eBay works to minimize fraud, some of which are automatic. The website feature of eBay allows the users to keep a constant track of which sites they visit. Whenever a user leaves eBay by clicking on a link, or when are transacting on PayPal, the system warns them of potential frauds. In addition, eBay helps users prevent and combat fraud by conducting online tutorials on fraud emails – such as those requesting personal or financial data no legitimate company would request – and educating members on how to report such issues to the eBay authorities.
Registration on eBay is absolutely free – it is also free to bid and buy, they make their money on sellers and advertising – and it only takes about five minutes to open an account. There are three requirements for registration.
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You must be 18 years old.
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You must provide valid credit card number. There is no cost for browsing on eBay listings, yet to participate in any way requires a number. Buyers pay nothing to the auction sites and the credit card is used for security purposes mainly. Charges are applicable only for sellers.
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You must have a valid e-mail address.
You’ll select a username and password.
Upon completing the registration process, you will be asked if you want a personal page. Whether you should have one is a matter of personal preference, style, and whether the kinds of auctions you are thinking about will benefit from it. Most people on eBay opt not to have the page, but there is some evidence sellers who do have it, sell more.
On browsing eBay categories, you will see that very few people take advantage of this option. Privacy seems to be a crucial issue to many and this complimentary page is viewed as a contradictory idea. You can use this personal page as an excellent marketing tool as it is for free. EBay urges its trading community to check feedback, to check the reputation of the seller and this is where this page may prove to be an immense help to you. When you auction your products or services, the buyers are most likely to visit your page to see a little more about you. It is a great opportunity to build trust.
The best kind of information reinforces your expertise. Perhaps you sell cars, own a garage and can personally verify the condition of everything you sell. Or you teach classes on pottery and ceramics, which you also auction. Finally, showcase the items you have successfully sold in the past using eBay auctions. It is also a good idea to take feedback from buyers and post their experiences and testimonials upon delivery of merchandise. This is especially useful if you have “newbie” buyers who may not know how, or where, to look for the feedback ratings.
If you’ve ever thought about starting a sales-oriented business, now is the time and eBay is the place. Here’s why.
You can sell to anyone connected to the Internet.
Your geographic location does not need to be fixed.
Like many other Internet businesses, with auctions geography has become irrelevant. You really can live anywhere you want as long as you can manage your auctions and fulfillment from there. For some successful eBayers, that “dream” home that was too far to commute to work is suddenly doable – since their commute is now downstairs every day and to the Post Office twice a week!
Your computer is the only “employee” you need.
You can choose to start part-time, or any time you want to.
You can “quit” without penalty.
Starting most businesses requires a lot of time. Not eBay. You can work on eBay for one hour one time, for a few hours a day, or a few days a week. It is the best part-time business you can have with your full time job or other business. There is almost no “barrier to entry” and the risks of “trying” online auctions are basically none. That cannot be said for almost any other mode of start-up.
You can research in advance.
There are no feelings of rejection.
Selling is a challenge. Aside from the complexities of doing it is the emotional aspect of rejection – any salesman will tell you hearing “no” (or worse) all day long can be very depressing. With online auctions, this is all removed. First, you can do historical and current research and see what the current buying and selling trends are like for your products. Second, except for occasional emails, you are never in contact with your prospects until they choose to buy – so there is no rejection possible.
You can buy and sell your merchandise in the same “place.”
Which is what the next section is all about.
Next: Buying strategies
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