Online Auctions. Benefits of Online Auctions. No start up costs; it’s free to register as a buyer or seller – all you need is a credit card to confirm your identity. Simple user-friendly set up means that you are ready to start selling within minutes.
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Benefits of Online Auctions
No start up costs; it’s free to register as a buyer or seller – all you need is a credit card to confirm your identity.
Simple user-friendly set up means that you are ready to start selling within minutes.
Pre-defined categories make it easy for you to list your product and target it to a ready-made customer base.
Benefits of Online Auctions Cont.
Showcase your products 24/7/365 and make money whilst you sleep!
Expands your local market to an international customer base of millions.
Flexible - work from home, or anywhere with access to a computer.
Benefits of Online Auctions Cont
No risk – payment clears before despatch so there are no bad debts.
Provides a shop window for your products without the need for additional expensive software or merchant account facilities.
No packaging and delivery costs – postage and packaging are paid by the customer.
No overheads other than the cost of your internet connection and, in some auctions, a small fee based on the value of the item sold.
Test market your product pricing.
Increased Profitability Contd.
Clear excess or discontinued products.
Free advertising and increased traffic by including a link to your website.
Make a business out of selling products for other people and charging a commission.
By selling at auction you can sometimes secure a higher price for your product.
Tips for Successful Selling
Describe the goods as fully as possible.
Set a low starting bid to generate more interest.
Set a reserve price to ensure you don’t lose money!
Make sure you list the item in the correct category.
More Tips for Successful Selling
Use a picture to enhance your listing.
Accept as many different forms of payment as possible.
Respond to email promptly and courteously.
Look after your customers.
Useful Web Resources
PayPalCredit Card US$www.paypal.com
NochexDebit Card UK£www.nochex.com