Small Business Resource Power Point Series 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. 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.
Increased Profitability 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 eBay Auctions www.ebay.com Yahoo Auctions www.yahoo.com QXL Auctions www.qxl.com PayPal Credit Card US$ www.paypal.com Nochex Debit Card UK£ www.nochex.com
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Reasons to join To get more PowerPoints like these To get free downloads To get discounts on our services To get access to our resource centre Many other Powerpoints in this series in the members area