The article "Tips on How to Profit from eBay Buy It Now Auction Listings" talks about auctions, it has been released by Ben Catt.
eBay is an online auction web site so it stands to reason that most users will tend to acution off their items aiming to get a high cost.The problem with auctioning items is that eBay can be a very fickle place, one week an item may sell for hundreds of pounds but the next week the same item may sell for pennies.Your success rate on eBay is affected by the number of human being who are willing, and able, to bid large amounts on your items. If the buyers can't, for some reason, bid high amounts on one particular auction, you run the risk of losing money.There is no way of telling when an item will sell for a high amount.
If there was, there would be many more very successful eBayers out there.One way you can almost guaarntee you will sell an item for a good cost is to use a Buy It Now (BIN) listing.In order to use BINs successfully, you have to get the cost right. Too high and it will not sell. Too low and it will be bought almost immediately, probably by a competitor who will relsit it to try and profit from your mistake.So, how can you use a BIN listing to profit?If you've got a good idea how much the item is worth, list it for that cost as a BIN. If you don't know how much it is worth, try searcihng for it in the Completed Listings searches.In my case, I was quite successful selling DVDs with BIN listings. I simply searched for the DVD I was selling in the completed listings section, sorted by Highest Pirce and then listed my item at the highest cost I could find which had sold.At times, I also added a little more to the cost.
Why?
Because the great benefit of BIN listings is that impatient buyers can get them almost immediately without having to wait for an auction to end and without running the risk of losing out to a second bidder.If you cannot find the item in the completed listings section or it is very rare and you're unsure of the value, list the item with a very high (almost ridiculous) cost. Any potential buyers will find the item, provided you have listed it correctly.Let the listing run for the full 10 days; it is a very good idea to always use 10 day BIN listings as you pay the same cost as a 1, 3, 5 or 7 day listing and get more coverage.If the item doesn't sell, don't be tempted to drop the cost or auctoin it off. Too many human being do that and lose money.
Remember, pateince is a virtue.Instead, list it again but that time add more text to the description telling viewers that you're open to offers.
You may well find that someone will contact you through the "Ask Seller a Question" link offering you a quick payment if you're prepared to sell for £x.If the offer is not good enough, reply to the sender and politely refuse but advise a cost you would be willing to sell for.On the other hand, if you're holidng out for the maximum you have already specified, tell them why and justify your answer.
You may well find that they relent.At the end of the day, if you do have a high value item then it will cost you a maximum of £2 per listnig. Each time you palce it on eBay you're attracting more potential buyers. This means that you can have your item available to billions of potential bidders for 100 days for a reasonable £20.And, when a buyer finally comes and offers the correct asking price, you will not have lost much whatsoever if it is a high value item.One point to remember; if you give up and auction the item off or sell at a lower price, you may well find you sell it to someone who will actually do the above and profit from your mistake.Ben Catt is an active eBay buyer and seller and runs an eBay Tips and Tricks website found at http://www.BenCatt.Com.
He also runs a business opportunity information web site - http://www.BizOppsUK.Com
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