June 28, 2007

Get the Most Out of Your Auction Site Business

If you are a small business or an individual looking to make a few bucks on the side selling items on auction sites, here are some great tips on getting the most out of your listings and items that are sold.

Many people dont realize that when selling items on auction sites it must be run like a business. Just because you are only selling a few items each day or week, you can make a lot more money by keeping your costs down and your enterprise automated.

One of the most important factors to consider is to understand how auctions work. Take a look at the auction site that you want to sell on and understand how the fees work. Not only are you charged for listing an item but once that item is sold you are also charged a final value fee. It is also important to factor in shipping fees. Many people dont realize that for some items it can cost lots of money to ship it across the US. Factor in all your costs before listing your item for sale. Make sure that you are making a healthy profit before selling on auction sites.

If you start selling lots of items each week, make sure that you have automated software so that you can easily list items; process the payments of the items and ship items out. Time is money and you can spend lots of time writing labels and contacting customers that bought your items. There are plenty of software options available for every aspect of your business, check out the tools that will fit your business best.

Make sure you protect your investment by having a clear and concise refund or exchange agreement. It is also important that you only accept certain types of payments such as a money order or Paypal so that you dont get scammed. So if you are selling on auction sites, check out the above tips on getting the most out of your auction site business