Increase Your PROFIT Margin

eBay Auction Tips

Many people make inquiries regarding how to profit on eBay. Much of the research is based on individual assessments of people who are in the business of selling goods on auction sites. This is truly the case for my auction business. My research comes from hard work through straight up trial and error methods. During the 6 years that I've been selling on sites such as eBay, I've established a great track record of increasing my profit margin. In the following steps, you will venture into my recommended list of steps that you MUST establish in order to increase your bottom line.

• Research the item you are going to list: Surf through eBay, Amazon, Overstock and others to see what similar items are selling for.
• Start at a LOW bid: Not only do these bids cost less but they also will motivate individuals to bid. It is the thrill of the hunt that often times gets people to bid. Once they buy-in to the product, they are connected to the sale. Generating a "want" is a good emotional selling tactic. I do NOT recommend using the reserve and have NEVER used it myself.
• The day of the week to begin your listings are Thursday afternoons and evenings. It is important to try to run 10 day listings. Attempt to get your auctions to end on Sunday evenings - this allows two weekends to increase the potential for bidding.
• Delivery confirmation is imperative. Utilizing this practice promotes faith and trust.
• Give a money-back guarantee only if the item was not as described in the listing.
• Be careful with your auction title. This means knowing your audience.
• Script a good description listing not only the strengths of an item but also the flaws of an item.
• Emphasize the important parts to your auction by using highlighting or bold text.
• Be persistent and refuse business to customers who have negative feedback. This will save you pain and heartache in the future.
• Be friendly and easy-going. Remember that you rule your business, so don't get too bent out of shape over things that you can control.

Again, I've been using these techniques for quite sometime now and they have worked. I have generated a great business on eBay and other auction sites. Sometimes you must think outside of the box in order to reap the benefits and rewards that auctioning can give you.