eBay Gold

Internet auctions are relatively new having been around since the mid 1990's. There are several Internet auctions including Yahoo Auctions and UBid. But of course the undisputed king of Internet auctions is Ebay. Ebay has over 100 million registered users making it one of the top 10 most visited websites in the world.

I discovered Ebay way back in 1998. At first, I was strictly a buyer. I was amazed at the thousands of items that could be found on Ebay. Just about anything you can imagine can be found on Ebay. And there were more incredible bargains to be found than at any other ecommerce website or brick and mortar store I had ever visited. After about six months or so of buying, I began selling items on Ebay. I had an extensive collection of unbuilt as well as built plastic model cars. I began placing the models on Ebay with starting bids of $5.00 and no reserve. To my surprise, people started jumping all over these model kits. Some of them sold for as high as $70.00. It was at this time that I realized the enormous money making potential of Ebay. The key to being a successful seller on Ebay is selling items that people want. There are a number of ebooks on Internet auctions that tell of the importance of a great headline and a killer ad for your auction. While this is true, it is also important to remember that the best ad in the world will never sell an item that no one wants. The items that do well on Ebay are unique or interesting items. Antiques, pottery, collectables and high-end apparel are just a few of the items that will bring high bids on Ebay. If you can easily find the item at Wal-Mart, chances are it will not do well on Ebay.

There are a number of wholesalers around the country that you can buy merchandise from to sell on Ebay. But before you buy, do your homework. It's very tempting to buy a bunch of electronic widgets that sell for $2.00 a piece. You might think you can buy 20 of the $2.00 widgets and then sell them for $12.00 a piece on Ebay and make a killing. Unfortunately, you discover that no one is bidding on your widgets despite the fact that you have started the bidding at a mere $6.00. In fact, there are very few people that are even viewing your auctions. The end result is you are now stuck with 20 widgets that no one wants. The first mistake here was not doing a search of widgets on Ebay to find out if they're hot or not. The second mistake was trying to sell an electronic item. Yes, I know there is a huge market for electronic gadgets. That's the problem; the market is too huge. It is already saturated. How many times a day are you bombarded with offers for the latest and greatest cell phone or digital camera? If you try to sell in this market on Ebay, you're encroaching on Best Buy's turf, which means you'll be smashed like a bug. On the other hand, how many offers do you receive for NASCAR collectibles or Gucci shoes? Or how about die cast models? These are the hot items on Ebay. These are in demand items and more importantly you can sell these items without competing against Wal-Mart and Best Buy.

If you're new to Ebay, the first thing you need to do is to build positive feedback. Feedback is vital to your success on Ebay. Potential buyers will read your feedback in order to determine if you're an honest seller. If you have high numbers of negative feedback, many buyers will look elsewhere. Take a look at some of the Ebay Power Sellers feedback. Many of them have feedback in the thousands with a rating of over 99% positive. It's no secret how these Power Sellers became successful on Ebay. They take care of their customers. This means they'll have plenty of repeat business.

When you first sign up with Ebay, you'll have zero feedback. Most buyers will shy away from an Ebay newbie with zero or very low feedback. Start building your feedback rating by selling personal items from around the house that you no longer want. This is a good way to get the feel of using Ebay and to build positive feedback. You should invest in a good digital camera. Good clear pictures are an important selling feature on Ebay. Remember to describe your items accurately and honestly. Do not try to trick or deceive buyers in any way. You can't afford receiving negative feedback this early in the game.

I came across a perfect example of a deceptive seller on Ebay a while back. The seller had sold a pair of slightly used shocks for a 2003 Chevy pickup. He used Ebay's Buy-It-Now feature to sell the shocks for just one cent. Wow! What an incredible deal! But wait a minute. The unwary buyer forgot to read the entire auction. The shipping charges were a whopping 60 bucks! The result was a pissed off buyer and negative feedback for the seller. This was an obvious attempt on the part of the seller to make money on the shipping costs. He was banking on the fact that the buyer would not read the entire auction and would simply assume the shipping charges would be reasonable. Do not use deception in your auctions or try to make money on shipping costs. If you treat your customers the way you expect to be treated you will never go wrong and you'll be well on your way to building a reputation as an honest top-notch seller.

If you happen to get a few non-paying bidders, resist the temptation to leave negative feedback for these individuals. Leaving negative feedback will only result in possible retaliation by the non-paying bidder and negative feedback for you. Once again, you do not want any negative feedback this early in the game. Buying items off of Ebay is another great way to build positive feedback. When you win an auction, pay for the item promptly. The result will be positive feedback for you. Most buyers will not care whether your feedback came as a result of buying or selling as long as it's positive.

After you've built a feedback rating of least 25, you'll be ready to start purchasing wholesale merchandise to sell on Ebay. Remember what I said about doing your homework before buying merchandise. If you have your eye on a particular item you think might sell on Ebay, first do a search of that item on Ebay to find out what people are bidding if anything on the item. If it looks hot, at least 7 or 8 bids, then it's probably a good bet. If it doesn't appear to be getting many bids, you should steer clear. You can also do an advanced search for auctions that have already ended. It's a great way to find out the final bid price for a particular item. A few extra minutes of research can save you from a giant headache down the road.

About The Author

Are You Tired of the scams and the get-rich-quick schemes? Greg Hayes is founding editor of http://www.mammothprofits.com/. Mammothprofits is the website devoted to helping others filter out the scams and become successful in a home based business.

[email protected]

In The News:

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Fake bids drive up prices on popular site Auction Nation, Republic finds  AZCentralThe Arizona Republic analyzed auctions during a 60-day period and identified an unusual pattern of bidding by accounts linked to nonworking email addresses.
David Gilmour puts his guitars up for auction, raises $21.5M for a climate change charity  USA TODAYAn auction of David Gilmour's guitars has raised a lot of “Money” — to combat climate change.
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Melbourne leads auction results  Your Investment PropertyCombined capital cities across the country recorded 1,480 homes taken to auction during the week — down from 1,505 homes that went under the hammer in ...
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Gold Muzzle Auction A Raging Success  Greyhound recorderExceptional. That was the word used to describe the inaugural Gold Muzzle Auction at Richmond on Sunday, as 103 greyhounds went through the sale ring.
Steel industry protests extending iron ore mine licences, demand auction  LivemintWinning iron ore mines via auctions will be a relief for steelmakers.Steelmakers are forced to import costlier ore in the absence of captive mines.
Property owners rely on auctions instead of agents - Business News  The Star OnlinePETALING JAYA: Property owners are auctioning their real estate amid a weak secondary market instead of relying on agents, according to auction houses.
Govt re-auctions 7 luxury cars of Nirav Modi, sale of 5 fetch Rs 2.9 crore  Business TodayGovernment-owned Metal Scrap Trading Corporation (MSTC) raised Rs 2.9 crore by re-auctioning five of fugitive diamantaire Nirav Modi's seven luxury cars on ...
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Babe Ruth's jersey sold at auction for a record-breaking $5.6 million  CNNIt's the most expensive piece of sports memorabilia ever sold.
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Hey, Moe: Three Stooges Items From the Howard Family Are Coming to Auction  Mental FlossFor decades, Moses Horwitz—better known as Moe Howard—acted as the ringmaster for the Three Stooges, a revolving cast of comic actors specializing in ...
Odisha readies 40 mineral blocks for auction; panel to decide on modalities  Business StandardRead more about Odisha readies 40 mineral blocks for auction; panel to decide on modalities on Business Standard. The blocks to be offered for auctions are a ...
What to expect from the 5G spectrum auction this year  LivemintThe Department of Telecommunications (DoT) has asked the Telecom Regulatory Authority of India (Trai) to consider auctioning more spectrum for 5G services ...
Miners want in-principle approvals before auctions of mineral blocks  Business StandardRead more about Miners want in-principle approvals before auctions of mineral blocks on Business Standard. Delay in securing environment & forest ...
India Auctions 1.2 Gigawatts Of Solar PV At 3.66¢/kWh  CleanTechnicaJune 18th, 2019 by Saurabh. The fourth national-level solar power auction conducted by the Solar Energy Corporation of India (SECI) has yielded satisfactory ...
FCC names winners of $2.7 billion 24-28GHz millimeter wave auctions  VentureBeatSix months after the FCC started the bidding process for U.S. millimeter wave spectrum, the winners of the $2.7 billion auction have finally been revealed.
ESMA to address regulatory concerns over Frequent Batch Auctions  EU NewsThe European Securities and Markets Authority (ESMA) has today published its Final Report on Frequent batch auctions (FBAs). ESMA identified four main ...
Christie's to auction Mughal collection, 'the best quality of Indian jewellery ever seen'  Forbes IndiaRahul Kadakia, Christie's international head of jewellery and senior vice president, talks about the June sale of jewellery and artefacts from India, and why it took ...
Guinness-Record Organic Whisky Available At Hong Kong Auction  ForbesInternational auction house Spink will sell a full cask of rare organic Springbank Scotch whisky tomorrow.
Tariff Caps are Slowing Down Solar Auction Activity  Mercom IndiaThe solar market in India is extremely competitive. Reverse auctions have driven tariffs lower and lower, and developers are fighting for every penny to ...
Mexico to kick-off first private renewables auction this week  pv magazine InternationalAlthough it is unclear how much generation capacity will be contracted, several projects submitted for the subsequently cancelled fourth government renewables ...
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Turkey Unveils New Fix for Boosting Demand in Bond Auctions  BloombergTurkey's central bank is introducing a new and cheaper liquidity facility for lenders in the latest effort to support the country's battered markets.
Princess Diana's Dresses Fetch Roughly $330,000 at Auction  TownandCountrymag.comOn Monday, Kerry Taylor Auctions put three of Princess Diana's iconic ensembles up for sale—and ended up raking in roughly $330000, nearly three times what ...
Princess Diana's Bahrain outfit sells at auction  Arab NewsDUBAI: A dress worn by Princess Diana during her visit to Gulf states in 1986 fetched $135000 at an auction last week. Sold as part of a trio of outfits at for a ...
Auction Houses Wright and Rago to Merge -  ARTnewsWright, an auction house specializing in design that is based in Chicago and New York, has announced plans to merge with the New Jersey–based auction ...
Record-high auction of royal Indian jewels totals $109 million  LivemintNEW YORK: An auction of royal Indian jewellery at Christie's here has totalled almost $109 million, with a jade-hilted dagger of Mughal emperor Shah Jahan, ...
A New York teacher made black students act as slaves in mock auctions  CNNAn investigation by the state attorney general's office found that the reenactment had a "profoundly negative effect" on all of the students present, especially the ...
Still for sale: No buyers in Follansbee school auction  The Daily TimesFOLLANSBEE — The Brooke County Board of Education hosted an auction to sell the former Follansbee Middle School Monday, but there were no takers.
Gallery: Diverse tractor auction pulls in the punters from home and abroad - Farming Independent  Independent.ieA diverse spread of both modern and vintage tractors came up for auction in Naas recently under the auspices of Irish Machinery Auctions (IMA). Dean Reid is ...
Olivia Newton-John’s leather Grease jacket up for auction  The West AustralianThe famous jacket and skin-tight pants are among a huge collection of Olivia Newton-John's possessions up for auction.
Pink Floyd’s Gilmour auctions guitars for green cause  The AustralianNearly 50 years since David Gilmour sang the word Money to the sound of ringing cash registers on Pink Floyds song of the same name, he has raised a ...
DoT may auction 4G, 5G spectrum by October  Economic TimesThe auction is expected to be Indias largest so far, with 8293.95 MHz of airwaves at an estimated total base price of Rs 5.77 lakh crore expected to go under the ...
Auction giants try new tack to track used cars  Automotive NewsDrones, beacons and devices that plug into OBD-II ports are part of the next wave of technology being used to track the sea of vehicles on Manheim and ADESA ...
Your summer 2019 guide to exhibitions, auctions and art fairs in London  Christie'sFor one week in late June collectors, museum curators and dealers from around the world assemble for Masterpiece London, one of the finest cross-disciplinary ...
Green energy push: SECI Solar auctions witness intense aggression by developers, tariff of Rs 2.54 per unit discovered  The Financial ExpressThough the latest tariff is higher than the all-time low solar rate of Rs 2.44 per unit, it is still lower than the weighted average solar tariff of Rs 2.73/unit discovered ...
Rare Books &c. at Auction This Week  Fine Books & Collections MagazineALDE will sell 224 lots from the library of Jacques Attali on Tuesday, June 25. Some excellent philosophical and literary editions to be had, including ...
Hypercar Collection Worth $13M Seized By European Authorities Headed to Auction  The DriveA stunning collection of low-mileage hypercars valued at almost $13 million has just been listed for sale by Bonhams and will go to auction in Geneva, ...
Important Judaea Capta Coinage Offered in Stack's Bowers August ANA Auction  CoinWeekBy Jeremy Bostwick – Senior Numismatist & Cataloger, Stack's Bowers …… This week's featured ancient coin highlight from our Official Auction of the ANA ...
This French-Inspired Mansion In Dallas Will Be Sold At Auction With No Reserve  ForbesA French-Inspired mansion in the Preston Hollow neighborhood of Dallas Texas will be sold at auction by Elite Auctions with no reserve on July 20 2019.
Auction of Treasury Bills on 27 June 2019 Copenhagen Stock Exchange:DKSTAT  GlobeNewswireThe treasury bills for sale have the following stock exchange codes: Name, Stock exchange code, Maturity. SKBV 19 / III, 98-17108, 3 September 2019. SKBV 19 ...
Auction results strongest in more than a year  The Australian Financial ReviewThe housing market surged back to life in the first big auction weekend since the Reserve Bank cut the cash rate to a record low of 1.25 per cent.
Hermès Birkin rakes in over $2 mn at auction to become second most expensive handbag  Economic TimesThe title for the most expensive bag is also held by Hermes.
The Western world’s auction-house duopoly is now in private hands  The EconomistFOR THE 0.1%, building a legacy long involved amassing million-dollar artworks and bankrolling those who create them. Today billionaires also buy auction ...
Artist auctions off a virus-ridden laptop for $1 million  MashableThe piece, by artist Guo O Dong, is titled "The Persistence of Chaos," and the name is apt because the laptop could wreak some serious havoc.
Beacon Hill property expected to sell via auction  Cody EnterpriseMuch of the Cody School District's property on Beacon Hill is set to be auctioned off to the highest bidder.
EU approves Italy's auction scheme for renewables  pv magazine InternationalThe €5.4 billion program is expected to spur new growth in large scale PV while also providing incentives for rooftop systems. Originally scheduled for January, ...
Obama’s #23 Punahou basketball jersey soon to be up for auction  Hawaii News NowHONOLULU, Hawaii (HawaiiNewsNow) -A Punahou basketball jersey worn by Former President Obama will soon hit the auction block. The number 23 jersey ...
Oregon Ranch With Own Airstrip in a National Forest Heads to Auction  Mansion GlobalKnown as Illahee Ranch, the estate spans more than 77 acres in the middle of the Umpqua National Forest and will be going under the hammer live at the ranch ...
Stack's Bowers to Showcase the Famous 1894-S Dime at ANA World's Fair of Money Auction  CoinWeekOf all great American coin rarities, the 1894-S dime stands high in the front rank. The appearance of one in the marketplace is always a cause for.
UK gilt prices fall after weak demand at auction  NasdaqLONDON, June 25- British government bond prices fell on Tuesday after the weakest demand at a gilt auction since late 2018.. The Debt Management.
The racehorse auction in Prince William's garden where millions change hands  The Guardian'It's called the sport of kings for a reason,' says head of Goffs, which runs the unusual sale before Ascot.
RM Auctions has Toyota Land Cruiser leftovers at the spring Auburn auction - Autoblog  AutoblogThree Toyota Land Cruiser SUVs are still available from the recent RM Auctions Auburn event. They include gas, diesel, manual, automatic, two-door and ...
Coal India e-auction fetches 44% higher prices  Economic TimesIn 2018-19, the state-run miner got premiums of 58-92% in forward and spot markets over the notified price and the average price per tonne of coal hit Rs 2653 ...
Top 10 business headlines: DHFL crisis, Budget 2019, 5G auction, and more  Business StandardDHFL lenders to meet in early July to hammer out a rescue package. Lenders to beleaguered Dewan Housing Finance Corporation (DHFL) will meet in the first ...
10 most expensive cars sold at auction  Autocar IndiaThink a Bugatti Chiron is expensive? Wait till you read about the most expensive cars to be sold at auction. Click for details.
How Auction Houses Are Using Supreme to Maintain Relevancy  HYPEBEASTThe world of auction houses is undergoing a shift. Typically associated with stuffy oak-laden rooms and octogenarian men, they're now embracing a new type of ...
NCLAT dismisses customs dept plea to auction goods of a firm under moratorium period  MoneycontrolThe National Company Law Appellate Tribunal (NCLAT) has dismissed a petition of customs authority seeking auction of confined goods of a company, which is ...
Assets Of Canadian Textile Plant Up For Bid At Auction  Yahoo FinanceMONTREAL , June 25, 2019 /PRNewswire/ -- Tiger Group and International Textile Machinery Sales will begin accepting offers on July 10 for an online auction ...
Massive Erwin Hymer auction set for next month in Cambridge  TheRecord.comCAMBRIDGE — A massive four-day auction of thousands of items that once belonged to Erwin Hymer Group North America is scheduled for next month.
Auction report: Climbing aboard a bargain at on-site sale?  AgrilandWednesday, June 19, saw combine harvesters, tractors and many implements/machines offered for sale at an auction on behalf of Percy Watts & Sons at ...
US Government Auctions Off Palm Beach Home Owned by Former Venezuelan Treasurer Alejandro Andrade  Miami New TimesAfter a former national treasurer of Venezuela pleaded guilty to taking $1 billion in bribes, his illegitimate riches continue to be auctioned off by the U.S. ...

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