Tips on How to Profit from eBay Buy It Now Auction Listings

eBay is an online auction site so it stands to reason that most users will tend to auction off their items aiming to get a high price.

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 people 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 guarantee you will sell an item for a good price is to use a Buy It Now (BIN) listing.

In order to use BINs successfully, you have to get the price right. Too high and it will not sell. Too low and it will be bought almost immediately, probably by a competitor who will relist 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 price as a BIN. If you don't know how much it is worth, try searching 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 Price and then listed my item at the highest price I could find which had sold.

At times, I also added a little more to the price. 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 another bidder.

If you cannot find the item in the completed listings section or it is very rare and you are unsure of the value, list the item with a very high (almost ridiculous) price. 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 price 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 price or auction it off. Too many people do this and lose money. Remember, patience is a virtue.

Instead, list it again but this time add more text to the description telling viewers that you are 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 are prepared to sell for £x.

If the offer is not good enough, reply to the sender and politely refuse but suggest a price you would be willing to sell for.

On the other hand, if you are holding 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 listing. Each time you place it on eBay you are 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 site - http://www.BizOppsUK.com

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Hail to the coif: Lock of George Washington's hair up for auction - NY Daily News  New York Daily NewsI cannot tell a lie, a lock of George Washington's hair is for sale at auction. For over a century, it has been in the possession of Alexander Hamilton's family.
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Thailand to hold auction for 700-MHz spectrum licences in Dec  ReutersBANGKOK, Jan 18 (Reuters) - Thailand plans to hold an auction for seven 700-megahertz (MHz) spectrum licences in December, aiming to roll out 5G services ...
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SEAFOOD AUCTION: Prices from New Bedford Seafood Auctionon January 17  SouthCoastToday.comNEW BEDFORD — The Whaling City Seafood Display Auction handled 74485 pounds of fish, yesterday.Species Pounds PriceLarge Monktails;2607 ...
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Ole Unleashed – Russo and Steele Collector Car Auction  Northeast Valley NewsOle Unleashed” is back! NEVN Senior Audio Producer, Ole Olafson, finally breaks out of the studio again. Listen as Russo and Steele Communications ...
Trinity Hospital Twin City Employee Auxiliary quarter auction postponed  New Philadelphia Times ReporterThe Trinity Hospital Twin City Employee Auxiliary's quarter auction fundraiser, scheduled to be held Jan. 20 at the Tusky Community Center, 212 E. Cherry St., ...
58,000 view catalog for sold out Melissa Gilbert, Timothy Busfield estate auction  Livingston DailyStacy Luoma and her grandmother Arbilla Moore made off with about $515 in personal possessions once belonging to "Little House on the Prairie" star Melissa ...
1855 Trade Dollar Sells for Almost $4 Million at Auction  Barron'sUtah businessman Dell Loy Hansen won the bidding war at Heritage Auctions.
Cincinnati startup featured on Shark Tank now at auction  Cincinnati.comA startup business that opened a pop-up shop in OTR is selling its intellectual property in a sealed-bid auction.
Germany Considering Ways to Exclude Huawei From 5G Auction: Report  NDTVThe German government is actively considering stricter security requirements and other ways to exclude China's Huawei Technologies from a buildout of ...
Someone Is Already Selling Their McLaren Senna  RoadandTrack.comSenna #005 will cross the block at Barrett-Jackson's Scottsdale auction tomorrow. It's expected to sell for $1.4 million.
Collector Classics: Auction week in Arizona  DrivingSCOTTSDALE, AZ. — What's not to love? Seven classic car auctions in the space of one week with thousands of the world's best collector cars going across the ...
Major contracting machinery auction looms large in Co. Roscommon  AgrilandA noteworthy clearance auction - involving a significant fleet of contracting machinery - is scheduled to take place on Saturday, February 2.
Auction open for 2019 Wyo. Game & Fish Commissioners License  Tri-State Livestock NewsCHEYENNE – The Wyoming Game & Fish Commissioners License is now open for bidding and ends Tuesday, March 31, 2019. License is good for elk, deer, ...
Chandaria firm faces Sh6bn bank loans auction  Business DailyKaluworks fights to survive multiple claims by banks and other lenders.
With offers below expectations, Hootsuite abandons auction process  The LogicIn October, the social media software company hired Goldman Sachs to look into what price it could expect to be valued at in the case of its sale to a ...

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