How to Pick an Online Auction Site to Sell On

If you are looking to start an online auction business, or want to diversify your auction business by adding new venues, there are many online auction sites to pick from.

Difficulty: Moderately Easy

Instructions

1. Decide what you intend to sell in your online auction business. Some auction sites specialize in particular types of merchandise, while others offer a wide range of categories.

2. Browse the auctions to see how many items are listed in the categories you sell in. See if those items are getting bids.

3. Read the "Fees" section of the auction sites to determine how much each site charges sellers. Pay attention to both fees that are charged for listings, and fees that are charged when an item sells. Compare fees among several different auction sites.

4. Use online resources, such as Consumer Reports, to get reviews and opinions of the auction site from people who are already selling there.

Tips & Warnings

• When you first start selling on online auctions, it is best to start with one auction site until you learn the business. As your auction business grows it is a good idea to add other auction sites. Diversifying to use several different auction sites protects your business should one site go out of business, or make changes to their fees or policies that you do not like.

Resources

• Consumer Reports