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How To

How to Sell Products Through Online Auctions

Contributor
By eHow Contributing Writer
(4 Ratings)

Find ready buyers for what you want to sell through the magic of online auctions.

Difficulty: Easy
Instructions

Things You'll Need:

    Setting It Up

  1. Step 1

    Check out various auction sites to find one that suits your needs. Some specialize in specific goods, such as computers or antiques.

  2. Step 2

    Note that seller fees also differ from site to site - sites can charge listing fees, commissions or both.

  3. Step 3

    Register to set up a seller account with the site. This requires information such as your name, address, telephone number and e-mail address.

  4. Step 4

    Specify product quantity and provide descriptions. Add a picture and include details to be competitive and attract more potential buyers. You may want to pay an extra fee to highlight your product listing.

  5. Step 5

    Specify whether you or the buyer will pay for shipping, and whether you'll ship internationally.

  6. Step 6

    List acceptable forms of payment.

  7. Step 7

    Choose an appropriate auction length, which can range from an hour to several days to a couple of weeks.

  8. Step 8

    Set a minimum bid price at which the auction will open. Note that setting this price too high might discourage buyers.

  9. Step 9

    Decide whether you want to set a reserve price (the minimum price that must be met before you'll sell your product). If no bids match or exceed your reserve price, you don't need to sell.

  10. Sealing the Deal

  11. Step 1

    Track your auction using a product number that the auction site provides.

  12. Step 2

    Send an e-mail to the buyer, usually within three business days, and arrange to transfer the goods privately. Confirm the final product and shipping costs, and tell the buyer where and how to send payment.

  13. Step 3

    Send your item when you've received payment.

Tips & Warnings
  • For a fee, an escrow service can facilitate smooth transactions. The buyer sends payment to the escrow service, which holds it until the buyer has received the product. The service then forwards the payment to you, the seller.
  • If you haven't managed to sell your product, try re-listing it with a more complete description or lower minimum or reserve bids.
  • Check for negative feedback on a buyer's user ID to see if he or she has reneged on previous deals. Auction sites generally run on an honor system, with opportunities to post comments about the integrity of buyers and sellers.
  • If you back out of selling an item, the buyer can post negative feedback about you.
  • Manipulating prices by bidding for your own product is forbidden.

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