Auctions article: 6 Secrets To Online Auction Success

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There are literally hundreds of online auction sites across the internet, all seeking to capitalize on the auction buying and selling action. Almost monthly, there is newspaper or television coverage of someone selling something outrageous. You can sell almost anything online. If you are smart and persevere, you can get good results. If you just “put something up,” you can loose your shirt at auction.

The following are some tips to help you get the most from your auction, at any auction site.

1. Keywords. Make your auction visible to searchers by using specific keywords related to your item in your title. Don't just say “Digital Camera,” say “Kodak GS5000 Digital Camera with zoom lens.” Accurately describe your item in the title. People will search the auction titles more than the body text. Use as many of the characters allotted to you in the title—fill it with descriptive words. A descriptive title will draw only those interested in your item, and of course, those are the people you want viewing your auction item. Also use descriptive keywords in your item description.

If you can get more than one auction, try to sell the item using commonly misspelled keywords. Some people mistype the keywords while they are searching; if your item comes up in a misspelled keyword search, it will have much less competition from other auctions. Of course, if you have 2 auctions running, you'd better have two items to sell.

2. Pricing. If you set your opening bid low (say, 99 cents), be sure to set a reserve price nearer to what you want to receive for the item. Low opening bids encourage bidding, and the reserve price guarantees you can receive a fair price for your item. Don't be concerned about shipping costs--that will be added in later, and is a concern mainly for the buyer.

One trick I've noticed in some auctions is to set a low price for the actual item, and make up for it by charging a high shipping and handling fee. I personally think this is deceptive, because I know from experience that shipping something shouldn't cost $20. But some people do that, and I've bought things from them anyway, because I wanted the item. Other times, I've passed on that item, and bought a similar item with reasonable shipping costs.

3. Timing. The time your auction ends has a definite effect on how many bids you receive. Testing shows the best time to close an auction is late Sunday night. The reason is that there are more people online at that time to bid than any other time, say the weekdays. Often the bidding will become more active the closer the end of the auction becomes, as people are watching the bids closely, hoping to win your item.

4. Pictures. Be sure to include good quality pictures of your auction items. Make them large enough to see details of your item, but still have a good loading time. A slow-loading picture is a sale-killer. Try to get a thumbnail photo on the search results page at your auction site.

5. Payment options. Try to make it as easy as possible for your buyers to pay for your item. Use online payment methods such as PayPal, or have the option to use credit cards. Many people still don't want to use credit cards over the 'net, so an option to pay by check or e-check might be helpful.

6. Order fulfillment. Send the item off as soon as possible after the auction. People don't want to wait. When I sell items, I have them already packaged up, just waiting for the buyers address. Tell them in your thank you note approximately how long it will take for them to receive their item. Be sure to respond promptly to any inquiries or complaints, and be polite to everyone. Your feedback rating will go up as a result.

These are just a few tips on getting the most out of your online auction. You can get more tips and tricks online, but these few tips will dramatically increase your auction earnings.

Good luck at your auctions!

Eric Ackley is your Home Income Specialist.

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