Tips for Starting Online Auction Business

Posted by Nick Niesen on November 1st, 2010

The online business around the world is into billions of dollars. And one of the important part of this online business is Online Auctions. Products can be sold on online auction sites everyday, where buyers are looking for products. It is also good place to sell your products with any investment or marketing from your side.

How to get started? Here are the tips

1. Deciding What to Sell

Through online Auction, you can sell anything. Predominantly the common products being sold on online Auction are:

a. Collectibles products
b. Items - like clothing and toys
c. Other items, including quilts, soap, and dollhouse items
d. Craft supplies

2. Select the Place:

Once you have decided what to sell, it's time now to decide which auction site you will chose to auction your product. Site like Ebay (http://www.ebay.com) is the most popular one, it is a good place to sell. Besides from ebay, sites like Yahoo! Auctions (<http://auctions.yahoo.com>) and Amazon Auctionshttp://auctions.amazon.com) both get significant traffic.

It is always good to check if you could find any exclusive site for what you have decided to sell. The next step is to sign up on the site.

3. Find your products:

You have many different ways to find the products that you want to sell. The following list will give you some idea on different products available.

oCheck newspaper for inventory closeout sales
oWindow shop discount offering shops
oVisit garage sales and flea markets
oLocate wholesale marketplace

4. Listing items:

This process involves giving complete information on the item you're selling including the brand, size, color and a brief description. Remember the more the information the better the prospects of finding a buyer. A good photograph of the item will do a world of good. The most important point is to provide lot many keywords to attract search engines.

5. Set yourself up for repeat sales:

Once the sale is up, ship the item immediately, and once the payment is received do send a feedback mail. This set you up for repeat business by:

·Do send a card with your package, your site name and user id. This helps the potential buyers understand the nature of your product line.
·It is always good to follow up the customer if they are satisfied with the product and ask if they would like to be contacted when you list new items. Keep sending information on your new products if they request so.

Online auction business is a wonderful opportunity for everybody to start a new venture from home.