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Online Auctions...
Online auctions such as eBay, Amazon, Yahoo, etc. offer an outstanding opportunity to the individual interested in a part-time or full-time work-at-home vocation.
Many small businesses have closed their shops in favor of selling through these auctions. Probably the most successful are in the area of coins and stamps, where there are many sites dedicated specifically to these areas.
I have tried a number of different auction sites, but find that eBay is the most successful for me. Many of the other sites where I have posted auctions simply do not have the traffic. It has been my experience that I will receive 20-30 bids on eBay for every one on Amazon or Yahoo. I have started "testing" these other auctions once or twice a month by posting a couple of my most popular items to see what happens. Results have not been impressive to date.
There is no "right way" to participate in this incredible forum. The notes below are simply what works pretty well for me.
The most important tool I have is Blackthorne's Auction Assistant Pro. If you are new to the wonderful world of online auctions, you will probably want to start with the Classic version of Auction Assistant. You can find details and a fully working demo version on Blackthorne's web site at: http://www.blackthornesw.com/bthome/. It is not an absolute necessity that you have special auction software because each of the auction sites have their own methods of creating and posting an auction, but auction software makes the job much easier, faster, and better looking auctions. This info is written on the assumption that you are using auction software.
You will also need a scanner (for smaller flat items) and a digital camera (for larger 3-dimensional items). One of the low-end scanners available at places like Sams, WalMart, OfficeDepot, computer stores, etc. will work fine. As for the digital cameras, almost any one will work. You will also need a site to post your pictures. Often your ISP will provide space for a small web site at no additional charge. Otherwise, there are a number of sites that will host your pictures. Check out eBay or other auctions about info on this.
Preparing for your sale...
The first thing you need to do is to select the items you intend to auction. Give them an inventory number. As an example, I assign a number like "BK-001, 2, 3, etc." for my books. Either scan the item or take a picture of it with your digital camera. When scanning, save the scan as a 72dpi scan. That will make a smaller file and 72dpi is as high a resolution as needed. When scanning, I set the width to a maximum of 4". The reason for this is the photo will not be too wide next to your description. Also, save the scan as a JPEG and in your scanning software, and crop the picture so that there is no excess margins around it (that excess space makes for a larger file). Look at the size of the scan and if it over about 50k, reduce the size in your scanning software. When you save the file, I would recommend saving it with your inventory number as the filename (i.e. BK-001.jpg). Make certain you log the name of the file on a PostIt note or the such and affix it to the item. In the case of a picture taken with a digital camera, the camera will give the graphic its own unique name. You will want to change that name to something recognizable. I will rename each of these using the Inventory Number. NOTE: Digital camera photos are generally much larger than your 72dpi scans. Use your graphic software to reduce the width of these to a maximum of 4". Once all have been properly named, copy all of the JPG files into an Auction Pic folder on your hard drive. If your software allows for making thumbnail prints of your pictures, this can be really handy in selecting your pictures.
Once you have taken all of your pictures, you need to put a lot of thought into your descriptions. The better your description, the more interest your auction will receive. The picture is very important, but so is your description. Tell as much about the item as you can. Highlight any interesting points. If there are any defects, be sure to mention those at the end of your description. You can compose your description in your auction software. Import your picture into your auction software from your Auction Pics folder.
Set aside your items until you have posted your auctions.
Pricing Your Auctions...
Pricing an item for auction also needs to take some thought. In my particular case, some of the items from my collection were acquired many years ago and I have no idea what I paid for them at the time. I've screwed up badly on the pricing of some of these - finding later that I started an item for $9.99 or $19.99 that was today worth several hundred dollars. But, I don't "cry over spilt milk." On many of my items I will start my auction at the minimum I am willing to sell it for, plus the listing fee. On other items, I start them at the same price a similar item is available for on my web site. In my shipping charges I include any special packaging the item may require. I generally try to use the free USPS boxes, but do have quantities of several sizes of boxes and hard mailers that I purchase from Cheswick (800-225-8708). As far as insurance, my price on any item under $25 carries automatic insurance. For items realizing $25 or more, I have an additional charge for insurance that is available. On the occasional item I purchase specifically to auction, I will start that item at a little more than my cost and see what happens.
Starting and Ending Your Auctions...
Once you have completed the descriptions on all of your auctions, export the pictures to the site that will be hosting your auction pictures and post your auctions (either individually or as a group using Mr. Lister). Enter the assigned auction number into your auction software and label each item with that number. I then go to the auction and print a hard copy of it and clip that hard copy to the item. You can either package the items at that time with the auction number written on the package or put them in a safe area until the auction is completed. Then, you sit back and wait.
When the auction is completed, use your auction software to notify the successful buyer. When the buyer responds to your notice with his/her name and address, enter that info in your auction software, print a label, and affix the label to your package or clip it to the item. When the payment comes in, I open the envelopes, remove the payment, check any paperwork to make certain that the auction item number and customer's shipping address is on the paperwork, and write the amount of the payment and date received on the paperwork. If, as often happens, the buyer did not include all of the necessary info, but it is on the check, I will make a photocopy of the check and staple it to the envelope. I then put that paperwork in an "orders" basket and deposit the payments or run the credit card info through, attaching the credit card receipt to the paperwork. I then enter the buyer's info in my auction software.
PayPal is really the best way to accept online payments. Details can be found at www.paypal.com. I have used PayPal for over 5 years and have yet to have a problem. The fees are low and the security is outstanding. I've heard complaints from some about PayPal, but most of the horror stories they tell are urban legend.
While occasionally I have the time to make shipments immediately, normally all of my shipments are made on the Friday of the week payment is received. On Fridays I have part-time help. Before my help comes in, I will pull all auctions that have been paid, and start sending the "shipped" notice to my buyers and complete the Feedback while my helper completes the packaging, affixes postage or UPS shipping label. I have a little pre-printed slip that thanks the buyer for his purchase and has a space for the amount of the payment received, the auction item number and the date shipped. That is completed by my helper and is put in the package along with a catalog and anything else I might want to send with it.
Finally, I do my Auction Cleanup. Once an item is shipped, I delete the picture from my website, but not from my hard drive unless that picture cannot be used again. This takes a little extra time in the case of my duplicating that auction, but if you place a lot of auctions, these graphics can take a huge amount of space on the site that is hosting your pictures. I find that the little extra time it takes to repost a photo is worth it. If I didn't have a "system" I would forget and end up with a lot of pictures on my web site that are no longer good.
If I have a similar item to the one just sold, I will duplicate the auction, grabbing the picture from my Auction Pix folder. And list it over again in a couple of weeks.
On items that did not get any bids, I will "re-list" the item, taking advantage of eBay's free relisting service. Often on the 2nd time around an item that received no bids the first time will receive a number of bids the 2nd time. If it doesn't sell the 2nd time, I will delete the auction and put the item back into inventory for posting at some later date.
Other Thoughts...
I do not normally buy items on auction to resell. This is not a cut-and-dried rule I have set, but most of the items I sell are either displays that I have created from items in my personal collection; booklets I have published; or giving added value to items I acquire through wholesalers and individuals I have established a rapport with over the years. With the exception of my fossils, I seldom sell anything in the form I acquired it. In other words, on dug Civil War relics, I have 5 professional diggers I generally purchase from. I will make displays using these items. I also do a nice business in special interest collections of worldwide postage stamps. I purchase commemorative stamps in huge quantities and sort them out as to the particular interest. Some I use for my displays and others I put into small collections of 10-100 different stamps. I seldom offer these in the stamp areas, but rather in any special interest area that may be available.
I have an acquaintance who has a full-time business selling on a number of different auctions. He received a physical retirement from the US Postal Service and now spends all day Thursday, Friday and Saturday going to garage sales in the greater Houston area. He looks for small items that are easy to package and ship. He then spends the rest of the week posting these items, packaging and shipping. He tells me that he makes far more in this new work-at-home business than he did as a letter carrier.
The Downside...
There aren't many downsides to online auctions, that I have found. I've met a lot of great folks, but occasionally you run into a buyer (or seller) who is a real pain. I've been fortunate in that I've only run into two of those "buyers from Hell," and one seller. That's not too bad when you consider the thousands of auctions I had in the last two years.
One major downside to doing this alone is what to do in the case of an emergency. Some time back I had a heart attack and was offline for some six weeks - just after I had posted some 50+ auctions and had bid on another 25-30. That presented a huge problem for me for several months after I got back. On another occasion, a few months later, I had to have emergency surgery for an internal abscess. That knocked me offline for a couple of weeks. After that I hired my old secretary to come in one day a week to help out. While I haven't had a repeat of those two problems (yet), Susie knows enough about the business so that if I am out, she can respond to any email and make any shipments for items that have been paid. You need to make a contingency plan as to how your business will be handled if you are incapacitated.
Promotion...
I am a strong proponent of advertising and promotion. Nothing leaves my office without some kind of promotional material included. My auction user name, email address and website is included on business cards, brochures, and even the signature in my email. It takes time to get this to start working, but now I make a very nice volume of sales from my web site and by phone. If you do not have a web site yet, you need to seriously think about creating one. Using Microsoft's Front Page makes it so easy that even a novice can have a pretty decent site posted within a day or so after opening the software package. Web hosts are many and inexpensive. I use ILAND.COM (http://www.iland.com) out of Houston, Texas.
Periodic newsletters really work. I try to do one every 3-4 months. I save the email addresses of everyone who has bid on any of my items and everyone who has made a purchase through my website. The newsletter contains general interest items as well as a notice of anything new I have on my website.
You should also send a news release about your work-at-home business to area newspapers. Address it to the Lifestyle or Business editor. Include your
web site address as well as your eBay seller's id. In time, you will generate a nice amount of
business. My web site certainly doesn't have the traffic of eBay, Yahoo, Amazon, etc., but I am
getting over 1,000 visitors per month and am getting 15-25 orders per week from it.
That's about all I can think of now. If I come up with some more thoughts, I'll include them.
Cy Stapleton - cy@hotlinecy.com - eBay ID: lufkincy - Web Site: www.hotlinecy.com