AuctionBytes-Update Number 16 - June 18, 2000 - ISSN 1528-6703
 
AuctionBytes-Update is a free newsletter for online auction buyers and sellers. Read reviews of online-auction products and services, tips on being more efficient, and the latest on antiques and collectibles. AuctionBytes-Update is published by email twice a month. (Print it out for easier reading.)

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IN THIS ISSUE:
1) From the Editor
2) Purveyors of Fine & Unusual Items
3) eBay Motors Sparks Boycott Follow-Up: Letters from Readers
4) Accepting Credit Cards When You Sell Items: ProPay and Billpoint Payment Services
5) Accepting Payment for Your Online Auctions
6) Breaking News: PayPal Offers Insurance and a Premier/Business Account
7) PriceRadar's Found in the Attic: Happy Father's Day!
8) COLLECTOR'S CORNER: Baseball Cards & Stamps
9) Second Hand Rose
10) Success 2000 Seminar - Advice for the Internet Entrepreneur
11) Letter from Reader - Response to Last Issue's Editorial
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1) FROM THE EDITOR

I have become addicted to eBay's Soapbox forum. It's a good place to see what is on peoples' minds, it's educational, and very entertaining. Often, everyone is in agreement at the beginning of a thread, and then some people come along with an opposite point of view. For instance, I was just reading a thread about "plagiarism." Some people were furious that others were lifting their auction description copy for their own auctions. But then others asked, 'why not?' One witty poster writes, "when you write the Great American Novel, then come back and whine." The back and forth jibes and verbal fencing makes for interesting reading. And the forums are searchable, so you can go looking for trouble! What's YOUR pet peeve? I'm sure you can find a thread on one of the forums. (And feel free to start some trouble on the AuctionBytes.com forums!)

***

David and I took Maggie, the auction beagle, for her first visit to the ocean. We went to Priscilla Beach in Manomet, Massachusetts, last Sunday. It was a cool sunny day, and Maggie wore herself out sniffing all the great beach smells: the seaweed, shells, a starfish and washed-up lobster traps. She even tracked down the shell of a horseshoe crab - that smelled VERY interesting.

Since it is summertime, I'd like to caution everyone not to drink and bid. A cute parody (which I learned about on eBay's Soapbox forum) can be found at http://www.theonion.com/onion3530/ebay_drunk.html . Stay sober, or you may find yourself the owner of some "interesting" items!

Ina Steiner, Editor
email: ina@auctionbytes.com

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2) Purveyors of Fine & Unusual Items
by David Steiner

To me, one of the most fascinating aspects of online auctions is the wide assortment of items always up for sale. Type just about any word in the eBay search engine (the largest consumer auction site), and the chances are good that something will pop up matching your search criteria.

I'm probably a big contributor to that diversity.

Unique items have always attracted my attention at yard sales, and I enjoy finding new homes for my discoveries. There's never any logic to my list of auctions. I may list a set of A-Team trading cards, a Beleek porcelain vase, and an antique lipstick case on the same day. My auctions can get so diverse that one of my buyers once left me a feedback, anointing me a "Purveyor of fine & unusual items". It has a ring to it.

Of course, I realize that I'm not the only person with this affliction. So with that in mind, I asked around some of the forums to find out other people's "Rags to Riches" stories. Here are a few finds of some other purveyors of fine & unusual items. 

Pat:  "I bought a plate that was chipped in 3 places, had a hairline and much of the paint worn off.  I bought it in the Second Hand Store for $1.  It had a mark on the back of it with an Indian, and Old Sleepy Eye Flower.  Mind you this was not the stoneware that they are famous for, just an old ceramic dinner plate.  I listed it, noting the damage and even took close-ups of it...it sold for $112."
"Then there was the Garage Sale Vase lying on the lawn with a bunch of old broken flower pots.  When I saw a lady pick it up, I was very interested.  When she put it down, I got it.  It was like free, because they charged me a flat $20 for everything I got.  I found out what it was and listed it last Christmas, it was a Peters and Reed Arts and Crafts Aztec Moss Vase, I think it sold for $260."

Jane: "I bought an Eames vintage huge bubble shaped plastic chair at a library sale for 15.00. I sold it on Ebay for over 600.00! It turned out to be made by a famous Italian furniture designer. Crazy bidding on it, lots of fun and profit!"

Shannon F: "I was cruising the local Salvation Army when I came across a box full of little blue guys, Smurfs! When I say a box full, I mean 92 of them! They were grungy and so I basically stole them for $3 and took them home for a good soaking. Sold them for $200 for a profit of $197!"
"[On another] day I was on my way to a garage sale with my Mother and saw a large garbage pile on the side of the road. Much to my Mother's embarrassment, I pulled over and rummaged a bit. I found some very heavy iron things, rusty and junky with a cartoon character engraved on them. Turned out to be Happy Hooligan Wafer Irons and sold for $150!"

Sheryl L.: "[My find] was a kilt outfit (about 13 pieces, including horsehair sporron, jacket, jewelry, splats) that a friend and I paid $25 for at a flea market. When we originally came across it, I told my friend that possibly my 16-year old son who was learning to play the bagpipes, may get a kick out of it.  But then I thought $25 is a lot and what if he hates it? (boys that age are not inclined to see the cultural aspects of wearing a skirt). 
"When we got it home, to our surprise, my son thought it was wonderful (he hopes to play the bagpipes for money someday and thought this would help his employment chances).  It fit him, but just barely.  His brother and best friend swore they would not be caught dead with him if he wore it!  However, when I saw that kilts sold on eBay for a lot of money, I told him sorry, we are selling it!  I figured he would outgrow it within a year, and probably never wear it anyway.  It sold to a gentleman who attends Celtic festivals for $650.  The plaid in the kilt was from his ancestry and he was thrilled with it.  My son still reminds me that 'he guesses the cost of a kid's dreams is $650 these days'!!!"

Rob B: "About 6 months after eBay went on line, I visited the site and browsed around to see what all the fuss was about. While checking out the movies category, I noticed that someone was offering an original tape of a single episode from Carl Sagan's "Cosmos" television series, and the price was already up over $30.
"About a week before this, I had picked up a set of "Cosmos" tapes from a friend of mine who runs a pawn shop. The set was missing one tape, but did include the bookshelf case and the book. As the set was incomplete, he gave it to me for $2 Canadian - thought I might be able to use the tapes for something else. I listed the set as incomplete and ended up selling it for over $300 US! That was my first eBay experience (great way to start eh!) and I have yet to top it."

Of course, before you rush out and buy everything that catches your eye, make sure you have a large space to store these items. I've had as many misses as I've had hits, and those misses are all sitting on shelves in the basement.

What's your best find? Go to http://www.auctionbytes.com/bin/generalbbs/config.pl  and let us know!

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3) eBay Motors Sparks Boycott Follow-Up: Letters from Readers

In the last issue of AuctionBytes-Update, E.S. James wrote about the controversy surrounding eBay's new "eBay Motors" auto site (http://www.auctionbytes.com/Email_Newsletter/10/11/12/13/15.html# motors). Here are two letters from readers.

Dear Ms. James:
I read your article with interest. In it, however, you state there are only about 35-40 organised boycotters. I have no idea where you sourced those figures, but they are grossly incorrect. There are over 200 organised Motorcycle sellers and buyers boycotting alone. At least as many from the collector vehicle areas, and probably twice that just boycotting on  their own. The organised boycott may have formally ended this week, however most, if not all, are continuing it until eBay reacts with more than simple "band-aid" fixes to eBay Motors. 
Regards,
Duncan S.

Dear Ms. James:
I am sure, if a survey was done, that even those that are still using Motors are very unhappy they just feel they have no other choice. Unfortunately eBay has the largest audience as far as online auction sites go. That is for the moment. I'm sure that with all their changes in the last few months (and most of those changes were not good ones in mine and many others' opinions) there will be an auction site soon that will challenge them. eBay has become too greedy and tried to grow too big too fast and has forgot the bidders and sellers who made them what they are. What were loyal eBayers are now looking to go else where since they feel they have been sold out by eBay.

I and many others believe that they could put back the old categories while they fix motors then we would be willing to look at the site again once they have it working properly. But this forced move to a site we didn't sign up for is not acceptable.
Thanks,
Cyn

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4) Accepting Credit Cards When You Sell Items: ProPay and Billpoint Payment Services
By Ina Steiner

ProPay and Billpoint are two services that allow sellers to accept credit cards for online auction transactions. Sellers never see the buyers' credit card numbers, so buyers have no fear of sharing that information with unknown sellers.

Note that ProPay and Billpoint are different from PayPal. PayPal conducts the credit card transaction and then puts the money into the seller's PayPal account; the service is free. With ProPay and Billpoint, it is the seller's name that appears on the credit card statement, and they charge the seller per-transaction fees.

Because the seller is acting as the merchant in the case of ProPay and Billpoint, buyers can use their credit card company's dispute resolution service against sellers (they cannot with PayPal). According to a ProPay spokesperson, the only time the seller has to worry about a dispute is if he/she either: a.) didn't send the product or, b.) didn't ship what was described. "It is not as if the buyer can do a chargeback on whim."

Billpoint is currently limited to eBay auctions. ProPay can be used in any online or offline transaction.

How It Works
The Seller enters the Buyer's email address, final bid amount, and a short bid description into a form on the ProPay or Billpoint Web site. The Buyer receives an email with directions to a unique URL, which goes to a secure site. The Buyer enters her credit card information, and then ProPay or Billpoint then deposits the money into the Seller's account, less the fee, of course. The Seller must have an account with ProPay or Billpoint. (The Buyer does not need an account to pay the Seller).

Fees
It is free to open a ProPay and Billpoint account. The companies charge Sellers for each transaction. There is no charge to Buyers. Fees are calculated on the total transaction amount (the total amount that the Seller charges to the Buyer's credit card).

At the time of this writing, ProPay only allows individuals to use its service. It charges 3.5% plus 35 cents for each transaction. ProPay limits each transaction to $250 and $1,000 in payments each month

Billpoint has a Standard Service and charges 3.9% plus 39 cents per transaction. The Billpoint Standard Service limits each transaction to $500.

Billpoint also has a Merchant Service Account. To qualify, you must have eBay sales of greater than $1,000 per month, a minimum of 6 months on eBay, 96%+ positive feedback rating, and good eBay account status. The fee is 3.5% plus 35 cents per transaction. Billpoint Merchant Service limits each transaction to $2,000.

Show Me the Money
How do sellers get the money from their ProPay and Billpoint accounts? To retrieve money from your ProPay account, you must use ProPay's Send Cash service, for which there is a 35 cent charge. It usually takes 48 hours for the money to appear in the account.

EBay's Billpoint service puts the money directly into the seller's bank account, usually within seven business days after the buyer's card is charged.

Note that the companies are likely to change fees and limitations on these services, so check their Web sites for the latest information. And be sure and look at the AuctionBytes chart comparing payment methods for more information (see next story).

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5) Accepting Payment for Your Online Auctions
By Ina Steiner

In the last issue, I took a look at common auction payment methods from the BUYER'S point of view (see chart at http://www.auctionbytes.com/Email_Newsletter/Email_Graphics/Buyc hart/buychart.html ).

For this issue, I created a chart of common payment methods as seen from the SELLER'S point of view. Note that sellers can dictate the payment methods they choose to accept. http://www.auctionbytes.com/Email_Newsletter/Email_Graphics/Sellch art/sellchart.html

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6) Breaking News: PayPal Offers Insurance and a Premier/Business Account

Before going to press, PayPal announced an insurance policy and a new business service. PayPal accounts are now insured for up to $100,000 for unauthorized transactions against your online account.

It also announced a new Premier/Business Account. It includes the benefits of a PayPal Personal Account, but offers some 'premium features' and charges a per-transaction fee of 1.9%. Note that you can still use the PayPal Personal Account for free.

The Premier/Business Account allows you to use your company name, offers 24/7 customer support, and offers an optional 'automatic sweep' of your PayPal balance into your bank account at the end of each day for a .6% fee.

PayPal promises that more features and benefits are on the way.

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7) PriceRadar's Found in the Attic: Happy Father's Day!
by David Steiner

Well, Sunday is Father's Day, so we decided to check outwhat dad really wants...online, at least. We searched online auction sites to see what the most 'collectible' Father's Day gift was over the past 30 days. From the results, it looks like Dad has been doing a little shopping for himself!

All searches were done with PriceRadar's Price Guide Tool. Go to www.priceradar.com  and try your own searches!

Necktie
Number of Items Sold: 4,931
Number of Items Unsold: 1,900
Sellthrough Rate: 72.19%
Highest Priced Item: $149.99
Lowest Priced Item: $1.00
Average Price: $4.92

Watch
Number of Items Sold: 4,237
Number of Items Unsold: 1,861
Sellthrough Rate: 69.48%
Highest Priced Item: $7,990.00
Lowest Priced Item: $1.00
Average Price: $93.41

Cologne
Number of Items Sold: 19
Number of Items Unsold: 25
Sellthrough Rate: 43.18%
Highest Priced Item: $26.00
Lowest Priced Item: $1.99
Average Price: $9.32

Golf Clubs
Number of Items Sold: 1,950
Number of Items Unsold: 2,017
Sellthrough Rate: 49.16%
Highest Priced Item: $1,130.00
Lowest Priced Item: $5.00
Average Price: $122.32

Power Tools
Number of Items Sold 208
Number of Items Unsold 436
Sellthrough Rate 32.30%
Highest Priced Item $425.00
Lowest Priced Item $1.00
Average Price $55.35

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8) COLLECTOR'S CORNER: Baseball Cards & Stamps

COLLECTOR'S CORNER: Million Dollar Baseball Card?
by Wayne Tuiskula

At a June 6th press conference in New York, officials of eBay and Robert Edward Auctions announced that the most famous baseball card in the world was going to be auctioned on eBay from July 1-15. This is the same T206 Honus Wagner card that I discussed in an earlier AuctionBytes column on Baseball tobacco cards ( http://www.auctionbytes.com/Email_Newsletter/8/8.html#sports ). Other T206 Honus Wagner cards have surfaced on the market but not in this condition. As mentioned in the previous column, it was once owned by hockey great Wayne Gretzky and later was the prize in a Wal-Mart contest, before being auctioned to a Chicago investment advisor, Michael Gidwitz. Gidwitz approached Rob Lifson of Robert Edward auctions about selling the card.

Lifson believes that the market for the card is much stronger than when Gidwitz purchased it 4 years ago. Lifson stated: "I'd be surprised if it didn't bring more than $1 million. That seems reasonable". Keep your on eBay in July to see if he's right. There is one additional note. To screen out bidders who aren't serious, they have stipulated the bidders must be approved by Robert Edward Auctions and need to set up a $100,000 escrow account.

Sports Editor Wayne Tuiskula has a long-time interest in sports collectibles. He and his wife Amy run estate sales in addition to their other careers. Email Wayne at tuiskula@tiac.net . eBay ID: tuiskula

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COLLECTOR'S CORNER: Stamp News
by Ina Steiner

[] Star Trek Stamps Signed by Leonard Nimoy & William Shatner to Be Auctioned
The U.S. Postal Service will auction one-of-a-kind philatelic collectibles on eBay. The online sale, coinciding with the World Stamp Expo 2000, is scheduled to begin July 7 and end July 16. The auction lots will consist of over 40 unique and limited-edition philatelic items that are framed and numbered. All items can be previewed online beginning Monday, June 19, on both http://www.usps.com  and http://www.ebay.com .
Highlights of the offering include:
- A full press sheet of Marilyn Monroe stamps signed by the stamp designer
- A full press sheet of James Dean stamps signed by the stamp designer
- An enlargement of the Supersonic Flight stamp image with a plate of four stamps, signed by Chuck Yeager
- Two Star Trek stamp cachets (#1/5000 and #1701/5000) signed by Leonard Nimoy and William Shatner (1701 was the Enterprise's number)

[] World Stamp Expo Scheduled for Next Month in California
The World Stamp Expo 2000 will be held July 7-16 at the Anaheim Convention Center in Anaheim, Calif. Admission is free. Space Achievement and Exploration is the overall theme of the Expo, as Space has proven to be one of the world's most popular stamp subjects.

World Stamp Expo 2000 represents only the second time the United States Postal Service has hosted an international philatelic conference. The other was held in Washington, DC, in 1989. World Stamp Expo 2000 will be open from 10 a.m. to 6 p.m. daily. Admission is free, and parking is available at the Anaheim Convention Center for a nominal fee.

For more information, go to http://www.usps.com  or http://www.worldstampexpo.com .

[] First Circular and Pentagonal Stamps to Be Issued Next Month
The nation's first hologram, circular and pentagonal U.S. postage stamps will be issued at the World Stamp Expo2000 in California. The Space Achievement and Exploration circular hologram stamp opens the show July 7 at a 10 a.m. first day of issue ceremony. This Express Mail rate ($11.75) stamp features a hologram of Earth, based on images supplied by NASA.

On July 8 a second hologram stamp will be issued at a noon first day ceremony. The $11.75 Landing on the Moon stamp features a hologram of a lunar lander, based on computer images and a three-dimensional model from NASA. The stamp is part of a larger souvenir sheet depicting a photograph of astronaut Charles M. Duke Jr., taken by astronaut John W. Young during the Apollo 16 mission in April 1972.

The Escaping the Gravity of Earth hologram stamps will be issued July 9 at noon. These two Priority Mail rate ($3.20) stamps feature holograms of the International Space Station.

July 11 marks the first day for five Exploring the Solar System stamps, the first pentagonally shaped stamps in U.S. history. These $1 stamps present the following views of the sun: an image of a solar eclipse from a satellite, an illustrated cutaway view, a digitally restored NASA image of sunrise from space, an image of a solar eruption taken by Skylab on Dec. 19, 1973, and a photo from Earth of the sun in a partly cloudy sky. The souvenir sheet depicts a montage of Saturn and several of its moons, imaged by Voyager 1 in November 1980.

All 15 Space Achievement and Exploration stamps will be available at the World Stamp Expo 2000 show (see below) and at Anaheim post offices beginning on each respective first day of issue and, starting the following day, at authorized philatelic centers (located at larger post offices), Postal Stores, online at http://www.stampsonline.com  and by calling toll-free 1 800 STAMP-24. Pre-orders are currently being accepted only through 1 800 STAMP-24.

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9) Second Hand Rose

Shopgoodwill.com is an auction site containing antiques and collectibles pulled from Goodwill's vast inventory of donated goods. Revenues from auction sales fund education, job training and job placement programs for people with disabilities and other disadvantages. Sellers must be a member organization of Goodwill Industries International, and there are no buyer fees. (http://www.shopgoodwill.com)

Internet Resale Directory to Secondhand, Surplus & Salvage (http://secondhand.com) allows you to search for "resale" stores in your area, including consignment, flea markets, liquidators, pawnbrokers, surplus/salvage and more. From the Home Page, click on "Resale Stores" and it brings you to "Search for a Resale Business." You can search by state (includes "outside the U.S."), city, store type, description, zip code, area code or business name.

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10) Success 2000 Seminar - Advice for the Internet Entrepreneur
By Edith Reynolds

This month, 250 eager entrepreneurs gathered at the Water's Edge in Westbrook, CT, for the Success 2000: Turn Your Vision into a Reality seminar. The guest panel featured billionaire businessmen Bruce Lev of Microwarehouse, Leon Hirsch of US Surgical, and Brett Brewer of CD Universe who shared their experiences of taking a good idea to the apex of commercial success.

The real highlight of the seminar were the small workshops focused on the various aspects of internet selling: Ecommerce, venture capital, writing a business report, power speaking and conferencing, buying and selling businesses, entrepreneurial skills, succession planning, business from start to success, and power writing.

Advice For Your Business
The first few cyber steps taken may seem easy, perhaps nothing more than typing in a few auctions on the family computer. But success soon breeds growth and preparing for the future makes those growing pains easier to bear.

1) Create a Business Plan
The upshot of Success 2000 was the simple truth that Internet businesses benefit from the same tried and true aids that bolster the brick and mortar variety. A good business plan is the backbone of any growth. Laying out how you intend to conduct your enterprise and plan for the future is important, whether it's explaining to your family why the den has been converted to a warehouse or asking a venture capitalist for millions of dollars. A plan forces you to think about the steps for growth: buying a better computer, setting up an efficient postage system, deciding the best equipment buys that will allow you to sell more in less time, accounting for your expenditures and, hopefully, profits. And then there's the possibility of employees to consider!

2) Work Hard (we knew that!)
Success on the Internet is nothing more than old-fashioned hard work. Among the three billionaire tycoons that opened the festivities, the common thread was the long, hard hours it took to reach the top. Working the equivalent of two full time jobs and learning about finance was the norm - and what it took to acquire a personal helicopter.

3) Weather the Storm
But a plan and a dream aren't a skip to the bank. You can lay out the best map possible but you better be resilient enough to weather the pitfalls along the way. Leon Hirsch's came twice. The first hurdle he had to overcome was convincing physicians that a guy who never went to college and tinkered in his basement really did have a better way to close patients after surgery. Imagine the look on the first doctor's face as Hirsh describes staples as the way to go. The second was an attempt on his life from an animal rights activist who thought it was a good idea to plant a pipe bomb in his car.

Brett Brewer's test by fire began when a cyber-terrorist faxed him a simple message: deposit $100,00 in my bank account or I'll post your clients' credit card numbers on the world wide web.

Bruce Lev's trial proved personal and involved a trusted financial officer who was caught embezzling large sums; an act that pulled the plug on Microwarehouse's stock prices.

Summary
The message of Success 2000 was clear. Use your head and common sense when it comes to doing business on the Internet. Do lots of homework. Plan and then plan some more. And finally, be courageous in the face of adversity.

Another Success 2000 seminar is planned for October 24 in Cromwell, CT. Call 1-800-356-6868 or register online at http://www.ctsuccess.com.

If you're nowhere near the southern New England area and would like to learn more about Internet business, the Small Business Administration is ready and willing to be of service (http://www.sba.gov).

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Edith Reynolds is a former newspaper and magazine writer. She and her husband Dan own an antiquarian bookstore, The John Bale Book Company in Waterbury, CT. For the past nine years, they have specialized in early Americana and rare bindings. They are members of the ABAA - Antiquarian Booksellers of America Association, ILAB - International League of Antiquarian Booksellers, IOBA - International Online Booksellers Association, and OAUA - Online Auction Users Association. Edith manages online sales. In addition to their bookstore, they sell on eBay and at book fairs. Visit Edith's Web sites, http://www.taxter.com and http://www.usiana.com. eBay IDs: TAXTER, TAXTER2, TAXTER3, USIANA, BALEBOOKS
 
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11) Letter from Reader - Response to Last Issue's Editorial
"Real World" Auctions Have Problems, Too"

I think we need to tell relatively new buyers and sellers that "real world" auctions have their shady sides too. In most, if not all, there are hidden and unannounced reserves. In most, if not all, there is the rouges row in the back known to bid against the attending buyer's bid.

In one or more nationally known auctions, the auctioneer, even in absolute or nonreserved items, will, after having taken bids from the floor, announce, "folks this item can be sold at another auction for much more money." End of auction and a clearly illegal act.

In most if not all consignors conceal hidden damage. In many, the auction contains items advertised from a certain estate but are consigned items. In most auctions the items are sold as is and there is no recourse except by strong regular buyers who sometimes have power to call for adjustment in price when tricks are discovered. In many auctions known reproductions and restorations are sold unannounced to the unsuspecting and uneducated buyer.

.....The seller on cyber auction can and does build a trusting buyer base by avoiding the shady side of selling. In all auctions, the buyer must be the final judge. The buyer must build such networking friends that he or she feels can be trusted. The buyer must educate one's self and use every buyer awareness in all purchasing situations.

.....When the buyer occasionally makes a bad purchase, even sometimes when misrepresented, he or she must realize that this is part of the auction process of merchandising. The buyer must realize that the very good buy must occasionally cover the shady happening and enjoy the profit of successful buying.

.....Finally, the buyer needs to understand that the price of procurement is all travel, all motel expense and all out of pocket expense going into getting an item. Is it any wonder that cyber auction items seem to bring more money than real auction items?

Docgipe

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AuctionBytes-Update ISSN 1528-6703
AUCTIONBYTES.COM CONTACT INFORMATION
Editorial: ina@auctionbytes.com
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Ina Steiner, Editor, Publisher and Co-founder: ina@auctionbytes.com
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dsteiner@auctionbytes.com
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AuctionBytes.com
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