AuctionBytes-Update Number 39 - June 3, 2001 - 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 information about 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) How Many eBay IDs Do You Have? The Results Are In!
3) Why People Use Multiple IDs
4) This & That
5) How to Make Money Selling Books Online - Part I
6) Second-Hand Rose
7) COLLECTOR'S CORNER
8) Newsflash
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1) FROM THE EDITOR

How many eBay IDs do you have? We conducted a survey to find out! Some of the results are included in this issue, and detailed survey results can be found on our Web site at <http://www.auctionbytes.com/usersurvey/usersurvey.html >.

I'm pleased to announce that another of our writers was highlighted in a national forum. Edith Reynolds and her husband Dan Gaeta own The John Bale Book Company and were profiled in the New York Times on May 20, 2001 (see this issue's "This & That" column).

David was quoted in the Wall Street Journal on Friday. There were two articles about eBay and online auctions in Friday's Journal, both well worth reading.

In this issue, Craig Stark begins a multiple-part series on how to make money selling books online. His "rules of thumb" for book selling can be applied to other areas, as well. For instance, he doesn't think it's worth the trouble to list a book that sells for less than $10. Maybe you don't agree with the exact dollar amount, but having a figure will help you when you are on inventory-buying expeditions. (I know I've brought things home from auctions and yard sales and later wondered what I was thinking! The $10 rule will add some discipline to my shopping trips.)

Please join David and me in a live chat on The Collecting Channel this week. The live one-hour chat will be Wednesday, June 6, at 9pm EST. You can join the chat via a link from their home page at < http://www.collectingchannel.com>. We would love to answer questions about all aspects of online auction buying and selling. We will also be discussing the results of our recent studies on the prices of collectibles and eBay User IDs. Don't have a question? Come on by anyway and say hi. We'd love to meet you!

Ina Steiner, Editor
email: ina@auctionbytes.com

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2) How Many eBay IDs Do You Have? The Results Are In!
by David and Ina Steiner

In the May 20th issue of AuctionBytes-Update, we asked readers to participate in a survey to see how many eBay User IDs they have and what they use them for. Thanks to everyone who participated - we got an incredible response rate! First, some quick facts to whet your appetite:

55% of respondents had more than one eBay User ID.
12% of respondents had 5 or more eBay User IDs.
27% of respondents had 1 or more IDs that hadn't been used in the past year.

AuctionBytes Readers Are Different!
50% of survey respondents are AuctionBytes subscribers - other respondents came from postings on message boards. There were many similarities between our readers and non-readers, as follows:
91% of readers have been registered with eBay for at least 1 year, versus 89% of non-readers.
55% of readers said they were primarily Sellers on the eBay site versus 51% of non-readers.
18% of readers AND non-readers said they were primarily Buyers.

But there were also some differences:
58% of readers have a single User ID on eBay versus 33% for non-readers.
45% of readers have bought or sold on another site besides eBay in the past 12 months compared to 60% of non-readers.

Texas Tall Tale
Our survey results indicate that eBay's claim of nearly 30 million registered members is misleading. eBay's Annual Report states that the company closed the year 2000 with 22 million registered users, representing 125% growth over the 10 million registered users it had at the end of 1999. The Annual Report states, "To put that in perspective, eBay's community is now larger than the population of Texas, the second largest state in the Union." AuctionBytes believes that the number of active unique eBay members may be about 13 million, closer to the size of good old Pennsylvania.

On May 30th, eBay spokesperson Kevin Pursglove told us that there were 29.4 million registered users on eBay at the end of the first quarter 2001. He said that eBay does not claim that these are unique or active users. He also said that accounts that are cancelled or NARU'd (Not a Registered User) are deducted from the count. He could not tell me when an inactive account becomes NARU, stating, "There is no pre-determined time when an unused account will be declared a NARU."

So what is included in the figure of 29.4 million? Pursglove stated that the number of registered users includes all eBay.com sites, including 13 country-specific sites, except for iBazar, the French site acquired in the second quarter of 2001. The number also includes eBay Motors and eBay Premier, but does not include Half.com members.

Pursglove admitted that the number of registered users can be misleading, since a "registered user" can be extremely active or not active at all. He said that eBay uses three metrics to assess the site's performance: number of registered users, Gross Merchandise Sales (GMS) and number of items listed on a quarterly basis.

Who Cares?
Although eBay cares about GMS and number of items listed, eBay sellers care about the number of active eBay participants. The larger the user base, the better chance of a high sell-through rate. Our survey results show that eBay's population count is not a good indicator of unique active users on eBay, since many people have multiple accounts and/or inactive accounts.

Detailed results of the AuctionBytes survey can be found at <http://www.auctionbytes.com/usersurvey/usersurvey.html>.

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3) Why People Use Multiple IDs
by Ina Steiner

Most veteran eBay members know that people use multiple IDs on eBay. Sure enough, survey respondents cited a variety of reasons for holding multiple eBay user IDs. Here are some of the more interesting answers:

Vigilantism Is Alive on eBay!
Many people get upset when sellers misrepresent items for sale, feeling that even if the seller doesn't know the authenticity of an item, they should research it before putting it up for sale. Well, one survey respondent said they use a separate eBay ID to bid on items that are reproduction antiques when the seller does not reveal that fact; they win the auction and then don't pay the seller.

Santa Clause Is Coming
Several people said they use a separate ID for gift-buying. "The 2nd ID I use to buy family members gifts... they look on my 'normal' ID too much, so I have to keep their gifts a secret!" "I needed a second account to be able to buy items for Christmas, etc."

Dog-Eat-Dog World
"It is very common for die-hard collectors to monitor the bidding activities of competitors, so this is my way of protecting myself." We know of some users who troll through eBay looking for items that the seller has mis-categorized or misspelled. They can then buy the item at a bargain (since no one else can find it!). Sharp collectors keep an eye on these alert individuals in the hopes of snatching the bargains for themselves.

Retaliation Avoidance
"I use another ID for buying and don't hesitate to leave feedback when the item is not as described." Although retaliatory feedback is banned on eBay, many buyers and sellers fear that if they leave a negative feedback for someone, their trading partner may very well leave a negative feedback for them in return.

The "Mom" Factor
"So I can buy and sell without 100 of my friends and relatives knowing what I'm doing."
"So mom does not know what I buy."

Shill Bidding
Yes, one respondent owned up to shill bidding. This is when you bid on your own item (or that of an accomplice) to raise the selling price.

Boarding & Bitching
"I have one ID for buying and selling and one for boarding and bitching." Judging by some of the behavior on message boards and chat forums, it doesn't surprise us that people want a second identity for posting versus buying/selling!

"Mood Ring" Phenomenon
"I create names according to what mood I am in. I have over 200 eBay names and over 900 email addresses."

Some other answers:
"One ID is only protecting a personal 'trademark.'"
"Selling items for a friend under another ID."
"Personal reasons."

Here's our favorite: "Because it's allowed."

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4) THIS & THAT

eBay Announces Recommendations Feature
eBay announced a new feature whereby buyers who are outbid on an auction will receive an email containing items similar to the one they did not win <http://pages.ebay.com/search/items/recommendations_learnmore.h tml>. If AuctionWatch's forums are any indication, sellers are not happy about this latest eBay policy. <http://www.auctionwatch.com/mesg/read.html?num=2&thread=37 9361> One member wrote, "Someone explain to me why it is that WE'RE not suppose to contact our under bidders with offers to trade, but eBay can!?!?"

We wonder how this policy will affect closing auction prices. The urgency to win an auction is sure to be lessened since losing bidders can look forward to a list of similar items that are still up for sale. Stay tuned for this one!

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How to Get Around eBay's "No Links" Policy
Sellers are not allowed to link to their Web sites on their auctions' "View Item" pages, something that is distressing to many sellers. The Auction Seller's Resource developed some strategies for sellers who would like bidders to know how to find them.
< http://www.auction-sellers-resource.com/newsletters/specialmay.ht ml>

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Calling All Collectors - In Boston
Gary Sohmers is the "King of Pop Culture" and frequently appears as an appraiser on the PBS Television Program "Chubb's The Antiques Roadshow." If you live in the Boston area, tune in to Gary's show, "Calling All Collectors," on Sunday mornings from 11 am - 12 noon on WBIX AM 1060. You can call in to 877-711-1060 to ask Gary questions about collectibles and memorabilia. He'll also give you a "Psychic Appraisal" on collectible items. <http://www.allcollectors.com>

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Product Recalls and Safety Information
If you are buying and selling used items, you may be interested in a way to look up product recalls for unsafe items. You can review recent recalls or search the database at the U.S. Consumer Product Safety Commission. They also have tips like the "Back to School Safety Checklist." The "Thrift Store Checklist" <http://www.cpsc.gov/cpscpub/pubs/thrift/thrftck.html> is also useful.
< http://www.cpsc.gov>

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Edith Reynolds Profiled in New York Times
AuctionBytes columnist Edith Reynolds was profiled along with her husband, Dan Gaeta. The two are joint owners of The John Bale Book Company, an antiquarian bookstore located in Waterbury, Connecticut < http://www.sellusyourbooks.com/contactus.html>. The article focused on ways in which sellers of used books have established themselves in cyberspace.
New York Times: "For Used Books, a Shelf in Cyberspace" by Alan Bisbort, 5/20/01

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Buying & Selling Online
The Collecting Channel opened a new forum on their Message Board called "Buying & Selling Online - News & Views": <http://www.collectingchannel.com>, click on message board.

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Why Not Run Another Online Auction Story?
The Industry Standard's Media Grok reports on the attention that online auctions are getting from journalists. <http://biz.yahoo.com/st/010601/26842.html>

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5) How to Make Money Selling Books Online Part I
by Craig Stark

INTRODUCTION: This is the first in a series of articles on selling books online profitably. Future topics include researching which books to sell; locating saleable books; and pricing and presenting them for auction or resale. The author is an online bookseller who makes over $1,000 a week selling books exclusively on eBay.

PART I: Which Books To Sell: INSTINCT
One of the first questions that arises when contemplating selling books online is, how do I know which books will sell? A quick glance at eBay book listings might discourage you from selling them at all because, sadly, the majority of books offered for auction ultimately receive no bids whatsoever. This is why it's crucial that you do your homework before spending the time and energy to list a book for auction.

Though this may seem woefully unreliable at first, the most important tool you have for identifying a saleable book is your nose, or instinct. Wherever you are - at a sale, in a thrift shop, a used bookstore, etc., - trust your nose. If you see something that catches your eye, it may well catch the eye of a buyer as well. A good rule of thumb is: if you pick up a book, look at it, put it back, and then at some later point pick it up again, it's time to buy it. It's caught your eye twice. There's something about it, perhaps as yet indefinable, that could produce a sale.

At this stage, assuming you know little or nothing about the value of the book you're looking at, try not to spend more than a dollar for any single title, preferably much less. It's quite possible to walk into a bookstore, spend $15 or $20 for a book, and resell it online for over $100, but there's no point risking a purchase like this until you have more experience.

Though it may seem imprudent to be buying books for the purpose of research - that is, with no immediate intention of reselling them - it's actually the quickest and most cost effective way to gain the experience you'll need, assuming you don't overpay for individual titles. If you take the trouble to develop your instincts, you'll begin to get smarter with your purchases very quickly and also notice that you're putting together and adhering to a set of rules that you may not even have thought about consciously. It's these rules that will help you weed out the 99.9% of books that you don't want to waste your money buying.

Several examples of silent rules:

1. Avoid books with more than one copyright date or evidence of additional printings.

2. Avoid book club editions (Book-Of-The-Month Club, Literary Guild, etc.)

3. A book with a dust jacket is much better than the same title without one (though it should be noted that some books are issued without them). Also, dust jackets that have survived 50 years or more are generally scarce.

4. A heavy book or one with a dense feel to it is likely to have more value than a light one.

5. A non-fiction title is more likely to have resale value than a fiction title.

As you gain experience, this list of rules will expand greatly, and the individual rules will undergo extensive refinement. (There are always exceptions to these rules.)

Once you've purchased your research samples, it's time to find out how you've done. The two best ways to accomplish this are by searching the titles on a book dealer search engine and by looking up your title on eBay closed auctions.

Because it's fast and extensive, one of my favorite search engines is abebooks.com < http://www.abebooks.com>. Another is Bookfinder.com <http://www.bookfinder.com>. While it isn't as fast as abebooks, the listings are more extensive and the search results are broader (including titles related to what you've typed in).

These sites and several others like them are a compilation of thousands of book dealers' listings. They can give you a rough idea of typical market prices for most books in circulation. I won't go into specifics now, but in general, you'll need to match up the specific copyright dates and publisher for an accurate comparison. Also, condition can make a huge difference, not to mention the presence of a dust jacket. Read the descriptions carefully.

Assuming you have located some comparable books on these sites, if the prices quoted are for the most part $15 to $20 or more, there's a good chance you may be able to realize $10 or more by listing your item on eBay. If the prices are lower than this, chances are you've got a dog. Another rule of thumb: in my experience, it simply isn't worth the trouble to list a book that sells for less than $10.

Now that you've separated the saleable books from the dogs, you'll need to dispose of the latter. One good way to do this is to take them to a used bookstore. Many of these outlets will offer you store credit that you can later use to purchase higher quality books for resale.

You can also appraise your purchases by searching closed auctions on eBay. More about this next time in Part II: Which Books To Sell: RESEARCH.
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Craig Stark is a full-time online bookseller, working at home, and currently making in excess of $1,000 weekly selling exclusively on eBay. He lists anything that will realize a worthwhile profit, including both rare, antique titles, signed first editions, and 20th century books that for whatever reason command a strong price. In late June he will launch a Web site at <http://www.braintreebooks.com> and offer a large selection of hard-to-find, quality books.

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6) Second-Hand Rose

Pour yourself a cup of coffee and listen to my latest bargain-hunting adventure. I was at my first yard sale of the day last weekend. It was a bright sunny day in a nice upscale neighborhood. After trekking down a long driveway, I started poking through the usual assortment of toys, dishes and like-new exercise equipment (who are we kidding when we buy those gizmos, anyway?). There, sitting on a table, was a black leather pocketbook. It looked brand new, and I glanced inside to see the maker. Coach! My heart fluttered. How much were they asking? I quickly looked at the tag: five dollars!

For the fashion clueless, Coach pocketbooks retail for $200-$300 new, and used ones can sell for $40, $60 or more on auction sites. I snapped that baby up before the seller could change her mind. This classic pocketbook will only get better with age and will never go out of style. I was on cloud 9 for the rest of the day.

Another recent conquest: a Christian Dior navy suit for $5 found at a church rummage sale. Whether you are looking for fashions for yourself or for resale, it pays keep your eyes peeled.

Not sure what to look for when buying second-hand clothing and accessories? "Secondhand Chic: The Secrets of Finding Fantastic Bargains at Thrift Shops, Consignment Shops, Vintage Shops and More" gives you the lowdown. It shows you how to look beyond the label to find great quality clothes and accessories for cheap, cheap, cheap!

You can find the book on Amazon <http://www.amazon.com/exec/obidos/ASIN/0671027131/auctionby tescom >, or check your local library.

To find a listing of second-hand stores, try The Internet Resale Directory at <http://www.secondhand.com>. You can search the directory's 40,000 listings by keywords, location, business name and type of store.

Happy hunting,
Rosie

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>>>>>>>>>>>>>>>AUCTION FORECAST:

David's auction forecast calls for a mixed day for Sunday, June 3, 2001:
5-day auction: Fair
7-day auction: Good
10-day auction: Bad

Click here for an extended auction forecast:
<http://www.auctionbytes.com/Email_Newsletter/calendar/calendar. html>
Bookmark it!
<<<<<<<<<<<<<<<

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Recommend AuctionBytes-Update to a friend! Forward this complete issue to
them, or go to
http://www.auctionbytes.com/Email_Newsletter/Recommend/recom mend.html
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7) COLLECTOR'S CORNER

Hotel Labels
Joao-Manuel Mimoso has created a Web site devoted to hotel labels. People in the 1800s and early 1900s would apply hotel labels to their luggage as souvenirs chronicling their travels. The site has some beautiful examples of these small works of art along with their history.

The author, Joao-Manuel Mimoso, is a mechanical engineer and collector who has traveled extensively searching for old luggage labels and gathering information on these little-studied but highly interesting pieces of graphic design. He has written a book on the topic of hotel labels soon to be published.
~http://pagina.netc.pt/~nd24322a/index.html

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Hobo Nickels
A colleague mentioned that he has a friend who collects Hobo Nickels. I had never heard of Hobo Nickels, so I went online to find out more. <http://www.hobonickel.net/thestory.htm> tells the story of how hobos carved drawings on nickels and bartered with them during the Great Depression. They are now considered folk art pieces. Here are some more links: <http://localsonly.wilmington.net/mwallace/exonumia/hobo.html>, <http://www.hobonickels.org >.

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8) Newsflash Highlights
See Web Site for Full Details and Continuous Coverage
Go to <http://www.auctionbytes.com> and click on Newsflash.

June 1, 2001
BidBay Bans Competitive Links
eBay Creates Portals Within Its Site
Analysts See Rosy Picture for eBay
David Steiner of AuctionBytes.com Quoted in Wall Street Journal
1850s Hockey Stick Selling at Auction

May 31, 2001
Sellers Angry over Amazon Auctions Marketing Glitch
Email Virus Hoax Circulating
ABFFE Online Auction is Under Way

May 30, 2001
Yahoo "Trounces" eBay in Japan
EBay Rearranges Real Estate Categories
Amazon or Spamazon?

May 29, 2001
eBay CEO Disses Yahoo
eBay Plans Chinese Site
eBay to Redesign Home Page
eBay to Integrate Half.com and eBay Sites
Bigstep to Start Charging for Web Site Hosting

May 25, 2001
Online Auctions Go Postal
European Auction Site QXL Ricardo Releases Financials
NJAUCTION Adds Vehicles to Auction Offerings

May 24, 2001
What Happened to Privacy on eBay?
eBay Move May Impair Auction Management Tools
eBay Chooses LiveWorld to Deliver Discussion Boards
Marvel Comics Characters Go Wireless

May 23, 2001
AOL Raises Price of Unlimited Use Plan
eBay Gives Users Something New to Strive For - Shooting Stars
BidBay Releases New Version of Bulk Uploader
PayPal to Discuss Anti-Fraud Efforts at FBI Press Conference Today
UPS Acquires iShip Assets from Stamps.com

May 22, 2001
Andale Chosen as "Hot 100"
1969 Pontiac Trans-Am Convertible Goes on the Auction Block on May 26th

May 21, 2001
AuctionBytes Writer Profiled in New York Times
Restaurant.com Auctions Gift Certificates
Microsoft's .Net Strategy Comes Under Fire
BidBay Cruises Around North America
UsedBookCentral.com to Challenge Amazon.com

BE SURE AND VISIT OUR WEB SITE FOR COMPLETE DAILY AUCTION NEWS!
The "Newsflash" column brings you DAILY online auction news. Go to
<http://www.auctionbytes.com/Email_Newsletter/newsflash/newsfla sh.html > for the latest online auction news and announcements.

AND NOW YOU CAN SIGN UP TO RECEIVE NEWSFLASH VIA EMAIL!
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<http://www.online-auction-directory.com>
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AuctionBytes-Update ISSN 1528-6703
AUCTIONBYTES.COM CONTACT INFORMATION
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Letters, Comments, Suggestions: feedback@auctionbytes.com
Want to Write for AuctionBytes-Update? Go to http://www.auctionbytes.com and click on "write for us" to view author guidelines. If you are interested, send email to ina@auctionbytes.com.

Ina Steiner, Editor, Publisher and Co-founder: ina@auctionbytes.com
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dsteiner@auctionbytes.com
Michele Alice, Contributing Editor
AuctionBytes.com
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