AuctionBytes-Update Number 57 - December 2, 2001 - ISSN 1528-6703
Please recommend this newsletter: <http://www.auctionbytes.com/Email_Newsletter/Recommend/recommend.html
>
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IN THIS ISSUE:
1) How to Buy Books in Used-Bookstores and Resell them for Profit, Part I
2) Credit Cards and Common Sense
3) This & That
4) Collector's Corner: Protecting Your Collectible Treasures
5) Recycler.com - Worth a Chuckle, At Least
6) AUCTIONBYTES FEATURES
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FROM THE EDITOR
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Looking for Christmas presents for the collector in your life? We have a Café Press store with "Top Ten Online Auction Peeves" items. Visit <
http://www.cafepress.com/auctionbytes> to check it out! These items make
great gifts for friends and family.
Books also make a great present for collectors. In today's Collector Corner, I review an excellent book by a Collecting Diva. We also have practical stories on
book-selling and the common-sense use of credit cards.
One of our readers had expressed a desire to support U.S. troops abroad. Now there is a way thanks to Amazon and the U.S. Department of Defense.
Amazon has created a page within the Amazon Web site <
http://www.amazon.com/saluteourtroops> where anyone can go and purchase a $20 gift certificate to be delivered to a member of the
Army, Navy, Air Force or Marines. It's a pretty neat idea - you can even write a note of support on the gift certificate, and some of the messages will be displayed on the site.
Amazon.com will
deliver all gift certificates to the Department of Defense, which will then distribute them. This is a great way to boost morale among the troops.
Next week I will be reviewing some auction tools that
will boost your productivity - stay tuned!
Ina Steiner, Editor
Email: ina@auctionbytes.com
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Due to this background, the tools not only allow for sellers
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to maximize their efficiency and sell more products. Visit
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1) How to Buy Books in Used-Bookstores and Resell them for Profit, Part I
==========================
by Craig Stark
Perhaps the most persistent complaint I hear from struggling eBay
booksellers is that it's difficult to find quality books, especially at prices that leave room for an acceptable profit, let alone one that will bankroll your next cruise. As a result, many of them struggle
to overcome the dearth of high-end things in their inventories by selling "dogs" in large quantities. Anyone who has sold books via online auction knows how time-consuming it is to prepare a listing,
especially if multiple pictures and detailed descriptions are used. Putting up books that won't generate final values of at least $10 quickly becomes a grind, not to mention a recipe for having your business
take over your life. Who wants to work 60 or 70 or more hours a week for minimum wage?
When I suggest that used bookstores are a reliable source of good books, I'm often met with skepticism, most of
it deeply felt and for seemingly good reason. Many brick-and-mortar dealers are savvy. They know the difference between a valuable book and a throwaway--and price accordingly. Also, compounding the problem,
many of them also sell online themselves, usually congregating on non-auction venues such as Amazon Marketplace, ABE, Bibliofind and the like. Under these circumstances, it seems nearly impossible to beat
the system.
But is it?
Think for a moment about what tends to sell for low prices in a used bookstore, or, for that matter, online venues, which don't support or invite the attachment of
pictures and/or lengthy descriptions. Now think about what does create interest on eBay, and possibilities instantly open up.
Keep in mind that like collectibles, books do not have a fixed value, a
price that is somehow intrinsic to the thing itself no matter where it travels. Prices depend not only on desirability, scarcity, condition, and other (intrinsic) factors but also, and sometimes very
critically, on venue and presentationin other words, on where it's sold and how it's presented for sale.
As an eBay seller, you have two huge advantages over non-eBay dealers, and, if you exploit
them, I guarantee you'll begin to see the vast holdings of used bookstores as an endless source of inventory.
The first advantage is this: your venue is the Earth itself. Potentially every person
walking on this planet has instant access to your books every moment of every day. Compare this to how much traffic a used bookstore gets, and I'm sure you'll agree that there's absolutely no comparison. You
might argue that book-dealers who also list online have this same advantage. But this is only true when buyers know what they are looking for and know where to find their listings. And the buyer must trust
the seller's textual description of the condition, without photos, which is sometimes a large pill to swallow.
The latter point is especially important. I know from experience that many, many of my
sales are the result of introducing a book to a buyer for the first time. Until the buyer saw my listing presentation, he didn't know the book existed. Thus, he would never have purchased it on a site like
ABE, for example, where you generally go when you know what you are looking for ahead of time.
Your second advantage, and no less huge, is that you have the ability to attach multiple photographs of
your book to the listing. This gives the buyer the opportunity to see what he's buying and gives you, the seller, the golden, glittering opportunity to seize his imagination.
In Part II of this
article, I'll show in detail how these two advantages can be exploited to the fullest in your next trip to a used bookstore. In Part III, I'll discuss how to prepare your auction presentations to play into
the strengths of the books you'll (hopefully) find and purchase.
---
Craig Stark is a full-time online bookseller working at home, and currently makes in excess of $1,000 weekly selling exclusively on
eBay. He lists anything that will realize a worthwhile profit, including both antiquarian and contemporary titles. In several months he will launch a Web site at <http://www.braintreebooks.com> and
offer a large selection of hard-to-find, quality books. At that time he will begin listing some of his auctions using the ID braintreebooks. Email Craig at braintreebooks@yahoo.com. Craig also hosts the Book
Forum on the AuctionBytes Website. If you have questions or comments about selling books online, go to <http://www.auctionbytes.com/forum/phpBB/index.php>.
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2) Credit Cards and Common Sense
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by Yisroel Goodman
As a seller on the Internet, I was often amazed at how many people chose to pay via money order. When you think
about it, a money order is the worst possible method for the buyer. It costs the buyer money to purchase and mail. If the seller is dishonest, it is very difficult to recover the payment. Isn't everyone
aware that using a credit card is the safest way to shop on the Net?
Then I spoke to my sources in the banking and credit card industry (the same folks who provided me with the detailed information
on payment services and credit cards posted on my site) and discovered that the story is not that simple. Just as every cloud has a silver lining, every silver lining has its cloud. A payment method that is
fast and easy also carries its drawbacks.
The obvious drawback is the rising cost of merchandise. Whether you see it or not, you are paying more because of credit card use. There was a time when
customers paid the cost directly in a higher percentage. Then credit card issuers forced the merchants to hide these costs. First there were "discounts" for cash. Then these discounts went away and
everyone paid extra, whether they used a credit card or not. In addition to the fees, there is the cost of fraud. Credit card fraud is rising exponentially, and vendors are taking these costs into account.
But since you are paying the same amount whether you use a credit card or money order, why not use your credit card? After all, don't you have charge back rights and limited liability? Yes, a credit
card protects you against a dishonest seller and you won't have to pay the credit card issuer more than $50 if your card is used without authorization. But there is another cost against which you are not
protected and there is no limit to the possible cost. This is the growing problem of identity theft.
A criminal gets hold of your credit card information and some additional information about you,
such as your social security number. The folks who rant on the boards against giving your SS # to Paypal or C2it would be shocked to learn how easy it is for someone else to obtain. There are web sites on
the Internet that will sell this information on anybody for under $10.
Armed with this information, a criminal applies for a credit card using your name, your social security number and a postal box
or apartment rented in your name. He then orders merchandise using that card. Since the bills go to the address he gave, you don't become aware of the problem until months have passed and the bills have
mounted to thousands of dollars. Then you start getting the calls from collection agencies and attorneys.
Of course you can probably prove that you didn't do it and you probably won't even have to
pay $50. But now your credit rating has been destroyed. To stop this criminal from further harm, you will probably have all your credit cards cancelled. So far it hasn't cost you much more than a lot of
time, phone calls and aggravation. Then you find your dream house and apply for a mortgage. Now you have to battle with the bank to convince them that your bad credit rating is inaccurate. Fortunately, if a
bank turns you down for a loan, you can demand to know the reason and possibly challenge it. But if you are looking for a job and every good prospect dissolves, you may never find out that you failed the
credit check.
I can understand why some folks insist on using money orders.
Does this mean that you should stop using credit cards? Of course not. The odds of becoming a victim of identity
theft are small, particularly if you exercise some caution in how you use your credit card. More on that next time.
---
Yisroel (Izzy) Goodman owns Complete Computer Services Inc. and sells electronics
online. He publishes reports about online payment services on his Web site <http://www.ygoodman.com
>. His informed opinions are based on his own experience and from reading about others' experiences with payment services as well as
discussions with users, representatives of the services and experts in the field. (Note: He is not affiliated in any way, directly or indirectly, with any payment service.) Izzy also moderates the
AuctionBytes "Online Auction Services" forum <
http://www.auctionbytes.com/forum/phpBB/viewforum.php?forum=7&99>and writes frequently for AuctionBytes about his assessment of
online payment services.
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3) THIS & THAT
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Cancer Claims Beatle
George Harrison of the Beatles passed away on Thursday after battling cancer.
<http://abcnews.com/sections/entertainment/DailyNews/harrison011130.html>
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Heritage Auctions Makes Significant Changes
Alan Mendelson of MoreDeals.com has written an article about significant changes for Heritage Auctions, including change in ending times for auctions to stop
sniping. Go to <http://www.moredeals.com> and click on "Alan's Notebook."
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Bostonians Go Crazy Today at Collectibles Extravaganza
Today, the 15th Annual Wex Rex
Collectibles Extravaganza will be held at the Suffolk Downs Racetrack, Rt. 1A in Boston, Sunday 9:30 - 5. General Admission is $6.00.
Features 200 tables of pop culture collectibles, including
antique & collectible toys, dolls, action figures, sci-fi, comics, trading cards, Disneyana, video, diecast, and more.
Celebrity guests will sign autographs in person for a fee: Julie McCullough
(Playboy Playmate, "Growing Pains"); Lynne Stewart (Miss Yvonne from "Pee Wee's Playhouse"), Debra Lee Scott ("Welcome Back Kotter," "Police Academy") and Mark Goddard
("Lost In Space"), and more.
<http://www.allcollectors.com>
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4) Collector's Corner
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Book Review:
Protecting Your Collectible Treasures - Secrets of a Collecting Diva
by Ina Steiner
I subscribe to Judith Katz-Schwartz' newsletter, so it was no surprise to me that her new book is as entertaining
as it is informative. Judith is the Erma Bombeck of the antiques and collecting world, and uses the rich material provided by her family to dish out advice in a humorous fashion. Judith's grandmother could
heap out equal amounts of guilt and food, and there was no use arguing with Grandma.
Judith learned a lot from Grandma, including rules of negotiating and tips on cleaning (important skills for a
collector). Grandma's first rule of life was "Never Throw Anything Away."
Judith has picked up many more secrets of cleaning and repairing antiques and collectibles in her career as dealer and
appraiser. Judith founded Twin Brooks Antiques and Collectibles in 1986, and in 1987 she opened an independent appraisal practice. Judith may very well be the first antiques dealer to take her business
online - she started the Twin Brooks Web site in 1993!
Protecting Your Collectible Treasures sounds like a book you may want to buy and stick with your other reference books, pulling it off the shelf
when you come across a cleaning problem. But I recommend you sit down and read this book from start to finish, and THEN use it as a reference book. First, it's entertaining. But more importantly, Judith
tells you how to PREVENT possible problems with your collectibles and gives lots of other useful advice.
The range of items covered ensures there is something for everyone, from porcelain, pottery
and textiles to jewelry and paper. The last chapter is a potpourri of miscellaneous tips and tricks that don't fit into other categories. (Did you know there is an easy way to get the dents out of beer
cans?!)
With her background as a chef - Judith earned a Graduate Chef's Diploma from Le Cordon Bleu - Judith whips up some terrific "recipes" in this book guaranteed to clean your precious
treasures. And since most of us have the basic "ingredients" on hand - ketchup, baking soda, salt, vinegar, lemon juice, and cream of tartar - it won't cost a fortune.
The book is easily
portable. It's a 9" x 6" softcover of 128 pages, but has more useful advice - that can be put into action immediately - than many books two or three times the size. This book makes a great present
for the collectors in your life, and while you're at it, get one for yourself!
You can purchase Judith's book online at Amazon <http://www.amazon.com/exec/obidos/ASIN/1564773884/auctionbytescom
> for 20% off the list price of $12.95, totaling $10.36, plus s&h.
Judith will sell you an autographed copy on her Web site for
$12.95 & $4.05 s&h (in the U.S.) - go to the site for details <http://www.msjudith.net
>. And while you're there, sign up for her free e-newsletter, "Antiques and Collectibles."
"Protecting Your Collectible
Treasures: Secrets of A Collecting Diva" by Judith Katz-Schwartz is published by Martingale & Company.
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5) Recycler.com - Worth a Chuckle, At Least
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by Ina Steiner
Recycler.com is a print-plus-online
classified-ads venue. It's a kind of "eBay meets the classifieds" site where you can list items for sale and browse for items you need. Categories include almost everything, from "Animals
& Pets" (Dogs, Cats, Birds, Livestock, Pythons & other things that go bump in the night) to "Travel, Events & Entertainment" (Tickets, Dining, Special Occasions & other reasons
to leave your house - with your laptop, of course).
I went to the site map at <
http://www.recycler.com/asp/infomap.asp> to scout around, and it lead me to the 'cool ad of the week' section here: <http://www.recycler.com/asp/coolads.asp>.
"Laser Machine for laser eye surgery, made in 1989, possibly works! Lots of valuable parts/accesories, originally cost close to $100,000 Take
it for $100 OBO"
Possibly works??! This seller should consider buying this item: "Lie detector: includes microphone + telephone hook-up. Works over the phone! Small and easy to carry
around. Retail: $16.88. Sale: $10."
As well as the entertainment value of this site, you might actually find some inventory here to sell on auction sites! Look at this ad:
"Pinatas,
over 85 of them, all are yellow happy faces, and about the size of a basketball, all brand new with tags, used for a movie promotion, $199 OBO"
These Pinatas could do the trick for some really
frustrated eBay users - "take that, you smiling happy face, you!"
For auction users wanting to go back to their roots but still take advantage of technology, this may be the site for you.
The company announced on Thursday that it will offer iPIX technology to allow sellers to post pictures to accompany their classified ads.
Recycler.com is the online version of Recycler Classifieds, a
weekly classified advertising publication with almost 30 years of history in Southern California. Purchased by the Times-Mirror Company in 1998, Recycler is a standalone business operation of the Los Angeles
Times.
As for me, I'll be tuning in to the "ad of the week" for a few chuckles. It's free (OBO).
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6) AUCTIONBYTES FEATURES
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GET DAILY NEWS: Read news about the online auction and collectibles world. Send a blank email to: auctionflash-subscribe@topica.com
SHOP FOR AUCTION-RELATED
PRODUCTS: Go to the AuctionBytes Yellow Pages where you can find supplies for collectors, auction-management software and more.
http://www.auctionbytes.com/cgi-bin/bizdirectory/biz-dir-index.pl
POST A QUESTION: The AuctionBytes Discussion Forums are a great place to post a question and learn about selling online.
http://www.auctionbytes.com/forum/phpBB/index.php
READ BACK ISSUES: Read 2 years of AuctionBytes newsletters!
http://www.auctionbytes.com/Email_Newsletter/email_newsletter.html
CHECK
THE AUCTION FORECAST: Dave's Interactive Auction Calendar forecasts whether it's a good day to start your online auction.
http://www.auctionbytes.com/Email_Newsletter/calendar/calendar.html
Go to
http://www.auctionbytes.com and find links to these features and more (look for links in the left-hand column).
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AuctionBytes-Update ISSN 1528-6703
Ina Steiner, Editor, Publisher, Founder: ina@auctionbytes.com
David Steiner, President, Founder: dsteiner@auctionbytes.com
Michele Alice, Contributing Editor
AuctionBytes.com
c/o Steiner Associates
PO Box 668
Natick, MA 01760
508-655-5697
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