Top Sellers Share Sucess Stories
by David Steiner
With over 2.9 million auctions occurring daily on eBay, 800,000
on Yahoo! and a new venture in the works between Lycos, Microsoft and Dell, one thing is becoming apparent: online auctions are a runaway hit in the area of Internet commerce. Online auctions provide a
vehicle for the quickly growing number of Web entrepreneurs who want to avoid the commute to work and conduct business from their home computers. Seems like easy money!
Well, maybe not as easy as it
seems. As anyone who's posted an auction knows, there are some obstacles to overcome: How do I present my item? How do I link a picture to my server? And, most importantly: How do I collect payment when the
item is sold? Multiply these problems (and more) by a factor of 30, seven days a week, and you can quickly become buried in a sea of paperwork, email correspondence and shipping slips. So is it possible to
make a living at online auctions while staying on top of all the work that's involved?
Yes!, according to some of the top sellers on eBay, the most frequently visited of the auction sites. Timothy H.
(Buster44 on eBay) is a collector who has been using online auctions full time since early 1998. On any given day, Buster has well over 200 auctions running. "My sell-through rate is 85-90% on eBay. I
went from selling at antique and collectibles shows to doing eBay full time. I make a living. I'm sure others could as well."
Donna and Dick Haines (
www.oldbooksandpaper.com
on eBay) list between 150-175 items per week. "We got involved in Internet auction sales initially to supplement the sales of our antique shop," Donna said. "Over time, the Internet sales exceeded the sales of the shop, and we made the decision to close the shop and focus on Internet sales." Their Web site supplements online auction sales.
Time-Out
In speaking to these top sellers, you sense that time is their most valuable commodity. Just how much of the day is spent preparing auctions and fulfilling orders? "This started out as a
part-time business," said Donald A. ( donalda@cdh.net on eBay), who primarily sells items geared for adult entertainment. "But it's consuming 40 hours weekly, at this point."
Bob at
Warpnine@warp9cards.com
is part of a husband and wife team that specializes in non-sports trading cards. "This is our main source of income. We run a very successful business and are the only employees, so time can be short some days."
The time-consuming tasks are getting inventory, preparing and listing the inventory, selling the inventory, and fulfilling the order. The rest of the time is spent corresponding with buyers and
keeping the paperwork in order. Dick & Donna estimate they spends "45 minutes per item, total time."
Organization
All of these top sellers have found shortcuts to help streamline the
process. And while they all have different ways of conducting their businesses, the one common thread is organization.
"We have a dedicated image-taking station," Dick Haines explained,
"a dedicated shipping area, inventory areas and a homegrown database that I have developed over the years."
"I've found a way to download information from eBay directly into an Excel
spreadsheet," Donald said. "It eliminates 95% of my keystrokes."
Buster, on the other hand, uses his own method for record keeping. "I can tell you about every auction I have ever
run by referencing my green Steno pad."
Finding Inventory
Being a casual seller is one thing, but if you are thinking of doing online auctions full time, where do you get the items to sell? Some
sellers, like Bob (Warpnine), get inventory directly from manufacturers, some sellers use overstock from their retail operations, and some sellers, like Buster, find inventory at yard sales, auctions and
dealers.
Just like any small business, online auction entrepreneurs must adjust their focus to the market. What's hot one day may be ice-cold the next. Being stuck with a roomful of Pogs just as the
market for them is going south can present a serious problem to the seller with money tied up in inventory and too little space to store it. Another problem new auctioners might not anticipate is what to do
with unsold merchandise. Some dealers store them away for future selling (storage space is a luxury not everyone has), some use free auction sites to get a new audience, and others sell overstock to dealers
and thrift shops.
Tips for Newbies
So what are some tips that the experts offer to the novice online auctioneer? Research the items you're going to sell, advise Buster and Bob. Do a completed auction
search for your item and see what similar items have sold for.
Donna recommends writing a detailed description when posting an auction. Take good, clear images (multiple images in many cases). Start
with items that can be packaged and mailed quickly and easily. Packaging can get expensive, and finding packaging for odd-sized items can be both expensive and time-consuming.
Not exactly the
get-rich-quick scenario you might have thought. Creating a business doing online auctions requires careful planning, dedication, long hours, and not just a little competitive spirit. But as these top sellers
demonstrate, online auctions can indeed be a significant source of income.
A Picture's Worth a Thousand Bids!
by David Steiner
What sets a successful online auction apart from one that suffers a lonely, agonizing death? Well there are many elements to a hot auction, not
the least of which is a good picture of the item you're selling.
How many times have you scanned auction listings and found dark, fuzzy images that are off kilter, or the item is indistinguishable
from the background? Your picture is the only opportunity for potential buyers to see what they are bidding on. A few simple techniques will enhance your item's chances of being sold.
1. Don't take
hand-held pictures of your item, if possible. A steady camera makes a much sharper image. Put your camera on a tripod, or a table--anything stable. 2. Make sure your camera is FOCUSED! If you're using a
video camera to digitize pictures, turn the auto-focus feature off, zoom in as far as your camera will go and focus on the farthest point on your item. When you zoom out, you will be focused for the entire
depth of field. 3. Light your item. You don't have to go out and buy professional lighting equipment. A drop light or lamp placed near the camera and pointing toward your item will do. Make sure that your
item is significantly brighter than the background. 4. If the light casts dark shadows on your item, wrap a piece of aluminum foil around cardboard, and reflect some of the light from the lamp toward the
shadows. This is known as "bouncing" light and helps fill out the dark areas. 5. Use a pleasing background for your item. Go to a fabric center and get some remnants of solid-color material. Try
to use a color that's complementary to your item. 6. Fill the picture frame with your item. Don't make the item a speck in the picture. People are buying your item, not the wall it's leaning on. 7.
Show as many detailed angles of your item as possible. For example, if you're selling a piece of pottery, take a shot of the entire piece; take a shot of an interesting feature; and take a shot of the
marking to show that it's genuine. If your item has a defect, don't try to hide it. Take a picture of the defect. It MIGHT cut down on the number of bids you get, but the people who ARE bidding on it will be
fully informed as to the condition of the item. 8. Try to keep your images no larger than 50-60 kilobytes. Experiment with your digitizing software and find the best combination of picture quality and
compression. The faster your picture loads, the more likely that people will look at it. Take a little time to experiment with these techniques. It may take a few tries at first, but the main
rule is to make the picture pleasing to the eye. The reward will be increased activity on your auctions!
Photo Resources
Log on to www.ebay.com
and under "welcome," click on "how do I sell." There's a hyperlink "photo tutorial" that shows you how to load your photos.
AuctionWatch.com ( http://www.auctionwatch.com
) offers free image hosting. The Digital Camera Resource Page, http://www.dcresource.com
, has lots of info on digital cameras. Other sites:
http://www.imaging-resource.com
http://www.kodak.com More tips on AuctionBytes.com
http://www.auctionbytes.com/Yellow_Pages/Pictips/pictips.html
Searching Online Auctions:
Using eBay's Wildcard Feature to Get Results
by Ina Steiner
When you enter a search term in eBay's search box, you may not be finding all the auction items that are
there. Suppose, for example, I'm looking for a Barbie doll. I enter "Barbie" into eBay's search box and the auction site finds all the auctions with the word "Barbie" in the title. But
what if someone had entered "Barbies," not "Barbie," when they created their auction item title? It wouldn't show up in my results.
If you want to make sure you are finding all the
appropriate items, try using eBay's wildcard feature. In the case of my search for Barbie dolls, I would enter the term "barbie*" to retrieve find Barbie dolls. This will retrieve Barbie and
Barbies as well as anything else beginning with the first six letters B-A-R-B-I-E.
Be careful when using wildcards. If you put in "Bar*" you are going to find a lot of items having nothing to do
with Barbie—bar, barware, Barbara, bargain, baroque, even purple Barney dinosaurs!
Each search engine is different, so check your favorite online auction site to see how they treat wildcards. And keep
this in mind when creating titles too. (For example, you could put "Barbie/Barbies" in your title.)
Search for Barbie Dolls
"Barbie" finds Barbie and Barbie- and Barbie's, but not Barbies
"Barbies" finds Barbies, but not Barbie, Barbie- or Barbie's
"Barbie*" finds Barbie, Barbie's, Barbie-, and Barbies
Search for Woolworth's Items "Woolworth" finds Woolworth and Woolworth's, but not Woolworths
"Woolworths" finds
Woolworths and Woolworths-,but not Woolworth or Woolworth's
"Woolworth*" finds Woolworth, Woolworths, Woolworths- and Woolworth's
Where Can I Get Bubblewrap?
by Ina Steiner
Prices of Bubble Wrap:
(3/16" bubble size; 12" x 175' rolls;shipping & handling not factored in) Staples Catalog 800-333-3330
468264-41 $17.95* WB Mason 888-926-2766
SEL-88655 $21.14 ULINE 800-295-5510
S-1012 $22 Chiswick 800-225-8708
81-12175 $25 National Bag 800-247-6000
87-600C3 $41.90 Consolidated 800-362-1000
87600KM $41.90 Online Auction Sites: Log onto online auction sites
and search for bubble wrap! (Some sites, like Amazon.com and Yahoo!, search the entire item description, not just the title. Unrelated items will show up in your results.) Remember to use the same caution
that you use in buying other items on online auction sites. *Staples catalog price. If you go to a Staples store and the price is higher, show them the catalog price and they will meet it, according to a
phone rep. (Staples stores do not carry everything in the catalog.) Bubble sizes vary as do sizes of the rolls. Be sure to compare similar items when you are shopping for the best prices. These prices do
not include shipping. WB Mason says it delivers for FREE. Staples will deliver free if order is over $50. Email ina@auctionbytes.com
if you have a cheaper source for bubble wrap! If you have ideas on FREE sources of mailing supplies, let us know and we'll write an article. Pop Some Virtual Bubble Wrap at http://fathom.org/opalcat/bubblewrap.html Getting Inventory: Mining Yard Sales
by Michele Alice
Yard sales can be a cheap source of collectibles and other items to sell on online auctions. I've found Stangl vases, old toys and many other collectibles. People giving yard sales are glad to clear out
their basements and are unwilling to go through the effort of finding buyers through classified ads or online auctions. What to Buy
To find out what's hot and what's not, browse the online auction
sites, including completed auctions, to see what's selling and for how much. Experience is the best guide, but keep the following points in mind when deciding whether to purchase an item at a yard sale.
1) Scarcity. The less of something relative to demand, the more people are willing to pay for it. Why are Japanese tin toys from the '50s and '60s so valuable? Because Baby Boomers are beginning to collect
them, but most were thrown away!
2) Intrinsic value. Gold, silver, or any other precious material (there's scarcity again!) affects value. Real scrimshaw is valuable, not just for the artwork, but because
things like walrus tusks are relatively rare. (If the piece you are examining is plastic, a hot pin will melt it; real ivory will smell like burning hair.)
3) Aesthetic value. This is somewhat
subjective, but if you think something is beautiful or pleasing, so might others. At the very least, you'll own something you will enjoy. In other words, if you like it, buy it.
4) Condition, condition,
condition. Anything in original or mint condition is going to be worth more – sometimes a lot more – than the same item in only fair condition. An original box can double an item's value.
5) Trust your
instincts. As you learn more and become more practiced, your intuition will also develop to a tremendous degree. Just remember, even experienced professionals make mistakes. (And what do you do with all your
"mistakes"? Hold your own yard sale!) Preparing for the Campaign
Organization is critical to making the most of your valuable time. You should have a good road map before you begin, and bring
a pad and paper to record pertinent information as you go. (The more things you buy, the less reliable your memory.) Get the classified ads from your local newspaper. Highlight and number the sales in which
you're interested and place the corresponding number on your map. If you spot something you are particularly interested in, you might consider calling them ahead of time. (You can use a cross-reference
directory available at your public library that allows you to look up an address and obtain the telephone number.) Be aware that you are tipping your hand. Expect to pay more for the item. It's wise to bring
boxes or bags to carry items while you browse. Keep packing material for fragile items in the trunk of your car. There's nothing more nerve-racking than listening to the clink-clink-clink of breakables while
you drive. Bring plenty of change and small bills. I've never been to a yard sale yet that accepted credit or debit cards, and most don't look kindly upon personal checks. Finally, bring something to eat and
drink. Don't laugh. You can spend the whole day on the hunt, and it doesn't hurt to keep yourself hydrated and your blood sugar up. Okay, now you are ready. Striking a Deal
Most yard-sale hosts expect
people to dicker, so don't be shy about making a reasonable offer (usually up to half of the marked price – use your judgement!). The later in the day, the less likely you are to find that special find, but
the more negotiable the price, as people imagine having to drag all the unsold items back to the basement! And remember–you're more likely to get a good deal if you're friendly and polite and not denigrating
or ill-mannered. One exception to the dicker rule: If the host is a charitable organization and the price is reasonable, don't quibble–it's for a good cause. Final Thoughts
The chase itself can be fun,
but depending on your part of the country, it may be limited by the seasons. Don't forget that Salvation Army and Goodwill thrift stores are open all year and are themselves great sources for unusual items.
You may find it rather slow-going at first, but, with practice, you'll be able to quickly separate the wheat from the chaff. And who knows–you may find that Tiffany lamp for $15 or that Rookwood vase for $5.
It has happened! Michele Alice is a writer in the Berkshire mountains of Massachusetts, where you can find her yard-saling every weekend. |
