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Online Auction Tips   by Nikki Willhite I love eBay. I have never been to a public auction, but I spend a lot of time on ebay. I sold on ebay for many years. I have also purchased many items through the years. There is an incredible variety of items put up for auction on ebay. I must admit that every so often I type grand piano in the search box, and drool over the Steinways.  These pianos usually have multiple bids on them, and sell for well over five figures. Ebay is a great place to both save and make money. If you are a crafter, it is great place to sell your crafts, year round. I have sat at a craft fair all day. I about went crazy.  It is so much easier just to list your items, and let the Internet do the work. You may have items around your home that are of value that you may wish to sell. The key to selling anything effectively is research. You need to browse around the site you wish to list your item. See what other people are selling. Read their listings. Look through their feedback. Look at their prior sales. Did their items sell, and if so, how much money did they get from them? As far as buying things, you don't want to get carried away.  However, there are incredible deals to be found. Try searching for things like children's clothing, toys, jewelry, collectibles, books or whatever you need. The secret to winning auctions is to come in at the end and make your bid. See how much time is left, and then put in your bid 5 minutes beforehand. I've also found Auction Stealer to work well.  You can place a few bids each week for free. When you bid on ebay, if you really want something, you will want to place two bids.  The first bid will go just above the last bid placed on the item.  The second bid will be the highest price you are will to bid for an item if there are other bids. If you place a bid on an item and you are told that you have been outbid, it means someone else has placed a higher bid and it has gone into effect with your bid. You can keep trying to get above them by placing a higher bid.  However, if the item is popular, your best bet will be auction stealer. One thing to watch for is the postage. I never buy anything unless the seller states how much they want for the postage.  Always check the feedback of the seller.  Be wary of buying something from someone who is new to ebay.  I know a lot of people who never received items they paid for. If you see a lot starting price on an item, but the listing says"reserve not yet met,"  this means that the seller has set  a price and they will not sell below that price.  They want to get people interested in their item and start bidding, with the hope that the price will rise to the desired level.  Unless the bids on their item reaches that price, it will not be sold. Safeguards There are several things you should do when buying to protect yourself. As previously mentioned, always check the feedback of the seller. There are also safeguards when you use Ebay's checkout, and pay with a service like Paypal. I have been using Paypal for a long time. It is a wonderful convenience for the sellers and buyers. You can pay with money from your bank account, a check or a  credit card. The seller receives the payment right away, and you receive your merchandise quickly Sellers are protected in several ways. If a buyer refuses to follow through on the sale, eBay will contact them for you. If they still don't pay, eBay will refund your listing fee. You have access on your selling page to all the people who have bid on your item. If the winner of the auction does not follow through, you can also contact the other bidders and ask them if they would like to buy your item at the price they bid.  If you have a similar item for sale, you may also offer it to the next highest bidder. Note:  Ebay makes changes to how they handle selling fees.  Current if you list items under .99 cents, there is no selling fee.  If you want to sell on ebay, be sure and read their tutorials. To Protect all Buyers  always post feedback about your transaction. When you register with ebay, you have a section called "My ebay". This is where a record of your transactions is kept, and you post your feedback. Buyers who don't follow through receive a warning. After two warnings, they are banned from ebay. Occasionally I have a buyer who claims to have never received their merchandise. I contact other people they have dealt with to determine their credibility. Online auctions are a great way to pick up some extra money. It can be fun, both buying and selling. Be warned, however. The average person who visits eBay spends 45 minutes there. Used wisely, however, online auctions can be a great place to both save and make money. About the Author: Nikki Willhite, mother of 3 and an interior design graduate, has been writing and publishing articles on the topic of frugal living for over a decade. Visit her at www.frugalhappyfamilies.com - where you will find hundreds of frugal living tips and articles. Frugal Happy Families- more than just money!  Article first published at www.allthingsfrugal.com

 

 

 

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