Home » Internet » Auctions

Creating A Retail Business Online

Nov 30, 2007
Online auctions have allowed people with little business experience to become successful retailers in a mail-order business of their own. It has also sparked the growth of many sideline businesses that may or may not be of service to an auction seller. Many successful sellers started out cleaning out their attic or garage and eventually made selling on auctions a full-time business and career.

There are numerous success stories about people who were able to make the move from rags to riches by selling a variety of merchandise through online auction sites. There are tricks to making money through online auctions and a few people are making money selling what they claim are the secrets to selling on an auction. Essentially, there is no real secret or trick to making money by selling merchandise through an online auction.

It's really a simple concept, in finding a line of in-demand merchandise that you can buy at rock bottom process and sell at a higher price. No secret, just common sense. However, if it really is that simple, there would be lot more auction millionaires than you read about in the newspaper. Finding the next hot item can take a certain gift in being able to track the trends in everything from clothing to home appliances. Chances are, by the time the average auction seller comes across a really hot seller, it's too late.

They may buy a large inventory at a reduced price hoping to cash in on the item's demand, and wind up with no bidders and a lot of stuff in their basement. If you think you have the best thing since pockets on a shirt, only buy a couple of them for your inventory. Use a good quality picture and spell-check your write up and start the bidding at a reasonable price. If the items sell quickly, it may pay to pick up a few more of them and continue selling them.

Once you find a line of merchandise that sells extremely well, stay with it. For example, if you can get your hands on sports memorabilia at a really reasonable price, regardless of where the team is located, it can prove valuable on an online auction. Your buyers are coming from around the world and there is a fan for every team in every state and in most countries. Do not limit the team merchandise you sell based on your geographic location. If people in the team's area want the merchandise, it can probably be found in the team's sport shop.

Whatever you do when selling at an online auction, do not make the buyer wait for weeks to receive their merchandise. If you promise the merchandise will be shipped within so many hours after receipt of the payment, ship it faster. Insure the expensive items at your cost if the buyer chooses not to pay for the option. A couple of bucks for insurance can save a lot of aggravation later.

Copyright Jim Sperlich
About the Author
Please Rate:
(Average: Not rated)
Views: 305
Print Email Share
Article Categories