I have previously gave a basic blog on How to Make Money Online. In that blog I just mentioned a few ways to make money online. Then I followed that one with another blog that was a little more specific to the Affiliate Marketing method of making money online. See these blogs by clicking on the appropriate links above.
Now I will share a little about the Online Auction method to making money online.
Many, many people make huge amounts of money online by using online auction sites. Some of these sites are just like going to a real auction. You see something you want and you put a "bid" on that item. There is usually a time limit set for the auction to end on that particular item. At the end of the auction, the person with the highest bid wins. The winner pays the bid price and the item is shipped to the winner. Other sites allow you to post items for sale. You will pay a small listing fee for this item or there are some sites that will allow you to list your item for free. If there is a listing fee, this fee is taken out of the final sale price. You place a time limit on your item and at the end of that time, you recieve the amount of the highest bid, minus your listing fee if one was charged. You then ship your item to the winner.
Now, how do you make money on an auction site? Pretty simple, actually! You go to an online auction site and you find items that are of interest. You place your bid until you win. The item gets sent to you. You then turn around and re-list this product at another online auction site. Of course, you need to get this item at a reasonable bid in order to be able to make a little more elsewhere. So, you will need to learn when to bid and when not to bid. If you place a bid and someone places a higher bid, then you obviously have no further obligation to bid higher.
There are programs available that you can get that will help you research almost any product available at any auction site. These programs will tell you how many of an item is available, what the average list price is, what the average winning bid is and many other stats. Using one of these programs is almost a must when you first start. Eventually you will have a good idea of what items are most profitable at online auction sites.
Another example of finding items to list on online auction sites is simply cleaning out your garage and finding items that you no longer want or need and listing those for sale. You would be surprised at what you can find laying around that you could list on an auction site.
The sites that allow you to list items usually do not have any interest in what your product is or what condition it is in. Most online auction sites will not allow you to list pornography, illegal drugs, or anything else that is illegal or offending to the general population of users. On the other hand, your item could be pretty much anything. If you have an old baseball that you caught in a Cincinnati Reds ball game or a brand new baseball that never has been taken out of the plastic that covers it, both could be listed. Maybe you have an antique artpiece that you found in a garage sale or a headlamp out of a car. Almost anything can be listed at these sites. I once heard that a guy saved, in a jar, the extracts from blowing his nose over a few years and listed it on Ebay. That jar was bid on and won by a university that studied it for some purpose they were persuing. I know that is pretty gross, and I am not positive that it actually happened, but that really is possible on an online auction site. The online auction site never handles the item. All transactions are between the buyer and seller.
Most online auction sites have a feedback system that buyers and sellers can use to "rate" their experience with the other party. So, let's say that you list and sell a pair of skates. The buyer, after receiving the skates, should go back to the online auction site and give you a rating. This rating is based on things like, was the item what you described it as, did they get it in a timely manner, was it in the condition you said it was, etc. Also, you should go back to the site and give the buyer a rating. Did the buyer pay you as your listing requested. Did they give you the feedback that you needed, have they contacted you over and over, etc. These ratings are very important to being successful at these auction sites. If you receive an overall poor rating, or sometimes just less than a great rating, people will not want to deal with you. So, it is very important to list your items accurately and post pictures of the item showing the condition. Also, ship your item in accordance with what you say in your listing. If you do not hear from your buyer or do not get a rating, contact the person and see if there is a problem that you need to address. Do whatever you can or whatever you have to in order to keep your rating high. The higher the better. You will assuredly get negative feedback from someone at sometime, but it is an overall rating that really counts.
Now, let's talk about the big money making way to use online auctions! There are auction sites out there that only auction off items and don't allow just anyone to list. These sites cater to businesses with excess stock. These businesses will list these items on online auction sites and be happy to get what they can for their excess items. The alternative is to throw the stuff away and take a total loss. This can amount to millions of dollars. So, they list them online and get what they can. You can pick up items very cheap this way. The drawback to this method is that you have to deal with inventory. Some people don't mind dealing with inventory. As long as the money is good, they will pay the shipping costs, which they normally pass on to the next buyer.
How do you make the big money? You find an online auction site that lists the products you want to promote. You promote the item(s) however you want and wherever you want at whatever price you want to and when someone purchases the item(s), the auction site packages it and ships it. You get the difference between the auction list price and your price. So all you have invested is your time to market and promote this item. But if you promote it at another online auction site as a product that someone can "buy right now at this price", then you have it as a permanent listing and you just keep making the money. You never have to stock anything! This method is called dropshipping.
So, this is just an overview of the way to make money online with online auction sites. As with any online money making venture, make sure to do your research on this method. If done properly and maybe with a little guidance, you can make a lot of money with this method. To look at some sites related to this method, visit my Home Page at http://www.cashforyoufromhome.com/.
To your success,
Jack
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