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Featured auctions CAN drive a lot of traffic to your auction. They are definitely attention getters, but they are also extremely expensive, and therefore should be reserved only for high-priced
items.
The gallery option, If used with discipline, can be of benefit for the right items. For most auctions, especially low value items, the benefit of using the other add-ons is marginal and does not merit the cost.
Additional images. eBay provides a single image with your listing. After that, each additional eBay image will cost you $.15 per image, which is relatively expensive. We highly recommend using more than one image, so
your challenge is to find an inexpensive source of hosting space for those additional images. Most internet providers "give" their customers a certain amount of hosting space with their basic account. 2 MB, 5 MB, 10
MB - it depends on the service. 2 MB of hosting space will hold a lot of images (40 images at 50k apiece). Some internet providers will sell you additional hosting space at a relatively low cost so you might want to inquire
there first. Otherwise, you can buy hosting space inexpensively from a myriad of hosting companies.
Use Priority Mail whenever possible. Free boxes, free tape, free labels, fast service. All you have to do is ask the US
Postal service for them. Many buyers are willing to pay the premium in order to receive their item more quickly.
Locate inexpensive sources of shipping and packing materials. If your buyers prefer media rate or if you're
shipping internationally, you'll need packing materials. Buy in bulk, and shop around. Check the wholesale outlets, liquidators, and the surplus market. eBay is a great place to buy mailing materials. Don't buy them at Office
Max or Staples unless you find a great sale.
Don't automatically or repeatedly re-list an item if it doesn't sell. Review your listing. Are the images loading? Check other similar items that have sold on eBay and compare
those listings to your own. Is your price too high? If it is, lower it to 25% below the eBay market value (the price at which similar items sell). Is your auction listed in the right category? After reviewing your listing,
re-list it once. The first re-list is free, but only IF THE ITEM SELLS. If your item doesn't sell on the second try, and you are intent on selling it, wait a month and then re-list. Re-listing an item repeatedly without
determining why your item isn't selling is a sure-fire way to lose money.
Paypal. We highly recommend that you use Paypal because it can increase the number of bids your item may receive. A lot of buyers like using
Paypal. But using Paypal comes at a cost to the seller. We're listing it here because you should consider the cost when assessing your profit.
Other auction management services - auction software. Auction management
services are another factor which increase expenses and eat into profits. If you're a relatively low-volume seller, there's really no reason why you can't draft and send your own e-mail invoices and manage your auctions using
the hardcopy binder method that we already described.
How about your time investment? Once you've been selling on eBay a while and begin to understand the time required to go from preparing an auction
listing, to your item being received by your customers, you should reflect upon how much you are being paid on an hourly basis. If you spend a total of one hour to photograph, list, manage, package, and mail a paperback book
that nets you only 50 cents, you're only being paid 50 cents per hour for your efforts. You're probably not selling the right type of item. When selling on eBay always consider the time investment required versus the potential
profit. Invest time in auctioning high profit items and avoid selling the low profit ones.
Keep your costs to a minimum - a summary
Don't automatically choose the gallery option. Be discriminating in what you put in the gallery.
Avoid 10 day auctions because they cost extra. Use 7 day auctions whenever possible.
Don't be in a rush to list
your item in more than one category. Pick one. If your item doesn't sell in that category, try another when you re-list.
Don't choose the "featured item" or "bold title" options.
Don't post
more than one image on eBay. It is prohibitively expensive to post additional images on eBay's hosting service. If you are regularly posting more than one image per auction, find an inexpensive or free image hosting service.
Don't automatically re-list an item that does not sell on the second try. Try again a month later.
Use Priority Mail whenever your buyers will accept it in order to reduce shipping material costs. Plenty of buyers
don't mind the additional cost and will appreciate the quick service they receive.
Be on the lookout for sources of free or inexpensive boxes and shipping materials. When necessary, buy shipping materials in bulk and on
sale.
Don't buy an expensive mail scale. Use a bathroom scale for heavier items and purchase a cheap kitchen scale from a discount store or thrift store for lighter objects.
Shop the thrift stores for cheap
photography equipment such as tripods and video lights. Use a piece of scrap corduroy or velvet as a backdrop for your photo shoots.
NEXT: What not to do
Introduction
Where to buy books to sell on eBay
Planning your auction
How to write an auction title
How to write an auction listing
Auction item photographs
How to maximize your selling price
After the auction
What if the buyer doesn't pay
Maximize Profits - Keep your costs to a minimum
What not to do - a summary
Top Ten Seller Tips
Register on eBay
Buying on eBay - buying tips
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