Selling Online With EBay ? Auction or BIN?

Selling Online With EBay ? Auction or BIN?

The bountiful world of eBay offers retailers a spectacular venue for selling products to a worldwide base of customers. Selling on eBay is great for both the novice entrepreneur and the established business that is simply looking to broaden its market niche. However, when setting up your online presence, you need to take stock of several factors, including what you will sell, the logistics of how you will deliver product and process payments (including currency conversion for international customers) and, most importantly, how you will sell. By this, I mean that you have two choices as a seller in eBay, you can put your merchandise up for reserve or non reserve auction, or you can sell direct through their Buy It Now option. Here are a few of the pros and cons with both options, to help you find which will better suit your business.

 RESERVE AUCTION

Placing your products into an auction set to meet a reserve price is a good idea if your product is a high dollar item, if it is something big or valuable, such as a classic car, a rare collectible, jewelry, or any valuable that you want to make sure to protect a certain level of value for. Say you have a rare baseball card that you want to sell at auction, to try to maximize your profit. What the reserve does is it allows you to set a minimum price that you must get for the product at the completion of the auction, and if you fail to get it, you are not bound to give the item to the person who bid the highest (but did not meet your reserve price). This is great for protecting value, but often makes it difficult to move your products, so it is best not to pick a reserve auction unless you are certain your product will generate a lot of interest, and will be seen as a must have for your potential buyers. 

NON RESERVE AUCTION

The non reserve auction allows you to sell your product at auction to generate the highest bid, but without the protection of guaranteeing a minimum selling price. The benefits of this are that you will likely move the product or item fairly quickly, for non reserve auctions tend to attract more bidders, as potential buyers think that they have a chance to acquire a real bargain. This generates interest. The biggest down side is that you are stuck with whatever the highest bid ends up being, which could easily be significantly less than your ideal price, and maybe even less than what you require to return a profit. Non reserve auctions are good for items that, while possibly rare or high priced, for whatever reason do not generate significant interest on their own merits. Or, they are good for moving items that you have little capital invested in acquiring and storing, so you have little to lose, and you simply want to move the product quickly.

 BUY IT NOW

Buy it now is for items that you either have a large inventory of, and want to move immediately (without having to wait for the completion of auctions) or where the eBay market is so saturated that you are unlikely to generate a lot of bids from an auction.

 A Good EBay Business Will Go A Long Way If You Know How To Improve Sales And Boost Your Inventory Potential, Visit www.ExtremeEbay.com .  Expanding Your Inventory Will Increase Sales.  Learn How To Make 6 Figures On EBay, Visit www.ExtremeEbay.com

 Johnny Q

A Good EBay Business Will Go A Long Way If You Know How To Improve Sales And Boost Your Inventory Potential, Visit www.ExtremeEbay.com .  Expanding Your Inventory Will Increase Sales.  Learn How To Make 6 Figures On EBay, Visit www.ExtremeEbay.com

 Johnny Q

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