If you want to start making money at home quickly, with little to no investment, selling on eBay is a viable option. There are many advantages to starting an eBay business including:. But even with these advantages, it takes more than posting a few auctions to make a steady income from eBay. Like any business, you need to research, plan and then implement and evaluate your plan. Here are nine steps to getting started and making a living on eBay.
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business - 6 Steps to a Successful Online Auction Business
Making sure that you have a plan for your online auction marketing will help bring in more buyers when auction day arrives — driving up the price of your items! Online auctions offer a unique advantage for buyers, letting them bid from the convenience of their own home, at work, or on the go using mobile bidding. Additionally, they can be from anywhere in the country instead of limited to people living in the surrounding area of the online auction site. The flexibility this provides increases the number of bidders and visibility of those able to participate in the auction but creates new challenges of how to accommodate for the loss of the face to face interaction. The first step of any auction is to figure out exactly what items you want to sell. Maybe you have a set of antique tools or are liquidating assets from a company or restaurant.
Your e-Auction Process as an Essential Step in Procurement
The price competition offered by matching sellers with legions of online buyers was once predicted to be the permanent model of how commerce took place on the internet. Indeed, it led to the popularity of companies like eBay, which, over the past 15 years, perfected the model, only to be joined by other e-commerce giants getting into the auctions business. But now, auctions are almost a nonentity. Online commerce continues to grow, but the share of auction transactions has shrunk. Instead, buyers are paying the retail prices they see.
Last Updated: August 8, References Approved. This article was co-authored by Karin Lindquist. She has over 20 years of experience working with cattle and crops. She's worked for a mixed-practice veterinarian, as a sales representative in a farm supply store, and as a research assistant doing rangeland, soil, and crop research.