Online Auction Sites Review
Why Use Online Auction Sites?
Online auction sites effectively remove limits from selling to other people. As a seller, you no longer have to worry about distance or renting space to sell your goods. You can become an entrepreneur and list your merchandise at your desired price and sell in a virtual, open marketplace.
With more people shopping online, the number of buyers and sellers using online auction sites is reaching the millions. Sites that have a high quantity of registered members offer a wider variety of items and potentially better deals. These sites receive more traffic, which substantially increases your likelihood of selling. We found that the best online auction sites are eBay, eBid and Webstore. To learn more about them, read our articles on online auction sites.
Online Auction Sites: What to Look For
The best auction sites offer free features to improve the selling and buying experience, as well as limiting selling fees. Bidding sites that include security features, which keep your financial information private, and allow multiple payment methods attract more customers and increase the likelihood of your success. Strong support sections on the sites can also be very helpful when you're trying to sell. FAQs sections usually list important information about the entire auction process, such as how to list items, set prices, collect payments and leave feedback.
Auction sites that have a large membership pool and recognizable names have the highest selling fees. Well-known sites attract more customers, and more customers indicate a higher demand for your products. As such, the sites that have more members and well-known names charge more fees to do business with them. Together, the fees can make up a large percentage of your profit, especially if you are selling multiple items.
When you sell online, you incur a variety of fees. Most sites charge a seller verification fee, a small charge used to verify that the information you provided to the site is correct. Some sites charge a listing or insertion fee to post your item on the site and a relisting fee if your item does not sell and you want to post it again. If you want to enhance your listings with bolded text, colors or photos, the site charges a small listing upgrade fee. Additionally, a final value fee is charged after your item has sold, which is usually calculated by a percent of the total cost of the item you sold. The fees are small enough that if you are only selling a few items, you will still maintain a large profit margin.
Some sites charge a flat fee to use their services or a monthly store subscription fee instead of charging small fees per item. If you plan on selling multiple items for an extended period of time, flat monthly fees are more cost-effective. In addition to the online auction fees, most payment services, such as PayPal, charge an additional 2 percent or more per transaction. When you are pricing your merchandise, take into account the various fees both the auction site and payment services will charge.
The top-rated online auction sites offer a wide selection of features to help you sell your items. Features such as advertising and set price listings attract customers and increase item views and sells. The more eyes that see your product, the more likely it is to sell. Sites that offer an automatic bidding feature allow users to bid even when they are not on the site.
Auction sites with a high number of registered buyers and international listings only improve the likelihood of selling and make a difference between your items sitting on a site for weeks with zero bids and your listings making you money. Online auction sites that include a third-party resolution center protect you against fraud, unpaying customers and misrepresented purchases.
Feedback options for both the buyer and the seller can impact the entire experience. Customers buy from trusted sources, and their only way of knowing if you are a trustworthy source is the feedback your buyers leave on your profile.
As a seller, you can add several features to your listings to help sell your items. With extra photo options, listing enhancements and the ability to open your auctions to international customers, online auction services provide the necessary features to sell your items. However, those services charge small fees for enhancing your listings.
Online auctions also allow buyers to search for you by username and save your information and view your items regularly, which helps you keep customers for return sales. If you have a poor experience, such as a buyer who refuses to pay, you can block the buyer.
The best online auction sites have features that not only help you sell your items, but also improve the buyer's experience. Sites that equally weigh the buyer's and the seller's needs promote an enjoyable experience and offer you the most success.
The amount of payment options a site offers can greatly affect your experience as a seller as well as a buyer. Different payment options charge fees to use their services. You will want a service with low fees but a credible name. Buyers are more likely to use a payment service they already have an account with or one they know they can trust. As such, the more options you provide, the wider the range of customers you will attract.
Most online auction sites only provide an email address or online contact form, which can be frustrating if you need immediate help. The best auction sites have extensive FAQs pages and community forums to offer support and important information. Some even have video tutorials to help you use all of the features of the site.
With more people shopping online, auction websites have grown and evolved. The sites open up a worldwide marketplace where you can buy, sell or start your own business selling products from the comfort of your home. If you simply want to get rid of unwanted items, you can do that as well with online auction sites.