Tips for online auctions Have you ever thought about using online auctions to sell stuff you have laying around the house? I know I have. If you have never done this before it may seem a little intimidating but no fear, it’s really quite simple. First of all you must decide which format will work best for you. The most common formats are: Traditional Auctions: You can choose a reserve price and a starting price, bids climb upwards. Dutch Auction: An online auctions Dutch Auction allows several identical items are offered for sale together, and bidders have the option of buying any number of them, from a single unit to any combination they desire. Bulk Listing: A bulk lot listing works much the same way as a traditional auction except that it consists of multiple items that are all sold at once to the winning bidder for one price. Classified Ads: are great ways to showcase your business or your items without having to provide any type of selling price. This format allows dynamic communication between a buyer and a seller and leaves room for negotiation of price or the possibility of a trade. To see some classified ads in action, click here Fixed price sales: provide another alternative to auction formats. These sales provide an easy way for buyers to locate and purchase you item instantly. Using this format also allows you to sell multiple quantities of the same at a set price. An example would be selling 30 pair of shoes at $29.99 each. You could sell 4 pair to buyer A and 8 pair to buyer B or any other combination of transactions. Additionally there are a lot of individuals who prefer to buy this way for many reasons. Once you have determined which format you will use follow these 4 simple tips for creating a quality listing then sit back and collect your money! 1) Provide an accurate title This is key to your item being found by potential buyers. The search boxes in most websites search by title. 2) Give a detailed description. By providing a detailed description you can eliminate unnecessary questions from buyers that could have been answered in a description box. 3) Use Quality Photos As they say ´A picture is worth a thousand words´. And there’s no need to worry, anyone can take a good photograph. Just find a background (a sheet works fine) use a well lit space, fill the camera frame, steady you hands and that’s all. 4) Know the value of your item Finally, know the value of your item. If you price too high it won’t sell. If you price too low you’re going to loose money. GOOD LUCK FROM JAY SUGARMAN ONLINE!!! Jay Sugarman Online’s Underground Blog: Tips for online auctions