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How To Make Money At Internet Auctions

Selling items at Internet auctions like eBay can be a great way to make money.

Here are some ideas for things that you can sell at auctions:
  • E-Books which you wrote yourself
  • Products for which you purchased Resale Rights.
  • Software that you created
  • Collectibles, crafts, etc. (very popular)
  • Items that you purchase from a wholesaler and resell at a profit.
  • Items that you purchase from a Drop Shipper. A Drop Ship distributor is a wholesale company that will ship a product directly to your customer for you. You can get find many listed in various dropping ship guides.
With most auctions you get a page at the auction site to describe your items. You also get listed in the auction site which many people are already visiting. Does this mean you don't need a web site? Actually a web site is still useful, because:
  • Having a web site is helpful as it allows you to describe a product in more detail that in your auction listing.
  • After you have sold a customer your first product via the auction, you can then offer them additional items direct from your own web site.
  • You may wish to use additional forms of marketing additional to auctions.

Advantages
  • Customers are purchasing from you - if they like the product you can offer them additional products/services and sell them those too, later.
  • No limit on the amount of sales that you can (potentially) make.
  • Having a web site is optional.
  • If you use a popular auction site such as eBay you can get your product noticed immediately without having to go through the struggle of getting visitors to your own site.

Disadvantages
  • Most auctions services involve (a small) listing fee.
  • Customer Service - you need to devote at least part of your time to customer service (answering questions etc.)

Step-by-step Plan
  1. Get / Create The Products

    • For E-Books - read the section on that that topic.
    • For Software - read the section on that that topic.
    • For collectibles, crafts, and items purchased from a wholesaler you will need to source them yourself.

  2. Educate Yourself On Internet Auctions

    Visit the following sites:


  3. Set up Your Web Site

    You will need:



  4. Write Your Sales Letter

    "Copy Writing" is a combination of art and science. It is probably the single most important marketing skill you can learn, as without a good sales letter it is very hard to convince visitors to your web site to buy from you.

    There are many good copy writing guides. My suggestion would be to choose one that you like, buy it - and - most importantly - read it carefully:

    You can find copywriting resources (both online and offline) here:



  5. Get Ready To Accept Online Payments

    You must be able to accept online payments, especially payment by credit card.

    • If you wish to sell products delivered over the Internet (such as downloads), you might want to look at ClickBank. They act as a retailer, integrate into your website, and offer an affordable and flexible system.

    • If you need to charge a monthly or periodic fee (e.g. a subscription) you might want to look at Verotel.

    • If you want your own merchant account and are in the USA (this may be the best option if you know you are going to be dealing with a large volume or have already got an established business) go to Electronic Transfer, Inc..

    • More information about accepting payments online can be found here.


  6. Marketing Your Site

    Read the rest of this site.

    Review the following free information sites:


    Consider purchasing (and reading and following the ideas) in one or more of these courses:



 
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