1- The first thing you have to do is research. Check the internet for some nice online auction sites like eBay. Once you have narrowed down the list, sign up and become a member. What is great about these sites is that the right kind of people will visit your online auction. These sites are well established and so, a huge number of potential customers frequent the sites everyday.

2- If you don’t want to deal with the hassle of handling personal checks, open an account with a secure online money market website (Eg. Paypal, AlertPay). Once your product is sold, the customer can deposit the cash in your money market account. You can then transfer the cash to your bank account.

3- After you have opened an account with the online auction website, decide on the items that you want to put up for the auction. These items could be objects that you have wanted to discard, vintage or handmade items. Just about anything can be sold on these websites.

4- It is important that your listing has a professional touch. Don’t put up blurry looking images of your product and as far as possible, use natural light as opposed artificial light. Remember that the images of the product can mean a difference between losing or closing a deal. So capture sharp images of the product from various angles and also ensure that flaws, if any, are visible. It is best not to hide the flaws, so that the customer does not reject the product at a later stage. Be honest and write a good description of your product. This is the most time consuming step, but when you close the deal, you will realize how important this step is.

5- Fill out all the auctioneer’s details on the website, and then set the starting bid price.

6- Most auctions last for about 7 days. On your account page, you will be able to view the number of potential customers who have saved your item for consideration. You can also check to see how many people have viewed your item. One thing to note here is, that a number of buyers hope to get the best price at the very last minute and so, will bid when the auction time is almost up.

7- Finally, your item is sold and you are sent an invoice of the deal via email. Once the buyer has deposited the money in your account, you get an email notification. You just made extra cash, sitting at home!

8- The last thing to do is ship the product. The amount that the buyer has deposited will include the shipping costs too ( in most cases). So, you don’t need to spend even a single penny out of your own pocket.

9- Be honest and you will certainly get positive feedback. When buyers give you positive feedback, it will attract more buyers to other products that you might want to sell in the future. Remember that your first auction is a beginning to something that can turn out to be rather grand!

This is going to be an interesting venture where if you adhere to the aforementioned points, you can easily come out with flying colors so make sure to go through Evergreen Wealth Formula 2.0 review, a reputed online course in current times that would help you out.

Published by Luz

I am Luz. I, along with my team, dig to different corners to our fullest. It helps to and serves the needs of the people.