Welcome to the 56 issue of UK Auctionline. I would like to take this opportunity of welcoming the many new subscribers.
From this month I have decided to maker one or two changes to UK Auctionline to make it more relevant to our readers. This section Dave’s Comment will continue to look at issues that effect eBay users. This will be followed by the News section which will be a round up of the latest news and developments. There will also be two new articles each month from me and one guest article.
To further add to the content I will be posting 5 new articles each month to our web site at http://www.ukauctionline.co.uk to coincide with the publication of the newsletter which is normally on the 10 th of the month. In addition to this there will be a review of one eBay related product plus our popular Further Reading feature which covers items of interest from around the world. I am also very happy to receive e-mails from subscribers so that I can include their comments in the newsletter.
I don’t know if you saw the feature about eBay on the BBC program “Watchdog” on Monday 7 th November. In fact eBay advertised the forthcoming program on the eBay Announcements section of the Community page. This was somewhat surprising considering the negative comments from the program's presenters and the fact that eBay were not prepared to put up a spokesperson to present their side of the case.
The subject under discussion was the growth in the number of fake (or pirated) goods appearing on eBay Auctions. The company claim that they do everything they can to fight brand piracy and quote their VERO program as an example of a measure they have taken. However, in the program examples were given of eBay being very slow to take action after being notified of fake branded items being offered for sale.
The problem is not confined to eBay.co.uk as eBay.com is in legal dispute with Tiffanys the jewellers and in France LVMH Moet Hennessey- Louis Vuitton have accuse eBay of not proceeding competently enough against the auctioning of counterfeit items. In fact they are reported to be suing eBay for 37 million Euros compensation.
Although eBay claim they are doing everything in their power to stop the sale of pirated items through their online auctions they point out that with over 104 million articles worldwide for sale at any one time it is not easy to monitor them all. eBay also point out that they just provide the facility for trade and it is the responsibility of the seller to ensure that they are not infringing any branding or copyright laws.
My own view is that something does need to be done to stamp out what is becoming a very real problem. eBay relies on trust and if that trust is ever lost then the whole foundation on which eBay is built could crumble.
My own advice is that if you see something for sale anywhere, let alone on eBay, if it looks too good to be true it almost certainly is.
A recent study has highlighted some interesting information about online buying habits. It found that the majority of those interviewed were familiar with brands such as Amazon and eBay. Those new to purchasing on the Internet tended to buy books, movies and music.
It also found that people were more prepared to buy big ticket items online and 21 percent of online purchaser have bought items costing £500 or more. They also discovered that the under 30’s wanted to be entertained and were more motivated by fun whilst the middle aged buyers were more concerned about online safety and security.
Paypal have now increased the range of currencies that they will accept. Funds can now be accessed in the New Zealand Dollar, Czech Koruna, Danish Krone, Hong Kong Dollar, Hungarian Florint, Norwegian Krone, Polish Zlotys, Singapore Dollar, Dswedish Krona and the Swiss Franc. These 10 new currencies join the existing seven, US Dollar, Australian Dollar, Euros, Pounds Sterling, Canadian Dollar, Japanese Yen and the Chinese RMB.
Carphone Warehouse have been in the news quite a lot recently especially with the
problems with their Talk Talk broadband service. Now they have launched a phones only auction site. www.mymobileauction.com. This it is hoped will give people an opportunity to get something back for their old mobile phone when they upgrade to a newer model.
Since the launch there have been some concerns from both potential buyers and the police that the new site could provide an outlet for thieves selling off stolen handsets.
The company say that they will provide checks on handset identification numbers against the stolen phone data base before allowing them to go on sale.
The cost of listing a phone for sale, and this includes the data base check, will be £1.25.Don’t put all your eggs in one basket
By Dave Bromley
Whilst it is entirely possible to make a good full time living with online auctions you should not build a business based exclusively on eBay. . No matter how well you are doing or how much money you make you are never totally independent if you rely one company such as eBay as your sole source of income.
It can be argued that if you do this you are little more than an employ of that company, albeit a very well paid one. In some ways you are like a manufacturer who relies on one supermarket to take all his output. If the supermarket cancels the order you are out of business and it can be the same for you if eBay suspend or ban you.
This may seem an unlikely event but another scenario might be that eBay increase their fees to a level that makes it uneconomic for you to continue. But whatever the reason it is not impossible that you could find the rug pulled from underneath you.
As unlikely as this may seem if you are planning to have a full time career in Internet marketing you need to build some sort of safety net in case the unthinkable happens.
At the last count eBay has about 200 million registered members and eBay are continually running promotions and campaigns to keep that number rising. This is great because they are doing the majority of fishing for customers for you. They have rounded up the potential customers and put them in a barrel and all you have to do is reel them in. We all know how easy it is to shoot fish when they are in a barrel but if that barrel gets taken away then you are in difficulties.
There are two ways to reduce your reliance on eBay and that is to have a web site and build a customer list. It is very easy these days to build a sales web site and if you do not feel capable of doing this yourself you can go to: http://www.ezeeweb.co.uk/autoincomegenerator
click on the “Get a Free web site” link and you will have a fully stocked and hosted web site for no cost. You can then create a link on you About Me page to your new web site.
The second action you should take is to always send a buyer a thank you e-mail. As well as thanking them for their purchase you could also offer them a free e-book or report. If they accept this offer they will be considered to have opted into your list and you can send them further e-mails with other offers.
Once you have a web site that you can promote and good customer opt in mailing list you are no longer dependent just upon eBay. And you will find as your sales on eBay grow so will your web site traffic and your e-mail list.
Then and only then will you have your own truly independent business.
It is a fact that e-books about eBay sell very well on eBay. Therefore I expect my latest e-book "The eBay.co.uk Primer to do well. It is brand new and has not been offered for sale anywhere before. The book covers buying and selling on eBay and is designed for those fairly new to online auctions.
It comes with Master Resale Rights which means that you can sell it and allow others to sell it as well. At only $9.95 (around £5) it is attractively priced and should prove a good seller. You can also use the web page and just alter it to include your details .
Books that are offered with Master Resale Rights usually have a short but profitable life before they start appearing at knockdown prices and as bonuses. So it pay to get in early and this is as early as it gets.
To find out more visit www.ezeeweb.co.uk/ebaygold/index.html
eBay Success - How to Price Your Items
Are you losing money with your online auctions because of your pricing policy? Or even worse do you not have a pricing policy. If not then you could be losing a considerable amount of money. The trouble is that many people think that pricing is easy but quite a bit of work goes into determining and setting prices.
Essentially, there are only three prices that can be set for an eBay auction: the ‘Buy It Now’ price, the reserve price, and the starting bid price. Of these three, the starting bid price is the only one that is required for an eBay auction. The reserve price and the ‘buy it now’ price are optional. In fact on eBay.co.uk you cannot set a Reserve Price of below £50.
How low you set your starting price will depend upon how brave you actually are. The lower the price the more bids you will attract. And the theory is that once you attract a lot of bidders even more will come and this will push the bid price way up. This of course is were the bravery comes in, would you risk putting a diamond ring worth £1000 up for sale with a starting price of just 99p?
Despite what some experts may tell you it is not easy to get a real bargain on eBay because there are so many people viewing the auctions. How often have you seen something that with an hour to go appears a real snip but by the time the auction closes the bids have doubled or trebled in value.
One option when you set a low starting bid prices is to set a reserve price. A reserve price is the absolute lowest price that you want to get for your item. You may sell the item below the reserve price, but you will not be required to. In other words, if you set your reserve price at £50, and your highest bid is only £25, you do not have to sell the item to the highest bidder. You can close the auction without any negative feedback or repercussions. Set your reserve price at the absolute lowest price you are willing to sell your item for. Keep what the item is worth, as well as what it cost you in mind.
However, you should know that an item with a reserve price stands a 40% less chance of being sold than one without. Once someone places a bid and sees the message “Reserve not met” they are just as likely to leave that auction.
The ‘buy it now’ option will allow you to set a price, and buyers can buy the item immediately, without
bidding, for that set price. This option can be used for any type of item, and has the advantage that you will have costed it so that you know the exact profit you will make on each sale. It is very good when you have multiple identical items for sale. Another advantage of Buy It Now is that once a person agrees to meet your price the sale is made unlike an auction were you have to wait for the end for the sale to be made.
Shipping has a price, and potential buyers take this into consideration when they are looking at an
auction. If you can see your way clear to offer free shipping, you will find that people are placing more
bids. Make sure that your potential buyers realize that you are offering free shipping!
When you set a price you have three considerations, what did the item cost you, what is it worth, and what is the lowest figure you would want to sell it for? My own rules of pricing are:
I never set the starting bid price below what it has cost me. (Even though I know I might attract more bids if I did)
Unless an item is a collectible I will always set a Buy It Now Price
I never set a reserve price.
I always check the completed sales to see prices similar items are fetching.
A starting bid price is not something you should just pluck out of the sky. Think about it .Before setting any prices, you need to determine what the item is really worth. The value of the item in different markets might be quite high. However, you are selling on eBay, and it is a different world altogether! Find out the price that similar items sold for on eBay before setting any prices. If it is a collectable, or a high ticket item, have the item evaluated to ensure that you aren’t going to lose money!
In last months issue of UK Auction Line I told you about Skip McGraths "The Complete eBay Marketing System". I am pleased to say that many subscribers have taken the opportunity to get this really well written and researched program. It is now being shipped directly from a UK fulfilment house so if you want to learn how you can follow in the footsteps of hundreds of pewople before you and build your own profitable eBay business go to http://www.skipmcgrath.co.uk
"One in three have a PayPal account: A nation of shoppers" (UK), By Tim Ferguson
"Beware second-chance auction scams," by Leslie Hunt, Bankrate.com
5 Tips To Protect Yourself From Ebay Scammers
How to make money with online auctions
10 Analysing tips for your eBay transactions
I read a great many e-books in the course of a month. Some I buy because I am interested in the subject matter, others are sent to me in the hope that I will promote them. In the case of John Thornhills “Auction Profit Streams” I purchased it as soon as it came out because I knew it would be good.
Having read his first two offerings “The Secret Behind the $10,000 Auction” and the “90 Day Powerseller” I knew that there would be no padding or fluff in his new book, “Auction Profit Streams” and I was not disappointed. John unlike many other e-Book authors seems incapable of holding anything back. How many other so called experts do you know who include their eBay ID so that you can check that they do what they teach?
This 53 page book is one of the most comprehensive guides I have seen on selling
e-books through eBay. It takes you step by step through everything you need
to know to
build yourself a successful. And there cannot be a better teacher than John
to do this.
Living in Tyne and Wear he is a Power Seller who has a feedback rating of over
10,6000 and currently has over 300 auctions running on eBay.
According to John 95% of those who try selling e-books on eBay fail to make
any money and quit. The reason is because they just do not know how to do it
correctly.
Perhaps they bought one of those expensive books or courses that promise much
and deliver little. Whatever the reason, they give up and this is a pity because
basically it is a very simple business.
Selling e-books is an ideal business because it costs practically nothing
to get started, all your products can be digitally downloaded and there is
no stock to buy or store.
Up until now the only excuse anyone could have for not cashing in on this opportunity
has been “They did not know how”. Thanks to John Thornhill that
excuse has now disappeared.
Normally when I finish reading an e-book I may make a few notes and put it aside but with “Auction Profit Stream” I straight away started planning an e-book and the result was “The eBay co.uk Primer” which is featured elsewhere in the newsletter.
So I promise you it does work
To find out more visit: http://findv.com/x.php?361
By Todd Reese
eBay is now the 8th most visited site on the internet and it has just one purpose - sales. With 40 million visitors per month most eBay sellers are missing a golden opportunity. They are missing the opportunity to cultivate long term clients.
It is a proven fact in marketing that you will continue to buy over and over again from people and companies that you know, like and trust. Yet 95% of all internet marketers fail when it comes to eBay. Most are looking for the fast buck. They have completely miss the opportunity to use eBay as a lead generation tool. They miss the opportunity to create a list of people that will be willing to consume your products over and over again.
Lead generation on eBay can be accomplished in several ways. The most popular way is by using the self liquidating ad. A self liquidating ad is one that pays for itself. In other words your customer directly pays your advertising costs. What they are purchase from you is really some form of advertising.
Let me give you an example of a self liquidating advertisement. Recently I saw in a magazine an ad for a pair of sunglasses. The ad claimed that the sunglasses were free. You just have to pay the shipping and handling costs.
My guess is that the advertiser probably isn’t making much if any money on the sunglasses. But they also aren’t losing any money. The shipping and handling most likely cover their actual costs. What they really want is something far more valuable – your contact information and your “permission” to market to you. In other words they are looking for qualified prospects - prospects that are interested in the products and services they are selling.
Once this company has your contact information and “permission” to market to you, they will begin to establish a relationship. They will do this in a variety of ways including sending you ads for other product and services you may be interested in. Over time most customers will be worth many times more than their initial purchase.
Since eBay is purely commerce site it is a perfect place to do a self liquidating ad. Let’s look at an extreme example. Let’s pretend that you own a car dealership that only sells high end sport cars. We will assume that your average car sells for $65,000. One way you could use a lead generation self liquidating ad would be by “selling” a special report. For example you could sell a report on eBay entitled “18 Ways to Drive the Car of Your Dreams for Less Than the Cost of a Yugo”.
An ad like this would get some attention, especially from people who are interested in trading up to a high end sport car. The report is really nothing more than an advertisement for you. Of course you would have to write a report that had real content and offered up ways for the consumer to really do as the title suggests. A report like this however, would cost you literally nothing to produce – except your time – and there would be no overhead, no inventory, and no headaches.
Since this report would be nearly all profit you could set a low “Buy It Now” price ($4.97) to attract a huge number of prospects. The revenue generated would easily offset eBay’s seller fees.
In the report you could suggest several real ways for people to drive a luxury car for little money. You could also list in the report resources for them to research. For example the resources could be dealers that know how to work special financing deals or specialize in selling high end sport cars below market value. The resource you suggest would of course be your own car dealership!
The report did not cost you anything to produce and it fully paid for it's own ad costs with each person that ordered. The person buying the report is more likely interested in what you have to offer and are therefore partially qualified. Anybody that contacts you after reading the report is a fully qualified prospect and should be marketed to aggressively.
Once you have their name and contact information you could send them a weekly “hot sheet” of cars that you are trying to sell. Once they purchase you could then sell them accessories and branded clothing. If they were close to your shop you could sell them on servicing. And the list goes on and on.
If you study eBay there very few people using it as a lead generation tool. Yet lead generation and specifically self-liquidating advertising is a proven winner. Almost every type of business can benefit from lead generation advertising. If done correctly lead generation advertising can actually become another source of revenue for your company.
Look at eBay as more than just a fast buck. Look to eBay as a way to create long term clients. eBay if worked properly can be your best source of fresh leads and can really explode your sales.
About the Author: Todd Reese is an information marketer, eBay seller, marketing consultant, and author of http://www.AutoDigitalDelivery.com. His specialty is turning struggling eBayers into Power Sellers.
Source: http://www.isnare.com
It has been quite a packed issue this month and I hope that you found it informative and interesting.
At the moment there is an opportunity which is going to be launched on the 16th of this month. I am very excited about it and intend to join as soon as it opens. I am not going to give you any hype or hard sell about this. I think it is going to be well oversubscribed anyway but if you want to know about it just go to http://findv.com/x.php?35k
Until next month goodbye
DaveYou can send your feedback to feedback@ukauctionline.co.uk.
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