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| Internet Consignment Sales |
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| Internet Selling Basics
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While internet sales have skyrocketed over the last few years, the majority of people who use online services are still buyers rather than sellers. On most auction sites, about 90% of the users are buyers-only. That means there are as many as ten buyers for every seller, which can translate into a seller’s market. If you have goods to sell, there is a reasonable chance there are buyers looking for those items.
Despite the internet market being heavily weighted with buyers, sellers are still bound by the same rules that control most buying and selling:
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Good products: Buyers want quality products. They may be looking for used car parts or mint coins, but the quality issue does not change. Good products will sell before average or poor products. (See below for more info on what 's selling now.)
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Good value: Most buyers will tell you that they are usually willing to pay a fair price for what they want. Even so, everyone loves a bargain. A big part of the success of online auctions is the well-founded belief that there are great deals to be had. This doesn’t mean that sellers have to give their goods away, but it tends to keep prices competitive.
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Good selection. Buyers can be very particular. Among a hundred cameras, they will find the one that’s just the right combination of features and price, and the other ninety-nine simply won’t do. This is why you can find so many listings for similar items at most auction sites. Most buyers want to have choices.
| The Mechanics of Internet Selling
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A Listing is basically an advertisement. Like an ad in a newspaper, it consists of information about the item or service you want to sell, how to contact the seller, and probably a picture of the item. Unlike a newspaper ad, most listings are part of an internet auction that allows buyers to bid on your item for a set period of time, usually about a week. On most auction sites, E-Bay, Amazon, and others, bids can come from all over the world.
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A good recipe has all the right ingredients. Creating a listing involves several steps on most internet auction sites. E-Bay, for example, asks you to fill in a form that includes your personal information and a description of the item. You will need to select the location for your listing - placing it in a category that best matches it. A camera, for example, would probably be best place in a photographic equipment category so that buyers seeking cameras will know where to look for yours. For most listings, you will need a digital photo to upload if you want to show the item in your ad.
Additionally, you will need to select listing features that are designed to make your ad stand out from the rest. These can include special borders and accents for the text description of the item, multiple photos, larger photos, “slide shows” and special placement of your listing where more buyers will see it. The combination of these features can generate thousands of different listing styles. It can be a bit overwhelming.
At Online Auction Block we do the work. When you bring your item to our store, the first step is to determine if it’s right for an internet auction. We won’t take it if we don’t think it has a good chance of selling - our job is to make your sale a success, not to take in things that you’ll be disappointed about later. We maintain an extensive data base of internet sales and track many market trends. If your item has a good chance of selling, we’ll give it our best effort.
Because we only take a commission if the item sells, we work hard to make every listing a successful one.
Once we’ve accepted an item for sale, our work begins. The process includes:
- generate professional digital photos.
- write suitable descriptions that give the buyer the right information and accurately describe the item in detail.
- determine the best internet location to sell the item, matching the style and type of advertisement to the site.
- set a minimum price, based on our research, with your approval.
- manage the listing advertisement, answering buyer's questions, and keeping you completely anonymous.
- once the sale is complete the buyer's payment has cleared, we package and ship their purchase to them. We extend a seven day money-back guarantee that anything we sell will be "as described".
- After the seven day return period, we process the sale, deduct listing fees and commissions, and send you a check.
It's That Simple!
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What's Selling, What's Not
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As we noted above, the right items make all the difference when trying to sell over the internet. What makes an item right for selling? Below we've posted a breakdown by category of many types of items, from good sellers to poor in the current market. In addition, when you're looking over your potential marketables, you might make a note of these four things:
- Condition A very important part of an objects value. Electronics, cameras, and such do much better if they are functional, and better still if they have all their accessories. And, no matter what, try to make sure it is clean before you bring it in. The better the condition on collectibles and antiques, the more likely they will attract a higher price. Be aware that amateur restoration can do more harm than good.
- Pricing While we don\’t do appraisals, we can help you find the price range that your items typically sell at. The last word on minimum pricing is yours. While our goal is to get the most for your items, pricing should be realistic. Too high of a starting bid usually stifles bidding.
- Size This impacts shipping, which can affect whether an item sells and the price that it brings. The buyers are paying the shipping, and they will take that into account when they bid.
- Timing Some items are seasonal, others may be linked to special events that make them better sellers at anniversaries and so forth. Nearly every holiday has its own special market. Despite the best effort, some items don’t sell. Buyers may not be in the market, or there may be too many similar items available at a given time. Most things will sell eventually, but sometimes they have to wait for the right time. With the current economic conditions, many items that normally sell well may have a harder time finding a buyer. Expect lower prices, particularly for collectibles and less essential items.
Given all these considerations, here's our list:
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Good Market
Antiques and collectibles. Old doesn’t always mean valuable, but antiques can command hefty prices. Collectibles, by their nature, often have a steady market. Remember that it’s not necessarily a collectible just because you like it. Oversold collectibles like Precious Moments and Beanies Babies sell for pennies on the dollar.
Cameras and photography equipment. Quality older film cameras have maintained a steady overseas market. Good digital cameras are doing well. Point-and-shoot models sell for very little. Darkroom equipment is very hard to sell.
Cell phones. Singly or by lots. Expect to get about 20% to 25% of the original discounted sale price.
Computers. Newer is better, but there are some niche markets for older, unusual items. Laptops and components do well.
Musical instruments. Quality instruments do reasonably well if they are in good condition. Older instruments can demand high prices among collectors - maker and model are key.
Memorabilia. Sports and entertainment memorabilia can do very well, but collectors know what they want, and they tend to look for bargains. Historical items with good provenance are hard to find and often very valuable.
Militaria. The demand for Vietnam era and older war memorabilia, including uniforms, blade weapons, medals, helmets, and more, is very strong.
Pottery and Glass. although the supply seems to outpace the demand, fine quality items can do well. If you can usually find it at the thrift shop, it probably won’t sell online, but there are also gems to be found among the yardsales.
Toys, and hobbies. We like our games. And dolls. And thingamabobs. Condition is important, but many people are looking for items they remember from their youth, too. Antique toys can get the collector market very excited.
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Average Market
Automotive parts and supplies. Auto parts are a steady market, especially for older, rare, and unusual vehicle parts. Prices are usually heavily discounted.
Books. Rare books and rare editions, signed-by-the-author books, rare folios and the like can do well. Used books are better sold locally. Generally, no paperbacks.
Coins and stamps. Subcategories of collectibles with well-defined values to collectors. If you know what you have, you know what it’s worth. If you don’t know, we’ll provide our best assessment, but some items, particularly old coins, may need a professional evaluation to determine their condition and value. Expect to get about 1/4 to 1/3 of current catalogue prices.
DVDs- music and movies. Originals only, no copies. The market in bootlegs versions is not something we support. Prices are low, but good lots can still sell.
Gift certificates. Good for vacation destinations and well-known stores. Not so good for local shops.
Health & beauty aids. Hard-to-find items have a reasonable market. Be aware of expiration dates and other restrictions.
Home and garden. A broad category that can seem like the ultimate garage sale. People look for bargains here, but quality andrare goods often do well. Larger items tend to cost too much to ship to sell well.
Sports and exercise equipment. The market is steady, although the value of used goods is much less than new - expect heavy discounting. Most buyers are looking for bargains, but quality does well. Items need to be in good working condition.
Tickets. If the time-frame works, tickets can do well. One auction site sells at set prices while another takes best offers. People are always on the lookout for tickets to popular destinations, sporting events, and shows.
Video games and equipment. Like DVDs and music, originals only. Gaming equipment does reasonably well.
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Poor Market
Art and Sculpture. In the current market you can expect to get about 10% of the appraised or gallery price. Sales are at an all-time low.
Clothing, shoes, and accessories. Trends favor newer items, designer clothing, and finer shoes and accessories. If it’s found commonly at the thrift shop, it’s not likely to sell online. Anything in this category must be in excellent condition and clean.
Furniture. Slow to impossible to sell for reasonable prices.
Jewelry. A very tough sell. Famous brands do marginally well, other pieces do too poorly to even consider.
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