Tips on How to Profit from eBay Buy It Now Auction Listings

eBay is an online auction site so it stands to reason that most users will tend to auction off their items aiming to get a high price.

The problem with auctioning items is that eBay can be a very fickle place, one week an item may sell for hundreds of pounds but the next week the same item may sell for pennies.

Your success rate on eBay is affected by the number of people who are willing, and able, to bid large amounts on your items. If the buyers can't, for some reason, bid high amounts on one particular auction, you run the risk of losing money.

There is no way of telling when an item will sell for a high amount. If there was, there would be many more very successful eBayers out there.

One way you can almost guarantee you will sell an item for a good price is to use a Buy It Now (BIN) listing.

In order to use BINs successfully, you have to get the price right. Too high and it will not sell. Too low and it will be bought almost immediately, probably by a competitor who will relist it to try and profit from your mistake.

So, how can you use a BIN listing to profit?

If you've got a good idea how much the item is worth, list it for that price as a BIN. If you don't know how much it is worth, try searching for it in the Completed Listings searches.

In my case, I was quite successful selling DVDs with BIN listings. I simply searched for the DVD I was selling in the completed listings section, sorted by Highest Price and then listed my item at the highest price I could find which had sold.

At times, I also added a little more to the price. Why? Because the great benefit of BIN listings is that impatient buyers can get them almost immediately without having to wait for an auction to end and without running the risk of losing out to another bidder.

If you cannot find the item in the completed listings section or it is very rare and you are unsure of the value, list the item with a very high (almost ridiculous) price. Any potential buyers will find the item, provided you have listed it correctly.

Let the listing run for the full 10 days; it is a very good idea to always use 10 day BIN listings as you pay the same price as a 1, 3, 5 or 7 day listing and get more coverage.

If the item doesn't sell, don't be tempted to drop the price or auction it off. Too many people do this and lose money. Remember, patience is a virtue.

Instead, list it again but this time add more text to the description telling viewers that you are open to offers. You may well find that someone will contact you through the "Ask Seller a Question" link offering you a quick payment if you are prepared to sell for £x.

If the offer is not good enough, reply to the sender and politely refuse but suggest a price you would be willing to sell for.

On the other hand, if you are holding out for the maximum you have already specified, tell them why and justify your answer. You may well find that they relent.

At the end of the day, if you do have a high value item then it will cost you a maximum of £2 per listing. Each time you place it on eBay you are attracting more potential buyers. This means that you can have your item available to billions of potential bidders for 100 days for a reasonable £20.

And, when a buyer finally comes and offers the correct asking price, you will not have lost much whatsoever if it is a high value item.

One point to remember; if you give up and auction the item off or sell at a lower price, you may well find you sell it to someone who will actually do the above and profit from your mistake.

Ben Catt is an active eBay buyer and seller and runs an eBay Tips and Tricks website found at http://www.BenCatt.com.He also runs a business opportunity information site - http://www.BizOppsUK.com

More Resources

Fundraising Ideas Using eBay
Have you thought of using the online auction site eBay as your next major fundraiser?I have, and it was a huge success!Like many other businesses the fundraising business has seen an incredible change since the internet. Everyday there are new tools, softwares and websites that are making fundraising not only easier but a lot more fun.
12 Tips To Make Your eBay Business More Profitable
Sometimes it's the simple things that can make your eBay business more profitable and run smoother. Here are twelve things you can do that will lead to more sales and increased profits on eBay.
Effective Online Car Sales on Ebay Motors
Remember back when selling online was a new experience? Dealers tried everything to sell their vehicles online. Today's market has expanded to include several hot online marketplaces.
Why Ebay Is The Best Place To Make Your First $1000 Online
I'd like to begin with a question - and I'll bet the answer is going to surprise you (it sure did surprise me!).Q.
Eating and Thriving On-Line
The Internet SHOULD be "the place to shop" for low-carb dieters, diabetics, celiacs, and anyone else on a special diet. The posted prices are well below those in retail stores, the variety is greater, you are dealing with firms whose specialty is dealing with your need, and the products for sale are described fully in type that is designed to be read (isn't that a pleasant contrast to the packages you see in your local store.
EBay Feedback, 5 Key Things All EBayers Should Know
eBay's user feedback system is one of the site's most important components. Without the conscientious comments recorded by both buyers and sellers, there would be no way for anyone to build up a trustworthy reputation in the nearly anonymous realm of cyberspace.
Effective Auction Listings - How To Create Them
Once you've created the best possible title for your item, you will move on to writing your auction description. Here, you have more space to give a detailed description of the item you are selling in the body of your auction.
How To Sell On Ebay: Using Store Policies To Cement Your Credibility
In your quest to build credibility as an Ebay seller, few things are more important than creating and following consistent store policies. Doing so will provide your customers with an attractive buyingatmosphere, where they will feel safe making any transaction.
Negating Negative Feedback on eBay
Taking some pride in my one hundred percent positive feedback score on eBay, I was horrified to see a negative feedback appear against me.What had I done wrong? Had I overlooked an auction win and failed to deliver product as promised? Had I given poor, slow service? Was I rude to the auction winner?Certainly, if I had been guilty of any of these things, the negative feedback may have been deserved.
Where To Find Items To Sell On eBay
One question that always seems to pop up is, "Where do I find products to sell on eBay?" Here are some ideas to get you started.Start at HomeWhen you first get started, it can be a little unnerving.
7 Simple Steps To Profit Without Your Own Product
Most people do not succeed on the internet because they are selling products no one desperately wants.If you want to be truly successful sell only things that people really really really want to buy!Sounds simple? It is.
How to Survive the Jungles of Ebay Selling
Come with me, we are going to take a safari into the jungles of eBay selling, sometimes wrought with danger but most often rewarded with treasure.Beware of non-paying bidders, beware of auction snipers waiting to try and steal your eBay auction at a very low bid, but welcome the loot you will receive selling outdated relics in your house for a small kings ransom.
A Picture Paints a Thousand Words and Creates Auction Euphoria on eBay
Ever since I sold my first item on ebay I have been addicted to the site and I have steadily developed it as a supplementary source of income over the last two years. As I gained experience from listing items, I rapidly became aware that the inclusion of pictures in the listings was a major selling point as buyers could literally see what they were buying and as such create a greater interest and desire within them which in turn led to greater selling prices.
10 Tips to Starting a Financially Successful Ebay Business Startting Right Now
Ebay is Perhaps the easiest and fastest way to start a home based online business. Here are 10 Tips to starting a Successful Ebay Business1 - Become an Ebay ShopperBuy a Few things on Ebay.
eBay - Getting More Bids Using An Auction Preview
If you sell in small niches as I recommend and are organized enough that you know what you will be listing on eBay 1 to 2 weeks ahead of time, you should give serious thought to previewing your upcoming auctions for your customers. The result can be increased sales and higher final bids.
The 3 Minute Auction and Minute Auction Explained
Am I the only person who doesn't know what a 3 minute auction is? Looking for fresh content for my site, I discover that "minute auction," or even a 5, 10 and 30 minute auction is a popular item. Some auction sites may refer to a minute auction as a "Live Bid.
So What Are YOU Going To Do About eBays Fee Increases?
Unless you have been hiding under a rock, I am sure that by now you have heard that eBay is raising its fees. So what's a small merchant to do? Here are some suggestions.
What to Sell on eBay - 7 REAL Tips for Finding Successful Products
This question has become one for the ages. There are many answers to it, few of which will actually help you.
7 Steps to Easier EBay Shipping
If you're like me, you probably hate packing and shipping the things you sell on eBay.Don't get me wrong, I love selling on eBay.
6 Reasons Why an eBay Business is the Easiest and Safest Home Business to Start
Calling internet auctions an "Entrepreneur's Dream" isn't poetic license or part of the get-rich-quick rhetoric. Net auctions are the simplest, easiest way on this planet for the little guy to make money.

More Auction Information:

Related Articles

Tips on How to Profit from eBay Buy It Now Auction Listings
eBay is an online auction site so it stands to reason that most users will tend to auction off their items aiming to get a high price.The problem with auctioning items is that eBay can be a very fickle place, one week an item may sell for hundreds of pounds but the next week the same item may sell for pennies.
Making Money on eBay is Really Easy
If I can do it you can.Let me tell you my story.
Selling on eBay? Heres a Success Tip for Your Online Auctions
Are you planning to sell on eBay? Or have you tried in the past but not had much success with your online auctions? If so, here's a strategy that has worked very well for me.In my experience, the auction lots where I created a useful collection of related items got more bids and closed at higher prices than auction lots that were all one thing.
Better Than Sliced Bread? Drop Shipping, The New Home Business Craze
Many of you will probably remember the days when the only way to start a successful home business was to join some sort of multi-level marketing program or sell makeup at parties. In those days, people would have to buy a membership in the 'program' along with an inventory of sample products that they would then sell to friends and coworkers at 'parties.
Snipe Your Way to Auction Success
Bidding for a bargain is all part of the exciting eBay experience. But what can really disappoint is when you're all set to win that fantastic, gold plated gizmo and someone else just beats your bid in the very last minute.
Use Auction Templates For eBay Success!
Auction templates are simply a must for successful online auction selling. One day I spent approximately 45 minutes writing a listing for an item that would make me about $5 in profit! I suddenly realized the stupidity of what I was doing.
Drop-ship or U-ship: That is the Question
For small Internet retailers, drop-shipping is one of the best innovations since sliced bread. How else can a start-up offer a wide variety of products and convince customers that they have a fully-stocked warehouse-while investing virtually nothing in inventory or warehousing? Before you jump right onto the drop-shipping bandwagon, however, there are some pitfalls to avoid.
Joint Venture For eBay Success Too!
Whether you're succeeding in your online auction attempts, just getting by, or failing to make money; Joint Ventures Can, and almost certainly will, Multiply Your Income Without Spending A Single Penny!Joint Venture, or JV, is a big general term for setting up creative ways to cross promote or cross market with other people Just Like You.How do I know.
Internet Auction Sites : Find Good Deals on Almost Anything
You can find good deals on almost everything you need on internet auction sites. There is almost nothing that you can't find over the internet.
Maria's New Lifestyle: Short Story About The Benefits Shopping On The Net Has Given
I've got this strange friend; her name is Maria. Maria's always been a little weird but now things have gotten unworldly altogether.
How To Sell On Ebay: Pricing Strategy
Many new Ebay sellers make one of two mistakes: eitherthey overprice items to an unsellable extreme; or theylose money on every transaction by setting low startingprices with no restrictions.In this lesson, I am going to go over which pricing strategies to use and when if you are using a ten-dayauction setup.
10 Tips to Starting a Financially Successful Ebay Business Startting Right Now
Ebay is Perhaps the easiest and fastest way to start a home based online business. Here are 10 Tips to starting a Successful Ebay Business1 - Become an Ebay ShopperBuy a Few things on Ebay.
How To Convert eBay Surfers into Bidders!
Do you know the phrase "A Call To Action"? Well, using "A Call To Action" on your eBay Auction could help increase your sales almost immediately. As outlined in my book "eBay Marketing Wholesale SourcePak" having the right product, at the right price is crucial.
eBays Latest Fee Increases--Is this the beginning of the end?
On January 13, eBay sellers received an unwelcome announcement from eBay. Fees were going up.
Online Auctions: 10 Secrets You Should Know Before Bidding At An Online Auction
You may have heard about ebay and other online auctions.You may have participated in some of the biddings.
Do You Sell Tires By Mail? Maybe You Should eBay
I just received an interesting email from eBay and it got me thinking..
Auction Sales - Keeping Customers You Worked So Hard To Get!
If you've studied business concepts you know that finding a customer can be the most expensive part of the sales process. Once you've got a customer why not maximize the money you've already invested in the effort?This time honored business concept certainly falls under the category of going the extra mile for a customer.
An eBay Computer Purchase
An eBay purchase that turned sour.A story of fraud, deceit, and broken promises.
Dont Be A Victim Of Online Auction Fraud
The Internet Fraud Complaint Center (IFCC) reported that last year 7.7 million dollars was lost through online auction scams.
Start an Easy Home Business: Become an Ebay Trading Assistant
EBay's online auctions have created business opportunities for thousands of people. Now the Trading Assistant program is making it easier than ever to start a business from home.