How To effectively use Different Features that eBay give you

The first and most profitable feature that you can take advantage of is Second Chance Offers. A second chance offer is when you have an auction that ends and there were two other people that placed a bid on your auction but didn't win. Here's where you can take advantage of the 2nd chance offer if you have multiple products. You can offer the product to these eBay members and give them the option to buy it for what their highest bid that they placed. The three ways you can utilize this feature is first if your winning bidder doesn't pay. You will come across the deadbeat bidder who wastes your time and doesn't pay for the auction. Well instead of re-listing the auction I highly recommend sending a 2nd chance offer to the 2nd highest bidder of the auction. Even if its 3 or 4 days after the auction has ended, the bidder may have really wanted your item and be thrilled to have a chance to win the auction. This can save you time and money from re-listing your item up for auction. The second reason that you might take advantage of this feature is when you have unlimited inventory of products. You can send 2nd chance offers to ever single bidder if you are making a profit on your auction. When I was selling Nike's, I had unlimited inventory that I could order from my supplier so every one of my auctions that I had the chance to 2nd chance offer I did. I sometimes sold for or five items in an auction because I had 10 of the same product and didn't try to earn maximum profits for each auction and quadrupled my monthly sales by getting rid of product fast. The last way to use the 2nd chance offer is if buyer contacts you and explaining they weren't home at the time to rebid on your auction and was wondering if you had any more items in stock. Immediately send them a 2nd chance offer and follow up with a message saying "yes I do have some more in stock, you can buy the item for the price that the winning bidder won the auction for". This will not only generate another sale in your business but by sending them a message, you can sell two items for the top bid instead of selling it to them for what their highest bid was. This sometimes will put an extra 10 to 20 dollars in your pocket depending on the difference of their bid and the winning bidder. 2nd chance offers are free sales, they don't cost you any money to send out and you're sending them to buyers that are already interested in your auction. I guarantee it will create more sales and more profits in your business. Even if 50% of your 2nd chance offers generate into a sale then that is a 50% increase in your monthly quarterly or yearly sales.

Using the Buy It Now feature in your auctions is crucial when you are trying to move products fast and generate high volume sales per month. The buy it now features allow bidders to win the auction immediately and not wait 2 to 3 days for it to end. Sometimes you are dealing with impatient buyers that don't want to take the time to bid and try and save 10 or 20 by bidding but will pay the buy it now price so they'll win the auction immediately. These are the customers that you always want to view your auctions. They are the ones that will give you your highest profits per auctions so take advantage of the buy it now feature and fulfill their needs. Don't make them turn down your auction because another seller is offering a buy it now. There are two tings that I would take into consideration when listing a buy it now. Whether I wanted to move the product fast for a reasonable profit or if I had only a limited supply of the item and wanted to receive maximum profits. So when I listed a buy it now for those auctions I either set it at the average sale price for that item or I set it at the highest amount that I could possible get for that item without it not selling because re-listing an auction meant more time and money out of my pocket. It all depends on the products you are selling but I would generally start the auction at a certain price then put a buy it now 15 to 20 percent more then the starting price. If you are starting your auction at a much lower starting bid then what your product is worth then never use the buy it now feature because 90 % of the time people will bid on your auction to try and get it for a lower price.

The Next valuable feature is known as the Subtitle. The subtitle is the box below the title that you can pay $0.50 to use if you ran out of room in your title box but still wanted to add a few important words that would attract buyers to your auction. Now when buyers type in words in the search box to find auctions, the ones in the subtitle will not show up, it will only show up if they click the "search title and description" box. The Subtitle allows you to differentiate your item from the rest by including key selling points and attract the eyes of the buyers. I recommend using this feature when you're selling high end products that that has extra accessories that make the item worth maybe $20 more then the rest of the market. When I sell high end phones like iphones or blackberries, I would sometimes have and extra car charger that didn't come in the original box. An example of my subtitle would be "Extra car charger included $19.99 Value". On average, listings that include a subtitle are 18% more likely to sell then without.

The last major feature that I want to touch up on is the "Best Offer" feature. This feature is when you have an auction up for sale for a set price; let's say $500.00 Buy t now. Your goal in this auction is to get 1 bid and sell the item for $500.00. Well you can also add a best offer feature where other bidders can send you an offer on your item in which you can decide to sell it for. You don't have to sell the item for what they offered but it allows you to see what other bidders are willing to pay. A lot of car auctions will have a best offer included in the auction because people are always trying to bargain a car sale. If the seller likes the offer that a potential buyer sent in he can simple click accept and the auction will end to that eBay buyer. Once the buyer sends in the offer, you have 48 hours to accept or decline the offer. You're also able to send the buyer a counter-offer to see if he'll budge a little more with the price. To save you time from accepting or declining multiple best offers, you can set the best offer system to automatically accept or decline the offer depending on your set price. The completion of the sale is the same as every other auction, the seller just agreed to sell it for lower then his asking price. There is no extra charge to use the best offer feature so it might not be bad to including in some of your high priced auctions.