Archive for the 'Questions For Mike' Category



How To Set Up an eBay Store the Right Way!

Monday 24 September 2007 @ 1:01 am

Recently I got an email from one of my readers.  This is what it said:

Mike,

I just started my eBay store and website. I could use help in analyzing it.

Thanks,  -Karol

Would like to get more traffic to my eBay store and online store.

Thanks,  -C.

Karol and C, I think a lot of people are in the same position. 

There is a lot of information out there.  Do This…Do That.  It can get to be confusing.

That’s why I like to go to the real-world experts, not the self-proclaimed ones.

THE real-world expert for eBay Stores is Janelle Elms.

She knows what she is talking about!

She claims 99% of eBay Store owners are doing it all wrong, and I BELIEVE HERE!

Would you like to be one of the 1%?

Here’s her link!




Got The Autoresponder Willies?

Monday 17 September 2007 @ 1:01 am

Recently I got an email from one of my readers.  This is what it said:

Mike,

I need auto responder software the simpler the better. I am struggling to set this up from my pop3 and this is really holding me back.

Thanks!

- Kerry

Kerry, I think a lot of people are in the same position. 

When you hear the term “Autoresponder,” what do you think of?  Probably something complicated.

It doesn’t have to be.  In fact, the autoresponder software I use does much more than the basics, but is simple to use and, if you ever need it, I think they have one of the best customer service teams in the world.

The service is Aweber, and they will help you get everything set up.

They even help you take care of sending regular emails to your customers!

Take a look at them here!




How to Get Software for a Membership Site!

Monday 3 September 2007 @ 1:01 am

Recently I got an email from one of my readers.  This is what it said:

Mike,

I would like to know if there are any good membership site software for FREE? :)

Thanks!

- Avery

Avery, I think a lot of people are in the same position. 

They think that a membership site is the way to go, in order to make a lot of money.

It can be, but for something as valuable as your own membership site, you’re going to have to invest in good, stable software in order to maintain it.

What I use and like is the Amember software.

It supports multiple payment systems in multiple languages and is perfect membership software for selling digital subscriptions and downloads.

Take a look at them here!




How Can I Sell Info Products on eBay?

Monday 20 August 2007 @ 1:00 am

Recently I got an email from one of my readers.  This is what it said:

Mike,

Where can I get a system for selling info on eBay? I know I need an autoresponder and a method of sending the info after payment by PayPal, etc. Knowing what I need and knowing how to put it together are not the same!

Thanks!

- Dale

Dale, you hit the nail on the head with your last sentence above!  Too many Internet Marketers or eBay gurus just give you SOME of the information, and fewer still tell you actually how to do it.

You may have heard me mention eBay PowerSeller John Thornhill eBay ID (planetsms) before.  He makes his living selling eBooks on eBay.  He has always invited people to check out his eBay ID (planetsms ) - then they could see for themselves that he does Walk the Walk because he was fed up of those who just Talk the Talk but do not actually help people!

Right now he’s giving away his “90-Day Powerseller Challenge” e-Book for free!

He gives you the step-by-step instructions how to do what he did - become THE eBay Digital Products Master.

Click here to get the e-Book.




Can I Find An Apparel, Housewares, Etc Source For Dropshipping?

Monday 13 August 2007 @ 5:00 am

Over the weekend I got an email from one of my readers.  This is what it said:

Mike,

Would like to know where to get quality wearing apparel - handbags, shoes, jewelry, housewares, furniture, etc. from a dropshipper.

Thanks!

- Patricia

Patricia, I’ve got just the source for you!

OneSource!  That’s right, again, I have to recommend OneSource.  In fact, they are the ONLY one I recommend for this area of need.

Why do I keep recommending them?  It’s not because there’s no one else out there.  Rather, they are THE BEST!

And I’m not just talking about Dropshippers.  

They also focus on light bulk wholesalers for those that need small amounts of wholesale items, and bulk wholesalers for those who can take product in larger amounts.  They also include liquidators and importers!

OneSource hand-checks out every company that they supply to you. 

I’ve made a video that gives you an inside peak of their website that can be viewed here.

They are not to be missed!




How Can I Get Traffic To My Listings?

Monday 6 August 2007 @ 12:00 am

Recently I got an email from one of my readers.  This is what it said:

Mike,

I have been selling on eBay for a little over a year now and I’m not doing too bad considering I have no idea how to advertise my website online. I know what I need to do and what kind of advertising will work, but I don’t know where to find these places and what to do with it once I get there. I am seriously frustrated.

Thanks!

- Marnie

Marnie, I know it can be overwhelming when you (1) get a ton of information and don’t know what to do with it, or (2) get that information in a form that doesn’t work best for you. (Marnie said later in her letter that she learns best when someone shows her how to do something, rather than reading about it.)

I’ve got something that will help you in the advertising part of your question.

I’ve recommended pay-per-click as the fast and easy way to start getting traffic to your website/aBay Store.  But oftentimes, it’s complicated to know what to do.

Here is where Jeremy Palmer comes in.  He created free videos that offer step-by-step solutions to get you set up in Google AdWords, MSN AdCenter, and Yahoo Search Marketing.

Jeremy walks you through signing up, setting up campaigns, doing keyword research, and finally running and tweaking that campaign.

Additionally, when you go to his site, you will see how you can get $50 ad credits for Yahoo and MSN, thus making your risk $0.

Marnie, you can’t go wrong here.

Click here to go to the site.




Can I Get a Free FrontPage Replacement?

Monday 23 July 2007 @ 12:00 am

Recently I got an email from one of my readers.  This is what it said:

Mike,

Do you know of a good and FREE HTML editor?

Thanks!

- Linda

Linda, I’ve got just the one for you!

Don’t have Frontpage?

Need an editor for HTML files? 

Check out this excellent free editor.

It is called Nvu (pronounced N-view).

You can get it by following the link below and clicking on “Downloads” near the top of the screen.

You may download it here.




What If They Don’t Pay?

Monday 16 July 2007 @ 12:00 am

Recently I got an email from one of my readers.  This is what it said:

Mike,

What can you do if a buyer does not pay up?  Both Paypal and eBay don’t do anything. Is there any thing like debt collecting agency?

Thanks!

Cyril

Cyril brings up something that is becoming fairly common these days - what to do when a buyer doesn’t pay after winning the auction.  

Again, I have a recommendation: a company called Reliabid. 

According to a press release on their website, “Relibid  proven  over 99% effective in eliminating non-paying bidders in eBay auctions.”

At eBay LIVE, I interviewed the CEO of Reliabid, and that interview can be viewed here.




Who Can I Trust?!?

Monday 9 July 2007 @ 12:00 am

Recently I got email from some of my readers.  This is what they said:

Mike,

I have spent so much time looking for a drop shipper, only to hear “don’t trust this one” or “that one’s a rip off”–now I’m running scared-don’t know who to trust. Help!  -Bonnie

Finding top products - Jerry

Yea Mike, Can I get a list of WHOLESALERS??? - Rich

Bonnie, Jerry, and Rich bring up the most common question I hear these days - where to find a good dropshipper/wholesaler.  

Again, I have to recommend OneSource.  In fact, they are the ONLY one I recommend for this area of need.

On top of that, they are offering a discount until July 19th.  After
that, the price increases by $50!

I’ve made a video that gives you an inside peak of their website that can be viewed here.

They are not to be missed!




How To Get Started on eBay!

Monday 2 July 2007 @ 12:00 am

 Recently I got an email from one of my readers.  This is what it said:

Mike,

I am completely new to eBay and would like to know if there is some sort of list that gives a person a checklist of exactly how to start selling on eBay, such as a step-by-step list of how to start an eBay business. I just can’t seem to pull it together enough to submit my first item for sale.

Also, how important is it to have your own eBay store? When just starting out, is it best to start out with a store or wait until you are quite comfortable with the eBay selling process and then get an eBay store?

Corinne

Corinne, you bring up a good question.  Right now, so many people want to start out selling on eBay.  The thing is, where to start and how do I do it?

EBay is so popular and seems like this huge mountain to climb.  Let me assure you:  It is popular, but is not hard to do well in or even master the art of selling.

Where is the best place to find a checklist of exactly how to start selling on eBay?  From the source itself!

Yes, eBay provides most of the training tools you need to be a successful seller.  From on-screen to video training, eBay has it for you.

Click on this link to access their helpful training tutorials.

Secondly, I feel having an eBay Store is extremely important. 

I’ll give you just a couple of reasons today: 

1. Because of the tremendous amount of traffic that eBay enables you to get. 
2. Because the search engines pick up the names of items in your store and make them part of the results in the respective search engine when someone types in those words.

It doesn’t take much imagination to see the value of eBay Stores. This value starts from the beginning, so get your Store NOW!

Only 1% of Store owners set up and run their store right.

Want to be in that 1%?  Then you need Janelle Elms’ Videos here.

Corinne, by using the available support, you can find the step-by-step instructions to get you started on a long and profitable eBay career!




How You Can Find The Most Competitive Suppliers!

Monday 25 June 2007 @ 12:00 am

 Recently I got an email from one of my readers.  This is what it said:

Mike,

I have a question… 

One of my interests is selling new and used fishing lures on ebay. One brand in particular is XXXXXX. I have done some research and found some auctions selling XXXXXX lures cheaper than I can buy them from the distributor.

Have you got any ideas for sources, maybe surplus or overstock? I have looked but can’t find any XXXXXX’s as cheap as the auctions that I have listed below.

Please help!!!

Thanks,

Leo.

Leo, I’ve looked over the products you mentioned and it looks like you’ve got a pretty popular item.  (That’s why I took the brand name out of your email, so that you could protect your area of business!)

It is true that oftentimes new eBay sellers will choose a product from a major wholesaler or dropshipper, get all excited, buy a bunch, then go check eBay and find people selling them for less than they paid.  Zoinks!

“How is this possible?!?” they ask.  Then they decide that eBay doesn’t work and they throw in the towel.

First, you have to do your homework.  Definitely, definitely, definitely DO NOT BUY an item until you check to see what it’s selling for on eBay.  You very well may end up paying too much and NEVER being able to recoup your costs.

Second, look at the supplier you are dealing with.  Is he a retailer?  Is he a wholesaler?  Is he somewhere in between (a middleman)? Is he in liquidation, surplus, or closeouts?  Yes, it makes a difference!

You see, there is no money to be made on a retailer.  He’s taking the last bit of profit for himself.

There is barely any money to be made with a middleman.  (That’s the level the distibuter you mentioned comes in.)

There is some money to be made with a TRUE wholesaler.  He buys from the manufacturer, marks it up some, then resells it.  Most manufacturers do not deal with anyone other than wholesalers, so this is where the chain starts for most products you can get your hands on.

Finally, there are the liquidation/surplus/closeout suppliers.  Here is where the real money can be made.  Why?  Because the items are so cheap!  They are just trying to get rid of them, and the prices reflect that.  You can made a killing on eBay if you find the right items in liquidation!

To learn the details about different suppliers and how to contact and deal with them, I recommend Chad Maslak’s book  “The Ultimate Insider’s Surplus, Liquidation & Wholesale Buying to Resell for Mega Profits Guide.”

I also have recommended OneSource for that, and I still do.

You can also check out my Ultimate eBay FAST-Start Success Formula course.  This course contains 6 1-hour audio lessons detailing ways to be successful selling on ebay.  More than 8 methods are explained in detail of how to find products to sell on eBay.

So, Leo, those would be my first few recommendations for you.

Keep looking (even using Google) and you will find a real wholesale supplier for your fishing lures!




Get Your eBay Answers Here!

Monday 18 June 2007 @ 12:00 am

 Recently I got an email from one of my readers.  This is what it said:

Mike,

I just got let go from my job again. I need to know how to start a good internet money making business asap. I have gotten alot of free stuff, and I have bought alot of stuff from you.

As a Powerseller, can you help me get started?

Thank you,

Dan

Let me first say I’m sorry for the loss of your job.  In these times when the economy is faltering, businesses have to downsize or end up going out of business themselves.

That’s why working for yourself can actually give you more security than relying on an employer!

First, Dan, I’m going to recommend something that I don’t usually recommend. 

Go to your garage. 

Go to your basement. 

Go to your attic. 

Go to your closets. 

Go to your storage unit (if you have one.)

When you need money ASAP, it calls for taking different tactics.

So go to all those places you have and collect everything that you could possibly sell on eBay that (1) isn’t of high sentimental value, and (2) you haven’t used in the last 6 months.

Dan, go take pictures and measurements of those items, and put them up on eBay.

That is going to get you started.

Sometimes that’s the hardest part - getting started.

Just today I drove past a house that has had an old “classic” car just sitting in the driveway. (It’s an old Opal GT, a care from the 70’s) I was thinking “I bet I could sell that old thing on eBay for  this guy.

So… Do you have any family members or friends that have stuff lying around that they would LOVE to change into CASH CASH CASH? I bet you do!

Go make a deal with them.  Not sure what to charge. Check out what other consignment shops are doing here.

Although this is a great way to get started, getting stuff from your friends and family to sell can be very time-consuming and hard to scale up.

You need to find suppliers of product that you can make your ad once and then sell it over and over and over!

So now it’s time to find some product sources!

I have recommended OneSource for that, and I still do.

You can also check out my Ultimate eBay FAST-Start Success Formula course.  This course contains 6 1-hour audio lessons detailing ways to be successful selling on ebay.  More than 8 methods are explained in detail of how to find products to sell on eBay.

So, Dan, those would be my first few recommendations for you.

I hope you can use eBay as your business, leaving the reliance on an employer behind you, and take the steps necessary to build your own eBay business! 




Can I Dropship If I Live in the UK?

Tuesday 9 January 2007 @ 12:00 am

I recently got an email from a subscriber in the UK asking about the new dropship / wholesale product sourcing service  from Worldwide Brands called OneSource.  He wrote:

Hi Mike,

Thanks for the attached info. I have been looking at Worldwide Brands packages for a while now.

However, the reason I have held back is because I live in the UK (England) and am aware that a large percentage of the directory I will not be able to trade with due to trade restrictions outside the US.

Are you aware of or do you have any suggestions for similar sourcing methods for the U.K.?

Kind regards,

Gary Cooper
 

To answer this question properly, I went straight to the source - OneSource.  Here is their reply:

Mike,

The answer to the question is ….

We do list suppliers that are located in other countries.

However, the bulk of the suppliers we list are in the US. A large percentage of the US suppliers will work with retailers that are outside the US. But keep in mind, that shipping costs would be exorbitant to any customers that you have that are not in the US, unless you purchase in small bulk quantities and ship the products out yourself.

We list on the supplier contact pages whether the supplier would setup an account with you or not, by placing the statement “Will setup accounts with International Retailers” in the comment blocks. Those suppliers are more than happy to work with you.

To get an idea of the percentages, over 50% of the suppliers that drop ship and over 65% of the suppliers that Light Bulk will work with you. That is a grand total of over 2000 suppliers to choose from.

If there are certain product types that you are wanting to sell, please be sure to contact our customer service department to inquire if we have a supplier that will work with you that carries that type of product.

Customer Support - Worldwide Brands.
 

So here’s the skinny…

There’s more than enough companies listed with OneSource that will work with you if you live outside the US.

Do not let that stop you from taking the next step in your eBay business!

But wait!!!

Did you notice the last paragraph of OneSource’s response?  Here it is again:

“If there are certain product types that you are wanting to sell, please be sure to contact our customer service department to inquire if we have a supplier that will work with you that carries that type of product.”

Have you ever heard of a company willing to help like that? 

When was the last time you heard a company say ‘Call us up and we’ll help?’

That’s part of what makes Worldwide Brands the leader, and their OneSource a great service. They are there to help you succeed in your eBay / web business.

Check out the video I made giving you an insider’s view of what OneSource is all about.

Click here to watch the video.




The ULTIMATE eBay / eBiz Product Sourcing Tool

Monday 1 January 2007 @ 12:01 am

The most popular question I get asked is: “What Can I Sell On eBay?”

It’s something that many eBay sellers need to know.

Today I am writing about a BRAND NEW tool just launched by WorldWide Brands that ROCKS!

It’s called OneSource. It is a web-based tool that allows you to quickly find one or more sources for practically any type of product. 

OneSource is the Only Source you need for:

  • Drop Shippers
  • Light Bulk Wholesalers
  • Large Volume Wholesalers
  • Instant Import Buys
  • Liquidators.

You can search by brand name, product, or supplier.  Not sure what to sell?  Then click on “product” and you can see every product categorized from A-Z.

Simply read through until you find something that catches your eye! 

Man.. There is Sooooo… much listed.

For example… click on the letter “B” and there are 1585 product categories listed. Ie… “B Vitamins”, “Ba Gua Zhang DVDs” (Don’t ask), “Babinski Hammers”,  “Baby Accessories”, etc..

Even the letter W has 1226 different product names! 

If you want a certain brand name, you can find all the brands represented also grouped by first letter. When I click on the letter “S”, I see there are 490 different brands listed. These include Samsung, Sandisk, Sony, etc…

This database contains the LATEST and greatest wholesalers and products.

It is UPDATED DAILY.

Another cool feature is that you have the option to only show suppliers added in the last 30 days. This makes it super simple to be the first to find a hot new product supplier!

Sweet!

I’ve put together a video to show you more.

***Click on the video picture below to watch it.****

Sound Only? Problems Watching Video? Need the latest Flash Player? Click Here to download it now!

 

Cool Facts About OneSource

  • OneSource is The World’s LARGEST Source of eCommerce Wholesalers
  • OneSource is NEVER oversaturated with too many sellers picking from the same small list of products/suppliers. OneSource is updated daily with NEW Wholesalers and Products.
  • Real-Time Market Research data is displayed on every product searched in OneSource! (Great for beginners so they can better understand what kind of products to sell…and of course where to get it!) Quickly find a products Demand, Competition, Advertising potential, current Auction Prices and an instant Analysis of the products chances of selling well online.
  • Great Value: Price: $299.00 with introductory offer of $50.00 off (Total: $249.00) - No Monthly or Annual Fees. One Time price for a LIFETIME Membership to OneSource.
  • Real Wholesale Prices: OneSource Wholesalers have the BEST Wholesale Prices you can get.
  • Real Wholesalers: OneSource ONLY lists Genuine Manufacturers and Factory Authorized Distributors.
  • Every Type of Supplier you Need: OneSource is the Only Source you need for Drop Shippers, Light Bulk Wholesalers, Large Volume Wholesalers, Instant Import Buys and Liquidators.

WorldWide Brands had done a GREAT job designing this valuable tool.

If you are looking for items to start or grow your eBay/Online business then click here to go check it out.

HIGHLY RECOMMENDED!




eBay Auction Ad Template SECRETS!

Friday 22 December 2006 @ 12:00 am

In the same day two different people contacted me asking basically the same question.

 

Hey Mike,

How’s things going?

Mike, I am sure you covered this somewhere or sometime in your Freebie Friday Newsletter, you do a great job with it!

Can you direct me to an EASY to use HTML software program that I can use to build nice looking auction description page for my listings?

Thanks buddy!

Todd B.

 

REPLY…

Hey Todd,

Thanks for the kind comments. I’ve answered your question in two parts below.

 

QUESTION #1: Program To Create HTML With..

First of all, EVERY eBay seller needs an HTML editor.

Probably the most popular HTML editor is Microsoft Frontpage.

(Note I didn’t say best… just most popular)

That’s what I use, but don’t necessarily recommend it! :-(

What I recommend is a free editor called NVU. (NVU stands for New View)

It’s 100% FREE and you can Download It Here.

It’s a GREAT editor that should take care of your HTML needs. Easy to learn and use and it writes very good HTML.

Highly Recommended!

 

QUESTION #2: Making Great eBay Auction Templates.

Sorry, but I can’t recommend a source of FREE eBay auction templates.  The ones that I have seen are kind of “cheesy”.

Some eBay sellers will try to make their own template.

PLEASE DON’T TRY TO DO THIS YOURSELF UNLESS YOU ARE AN ARTIST!

I can do a lot of technical stuff but I have very little artistic talent. :-(

Remember… The first step to overcoming a problem is to admit it exists. :-)

There are people who will create a PROFESSIONAL customized eBay template for you. You’ll have to pay $200 and up though which is beyond many new seller’s budgets. 

(There are even more people who will create a stinky looking template for you too and charge less! Ack!!)

Want to know my SECRET?  The easy method that I use to overcome my total lack of artistic ability?

I’ve joined a few membership sites which gives me unlimited access to about a gazillion templates, graphics, music, websites, flash graphics, etc..

Here’s the scoop…

These sites have an UNBELIEVABLE amount of high quality work. I go and grab some already done HTML work and strip out what I don’t need. Or I find music to use for my audio products, or artwork for my CD covers.

You can even download a complete ready to go live website. There are tons of regular HTML and Flash style websites.

It’s quick, easy, and looks much better than anything I could ever do myself!

Here are the two sites that I personally have used and highly recommend.

Resource #1

Resource #2 

What’s cool about the above sites is that you can go see what is available BEFORE you signup for them.

Why two sites?

I like Resource #1 because of their wide range of downloads. From logos to CD templates to MP3 music, I’ve used a lot of their stuff in my eBay ads and PlatinumPowerSeller website.

What I like about Resource #2 is that they have a large number of BEAUTIFUL Microsoft Word templates that are great for making ebooks. If you are looking to create an ebook then you’ll love the gorgeous template styles you can choose from there.

So if you want to make your eBay auction ads stand out, create fantastic looking ebooks, and make yourself standout from the competition, visit the sites mentioned and use the NVU editor to make it all happen.




$2.95 Trial Training Feedback

Thursday 21 December 2006 @ 3:27 pm

I recently received an unsolicited email from someone who supplied some feedback on the IMC (Internet Marketing Center) internet training software that I have been recommending that you invest in.

 

Mike,

For what it is worth, I have noticed that you have hooked up with IMC and just wanted to let you know that I bought this Package from IMC and have taken it a step further and have joined their mentor program for the last five months with a web site to go live in the next month or two.

I just wanted to let you know that the program is excellent and that this company knows how to get business for someone starting out on the internet.

Also, thanks for your newsletter and the great info you share with us. It is really appreciated.

Have a great Christmas and New Year.

Regards,

Rob Kilgus

 <> <> <>

You can receive a trial copy of the package Rob mentions above for just $2.95 plus S/H.

When you click below to visit their website there will be no doubt in your mind that these guys know what they are doing!

… And (after reading all of their success stories) that they know how to teach too!

Are you ready to learn for almost FREE?

If someone takes 99.9% of the risk to show you the ropes, will you give it a chance?

Check out the monstrous training package you can try for just $2.95!

What The $2.95 Trial Includes…

When you claim your $2.95 Trial Copy, you’ll get the entire 1,300+ page guide to starting and growing an Internet business, which includes…

  • Two 8? x 11? full-color three ring binders.
  • 9 steps, broken down into 70 lessons with step-by-step instructions included for every promotion and strategy.
  • Two 415+ page packages for a total of 850 pages, with tab inserts to keep organized.
  • Five resource CDs (with 471 pages of additional lessons) and one audio CD (39 minutes) packaged in a special folder that holds all 6 CDs — with additional lessons, examples, audio interviews, and articles, as well as time-saving software and invaluable resource files.
  • Two DVDs with 155 minutes of video footage — featuring Derek speaking “live” on stage in Orange County, California, talking ‘in person’ about how they grew $25 into over $60,000,000 in online sales

Here’s a picture of the package you’ll receive:

$2.95 Trial

As you can imagine, IMC is taking a HUGE risk by letting people try out the training for just $2.95. 

For that reason, this is a VERY limited offer. So if when you click it is no longer available, please let me know so I can remove this blog entry.

This is such an incredible offer! You’ve got nothing to lose, and everything to gain.

So don’t waste a minute! Click here right now to grab your $2.95 trial copy.

Click here to read the sales page BUT DO NOT ORDER FROM HERE!




Beware eBay Scams!

Tuesday 19 December 2006 @ 12:00 am

I just received an email from a reader in France.  It details his experience with people trying to defraud him.  I felt this is something that all my readers should be aware of.  After all, knowledge is power!  You can read his email and my response below:

“Mike,

I write you this (long) mail to talk about something [that] looks like a swindle. Last week, I put on sale on Friday evening a dozen of objects in my eBay store. I used the bid format for certain very popular objects (Palm treo 650, Ipod, Dell Laptop…) an immediate purchase price. On Saturday morning (thus less than 24 hr after) I connect on eBay, with the pleasant surprise to notice that the Treo 650 was sold in immediate purchase ($523). I send the simplified contact mail to the buyer, and this one, an English gentleman, answers me in his e-mail that he bought the smartphone to make a birthday present for a friend in Africa. He thus asks me to indicate him postal charges for Nigeria by DHL / UPS or Fedex. I let you guess the price of an express delivery towards Africa by these carriers (yes, $146!!!). This exaggerated price does not discourage my buyer who asks me for my email address to pay me by Paypal. That’s the end of the first episode.

During the day of Saturday, second good surprise, my ipod was also sold in immediate purchase… I began to ask some questions when I noticed that the buyer is also an English person, and like the first one, he has a feedback of zero on eBay. But it is when I receive an e-mail indicating that he bought the ipod for a friend and that he would like to know if I can send the purchase in Africa where I began to say to myself that it should be really cool to have an English friend…

End of the second episode

On Monday afternoon, the third episode : my Dell Laptop is sold in immediate purchase, to an English women, also feedback zero, which she would like to send it to a friend in the USA. Obviously she would like to pay this purchase + an express carrier with paypal. I thought for a long time where could indeed be the swindle, because Paypal is a system where you receive an e-mail when the money is credited on your Paypal account. Here we are, the money is credited on your Paypal account, not on your bank account. In France, that take from 5 to 7 working days to Paypal to credit your bank account from your Paypal account after you made the demand… What leaves widely the time to the « buyer Â» to retract by I do not know which means.

But your goods have been sent (with the added cost of the transport by Fedex!!!). Goodbye the goods…

How I managed this business? First precaution ALWAYS go to see the feedback of your buyer, we obviously all had one day a zero feedback, but for this kind of sale, a feedback of this type, registred on eBay since 1 or 2 days, MUST start your radars!!!

Second precaution: in view of the particuliarities and the similarity of these three cases, I sent an email to my three customers, explaining that I will accept the transaction by PayPal, BUT I will send the goods ONLY after 7 days for safety reason. And guess what?  My customers disappear, when I look on eBay I see the magic sentence «  No longer a registered user Â»â€¦

Ok, it’s over for this email, I apologize for my English…. I hope my email will be useful for you, and maybe for your readers all over the world. Maybe you can tell me if you already have seen the same kind of hassle on eBay.com?

Mike, you make a good job on platinumpowerseller.com

Best regards,

Georges in France”

 

Here is my reply to Georges:

“You have to be very careful when shipping an item to an address that is NOT the Paypal registered address since you will not be protected as a seller.

Sounds like some crooks broke into some people’s eBay and Paypal accounts and were trying to spend the money!

Rule #1.  When someone requests to send something express and are willing to pay $150.00 without blinking an eye, chances are they are a crook.

I NEVER send an expensive item to a non-registered Paypal address.

I like your methods too!

Glad you didn’t get ripped off. This is advice all eBay sellers can benefit from.”

 

So dear readers, be duly warned!  If things begin to sound unusual, do your homework and protect your eBay business!

 

..Mike




Q&A: How Do You Set Your eBay BIN (Buy It Now) Price?

Monday 17 January 2005 @ 5:36 pm

Q. How do you set your Buy It Now price?

A. There is no hard fast and rule for setting my BIN (Buy It Now) price.

When I have multiple quantities of the same item, I normally would prefer to move them consistently at a decent profit for each.

I do not expect extra profit due to a bidding war.

My target auction price is normally 40% or more of my cost.

To me, the purpose of BIN is to have it close enough the minimum (or reserve) that a bidder will think:
“Man, for $5.00, it’s not worth waiting for the auction to end. I just use BIN”.

I may be stereotyping here, but my personal experience makes it seem that most men (not teenage males :-) use BIN because they are simply to busy or forgetful to try to snipe bid the item. (Snipe=To put in your bid at the last moment)

These are the hunters. They shop for necessity, not for pleasure.

For example, I needed a 12 volt battery for my alarm system one day. I checked eBay for the lowest BIN, bought it and crossed the job off of my list.

So.. when setting that price I think “How much would someone be willing to pay for the convenience of BIN?”

Usually, it is about 15% above the minimum or reserve.

IF… I am selling a one of a kind item, that I cannot find an eBay history for, I will usually NOT use a BIN!

Simply because I’m not in a big rush to get it sold. Chances are it’s already been sitting in my warehouse for weeks, so who cares about 7 days more. Recently we listed an original Elvis Tshirt from 1956 that belonged to my mother-in-law. Although it had rips in the underarms, the logo picture was still in decent shape. We had no idea of what it would bring. So, we set a $25 reserve and NO BIN. What do you think it went for? If you guessed $274.00 then you guessed right :-0

Woo..Hoo…!

So for a recap. IF there will be a BIN, I normally do 15% above the minimum/reserve

Of course, you never know until you try. If it works well, then try raising it. If it doesn’t work try lowering it.

That is the only way to find out what will work for you.




Q&A: What Type of Auction Should You Use?

Friday 14 January 2005 @ 3:39 pm

Q. How do you decide whether to use a regular auction, Dutch auction and/or BUY IT NOW?

A. This is definitely an experience situation. It depends mostly on:

What are you selling ?
How many of them do you have to sell?
How soon do you need to move them?
How “HOT” is the item?
Here are the “rules” that I follow:

- If I have a unique item that I only have one of, I run a regular auction WITHOUT Buy It Now (BIN) for 7 days if I can see others recently sold, or 10 days if I can’t see any recent sold history which probably means it is hard to find.

- If I have an item that I repeatedly sell and have a continuing supply, I run BOTH Dutch and regular auctions. I stagger them throughout the day.

(I live on the East coast so times below are EST)

10:45am - Qty 1. Regular auction with Buy It Now
03:30pm - Qty 3. Dutch auction
07:35pm - Qty 1. Regular auction with Buy It Now
11:00pm - Qty 3. Dutch auction

Why?

Because some people hate waiting and bidding and will use BIN, while others feel comfortable that they can put in a minimum bid and will get their item in the Dutch format.

Space out the auctions evenly, alternating between the formats. (ie Reg/Dutch/Reg/Dutch..)

If you are consistently selling out (or almost) then consider adding another auction. If I were to add to the above schedule, I would try adding a midnight auction (which is only 9pm on the West Coast), or try a combo of 9:30am / 12:30 / 3:30 / 6:30 / 9:30 / 11:30. You always want one of your auctions to appear in the front page, (By having it close soon)


Note! Remember that eBay doesn’t like you to have more than 10 IDENTICAL auctions running simultaneously. So be careful!

HOW TO FIGURE DUTCH LEVELS

I seldom see (or expect) a bidding war to take place in a Dutch auction.

For most sellers, the purpose of this format is to sell a bunch of items FAST. My purpose is to sell CONSISTENTLY! I may have 100 identical items to sell, but I don’t expect that if I ran a Dutch Qty 100 auction that I would sell them all.

Why? Unless you have an INCREDIBILY hot item, I don’t see that happening
(Please email me with examples if I’m wrong :-)

Thinking as a BUYER, if I see a Dutch auction with a 99 qty, I’ll think “Ahhh.. I can buy this anytime.” If I see a qty of 3, I’ll think “Oooh.. better buy now sounds like they are almost all gone!”.

So, I tend to keep my dutch qty as low as possible. To me, Dutch qty=2 doesn’t make sense, so qty=3 is a the minimum I do. Keep your qty 0-2 below your # of bids.

For example: You list qty=3, and get…
4 bids = Keep it at 3.
5 bids = Keep it at 3.
6 bids = Up it to 4.
7 bids = Up it to 5.

To succeed in eBay, you need to be concerned with MANY small victories, not a few “big scores”. “Big scores” are gravy, while consistent average sales are your bread and butter.

The name of the game is a consistent stream of sales!