The Workings of EBay

eBay works in a very simple manner. There are no hidden secrets for you to learn before you start selling online and there are no hidden costs credited to you. All you have to do is list an item for sale on eBay. The item can be as simple as a watch or as elaborate as your lost uncle's stamp collection. You can either accept bids on your item in an auction format or you can offer buyers the "Buy It Now" option that allows them to buy your item immediately.

Powersellers quickly learn what sells on eBay and what doesn’t. When you find an item, or a group of items, that
sell well you’ll want to learn to utilize your selling techniques as much as possible. The online auction method is simple to understand. The opening bidding price begins at a price that you determine for a certain number of days, chosen by you.

During this time buyers place bids on your item. At the end of the listing period, the highest bidder wins the item.
The "Buy It Now" method of selling simply means that the first buyer who is willing to pay the price you are asking
for your item wins the auction. There are some things that you should know and understand about the selling process at eBay. These important points will be discussed in a later chapter.

eBay provides you with all the tools you need to begin your selling your items immediately. eBay has fine-tuned
the art of the online auction by trial and error. They want to ensure your success and have developed a step-by-step formula for you to register, list your items, maintain your eBay account, and make a profit. EBay's step-by-step formula includes:

• Decide what you want to sell and do the appropriate research to become knowledgeable about your item.
• Register at eBay and get a seller's account.
• Accurately and concisely create an eBay "listing" for the items you are selling.
• Receive payment from the buyer after your item sells.

EBay's online virtual marketplace has all the tools you need to sell successfully and make a profit. The simplicity of eBay makes it easy for you sell confidently in a stress-free online atmosphere.

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Lesson Intro Video

The Benefits of Being an EBay Powerseller (Prev Lesson)
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