Online Auction Blog: August 2008 Archives

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August 25, 2008

A New Focus on Retirement Years?

The US population is aging - this is clear. I have seen estimations that within less than 30 years, there will only be roughly 2 workers contributing to Social Security for every elderly person receiving benefits. By contrast, the ratio in 1950 was 16:1.

Baby boomers have begun to retire. The next 2-3 decades will result in a significant shift of market products and services to address the needs of these people. The focus has already begun to move. Concerns for an increasing percentage of the population now revolve around Roth IRA's, retirement calculators, retirement homes, Medicare and endless other needs for those transitioning into their "autumn" years.

Given this explosive coming demand, I'm having difficulty locating almost any products or services auctioned in eBay that are specifically targeted to this segment of our citizenry. Oh sure, a retired person can search for specific items of interest like anyone else (think golf equipment, hearing aids, retirement homes, and so on). But what about a separate eBay category for those of retirement age? Until eBay itself provides such a specific category (if ever), the savvy eBay seller could do so with an under-the-radar marketing campaign to seniors. What an opportunity to corner a market for a few years while others catch up!

Posted by SydneyJohnston at 12:17 PM

August 20, 2008

No eBay Fees For Listing?

Are eBay fees about to make a dramatic change? Many analysts think that the new CEO of eBay, John Donahoe, is going to do just that. What he is planning to do is eliminate listing fees - meaning it will be free to list an item for sale on eBay. The seller would only pay if the auction/BIN results in a sale. A nd he will possibly make these changes in time for the 2008 holiday season.

Certainly a powerful reason for this change is the dramatic success of Amazon. The famous online store has apparently lured away many eBay sellers because of its policies:

1. No listing fees
2. A sale fee (in eBay terms, a Final Value Fee) of 15%

Personally, I think a 15% fee is beyond outrageous, but Amazon is much like WalMart ... they dictate the terms and if we don't like it, tough! It might be interesting to test demand on Amazon and then offer successful items on eBay. However, if Donahoe changes the eBay fees there won't be any need for that. Stay tuned for further developments.

Posted by SydneyJohnston at 12:35 PM

August 16, 2008

Thrift Store = Thrift Savings = eBay Profits

Thrift savings can easily - although it's not guaranteed - turn into eBay profits. Thrift stores often goodies than might be damaged, worn or otherwise beat up or used, but that is often balanced by uniqueness. There are things to know if you're going to use this business model.

The Goodwill thrift store is a famous example of a source of inexpensive goodies. But shopping there means lots of bulk items. eBay sellers will need to list hundreds of items if they're going to make a profit which means:

1. Lots of auctions to keep track of ...
2. Lots of inventory tracking necessary ...

This makes tools an absolute must ... if you are going to use this model, think this part through carefully. Excel spreadsheets? Online services? Inventory and auction software? Bookkeeping programs?

Personally, I don't like spreadsheets at all, but lots of folks do and you can use them to see what sells over time. You will come to understand which items sell well - and which do not, so that you can begin to specialize and look for certain kinds of merchandise.

Organizing your inventory physically is important, as well. Ask me how I know! In my early eBay days I would auction an item - and then sometimes spend a lot of time locating it. You will want to take the time at the beginning to create a system that works well for you. Wasting time searching isn't the only penalty for disorganization ... you don't want to send the wrong item to a buyer which can definitely occur without a system..

Be certain to be totally honest in your eBay descriptions. Buyers won't be happy, to say the least, if your item isn't as promised. A rating system, whether yours or someone else's, will help to ensure they get exactly what they paid for. Most of us are familiar with the "star" rating systems: 5 star = top quality, which 1 star = the lowest.

eBay offers a bulk listing program at no cost and it's the easy way to get all of that merchandise posted. eBay is currently talking about removing ALL listing fees which will certainly be a boon to sellers.

Thrift stores can be the source of substantial eBay profits, but pay attention to some of the guidelines above to avoid having your thrift savings turn into expensive mistakes on eBay.

Posted by SydneyJohnston at 8:54 PM

August 12, 2008

A Closet Full of Shoes

I admit it. I just don't get America's love affair with shoes. But alas, it's true. Even on eBay, on any given day you'll see about a quarter of a million auctions and BINS with shoe offers. It's hard to wrap your mind around such a large number. These are just our feet, after all. But we love our shoes!

Any style or brand you can imagine is available. There are the more popular sports shoes such as Nike and Adidas. And then there are also the many (many!) lesser know styles, including women's Dansko boots, men's Florsheim shoes, Journey shoes, Munro shoes, and so many others. The range of options and preferences are mind boggling. How does anyone even make a decision... Comfortable and inexpensive are the two primary characteristics that attract me - it makes shoe shopping much simpler.

August 8, 2008

Can We Beat Cancer?

Cancer. Just saying the word sends a chill down the spine of otherwise strong individuals. It's the scourge of our generation, and the frightening thought is that it comes in so many forms. Breast cancer , pancreatic cancer , kidney cancer , bladder cancer , and so many more are wreaking havoc around the world.

One of the many ways of fighting back against the onslaught of this killer is through the raising of funds for medical research. As great a wealth of products as are available in eBay, medical miracles are simply among those that unfortunately cannot be auctioned online.

However, eBay is awash in gifts and awards for cancer fund raising activities (such as walks). If you want to initiate or participate in such an event, you will find many great anti-cancer related bracelets, hats, T-shirts and other items you can utilize as small incentives to draw in others for your work. It's a gratifying effort, and every dollar raised is another small step toward the demise of this monster.

August 4, 2008

Private Label Rights Mistake #2

In an earlier post we mentioned that private label rights products are a major part of our business. We began using them at least a decade ago and have made tons of mistakes when circulating them around the Net. I've already mentioned our earlier mistakes of including dated refences in the private label reports, so let's discuss another biggie ...

When creating any private label rights products, it's a mistake to be too specific, because things change. For instance:

* What if you mention the price of a product - and it changes ...
* Or, what if you mention a "30 day trial" - that was over three years ago ...
* Or you mention a 'brand new' site - and your reader tunes in two years later ...

Specific information can easily become irrelevant or outdated. The author of "How To Get Free Traffic With PLR Reports" mentions that he included a price for a membership site and he's "... gotten ugly emails accusing me of fraud and false advertising, with threats to turn me in to the attorney general and all kinds of nonsense."

So be quite careful with the information you include in your private label rights product or it just might come back to bite you. You surely don't want the attention of the attorney general of your state. :-)

August 1, 2008

Ah - The Elegant Look of Beauty

There is no doubt that a high percentage of Americans live in perpetual fear of being left behind. No matter what the issue - school, sports, money. It doesn't matter. We want to keep up with and surpass not only those whom we know, but complete strangers as well.

This is no more apparent than in our outward appearance. Many people are consumed by insecurities about looks. As a result, beauty products are rampant. Look anywhere and you will find products that promise to restore the lost years or enhance already-existing attractiveness. These come in the form of organic face creams, wholesale colognes, well-known makeups, cheap skin care products, and a seemingly endless array of other cosmetic items.

Is this attention to appearance a bad thing? Not necessarily. Aesthetics are an important part of human enrichment, and this is certainly so with personal care. It becomes bad when the concern turns into a compulsive competition to reach an unattainable standard.

Anyway, eBay sellers have certainly capitalized on this self-interest, as there are many, many thousands of makup products listed on any given day for a bid or purchase. It would be a tough market for the novice eBay-er to enter, but the popularity of these products means it has potential for those who begin prudently.