Online Auctions | Online Auction Sites | Online Auction Business

The Online Auction Business

Online auction sites such as eBay have really grown in popularity over the past few years. And it's easy to understand why. From a buyers perspective when you browse online auctions you can find just about anything you might be looking for. From collectables to clothing, from automobiles to the odd and weird. It's listed at online auctions. And from a sellers point of view, if you have something that is worth selling you are bound to find a buyer for it at online auction sites.

As explained in my book eBay Marketing Wholesale SourcePak, eBay like other online auction sites is a community of members who can buy/sell items locally, nationally and internationally. And while eBay has over 100 million members there are rarely any real problems between buyers and sellers. I believe much of this can be attributed to the eBay feedback system. Feedback is where buyers and sellers can leave comments on their experience with each other. Whether it was a good or a bad transaction, you can read about it in the feedback. Now I won't lead you to believe there are no problems at all, because that would not be right. But all in all things run very smoothly.

Harris Poll did a survey regarding online auctions that I found quite interesting.

43% of participants said that they bid at online auctions looking for bargains, 23% said they are looking for hard-to-find items and 21% were looking for collectables.

When it came to how confident buyers are at receiving their purchases, 54% were confident and 40% were very confident they would have no problems receiving their product. This compared to only 1% who was not confident about online auction sites.

51% of those surveyed said they always check feedback before buying from a seller and 36% said they usually do. Only 3% said they never check. I've got to believe that this 3% are newbies.

A whopping 83% of participants said they had bid and purchased items from online auctions. With 51% saying the average value of the product bought was up to $50.00. 24% said the value was $51. - $100. and 21% said $101. - $500.

66% paid for their items by personal check, cashier check or money order to the seller. While 44% paid by credit card using the third party payment service listed on the online auction sites. And 59% said they had never experienced a problem with their purchases.

Considering eBay recently reported $15 billion in annual merchandise sales, there is generally very little problems between buyers and sellers. That is one of the reasons eBay makes such a great home based Online Auction Business.

Check out our Business Package and discover for yourself how you can make a Serious Income with Online Auctions. Plus, have Instant Access to over 250 Legitimate Wholesale Suppliers with 500,000+ products to choose from every day.

Copyright - Joe Clare

 

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