The eBay Myth-Buster: Turn 199 Misconceptions Into Money!
1.Twenty-Five Most
Common Myths About Bidding
Lose that item you really coveted because a last-minute sniper snatched it away from you? Did you lose an auction even though your top bid was exactly the same as the winning bid? Do you think it’s impossible to find things on eBay that you can resell at huge profits? Think again. This chapter examines some of the most common myths about bidding, and shows you how to win those auctions you really want at the lowest possible bid.
Myths About Bid Amounts
Myth # 1: The highest bid always wins.
Myth # 2: You should bid the exact amount you want to pay.
Myth # 3: The highest bid determines the final price.
Myth # 4: You can’t outbid yourself.
Myth # 5: If your original bid is too low, bid a little more until you become the high bidder.
Myth # 6: You’ll probably need to bid many times to discover an auction’s reserve price.
Myth # 7: Sellers can see what your highest bid is without your knowledge.
Myth # 8: There’s no way other buyers can determine what your highest bid might be.
Myths About Sniping and Bid Timing
Myth # 9: Place a large bid early in the auction so you won’t be outbid.
Myth # 10: Sniping is a sure way to win an auction.
Myth # 11: Snipers must have inside information. How else could they top my bid by only a dollar?
Myth # 12: Sniping isn’t fair!
Myth #13: Sniping costs sellers potentially higher bids.
Myth #14: You need to monitor an auction’s final minutes to snipe effectively.
Myth #15:Snipe a very high bid at the last second to trump other snipers.
Myth #16: You need a fast Internet connection to snipe competitively.
Myths About Bidding for Bargains
Myth # 17: Sellers use “shill” bidders to increase the price of auctions.
Myth # 18: You can’t find bargains for resale on eBay!
Myth # 19: You can’t find true bargains by searches alone.
Myth # 20: You can’t bid with more than one eBay ID.
Myth # 21: If you’re outbid, you don’t have to worry about winning the auction.
Myth # 22: If you decide you no longer want an item, just retract your bid.
Myth # 23: A seller is forced to sell to you even if your winning bid is very, very low.
Myth # 24: An ordinary bid on a Buy It Now auction means you’ll get the item more cheaply.
Myth # 25: Sellers who say they won’t ship to Canada won’t ship to Canada.
2.Twenty Ways to
Successfully Conclude Your Sale
After you’ve won an auction, all you need to do is make payment and collect your prize, right? Not necessarily true. This chapter reveals some of the pitfalls you can avoid after the sale, and ways to ensure a smooth, trouble-free transaction.
Myths About Closing the Transaction
Myth # 26: Sellers are required to contact you within three days.
Myth # 27: Sellers aren’t allowed to auction items they don’t actually have on hand.
Myth # 28: This is a once-in-a-lifetime chance to buy a particular item!
Myth # 29: It’s safe to assume that shipping costs will be reasonable.
Myth # 30: “Actual shipping cost” includes the postage or shipping fee only.
Myth # 31: Expect to pay more for shipping to APO addresses.
Myth # 32: Sellers will gladly ship to any address you specify.
Myth # 33: If you live in Canada, ask the seller to mark the customs form as a gift.
Myth # 34: Pay for Priority Mail shipping -- it’s much faster!
Myth # 35: Ask for Delivery Confirmation so you can track your package.
Myths About Paying for Your Auction
Myth # 36: You must pay for your auction within 14 days.
Myth # 37: Sellers won’t ship your item until your personal check clears.
Myth # 38: Postal money orders are the safest way to pay for an eBay purchase.
Myth # 39: Postal money orders are good anywhere.
Myth # 40: Convenience store money orders are unsafe.
Myth # 41: Sending well-concealed cash can save money order fees.
Myth # 42: Bank wire transfers are fast and easy.
Myth # 43: If a seller specifies PayPal only, it’s never okay to send a check.
Myth # 44: You must pay postage to return an unsatisfactory item.
Myth # 45: Sellers must ship within seven days of payment.
Part II: Myths About Selling
3.Twenty-Two Basic
Things You Must Know About Getting Started as a Seller
Getting started as a seller on eBay is easy, but many newcomers fall prey to some commonly accepted guidelines that simply aren’t true. This chapter exposes the most common myths about starting up an eBay online business.
Myths About Setting Up a Selling Account
Myth # 46: To sell on eBay, you must register a credit card number and a bank account.
Myth # 47: You can’t convert a “buying” account to a “selling” account.
Myth # 48:Setting up separate accounts requires a different credit card for each.
Myth # 49:You can have only one eBay selling account.
Myth # 50: There’s no advantage to using separate accounts for buying and selling.
Myth # 51: You must pay your selling fees with a major credit card.
Myth # 52: Even though eBay canceled your previous account, you can set up a new one.
Myth # 53: EBay requires your Social Security or Taxpayer ID number to be on file.
Myth # 54: Use a phony telephone number for privacy, because everything is done by e-mail.
Myths About Feedback and Your First Sales
Myth # 55: New sellers with low feedback can’t sell anything.
Myth # 56: You can never have too many feedbacks.
Myth # 57: Buy a bunch of cheap items to jump-start your feedback numbers.
Myth # 58: Selling items for one cent when you start out is a good way to build feedback quickly.
Myth # 59: EBay’s verification program has no advantages, because you need feedback first.
Myth # 60: Family members can buy a few items from you at first to help build up your feedback.
Myths About Building Your New Business
Myth # 61: Shipping supplies aren’t free.
Myth # 62: EBay Stores are a good way to attract business
Myth # 63: About Me Pages are just about you.
Myth # 64: Become a PowerSeller as soon as possible, because they have greater credibility.
Myth # 65: Becoming a PowerSeller is difficult, because eBay’s standards are so high.
Myth # 66: PowerSellers get away with minor infractions on eBay.
Myth # 67: Linking to your Web pages can increase sales.
4.Ten Most Deadly Myths About Selling
It’s surprising how many sellers on eBay either fail, or work long hours for little payback. That’s because they fall for the common myths about selling and end up competing with hundreds of other sellers who use the same incorrect guidelines. This chapter summarizes some of the most commonly held things you absolutely know are true about selling on eBay -- but are wrong.
Myths About Slumps and Humps
Myth # 68: Free Listing Days are eBay’s generous gift to you.
Myth # 69: Selling slumps and humps are unavoidable.
Myth # 70: Holiday weekends and Super Bowls drain away all of the bidders.
Myths About Competing
Myth # 71: Your eBay Store should include the same items you have on auction.
Myth # 72: You need to sell common items for less than your competition.
Myth # 73: It’s best to sell items in the most logical eBay category.
Myth # 74: It’s impossible to sell something that’s unique.
Myth # 75: If you sell on eBay you don’t need a Web page, too.
Myth # 76: There’s no defense against prank bidders and deadbeats.
Myth # 77: You can block bidders with low or negative feedback from your auctions.
5.Twenty-Two Myths
About Basic Auction Techniques
Some sellers
get off on the wrong foot right from the start, choosing the wrong categories,
worst starting times, and unappealing titles for their auctions. Even before
you get started adding text, photos, and other components, you need to
design your auction’s basics carefully. This chapter shows you which pitfalls
to avoid.
Myths About
Timing
Myth # 78: Sunday nights are the best time to have your auctions close, because that's when the most people are at home browsing eBay for something to buy.
Myth # 79: Collectibles should close on Saturday when hobbyists are working with their collections.
Myth # 80: Weekday afternoons are the worst time to close.
Myth # 81: You want to expose your auction to the largest possible number of bidders.
Myth # 82: Interested buyers will bid over the entire course of an auction.
Myth # 83: A 10-day auction provides extra time for higher bidding.
Myth # 84: A 1-day and 3-day auction can get you more money, more quickly.
Myth # 85: Auctions always start at the time you submit them.
Myth # 86: Make sure you have some auctions closing every day.
Myths About Basic Setup
Myth # 87: Use terms such as L@@K! and NEW! in titles to catch buyer attention.
Myth # 88: A long auction title is sufficient; subtitles never add any value.
Myth # 89: Attract bidders by filling your auction titles with brand names of competing items.
Myth # 90: Put lots of related key words in your text, even if they don’t apply directly to your auction.
Myth # 91: Choosing a category isn’t important because most bidders search by key-words.
Myth # 92: Sell in more than one category to attract extra bidders.
Myth # 93: Dutch auctions are the best way to sell multiple items.
Myth # 94: Buy It Now and Fixed Price Auctions are essentially the same thing.
Myth # 95: Your Buy It Now price should be 30 percent higher than your opening bid price.
Myth # 96: Most bidders will wait until the end of the auction and offer the opening bid price rather than use Buy It Now.
Myth # 97: Fixed Price Auctions can’t be used for single items.
Myth # 98: If your auction includes photos, you don’t need to pay extra for Gallery exposure.
Myth # 99: Never disclose
shipping costs in an auction; they vary by distance anyway.
6.Twenty-One Rules
For Designing Compelling Auctions
You need to create an exciting, eye-catching auction to attract bidders, correct? Nope. By the time they’ve browsed to your auction page your bidders are already pre-disposed to make a bid. Your job is to get them to click on your auction in the first place, and when they view it, provide them with the information they need to decide to place that bid.
Myths About Auction Designs
Myth # 100: Animations can lead the visitor's eye to the part of the auction you want to feature.
Myth # 101: An attractive background makes your auction look distinctive and more professional.
Myth # 102: Background music and sounds can create a mood that will clinch the sale.
Myth # 103: JavaScript and fancy HTML can improve your auctions
Myth # 104: Using eBay’s templates can give your auctions a distinctive look.
Myth # 105: Auctions should be designed to look good at 1024 x 768 resolution.
Myth # 106: Lots of explanatory text makes your auction more compelling.
Myth # 107: Use large blocks of text to pack in as much information as possible.
Myth # 108: Use many large photographs so bidders will know what they’re getting.
Myth # 109: Don’t describe your items in detail; the pictures should be enough.
Myth # 110: EBay won’t let you link to your Web site from your auction page.
Myths About Your Auction's Rules and Regs
Myth # 111: It's smart to spell out every possible term and condition in your auction text.
Myth # 112: Your own rules take precedence over eBay’s regulations if clearly stated.
Myth # 113: You can make money by padding shipping/handling charges.
Myth # 114: If you charge too much for shipping, eBay will penalize you for fee avoidance.
Myth # 115: Demand fast payment to avoid problems.
Myth # 116: Mention that you ship only on Tuesdays and Thursdays.
Myth # 117: Specify drop-shipping to quash complaints about slow delivery.
Myth # 118: Simplify your work by limiting the areas to which you’ll sell.
Myth # 119: Require UPS shipping to make things easier on you and your buyers.
Myth # 120: Nip problems in the bud by promising negative feedback if your terms are violated.
7.The Thirteen Most
Uncommon Ways to Find Things to Sell
The problem with searching for things to sell in all the traditional places is that everyone else knows about them, too, and they’ve been picked clean. This chapter explodes the myths about product sourcing, and shows you ways to find items that others have overlooked, or which cannot be duplicated.
Myths About Local Sources
Myth # 121:Garage sales are a great place to find bargains offered by naïve homeowners.
Myth # 122: Garage sales are where eBay left-overs go to die.
Myth # 123: You can find under-priced items at flea markets.
Myth # 124: Thrift stores are non-profit outlets, anyway, so their prices are always a bargain.
Myth # 125: “Dollar” and closeout stores are good sources of supply.
Myth # 126: Dumpsters are great places to find items for resale.
Myth # 127: Auctions always have items that lend themselves to eBay sales.
Myths About Wholesale Items
Myth # 128: Wholesalers are a good source of items to sell on eBay.
Myth # 129: Dropshippers make it possible to sell on eBay with no inventory at all.
Myth # 130: Find a list of “hot” items you can buy cheaply, and then sell the same thing.
Myths About Creating Your Own Stock
Myth # 131: You can’t create your own items to sell on eBay.
Myth # 132: Artists and musicians can find a ready market for their art on eBay.
Myth # 133: Informational items cost nothing and sell well on eBay.
8.Seventeen Mythconceptions
About Feedback
Feedback is one of the most misunderstood aspects of eBay. Most eBayers don’t even realize that it’s optional. Even fewer bother to fully explore the Feedback Report Card and understand how to use it to their advantage. This chapter provides valuable tips on using (not abusing) feedback.
Myths About Leaving Feedback
Myth # 134: Sellers should not leave feedback until the buyer does.
Myth # 135: Feedback is considered part of the transaction.
Myth # 136: Always ask your transaction partner to leave feedback.
Myth # 137: Negative feedback is usually deserved.
Myth # 138: Sellers with negative feedback should be avoided.
Myth # 139: Sellers should cancel bids from buyers with low or no feedbacks.
Myth # 140: You can only leave feedback for 90 days.
Myth # 141: Neutral feedback is the same as negative feedback.
Myths About Dealing With Bad Feedback
Myth # 142: Feedback responses should be an eye for an eye, a truth for a truth.
Myth # 143: Feedback can’t be retracted or changed.
Myth # 144: Feedback should be left as soon as possible.
Myth # 145: Neutral feedback remains on your Report Card forever.
Myth # 146: Mutually Removed feedback disappears from your feedback record.
Myth # 147: All eBay feedback is associated with a specific transaction.
Myth # 148: You can threaten a buyer/seller with bad feedback if you don’t get what you want.
Myth # 149: Feedback an individual receive is more important than feedback that individual has left.
Myth # 150: EBay will remove feedback if it includes words like “liar or cheat.”
Part III: The Most Deadly Myths
9. Twenty Outrageous
Myths About PayPal and eBay Security
While PayPal is the most popular payment option, there are other forms of payment, and they are sometimes as badly misunderstood. This chapter clears up the myths about PayPal and the other common options, and looks at the question of security. Exactly how are buyers and sellers protected, financially?
Myths About PayPal
Myth # 151: PayPal is free.
Myth # 152: You can have only one PayPal Account.
Myth # 153: PayPal protects buyers by offering refunds.
Myth # 154: PayPal protects sellers from chargebacks and payment reversals.
Myth # 155: PayPal can take money from your checking account without your permission.
Myth # 156: PayPal sellers must supply a Taxpayer ID or Social Security Number.
Myth # 157: Withdrawals from your PayPal account are always free.
Myth # 158: PayPal Personal Accounts can be used to receive auction payments with no fee.
Myth # 159: There are no limitations on the amount you can withdraw from your PayPal account.
Myth # 160: PayPal shares the “insurance” fees it charges the buyer with the seller.
Myth # 161: It’s okay to charge buyers a surcharge for using PayPal.
Myth # 162: PayPal buyers outside the US can’t have Verified Addresses.
Myths About Security
Myth # 163: Your eBay or PayPal account may be easily hijacked.
Myth # 164: Passwords that aren’t names, birthdays, etc. are perfectly safe.
Myth # 165: Online transactions are much less secure than those made in a traditional brick-and-mortar store.
Myth # 166: PayPal or eBay will sometimes e-mail you asking you to confirm account information.
Myth # 167: If the “header” or URL in an e-mail looks legitimate, it probably is.
Myth # 168: Once the seller ships, the item is the buyer’s responsibility unless insurance is purchased.
Myth # 169: Never give out your checking account number to strangers.
Myth # 170: Money Orders can’t be cancelled.
Myth # 171: Sending or accepting personal checks is risky.
Myth # 172: International sales are complicated and risky because payment is difficult.
10. Fourteen
of EBay’s Deadliest Sins
Real life has Seven Deadly Sins, but eBay has twice that many. Many sellers and buyers commit offenses against these fatal no-nos even without realizing it. This chapter outlines myths about the worst crimes against eBay, and shows you how to keep out of eBay purgatory.
Myths About Bad Things and Bad People
Myth # 173: Shill bidding: An easy way for a seller to inflate prices.
Myth # 174: Bid shielding: Lets scammers buy an item at a bargain price.
Myth # 175: Non Paying Bidders: Suspended after three violations?
Myth # 176: Keyword spamming: Brand names and other extra key words in your auction attract bidders.
Myth # 177: Sneaky links: EBay doesn’t allow you to include links to your Web page.
Myth # 178: False contact information: Fudge your contact information a little to protect yourself.
Myth # 179: Auction interference: If a seller is asking too much for an item, it’s OK to e-mail their bidders and tell them.
Myths About Bad Things and Good People
Myth # 180: Changing your mind: If you change your mind about a purchase, you can ask the seller to cancel.
Myth # 181: Bid retraction: You can cancel your bid at any time, for any reason.
Myth # 182: Canceling your bid: Sellers can’t cancel your bid without a good reason.
Myth # 183: Lost fees: EBay will refund all your fees if a buyer doesn’t pay.
Myth # 184: Rebate consequences: Getting your fees refunded always results in a black mark against your buyer.
Myth # 185: Bad credit: EBay will suspend your account if your credit card expires
Myth # 186: Blocking a bidder: There’s no way a seller can keep you from bidding on an item you really want.
11. Thirteen
Ways to Avoid Flunking EBay Photo School
Good photos are the best way to boost your sales, but many sellers think they have to be professional photographers to get the right kind of pictures. Not true, as you’ll discover in this cheat sheet for eBay Photo School.
Myth # 187: It’s OK to use someone else’s photo if there is no copyright notice on it.
Myth # 188: Letting others use your photos in a good idea.
Myth # 189: Vendors don’t mind if you use their photos of their products in your auctions.
Myth # 190: EBay won’t help you if your photos are stolen. It’s between you and the other seller.
Myth # 191: You don’t need a good photo if your description is complete and accurate.
Myth # 192: Use as many different photos as you can.
Myth # 193: Editing your photos should take only a minute or two.
Myth # 194: There’s no way to make low-resolution photos look good.
Myth # 195: A film camera is your best bet for inexpensive eBay photos.
Myth # 196: The cheapest digital camera is good enough for eBay.
Myth # 197: Scanners are only good for flat objects, like magazines.
Myth # 198: EBay’s picture service is your best choice for hosting a photo.
Myth # 199: You shouldn’t pay anything for hosting; there are lots of free services that work great.