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Online Auctions
Online auctions are a fantastic way to earn some extra cash. Unless you live in a cave in the arctic and haven't seen daylight for the last 20 years that is - you will most definitely have heard of ebay. The largest UK auction site. A lot of people have realised that you can earn pretty well by selling on ebay and similar auctions sites. Yes, believe it or not, ebay is not the only auction site in the UK, but, it is by far the biggest.
Online Auctions, such as eBay are turning out to be a great source of income for many. Sell whatever your like. See what you have lying around the house in your garage, basement or loft you could put up for sale. You would be so surprised what people will buy that you think is useless. You could also find a wholesaler who could provide you goods in bulk cheaply which you can sell on at a profit.
Also remember when selling with online auctions, to take into account any fees that they will charge you, this is sometimes the only downside, but if you account for them before selling you can add them into the price.
ebay.co.uk.
- eBay.co.uk is of course THE biggest online auction site in the UK, and is a great source of income if you sell consistently. Is 100% safe, and with ebay now owning PayPal, everything works seamlessly together, sellers and buyers have their respective protection policies to help protect should anything go wrong with a transaction.
The only downside we have found with ebay is probably the fees they charge. All sites inevitably want to make money but with ebay you will get charged 3 times:
1) Listing fees for listing your item in the first place, which will vary on the value of the item you are selling. Remember, you will get charged this whether you sell your item or not.
2) Then if you do sell your item you will be charged what is called a FVF (Final Value Fee) which is a percentage taken from the final selling price of your item, again the % will be dependant on what format you have listed your item with and of course the final selling price.
3) If you have used Paypal as your payment processor (which most people do nowadays unless you have agreed to accept cheque or postal order) you are inevitably charged the Paypal receiving fee.
These 3 fees put together can mount up, so before you put anything on ebay make sure you account for these fees, and if necessary add them on to your initial starting price.
Also, don't forget to add up your postage and packing charges before you list your item. There is no point in weighing your items afterwards only to find that you haven't charged enough postage, which will then eat into any profit you have earned. Always weigh your items and work out a reasonable packaging charge BEFORE you list, then you can display this in your listing and everyone knows where they stand.
All in all though, ebay is a pretty good way to earn some cash, as long as you take everything into account.
Other Auction Sites
Bid and Click
- Bid and Click is a unique online auction site offering consumers the chance to purchase products way below the high street prices. The Successful Bidder is the one who places the lowest unique bid and they can purchase the product at the price offered. The lowest unique bid is the lowest bid in Pound and Pence for a specific product which is closest to 1 penny (£ 0.01) and which has not been bid by any other member. The bids are blind, in other words secret, until the end of the Bid Period. As soon as your purchase offer is accepted by BidandClick you will receive the ranking of your bid compared to other bids placed by the other members but not the values. Create your own strategy to purchase the product at the price you want!
Auction Air
- Auctionair is the UK's leading "sealed-bid" auction website. Have a hand-picked selection of luxury four and five-star holidays, weekends and adventure experiences. Also sell 'aspirational' hot, new technology items including TVs, cameras and watches. Have 95,000 registered users, who have carried out over 600,000 transactions. Auctionair started as a joint venture with British Airways in 2001 - hence the "air" in the name 'Auctionair'. Now run co-branded auctions for The Times, The Sun, Computer Active and PC Advisor magazine, amongst others.