Lately, the news media has started to highlight the idea of selling your collected “stuff” over the Internet as a way for seniors to realize some additional revenue. This variation on the traditional garage/yard sale does have some definite positive aspects. Obviously, it also has some negatives, which you should be aware of before posting your item.
The very first thing you need for Internet Retailing is access to a digital camera. One picture truly does tell a thousand words. Without a photo, nothing will sell near its value.
The three most popular sites for selling items on the Internet are -
- Craigslist.org, which is targeted at given localities and is entirely free for 99% of its postings. This is the site to use if you are selling something that you don’t want to, or can’t, ship. However, a craigslist.org posting can specify that the item will be shipped and include a charge for that service. Craigslist.org transactions are typically cash deals. Your posted price is the sale price.
- Ebay.com, which is targeted by country and charges a fee for every posting. Ebay has many more categories for your items, but you are charged for each posting in each category. Although it is not usual, an eBay listing can specify that the item must be picked up by the buyer. Ebay.com transactions are generally credit card deals, and you normally are using their credit card service, PayPal.com, which entails a fee of about 3% of the sale price. You also must define multiple prices for the item, i.e. an initial price at which the item will be first listed, and a minimum price, which is the least amount at which you will sell the item.
- Amazon.com, which permits you to open your own store. It can establish an Internet retail “presence” for your ongoing transactions.
Positives -
- Using the Internet, you are able to reach a much wider audience than any garage sale will ever deliver.
- You have the facility to change your listing at any time while it is published.
- Anonymity is maintained throughout the selling process. Once a sale is agreed to, however, the buyer and seller typically identify themselves.
- These services involve no (craigslist.org) or small (eBay.com) costs.
Negatives -
- With many Internet sales venues, it will be necessary to pack and ship your items. The cost of this activity might be greater than you suspect. To be safe, you have to assemble your packing materials, weigh your items, and determine your actual shipping costs before you post the sale.
- You need to do some research on prices to establish a good, fair price. Pretend you are trying to buy the item and search for any similar items for sale. This can be difficult for unusual items, but it is required if you are going to be successful.
- If your items are used, remember that “beauty is in the eye of the beholder”. If you want your item to sell, you have to identify a price that will be attractive to a buyer. If this is less than the value of the item to you, don’t sell it!
Internet retailing is something of an adventure. In a real, but limited way, you are opening your own store. If you love it, you may become an amazon.com e-tailer. If not, you will at least clean out a corner of the attic.
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