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Starting Your Online Auction Business

Overview

Online auctions are, undeniably, a firm fixture in our evolving consumer culture. Since the publication of Prima’s first auction "how-to, how-come" resource, Online Auctions at eBay, it is more apparent than ever that Internet auctioning is here to stay. A natural progression from Online Auctions at eBay, 2nd Edition and Auction This!, Starting Your Online Auction Business will unlock the door to even more intrinsic details of establishing a regular online auction routine that helps readers of all levels to ...
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Overview

Online auctions are, undeniably, a firm fixture in our evolving consumer culture. Since the publication of Prima’s first auction "how-to, how-come" resource, Online Auctions at eBay, it is more apparent than ever that Internet auctioning is here to stay. A natural progression from Online Auctions at eBay, 2nd Edition and Auction This!, Starting Your Online Auction Business will unlock the door to even more intrinsic details of establishing a regular online auction routine that helps readers of all levels to further their auctioning activities. This book will be of the greatest immediate use to the seasoned auction-goer. After a slight bit of review of the online auction industry, advanced users are guided to the greater opportunities and developments within the evolving online auction world. Though the principles are often complex, the delivery will appeal to the "every person" type reader.
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Editorial Reviews

Booknews
Prince (an editorial contributor to AuctionWatch.com) offers tips on becoming an Internet auctioneer. The first few chapters are intended to help readers decide if running an on-line auction is for them. The rest of the book is devoted to advice on setting it up and running it. He discusses predicting which items will bring the most bids, building inventories, handling shipping and payments, controlling costs, and keeping a good name. He also offers guidance concerning taxes, legal matters, and organizational strategy. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780761529217
  • Publisher: Premier Press
  • Publication date: 12/1/2000
  • Pages: 400
  • Product dimensions: 7.34 (w) x 9.04 (h) x 0.70 (d)

Table of Contents

Introduction xiii
Part I It's Your Business--How Would You Like It? 1
Chapter 1 At Last! You're In Charge 3
What Attracted You to Online Auctioning? 3
Who's In Charge Here? 6
What Are Your Qualifications? 8
What If You Don't Have What It Takes? 14
Chapter 2 Understanding the Cyber Business Place 17
How Did We Get Here? 17
Will it Last? 19
The Internet: Magic Elixir or Just Another Tool? 20
Location, Location, Location? 22
What Are They Buying? 24
Who's Who: Customers and Competitors 25
First Look: The Costs of Doing Business (and Who's Charging What?) 27
Chapter 3 Your Online Auction Apprenticeship 31
Lurk Before You Leap 31
Test Drive the Auction Vehicles 36
Where Can You Look for Answers? 39
Surely You Have a Business Plan 43
How Will You Know You're Ready? 44
Part II Getting Your Auction Business Started 47
Chapter 4 Your Auctions, Inc. 49
The Benefits of Being Bona Fide 49
Next Stop: The Business Zone 51
Getting Your Licenses and Permits 54
The Business Name Game 56
Understanding Business Structures 57
Developing Business Policies, Procedures, and Best Practices 59
Chapter 5 Setting Up Your Business Place 65
Home Sweet Office 65
What Equipment Will You Need? 73
Getting Connected 77
Organizing the Rest (and Keeping It That Way) 79
One Last Note about Organization 81
Chapter 6 Money Matters 83
The New World of Money 83
The Choices for a New Generation 85
Who's Who In Online Payments? 91
Wrapping It All Up 96
Chapter 7 Look Inward, Then Promote Outward 99
Being at Their Service 99
A Matter of Ethics 101
Get Up the Gumption: Start Small or Start Big, but Start Now! 102
Getting the Word Out 104
Freedom to Build Your Own Business 108
Part III Operating Your Auction Business 111
Chapter 8 Building, Maintaining, and Managing Your Inventory 113
Continuing Your Market Research 113
Where to Find It 116
Haggling with the Haggler 126
Special Considerations: Care and Storage of Your Inventory 127
Tracking Your Inventory 128
Reinvesting in Your Inventory 130
Chapter 9 It's All in the List: Listing Like a Pro 133
Auction Venues: Choosing the Best One 133
Auction Formats: Choosing the Best One 137
Auction Titles and Descriptions 141
The Power of Pictures 143
Timing Your Sales 147
Pricing Strategies That Work (and Some That Don't) 149
Adding the Right Amount of Style 155
Saving Time with Bulk Listers 158
Re-Listing with Ease 160
Chapter 10 Developing an End-Of-Auction Routine 163
Developing a Logical Flow 163
Your Prompt Action Prompts Your Customers to Act 166
EOA Content, Templates, and Automated Agents 168
Collecting Your Money 171
Establishing a Staging System 176
Chapter 11 Shipping Point: Postage, Handling, and Carriers 179
Ship Shop 179
Passing Along the Postage Costs 185
Not All Carriers Are Created Equal 186
Insure to Ensure 191
New Approaches to Old Services 193
Chapter 12 Sorting Out Problems and Keeping Your Customers Happy 197
Set the Mood 197
Getting to Know Them 199
Encouraging Repeat Business 202
Dealing with Difficult Customers 204
Common Scams That Afflict Auction Businesses 206
The Path to Peaceful Resolution 210
Look for the Silver Lining 212
Chapter 13 Business Logistics: Taxes, Expenses, and Good Record Keeping 213
Good Record-Keeping Practices 214
Reporting Auction Income 218
Business Expenses You Can Write Off 222
Soft Approach to Hard Facts 223
Monitoring Your Business Performance 224
Chapter 14 It's Time ... for Time Management 229
A Work Schedule That Works 229
Plan for Peaks and Valleys 231
Conquering the Learning Curve 233
Doing as Much as Possible in Your Slippers 233
Oh, and How About Some Time for Yourself? 234
Top Time-Wasters You Need to Avoid 236
Quittin' Time 238
Chapter 15 Pastime, Part Time, or All the Time? 239
The Value of Time versus Money 240
A Taxing Hobby 242
Part-Time Profits 244
Full-Time Fortune 246
Part IV Going Beyond Business As Usual 249
Chapter 16 Analyze, Diversify, and Conquer 251
How Well Do You Understand Your Customers? 251
A Web Site That Works for You 254
Online Auctions' Close Cousins 257
When the Auction Site Crashes 259
Using Auctions to Advertise Your Business 260
Chapter 17 Building and Maintaining a Stellar Online Reputation 265
Your Reputation Precedes You 265
Represent Your Merchandise, Represent Yourself 266
Item Grading 268
Getting the High Marks You Deserve 269
Getting the Most Out of Your Feedback Ratings 272
Chapter 18 More Key Auction Business Tips 275
Pace Yourself 275
Listen to Your Customers 276
Learn From Your Competitors 277
Learn to Trust Your Instincts 278
Etiquette and Netiquette: Use Both to Benefit Your Business 278
Five Worst Things You Can Do in an Auction Business 279
Ten Best Things You Can Do in an Auction Business 281
Part V Appendixes 285
Appendix A Additional Online Auction and e-Business Resources 287
Other Books 287
Web Sites 288
Appendix B Additional Business-Related Resources 291
Additional Reading 291
Official Organizations 293
Additional Small Business-Related Web Sites 293
Index 295
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