The Magic of Second Chance Offers on eBay

The Magic of Second Chance Offers on eBay Articles by Avril Harper™

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The Magic of Second Chance Offers on eBay by Avril Harper

Let me tell you how and why eBay sellers sometimes have distinct advantages over firms selling on the high street without also promoting their goods on eBay. Anyone working on the high street, or from a market stall or selling by mail order and direct mail, knows you have to maintain decent stock levels to display and sell to people coming through your door each day. You can’t just stock one item if you want your business to profit, you need to have several items of popular product lines in your storeroom, just in case someone buys two of the same products, or several people come asking for whatever today’s popular product might be. You don’t want to turn down paying customers by running out of stock.

But there’s another side to this problem because having all this stock means finding somewhere spacious to store it all, and it also means tying up huge chunks of capital on products that might not actually sell. So if you are selling on the high street, with a customer base of two or three thousand maximum, with all that stock in your back room, all your capital tied up and going nowhere fast, you really have to hope at least a few local people come in to buy and cover your costs for the day and hopefully leave money to spare for you to spend or invest. But if the weather’s bad or there’s something exciting on television, your shop might be empty all day and you end up making nothing.

Compare this to how business works on eBay where you can sell to people all over Britain, all over Europe, all over the world. And even though that means targeting millions of buyers compared to ordinary retailers for whom one hundred people makes a good day, on eBay customers rarely come calling and you don’t have to have stock ready to buy. You can buy one item to illustrate and describe on eBay and sell that item several times as long as further supplies are quickly available.

The trick is to obtain one sample of a product, from wholesalers or manufacturers, some will even give you them ‘sale or return’. This is your ‘test’ sample, and you should list as many different ‘test’ items as possible, which you are confident you can purchase in quantity when your auctions end in seven or ten days time. It’s best to use auction format to test items you have no experience of selling, both to determine how many people want your product and how much they are willing to pay.

You can add a ‘counter’ to your auction which reveals how many people have clicked to open your listing to learn more about your product. This is a great indicator of likely interest in your product and your most frequently viewed items will usually attract early bids and generous profit margins.

About a day before your auctions end you’ll spot signs of multiple bidders and potential ‘Second Chance’ buyers for some of your products. Second Chance Offers are where unsuccessful bidders are invited to buy an identical item at their highest bidding price. Some amazing profits are possible and you can easily find ten or more people accepting your Second Chance Offers.

Before you start counting the profits, bear in mind it’s not a question of win or lose when you are ‘testing’ products, all you want is an indication of products that will sell and continue to sell, and these will form the core of your product range.

Once you have tested products, and determine which are your most likely best seller, you must decide how many products to stock and what mark up is needed. If you want to make, say, £1000 profit each week, you might opt for one hundred listings with £10 profit margin with a few more thrown in to cover listing fees and incidental expenses. Or maybe you’ll go for ten items individually offering £100 pure profit

What better win-win situation can there possibly be?

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