www.ebay.com

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If you aren’t aware of what eBay is… you must not be human. Ever since ebay began in 1995, it has become a world-wide phenomenon, appearing in over 30 countries. As ebay became more popular, the site also became more regulated, making it safer and easier for users. However, there are many people still skeptical of buying and/or selling on the auction site. As an avid eBay-er, I’m definitely a fan of the site. I am going to discuss some pros and cons of using the online auction center, and maybe it will persude some future patrons! But first, a fun ebay fact: The first item sold on ebay was a broken laser pointer, posted by none other than eBay’s creator, Pierre Omidyar. He was amazed that someone bought it, knowing it was broken. He later discovered that the winning bidder was a collector of broken laser pointers, and thus sparking the thought that there was a larger audience for such a site than he expected.

PROS

• A quick, easy way to make some extra money!
• Anyone with internet access can view your items/you can view items from all over the world!
• You can do everything from the privacy of your own home
• Everything is tax free! *There are a few auctions that may specify to add sales tax in certain states, but in my own experiences with eBay, have never had to
• Your item may sell for way more than expected. You can post an item for $5, and then it may sell for $30, and you can also have a “Buy it Now” option, if you’re comfortable with a certain price that’s not too high and not too low.
• You can find the most random listing on eBay, whether you’re looking for something unique, out of production, or just plain weird… it’s probably on eBay.
• Not everything on eBay is used, many people have “eBay stores” and list things from their business. Almost all listings will specify whether something is new or used.
• If you post an item and it doesn’t sell, you can re-list it and eBay offers to reimburse your seller fees if it sells the second time.
• The site has a “Second Chance Offer,” which entails that if you report an unpaid item, you can offer the item to the next highest bidder at whatever their last bid was.
• It’s a great way to expand your local business! Whether it’s an art gallery, jewelry, clothes, etc.. eBay is great exposure. Plus, it’s a way to offer your items to consumer’s all over the world, instead of just in your local area.
• The site has restrictions, prohibiting the selling or pornagraphic items, so for the most part, eBay is a kid-friendly place as well. (haha, although some of you may see this as a con!)
• eBay is linked with PayPal, which is an online system of paying AND receiving payments that so straight into your band account or from your credit card. It’s the fastest, easiest way to send or receive a payment, and eBay walks you through it step-by-step!

CONS

• Competition is high, which is actually good and bad. Good in the way that if you’re looking for a certain item, you probably have an array of choices, but there may also be multiple others looking for the same item as well. Bad in the way that if you’re selling something, there may be 10+ other items identical to yours for cheaper, or better condition, and so on.
• There are fees associated with eBay, primarily with selling. There is a flat $0.35 fee to post an item on eBay (and this fee actually varies depending on which category you choose to list your item in), and then extra fee’s for different layouts, more photos, etc.. There is also a monthly invoice, because eBay actually takes a percentage of whatever your item sells for (this also varies, depending on what the item is. i.e. selling a car or real estate is going to have different fees than selling a book or sweater).
• Your item may not sell at all, or the item you’re bidding on may get too high for your price range. These are of course obvious cons of eBay, and are similar to any auction-style technique.
• You may pay for/sell your item, but not receive it/the payment. In this case, eBay does have a “buyer/seller protection” plan, in which you can report the user and eBay will determine whether they lose their eBay rights or not (and you’ll get your money back!)

 Honestly, I could go on and on about the pros and cons and keep elaborating on each… but.. I’m not going to! ha ha. Despite the cons of eBay, I will continute to use it’s services and support other people doing the same. It’s relatively simple, and I think that many users don’t attempt it because they think that it’s a complicated process to get started. I’ve been using eBay since I was 14 years old. Before I had my own credit card, I would just get money orders to pay for the items I bought. When I finally got a CC, I made a PayPal account and have been using it ever since. I sell and buy on eBay, and I think that it’s a great resource!Â

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 SOURCES:

http://moneymakerinfo.blogspot.com/2007/08/pros-and-cons-of-selling-on-ebay.html

http://en.wikipedia.org/wiki/EBay     (wikipedia rules!)
http:// my brain!