Since eBay went public in 1998 it has revolutionised how we buy and sell products by introducing the idea of online auction websites to the world of e-commerce. Now millions of people across the globe bid on rare and common goods over a range of internet auction sites but what are the best ways of maximising your profitability? Below are the top 5 points to consider when selling products over online auction websites.

1. Imagery. The old adage ‘a picture says a thousand words’ still rings true, and even more so with online auction websites. Including an image of the product you are trying to sell not only makes it more real in the eyes of the user but also gives them something to get excited about. For higher priced goods include more than one clear photograph taken with a decent digital camera.

2. The title you use for your item should be as descriptive as possible. So rather than simply saying ‘Scanner’ state ‘Epson Perfection 4490 Scanner with 4800 * 9600 dpi resolution and 48 bit colour.’ The more information you include the more impressive it sounds and the more specific you’re being so potential buyers can check the spec. With most online auction websites you are typically limited to 80 characters per title so use them wisely.

3. One of the most important points in online auction solutions is of course your items start price. Determine the lowest amount of money you will accept for your respective product and start the bidding at that number. It is good practise to avoid using the reserve auctions feature as most experienced buyers ignore them.

4. Customer correspondence. This point is a few tips in one. If you are contacted by potential buyers then respond to their query as soon as possible. Once the auction is over ensure you correspond with your buyer, open up a dialogue with them until everything about the transaction is complete. And even afterwards keep the email of the customer, compile a database and use it to inform old customers about similar upcoming goods you will be selling.

5. Choosing your listing time carefully. As online auction solutions go this is one of the most imperative points. Online auction websites often have significantly more traffic over the weekends, and arguably Sunday afternoons is the very best time. However this is debateable, many believe Friday or Saturday evening is the optimum time to close their auctions. This sort of decision is a personal judgement call and with some experience different sellers experiment with what works for them.