POWER SELLER COLLEGE REVIEW GUIDE:
As the busy summer online sales season approaches, Power Seller College has authored a series of articles and guides which reveal selling advice for eBay sellers in order to help them take advantage of the upcoming summer season and see their businesses grow.
Power Seller College observes that summer time is traditionally one of the busiest seasons in online sales including eBay, as offered in its latest press conference. One of the best ways to sell items for a good price is through auctioning them on eBay, as opposed to straight sales (via a website for example). Doing so, Power Seller College believes that sellers on eBay will be able to attract a significantly higher price for the same item. This is compared to selling the same item on a standard eCommerce website.
In order to secure the best possible price on summer eBay auctions, Power Seller College has released the following POWER SELLER TIPS for eBay sellers:
Power Seller College TIP #1: List Items at .99
Power Seller College believes that all items should be listed at a starting price of .99, in order to attract as much initial attention as possible. This is known as “Letting the Market Decide”. There is little point in becoming frustrated over the starting price of an auction, when people’s perceptions of its value will vary anyway. As such, Power Seller College says that in most cases it is a waste of time for sellers to try and guess what an adequate price would be. The market will invariably take care of the price itself – buyers traditional bid for under-valued items in the hope of securing a bargain, hence the price will be pushed up in this way. Then the eBay system will continually reach out to bidders telling them “Not to let this item get away!” This prompts action and in some cases pushes the buyer to “WIN, WIN WIN”!
Power Seller College TIP #2: Offer Shipping Discounts- Using a Promotional Shipping Rule
Power Seller College advises you offer a shipping discount if a buyer spends a certain amount of money with you (like $25 or more). You could also utilize a condition shipping discount like: "Specify that the auction winner be charged not more than $5.00 for shipping if the buyer wins more than one auction item from you." Power Seller College cautions: Conditional shipping discount rules depend on the type of thing you are selling and the actual weight of such an item. Therefore this type of discount might not make sense for shipping large or heavy items. Power Seller College says that although these conditional shipping discount rules can work, they may be too complicated for the non-Power Seller. Power Seller College student’s like to address and offer shipping discounts on a per auction or per item basis, but this can require good communication with the auction winner. Power Seller College advises this be done through email as opposed to using the eBay messaging system. This may seem strange, but eBay has actually and unintentionally encouraged sellers to not communicate with buyers. This is because the eBay system looks at "no communication between buyers and sellers" and then assigns an automatic criteria of “5-star DSR” for such no communication). Power Seller College goes on to say that to maintain a Top-Rated Seller (TRS) status, use email for most communication, at least until eBay removes this unintended glitch. Some Power Seller College students are starting to quarrel over the value of that TOP RATED SELLER distinction, with all of the additional rules and requirements.
Power Seller College TIP #3: Set the Auction to Expire in the Early Hours
Power Seller College understands more than most the value end times in eBay auctions. Power Seller College said that by setting your auction to end in the wee hours of the morning (like 4:00 AM), sellers can attract bigger bids and therefore more profit. Although this flies in the face of some eBay pundits, Power Seller College stands by this tip. It is based on the premise that most sellers are trying to attract buyers in their same time zone (most eBay sellers do not truly encompass the “global” nature of eBay sales. That said, buyers are unlikely to be awake when the auction ends at 4:00 AM, and can therefore be forced to make a realistic bid (close to what they actually are willing to pay) much earlier than they would normally do, in order to ensure that win the auction. The other piece of this puzzle is the eBay Max Bid system, which allows a buyer to bid on an item and set the Max Bid (the maximum the buyer is willing to purchase the item for), then the eBay system automatically then bids for the buyer, up to the Max Bid price as set by that buyer. Power Seller College has data that seems to indicate that, in certain product genres, potential buys will us the Max Bid because they know that they wont be awake or in front of a computer when the auction ends. The other benefit of using an end time in the early morning is that it decreases the number of bid snipers. What is “Bid Sniping”? According to Power Seller College… Bid sniping is the process, in a standard eBay auction, of bidding a higher amount than the current highest bid at just before the end of the auction. This is sometimes as close as minutes or seconds before the auction’s end time. This then gives other potential buyers no time place a bid and win the auction.
I wrote this guide because I have used Power Seller College’s resources. They not only teach the principles of ecommerce, but provide access to the Power Seller College Product Sourcing Directory. This provides Power Seller College students access to more than 7,000 suppliers. These are wholesalers, drop shippers, market retailers, Chinese, liquidation, and exporters. The Power Seller College Product Sourcing Directory allows students to rate their individual experience with these suppliers and well as offer feedback regarding pricing, delivery, terms, and refund policies. As any successful ecommerce professional knows, your suppliers are your life-blood. Having good suppliers spells the difference between success and failure.
Power Seller College also provides access to an award winning Web Builder. This web builder allows Power Seller College students to create and expand their web based efforts beyond eBay. The two, working together, allows the student to grow.
Power Seller Collegtry leading market research programs such as Terapeak, Hammertap, Get4it, and many others. These tools allow Power Seller College students to accurately predict the salability and profitability of items before selling them. This keeps Power Seller College students from expending times and energy on items that either don’t sell or aren’t profitable.
POWER SELLER COLLEGE HAS A BBB RATING OF A+. THIS IS THE HIGHEST RATING A COMPANY CAN HAVE. THEY HAVE MAINTAINED THIS RATING FOR MORE THAN 10 YEARS.