Take Advantage of Mistakes Auction Sellers Make
Now one of the funnest and most profitable auctions you can find is misspelled items. You might be able to get a tidy profit of $50 or $70 dollars easily by searching for items that auction sellers make mistakes in when placing their ad. One man's loss is another man's gain and that’s the name of the game. I have done research on ebay for a while, and you can find it happens almost everyday. I have seen a branded camcorder being sold for X amount , less than 30% the average selling price of similar items. Imagine if you re-list it immediately and sell it for a 30% profit margin without paying for shipping!!
Let’s try it now and type camcoder or camcodar or anything you can think of and search through Ebay. I am sure you can get some results. You can also try Ebay UK or other auction houses, you might get something out of it.
So how can we profit from that? First of all misspelled items get less page views, less views means less bids, less bids means a low selling price. If there is a bid on one misspelled item, do not jump in and throw a bid, that is true even if the item is spelled correctly. Just watch the item patiently for few days and post a bid when it comes to an end. However if the starting bid is $1 and nobody has bid, you can put in the next bidding price to” lock “the auction. You are not allowed to edit or cancel your auction once there is a bid. Next click on the Watch this item on ebay, which is on the top right corner, check back occasionally to see how many people have bid the item and some auctions have a page counter to see how many buyer have checked the item so you have a rough gauge on how many bidders to expect.
Do research on the item you have watched, scan through the listings in ebay. One nice option you can find is the Add Note feature, it can be found in My Ebay and those items that you have just added are listed according to Time
Ending or depending on how you categorize it. Remember that you get more accurate results if you key in the item in the searched box and check the Completed Listings Only, reasons being that on going auctions prices might increase as time goes by so data you have collected is not up to date.
Look hard at the completed listings, make a note on how much buyers are willing to spend on this item. For example: branded sunglassess sold for between $140 to $160 so on averages the closing price at $150. Make a note to the misspelled item like” Sold for $150 “or “Highest bidder was $160 “, this is so important as it lets you check back before the item ends and see if the auction has reached the price limit you have set on it or if there is still room for profit.
Honestly speaking, there will be some people beside you who have the same thinking as you, looking for bargains in Ebay. So preferably wait until the auction is coming to an end and bid at the last hour, remember activity breeds activity. You do not want this to happen as the trick is to get a lesser bid if possible.
There are tools on the net which can help to do the job for you. Email me if you are interested, I will share with you what I have found or you can get access to www.monaky.com and try it out for free. It is that easy, just key in for example camera and the system will automatically search for the misspelled word on ebay.
Have fun !!
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About The Author
Mark Eng provides information for new auction seller, tools and tricks for online auction. Find wholesale information for ebay auctions. Free auction resources ebook at http://www.monaky.com.
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