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If your business is not using eBay and other Internet auctions, you could
be missing out. Here are just a few ways of generating additional income,
profits and cashflow from online auctions.
1. Convert Excess Assets to Cash
Sell personal or business items that you no longer use. For example, are
there slow moving inventory items in your store? A major camera store chain
sells their slow movers, quite successfully, through eBay.
2. Buy and Sell Anything
Sometimes people put things out in the garbage because they don`t need them
anymore and don`t know anyone who could use them. You can successfully sell
some of these items by Internet auction.
As well, if you pick up bargains from garage sales, flea markets, importers,
wholesalers, closeout dealers or other sources, these items can also be sold
through online auctions.
3. Drop Shipping
There are suppliers who will ship one item at a time for you. You don`t have
to stock any inventory. You simply pay your dropship supplier out of the
money you receive from your auction sale. They will ship the product directly
to your customer.
Do you have expertise in a specialized area of interest to people? Then,
you could publish your own information product.
A very popular format for self-publishing information products is the electronic
book (or e-book). E-book compilers, some of which are free, are readily available
on the Internet. When people buy your e-book, they can download it from your
website or receive it by e-mail.
You could sell such self-published information products on eBay and other
Internet auction sites. Incidentally, online auctions are an inexpensive
method of testing the market for your information (or other) products.
You may not want to produce your own information products presently. Or,
perhaps, you may already have an information product, but would like to
supplement your income with additional, related product offerings. This is
where reprint and resale rights come in.
You can buy the rights to reprint or resell excellent information products
created by other people. Some of these rights are inexpensive.
In addition to selling these products from your own website, you can use
Internet auctions to create extra sales. Another advantage of online auctions
is that they can create additional traffic for your website.
Do you design logos or websites? Do you sell consulting or other services?
These, also, can be successfully sold through eBay and other auction sites.
7. Run an eBay Consignment Shop
There are still people who don`t have a computer or who don`t use eBay. You
could sell on a consignment basis for them, taking a commission on the successful
sale. You would need to charge for advertising expenses incurred, such as
eBay listing and selling fees.
8. Promote Affiliate Programs through Auctions
Some affiliate programs have brandable e-books that contain your affiliate
link. When people order from the e-book that they bought from your online
auction, you get credit for the sale. As well, some of those purchasers may
sign up as affiliates, earning you additional commissions.
Some of these e-books have valuable information that is worth the nominal
value you would sell it for on eBay. In other cases, such an e-book is readily
available for free. In this latter case, you might consider selling another
related product and offer the e-book as a free bonus.
During the gold rush days, it is said that those who sold picks and shovels
were more likely to make money than those panning for gold. Similarly, since
there is such a big market for online auctions, you can make money supplying
eBayers with information and auction tools to help them start and grow their
own online auction business.
10. Internet Auction Consulting
As you gain experience and expertise in online auctions, you might consider
charging for your knowledge.
Consulting services, seminars, information products and other ways of packaging
your knowledge can earn you additional income streams.
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