At one time we had only three options to sell a single item on eBay.  We could:

      -  Set up an auction for our item, add a picture and upload it to eBay for a few days to a week or longer in the hope a buyer finds it, wants it and will bid on it (hopefully many buyers). 

      -  Make (hopefully) an educated guess as to the value of the item and list it for a period of time with a Buy It Now (BIN) price and hope it sold (assume more risk).

      - Upload an auction, but add an extra “Buy It Now” price higher than the auction start price.  This option allowed buyers a choice of waiting out the auction or paying more and getting the item for sure -- right now.  Of course the “Buy it Now” price option disappears with the first bid on the auction. 

Today, there is a fourth way that allows potential bidders to Submit an Offer on your item.  And, if the offer is too low you have the opportunity to simply turn it down (not the best option) or submit a counter offer (always).

This is particularly helpful in moving more merchandise --especially if you have some wiggle room in the asking price on the items you're selling. 

I use a process where I begin by auctioning almost all my items first.  Those items that remain unsold are moved into my store where I add the “Submit an Offer” option to each item.  This keeps your merchandise available continually and gives your auction customers additional merchandise to buy to make use of my “Combined Shipping” offer.  The net result for you is moving more items faster, while maintaining your ads to as stock in your store and to run as an auction again later if you so choose.

I believe that it really helps sales when I have auctions going every day.  The auctions bring people to my sales aand once there,  customers find my store items also.  So, this process is also wonderful for those nights when I don’t have time write new auctions.  I will simply go through the store and pick out items to auction again and relist them with two mouse clicks.  This is particularly helpful with seasonal items that tend to sell better in the seasons in which they will be used.  

Additionally, the store listing, with the Submit An Offer, helps mitigate risk and costs in other ways to include;

Auctions are more costly and risky. The eBay marketplace can be fickle.  From one week to the next, an item in constant demand can go unsold here and there.  On one day an item may fetch $100  and two days later the identical item gets only $20. Auctions are highly dependent on strong competition for the item at the time the auction closes.  If there are very few bidders, your item may be sniped at the last minute for the asking price.

Buyers who know the value of the item they seek are usually happy to buy it for a reasonable "Buy It Now" price rather than wait for the end of auctions because of convenience.  However, with the “Submit an Offer” option they have the opportunity to offer a seller what they believe it is worth also.  If the buyers offer is within reason, I can sell it for profit there and then.  If I think the offer is low, I can counter offer somewhere in the middle for a price that meets my needs while still affording my customer a break.  This moves more merchandise (also called “turn over”),  And turn over is a good thing.   

Here is an example

You buy an antique sewing machine for $55.00 at a local antique shop.  As a dealer in antiques, you know the machine is worth $150 to a collector and you researech it and find this is true.  You put it on eBay for auction with a starting price of $149.99 (with a reserve of $125).  If you get a bid or bids with that listing -- great – the item will be sold at the end of the auction cycle.  If you have many bidders, you will probably make a tidy profit.

If it doesn’t sell now, you can move it to your store, offering it at a set price of $159.99 as a “Buy It Now.”  Or you can click the box below the set price of $159.99 to indicate you will allow buyers to submit best offers. 

So, lets say that a Buyer submits an offer of $99.00 right away.  Although this is a profit for you, research indicates the machine can fetch more with patience.  So, you decide to wait for the better price.  You would then use the system to either decline the offer or make a counter offer to the prospective buyer. 

If you decide to decline the offer, be sure to thank the bidder for their offer first.  I think it is important to also offer an appropriate explanation for your declination.  For instance, “Many thanks for your offer.  The machine has only been listed one day and current antique references show the value of a similar make and model machine as $150.00. Therefore, I must decline your kind offer."  Please note the positive and encouraging language -- you want to keep the customer even if you will not sell the machine at a low price.  

At this point, you also have the option of making a “counter-offer” back to the prospective Buyer.  Here you click the link labeled “Make a Counter Offer.”  Indicate the amount you will accept (in this case we will say $139.99 because it seems less than $140).  I also think it prudent to offer an explanation here too.  Good communication is the hallmark for building good customer relations and growing a returning customer base.  In this case, I would explain my counter offer with, “Many thanks for your offer but the machine is only recently listed. Current antique references show the value of a similar make and model as $150.00, therefore I counter your offer with an excellent price of $139.99 and hope you will find it an acceptable comprimise."  
Since the machine is now in your store, it is still available to any collector looking for it for extended periods of time.  You may, at any time, move the machine back out to auction again.  Re-listing it periodically as an auction will get it sold when the market is there for it.

If, while in your store your item prove popular and receives 3 best offers, the system allows you can pick the highest best offer and sell to that person.

This process is a great opporutnity for greater merchandise turn over and a real time saver when it comes to writing and managing listings.  Store listings are less expensive and are charged by the month so it is a great fallback opportunity to help you in your business.  It is incredibly easy to move items back and forth between the store and auction listing too.

I hope this guide has been helpful in taking you to the next level of eBay opportunity.  If you have picked up a nugget or two, please scroll down and vote “yes” – I surely would appreciate it. 

To see this guide in action, please visit my store “The Write Place” and my auctions “Pepper120851.”  You never know, you might see something you like in addition to seeing how it works! THANKS for stopping by!