I love eBay! I call it the world’s largest flea market. Recently, I’ve discovered the fun of "Best Offers." I buy just as much as I sell on eBay, and I opened an eBay store recently, too. I love this new feature as a store owner, and as a buyer as well. Here’s some "insider information" to keep in mind when it comes to making a Best Offer to a store owner... well, THIS store owner, anyway.

When I list something for sale, I have two options: I can put it up for auction, or I can put it in my store inventory. Both have their pros and cons. Auction items have more exposure online, but store inventory is a far more economical choice when it comes to paying my bills every month.

Bidding on an auction is fun and exciting, especially during the last few minutes. This is especially true when there’s high interest in an item, and the price has been steadily rising over the course of the week. Things can move very quickly, and there’s high turnover for popular auction items. Have you ever noticed the same item listed at “Buy it Now” in stores for the same price you would pay at auction? So if something is so popular, why don’t all store owners list everything at auction?

There's a few reasons, and one important consideration are the fees. They can add up pretty quickly, and sometimes I just don't know if there will be enough interest so that something will sell at a good auction price. Other times, there's so many of the same type of item listed, I am afraid I'll get lost in a crowded category. Now that I have an eBay Store, when I list something in my inventory, the fees are low enough so that I can list as many as 26 of the same kind of item for the same price that I do when I list one item at auction. Store inventory at the "Buy it Now" price means that when I find a large collection of the same kinds of items, now I can put ALL of it in my store and at an economical price.

This allows my clients to have a much greater selection - and with the Make an Offer feature, no one's "stuck" at that Buy it Now price. If I'm approached by an interested buyer, we can negotiate. It's fun too. Sometimes, a buyer will submit an offer that’s just too low. I have the chance to say thanks, but no thanks and submit a counter-offer. A buyer can accept it; turn it down; or try one more time to wiggle the price just a little lower.

Sometimes I think that maybe I CAN do better at bidding on an auction for the same item at the "Buy it Now" store price...unless there’s that magic little phrase: “Make an Offer.” I've made some great purchases this way. It's quick, convenient, and I enjoy it just as much as a buyer as I do a seller. With the right attitude and a spirit of adventure, it can be just as much fun to negotiate as it is to compete on an auction.

I ALWAYS use this feature in my own store now! So how low can you go? Well, I’m not telling how much I am willing to accept on a Best Offer ;) A lot depends on what the item is and how much I paid for it. Other times, I just want to turn inventory over as quickly as possible.

Recently, I listed something that I thought was very expensive in my store inventory. A collector submitted an offer within hours that it posted. This person didn't ask for much of a discount, either. Uh oh... Every antique dealer has this experience at least once: When someone doesn’t hesitate for a second on the price - you get this sinking feeling that you just gave a very experienced collector a very nice bargain. Who knew? The collector maybe, but not me.

So, I asked the buyer to tell me about the piece, why it was valuable, and what to look for in the future. This is a great tip that I’ve written about in my other guides. Collectors are passionate and love to share their knowledge. The best way to learn is to listen when someone knows what they’re talking about. In this case, I learned a lot, and it was an invaluable lesson at a price that I could afford. As I always say, sometimes, knowledge is just as valuable...for the next time. :) In the end, we both feel that we made a good deal.

I have noticed an increase in buyers using this feature lately in my own store and I’ve been using it as a buyer more often, myself. This is a fresh and exciting new feature on eBay, the world’s largest flea market.

So what are you waiting for??? Go ahead - make me an offer!

That’s the inside scoop from Twinkie’s Toolbox.