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PRICES MAY HAVE CHANGED, BUT THIS IS THE GENERAL IDEA!!
So, you want to auction off your garage-sale leftovers online but you don't know how? Selling online is a good idea. One person's garbage is another's collectible resin figurine. It's pretty simple, too. All you need is Internet access, a digital camera or scanner and stuff to sell.
BUCKET LOADS OF CASH!!
Finding treasure at Mom's
Let's say you were cleaning out your mom's garage and found your old Incredible Hulk lunch box from third grade. You have no sentimental attachment to it -- other than a fond memory of whacking your best friend, Chris, on the head with it during a recess brawl.
You have two problems. Problem one: If you keep the lunch box for yourself and Chris sees it, he might run from your apartment, clutching his forehead in painful memory, never to return. Problem two: Your girlfriend wants you to take her to a movie, and you spent all your cash on dog bones for your basset hound. Problem solved: Sell the lunch box in an online auction, and use the profits to take your girlfriend to the flick.
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Here's how you're going to do it.
Case the joint
Pick an auction site. You will probably do best using a well-known site because the more people who see it, the better chance you have of someone bidding on it. Go through the site's policies for buyers and sellers, so you know what is expected of you and your bidders.
Seller fees
You choose eBay, which charges two set fees, insertion and final value, and an optional fee for setting a reserve price.
The reserve price is the lowest price the seller will accept for the item. The bid may start at $1, but if the reserve price is $20 and no one meets it, the auction will end without a winner. If your item sells, the reserve fee is refunded.
Reserve fees for eBay are between 50 cents and $2.
$1 to set between $.01 and $49.99
$2 to set between $50 and $199.99
1 percent reserve price (with a maximum of $100.00) to set at $200 and up
The insertion fee is based on the starting price. If you set a reserve price, it is set on that instead. Insertion fees on eBay are between 30 cents and $3.30.
25 cents for items up to $0.99
35 cents for $1 to $9.99
60 cents for $10 to $24.99
$1.20 for $25 to $49.99
$2.40 for $50 to $199.99
$3.60 for $200 to $499.00
$4.80 for $500 and up
The final value fee is 5.25 percent of the closing value, if the bids end no more than $25. If the bids end between $25 and $1,000, the fee is $1.31 plus 2.75 percent of the remaining closing value balance over $25 ($25.01 to $1,000).
Basically, you will pay fees that total about 5 percent of the winning bid plus some change.
Name your price
Search for the lunch box or an item similar on the auction site. See what other items in like condition are selling for, and scope out the key details in their descriptions. Also notice the starting bids, winning bids and reserve prices. Reserve prices are not stated, but if you watch the auction, you can see when the reserve is met.
Searching for metal Incredible Hulk lunch boxes, you notice that prices are much higher for ones made from 1978 to 1984 than for newer ones. The matching thermos adds value, too. Most have a starting bid of $10, what seems to be a reserve price of $20 and a top bid of $40.
If you weren't able to find similar items, you may have a rare gem. Take it to a shop that specializes in similar items, and have it appraised. Be wary of the shopkeeper who tells you the item isn't worth much and offers to take it off your hands.
You decide to set your starting price at $9.99 and your reserve price at $20. Based on those prices, your fees so far will be 30 cents for listing and 50 cents for reserve.
You'll need to figure out shipping and insurance costs as well. Checking at www.usps.gov you see the shipping price for priority mail will be $4.30 (including delivery confirmation for 45 cents), and insurance will be about $1.50, depending on the final bid.
Choose your identity
You shouldn't have to pay to register at the auction site. But you will have to give your credit card and bank account information. If you would rather not do this, eBay offers ID Verification for $5. This service uses Equifax to verify your identity. Equifax verifies who you are but does not run a credit check.
You will need to pick a nickname to identify yourself. Try to choose something practical or inviting. For example, PlaygroundPsycho would not be a good choice. HulkFan would be better.
How you want your money -- aside from large and often
Your choices are wire transfer, cash, check, money order, credit card or specific site payments -- like Amazon.com's Amazon Payments, and eBay's PayPal.
If you choose cash or wire transfer, no one will bid. These nontraceable payment methods offer no protection to the bidder and make you seem shady.
Checks may bounce and you can't force the rubber bidder to pay the fee your bank will charge you.
Money orders are fine for you, but the seller may resent paying a fee to get one.
You're not a business so you don't have access to a credit card machine.
You choose to accept PayPal because it protects you against bouncing checks and bidders who pay by credit card then falsely claim you never sent the item. The money will be deposited into your PayPal account, minus the fees for service which is 2.9 percent of the final price plus a $.30 transaction fee.
Labeling the lunch box
At this point you'll click on the option to sell an item. You're given a choice in formats. You're a beginner so you pick the most basic format, which will walk you through building your page.
Choose a descriptive category for the lunch box. It would fit in antiques, collectibles, pop culture, metal ware, toys, memorabilia and television. To be as specific as possible, you choose Collectible, sub-category pop-culture, sub-category lunch boxes, sub-category vintage metal. This way your item will appear in searches for all of the above.
At this point, you can choose whether you want to set a reserve price. You set one at $20.
Describe the box
You need to write a description. Be as detailed as possible, mentioning any flaws or scratches in both the lunch box and thermos. Do not leave anything out. If you falsely describe or intentionally leave flaws out, you are guilty of fraud -- which is a crime. You want the bidder to be happy when he gets the lunch box, and no one likes surprises of the negative sort. So be accurate. Put the box and thermos next to the computer and write:
This is a vintage Incredible Hulk metal lunch box with thermos. I got it in 1983. It is 7 inches by 8 inches by 3¾ inches. It was used from September 1983 until May 1984 and has some wear and tear. It has been in storage ever since. The front of the box shows the Hulk growling amid a pile of ruins. The reverse shows the Hulk breaking through a brick wall. The sides have pictures of various characters of the series. The handle is made of Hulk-green plastic. The rim on the lid of the lunch box has some rust. The center of the lid has a small dent as the result of a playground dispute. There are some small scratches on the reverse side. The inside of the box is rust-free. The outside of the thermos has various pictures of the Hulk. The inside of the thermos has a tint of residue from the tomato soup my mom put in it, even though she knows I hate tomatoes. Otherwise, the thermos is in good condition and has its original screw-on lid and green cup-cap.
I will accept credit card and check payments made through PayPal only. Payments must be received within 10 days of the end of the auction.
Shipping is $4.30 sent by USPS priority mail. Insurance depends on the cost at the end of the auction but will probably be about $1.50.
I will ship the item the day I receive payment, if payment is received before noon on a business day. Otherwise, I will ship the next business day.
I will accept returns within one week of receiving the item, but shipping costs will not be refunded.
Please e-mail me with any questions before you bid.
Taking shots at the box
Pictures are imperative. They will help you describe your item as accurately as possible and let the bidder see exactly what you have. You should take shots of the front, back, sides and inside of the lunch box. Insert all of these on your page. You can use a digital camera to take the pictures, or, if you have a scanner, you can use regular photos and scan them in. Pictures should be up close and focused -- fuzzy photos or photos taken at a distance appear deceptive.
Lay a ruler next to the lunch box for one of the pictures. This will allow bidders to accurately judge size.
Now you click on the option to preview your page. You check for any spelling errors or any mistakes in the description. You click on each of the photos to make sure they appear clearly. Then you ask your girlfriend to double check for errors. She tells you to add:
If you do not choose insurance, I am not responsible for lost or damaged items. Winning bidder pays for shipping. I will only ship to bidders within the United States.
Let the bidding begin
You are finished building your page. Now you just have to check your e-mail inbox for questions and watch your auction to see the bidding. You want to answer all e-mails as quickly as possible and remain polite and friendly, even if the bidders are not.
Day one: No one has bid. You are disappointed but hopeful -- someone will bid tomorrow.
Day two: No bids.
Day three: Someone named GreenMachine places the first bid for $9.99. No other activity occurs.
Day four: You receive an e-mail from Dbanner:
Dear Hulkfan,
Would you charge extra to ship to Alaska?
You respond:
Dear Dbanner,
No, I would not. Priority mail from the U.S. Postal Service charges the same rate for shipping within all 50 states.
Dbanner e-mails a reply asking for your name and phone number. Realizing that this bidder wants assurance that you are not the take-the-money-and-run sort of online auction seller, you politely send your contact information.
Dbanner bids $10.49. GreenMachine immediately counters with a bid of $10.99. They bid in 50-cent increments until the price reaches $20.49, with GreenMachine in the lead.
Day five: Nothing happens.
Day six: Nothing happens.
Day seven: You receive an e-mail from Shifty850.
HULKFAN -- THIS LOOKS LIKE A PIECE OF JUNK. HULK STINKS. I'LL TAKE IT OFF YOUR HANDS FOR $22. OK? SEND IT TO ME FIRST AND THEN I'LL PAY -- IF I DON'T LIKE IT, I'LL SEND IT BACK -- PROMISE. YOU'RE AN IDIOT IF YOU DON'T TAKE THIS DEAL.
You respond:
Dear Shifty850,
Thank you for your offer, but the deal remains as stated in the description.
Shifty850 bids $20.99. GreenMachine counters with $21.49. Nothing more happens.
Day eight:
This is the last day of the bidding. While you met your reserve, you are disappointed bidding never reached $40. You frequently check the auction and your e-mail but nothing has changed.
Then, at 4:45 pm, Ferrignoloo bids $21.99. Beebixby immediately bids $22.49. Greenmachine counters with $22.99. Colvin82 counters with $23.49. Retaliating bids continue until 4:57 pm, ending at $39.99 with Beebixby on top. You get an e-mail from Ferrignoloo:
Will you throw in a peanut butter and jelly sandwich?
You respond:
Sorry, I'm out of peanut butter. My Basset Hound ate all of it.
Ferrignoloo bids again anyway. Top bid is now $40.49 with one minute left. Colvin82 pounces, then Greenmachine and in the last 10 seconds, Dbanner reappears with a bid of $41.99 and the auction ends.
You immediately e-mail Dbanner:
Congratulations! You are the winning bidder of a vintage Incredible Hulk metal lunch box with a matching thermos. Please pay within 10 days using Paypal. Please e-mail your name and shipping address to me. Including insurance, the shipping cost is $5.60. Added to the final auction cost of $41.99, the total payment should be $47.59.
If you do not want to pay for insurance, the shipping cost is $4.30, which would make the total $46.29. However, as I stated in the item description, I am not responsible for loss or damage if you do not pay for insurance.
Sincerely,
HulkFan
You print a copy of this e-mail for your records.
The next Tuesday morning the payment, which includes insurance, is posted to your account. In your inbox is an e-mail from Dbanner including his name and mailing address. You print a copy of the e-mail for your records.
During lunch, you take the lunch box and thermos, which you have carefully packed in Bubble Wrap and sealed in a USPS Priority box, to the post office. You pay for postage, delivery confirmation and insurance and save the receipts and tracking numbers.
Back at the office, you e-mail Dbanner:
Dear Dbanner,
I have just mailed the Incredible Hulk lunch box and thermos (item No. 19781982) to your P.O. Box in Bethel, Ala. The post office said you would receive it within three days, weather permitting. I have pasted the tracking number below. Please let me know when you receive it and if you are happy with it.
Sincerely,
Hulkfan
On Monday you receive an e-mail from Dbanner:
Got it! Love it! I posted positive feedback for you.
Using the feedback form e-mailed to you by eBay, you see that Dbanner left feedback saying:
Great seller! Item was exactly as described and well packed. Communication was great!
You leave feedback for Dbanner:
Great bidder! Paid promptly and was very polite.
Off to the movies
You sit down with a calculator to figure out your final profit after fees and postage. Shipping was $4.30 (which includes delivery confirmation for 45 cents), plus insurance ($1.30); PayPal transaction fee of 30 cents plus 2.9 percent ($1.21); plus 50 cents listing fee; plus final value fees of $1.31 plus 2.75 percent of $41.99 minus $25 (47 cents) totaling $1.78. The reserve price was met, so the reserve fee was refunded. Total cost adds up to $8.18. Your total profit was $39.41.
You have enough money to take your girlfriend to the movie ($13), buy popcorn to share ($3.50) and Cokes for both of you ($7) and still have change to get a bone for your dog ($5) on the way home. With the remaining $10.91 you can buy a few beers for Chris and beg his forgiveness for the lunch box incident.
So, you want to auction off your garage-sale leftovers online but you don't know how? Selling online is a good idea. One person's garbage is another's collectible resin figurine. It's pretty simple, too. All you need is Internet access, a digital camera or scanner and stuff to sell.
BUCKET LOADS OF CASH!!
Finding treasure at Mom's
Let's say you were cleaning out your mom's garage and found your old Incredible Hulk lunch box from third grade. You have no sentimental attachment to it -- other than a fond memory of whacking your best friend, Chris, on the head with it during a recess brawl.
You have two problems. Problem one: If you keep the lunch box for yourself and Chris sees it, he might run from your apartment, clutching his forehead in painful memory, never to return. Problem two: Your girlfriend wants you to take her to a movie, and you spent all your cash on dog bones for your basset hound. Problem solved: Sell the lunch box in an online auction, and use the profits to take your girlfriend to the flick.
- advertisement -
Here's how you're going to do it.
Case the joint
Pick an auction site. You will probably do best using a well-known site because the more people who see it, the better chance you have of someone bidding on it. Go through the site's policies for buyers and sellers, so you know what is expected of you and your bidders.
Seller fees
You choose eBay, which charges two set fees, insertion and final value, and an optional fee for setting a reserve price.
The reserve price is the lowest price the seller will accept for the item. The bid may start at $1, but if the reserve price is $20 and no one meets it, the auction will end without a winner. If your item sells, the reserve fee is refunded.
Reserve fees for eBay are between 50 cents and $2.
$1 to set between $.01 and $49.99
$2 to set between $50 and $199.99
1 percent reserve price (with a maximum of $100.00) to set at $200 and up
The insertion fee is based on the starting price. If you set a reserve price, it is set on that instead. Insertion fees on eBay are between 30 cents and $3.30.
25 cents for items up to $0.99
35 cents for $1 to $9.99
60 cents for $10 to $24.99
$1.20 for $25 to $49.99
$2.40 for $50 to $199.99
$3.60 for $200 to $499.00
$4.80 for $500 and up
The final value fee is 5.25 percent of the closing value, if the bids end no more than $25. If the bids end between $25 and $1,000, the fee is $1.31 plus 2.75 percent of the remaining closing value balance over $25 ($25.01 to $1,000).
Basically, you will pay fees that total about 5 percent of the winning bid plus some change.
Name your price
Search for the lunch box or an item similar on the auction site. See what other items in like condition are selling for, and scope out the key details in their descriptions. Also notice the starting bids, winning bids and reserve prices. Reserve prices are not stated, but if you watch the auction, you can see when the reserve is met.
Searching for metal Incredible Hulk lunch boxes, you notice that prices are much higher for ones made from 1978 to 1984 than for newer ones. The matching thermos adds value, too. Most have a starting bid of $10, what seems to be a reserve price of $20 and a top bid of $40.
If you weren't able to find similar items, you may have a rare gem. Take it to a shop that specializes in similar items, and have it appraised. Be wary of the shopkeeper who tells you the item isn't worth much and offers to take it off your hands.
You decide to set your starting price at $9.99 and your reserve price at $20. Based on those prices, your fees so far will be 30 cents for listing and 50 cents for reserve.
You'll need to figure out shipping and insurance costs as well. Checking at www.usps.gov you see the shipping price for priority mail will be $4.30 (including delivery confirmation for 45 cents), and insurance will be about $1.50, depending on the final bid.
Choose your identity
You shouldn't have to pay to register at the auction site. But you will have to give your credit card and bank account information. If you would rather not do this, eBay offers ID Verification for $5. This service uses Equifax to verify your identity. Equifax verifies who you are but does not run a credit check.
You will need to pick a nickname to identify yourself. Try to choose something practical or inviting. For example, PlaygroundPsycho would not be a good choice. HulkFan would be better.
How you want your money -- aside from large and often
Your choices are wire transfer, cash, check, money order, credit card or specific site payments -- like Amazon.com's Amazon Payments, and eBay's PayPal.
If you choose cash or wire transfer, no one will bid. These nontraceable payment methods offer no protection to the bidder and make you seem shady.
Checks may bounce and you can't force the rubber bidder to pay the fee your bank will charge you.
Money orders are fine for you, but the seller may resent paying a fee to get one.
You're not a business so you don't have access to a credit card machine.
You choose to accept PayPal because it protects you against bouncing checks and bidders who pay by credit card then falsely claim you never sent the item. The money will be deposited into your PayPal account, minus the fees for service which is 2.9 percent of the final price plus a $.30 transaction fee.
Labeling the lunch box
At this point you'll click on the option to sell an item. You're given a choice in formats. You're a beginner so you pick the most basic format, which will walk you through building your page.
Choose a descriptive category for the lunch box. It would fit in antiques, collectibles, pop culture, metal ware, toys, memorabilia and television. To be as specific as possible, you choose Collectible, sub-category pop-culture, sub-category lunch boxes, sub-category vintage metal. This way your item will appear in searches for all of the above.
At this point, you can choose whether you want to set a reserve price. You set one at $20.
Describe the box
You need to write a description. Be as detailed as possible, mentioning any flaws or scratches in both the lunch box and thermos. Do not leave anything out. If you falsely describe or intentionally leave flaws out, you are guilty of fraud -- which is a crime. You want the bidder to be happy when he gets the lunch box, and no one likes surprises of the negative sort. So be accurate. Put the box and thermos next to the computer and write:
This is a vintage Incredible Hulk metal lunch box with thermos. I got it in 1983. It is 7 inches by 8 inches by 3¾ inches. It was used from September 1983 until May 1984 and has some wear and tear. It has been in storage ever since. The front of the box shows the Hulk growling amid a pile of ruins. The reverse shows the Hulk breaking through a brick wall. The sides have pictures of various characters of the series. The handle is made of Hulk-green plastic. The rim on the lid of the lunch box has some rust. The center of the lid has a small dent as the result of a playground dispute. There are some small scratches on the reverse side. The inside of the box is rust-free. The outside of the thermos has various pictures of the Hulk. The inside of the thermos has a tint of residue from the tomato soup my mom put in it, even though she knows I hate tomatoes. Otherwise, the thermos is in good condition and has its original screw-on lid and green cup-cap.
I will accept credit card and check payments made through PayPal only. Payments must be received within 10 days of the end of the auction.
Shipping is $4.30 sent by USPS priority mail. Insurance depends on the cost at the end of the auction but will probably be about $1.50.
I will ship the item the day I receive payment, if payment is received before noon on a business day. Otherwise, I will ship the next business day.
I will accept returns within one week of receiving the item, but shipping costs will not be refunded.
Please e-mail me with any questions before you bid.
Taking shots at the box
Pictures are imperative. They will help you describe your item as accurately as possible and let the bidder see exactly what you have. You should take shots of the front, back, sides and inside of the lunch box. Insert all of these on your page. You can use a digital camera to take the pictures, or, if you have a scanner, you can use regular photos and scan them in. Pictures should be up close and focused -- fuzzy photos or photos taken at a distance appear deceptive.
Lay a ruler next to the lunch box for one of the pictures. This will allow bidders to accurately judge size.
Now you click on the option to preview your page. You check for any spelling errors or any mistakes in the description. You click on each of the photos to make sure they appear clearly. Then you ask your girlfriend to double check for errors. She tells you to add:
If you do not choose insurance, I am not responsible for lost or damaged items. Winning bidder pays for shipping. I will only ship to bidders within the United States.
Let the bidding begin
You are finished building your page. Now you just have to check your e-mail inbox for questions and watch your auction to see the bidding. You want to answer all e-mails as quickly as possible and remain polite and friendly, even if the bidders are not.
Day one: No one has bid. You are disappointed but hopeful -- someone will bid tomorrow.
Day two: No bids.
Day three: Someone named GreenMachine places the first bid for $9.99. No other activity occurs.
Day four: You receive an e-mail from Dbanner:
Dear Hulkfan,
Would you charge extra to ship to Alaska?
You respond:
Dear Dbanner,
No, I would not. Priority mail from the U.S. Postal Service charges the same rate for shipping within all 50 states.
Dbanner e-mails a reply asking for your name and phone number. Realizing that this bidder wants assurance that you are not the take-the-money-and-run sort of online auction seller, you politely send your contact information.
Dbanner bids $10.49. GreenMachine immediately counters with a bid of $10.99. They bid in 50-cent increments until the price reaches $20.49, with GreenMachine in the lead.
Day five: Nothing happens.
Day six: Nothing happens.
Day seven: You receive an e-mail from Shifty850.
HULKFAN -- THIS LOOKS LIKE A PIECE OF JUNK. HULK STINKS. I'LL TAKE IT OFF YOUR HANDS FOR $22. OK? SEND IT TO ME FIRST AND THEN I'LL PAY -- IF I DON'T LIKE IT, I'LL SEND IT BACK -- PROMISE. YOU'RE AN IDIOT IF YOU DON'T TAKE THIS DEAL.
You respond:
Dear Shifty850,
Thank you for your offer, but the deal remains as stated in the description.
Shifty850 bids $20.99. GreenMachine counters with $21.49. Nothing more happens.
Day eight:
This is the last day of the bidding. While you met your reserve, you are disappointed bidding never reached $40. You frequently check the auction and your e-mail but nothing has changed.
Then, at 4:45 pm, Ferrignoloo bids $21.99. Beebixby immediately bids $22.49. Greenmachine counters with $22.99. Colvin82 counters with $23.49. Retaliating bids continue until 4:57 pm, ending at $39.99 with Beebixby on top. You get an e-mail from Ferrignoloo:
Will you throw in a peanut butter and jelly sandwich?
You respond:
Sorry, I'm out of peanut butter. My Basset Hound ate all of it.
Ferrignoloo bids again anyway. Top bid is now $40.49 with one minute left. Colvin82 pounces, then Greenmachine and in the last 10 seconds, Dbanner reappears with a bid of $41.99 and the auction ends.
You immediately e-mail Dbanner:
Congratulations! You are the winning bidder of a vintage Incredible Hulk metal lunch box with a matching thermos. Please pay within 10 days using Paypal. Please e-mail your name and shipping address to me. Including insurance, the shipping cost is $5.60. Added to the final auction cost of $41.99, the total payment should be $47.59.
If you do not want to pay for insurance, the shipping cost is $4.30, which would make the total $46.29. However, as I stated in the item description, I am not responsible for loss or damage if you do not pay for insurance.
Sincerely,
HulkFan
You print a copy of this e-mail for your records.
The next Tuesday morning the payment, which includes insurance, is posted to your account. In your inbox is an e-mail from Dbanner including his name and mailing address. You print a copy of the e-mail for your records.
During lunch, you take the lunch box and thermos, which you have carefully packed in Bubble Wrap and sealed in a USPS Priority box, to the post office. You pay for postage, delivery confirmation and insurance and save the receipts and tracking numbers.
Back at the office, you e-mail Dbanner:
Dear Dbanner,
I have just mailed the Incredible Hulk lunch box and thermos (item No. 19781982) to your P.O. Box in Bethel, Ala. The post office said you would receive it within three days, weather permitting. I have pasted the tracking number below. Please let me know when you receive it and if you are happy with it.
Sincerely,
Hulkfan
On Monday you receive an e-mail from Dbanner:
Got it! Love it! I posted positive feedback for you.
Using the feedback form e-mailed to you by eBay, you see that Dbanner left feedback saying:
Great seller! Item was exactly as described and well packed. Communication was great!
You leave feedback for Dbanner:
Great bidder! Paid promptly and was very polite.
Off to the movies
You sit down with a calculator to figure out your final profit after fees and postage. Shipping was $4.30 (which includes delivery confirmation for 45 cents), plus insurance ($1.30); PayPal transaction fee of 30 cents plus 2.9 percent ($1.21); plus 50 cents listing fee; plus final value fees of $1.31 plus 2.75 percent of $41.99 minus $25 (47 cents) totaling $1.78. The reserve price was met, so the reserve fee was refunded. Total cost adds up to $8.18. Your total profit was $39.41.
You have enough money to take your girlfriend to the movie ($13), buy popcorn to share ($3.50) and Cokes for both of you ($7) and still have change to get a bone for your dog ($5) on the way home. With the remaining $10.91 you can buy a few beers for Chris and beg his forgiveness for the lunch box incident.
Guide created: 03/27/07 (updated 03/11/08)
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