10 Hottest Homebased Businesses For 2000

Going once, going twice, sold to the bidder in.not the third row, but halfway across the globe. Online auctions have redefined the concept of the garage sale for tchotchke hawkers everywhere, and they've also redefined the ease of entering the e-commerce arena. Forrest Research calculates the online auction market will grow to more than $19 billion by 2003, and with the ease of online auction site use, it's no wonder sales are skyrocketing.

Think of the pains of traditional brick-and-mortar sales: paying rent, hiring salespeople, merchandising, maintenance, advertising. Now consider online auctions: Scan a photo of your item, write enticing copy, and wait for the customers to flock to your virtual doorstep via eBay, Yahoo! Auctions, Amazon.com Auctions or one of the myriad other online auction services. Of course there's a bit more to it (there always is), but not much: Answer e-mail questions, notify auction winners, arrange payments and ship products. It's time consuming-all businesses are-but few are as laid out and easy to enter as this one is.

"Probably the biggest advantage [of online auctions] is that you immediately fit your sales items into a preexisting system," says Greg Holden, author of Internet Auctions for Dummies (IDG Books, $19.99) and CliffsNotes: Buying and Selling on eBay (IDG Books-CliffsNotes, $8.99). "You don't have to worry about anything other than which items you want to sell, how much you want to charge for them, and how you're going to present them online. Then the auction house does the 'marketing' in the sense that it puts your things on its site."

To start, you need little more than a good PC, an uninterrupted Internet connection, a scanner and a good monitor (you want to see your auction as well as potential bidders will). Holden suggests that auctioneers become proficient with display graphics, since this is really the only technical aspect of the business. "In almost all cases, good clear images make sales. A little rudimentary training in cropping and retouching graphics files so they appear quickly will help your sales presentation."

Other tips Holden suggests are:

• Be responsive and courteous with answers, feedback and shipment. You may get several questions regarding each auction item, so be prepared to take the time to thoughtfully answer them. After the sale, you'll have to notify the winning bidders, accept payment and ship the product.

• Describe items fully and enthusiastically. Stress the positive, but be honest about any flaws as well.

• Keep reserve prices low. Don't be reluctant to offer desirable items with no reserve price because this can increase interest.

• Network with other auction sellers.

• Display expertise in your field. Create a Web site that's separate from the auction site and link to it from each auction.
  
  
  

-Laura Tiffany

For More Information

• AuctionWatch. This service allows you to launch several auctions on different auction sites (eBay, Yahoo! and Amazon, currently) and schedule them to begin and end during peak traffic times. The site's partnership with I-ship allows you to use their online shipping tools.

• PayPal. Accept credit card payments from buyers via e-mail with this service.

• Gomez.com Internet Auction Scorecard. Read reviews and check out the scores of several online auctions.

• WorthGuide. This site helps you price your items using historical data from actual online auctions as pricing guides. You can also check out the top 20 auction categories to get a grip on what's currently hot.