How online eBay Auction is done?

We all know that Auctions done in eBay.com is online and very popular. But can you please describe me in step by step details, how this online auction is done on eBay.com? Also let me know what are the advantages & drawbacks of such online auctions.

Public Comments

  1. if ya want to sell something- you have to set up a account with ebay. the whole procedure is made pretty simple, but sometimes may take a few days to complete just for verification reasons. You probley also want to set up a account with paypal although not neccsary, it is the preferred way of not only receiving money as a seller but also as sending money as a buyer,paypal makes it super quick. and accepting checks or money orders which are often fraudulent is not a good idea. setting up the account may again take a few days for verification, but its usefull in many ways, and its free to set up. once you account is set up you can search, buy and sell. if your selling- you list the item for sale, you just follow and fill out the selling form- its very detailed but easy enough . give a good description of it and set a starting price, and or reserve price- the reserve price is set if there is a minimum amount that you would expect to be paid for the item, same for starting price. you can set the legnth of days you want the auction to run. as a seller you can also choose how many photos of the item you want to post, along with return policies, and shipping options and charges, and how you expect someone to pay for their won item.. the auction starts immediately upon completion of listing it and then people will look at it, ask questions, and place a bid along the way. once someone places a bid on a item on ebay- it is suppose to be a binding contract to purchase at that price,and at the said terms listed in the auction. although to some extent- there are ways to retract the bid amount - people should really look at and read about what they are purchasing because at the end of the auction the buyer is expected to pay for the item and shipping charges. at auction end you will be given the option of paying for your item, and soon after - a day or 2 or 3, as stated- the seller will ship it out. using ebay to sell is a great advantage because it opens the selling market to the whole country or even further if you want to ship it that far! for unusual items or items of rare interest you will get a many more buyers looking for that kind of thing in comparison to selling locally. buying on ebay is a good option to because it opens the market to availble products and deals to a much broader area than what you can find in a local store, given shipping charges sometimes you can find something locally at a comparable price- but i have found some hard to find items on ebay at a 20 to 40% savings in comparison to locally and thats even after paying the shipping charges. the drawbacks as selling something would be that you do have to pay ebay a small fee for using the service- but if its a got item that you are selling- then the fee is well worth it. paypal will also charge a fee for accepting the money but again maybe well worth it. the other major drawback from selling on ebay is if you do it wrong- you can loose money and end up selling a valueable item for way to little, and receive bad feedback for not providing quick assistance to a buyer with a question or problem. drawbacks as a buyer would be that - alot of people do not offer return policies so if you receive something broken or it just wasnt what you wanted- you may be stuck with it, and even in most cases where someone offers a return policy- and you return the item for a refund- you do not get a refund of your shipping charges paid. Obviosly not being able to see and touch what you are buying- you should do some serious research about it, and also ask a ton of questions and leave nothing to be expected, because unless it is written in the auction- then it is NOT expected. also there are alot of people on ebay selling total JUNK, they will be honest and tell ya its not working, and charge ya a ton for shipping it so be carefull and read, and ask?!!
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